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INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS (Tables)
3 Months Ended
Mar. 30, 2013
INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS  
Schedule of reportable segments and other operating segments, including the results of acquisitions from the respective dates of acquisition

 

 

 

Three months ended

 

 

 

March 30,

 

March 31,

 

 

 

2013

 

2012

 

Revenues: (1)

 

 

 

 

 

Flow Technology reportable segment

 

$

613.0

 

$

628.1

 

Thermal Equipment and Services reportable segment

 

305.1

 

320.1

 

Industrial Products and Services and Other

 

215.6

 

205.3

 

Total revenues

 

$

1,133.7

 

$

1,153.5

 

 

 

 

 

 

 

Income:

 

 

 

 

 

Flow Technology reportable segment

 

$

55.0

 

$

46.4

 

Thermal Equipment and Services reportable segment

 

1.7

 

10.6

 

Industrial Products and Services and Other

 

25.7

 

26.0

 

Total income for reportable and other operating segments

 

82.4

 

83.0

 

 

 

 

 

 

 

Corporate expense

 

(30.9

)

(32.4

)

Pension and postretirement expense

 

(6.2

)

(9.1

)

Stock-based compensation expense

 

(20.3

)

(21.8

)

Impairment of intangible assets

 

(2.0

)

 

Special charges, net

 

(0.4

)

(2.4

)

Consolidated operating income

 

$

22.6

 

$

17.3

 

 

(1)                             Under the percentage of completion method, we recognized revenues of $342.7 and $375.3 in the three months ended March 30, 2013 and March 31, 2012, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $371.5 and $359.7 as of March 30, 2013 and December 31, 2012, respectively, and are reported as a component of “Accounts receivable, net” in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage of completion method were $241.0 and $248.6 as of March 30, 2013 and December 31, 2012, respectively. The March 30, 2013 balance is reported as a component of “Accrued expenses” in the condensed consolidated balance sheet. The December 31, 2012 balance includes $248.4 reported as a component of “Accrued expenses” and $0.2 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet.