Segment Reporting

9 Months Ended

Apr. 30, 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 April 30, 2012:
Net sales	$	407,041	$	240,196	$	—		$	647,237
Earnings before income taxes		62,136		38,792		(938	)		99,990
Three Months Ended April 30, 2011:
Net sales	$	377,609	$	216,956	$	—		$	594,565
Earnings before income taxes		56,469		33,074		(7,727	)		81,816
Nine Months Ended April 30, 2012:
Net sales	$	1,171,600	$	664,815	$	—		$	1,836,415
Earnings before income taxes		170,432		103,688		(5,694	)		268,426
Assets		879,228		534,686		340,359			1,754,273
Nine Months Ended April 30, 2011:
Net sales	$	1,042,500	$	626,079	$	—		$	1,668,579
Earnings before income taxes		149,123		92,236		(19,579	)		221,780
Assets		843,450		503,962		394,395			1,741,807

The above table includes $0.7 million of restructuring expenses in the Industrial Products segment for the nine months ended April 30, 2011.

There were no Customers over 10 percent of net sales for the three or nine months ended April 30, 2012 and 2011. There were no Customers over 10 percent of gross accounts receivable as of April 30, 2012 and 2011.