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Segment Reporting
 6 Months Ended
Jan. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Segment Reporting
Note 18. Segment Reporting
During the first quarter of fiscal 2023, the Company announced a company-wide organizational redesign to further support the Company’s growth strategies and better serve its customers. Effective November 1, 2022, as a result of the organizational redesign, the Company established a new segment reporting structure which resulted in three reportable segments: Mobile Solutions, Industrial Solutions and Life Sciences. The organizational structure also includes Corporate and unallocated which includes interest expense and certain corporate expenses determined to be non-allocable to the segments, such as restructuring charges and incentive compensation. 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. All prior segment information has been recast to reflect the Company’s new segment structure and current period presentation.
The Mobile Solutions segment is organized based on a combination of customers and products and consists of the Off-Road, On-Road and Aftermarket business units. Within these business units, products consist of replacement filters for both air and liquid filtration applications as well as exhaust and emissions. Applications include air filtration systems, fuel and lube systems, exhaust and emissions systems, and sensors, indicators and monitoring systems. Mobile Solutions sells to original equipment manufacturers (OEMs) in the construction, mining, agriculture and transportation end markets and to independent distributors, OEM dealer networks, private label accounts and large fleets.
The Industrial Solutions segment is organized based on product type and consists of the Industrial Filtration Solutions (IFS) and Aerospace and Defense business units. Within the IFS business unit, products consist of dust, fume and mist collectors, compressed air purification systems, air filtration systems for gas turbines, hydraulic applications as well as gas and liquid filtration for industrial processes. Aerospace and Defense products consist of air, fuel and lube filtration sold to the aerospace fixed-wing, rotorcraft and defense ground vehicle industries.
The Life Sciences segment consists of micro-environment gas and liquid filtration for food, beverage and industrial processes, bioprocessing equipment, including bioreactors and fermenters, polytetrafluoroethylene membrane-based products, as well as specialized air and gas filtration systems for applications including hard disk drives, semiconductor manufacturing, sensors, indicators and monitoring systems.
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 as stated below.
Segment details were as follows (in millions):
Three Months Ended
January 31,		Six Months Ended
January 31,
2023202220232022
Net sales
Mobile Solutions$522.5 $513.5 $1,077.4 $1,000.8 
Industrial Solutions246.4 218.5 476.0 419.3 
Life Sciences59.4 70.5 122.2 143.3 
Total Company$828.3 $802.5 $1,675.6 $1,563.4 
Earnings (loss) before income taxes
Mobile Solutions$78.6 $58.6 $158.9 $124.2 
Industrial Solutions46.3 27.2 83.9 51.8 
Life Sciences6.3 16.7 17.1 37.1 
Corporate and unallocated(17.9)(8.0)(30.1)(14.6)
Total Company$113.3 $94.5 $229.8 $198.5 
Assets by segment were as follows (in millions):
January 31, 2023July 31, 2022
Mobile Solutions$1,308.0 $1,319.4 
Industrial Solutions793.9 816.0 
Life Sciences281.0 267.8 
Corporate and unallocated195.7 197.1 
Total assets$2,578.6 $2,600.3 
Net sales by business unit were as follows (in millions):
Three Months Ended
January 31,		Six Months Ended
January 31,
2023202220232022
Mobile Solutions segment
Off-Road$106.2 $91.9 $209.8 $182.3 
On-Road34.5 33.1 70.5 64.6 
Aftermarket381.8 388.5 797.1 753.9 
Total Mobile Solutions segment522.5 513.5 1,077.4 1,000.8 
Industrial Solutions segment
Industrial Filtration Solutions211.8 191.4 407.8 364.7 
Aerospace and Defense34.6 27.1 68.2 54.6 
Total Industrial Solutions segment246.4 218.5 476.0 419.3 
Life Sciences segment
Total Life Sciences segment59.4 70.5 122.2 143.3 
Total Company$828.3 $802.5 $1,675.6 $1,563.4 
Concentrations
There were no customers that accounted for over 10% of net sales for the three and six months ended January 31, 2023 or 2022. There were no customers that accounted for over 10% of gross accounts receivable as of January 31, 2023 or as of July 31, 2022.