INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS (Tables)

9 Months Ended

Sep. 28, 2013

INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS

Schedule of reportable segments and other operating segments, including the results of Seital from the date of its acquisition

	Three months ended						Nine months ended
	September 28,			September 29,			September 28,			September 29,
	2013			2012			2013			2012
Revenues (1):
Flow Technology reportable segment	$	651.6		$	648.6		$	1,918.0		$	1,954.0
Thermal Equipment and Services reportable segment	324.1			375.5			979.5			1,044.2
Industrial Products and Services and Other	170.1			152.6			500.7			466.8
Total revenues	$	1,145.8		$	1,176.7		$	3,398.2		$	3,465.0
Income:
Flow Technology reportable segment	$	83.1		$	78.1		$	205.1		$	194.3
Thermal Equipment and Services reportable segment	21.7			29.1			49.6			55.8
Industrial Products and Services and Other	24.7			17.0			69.1			55.9
Total income for reportable and other operating segments	129.5			124.2			323.8			306.0
Corporate expense	(26.2		)	(24.9		)	(82.2		)	(79.3		)
Pension and postretirement expense	(6.2		)	(10.7		)	(18.6		)	(28.9		)
Stock-based compensation expense	(3.7		)	(5.6		)	(29.3		)	(33.9		)
Impairment of intangible assets	—			—			(2.0		)	—
Special charges, net	(6.9		)	(6.4		)	(25.1		)	(17.2		)
Consolidated operating income	$	86.5		$	76.6		$	166.6		$	146.7

(1) Under the percentage of completion method, we recognized revenues of $317.2 and $394.9 in the three months ended September 28, 2013 and September 29, 2012, respectively. For the nine months ended September 28, 2013 and September 29, 2012, revenues under the percentage of completion method were $1,012.9 and $1,129.6, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $303.8 and $359.7 as of September 28, 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 $208.3 and $248.6 as of September 28, 2013 and December 31, 2012, respectively. The September 28, 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.