XML 30 R20.htm IDEA: XBRL DOCUMENT v3.23.1
Operating segments
6 Months Ended
Apr. 30, 2023
Segment Reporting [Abstract]  
Operating segments
Operating segments
We conduct business in three primary operating segments: Industrial Precision Solutions, Medical and Fluid Solutions, and Advanced Technology Solutions. 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 the same as those described in the Significant accounting policies Note.
Industrial Precision Solutions: This segment focuses on delivering proprietary dispensing and processing technology, both standard and highly customized equipment, to diverse end markets. Product lines commonly reduce material consumption, increase line efficiency through precision dispense and measurement and control, 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.
Medical and Fluid Solutions: This segment includes the Company’s fluid management solutions for medical, high-tech industrial and other diverse end markets. Related plastic tubing, balloons, catheters, syringes, cartridges, tips and fluid connection components are used to dispense or control fluids within customers’ medical devices or products, as well as production processes.
Advanced Technology Solutions: This segment focuses on products serving electronics end markets. Advanced Technology Solutions products integrate our proprietary product technologies found in progressive stages of an electronics customer’s production processes, such as surface treatment, precisely controlled dispensing of material and test and inspection to ensure quality and reliability. Applications include, but are not limited to, semiconductors, printed circuit boards, electronic components and automotive electronics.
The following table presents information about our segments:
Three Months EndedIndustrial
Precision
Solutions
Medical and Fluid SolutionsAdvanced
Technology
Solutions
CorporateTotal
April 30, 2023    
Net external sales$335,807 $166,526 $147,832 $ $650,165 
Operating profit (loss)111,773 47,922 26,090 (13,278)172,507 
April 30, 2022
Net external sales$316,434 $172,212 $146,757 $— $635,403 
Operating profit (loss)102,196 58,314 40,144 (16,681)183,973 
Six Months Ended
April 30, 2023
Net external sales$647,353 $320,813 $292,476 $ $1,260,642 
Operating profit (loss)214,093 87,307 43,053 (27,727)316,726 
April 30, 2022
Net external sales$640,367 $330,996 $273,206 $— $1,244,569 
Operating profit (loss)204,383 107,407 67,378 (39,335)339,833 
We had significant sales in the following geographic regions:
 Three Months EndedSix Months Ended
 April 30, 2023April 30, 2022April 30, 2023April 30, 2022
Americas$278,731 $273,753 $543,610 $513,654 
Europe167,904 172,256 330,843 328,241 
Asia Pacific203,530 189,394 386,189 402,674 
Total net external sales$650,165 $635,403 $1,260,642 $1,244,569