XML 156 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Operating Segments and Related Disclosures (Tables)
 12 Months Ended
Nov. 30, 2013
Segment Reporting [Abstract]  
Selected Financial Information for Each Reportable Segment

Selected financial information for each reportable segment was as follows:

 

     Year Ended  
     2013     2012     2011  
     (In millions)  

Net Sales:

       

Aerospace and Defense

    $ 1,377.4      $ 986.1      $ 909.7   

Real Estate

      5.7        8.8        8.4   
  

 

 

    

 

 

    

 

 

  

Total

    $ 1,383.1      $ 994.9      $ 918.1   
  

 

 

    

 

 

    

 

 

  

Segment Performance:

       

Aerospace and Defense

    $ 147.6      $ 115.5      $ 108.6   

Environmental remediation provision adjustments

      (4.6 )      (11.4 )      (8.9 ) 

Retirement benefit plan expense

      (44.2 )      (18.9 )      (21.0 ) 

Unusual items (see Note 15)

      (1.6 )      (0.7 )      (4.1 ) 
  

 

 

    

 

 

    

 

 

  

Aerospace and Defense Total

      97.2        84.5        74.6   
  

 

 

    

 

 

    

 

 

  

Real Estate

      3.8        3.7        5.6   
  

 

 

    

 

 

    

 

 

  

Total

    $ 101.0      $ 88.2      $ 80.2   
  

 

 

    

 

 

    

 

 

  

Reconciliation of segment performance to (loss) income from continuing operations before income taxes:

       

Segment Performance

    $ 101.0      $ 88.2      $ 80.2   

Interest expense

      (48.7 )      (22.3 )      (30.8 ) 

Interest income

      0.2        0.6        1.0   

Stock-based compensation

      (14.1 )      (6.5 )      (3.7 ) 

Corporate retirement benefit plan expense

      (20.8 )      (22.1 )      (25.4 ) 

Corporate and other expenses

      (20.9 )      (12.7 )      (10.8 ) 

Corporate unusual items (see Note 15)

      (22.9 )      (12.0 )      (1.5 ) 
  

 

 

    

 

 

    

 

 

  

(Loss) income from continuing operations before income taxes

    $ (26.2 )    $ 13.2      $ 9.0   
  

 

 

    

 

 

    

 

 

  

Aerospace and Defense

    $ 63.2      $ 37.2      $ 21.1   

Real Estate

      —       —       —  

Corporate

      —       —       —  
  

 

 

    

 

 

    

 

 

  

Capital Expenditures

    $ 63.2      $ 37.2      $ 21.1   
  

 

 

    

 

 

    

 

 

  

Aerospace and Defense

    $ 43.1      $ 21.7      $ 24.3   

Real Estate

      0.7        0.6        0.3   

Corporate

      —       —       —  
  

 

 

    

 

 

    

 

 

  

Depreciation and Amortization

    $ 43.8      $ 22.3      $ 24.6   
  

 

 

    

 

 

    

 

 

  
Components of Assets
     As of November 30,  
     2013      2012  
     (In millions)  

Aerospace and Defense(1)

    $ 1,349.1       $ 637.6   

Real Estate

      109.3         82.3   
  

 

 

     

 

 

  

Identifiable assets

      1,458.4         719.9   

Corporate

      296.9         199.4   
  

 

 

     

 

 

  

Assets

    $ 1,755.3       $ 919.3   
  

 

 

     

 

 

  

 

 

(1)

The Aerospace and Defense operating segment had $159.6 million and $94.9 million of goodwill as of November 30, 2013 and 2012, respectively. In addition, as of November 30, 2013 and 2012 intangible assets balances were $135.7 million and $13.9 million, respectively, for the Aerospace and Defense operating segment.