Information on Business Segments

9 Months Ended

Sep. 30, 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 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, and a leading designer and manufacturer of highly engineered and customized hot runner systems and components, serving diverse industrial end markets such as transportation, energy, electronics, medical devices 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 segments:

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Net sales
Aerospace	$	98,370		$	98,125		$	289,391		$	283,415
Industrial	123,812			112,476			349,404			337,910
Distribution	85,719			90,260			270,999			271,903
Intersegment sales	(1,842		)	(2,218		)	(7,217		)	(7,159		)
Total net sales	$	306,059		$	298,643		$	902,577		$	886,069
Operating profit
Aerospace	$	15,345		$	16,071		$	44,269		$	44,548
Industrial	7,406			10,340			28,728			32,275
Distribution	6,920			7,777			23,813			21,855
Total operating profit	29,671			34,188			96,810			98,678
Interest expense	3,243			1,902			8,046			7,906
Other expense (income), net	851			(501		)	1,799			228
Income from continuing operations before income taxes	$25,577			$32,787			$86,965			$90,544

	September 30, 2012		December 31, 2011
Assets
Aerospace	$	534,807	$	544,943
Industrial(A)	879,284		453,279
Distribution	284,125		278,139
Other (B)	180,663		164,004
Total assets	$	1,878,879	$	1,440,365

(A) The increase in assets within the Industrial segment primarily reflects the acquisition of Synventive.

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