SEGMENT AND GEOGRAPHIC INFORMATION

3 Months Ended

Mar. 29, 2014

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

SEGMENT INFORMATION

The Company’s business consists of the Water Systems and Fueling Systems reportable segments, based on the principal end market served.  The Company includes unallocated corporate expenses and inter-company eliminations in an “Other” segment that, together with the Water Systems and Fueling Systems segments, represent the Company.

The Water Systems segment designs, manufactures and sells motors, pumps, electronic controls, and related parts and equipment primarily for use in submersible water and other fluid system applications. The Fueling Systems segment designs, manufactures, and sells pumps, electronic controls and related parts and equipment primarily for use in submersible fueling system applications. The Fueling Systems segment integrates and sells motors and electronic controls produced by the Water Systems segment.

The accounting policies of the Company's reportable segments are the same as those described in Note 1 (Summary of Significant Accounting Policies). Performance is evaluated based on the sales and operating income of the segments and a variety of ratios to measure performance. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.

Financial information by reportable segment is as follows:

	First Quarter Ended				First Quarter Ended
	Net sales to external customers				Operating income (loss)
(In millions)	March 29, 2014		March 30, 2013		March 29, 2014			March 30, 2013
Water Systems	$	184.6	$	176.4	$	29.2		$	28.7
Fueling Systems	46.8		46.1		9.1			6.2
Other	—		—		(12.3		)	(11.7		)
Consolidated	$	231.4	$	222.5	$	26.0		$	23.2
	Total assets
	March 29, 2014		December 28, 2013
Water Systems	$	772.3	$	714.7
Fueling Systems	252.8		247.9
Other	64.6		89.3
Consolidated	$	1,089.7	$	1,051.9

Cash is the major asset group in “Other” of total assets.