Segment Information (Tables)

6 Months Ended

Jul. 01, 2012

Segment Information

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

	Second Quarter Ended						Six Months Ended
	July 1, 2012			July 3, 2011			July 1, 2012			July 3, 2011
	(in millions)
Net Sales
North America	$	221.8		$	212.0		$	431.8		$	414.1
EMEA	142.8			157.8			292.0			281.8
Asia	6.5			5.9			11.5			9.7
Consolidated net sales	$	371.1		$	375.7		$	735.3		$	705.6
Operating income (loss)
North America	$	26.7		$	26.3		$	46.9		$	53.0
EMEA	12.0			6.9			24.8			16.6
Asia	2.1			0.9			3.5			1.7
Subtotal reportable segments	40.8			34.1			75.2			71.3
Corporate (*)	(7.1		)	(7.5		)	(14.6		)	(21.8		)
Consolidated operating income	33.7			26.6			60.6			49.5
Interest income	0.2			0.2			0.4			0.5
Interest expense	(6.1		)	(6.7		)	(12.3		)	(12.6		)
Other	—			(0.6		)	0.9			(0.7		)
Income from continuing operations before income taxes	27.8			$	19.5		$	49.6		$	36.7
Capital Expenditures
North America	$	1.8		$	1.9		$	4.4		$	5.3
EMEA	2.4			3.2			4.6			6.3
Asia	0.5			0.3			0.6			0.4
Consolidated capital expenditures	$	4.7		$	5.4		$	9.6		$	12.0
Depreciation and Amortization
North America	$	5.2		$	5.2		$	10.0		$	9.6
EMEA	6.8			8.4			14.1			14.8
Asia	0.5			0.5			1.0			1.0
Consolidated depreciation and amortization	$	12.5		$	14.1		$	25.1		$	25.4
Identifiable Assets (at end of period)
North America							$	790.0		$	844.9
EMEA							750.5			948.8
Asia							90.8			85.1
Discontinued operations							—			1.6
Consolidated identifiable assets							$	1,631.3		$	1,880.4
Property, plant and equipment, net (at end of period)
North America							$	73.7		$	83.8
EMEA							123.9			153.1
Asia							14.5			15.3
Consolidated property, plant and equipment, net							$	212.1		$	252.2

*Corporate expenses are primarily for administrative compensation expense, internal controls costs, professional fees, including legal and audit expenses, shareholder services and benefit administration costs. These costs are not allocated to the geographic segments as they are viewed as corporate functions that support all activities.

Schedule of U.S. net sales and U.S. long-lived assets of the Company's North America segment

	Second Quarter Ended				Six Months Ended
	July 1,  2012		July 3,  2011		July 1,  2012		July 3,  2011
	(in millions)
U.S. net sales	$	199.7	$	192.5	$	389.7	$	375.4
U.S. property, plant and equipment (at end of period)					$	71.6	$	78.6

Schedule of intersegment sales for North America, EMEA and Asia

	Second Quarter Ended				Six Months Ended
	July 1,  2012		July 3,  2011		July 1,  2012		July 3,  2011
	(in millions)
Intersegment Sales
North America	$	1.2	$	0.8	$	2.6	$	1.7
EMEA	2.0		2.3		4.6		4.2
Asia	35.3		37.2		66.4		67.9
Intersegment sales	$	38.5	$	40.3	$	73.6	$	73.8

Schedule of net sales to third parties for the four product categories

	Second Quarter Ended				Six Months Ended
	July 1,  2012		July 3,  2011		July 1,  2012		July 3,  2011
	(in millions)
Net Sales
Residential & commercial flow control	$	211.3	$	199.2	$	412.5	$	365.6
HVAC & gas	106.8		122.1		216.6		235.6
Drains & water re-use	35.0		36.6		68.7		67.7
Water quality	18.0		17.8		37.5		36.7
Consolidated net sales	$	371.1	$	375.7	$	735.3	$	705.6