Business Segments

12 Months Ended

Dec. 30, 2012

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company has four reportable segments: Instrumentation; Digital Imaging; Aerospace and Defense Electronics; and Engineered Systems. The Company manages, evaluates and aggregates its operating segments for segment reporting purposes primarily on the basis of product and service type, production process, distribution methods, type of customer, management organization, sales growth potential and long-term profitability. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, electronic test and measurement equipment and harsh environment interconnect products. The Digital Imaging segment includes high performance sensors, cameras and systems, within the visible, infrared and X-ray spectra, for use in industrial, government and medical applications, as well as MEMS. It also includes our sponsored and centralized research laboratories benefiting government programs and businesses. The Aerospace and Defense Electronics segment provides sophisticated electronic components and subsystems and communications products, including defense electronics, harsh environment interconnects, data acquisition and communications equipment for aircraft and components and subsystems for wireless and satellite communications, as well as general aviation batteries. The Engineered Systems segment provides innovative systems engineering and integration, advanced technology application, software development and manufacturing solutions for defense, space, environmental and energy applications. The Engineered Systems segment also designs and manufactures electrochemical energy systems and small turbine engines.

Segment operating profit includes other income and expense directly related to the segment, but excludes noncontrolling interest, interest income and expense, gains and losses on the disposition of assets, sublease rental income and non-revenue licensing and royalty income, domestic and foreign income taxes and corporate office expenses.

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, net pension assets/liabilities and other assets.

Information on the Company's business segments was as follows (in millions):

Sales	2012			2011			2010
Instrumentation	$	749.4		$	616.6		$	573.2
Digital Imaging	415.9			349.9			122.5
Aerospace and Defense Electronics	660.6			670.8			614.7
Engineered Systems	301.4			304.6			333.8
Total net sales	$	2,127.3		$	1,941.9		$	1,644.2
Income before taxes	2012			2011			2010
Instrumentation	$	136.2		$	122.8		$	113.9
Digital Imaging	24.8			16.1			5.2
Aerospace and Defense Electronics	90.3			93.9			57.8
Engineered Systems	28.5			28.1			30.4
Total segment operating profit	279.8			260.9			207.3
Corporate expense	(36.7		)	(33.7		)	(28.8		)
Other income, net	2.9			0.6			1.6
Interest and debt expense, net	(17.8		)	(16.2		)	(6.5		)
Income before taxes	$	228.2		$	211.6		$	173.6

Depreciation and amortization	2012		2011		2010
Instrumentation	$	23.5	$	16.3	$	16.6
Digital Imaging	30.5		26.9		9.3
Aerospace and Defense Electronics	19.7		16.9		16.0
Engineered Systems	4.4		4.0		3.1
Corporate	0.2		0.1		0.2
Total depreciation and amortization	$	78.3	$	64.2	$	45.2

Capital expenditures	2012		2011		2010
Instrumentation	$	13.2	$	8.9	$	6.4
Digital Imaging	23.5		13.8		11.3
Aerospace and Defense Electronics	13.8		13.1		9.7
Engineered Systems	4.2		5.9		3.6
Corporate	10.6		—		—
Total capital expenditures	$	65.3	$	41.7	$	31.0

Identifiable assets	2012		2011		2010
Instrumentation	$	945.9	$	545.0	$	575.0
Digital Imaging	778.1		638.8		192.0
Aerospace and Defense Electronics	534.2		479.3		460.7
Engineered Systems	102.3		115.1		106.9
Corporate	45.9		47.9		148.1
Discontinued operations	—		—		75.1
Total identifiable assets	$	2,406.4	$	1,826.1	$	1,557.8

Information on the Company's sales by country of origin and long-lived assets by major geographic area was as follows (in millions):

Sales	2012		2011		2010
United States	$	1,699.5	$	1,623.0	$	1,551.2
Canada	224.4		165.0		—
All other countries	203.4		153.9		93.0
Total sales	$	2,127.3	$	1,941.9	$	1,644.2

Long-lived assets	2012		2011		2010
United States	$	1,068.0	$	802.7	$	779.5
Canada	393.4		282.9		—
All other countries	200.2		137.7		130.3
Total long-lived assets	$	1,661.6	$	1,223.3	$	909.8

The all other countries category primarily consists of the operations in the United Kingdom. Long-lived assets consist of property, plant and equipment, goodwill, acquired intangible assets and other long-term assets including deferred compensation assets but excluding any deferred tax assets.

Product Lines

The Instrumentation segment includes three product lines: Environmental Instrumentation, Marine Instrumentation and Test and Measurement Instrumentation. The Digital Imaging segment contains one product line as does the Aerospace and Defense Electronics segment. The Engineered Systems segment includes three product lines: Engineered Products and Services, Turbine Engines and Energy Systems.

The tables below provide a summary of the sales by product line for the Instrumentation segment and the Engineered Systems segment (in millions):

Instrumentation	2012		2011		2010
Environmental Instrumentation	$	250.2	$	243.8	$	219.8
Marine Instrumentation	418.4		372.8		353.4
Test and Measurement Instrumentation	80.8		—		—
Total	$	749.4	$	616.6	$	573.2
Engineered Systems	2012		2011		2010
Engineered Products and Services	$	241.3	$	246.2	$	279.9
Turbine Engines	24.6		23.8		17.0
Energy Systems	35.5		34.6		36.9
Total	$	301.4	$	304.6	$	333.8

Sales to the U.S. Government included sales to the Department of Defense of $542.6 million in 2012, $560.6 million in 2011, and $555.0 million in 2010. Total sales to international customers were $831.7 million in 2012, $689.9 million in 2011, and $470.8 million in 2010. Of these amounts, sales by operations in the United States to customers in other countries were $492.2 million in 2012, $424.8 million in 2011, and $397.7 million in 2010. There were no sales to individual countries outside of the United States in excess of 10 percent of the Company's sales. Sales between business segments, which were not material, generally were priced at prevailing market prices.