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Segment Reporting | 9 Months Ended
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Apr. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract] |
Segment Reporting | Note 18. Segment Reporting During the first quarter of fiscal 2023, the Company announced a company-wide organizational redesign to further support the Company’s growth strategies and better serve its customers. Effective November 1, 2022, as a result of the organizational redesign, the Company established a new segment reporting structure which resulted in three reportable segments: Mobile Solutions, Industrial Solutions and Life Sciences. The organizational structure also includes Corporate and unallocated which includes interest expense and certain corporate expenses determined to be non-allocable to the segments, such as restructuring charges and incentive compensation. The Company determines its operating segments consistent with the manner in which it manages its operations and evaluates performance for internal review and decision-making. All prior segment information has been recast to reflect the Company’s new segment structure. The Mobile Solutions segment is organized based on a combination of customers and products and consists of the Off-Road, On-Road and Aftermarket business units. Within these business units, products consist of replacement filters for both air and liquid filtration applications as well as exhaust and emissions. Applications include air filtration systems, fuel and lube systems, exhaust and emissions systems, and sensors, indicators and monitoring systems. Mobile Solutions sells to original equipment manufacturers (OEMs) in the construction, mining, agriculture and transportation end markets and to independent distributors, OEM dealer networks, private label accounts and large fleets. The Industrial Solutions segment is organized based on product type and consists of the Industrial Filtration Solutions (IFS) and Aerospace and Defense business units. Within the IFS business unit, products consist of dust, fume and mist collectors, compressed air purification systems, air filtration systems for gas turbines, hydraulic applications as well as gas and liquid filtration for industrial processes. Aerospace and Defense products consist of air, fuel and lube filtration sold to the aerospace fixed-wing, rotorcraft and defense ground vehicle industries. The Life Sciences segment consists of micro-environment gas and liquid filtration for food, beverage and industrial processes, bioprocessing equipment, including bioreactors and fermenters, polytetrafluoroethylene membrane-based products, as well as specialized air and gas filtration systems for applications including hard disk drives, semiconductor manufacturing, sensors, indicators and monitoring systems. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations and sharing of assets. Therefore, the Company does not represent these segments, if operated independently, would report earnings before income taxes as stated below. Segment details were as follows (in millions):
| Three Months Ended April 30, |  | Nine Months Ended April 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net sales |  |  |  |  |  |  |
Mobile Solutions | $ | 555.0 |  |  | $ | 555.6 |  |  | $ | 1,632.3 |  |  | $ | 1,556.4 |
Industrial Solutions | 261.5 |  |  | 229.8 |  |  | 737.6 |  |  | 649.1 |
Life Sciences | 59.2 |  |  | 67.8 |  |  | 181.4 |  |  | 211.1 |
Total Company | $ | 875.7 |  |  | $ | 853.2 |  |  | $ | 2,551.3 |  |  | $ | 2,416.6 |
Earnings (loss) before income taxes |  |  |  |  |  |  |
Mobile Solutions | $ | 83.4 |  |  | $ | 79.7 |  |  | $ | 242.3 |  |  | $ | 203.9 |
Industrial Solutions | 49.1 |  |  | 34.3 |  |  | 133.0 |  |  | 86.1 |
Life Sciences | 0.2 |  |  | 14.0 |  |  | 17.3 |  |  | 51.1 |
Corporate and unallocated | (11.2) |  |  | (16.7) |  |  | (41.2) |  |  | (31.3) |
Total Company | $ | 121.5 |  |  | $ | 111.3 |  |  | $ | 351.4 |  |  | $ | 309.8 |
Assets by segment were as follows (in millions):
| April 30, 2023 |  | July 31, 2022
Mobile Solutions | $ | 1,304.3 |  |  | $ | 1,319.4 |
Industrial Solutions | 810.9 |  |  | 816.0 |
Life Sciences | 346.9 |  |  | 267.8 |
Corporate and unallocated | 213.4 |  |  | 197.1 |
Total assets | $ | 2,675.5 |  |  | $ | 2,600.3 |
Net sales by business unit were as follows (in millions):
| Three Months Ended April 30, |  | Nine Months Ended April 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Mobile Solutions segment |  |  |  |  |  |  |
Off-Road | $ | 115.6 |  |  | $ | 104.4 |  |  | $ | 325.3 |  |  | $ | 286.7 |
On-Road | 38.0 |  |  | 36.1 |  |  | 108.5 |  |  | 100.7 |
Aftermarket | 401.4 |  |  | 415.1 |  |  | 1,198.5 |  |  | 1,169.0 |
Total Mobile Solutions segment | 555.0 |  |  | 555.6 |  |  | 1,632.3 |  |  | 1,556.4 |
Industrial Solutions segment |  |  |  |  |  |  |
Industrial Filtration Solutions | 223.3 |  |  | 198.5 |  |  | 631.1 |  |  | 563.2 |
Aerospace and Defense | 38.2 |  |  | 31.3 |  |  | 106.5 |  |  | 85.9 |
Total Industrial Solutions segment | 261.5 |  |  | 229.8 |  |  | 737.6 |  |  | 649.1 |
Life Sciences segment |  |  |  |  |  |  |
Total Life Sciences segment | 59.2 |  |  | 67.8 |  |  | 181.4 |  |  | 211.1 |
Total Company | $ | 875.7 |  |  | $ | 853.2 |  |  | $ | 2,551.3 |  |  | $ | 2,416.6 |
Concentrations There were no customers that accounted for over 10% of net sales for the three and nine months ended April 30, 2023 or 2022. There were no customers that accounted for over 10% of gross accounts receivable as of April 30, 2023 or July 31, 2022.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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