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Operating segments | 9 Months Ended
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Jul. 31, 2023
Segment Reporting [Abstract] |
Operating segments | Operating segments We conduct business in three p rimary 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 Ended |  | Industrial Precision Solutions |  | Medical and Fluid Solutions |  | Advanced Technology Solutions |  | Corporate |  | Total
July 31, 2023 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 338,257 |  |  | $ | 170,871 |  |  | $ | 139,549 |  |  | $ | — |  |  | $ | 648,677 |
Operating profit (loss) |  | 115,346 |  |  | 54,019 |  |  | 27,083 |  |  | (25,452) |  |  | 170,996 |
July 31, 2022 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 341,215 |  |  | $ | 177,840 |  |  | $ | 143,073 |  |  | $ | — |  |  | $ | 662,128 |
Operating profit (loss) |  | 119,706 |  |  | 58,103 |  |  | 28,155 |  |  | (21,046) |  |  | 184,918 |
Nine Months Ended |  |  |  |  |  |  |  |  |  |
July 31, 2023 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 985,610 |  |  | $ | 491,683 |  |  | $ | 432,026 |  |  | $ | — |  |  | $ | 1,909,319 |
Operating profit (loss) |  | 329,439 |  |  | 141,326 |  |  | 70,136 |  |  | (53,179) |  |  | 487,722 |
July 31, 2022 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 981,582 |  |  | $ | 508,836 |  |  | $ | 416,279 |  |  | $ | — |  |  | $ | 1,906,697 |
Operating profit (loss) |  | 324,089 |  |  | 165,510 |  |  | 95,533 |  |  | (60,381) |  |  | 524,751 |
We had significant sales in the following geographic regions:
|  | Three Months Ended |  | Nine Months Ended
|  | July 31, 2023 |  | July 31, 2022 |  | July 31, 2023 |  | July 31, 2022
Americas |  | $ | 290,515 |  |  | $ | 279,205 |  |  | $ | 834,125 |  |  | $ | 792,859 |
Europe |  | 167,536 |  |  | 151,659 |  |  | 498,379 |  |  | 479,900 |
Asia Pacific |  | 190,626 |  |  | 231,264 |  |  | 576,815 |  |  | 633,938 |
Total net external sales |  | $ | 648,677 |  |  | $ | 662,128 |  |  | $ | 1,909,319 |  |  | $ | 1,906,697 |

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- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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