Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

Note 20: Segment Information

The Company has determined its reportable segments in accordance with FASB ASC 280, Segment Reporting. The Company evaluates the performance of its reportable segments based on operating income, which is defined as income before interest expense, other income, net, and income taxes. Reportable segment operating income and segment operating margin (defined as segment operating income divided by segment revenues) are indicative of short-term operational performance and ongoing profitability. Management closely monitors the operating income and operating margin of each business segment to evaluate past performance and identify actions required to improve profitability. Certain assets attributable to corporate activity are not allocated to the segments. General corporate assets (unallocated assets) consist of cash and equivalents and deferred tax assets. Inter-segment sales and transfers are not significant. The accounting policies of the segments are the same as those described in Note 1 "Summary of Significant Accounting Policies."

In the Industrial Products Group, the Company designs, manufactures, markets and services the following products and related aftermarket parts for industrial and commercial applications: rotary screw, reciprocating, and sliding vane air and gas compressors; positive displacement, centrifugal and side channel blowers; and vacuum pumps primarily serving manufacturing, transportation and general industry and selected OEM and engineered system applications. The Company also markets and services complementary ancillary products. Stationary air compressors are used in manufacturing, process applications and materials handling, and to power air tools and equipment. Blowers are used primarily in pneumatic conveying, wastewater aeration, numerous applications in industrial manufacturing and engineered vacuum systems. The markets served by the Industrial Products Group are primarily located in Europe, the U.S. and Asia.

In the Engineered Products Group, the Company designs, manufactures, markets and services a diverse group of pumps, compressors, liquid ring vacuum pumps, water jetting and loading arm systems and related aftermarket parts. These products are used in well drilling, well servicing and production of oil and natural gas; industrial, commercial and transportation applications; and in industrial cleaning and maintenance. Liquid ring pumps are used in many different applications such as water removal, distilling, reacting, flare gas recovery, efficiency improvement, lifting and handling, and filtering, principally in the pulp and paper, industrial manufacturing, petrochemical and power industries. This segment also designs, manufactures, markets and services other engineered products and components and equipment for the chemical, petroleum and food industries. The markets served by the Engineered Products Group are primarily located in the U.S., Europe, Canada and Asia.

The following tables provide summarized information about the Company's operations by reportable segment.

	Revenues						Operating Income (Loss)									Identifiable Assets at December, 31
	2011		2010		2009		2011			2010			2009			2011		2010		2009
Industrial Products Group	$	1,256,010		1,099,812		1,022,860	$	140,457			93,107			(239,408	)	$	1,350,980		1,082,299		1,084,471
Engineered Products Group		1,114,893		795,292		755,285		260,254			159,303			125,738			852,169		761,259		728,800
Total	$	2,370,903		1,895,104		1,778,145		400,711			252,410			(113,670	)		2,203,149		1,843,558		1,813,271
Interest expense								15,397			23,424			28,485
Other income, net								(1,667	)		(2,865	)		(3,761	)
Income (loss) before income taxes							$	386,981			231,851			(138,394	)
General corporate (unallocated)																	162,419		183,540		125,777
Total assets																$	2,365,568		2,027,098		1,939,048

	LIFO Liquidation Income (before tax)						Depreciation and Amortization Expense						Capital Expenditures
	2011		2010		2009		2011		2010		2009		2011		2010		2009
Industrial Products Group	$	—		87		274	$	40,190		40,778		46,227	$	23,334		18,459		30,191
Engineered Products Group		204		667		23		20,094		19,470		22,504		32,354		14,580		12,575
Total	$	204		754		297	$	60,284		60,248		68,731	$	55,688		33,039		42,766

The following table presents revenues and property, plant and equipment by geographic region. Revenues have been attributed based on the products' shipping destination.

	Revenues						Property, Plant and Equipment at December 31,
	2011		2010		2009		2011		2010		2009
United States	$	918,738		654,461		574,249	$	110,780		99,214		99,873
Canada		69,782		71,122		45,056		514		620		747
Other		26,500		22,964		13,734		139		—		—
Total North America		1,015,020		748,547		633,039		111,433		99,834		100,620
Germany		229,815		194,636		197,020		61,527		71,159		83,004
United Kingdom		109,771		106,782		109,523		40,249		45,764		48,871
France		81,262		68,361		75,152		6,519		7,006		7,288
Other		319,450		290,378		305,991		37,261		22,399		25,712
Total Europe		740,298		660,157		687,686		145,556		146,328		164,875
China		194,060		158,150		130,290		20,138		23,407		22,846
Other		211,798		153,031		157,093		477		613		519
Total Asia		405,858		311,181		287,383		20,615		24,020		23,365
Brazil		50,040		33,401		39,405		8,147		9,931		10,335
Other		19,902		17,068		22,396		—		—		—
Total South America		69,942		50,469		61,801		8,147		9,931		10,335
Africa and Australia		139,785		124,750		108,236		5,161		6,450		7,040
Total	$	2,370,903		1,895,104		1,778,145	$	290,912		286,563		306,235