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SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2012
Segment Information [Abstract]  
SEGMENT INFORMATION

20.       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, Controls, and Surface Technologies. The Flow Control segment primarily designs, manufactures, distributes, and services a broad range of highly engineered flow control products including valves, pumps, motors, generators, instrumentation, and control electronics for severe service military and commercial applications. The Controls segment primarily designs, develops, and manufactures mechanical systems, drive systems, and mission-critical embedded computing products and sensors mainly for the aerospace and defense industries. Surface Technologies provides various metallurgical services, principally shot peening, laser peening, coatings, anodizing, heat treating and analytical services. The segment provides these services to a broad spectrum of customers in various industries, including aerospace, automotive, construction equipment, oil and gas, petrochemical, and metal working.

The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. Interest expense and income taxes are not reported on an operating segment basis because they are not considered in the segments' performance evaluation by the Corporation's Chairman and CEO, its chief operating decision-maker.

During 2012, 2011, and 2010, the Corporation had no direct defense customer or commercial customer representing more than 10% of consolidated revenue.

   December 31,
(In thousands) 2012  2011  2010
          
Net sales         
Flow Control $ 1,095,349 $ 1,060,785 $ 1,024,860
Controls   735,085   714,309   645,587
Surface Technologies   277,430   247,989   190,982
Less: Intersegment Revenues   (10,148)   (6,341)   (6,916)
Total Consolidated $ 2,097,716 $ 2,016,742 $ 1,854,513

Operating income (expense)         
Flow Control $ 78,779 $ 103,421 $ 104,391
Controls   86,515   75,423   74,173
Surface Technologies   27,494   31,476   18,941
Corporate and Eliminations (1)   (31,342)   (23,466)   (30,820)
Total Consolidated $ 161,446 $ 186,854 $ 166,685

Depreciation and amortization expense         
Flow Control $ 42,091 $ 37,617 $ 35,086
Controls   31,968   30,724   27,903
Surface Technologies   17,459   18,099   15,498
Corporate   2,378   1,860   1,459
Total Consolidated $ 93,896 $ 88,300 $ 79,946

Segment assets         
Flow Control $ 1,417,047 $ 1,257,142 $ 1,102,417
Controls   1,365,112   1,016,935   864,197
Surface Technologies   302,079   286,084   233,356
Corporate   30,350   75,386   33,171
Total Consolidated $ 3,114,588 $ 2,635,547 $ 2,233,141

Capital expenditures         
Flow Control $ 27,612 $ 34,655 $ 18,795
Controls   25,199   32,839   17,967
Surface Technologies   24,405   14,572   13,884
Corporate   5,738   2,256   2,123
Total Consolidated $ 82,954 $ 84,322 $ 52,769
          
(1) Corporate and Eliminations includes pension expense, environmental remediation and administrative expenses, legal, foreign currency transactional gains and losses, and other expenses.
          

Reconciliations         
   December 31,
(In thousands) 2012  2011  2010
          
Earnings before taxes:         
Total segment operating income $ 192,788 $ 210,320 $ 197,505
Corporate and administrative   (31,342)   (23,466)   (30,820)
Interest expense    (26,329)   (20,834)   (22,107)
Other income, net   245   862   575
Total consolidated earnings before tax $ 135,362 $ 166,882 $ 145,153
          

Assets:         
Total assets for reportable segments $ 3,084,238 $ 2,560,161 $ 2,199,970
Non-segment cash   550   227   299
Other assets   29,800   75,159   32,872
Total consolidated assets $ 3,114,588 $ 2,635,547 $ 2,233,141
          

Geographic Information         
   December 31,
(In thousands) 2012  2011  2010
          
Revenues          
United States of America $ 1,451,166 $ 1,409,353 $ 1,302,133
United Kingdom   153,093   139,002   115,331
Canada   83,027   81,498   58,855
Other foreign countries   410,430   386,889   378,194
Consolidated total $ 2,097,716 $ 2,016,742 $ 1,854,513

Long-Lived Assets         
United States of America $ 352,615 $ 327,989 $ 284,717
United Kingdom   43,341   38,859   39,479
Canada   31,740   31,914   33,578
Other foreign countries   61,897   43,966   39,188
Consolidated total $ 489,593 $ 442,728 $ 396,962