SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2011

12. SEGMENT INFORMATION

The Corporation manages and evaluates its operations based on the products and services it offers and the different markets it serves. Based on this approach, the Corporation has three reportable segments: Flow Control, Motion Control, and Metal Treatment.

		(In thousands)
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2011		2010		2011		2010
Net sales
Flow Control	$	266,614	$	251,855	$	505,756	$	492,586
Motion Control		176,893		159,491		337,163		307,736
Metal Treatment		72,059		54,880		135,320		108,830
Less: Intersegment revenues		(661)		(4,061)		(1,484)		(5,212)
Total consolidated	$	514,905	$	462,165	$	976,755	$	903,940

Operating income (expense)
Flow Control	$	26,532	$	24,855	$	45,164	$	41,524
Motion Control		18,804		18,343		35,090		32,296
Metal Treatment		10,407		6,457		20,464		12,497
Corporate and eliminations (1)		(4,054)		(6,227)		(7,346)		(11,805)
Total consolidated	$	51,689	$	43,428	$	93,372	$	74,512

(1) Corporate and eliminations includes pension expense, environmental remediation and administrative expenses, legal, foreign currency transactional gains and losses, and other expenses.

Adjustments to reconcile operating income to earnings before income taxes:

		(In thousands)
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2011		2010		2011		2010
Total operating income	$	51,689	$	43,428	$	93,372	$	74,512
Interest expense		(4,967)		(5,700)		(10,088)		(11,367)
Other income, net		29		384		85		536
Earnings before income taxes	$	46,751	$	38,112	$	83,369	$	63,681

		(In thousands)
	June 30,		December 31,
		2011		2010
Identifiable assets
Flow Control	$	1,158,405	$	1,102,417
Motion Control		921,289		873,074
Metal Treatment		265,472		233,356
Corporate and other		32,999		33,171
Total consolidated	$	2,378,165	$	2,242,018