Segment Results

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Results

Segment Results

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: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. 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.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2015			2014			2015			2014
Net sales
Fluid Handling	$	264.7		$	314.5		$	832.2		$	949.8
Payment & Merchandising Technologies	170.6			181.1			529.0			534.8
Aerospace & Electronics	171.7			167.2			500.4			513.7
Engineered Materials	62.9			64.7			198.4			196.1
Total	$	669.9		$	727.4		$	2,060.0		$	2,194.3
Operating profit (loss)
Fluid Handling	$	29.4		$	48.1		$	96.2		$	144.8
Payment & Merchandising Technologies	25.2			25.1			72.5			51.2
Aerospace & Electronics	36.5			29.9			98.2			98.3
Engineered Materials	12.5			9.0			39.0			29.6
Corporate a	(10.4		)	(8.6		)	(36.5		)	(41.5		)
Environmental provision b	—			(55.8		)	—			(55.8		)
Total	93.2			47.7			269.4			226.7
Interest income	0.5			0.4			1.4			1.1
Interest expense	(9.1		)	(9.6		)	(28.5		)	(29.1		)
Miscellaneous - net	(0.3		)	0.3			(0.2		)	(1.4		)
Income before income taxes	$	84.3		$	38.9		$	242.1		$	197.3

^a Includes a $6.5 million charge related to the settlement of an environmental lawsuit recorded in the nine months ended September 30, 2014.

^b Includes a $49.0 million charge related to an increase in the Company's liability expected at its Goodyear, AZ Superfund Site and a $6.8 million charge for expected remediation costs associated with a previously disclosed environmental site in Roseland, NJ.

	As of
	September 30,		December 31,
(in millions)	2015		2014
Assets
Fluid Handling	$	917.4	$	963.2
Payment & Merchandising Technologies	1,206.5		1,210.1
Aerospace & Electronics	545.9		512.1
Engineered Materials	235.6		229.1
Corporate	497.3		536.3
Total	$	3,402.7	$	3,450.8

	As of
	September 30,		December 31,
(in millions)	2015		2014
Goodwill
Fluid Handling	$	221.1	$	227.3
Payment & Merchandising Technologies	580.4		589.9
Aerospace & Electronics	202.6		202.7
Engineered Materials	171.5		171.5
Total	$	1,175.6	$	1,191.3