Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2014

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,
	2014			2013			2012
In thousands
Net sales from continuing operations:
Distribution	$	1,161,992		$	1,039,954		$	982,573
Aerospace (a)	632,970			613,967			580,769
Net sales	$	1,794,962		$	1,653,921		$	1,563,342
Operating income:
Distribution	$	56,765		$	46,206		$	49,316
Aerospace (b)	108,697			102,573			89,142
Net gain (loss) on sale of assets	(233		)	(142		)	(110		)
Corporate expense	(54,722		)	(45,291		)	(46,759		)
Operating income from continuing operations	110,507			103,346			91,589
Interest expense, net	13,382			12,294			12,113
Other expense (income), net	623			398			(219		)
Earnings before income taxes from continuing operations	96,502			90,654			79,695
Income tax expense	30,722			31,588			26,748
Earnings from continuing operations	$	65,780		$	59,066		$	52,947

^(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 $271.7 million, $262.9 million and $303.5 million in 2014, 2013 and 2012, respectively.

^(b) Operating income for 2013 includes a 2.1 million non-cash non-tax deductible goodwill impairment charge. Operating income for 2012 includes a $3.3 million loss associated with the resolution of a program related matter.

19. SEGMENT AND GEOGRAPHIC INFORMATION (CONTINUED)

	At December 31,
In thousands	2014		2013		2012
Identifiable assets (a):
Distribution	$	547,350	$	480,117	$	449,552
Aerospace	531,868		557,831		521,080
Corporate (b)	121,987		102,683		126,361
Total assets	$	1,201,205	$	1,140,631	$	1,096,993
Capital expenditures:
Distribution	$	12,205	$	12,034	$	10,684
Aerospace	12,044		21,193		15,293
Corporate	4,034		7,625		6,409
Total capital expenditures	$	28,283	$	40,852	$	32,386
Depreciation and amortization:
Distribution	$	14,461	$	11,236	$	9,347
Aerospace	16,039		15,041		13,947
Corporate	5,709		5,278		4,871
Total depreciation and amortization	$	36,209	$	31,555	$	28,165

(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 assets.

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,
	2014		2013		2012
in thousands
Bearings and Power Transmission (a)	$	630,557	$	622,041	$	622,149
Automation, Control and Energy	300,861		271,465		220,999
Fluid Power	230,574		146,448		139,425
Military and Defense	391,532		384,088		346,290
Commercial Aerospace	241,438		229,879		234,479
Total sales (b)	$	1,794,962	$	1,653,921	$	1,563,342

(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, 2014, 2013 and 2012.

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,
	2014		2013		2012
In thousands
North America	$	1,576,041	$	1,442,475	$	1,415,370
Europe	117,686		107,297		99,187
Middle East	4,378		39,357		4,023
Asia	29,115		32,414		29,196
Oceania	65,122		28,892		10,249
Other	2,620		3,486		5,317
Total	$	1,794,962	$	1,653,921	$	1,563,342

Geographic distribution of long-lived assets is as follows:

	At December 31,
	2014		2013
In thousands
United States	$	419,457	$	373,268
United Kingdom	60,175		64,585
Germany	18,842		20,260
Mexico	1,774		2,978
Total	$	500,248	$	461,091