Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment

Summarized financial information by business segment is as follows:

	For the year ended December 31,
	2013			2012			2011
In thousands
Net sales from continuing operations:
Distribution	$	1,067,839		$	1,012,059		$	930,131
Aerospace (a)	613,967			580,769			547,403
Net sales	$	1,681,806		$	1,592,828		$	1,477,534
Operating income:
Distribution	$	43,326		$	50,560		$	46,894
Aerospace (b)	102,573			89,142			80,424
Net gain (loss) on sale of assets	(128		)	(105		)	(269		)
Corporate expense	(45,291		)	(46,759		)	(39,468		)
Operating income from continuing operations	100,480			92,838			87,581
Interest expense, net	12,559			12,185			11,646
Other expense (income), net	425			(175		)	(339		)
Earnings before income taxes from continuing operations	87,496			80,828			76,274
Income tax expense	30,797			26,900			26,346
Earnings from continuing operations	$	56,699		$	53,928		$	49,928

(a) Net sales by the Aerospace segment under contracts with U.S. Government agencies (including sales to foreign governments through foreign military sales contracts with U.S. Government agencies) totaled $262.9 million, $303.5 million and $268.1 million in 2013, 2012 and 2011, respectively.

(b) Operating income for 2013 includes a $2.1 million non-cash non-tax deductible goodwill impairment charge. Operating income for 2012 includes $3.3 million of net loss associated with the resolution of a program related matter. Operating income for 2011 includes $6.2 million in expense associated with the settlement of the FMU-143 matter.

20. SEGMENT AND GEOGRAPHIC INFORMATION (CONTINUED)

	At December 31,
In thousands	2013		2012		2011
Identifiable assets (a):
Distribution	$	480,117	$	449,552	$	374,144
Aerospace	557,831		521,080		513,556
Corporate (b)	102,683		126,361		108,698
Total assets	$	1,140,631	$	1,096,993	$	996,398
Capital expenditures:
Distribution	$	12,110	$	10,867	$	8,044
Aerospace	21,193		15,293		11,958
Corporate	7,625		6,409		8,814
Total capital expenditures	$	40,928	$	32,569	$	28,816
Depreciation and amortization:
Distribution	$	11,556	$	9,565	$	7,059
Aerospace	15,041		13,947		12,540
Corporate	5,278		4,871		3,569
Total depreciation and amortization	$	31,875	$	28,383	$	23,168

(a) Identifiable assets are year-end assets at their respective net carrying values segregated as to segment and corporate use.

(b) For the periods presented, the corporate identifiable assets are principally comprised of cash, short-term and long-term deferred income tax assets, capitalized debt issuance costs, cash surrender value of life insurance policies and fixed as

Revenue from External Customers by Products and Services [Table Text Block]

The following table summarizes total sales of the Company, which are principally derived from the sale of products:

	For the year ended December 31,
	2013		2012		2011
in thousands
Bearings and Power Transmission (a)	$	649,926	$	651,635	$	641,532
Automation, Control and Energy	271,465		220,999		193,130
Fluid Power	146,448		139,425		95,469
Military and Defense	384,088		346,290		352,735
Commercial Aerospace	229,879		234,479		194,668
Total sales (b)	$	1,681,806	$	1,592,828	$	1,477,534

(a) Aerospace bearings are not included in this caption, as they are broken out by Military and Defense and Commercial Aerospace.

(b) Service revenue was not material for the years ended December 31, 2013, 2012 and 2011.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Sales are attributed to geographic regions based on the location to which the product is shipped. Geographic distribution of sales recorded by continuing operations is as follows:

	For the year ended December 31,
	2013		2012		2011
In thousands
North America	$	1,470,360	$	1,444,856	$	1,351,766
Europe	107,297		99,187		84,542
Middle East	39,357		4,023		6,078
Asia	32,414		29,196		22,336
Oceania	28,892		10,249		9,163
Other	3,486		5,317		3,649
Total	$	1,681,806	$	1,592,828	$	1,477,534

Geographic distribution of long-lived assets is as follows:

	At December 31,
	2013		2012
In thousands
United States	$	373,268	$	354,627
United Kingdom	64,585		61,562
Germany	20,260		12,718
Mexico	2,978		3,261
Total	$	461,091	$	432,168