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Segment Information
 12 Months Ended
Dec. 31, 2012
Segment Information

NOTE  21

Segment Information

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. Our four reportable segments are referred to as: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies.

Industrial Process manufactures engineered fluid process equipment serving a diversified mix of customers in global infrastructure industries such as oil & gas, mining, power generation, chemical and other process markets and is an aftermarket service provider.

Motion Technologies manufactures friction materials, shock absorbers and damping technologies for the global automotive, truck, trailer and public bus and rail transportation markets.

Interconnect Solutions manufactures a wide range of highly specialized connector products that make it possible to transfer signal and power in various electronic devices that are utilized in aerospace, industrial, defense and oil & gas markets.

Control Technologies manufactures specialized equipment, including actuators, valves, switches, vibration isolation devices, custom-energy absorption equipment, and regulators for the aerospace, defense and industrial markets.

Corporate and Other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, such as asbestos and environmental liabilities, that are managed at a corporate level and are not included in segment results when evaluating performance or allocating resources. Assets of the segments exclude general corporate assets, which principally consist of cash, investments, asbestos-related receivables and certain property, plant and equipment.

 

    Revenue     Operating Income (Loss)     Operating Margin  
     2012     2011     2010     2012     2011     2010     2012     2011     2010  

Industrial Process

   $ 955.8      $ 766.7      $ 693.7      $ 99.3      $ 91.5      $ 79.1        10.4 %      11.9 %      11.4 % 

Motion Technologies

     626.2        634.4        547.7        83.1        85.3        84.6        13.3 %      13.4 %      15.4 % 

Interconnect Solutions

     375.7        417.8        412.9        6.9        37.8        37.3        1.8 %      9.0 %      9.0 % 

Control Technologies

     277.1        285.5        259.4        58.3        55.2        31.7        21.0 %      19.3 %      12.2 % 

Total segment results

     2,234.8        2,104.4        1,913.7        247.6        269.8        232.7        11.1 %      12.8 %      12.2 % 

Asbestos-related costs, net

     –        –        –        (50.9 )      (100.4 )      (384.8 )      –        –        –   

Transformation costs

     –        –        –        (8.7 )      (391.2 )      –        –        –        –   

Eliminations / Other corporate costs

     (7.0 )      (18. 8 )      (23.0 )      (36.5 )      (23.1 )      (28.5 )      –        –        –   

Total Eliminations / Corporate and Other costs

     (7.0 )      (18.8 )      (23.0 )      (96.1 )      (514.7 )      (413.3 )      –        –        –   

Total

   $ 2,227.8      $ 2,085.6      $ 1,890.7      $ 151.5      $ (244.9 )    $ (180.6 )      6.8 %      (11.7 )%      (9.6 )% 

 

     Total Assets      Capital
Expenditures		      Depreciation
and Amortization		  
      2012      2011      2012      2011      2010      2012      2011      2010  

Industrial Process

    $ 1,044.8       $ 633.8       $ 35.0       $ 25.3       $ 18.9       $ 17.3       $ 13.0       $ 10.8   

Motion Technologies

      461.6         430.7         27.1         33.3         28.0         27.8         27.3         25.5   

Interconnect Solutions

      362.6         342.7         11.2         16.6         16.3         10.0         9.7         8.9   

Control Technologies

      361.9         375.1         6.1         5.3         3.4         9.3         10.3         10.7   

Corporate and Other

      1,155.2         1,840.1         4.4         21.8         59.7         6.7         11.0         8.3   

Discontinued operations

      –         49.1         –         –         –         –         –         –   

Total

    $ 3,386.1       $ 3,671.5       $ 83.8       $ 102.3       $ 126.3       $ 71.1       $ 71.3       $ 64.2   

 

     Revenue(a)      Total Assets(b)      Plant, Property &
Equipment, Net		  
Geographic Information    2012      2011      2010      2012      2011      2012      2011  

United States

    $ 869.3       $ 779.6       $ 736.1       $ 1,791.2       $ 2,288.6       $ 127.3       $ 120.6   

Other developed markets(a)(b)

      719.8         717.6         657.8         1,146.2         935.0         150.1         120.8   

Emerging growth markets

      638.7         588.4         496.8         448.7         408.8         95.7         80.0   

Discontinued operations

      –         –         –         –         39.1         –         –   

Total

    $ 2,227.8       $ 2,085.6       $ 1,890.7       $ 3,386.1       $ 3,671.5       $ 373.1       $ 321.4   

 

(a) Revenue to external customers is attributed to individual regions based upon the destination of product or service delivery. Germany represented 9.0%, 11.0% and 10.8% of total revenues for the years ended December 31, 2012, 2011 and 2010, respectively.

 

(b) Luxembourg represented 10.0% and 12.6% of total assets, excluding assets of discontinued operations, at December 31, 2012 and 2011, respectively.

The following table provides revenue by product category, net of intercompany balances.

 

      2012      2011      2010  

Pumps and complementary products

    $ 879.0       $ 692.3       $ 634.6   

Pump support and maintenance services

      76.8         66.7         50.5   

Friction products

      517.6         524.1         446.4   

Shock absorber equipment

      107.0         110.3         101.2   

Connectors equipment

      375.4         412.7         405.2   

CT Aerospace products

      185.4         192.2         163.5   

CT Industrial products

      86.6         87.3         89.3   

Total

    $ 2,227.8       $ 2,085.6       $ 1,890.7   

During 2012, a single customer accounted for 13.4% of consolidated ITT revenue. No individual customer accounted for more than 10% of consolidated ITT revenue during either 2011 or 2010.