Segment Results

3 Months Ended

Mar. 31, 2013

Segment Results

Segment Results

Beginning in the first quarter of 2013, the Controls segment (consisting of the Barksdale and Crane Environmental businesses) is now included in the Fluid Handling segment. Prior period amounts have been reclassified to the new reporting structure for comparative purposes.

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has four reportable segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems and Fluid Handling. 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. Furthermore, Corporate consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs.

Financial information by reportable segment is set forth below:

	Three Months Ended
	March 31,
(in thousands)	2013			2012
Net sales
Aerospace & Electronics	$	164,882		$	175,168
Engineered Materials	60,230			58,159
Merchandising Systems	89,461			87,675
Fluid Handling	312,998			324,611
Total	$	627,571		$	645,613
Operating profit (loss) from continuing operations
Aerospace & Electronics	$	40,111		$	38,069
Engineered Materials	8,574			8,409
Merchandising Systems	10,165			4,713
Fluid Handling	45,891			43,078
Corporate	(17,841		)	(15,972		)
Total	86,900			78,297
Interest income	632			395
Interest expense	(6,718		)	(6,711		)
Miscellaneous - net	(120		)	(347		)
Income from continuing operations before income taxes	$	80,694		$	71,634

	As of
	March 31,		December 31,
(in thousands)	2013		2012
Assets
Aerospace & Electronics	$	514,088	$	509,672
Engineered Materials	241,554		237,478
Merchandising Systems	400,420		408,702
Fluid Handling	998,465		993,275
Corporate	695,576		740,751
Total	$	2,850,103	$	2,889,878

	As of
	March 31,		December 31,
(in thousands)	2013		2012
Goodwill
Aerospace & Electronics	$	203,478	$	203,595
Engineered Materials	171,468		171,533
Merchandising Systems	196,560		201,866
Fluid Handling	232,411		236,798
Total	$	803,917	$	813,792