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Operating segments | 3 Months Ended
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Jan. 31, 2025
Segment Reporting [Abstract] |
Operating segments | Operating segments We conduct business in three p rimary operating segments: IPS, MFS and ATS. The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker. The primary measure us ed 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. Effective November 1, 2024, the MCS division was transferred from the IPS segment to the ATS segment due to an organizational change and determination that the economic and business characteristics of MCS better aligned with the Company’s ATS segment. Our segment reporting reflects this change and prior year financial information was revised to be comparable. 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 dispensing, 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, agricultural, 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 and consumer non-durable end markets. Advanced Technology Solutions products integrate our proprietary product technologies found in progressive stages of an electronics customer’s production and measurement and control 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, automotive electronics, in-line measurement sensors, gauges and analyzers. The following table presents information about our segments:
Three Months Ended |  | Industrial Precision Solutions |  | Medical and Fluid Solutions |  | Advanced Technology Solutions |  | Corporate |  | Total
January 31, 2025 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 300,448 |  |  | $ | 193,609 |  |  | $ | 121,363 |  |  | $ | — |  |  | $ | 615,420 |
Operating profit (loss) |  | 95,712 |  |  | 40,936 |  |  | 18,123 |  |  | (13,824) |  |  | 140,947 |
January 31, 2024 |  |  |  |  |  |  |  |  |  |
Net external sales |  | $ | 337,742 |  |  | $ | 159,526 |  |  | $ | 135,925 |  |  | $ | — |  |  | $ | 633,193 |
Operating profit (loss) |  | 109,098 |  |  | 46,100 |  |  | 18,304 |  |  | (14,067) |  |  | 159,435 |
We had significant sales in the following geographic regions:
|  | Three Months Ended |  |
|  | January 31, 2025 |  | January 31, 2024 |  |  |  |
Americas |  | $ | 267,836 |  |  | $ | 274,012 |  |  |  |  |
Europe |  | 167,762 |  |  | 179,310 |  |  |  |  |
Asia Pacific |  | 179,822 |  |  | 179,871 |  |  |  |  |
Total net external sales |  | $ | 615,420 |  |  | $ | 633,193 |  |  |  |  |

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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