Information on Business Segments

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Information on Business Segments

Information on Business Segments

The Company is organized based upon the nature of its products and services. Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The Company has not aggregated operating segments for purposes of identifying reportable segments.

The Industrial segment is a global manufacturer of highly-engineered, high-quality precision parts, products and systems for critical applications serving a diverse customer base in end-markets such as transportation, industrial equipment, consumer products, packaging, electronics, medical devices, and energy. Focused on innovative custom solutions, Industrial participates in the design phase of components and assemblies whereby the customers receive the benefits of application and systems engineering, new product development, testing and evaluation, and the manufacturing of final products. Industrial designs and manufactures customized hot runner systems and precision mold assemblies - the enabling technologies for many complex injection molding applications. It is a leading manufacturer and supplier of precision mechanical products, including precision mechanical springs and nitrogen gas products. Industrial also manufactures high-precision punched and fine-blanked components used in transportation and industrial applications, nitrogen gas springs and manifold systems used to precisely control stamping presses, and retention rings that position parts on a shaft or other axis. Industrial is equipped to produce virtually every type of precision spring, from fine hairsprings for electronics and instruments to large heavy-duty springs for machinery.

The Aerospace segmentproduces precision-machined and fabricated components and assemblies for original equipment manufacturer ("OEM") turbine engine, airframe and industrial gas turbine builders throughout the world, and the military. Aerospace Aftermarket also provides jet engine component overhaul and repair ("MRO") services, including the CRP's, for many of the world's major turbine engine manufacturers, commercial airlines and the military. Aerospace Aftermarket activities also include the manufacture and delivery of spare parts, including the RSPs under which the Company receives an exclusive right to supply designated aftermarket parts over the life of the related aircraft engine program, and component repairs.

The following tables set forth information about the Company's operations by its two reportable segments:

	Three months ended June 30,					Six months ended June 30,
	2014			2013		2014			2013
Net sales
Industrial	$	212,768		$	170,560	416,656			336,062
Aerospace	109,310			96,834		217,521			194,878
Intersegment sales	(4		)	—		(4		)	—
Total net sales	$	322,074		$	267,394	$	634,173		$	530,940
Operating profit
Industrial	$	28,765		$	20,923	48,140			35,532
Aerospace	16,616			15,226		32,366			25,573
Total operating profit	45,381			36,149		80,506			61,105
Interest expense	2,804			3,241		6,123			7,598
Other expense (income), net	792			495		1,027			1,462
Income from continuing operations before income taxes	$	41,785		$	32,413	$	73,356		$	52,045

	June 30, 2014		December 31, 2013
Assets
Industrial	$	1,414,500	$	1,410,400
Aerospace	658,948		567,080
Other (A)	141,176		146,193
Total assets	$	2,214,624	$	2,123,673

(A) "Other" assets include corporate-controlled assets, the majority of which are cash and deferred tax assets.