XML 59 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS (Tables)
3 Months Ended
Mar. 28, 2015
INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS  
Schedule of financial data for reportable segments and other operating segments

 

 

 

Three months ended

 

 

 

March 28,

 

March 29,

 

 

 

2015

 

2014

 

Revenues: (1)

 

 

 

 

 

Flow Technology reportable segment

 

$

530.8

 

$

616.7

 

Thermal Equipment and Services reportable segment (2)

 

247.2

 

279.6

 

Industrial Products and Services and Other

 

168.9

 

180.8

 

Total revenues

 

$

946.9

 

$

1,077.1

 

Income (loss):

 

 

 

 

 

Flow Technology reportable segment

 

$

59.3

 

$

66.2

 

Thermal Equipment and Services reportable segment (2)

 

(2.8

)

9.2

 

Industrial Products and Services and Other

 

19.0

 

23.3

 

Total income for reportable and other operating segments

 

75.5

 

98.7

 

Corporate expense

 

(29.2

)

(28.5

)

Pension and postretirement expense

 

(1.3

)

(19.8

)

Stock-based compensation expense

 

(23.6

)

(24.7

)

Special charges, net

 

(6.6

)

(10.0

)

Consolidated operating income

 

$

14.8

 

$

15.7

 

 

 

(1)

Under the percentage-of-completion method, we recognized revenues of $239.4 and $274.2 in the three months ended March 28, 2015 and March 29, 2014, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $241.5 and $237.1 as of March 28, 2015 and December 31, 2014, 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 $180.7 and $178.9 as of March 28, 2015 and December 31, 2014, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

 

(2)

For the three months ended March 28, 2015, revenue and income related to the segment’s large power projects in South Africa declined approximately $15.0 and $8.0, respectively, when compared to the respective period in 2014.