Information on Business Segments

6 Months Ended

Jun. 30, 2019

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.

Industrial is a global provider of highly-engineered, high-quality precision components, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, automation, personal care, packaging, electronics, and medical devices. Focused on innovative custom solutions, Industrial participates in the design phase of components and assemblies whereby customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Products are sold primarily through its direct sales force and global distribution channels. Industrial's Molding Solutions business designs and manufactures customized hot runner systems, advanced mold cavity sensors and process control systems, and precision high cavitation mold assemblies - collectively, the enabling technologies for many complex injection molding applications. The Force & Motion Control business provides innovative cost effective force and motion control solutions for a wide range of metal forming and other industrial markets. The Automation business designs and develops robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components for intelligent robotic handling solutions and industrial automation applications. Industrial's Engineered Components business manufactures and supplies precision mechanical products used in transportation and industrial applications, including mechanical springs, high-precision punched and fine-blanked components and retention rings.

Aerospace is a global manufacturer of complex fabricated and precision machined components and assemblies for turbine engines, nacelles and structures for both commercial and military aircraft. The Aerospace aftermarket business provides aircraft engine component MRO services, including services performed under our Component Repair Programs (“CRPs”), for many of the world’s major turbine engine manufacturers, commercial airlines and the military. The Aerospace aftermarket activities also include the manufacture and delivery of aerospace aftermarket spare parts, including revenue sharing programs (“RSPs”) under which the Company receives an exclusive right to supply designated aftermarket parts over the life of specific aircraft engine programs.

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,
	2019		2018			2019		2018
Net sales
Industrial	$	233,404	$	249,577		$	475,906	$	495,544
Aerospace	138,265		125,739			272,454		246,437
Intersegment sales	—		(1		)	—		(6		)
Total net sales	$	371,669	$	375,315		$	748,360	$	741,975

Operating profit
Industrial	$	27,430	$	38,316		$	48,931	$	70,694
Aerospace	29,527		25,563			58,676		49,818
Total operating profit	56,957		63,879			107,607		120,512
Interest expense	5,399		4,133			10,512		8,025
Other expense (income), net	1,712		947			3,519		2,710
Income before income taxes	$	49,846	$	58,799		$	93,576	$	109,777



	June 30, 2019		December 31, 2018
Assets
Industrial	$	1,940,216	$	1,962,362
Aerospace	709,580		692,584
Other ^(A)	145,439		154,024
Total assets	$	2,795,235	$	2,808,970

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