XML 46 R28.htm IDEA: XBRL DOCUMENT

BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Jul. 02, 2011

Schedule of business segment financial data, including the results of acquisitions from the respective dates of acquisition

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Revenues (1):
Flow Technology	$	492.8		$	383.4		$	948.7		$	737.4
Test and Measurement	288.1			239.9			537.0			444.3
Thermal Equipment and Services	431.9			392.2			757.2			744.6
Industrial Products and Services	171.2			173.3			340.1			347.1
Total revenues	$	1,384.0		$	1,188.8		$	2,583.0		$	2,273.4

Segment income:
Flow Technology	$	56.6		$	45.2		$	113.0		$	86.5
Test and Measurement	29.0			23.7			48.6			37.1
Thermal Equipment and Services	35.8			49.1			57.1			80.8
Industrial Products and Services	10.9			17.7			28.1			37.8
Total segment income	132.3			135.7			246.8			242.2

Corporate expense	(23.7		)	(22.5		)	(54.8		)	(45.2		)
Pension and postretirement expense	(9.1		)	(12.9		)	(18.3		)	(26.1		)
Stock-based compensation expense	(7.0		)	(8.2		)	(26.7		)	(20.1		)
Impairment of goodwill and other intangible assets	(24.7		)	—			(24.7		)	—
Special charges, net	(8.9		)	(4.4		)	(12.0		)	(11.2		)

Consolidated operating income	$	58.9		$	87.7		$	110.3		$	139.6

(1) Under the percentage of completion method, we recognized revenues of $397.3 and $313.5 in the three months ended July 2, 2011 and July 3, 2010, respectively. For the six months ended July 2, 2011 and July 3, 2010, revenues under the percentage of completion method were $698.9 and $615.7, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $264.2 and $228.1 as of July 2, 2011 and December 31, 2010, respectively. The July 2, 2011 balance includes $262.4 reported as a component of “Accounts receivable, net” and $1.8 as a component of “Other assets” in the condensed consolidated balance sheet. The December 31, 2010 balance includes $226.3 reported as a component of “Accounts receivable, net” and $1.8 as a component of “Other assets” in the condensed consolidated balance sheet. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage of completion method were $276.3 and $373.9 as of July 2, 2011 and December 31, 2010, respectively. The July 2, 2011 balance includes $269.8 reported as a component of “Accrued expenses” and $6.5 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet. The December 31, 2010 balance includes $364.5 reported as a component of “Accrued expenses” and $9.4 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet.