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Segment Results
9 Months Ended
Sep. 30, 2013
Text Block [Abstract]  
Segment Results
Segment Results
Beginning in the first quarter of 2013, the Controls segment (consisting of the Barksdale and Crane Environmental businesses) is 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
 
Nine Months Ended
 
September 30,
 
September 30,
(in thousands)
2013
 
2012
 
2013
 
2012
Net sales
 
 
 
 
 
 
 
Aerospace & Electronics
$
169,771

 
$
171,368

 
$
507,046

 
$
525,127

Engineered Materials
61,956

 
56,956

 
179,933

 
169,603

Merchandising Systems
83,636

 
92,489

 
257,927

 
277,741

Fluid Handling
322,152

 
325,168

 
968,926

 
976,809

Total
$
637,515

 
$
645,981

 
$
1,913,832

 
$
1,949,280

Operating profit (loss) from continuing operations
 
 
 
 
 
 
 
Aerospace & Electronics
$
38,105

 
$
39,833

 
$
115,257

 
$
116,834

Engineered Materials
10,792

 
7,226

 
28,538

 
21,178

Merchandising Systems
7,869

 
9,496

 
26,902

 
23,324

Fluid Handling
46,594

 
45,736

 
146,688

 
119,433

Corporate
(14,351
)
 
(15,707
)
 
(52,630
)
 
(46,511
)
Total
89,009

 
86,584

 
264,755

 
234,258

Interest income
337

 
443

 
1,488

 
1,292

Interest expense
(6,688
)
 
(6,618
)
 
(20,651
)
 
(20,114
)
Miscellaneous - net
(456
)
 
(6
)
 
(170
)
 
(704
)
Income from continuing operations before income taxes
$
82,202

 
$
80,403

 
$
245,422

 
$
214,732


 
As of
 
September 30,
 
December 31,
(in thousands)
2013
 
2012
Assets
 
 
 
Aerospace & Electronics
$
512,689

 
$
509,672

Engineered Materials
241,455

 
237,478

Merchandising Systems
412,629

 
408,702

Fluid Handling
968,030

 
993,275

Corporate
723,342

 
740,751

Total
$
2,858,145

 
$
2,889,878


 
 
As of
 
September 30,
 
December 31,
(in thousands)
2013
 
2012
Goodwill
 
 
 
Aerospace & Electronics
$
202,754

 
$
203,595

Engineered Materials
171,529

 
171,533

Merchandising Systems
199,368

 
201,866

Fluid Handling
237,623

 
236,798

Total
$
811,274

 
$
813,792