Business Segments

3 Months Ended

Mar. 31, 2013

Business Segments

4.    Business Segments

The Company has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the water and wastewater industries. The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

Information on the Company’s business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties.

	Three Months Ended March 31,
	2013			2012
	(In thousands)
Net sales:
Fluid & Metering Technologies:
External customers	$	211,407		$	212,466
Intersegment sales		348			252
Total group sales		211,755			212,718
Health & Science Technologies:
External customers		171,674			173,221
Intersegment sales		1,194			565
Total group sales		172,868			173,786
Fire & Safety/Diversified Products:
External customers		111,367			103,730
Intersegment sales		146			320
Total group sales		111,513			104,050
Intersegment elimination		(1,688	)		(1,137	)
Total net sales	$	494,448		$	489,417
Operating income and income before income taxes:
Fluid & Metering Technologies	$	48,079		$	44,526
Health & Science Technologies		32,267			30,270
Fire & Safety/Diversified Products		28,232			23,688
Corporate office and other		(13,866	)		(13,915	)
Total operating income		94,712			84,569
Interest expense		10,557			10,662
Other income-net		1,279			117
Income before income taxes	$	85,434		$	74,024

	March 31, 2013		December 31, 2012
	(In thousands)
Assets:
Fluid & Metering Technologies	$	1,033,752	$	1,023,143
Health & Science Technologies		1,123,755		1,102,868
Fire & Safety/Diversified Products		494,258		488,886
Corporate office and other(1)		170,835		170,493
Total assets	$	2,822,600	$	2,785,390

(1) Includes intersegment eliminations.