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Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Reporting Information, by Segment

The following table (in millions) sets forth summarized financial information by reportable business segment:


	Industrial		Aerospace		Other		Total Company
Sales
2021	$	896.5	$	362.4	$	—	$	1,258.8
2020	770.1		354.3		—		1,124.4
2019	938.5		552.6		—		1,491.1
Operating profit
2021	$	97.7	$	52.3	$	—	$	150.0
2020	66.6		56.8		—		123.4
2019	114.0		122.5		—		236.4
Assets
2021	$	1,827.9	$	583.0	$	165.9	$	2,576.8
2020	1,908.4		623.5		144.3		2,676.2
2019	1,879.3		704.3		154.8		2,738.3
Depreciation and amortization
2021	$	57.5	$	32.8	$	0.9	$	91.1
2020	57.7		29.0		0.9		87.7
2019	62.4		35.9		0.8		99.1
Capital expenditures
2021	$	21.3	$	12.7	$	0.2	$	34.1
2020	19.4		20.8		0.5		40.7
2019	25.3		26.0		2.0		53.3

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Notes:

One customer, General Electric, accounted for 16%, 17% and 21% of the Company’s total revenues in 2021, 2020 and 2019, respectively.

“Other” assets include corporate-controlled assets, the majority of which are cash and cash equivalents and deferred tax assets.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

A reconciliation of the total reportable segments’ operating profit to income before income taxes follows (in millions):


	2021		2020		2019
Operating profit	$	150.0	$	123.4	$	236.4
Interest expense	16.2		15.9		20.6
Other expense (income), net	6.0		5.9		9.0
Income before income taxes	$	127.8	$	101.5	$	206.8

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table (in millions) summarizes total net sales and long-lived assets of the Company by geographic area:


	Domestic		International		Other		Total Company
Sales
2021	$	516.4	$	829.4	$	(87.0)	$	1,258.8
2020	483.8		714.0		(73.4)		1,124.4
2019	630.0		949.4		(88.4)		1,491.1
Long-lived assets
2021	$	380.7	$	1,493.9	$	—	$	1,874.6
2020	383.2		1,628.6		—		2,011.8
2019	372.2		1,580.5		—		1,952.7

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Notes: Germany, with sales of $243.1 million, $223.3 million and $302.0 million in 2021, 2020 and 2019, respectively, and Singapore, with sales of $136.8 million, $129.8 million and $225.7 million in 2021, 2020 and 2019, respectively, represent the only international countries with revenues in excess of 10% of the Company's total revenues in those years. “Other” revenues represent the elimination of inter-company sales between geographic locations, of which approximately 78%, 67% and 68% were sales from international locations to domestic locations in 2021, 2020 and 2019, respectively.

Germany, with long-lived assets of $428.9 million, $481.5 million and $480.3 million as of December 31, 2021, 2020 and 2019, respectively, Singapore, with long-lived assets of $201.6 million, $214.8 million and $226.5 million as of December 31, 2021, 2020 and 2019, respectively and Italy, with long-lived assets of $398.2 million, $443.1 million and $402.1 million as of December 31, 2021, 2020 and 2019, respectively, represent the international countries with long-lived assets that exceeded 10% of the Company's total long-lived assets in those years.