Information on Business Segments

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Information on Business Segments

Information on Business Segments

In the first quarter of 2012, the Company changed its organizational structure to align its strategic business units into three reportable business segments: Aerospace, Industrial and Distribution. The Company is organized based upon the nature of its products and services. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The Company has not aggregated operating segments for purposes of identifying reportable segments.

The Aerospace segment produces precision-machined and fabricated components and assemblies for original equipment manufacturer (“OEM”) turbine engine, airframe and industrial gas turbine builders throughout the world, and for the military. Aerospace also provides jet engine component overhaul and repair services for many of the world's major turbine engine manufacturers, commercial airlines and the military. In addition, Aerospace manufactures and provides aerospace aftermarket spare parts and provides repair services for aerospace engine components. The Industrial segment is a global supplier of high quality manufactured precision components for critical applications serving diverse industrial end markets such as transportation, energy, electronics, medical and consumer products. The Distribution segment is an industry leader in logistics support through vendor managed inventory and technical sales for maintenance, repair, operating and production supplies, as well as the design, assembly and distribution of engineered supplies for the global industrial base.

The following tables set forth information about the Company's operations by its three reportable business segments:

	Three months ended March 31,
	2012			2011
Net sales
Aerospace	$	97,250		$	90,560
Industrial	115,348			111,430
Distribution	93,425			89,912
Intersegment sales	(2,927		)	(2,312		)
Total net sales	$	303,096		$	289,590
Operating profit
Aerospace	$	14,218		$	13,683
Industrial	10,105			10,958
Distribution	8,690			6,076
Total operating profit	33,013			30,717
Interest expense	2,368			3,655
Other expense (income), net	853			408
Income from continuing operations before income taxes	$	29,792		$	26,654

	March 31, 2012		December 31, 2011
Assets
Aerospace	$	534,397	$	544,943
Industrial	473,387		453,279
Distribution	284,357		278,139
Other (A)	173,277		164,004
Total assets	$	1,465,418	$	1,440,365

(A) "Other" assets include corporate-controlled assets, the majority of which are cash and deferred tax assets.