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INFORMATION ON REPORTABLE SEGMENTS AND OTHER OPERATING SEGMENTS (Tables)

9 Months Ended

Sep. 29, 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						Nine months ended
	September 29,			October 1,			September 29,			October 1,
	2012			2011			2012			2011
Revenues (1):
Flow Technology reportable segment	$	648.6		$	527.9		$	1,954.0		$	1,476.6
Thermal Equipment and Services reportable segment	381.0			433.9			1,051.7			1,191.1
Industrial Products and Services	219.8			204.2			669.2			620.0
Total revenues	$	1,249.4		$	1,166.0		$	3,674.9		$	3,287.7

Income:
Flow Technology reportable segment	$	78.1		$	70.1		$	194.3		$	183.1
Thermal Equipment and Services reportable segment	30.0			40.8			56.3			97.9
Industrial Products and Services	26.1			27.1			82.1			78.6
Total income for reportable and other operating segments	134.2			138.0			332.7			359.6

Corporate expense	(24.9		)	(26.7		)	(79.3		)	(82.9		)
Pension and postretirement expense	(10.7		)	(8.6		)	(28.9		)	(26.7		)
Stock-based compensation expense	(5.6		)	(7.2		)	(33.9		)	(32.9		)
Impairment of goodwill and other intangible assets	—			—			—			(24.7		)
Special charges, net	(7.1		)	(7.2		)	(17.9		)	(13.8		)

Consolidated operating income	$	85.9		$	88.3		$	172.7		$	178.6

(1) Under the percentage of completion method, we recognized revenues of $394.9 and $375.9 in the three months ended September 29, 2012 and October 1, 2011, respectively. For the nine months ended September 29, 2012 and October 1, 2011, revenues under the percentage of completion method were $1,129.6 and $1,074.8, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $401.0 and $355.9 as of September 29, 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 $294.3 and $279.0 as of September 29, 2012 and December 31, 2011, respectively. The September 29, 2012 balance includes $293.5 reported as a component of “Accrued expenses” and $0.8 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.