Segment Results

6 Months Ended

Jun. 30, 2011

Segment Results

Segment Results

3. Segment Results

The Company's segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has five reportable segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling and Controls. Furthermore, Corporate consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs. Assets of the reportable segments exclude general corporate assets, which principally consist of cash, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets.

Financial information by reportable segment is set forth below:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands)	2011			2010			2011			2010
Net sales
Aerospace & Electronics	$	171,538		$	139,299		$	333,474		$	272,944
Engineered Materials		60,101			58,646			121,933			112,401
Merchandising Systems		94,010			74,527			188,888			144,698
Fluid Handling		288,965			254,587			553,107			502,376
Controls		29,159			25,755			57,391			50,686
Total	$	643,773		$	552,814		$	1,254,793		$	1,083,105
Operating profit (loss)
Aerospace & Electronics	$	37,157		$	26,215		$	71,199		$	50,704
Engineered Materials		9,130			10,172			19,273			18,712
Merchandising Systems		7,114			8,110			11,787			13,079
Fluid Handling		36,943			32,152			72,396			60,141
Controls		3,717			825			6,828			951
Corporate		(14,118	)		(12,170	)		(28,680	)		(25,003	)
Total		79,943			65,304			152,803			118,584
Interest income		389			236			679			461
Interest expense		(6,429	)		(6,657	)		(13,051	)		(13,383	)
Miscellaneous - net		(290	)		(604	)		3,335			*(625	)
Income before income taxes	$	73,613		$	58,279		$	143,766		$	105,037

* Primarily related to the sale of a building in the first quarter of 2011.

	As of
(in thousands)	June 30,		December 31,
	2011		2010
Assets
Aerospace & Electronics	$	523,492	$	498,775
Engineered Materials		261,278		255,340
Merchandising Systems		441,505		419,704
Fluid Handling		907,655		829,523
Controls		66,114		66,744
Corporate		570,093		636,611
Total	$	2,770,137	$	2,706,697

	As of
(in thousands)	June 30,		December 31,
	2011		2010
Goodwill
Aerospace & Electronics	$	203,592	$	202,481
Engineered Materials		171,521		171,491
Merchandising Systems		204,252		197,453
Fluid Handling		216,788		210,695
Controls		28,165		28,165
Total	$	824,318	$	810,285