Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information

Segment Information

Note 9 — Segment Information

The financial results for our operating segments are prepared using a management approach, which is consistent with the basis and manner in which we internally segregate financial information for the purpose of assisting in making internal operating decisions.  We evaluate the performance of our operating segments based on operating income, and generally account for intersegment sales based on arm’s length prices.  Corporate and certain other expenses are not allocated to the operating segments, except to the extent that the expense can be directly attributable to the business segment.

Financial information for our business segments for the quarters ended March 31, 2012 and 2011 is as follows:

(In millions)	Composite Materials(b)			Engineered Products		Corporate & Other(a)			Total
First Quarter 2012
Net sales to external customers:
Commercial aerospace	$	179.5		$	62.8	$	—		$	242.3
Space and defense	63.9			21.0		—			84.9
Industrial	72.8			0.1		—			72.9
Net sales to external customers	316.2			83.9		—			400.1
Intersegment sales	15.9			0.1		(16.0		)	—
Total sales	332.1			84.0		(16.0		)	400.1
Operating income (a)	65.8			11.8		(17.0		)	60.6
Depreciation and amortization	12.9			1.1		—			14.0
Stock-based compensation expense	2.1			0.4		5.0			7.5
Accrual basis additions to capital expenditures	43.6			1.1		—			44.7
First Quarter 2011
Net sales to external customers:
Commercial aerospace	$	143.2		$	54.4	$	—		$	197.6
Space and defense	59.9			19.8		—			79.7
Industrial	53.2			1.1		—			54.3
Net sales to external customers	256.3			75.3		—			331.6
Intersegment sales	13.9			0.3		(14.2		)	—
Total sales	270.2			75.6		(14.2		)	331.6
Operating income (a)	49.8			12.5		(15.1		)	47.2
Depreciation and amortization	12.9			1.1		0.1			14.1
Stock-based compensation expense	1.6			0.3		4.5			6.4
Other operating (income) expense	(5.7		)	—		—			(5.7		)
Accrual basis additions to capital expenditures	24.3			0.9		—			25.2

(a)We do not allocate corporate expenses to the operating segments.

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

Goodwill and Intangible Assets

The carrying amount of gross goodwill and intangible assets by segment is as follows:

(In millions)	March 31, 2012		December 31, 2011
Composite Materials	$	41.7	$	41.4
Engineered Products	16.0		16.0
Goodwill and intangible assets	$	57.7	$	57.4

No impairments have been recorded against these amounts.