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Operating segments
6 Months Ended
Apr. 30, 2022
Segment Reporting [Abstract]  
Operating segments
Operating segments
We conduct business across two primary operating segments:  Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS). The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure used by the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing performance is operating profit, which equals sales less cost of sales and certain operating expenses. Items below the operating profit line of the Condensed Consolidated Statements of Income (interest and investment income, interest expense and other income/expense) are excluded from the measure of segment profitability reviewed by our chief operating decision maker and are not presented by operating segment. The accounting policies of the segments are generally the same as those described in the Significant accounting policies Note.
Industrial Precision Solutions: This segment delivers proprietary dispensing and processing technology to diverse end markets. Product lines reduce material consumption, increase line efficiency and enhance product brand and appearance. Components are used for dispensing adhesives, coatings, paint, finishes, sealants and other materials. This segment primarily serves the industrial, consumer durables and non-durables markets.
Advanced Technology Solutions: This segment integrates our proprietary product technologies found in progressive stages of a customer’s production processes, such as surface treatment, precisely controlled dispensing of material and post-dispense test and inspection to ensure quality. Related single-use plastic molded syringes, cartridges, tips, fluid connection components, tubing, balloons and catheters are used to dispense or control fluids in production processes or within customers’ end products. This segment predominantly serves customers in the electronics, medical and related high-tech industrial markets.
The following table presents information about our segments:
Three Months EndedIndustrial
Precision
Solutions
Advanced
Technology
Solutions
CorporateTotal
April 30, 2022    
Net external sales$316,434 $318,969 $ $635,403 
Operating profit (loss)102,196 98,458 (16,681)183,973 
April 30, 2021
Net external sales$298,775 $290,763 $— $589,538 
Operating profit (loss)104,283 76,585 (14,477)166,391 
Six Months Ended
April 30, 2022
Net external sales$640,367 $604,202 $ $1,244,569 
Operating profit (loss)204,384 174,785 (39,336)339,833 
April 30, 2021
Net external sales$587,191 $528,913 $— $1,116,104 
Operating profit (loss)187,686 123,786 (36,056)275,416 
We had significant sales in the following geographic regions:
 Three Months EndedSix Months Ended
 April 30, 2022April 30, 2021April 30, 2022April 30, 2021
United States$218,508 $202,924 $409,885 $388,240 
Americas55,244 44,914 103,769 81,052 
Europe172,256 156,451 328,241 291,602 
Japan25,443 27,852 51,001 54,967 
Asia Pacific163,952 157,397 351,673 300,243 
Total net external sales$635,403 $589,538 $1,244,569 $1,116,104