Information on Business Segments

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Information on Business Segments

Information on Business Segments

The Company is organized based upon the nature of its products and services and reports under two global business segments: Industrial and Aerospace. 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 these two reportable segments.

The Industrial segment is a global manufacturer of highly-engineered, high-quality precision parts, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. Focused on innovative custom solutions, Industrial participates in the design phase of components and assemblies whereby the customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Industrial designs and manufactures customized hot runner systems and precision mold assemblies - the enabling technologies for many complex injection molding applications. It is a leading manufacturer and supplier of precision mechanical products, including precision mechanical springs and nitrogen gas products. Industrial also manufactures high-precision punched and fine-blanked components used in transportation and industrial applications, nitrogen gas springs and manifold systems used to precisely control stamping presses, and retention rings that position parts on a shaft or other axis. Industrial is equipped to produce virtually every type of precision spring, from fine hairsprings for electronics and instruments to large heavy-duty springs for machinery.

The Aerospace segmentproduces precision-machined and fabricated components and assemblies for original equipment manufacturer ("OEM") turbine engine, airframe and industrial gas turbine builders throughout the world, and the military. Aerospace Aftermarket provides jet engine component overhaul and repair ("MRO") services, including the CRP's, for many of the world's major turbine engine manufacturers, commercial airlines and militaries. Aerospace Aftermarket activities also include the manufacture and delivery of spare parts, including the RSPs under which the Company receives an exclusive right to supply designated aftermarket parts over the life of the related aircraft engine program, and component repairs.

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

	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Net sales
Industrial	$	202,589		$	212,768		$	402,938		$	416,656
Aerospace	112,356			109,310			212,581			217,521
Intersegment sales	(4		)	(4		)	(4		)	(4		)
Total net sales	$	314,941		$	322,074		$	615,515		$	634,173
Operating profit
Industrial	$	29,979		$	28,765		$	60,958		$	48,140
Aerospace	20,670			16,616			33,586			32,366
Total operating profit	50,649			45,381			94,544			80,506
Interest expense	2,586			2,804			5,306			6,123
Other expense (income), net	237			792			318			1,027
Income before income taxes	$	47,826		$	41,785		$	88,920		$	73,356

	June 30, 2015		December 31, 2014
Assets
Industrial	$	1,251,669	$	1,281,974
Aerospace	655,806		655,042
Other (A)	171,168		136,869
Total assets	$	2,078,643	$	2,073,885

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