SEGMENT INFORMATION AND GEOGRAPHIES

12 Months Ended

Jul. 31, 2011

Segment Reporting [Abstract]

SEGMENT INFORMATION AND GEOGRAPHIES

NOTE 18 – SEGMENT INFORMATION AND GEOGRAPHIES

The Company serves customers through two global businesses: Life Sciences and Industrial.

     The Life Sciences business group is focused on developing, manufacturing and selling products to customers in the Medical, BioPharmaceuticals and Food & Beverage markets. The Industrial business group is focused on developing, manufacturing and selling products to customers in the Aeropower, Microelectronics and Energy & Water markets. The chief executive officer manages the Company and makes key decisions about the allocation of Company resources based on the two businesses. The Company’s reportable segments, which are also its operating segments, consist of its two businesses, Life Sciences and Industrial.

The Business Groups are supported by shared facilities and personnel (“Shared Services Group”) in the Company's subsidiaries that sell into both Life Sciences and Industrial markets. The Shared Services Group and Corporate Services Group facilitate the Company’s corporate governance and business activities globally. Expenses associated with the Corporate Services Group, as well as interest expense, net, the provision for income taxes and restructuring and other charges are excluded from the measurement and evaluation of the profitability of the Company’s reportable segments.

Cash and cash equivalents, short-term investments, investments and retirement benefit assets and income taxes, all of which are managed at the Corporate level, are included in Corporate/Shared Services Groups’ assets. Furthermore assets not specifically identified to a business are also included in Corporate/Shared Services Groups’ assets. Accounts receivable and inventory are in all cases specifically identified to a business.

SEGMENT INFORMATION:	2011			2010			2009
SALES:
Life Sciences	$	1,407,863		$	1,237,835		$	1,166,275
Industrial		1,333,053			1,164,097			1,162,883
Total	$	2,740,916		$	2,401,932		$	2,329,158
OPERATING PROFIT:
Life Sciences		337,600			280,089			234,055
Industrial		195,791			164,544			152,068
Total segment profit		533,391			444,633			386,123
Corporate Services Group		61,125			53,411			56,478
Operating profit		472,266			391,222			329,645
ROTC		33,841			17,664			30,723
Interest expense, net		18,903			14,324			28,136
Loss on extinguishment of debt		–			31,513			–
Earnings before income taxes	$	419,522		$	327,721		$	270,786
DEPRECIATION AND AMORTIZATION:
Life Sciences	$	57,282		$	54,882		$	51,838
Industrial		38,585			36,922			36,170
Subtotal		95,867			91,804			88,008
Corporate Services Group		2,239			1,824			1,431
Total	$	98,106		$	93,628		$	89,439
CAPITAL EXPENDITURES:
Life Sciences	$	55,313		$	59,882		$	73,915
Industrial		41,361			32,175			42,033
Subtotal		96,674			92,057			115,948
Corporate/Shared Services Groups		64,097			44,256			17,101
Total	$	160,771		$	136,313		$	133,049
IDENTIFIABLE ASSETS:
Life Sciences	$	1,097,616		$	1,068,697
Industrial		1,011,778			903,740
Subtotal		2,109,394			1,972,437
Corporate/Shared Services Groups		1,123,022			1,026,775
Total	$	3,232,416		$	2,999,212
GEOGRAPHIC INFORMATION:
SALES:
Western Hemisphere	$	917,109		$	789,361		$	769,702
Europe		1,055,075			945,952			960,307
Asia		768,732			666,619			599,149
Total	$	2,740,916		$	2,401,932		$	2,329,158
IDENTIFIABLE ASSETS:
Western Hemisphere	$	1,108,943		$	1,098,019
Europe		695,297			621,959
Asia		375,283			304,671
Eliminations		(70,129	)		(52,212	)
Subtotal		2,109,394			1,972,437
Corporate/Shared Services Groups		1,123,022			1,026,775
Total	$	3,232,416		$	2,999,212

     Sales by the Company’s U.S. operations to unaffiliated customers totaled approximately $846,000, $733,000 and $715,000 in fiscal years 2011, 2010 and 2009, respectively. Included therein are export sales of approximately $56,000, $43,300 and $86,000 in fiscal years 2011, 2010 and 2009, respectively. Sales by the Company’s subsidiaries in the Euro-zone amounted to approximately $725,000, $665,000 and $672,000 in fiscal years 2011, 2010 and 2009, respectively. No country in the Eurozone was individually material as a percentage of total Company sales in fiscal years 2011, 2010 and 2009. Sales by the Company’s subsidiary in Japan amounted to approximately $257,000, $230,000 and $214,000 in fiscal years 2011, 2010 and 2009, respectively. The Company considers its foreign operations to be of major importance to its future growth prospects. The risks related to the Company’s foreign operations include the local political and regulatory developments as well as the regional economic climate.