Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Reconciliation of revenue from segments to consolidated

Summarized financial information by business segment is as follows:

	For the year ended December 31,
	2015			2014			2013
In thousands
Net sales from continuing operations:
Distribution	$	1,177,539		$	1,161,992		$	1,039,954
Aerospace (a)	597,586			632,970			613,967
Net sales	$	1,775,125		$	1,794,962		$	1,653,921
Operating income:
Distribution	$	49,441		$	56,765		$	46,206
Aerospace (b)	110,328			108,697			102,573
Net gain (loss) on sale of assets	328			(233		)	(142		)
Corporate expense	(55,578		)	(54,722		)	(45,291		)
Operating income from continuing operations	104,519			110,507			103,346
Interest expense, net	13,144			13,382			12,294
Other expense (income), net	3,386			623			398
Earnings before income taxes from continuing operations	87,989			96,502			90,654
Income tax expense	27,551			30,722			31,588
Earnings from continuing operations	$	60,438		$	65,780		$	59,066

^(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 $211.4 million, $271.7 million and $262.9 million in 2015, 2014 and 2013, respectively, and represent direct and indirect sales to the U.S. Government and related agencies.

^(b) Operating income for 2013 includes a $2.1 million non-cash non-tax deductible goodwill impairment charge.

Reconciliation of assets from segment to consolidated

	At December 31,
In thousands	2015		2014		2013
Identifiable assets (a):
Distribution	$	558,630	$	547,350	$	480,117
Aerospace	738,426		531,868		557,831
Corporate (b)	144,149		121,987		102,683
Total assets	$	1,441,205	$	1,201,205	$	1,140,631
Capital expenditures:
Distribution	$	10,685	$	12,205	$	12,034
Aerospace	13,378		12,044		21,193
Corporate	5,869		4,034		7,625
Total capital expenditures	$	29,932	$	28,283	$	40,852
Depreciation and amortization:
Distribution	$	16,368	$	14,461	$	11,236
Aerospace	16,275		16,039		15,041
Corporate	5,086		5,709		5,278
Total depreciation and amortization	$	37,729	$	36,209	$	31,555

(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

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

	For the year ended December 31,
	2015		2014		2013
in thousands
Bearings and Power Transmission (a)	$	594,511	$	630,557	$	622,041
Automation, Control and Energy	354,771		300,861		271,465
Fluid Power	228,257		230,574		146,448
Military and Defense	362,867		391,532		384,088
Commercial Aerospace and Other	234,719		241,438		229,879
Total sales (b)	$	1,775,125	$	1,794,962	$	1,653,921

(a) Aerospace bearings are not included in this caption, as they are reported in either the "Military and Defense" or "Commercial Aerospace and Other" categories.

(b) Service revenue was not material for the years ended December 31, 2015, 2014 and 2013.

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,
	2015		2014		2013
In thousands
North America	$	1,518,416	$	1,576,041	$	1,442,475
Europe	112,057		117,686		107,297
Middle East	65,740		4,378		39,357
Asia	33,020		29,115		32,414
Oceania	37,959		65,122		28,892
Other	7,933		2,620		3,486
Total	$	1,775,125	$	1,794,962	$	1,653,921

Geographic distribution of long-lived assets is as follows:

	At December 31,
	2015		2014
In thousands
United States	$	468,220	$	419,457
Germany	168,182		18,842
United Kingdom	55,627		60,175
Czech Republic	4,389		—
Mexico	1,937		1,774
Total	$	698,355	$	500,248