Segment Information (Tables)

12 Months Ended

Dec. 31, 2011

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

	December 31,

	2011			2010			2009
	(in millions)
Net Sales
North America	$	819.4		$	785.5		$	738.5
Europe		595.5			468.3			466.5
Asia		21.7			20.8			20.9

Consolidated net sales	$	1,436.6		$	1,274.6		$	1,225.9

Operating income (loss)
North America	$	112.0		$	106.4		$	78.6
Europe		28.7			43.7			51.0
Asia		12.2			(0.5	)		(6.6	)

Subtotal reportable segments		152.9			149.6			123.0
Corporate (*)		(35.8	)		(35.4	)		(30.8	)

Consolidated operating income		117.1			114.2			92.2
Interest income		1.0			1.0			0.9
Interest expense		(25.8	)		(22.8	)		(22.0	)
Other		(0.8	)		2.1			1.2

Income from continuing operations before income taxes	$	91.5		$	94.5		$	72.3

Identifiable Assets (at end of period)
North America	$	831.8		$	871.8		$	804.7
Europe		773.2			692.8			686.0
Asia		92.5			79.7			85.4
Discontinued operations		—			1.8			23.1

Consolidated identifiable assets	$	1,697.5		$	1,646.1		$	1,599.2

Long-Lived Assets (at end of period)
North America	$	78.4		$	77.4		$	81.5
Europe		133.3			104.6			108.5
Asia		15.0			15.5			16.5

Consolidated long-lived assets	$	226.7		$	197.5		$	206.5

Capital Expenditures
North America	$	8.4		$	9.1		$	9.3
Europe		13.6			14.8			14.4
Asia		0.7			0.7			0.5

Consolidated capital expenditures	$	22.7		$	24.6		$	24.2

Depreciation and Amortization
North America	$	19.2		$	17.9		$	17.9
Europe		30.2			24.9			23.1
Asia		2.0			2.0			5.8

Consolidated depreciation and amortization	$	51.4		$	44.8		$	46.8

*: Corporate expenses are primarily for compensation expense, Sarbanes-Oxley compliance, professional fees, including legal and audit expenses, shareholder services and benefit administration costs. These costs are not allocated to the geographic segments as they are viewed as corporate functions that support all activities. Corporate costs in 2011 include $6.3 million in charges related to the separation agreement with the Company's former CEO.

Schedule of U.S. net sales and U.S. long-lived assets of the Company's North American segment

	December 31,

	2011		2010		2009
	(in millions)
U.S. net sales	$	741.4	$	712.2	$	672.6
U.S. property, plant and equipment, net (at end of period)	$	73.5	$	72.4	$	74.8

Schedule of intersegment sales for North America, Europe and Asia

	December 31,

	2011		2010		2009
	(in millions)
Intersegment Sales
North America	$	3.3	$	3.6	$	3.6
Europe		8.4		7.6		5.8
Asia		132.9		115.8		110.4

Intersegment sales	$	144.6	$	127.0	$	119.8

Schedule of net sales to third parties for the four product categories

	December 31,

	2011		2010		2009
	(in millions)
Net Sales
Residential & commercial flow control	$	755.4	$	652.2	$	623.4
HVAC & gas		475.7		433.4		423.5
Drains & water re-use		135.2		122.2		117.6
Water quality		70.3		66.8		61.4

Consolidated net sales	$	1,436.6	$	1,274.6	$	1,225.9

- Definition

Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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