BUSINESS SEGMENT INFORMATION (Tables)

9 Months Ended

Oct. 01, 2011

BUSINESS SEGMENT INFORMATION

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

	Three months ended						Nine months ended
	October 1,			October 2,			October 1,			October 2,
	2011			2010			2011			2010
Revenues (1):
Flow Technology	$	527.9		$	438.6		$	1,476.6		$	1,176.0
Test and Measurement	255.6			227.6			792.6			671.9
Thermal Equipment and Services	433.9			438.7			1,191.1			1,183.3
Industrial Products and Services	169.8			183.5			509.9			530.6
Total revenues	$	1,387.2		$	1,288.4		$	3,970.2		$	3,561.8
Segment income:
Flow Technology	$	70.1		$	58.2		$	183.1		$	144.7
Test and Measurement	29.4			17.8			78.0			54.9
Thermal Equipment and Services	40.8			60.1			97.9			140.9
Industrial Products and Services	16.1			21.6			44.2			59.4
Total segment income	156.4			157.7			403.2			399.9
Corporate expense	(25.1		)	(21.5		)	(79.9		)	(66.7		)
Pension and postretirement expense	(8.7		)	(13.4		)	(27.0		)	(39.5		)
Stock-based compensation expense	(7.8		)	(5.3		)	(34.5		)	(25.4		)
Impairment of goodwill and other intangible assets	—			—			(24.7		)	—
Special charges, net	(7.7		)	(8.9		)	(19.7		)	(20.1		)
Consolidated operating income	$	107.1		$	108.6		$	217.4		$	248.2

(1) Under the percentage of completion method, we recognized revenues of $375.9 and $362.7 in the three months ended October 1, 2011 and October 2, 2010, respectively. For the nine months ended October 1, 2011 and October 2, 2010, revenues under the percentage of completion method were $1,074.8 and $978.5, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $277.0 and $228.1 as of October 1, 2011 and December 31, 2010, respectively. The October 1, 2011 balance includes $275.2 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 $236.7 and $373.9 as of October 1, 2011 and December 31, 2010, respectively. The October 1, 2011 balance was reported as a component of “Accrued expenses”. 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.