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Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Segment Reporting Information, by Segment

The following table (in millions) sets forth summarized financial information by reportable business segment:


	Industrial		Aerospace		Other		Total Company
Sales
2020	$	770.1	$	354.3	$	—	$	1,124.4
2019	938.5		552.6		—		1,491.1
2018	994.7		501.2		—		1,495.9
Operating profit
2020	$	66.6	$	56.8	$	—	$	123.4
2019	114.0		122.5		—		236.4
2018	130.4		101.4		—		231.8
Assets
2020	$	1,908.4	$	623.5	$	144.3	$	2,676.2
2019	1,879.3		704.3		154.8		2,738.3
2018	1,962.4		692.6		154.0		2,809.0
Depreciation and amortization
2020	$	57.7	$	29.0	$	0.9	$	87.7
2019	62.4		35.9		0.8		99.1
2018	57.6		35.9		0.8		94.2
Capital expenditures
2020	$	19.4	$	20.8	$	0.5	$	40.7
2019	25.3		26.0		2.0		53.3
2018	33.4		23.6		0.3		57.3

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Notes:

One customer, General Electric, accounted for 17%, 21% and 18% of the Company’s total revenues in 2020, 2019 and 2018, respectively.

“Other” assets include corporate-controlled assets, the majority of which are cash and cash equivalents and deferred tax assets.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

A reconciliation of the total reportable segments’ operating profit to income before income taxes follows (in millions):


	2020		2019		2018
Operating profit	$	123.4	$	236.4	$	231.8
Interest expense	15.9		20.6		16.8
Other expense (income), net	5.9		9.0		7.4
Income before income taxes	$	101.5	$	206.8	$	207.5

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table (in millions) summarizes total net sales and long-lived assets of the Company by geographic area:


	Domestic		International		Other		Total Company
Sales
2020	$	483.8	$	714.0	$	(73.4)	$	1,124.4
2019	630.0		949.4		(88.4)		1,491.1
2018	624.3		958.7		(87.1)		1,495.9
Long-lived assets
2020	$	383.2	$	1,628.6	$	—	$	2,011.8
2019	372.2		1,580.5		—		1,952.7
2018	366.1		1,616.2		—		1,982.4

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Notes: Germany, with sales of $223.3 million, $302.0 million and $331.4 million in 2020, 2019 and 2018, respectively, and Singapore, with sales of $129.8 million, $225.7 million and $193.6 million in 2020, 2019 and 2018, respectively, represent the only international countries with revenues in excess of 10% of the Company's total revenues in those years. “Other” revenues represent the elimination of inter-company sales between geographic locations, of which approximately 67%, 68% and 72% were sales from international locations to domestic locations in 2020, 2019 and 2018, respectively.

Germany, with long-lived assets of $481.5 million, $480.3 million and $494.0 million as of December 31, 2020, 2019 and 2018, respectively, Singapore, with long-lived assets of $214.8 million, $226.5 million and $233.3 million as of December 31, 2020, 2019 and 2018, respectively and Italy, with long-lived assets of $443.1 million, $402.1 million and $412.0 million as of December 31, 2020, 2019 and 2018, respectively, represent the international countries with long-lived assets that exceeded 10% of the Company's total long-lived assets in those years.