Business Segments

12 Months Ended

Dec. 31, 2012

Business Segments [Abstract]

BUSINESS SEGMENTS:

NOTE 19 – BUSINESS SEGMENTS:

The Corporation organizes its business into two operating segments—Forged and Cast Rolls and Air and Liquid Processing. Summarized financial information concerning the Corporation’s reportable segments is shown in the following tables. Corporate assets included under Identifiable Assets represent primarily cash and cash equivalents and other items not allocated to reportable segments. Long-lived assets exclude deferred income tax assets. Corporate costs are comprised of operating costs of the corporate office and other costs not allocated to the segments.

The accounting policies are the same as those described in Note 1.

			Net Sales				Income Before Income Taxes and Equity Losses in Chinese Joint Venture
	2012		2011		2010		2012			2011			2010
Forged and Cast Rolls	$	189,470	$	248,380	$	240,345	$	18,415		$	38,761		$	48,674
Air and Liquid Processing (1)		103,435		96,436		86,541		7,267			8,155			(12,605	)
Total Reportable Segments		292,905		344,816		326,886		25,682			46,916			36,069
Corporate costs, including other income (expense)								(10,515	)		(12,189	)		(11,447	)
	$	292,905	$	344,816	$	326,886	$	15,167		$	34,727		$	24,622

	Capital Expenditures						Depreciation Expense						Identifiable Assets(2)
	2012		2011		2010		2012		2011		2010		2012		2011		2010
Forged and Cast Rolls	$	8,867	$	15,108	$	34,214	$	9,282	$	8,712	$	6,942	$	268,489	$	265,340	$	251,343
Air and Liquid Processing		798		610		701		1,311		1,374		1,553		186,340		195,463		210,111
Corporate		3		62		86		68		67		70		78,350		70,829		65,509
	$	9,668	$	15,780	$	35,001	$	10,661	$	10,153	$	8,565	$	533,179	$	531,632	$	526,963

	Net Sales(3)						Long-Lived Assets(4)						Income Before Income Taxes and Equity Losses in Chinese Joint Venture
Geographic Areas:	2012		2011		2010		2012		2011		2010		2012		2011		2010
United States (1)	$	143,579	$	148,629	$	129,094	$	228,177	$	238,927	$	251,967	$	14,707	$	30,190	$	17,664
Foreign		149,326		196,187		197,792		41,620		40,536		37,615		460		4,537		6,958
	$	292,905	$	344,816	$	326,886	$	269,797	$	279,463	$	289,582	$	15,167	$	34,727	$	24,622

	Net Sales by Product Line
	2012		2011		2010
Forged and Cast Rolls (5)	$	189,470	$	248,380	$	240,345
Heat Exchange Coils		44,477		41,845		36,812
Centrifugal Pumps		30,551		28,602		25,467
Air Handling Systems		28,407		25,989		24,262
Total Net Sales	$	292,905	$	344,816	$	326,886

(1) Income before income taxes and equity losses in Chinese joint venture for 2010 includes a pre-tax charge of $19,980 for estimated costs of asbestos-related litigation, net of estimated insurance recoveries as described in Note 17.

(2) Identifiable assets for the Forged and Cast Rolls segment include investments in joint ventures of $13,319, $14,872 and $14,160 at December 31, 2012, 2011 and 2010, respectively. The change in the identifiable assets of the Air and Liquid Processing segment relates primarily to the movement in asbestos-related insurance receivables, the balances of which equaled $118,115, $126,206 and $142,089 at December 31, 2012, 2011 and 2010, respectively. See Note 17.

(3) Net sales are attributed to countries based on location of the customer. Sales to individual countries were less than 10% of consolidated net sales in 2012 and 2011. China represented approximately 10% of consolidated net sales for 2010.

(4) Foreign long-lived assets represent primarily investments in joint ventures of $13,319, $14,872 and $14,160 at December 31, 2012, 2011 and 2010, respectively, and assets of the U.K. operations. Long-lived assets of the U.S. include noncurrent asbestos-related insurance receivables of $99,715, $108,206 and $124,089 for 2012, 2011 and 2010, respectively.

(5) For the Forged and Cast Rolls segment, two customers accounted for 23% of its net sales for 2012 and 22% of its net sales for 2011 and one customer accounted for 12% of its net sales for 2010.