Segment Reporting

6 Months Ended

Jan. 31, 2012

Segment Reporting [Abstract]

Segment Reporting

Note G – Segment Reporting

The Company has two reportable segments, Engine Products and Industrial Products, that have been identified based on the Company's internal organization structure, management of operations, and performance evaluation. Corporate and Unallocated includes corporate expenses determined to be non-allocable to the segments and interest income and expense. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. Therefore, the Company does not represent that these segments, if operated independently, would report the operating profit and other financial information shown below. Segment detail is summarized as follows (thousands of dollars):

	Engine Products		Industrial Products		Corporate & Unallocated			Total Company
Three Months Ended January 31, 2012:
Net sales	$	370,834	$	210,049	$	—		$	580,883
Earnings before income taxes		48,418		30,597		(2,596	)		76,419
Three Months Ended January 31, 2011:
Net sales	$	331,122	$	205,983	$	—		$	537,105
Earnings before income taxes		44,203		29,127		(5,323	)		68,007
Six Months Ended January 31, 2012:
Net sales	$	764,559	$	424,619	$	—		$	1,189,178
Earnings before income taxes		108,296		64,896		(4,756	)		168,436
Assets		861,191		506,618		313,580			1,681,389
Six Months Ended January 31, 2011:
Net sales	$	664,891	$	409,123	$	—		$	1,074,014
Earnings before income taxes		92,654		59,162		(11,852	)		139,964
Assets		779,080		482,014		334,013			1,595,107

The above table includes $0.7 million of restructuring expenses in the Industrial Products segment for the six months ended January 31, 2011.

There were no Customers over 10 percent of net sales for the three or six months ended January 31, 2012 and 2011. There was one Customer over 10 percent of gross accounts receivable as of January 31, 2012 and 2011.