Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

16. Segment Information

During the first quarter of 2014, the Company announced the realignment of its businesses into a new segment structure, consisting of four segments and organized around its key end markets to better focus on growth strategies. The new structure is designed also to provide increased opportunities to leverage Dover's scale and capitalize on productivity initiatives. Dover's four segments for management reporting and performance evaluation purposes are as follows:

• Our Energy segment, serving the Drilling & Production and Bearings & Compression end markets, is a provider of customer driven solutions and services for safe and efficient production and processing of fuels worldwide, and has a strong presence in the bearings and compression components markets.

• Our Engineered Systems segment is comprised of two platforms, Printing & Identification and Industrials, and is focused on the design, manufacture and service of critical equipment and components serving the printing & identification, vehicle service, environmental solutions and industrial end markets.

• Our Fluids segment, serving the Fluid Transfer and Pumps end markets, is focused on the safe handling of critical fluids across the oil & gas, retail fueling, chemical, hygienic and industrial end markets.

• Our Refrigeration & Food Equipment segment, serving the Refrigeration and Food Equipment end markets, is a provider of innovative and energy efficient equipment and systems serving the commercial refrigeration and food service industries.

Segment financial information and a reconciliation of segment results to consolidated results follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Revenue:
Energy	$	507,334		$	467,688		$	1,467,123		$	1,396,273
Engineered Systems	695,244			642,205			2,043,979			1,886,956
Fluids	361,797			309,241			1,053,081			893,016
Refrigeration & Food Equipment	528,807			521,322			1,462,657			1,461,364
Intra-segment eliminations	(715		)	(245		)	(1,988		)	(1,010		)
Total consolidated revenue	$	2,092,467		$	1,940,211		$	6,024,852		$	5,636,599
Earnings from continuing operations:
Segment earnings:
Energy	$	122,738		$	119,086		$	356,697		$	347,456
Engineered Systems	119,316			111,850			324,058			297,937
Fluids	67,559			63,056			188,613			169,425
Refrigeration & Food Equipment	78,012			86,446			207,800			220,733
Total segments	387,625			380,438			1,077,168			1,035,551
Corporate expense / other (1)	27,689			32,532			87,317			101,024
Net interest expense	31,239			30,236			95,871			90,752
Earnings before provision for income taxes and discontinued operations	328,697			317,670			893,980			843,775
Provision for taxes	95,872			91,435			267,388			192,269
Earnings from continuing operations	$	232,825		$	226,235		$	626,592		$	651,506

(1) Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive and functional compensation costs, non-service pension costs, non-operating insurance expenses, and various administrative expenses relating to the corporate headquarters.