Segment Reporting

6 Months Ended

Jan. 31, 2022

Segment Reporting, Measurement Disclosures [Abstract]

Segment Reporting

Segment Reporting

The Company’s reportable segments are Engine Products and Industrial Products. The Company determines its operating segments consistent with the manner in which it manages its operations and evaluates performance for internal review and decision-making. Corporate and unallocated includes corporate expenses determined to be non-allocable to the segments, such as interest expense, restructuring charges and certain incentive compensation.

The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and sharing of assets. Therefore, the Company does not represent these segments, if operated independently, would report earnings before income taxes and other financial information shown below.

Segment details were as follows (in millions):

	Three Months Ended January 31,				Six Months Ended January 31,
	2022		2021		2022		2021
Net sales
Engine Products segment	$	554.1	$	462.4	$	1,081.3	$	898.6
Industrial Products segment	248.4		216.7		482.1		417.2
Total Company	$	802.5	$	679.1	$	1,563.4	$	1,315.8
Earnings before income taxes
Engine Products segment	$	65.0	$	61.3	$	137.3	$	121.7
Industrial Products segment	37.5		25.8		75.8		53.3
Corporate and unallocated	(8.0)		(13.2)		(14.6)		(18.9)
Total Company	$	94.5	$	73.9	$	198.5	$	156.1

Net sales by product group were as follows (in millions):

	Three Months Ended January 31,				Six Months Ended January 31,
	2022		2021		2022		2021
Engine Products segment
Off-Road	$	95.5	$	77.9	$	189.4	$	142.6
On-Road	33.1		33.4		64.6		65.3
Aftermarket	398.4		330.2		772.7		647.4
Aerospace and Defense	27.1		20.9		54.6		43.3
Total Engine Products segment	554.1		462.4		1,081.3		898.6
Industrial Products segment
Industrial Filtration Solutions	171.2		149.9		336.7		285.6
Gas Turbine Systems	29.6		23.4		46.2		46.4
Special Applications	47.6		43.4		99.2		85.2
Total Industrial Products segment	248.4		216.7		482.1		417.2
Total Company	$	802.5	$	679.1	$	1,563.4	$	1,315.8

Concentrations

There were no customers that accounted for over 10% of net sales for the three and six months ended January 31, 2022 or 2021. There were no customers that accounted for over 10% of gross accounts receivable as of January 31, 2022 or as of July 31, 2021.