Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2016

Reconciliation of revenue from segments to consolidated

Summarized financial information by business segment is as follows:



	For the year ended December 31,
	2016			2015			2014
In thousands
Net sales from continuing operations:
Distribution	$	1,106,322		$	1,177,539		$	1,161,992
Aerospace ^(a)	702,054			597,586			632,970
Net sales	$	1,808,376		$	1,775,125		$	1,794,962
Operating income:
Distribution	$	41,859		$	49,441		$	56,765
Aerospace	115,005			110,328			108,697
Net gain (loss) on sale of assets	(11		)	328			(233		)
Corporate expense	(50,930		)	(55,578		)	(54,722		)
Operating income from continuing operations	105,923			104,519			110,507
Interest expense, net	15,747			13,144			13,382
Other expense, net	472			3,386			623
Earnings before income taxes from continuing operations	89,704			87,989			96,502
Income tax expense	30,850			27,551			30,722
Earnings from continuing operations	$	58,854		$	60,438		$	65,780

^(a) Net sales by the Aerospace segment under contracts with USG agencies (including sales to foreign governments through foreign military sales contracts with USG agencies) totaled $244.4 million, $211.4 million and $271.7 million in 2016, 2015 and 2014, respectively, and represent direct and indirect sales to the USG and related agencies.

Reconciliation of assets from segment to consolidated



	At December 31,
In thousands	2016		2015		2014
Identifiable assets ^(a):
Distribution	$	540,900	$	558,630	$	547,350
Aerospace	720,823		738,426		531,868
Corporate ^(b)	164,563		142,555		120,063
Total assets	$	1,426,286	$	1,439,611	$	1,199,281
Capital expenditures:
Distribution	$	9,016	$	10,685	$	12,205
Aerospace	17,935		13,378		12,044
Corporate	2,826		5,869		4,034
Total capital expenditures	$	29,777	$	29,932	$	28,283
Depreciation and amortization:
Distribution	$	16,107	$	16,368	$	14,461
Aerospace	23,584		16,275		16,039
Corporate	5,238		5,086		5,709
Total depreciation and amortization	$	44,929	$	37,729	$	36,209

^(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, 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,
	2016		2015		2014
in thousands
Bearings and Power Transmission ^(a)	$	548,736	$	594,511	$	630,557
Automation, Control and Energy	337,428		354,771		300,861
Fluid Power	220,158		228,257		230,574
Military and Defense, other than fuzes	205,812		242,112		265,096
Missile and Bomb Fuzes^(b)	164,187		120,755		126,436
Commercial Aerospace and Other	332,055		234,719		241,438
Total sales ^(c)	$	1,808,376	$	1,775,125	$	1,794,962

(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) Sales of missile and bomb fuzes are to the USG and Foreign Militaries and were previously included in the Military and Defense line item.

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,
	2016		2015		2014
In thousands
North America	$	1,514,595	$	1,518,416	$	1,576,041
Europe	168,456		112,057		117,686
Middle East	61,409		65,740		4,378
Asia	46,805		33,020		29,115
Oceania	13,385		37,959		65,122
Other	3,726		7,933		2,620
Total	$	1,808,376	$	1,775,125	$	1,794,962

Geographic distribution of long-lived assets is as follows:



	At December 31,
	2016		2015
In thousands
United States	$	465,906	$	466,626
Germany	151,336		168,182
United Kingdom	44,702		55,627
Czech Republic	4,766		4,389
Mexico	1,650		1,937
Total	$	668,360	$	696,761