Segment Information

12 Months Ended

Nov. 30, 2013

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Based on the economic characteristics of the Company’s business activities, the nature of products, customers and markets served and the performance evaluation by management and the Company’s Board of Directors, the Company has identified three reportable segments: Engine/Mobile Filtration, Industrial/Environmental Filtration and Packaging.

The Engine/Mobile Filtration segment manufactures and markets a complete line of filters used in the filtration of oils, air, fuel, coolant, hydraulic and transmission fluids in both domestic and international markets.  The Engine/Mobile Filtration segment provides filters for certain types of transportation equipment including automobiles, heavy-duty and light trucks, buses and locomotives, marine and mining equipment, industrial equipment and heavy-duty construction and agricultural equipment.  The products are sold to aftermarket distributors, original equipment manufacturers and dealer networks, private label accounts and directly to truck service centers and large national accounts.

The Industrial/Environmental Filtration segment manufactures and markets a complete line of filters, cartridges, dust collectors, filtration systems, engineered filtration products and technologies used in the filtration of air and industrial fluid processes in both domestic and international markets.  The filters and filter systems are used in commercial and industrial buildings, hospitals, manufacturing processes, pharmaceutical processes, clean rooms, airports, shipyards, refineries and other oil and natural gas facilities, power generation plants, petrochemical plants, residences and various other infrastructures.  The products are sold to commercial and industrial distributors, original equipment manufacturers and dealer networks, private label accounts, retailers and directly to large national accounts.

The Packaging segment manufactures and markets consumer and industrial packaging products including custom-designed plastic and metal containers and closures and lithographed metal sheets in both domestic and international markets.  The products are sold directly to consumer and industrial packaging customers.

Net sales represent sales to unaffiliated customers.  Intersegment sales were not material.  No single customer accounted for 10% or more of the Company’s consolidated sales for the years ended November 30, 2013, 2012 and 2011.  Unallocated amounts consist of interest expense, interest income and other non-operating income and expense items.  Assets are those assets used in each business segment.  Corporate assets consist of cash, deferred income taxes, corporate facility and equipment and various other assets that are not specific to an operating segment.  The Company operates as a consolidated entity, including cooperation between segments, cost allocating and sharing of certain assets.  As such, the Company makes no representation, that if operated on a standalone basis, these segments would report net sales, operating profit and other financial data reflected below.

The following tables provides segment data for the years ended November 30, 2013, 2012 and 2011:

	2013			2012		2011
Net sales:
Engine/Mobile Filtration	$	507,024		$	503,607	$	510,012
Industrial/Environmental Filtration	549,746			541,364		523,026
Packaging	74,000			76,794		93,563
	$	1,130,770		$	1,121,765	$	1,126,601
Operating profit:
Engine/Mobile Filtration	$	106,345		$	111,653	$	112,839
Industrial/Environmental Filtration	61,996			64,766		58,028
Packaging	6,275			6,295		10,400
	174,616			182,714		181,267
Other income (expense), net	(316		)	283		41
Earnings before income taxes	$	174,300		$	182,997	$	181,308

	2013		2012		2011
Identifiable assets:
Engine/Mobile Filtration	$	397,545	$	372,011	$	338,197
Industrial/Environmental Filtration	715,759		706,610		693,266
Packaging	41,030		36,350		39,571
Corporate	294,509		90,531		63,899
	$	1,448,843	$	1,205,502	$	1,134,933
Additions to property, plant and equipment:
Engine/Mobile Filtration	$	19,809	$	24,062	$	11,406
Industrial/Environmental Filtration	21,467		9,264		8,775
Packaging	2,467		3,250		3,824
Corporate	908		71		166
	$	44,651	$	36,647	$	24,171
Depreciation and amortization:
Engine/Mobile Filtration	$	10,488	$	9,327	$	9,325
Industrial/Environmental Filtration	18,093		18,692		19,231
Packaging	2,859		3,090		3,166
Corporate	793		706		713
	$	32,233	$	31,815	$	32,435

Financial data relating to the geographic areas in which the Company operates are shown for the years ended November 30, 2013, 2012 and 2011.  Net sales by geographic area are based on sales to final customers within that region.

	2013		2012		2011
Net sales:
United States	$	778,952	$	779,811	$	775,987
Europe	96,255		102,144		106,712
Asia	103,030		98,880		95,363
Other International	152,533		140,930		148,539
	$	1,130,770	$	1,121,765	$	1,126,601
Property, plant and equipment, at cost, less accumulated depreciation:
United States	$	183,166	$	173,018	$	164,712
Europe	12,499		3,619		2,924
Asia	2,702		8,013		7,561
Other International	10,586		10,451		9,795
	$	208,953	$	195,101	$	184,992