XML 48 R12.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Segment Information | 9 Months Ended
--- | ---
Sep. 25, 2015
Segment Reporting [Abstract] |
Segment Information | Beginning with the first quarter of 2015 the Company revised the presentation of its financial reporting segments. Operations of the Process and the Oil and Natural Gas divisions, historically included in the Industrial segment, are now aggregated with the Lubrication division (formerly reported as a separate segment) in the newly-formed Process segment. This change aligns the types of products offered and markets served within the segments. Prior year segment information has been restated to conform to 2015 reporting. A summary of the Company’s three reportable segments (Industrial, Process and Contractor) follows. The Industrial segment includes our Industrial Products and Applied Fluid Technologies divisions. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids. Markets served include automotive and vehicle assembly and components production, wood and metal products, rail, marine, aerospace, farm, construction, bus, recreational vehicles, and various other industries. The Process segment includes our Process, Oil and Natural Gas, and Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, waste water, petroleum, food, lubricants and other fluids. Markets served include food and beverage, dairy, oil and natural gas, pharmaceutical, cosmetics, electronics, waste water, mining, fast oil change facilities, service garages, fleet service centers, automobile dealerships and industrial lubrication applications. The Contractor segment remains unchanged. The Contractor segment markets sprayers for architectural coatings for painting, corrosion control, texture, and line striping. Sales and operating earnings by segment were as follows (in thousands):
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| Sep 25, 2015 |  | Sep 26, 2014 |  | Sep 25, 2015 |  | Sep 26, 2014
Net Sales |  |  |  |  |  |  |
Industrial | $ | 152,164 |  |  | $ | 150,481 |  |  | $ | 448,932 |  |  | $ | 459,105 |
Process | 64,710 |  |  | 52,719 |  |  | 204,337 |  |  | 160,579 |
Contractor | 102,112 |  |  | 99,414 |  |  | 307,659 |  |  | 295,441 |
Total | $ | 318,986 |  |  | $ | 302,614 |  |  | $ | 960,928 |  |  | $ | 915,125 |
Operating Earnings |  |  |  |  |  |  |
Industrial | $ | 50,822 |  |  | $ | 49,167 |  |  | $ | 144,500 |  |  | $ | 149,164 |
Process | 10,437 |  |  | 12,161 |  |  | 34,923 |  |  | 38,376 |
Contractor | 24,135 |  |  | 23,358 |  |  | 70,550 |  |  | 69,897 |
Unallocated corporate (expense) | (8,467 | ) |  | (5,779 | ) |  | (23,924 | ) |  | (17,977 | )
Total | $ | 76,927 |  |  | $ | 78,907 |  |  | $ | 226,049 |  |  | $ | 239,460 |
Assets by segment were as follows (in thousands):
| Sep 25, 2015 |  | Dec 26, 2014
Industrial | $ | 557,592 |  |  | $ | 548,868 |
Process | 483,788 |  |  | 304,903 |
Contractor | 210,707 |  |  | 176,757 |
Unallocated corporate | 135,312 |  |  | 514,250 |
Total | $ | 1,387,399 |  |  | $ | 1,544,778 |
Unallocated corporate assets decreased due to the sale of the Liquid Finishing assets in the second quarter of 2015 (see Note 12). Geographic information follows (in thousands):
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| Sep 25, 2015 |  | Sep 26, 2014 |  | Sep 25, 2015 |  | Sep 26, 2014
Net sales (based on customer location) |  |  |  |  |  |  |
United States | $ | 166,602 |  |  | $ | 150,015 |  |  | $ | 496,851 |  |  | $ | 440,097 |
Other countries | 152,384 |  |  | 152,599 |  |  | 464,077 |  |  | 475,028 |
Total | $ | 318,986 |  |  | $ | 302,614 |  |  | $ | 960,928 |  |  | $ | 915,125 |
| Sep 25, 2015 |  | Dec 26, 2014
Long-lived assets |  |  |
United States | $ | 142,478 |  |  | $ | 131,131 |
Other countries | 29,747 |  |  | 30,099 |
Total | $ | 172,225 |  |  | $ | 161,230 |

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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&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=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration