Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Financial information by reportable segment is set forth below:



(in millions) December 31,	2018		2017		2016
Fluid Handling
Net sales	$	1,101.8	$	1,042.5	$	999.5
Operating profit ^(a)	118.8		101.7		109.4
Assets	878.2		941.6		845.9
Goodwill	240.8		245.4		212.3
Capital expenditures	19.9		14.7		10.3
Depreciation and amortization	15.2		16.2		10.8
Payment & Merchandising Technologies
Net sales	$	1,257.0	$	776.7	$	745.8
Operating profit ^(a)	186.0		145.9		133.2
Assets	2,074.4		1,215.7		1,188.9
Goodwill	789.2		587.7		563.3
Capital expenditures	57.5		14.2		8.7
Depreciation and amortization	82.4		34.2		33.9
Aerospace & Electronics
Net sales	$	743.5	$	691.4	$	745.7
Operating profit^(a)	164.2		160.3		149.7
Assets	603.9		573.0		555.5
Goodwill	202.4		202.4		202.3
Capital expenditures	20.6		16.7		28.7
Depreciation and amortization	13.0		14.0		11.7
Engineered Materials
Net sales	$	243.2	$	275.4	$	257.0
Operating profit ^(a)	37.8		49.4		49.0
Assets	222.1		220.8		224.7
Goodwill	171.3		171.4		171.3
Capital expenditures	10.3		3.1		3.5
Depreciation and amortization	6.4		6.7		6.1

(a) In 2018, we adopted amended guidance related to the presentation of net periodic pension cost and net periodic postretirement cost which resulted in a reclassification of the non-service cost components of net benefit cost from selling, general and administrative expenses to miscellaneous income, net of i) $15.3 million in 2018 and $10.1 million in each of 2017 and 2016 in the Fluid Handling segment; ii) $2.9 million, $2.5 million and $2.3 million in 2018, 2017 and 2016, respectively in the Payment & Merchandising Technologies segment; iii) $0.6 million, $(0.1) million and $0.1 million in 2018, 2017 and 2016, respectively in the Aerospace & Electronics segment; and iv) $0.2 million in 2018 in the Engineered Materials segment.

Information by reportable segment (continued):



(in millions) December 31,	2018			2017			2016
TOTAL NET SALES	$	3,345.5		$	2,786.0		$	2,748.0
Operating profit (loss)
Reporting segments	$	506.8		$	457.3		$	441.3
Corporate expense — before asbestos ^(b)	(65.5		)	(68.9		)	(62.2		)
Corporate expense — asbestos	—			—			(192.4		)
TOTAL OPERATING PROFIT	$	441.3		$	388.4		$	186.7
Interest income	2.3			2.5			1.9
Interest expense	(50.9		)	(36.1		)	(36.5		)
Miscellaneous income, net	18.7			12.7			12.0
INCOME BEFORE INCOME TAXES	$	411.4		$	367.5		$	164.1
Assets
Reporting segments	$	3,778.6		$	2,951.1		$	2,815.0
Corporate	264.1			642.4			613.0
TOTAL ASSETS	$	4,042.7		$	3,593.5		$	3,428.0
Goodwill
Reporting segments	$	1,403.7		$	1,206.9		$	1,149.2
Capital expenditures
Reporting segments	$	108.3		$	48.7		$	51.2
Corporate	0.5			0.3			0.3
TOTAL CAPITAL EXPENDITURES	$	108.8		$	49.0		$	51.5
Depreciation and amortization
Reporting segments	$	117.0		$	71.1		$	62.5
Corporate	3.0			1.6			4.9
TOTAL DEPRECIATION AND AMORTIZATION	$	120.0		$	72.7		$	67.4

Revenue from External Customers by Geographic Areas [Table Text Block]

Information by geographic region:



(in millions) December 31,	2018		2017		2016
Net sales^(c)
United States	$	2,107.2	$	1,767.3	$	1,769.7
Canada	172.3		169.0		163.2
United Kingdom	397.5		388.2		357.6
Continental Europe	484.2		268.6		279.6
Other international	184.3		192.9		177.9
TOTAL NET SALES	$	3,345.5	$	2,786.0	$	2,748.0
Assets ^(c)
United States	$	1,866.5	$	1,645.3	$	1,609.4
Canada	206.2		170.0		159.8
Europe	897.7		702.9		588.0
Other international	808.2		432.9		457.8
Corporate	264.1		642.4		613.0
TOTAL ASSETS	$	4,042.7	$	3,593.5	$	3,428.0
Tangible Assets ^(c)
United States	$	442.3	$	645.8	$	621.3
Canada	156.3		115.8		109.0
Europe	646.8		436.6		357.9
Other international	648.2		269.2		292.4
Corporate	264.1		642.4		613.0
TOTAL TANGIBLE ASSETS	$	2,157.7	$	2,109.8	$	1,993.6

Revenue from External Customers by Products and Services [Table Text Block]

The table below presents net sales by product line for each segment:



(in millions) December 31,	2018		2017		2016
Fluid Handling
Process Valves and Related Products	$	685.4	$	640.1	$	619.2
Commercial Valves	325.4		310.1		290.9
Other Products	91.0		92.3		89.4
Total Fluid Handling	$	1,101.8	$	1,042.5	$	999.5

Payment & Merchandising Technologies
Payment Acceptance and Dispensing Products	$	594.2	$	575.9	$	511.8
Banknotes and Security Products	458.2		—		—
Merchandising Equipment	204.6		200.8		234.0
Total Payment & Merchandising Technologies	$	1,257.0	$	776.7	$	745.8

Aerospace & Electronics
Commercial Original Equipment	$	343.4	$	346.1	$	354.9
Military Original Equipment	195.7		159.0		200.3
Commercial Aftermarket Products	150.5		134.0		132.8
Military Aftermarket Products	53.9		52.3		57.7
Total Aerospace & Electronics	$	743.5	$	691.4	$	745.7

Engineered Materials
FRP - Recreational Vehicles	$	119.0	$	150.5	$	131.2
FRP - Building Products	92.2		95.2		89.6
FRP - Transportation	32.0		29.7		36.2
Total Engineered Materials	$	243.2	$	275.4	$	257.0

Total Net Sales	$	3,345.5	$	2,786.0	$	2,748.0