XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.5.0.2

SEGMENT INFORMATION | 6 Months Ended
--- | ---
Jun. 30, 2016
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Corporation manages and evaluates its operations based on end markets to strengthen its ability to service customers and recognize certain organizational efficiencies. Based on this approach, the Corporation has three reportable segments: Commercial/Industrial, Defense, and Power. The Corporation’s measure of segment profit or loss is operating income. Interest expense and income taxes are not reported on an operating segment basis as they are not considered in the segments’ performance evaluation by the Corporation’s chief operating decision-maker, its Chief Executive Officer. Net sales and operating income by reportable segment were as follows:
| Three Months Ended |  | Six Months Ended
(In thousands) | June 30, |  | June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Net sales |  |  |  |  |  |  |
Commercial/Industrial | $ | 290,428 |  |  | $ | 305,074 |  |  | $ | 565,633 |  |  | $ | 604,972 |
Defense | 114,877 |  |  | 120,149 |  |  | 220,607 |  |  | 234,501 |
Power | 129,123 |  |  | 121,661 |  |  | 252,869 |  |  | 256,796 |
Less: Intersegment revenues | (1,662 | ) |  | (1,690 | ) |  | (2,836 | ) |  | (4,876 | )
Total consolidated | $ | 532,766 |  |  | $ | 545,194 |  |  | $ | 1,036,273 |  |  | $ | 1,091,393 |
Operating income (expense) |  |  |  |  |  |  |
Commercial/Industrial | $ | 38,957 |  |  | $ | 45,253 |  |  | $ | 69,009 |  |  | $ | 88,542 |
Defense | 18,609 |  |  | 24,391 |  |  | 35,454 |  |  | 42,418 |
Power | 16,114 |  |  | 1,454 |  |  | 30,742 |  |  | 20,966 |
Corporate and eliminations (1) | (5,591 | ) |  | (5,656 | ) |  | (9,853 | ) |  | (13,649 | )
Total consolidated | $ | 68,089 |  |  | $ | 65,442 |  |  | $ | 125,352 |  |  | $ | 138,277 |
(1) Corporate and eliminations includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, foreign currency transactional gains and losses, and certain other expenses. Operating income by reportable segment and the reconciliation to income from continuing operations before income taxes are as follows:
| Three Months Ended |  | Six Months Ended
(In thousands) | June 30, |  | June 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Total operating income | $ | 68,089 |  |  | $ | 65,442 |  |  | $ | 125,352 |  |  | $ | 138,277 |
Interest expense | 10,273 |  |  | 8,985 |  |  | 20,206 |  |  | 17,981 |
Other income (expense), net | 101 |  |  | (37 | ) |  | 335 |  |  | 444 |
Earnings from continuing operations before income taxes | $ | 57,917 |  |  | $ | 56,420 |  |  | $ | 105,481 |  |  | $ | 120,740 |
(In thousands) | June 30, 2016 |  | December 31, 2015
Identifiable assets |  |  |
Commercial/Industrial | $ | 1,469,641 |  |  | $ | 1,480,052 |
Defense | 805,307 |  |  | 800,613 |
Power | 535,348 |  |  | 629,612 |
Corporate and Other | 168,884 |  |  | 79,334 |
Total consolidated | $ | 2,979,180 |  |  | $ | 2,989,611 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration