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Segment Information (Tables)
6 Months Ended
Jun. 30, 2011
Segment Information  
Schedule of segment reporting information by segment

 

 

 

 

(Unaudited)

 

(In millions)

 

Composite
Materials (a)

 

Engineered
Products

 

Corporate
& Other (b)

 

Total

 

Second Quarter 2011

 

 

 

 

 

 

 

 

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Commercial aerospace

 

$

150.9

 

$

56.9

 

$

 

$

207.8

 

Space and defense

 

62.5

 

19.2

 

 

81.7

 

Industrial

 

63.4

 

0.8

 

 

64.2

 

Net sales to external customers

 

276.8

 

76.9

 

 

353.7

 

Intersegment sales

 

13.9

 

0.2

 

(14.1

)

 

Total sales

 

290.7

 

77.1

 

(14.1

)

353.7

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

48.5

 

11.9

 

(11.0

)

49.4

 

Depreciation and amortization

 

12.8

 

1.0

 

 

13.8

 

Stock-based compensation expense

 

0.9

 

0.1

 

1.4

 

2.4

 

Accrual basis additions to capital expenditures

 

28.4

 

1.5

 

 

29.9

 

 

 

 

 

 

 

 

 

 

 

Second Quarter 2010

 

 

 

 

 

 

 

 

 

Net sales to external customers:

 

 

 

 

 

 

 

 

 

Commercial aerospace

 

$

113.9

 

$

47.1

 

$

 

$

161.0

 

Space and defense

 

60.7

 

18.7

 

 

79.4

 

Industrial

 

64.3

 

0.4

 

 

64.7

 

Net sales to external customers

 

238.9

 

66.2

 

 

305.1

 

Intersegment sales

 

11.5

 

0.3

 

(11.8

)

 

Total sales

 

250.4

 

66.5

 

(11.8

)

305.1

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

42.8

 

10.7

 

(13.0

)

40.5

 

Depreciation and amortization

 

12.7

 

0.9

 

 

13.6

 

Stock-based compensation expense

 

1.1

 

0.2

 

1.3

 

2.6

 

Accrual basis additions to capital expenditures

 

6.2

 

0.5

 

0.1

 

6.8

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2011

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

 

 

 

 

 

 

 

 

Commercial aerospace

 

$

294.1

 

$

111.3

 

$

 

$

405.4

 

Space and defense

 

122.4

 

39.0

 

 

161.4

 

Industrial

 

116.6

 

1.9

 

 

118.5

 

Net sales to external customers

 

533.1

 

152.2

 

 

685.3

 

Intersegment sales

 

27.8

 

0.5

 

(28.3

)

 

Total sales

 

560.9

 

152.7

 

(28.3

)

685.3

 

 

 

 

 

 

 

 

 

 

 

Operating income (a)

 

98.3

 

24.4

 

(26.1

)

96.6

 

Depreciation and amortization

 

25.7

 

2.1

 

0.1

 

27.9

 

Stock-based compensation expense

 

2.5

 

0.4

 

5.9

 

8.8

 

Other operating (income) expense

 

(5.7

)

 

 

(5.7

)

Accrual basis additions to capital expenditures

 

52.7

 

2.4

 

 

55.1

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2010

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

 

 

 

 

 

 

 

 

Commercial aerospace

 

$

223.2

 

$

89.8

 

$

 

$

313.0

 

Space and defense

 

113.8

 

38.1

 

 

151.9

 

Industrial

 

102.3

 

0.9

 

 

103.2

 

Net sales to external customers

 

439.3

 

128.8

 

 

568.1

 

Intersegment sales

 

20.4

 

0.3

 

(20.7

)

 

Total sales

 

459.7

 

129.1

 

(20.7

)

568.1

 

 

 

 

 

 

 

 

 

 

 

Operating income (b)

 

73.3

 

22.1

 

(31.1

)

64.3

 

Depreciation and amortization

 

23.6

 

1.9

 

0.1

 

25.6

 

Stock-based compensation expense

 

2.7

 

0.5

 

5.1

 

8.3

 

Other operating (income) expense

 

 

 

3.5

 

3.5

 

Accrual basis additions to capital expenditures

 

13.0

 

0.6

 

0.1

 

13.7

 

 

(a)         First six months 2011 operating income for Composite Materials includes a $5.7 million gain resulting from the curtailment of our U.K. pension plan.

 

(b)         First six months 2010 operating income for Corporate & Other includes a $3.5 million charge to the environmental reserves primarily for remediation at a manufacturing facility sold in 1986.

Schedule of goodwill and intangible assets by segment

 

(In millions)

 

June 30,
2011

 

December 31,
2010

 

Composite Materials

 

$

40.8

 

$

40.1

 

Engineered Products

 

16.0

 

16.1

 

Goodwill and intangible assets

 

$

56.8

 

$

56.2