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INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2012

INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS

Schedule of reportable segments and other operating segments, including the results of acquisitions from the respective dates of acquisition

	Three months ended						Six months ended
	June 30,			July 2,			June 30,			July 2,
	2012			2011			2012			2011
Revenues (1):
Flow Technology reportable segment	$	677.3		$	492.8		$	1,305.4		$	948.7
Thermal Equipment and Services reportable segment	350.2			431.9			670.7			757.2
Industrial Products and Services	232.8			212.1			449.4			415.8
Total revenues	$	1,260.3		$	1,136.8		$	2,425.5		$	2,121.7

Income:
Flow Technology reportable segment	$	69.8		$	56.6		$	116.2		$	113.0
Thermal Equipment and Services reportable segment	16.0			35.8			26.3			57.1
Industrial Products and Services	30.2			24.1			56.0			51.5
Total income for reportable and other operating segments	116.0			116.5			198.5			221.6

Corporate expense	(22.0		)	(24.2		)	(54.4		)	(56.2		)
Pension and postretirement expense	(9.1		)	(9.0		)	(18.2		)	(18.1		)
Stock-based compensation expense	(6.5		)	(6.5		)	(28.3		)	(25.7		)
Impairment of goodwill and other intangible assets	—			(24.7		)	—			(24.7		)
Special charges, net	(8.4		)	(4.2		)	(10.8		)	(6.6		)

Consolidated operating income	$	70.0		$	47.9		$	86.8		$	90.3

(1) Under the percentage of completion method, we recognized revenues of $359.4 and $397.3 in the three months ended June 30, 2012 and July 2, 2011, respectively. For the six months ended June 30, 2012 and July 2, 2011, revenues under the percentage of completion method were $734.7 and $698.9, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $348.6 and $355.9 as of June 30, 2012 and December 31, 2011, respectively, and are reported as a component of “Accounts receivable, net.” Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage of completion method were $279.1 and $279.0 as of June 30, 2012 and December 31, 2011, respectively. The June 30, 2012 balance includes $277.3 reported as a component of “Accrued expenses” and $1.8 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet. The December 31, 2011 balance includes $275.4 reported as a component of “Accrued expenses” and $3.6 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet.