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Segment Information | 12 Months Ended
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Dec. 31, 2012
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has five reporting segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling and Controls. In accordance with ASC Topic 280, “Segment Reporting”, for purposes of segment performance measurement, the Company does not allocate to the business segments items that are of a non-operating nature, including charges which occur from time to time related to the Company’s asbestos liability and its legacy environmental liabilities, as such items are not related to current business activities; or corporate organizational and functional expenses of a governance nature. “Corporate expenses-before asbestos and environmental charges” consist of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs. Assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties at current market prices. Financial information by reportable segment is set forth below:
(in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
Aerospace & Electronics |  |  |  |  |  |
Net sales |  | $ | 701,208 |  |  | $ | 677,663 |  |  | $ | 577,164 |
Operating profit(a) |  | 156,015 |  |  | 145,624 |  |  | 109,228 |
Assets |  | 509,672 |  |  | 514,240 |  |  | 498,775 |
Goodwill |  | 203,595 |  |  | 203,516 |  |  | 202,481 |
Capital expenditures |  | 6,851 |  |  | 15,049 |  |  | 7,756 |
Depreciation and amortization |  | 14,713 |  |  | 15,635 |  |  | 15,804 |
Engineered Materials |  |  |  |  |  |
Net sales |  | $ | 216,503 |  |  | $ | 220,071 |  |  | $ | 212,280 |
Operating profit(b) |  | 24,522 |  |  | 29,754 |  |  | 30,143 |
Assets |  | 237,478 |  |  | 245,350 |  |  | 255,340 |
Goodwill |  | 171,533 |  |  | 171,489 |  |  | 171,491 |
Capital expenditures |  | 2,163 |  |  | 1,840 |  |  | 1,052 |
Depreciation and amortization |  | 7,191 |  |  | 7,959 |  |  | 8,090 |
Merchandising Systems |  |  |  |  |  |
Net sales |  | $ | 371,901 |  |  | $ | 373,907 |  |  | $ | 298,040 |
Operating profit(c) |  | 33,771 |  |  | 30,337 |  |  | 16,729 |
Assets |  | 408,702 |  |  | 408,857 |  |  | 419,704 |
Goodwill |  | 201,866 |  |  | 197,719 |  |  | 197,453 |
Capital expenditures |  | 4,263 |  |  | 4,652 |  |  | 3,490 |
Depreciation and amortization |  | 14,226 |  |  | 15,283 |  |  | 11,811 |
Fluid Handling |  |  |  |  |  |
Net sales |  | $ | 1,195,501 |  |  | $ | 1,140,315 |  |  | $ | 1,007,745 |
Operating profit(d) |  | 148,167 |  |  | 149,803 |  |  | 121,494 |
Assets |  | 954,633 |  |  | 909,265 |  |  | 829,523 |
Goodwill |  | 221,745 |  |  | 220,111 |  |  | 210,695 |
Capital expenditures |  | 14,871 |  |  | 12,097 |  |  | 7,622 |
Depreciation and amortization |  | 17,948 |  |  | 19,003 |  |  | 18,534 |
Controls |  |  |  |  |  |
Net sales |  | $ | 93,955 |  |  | $ | 88,413 |  |  | $ | 84,201 |
Operating profit(e) |  | 12,813 |  |  | 11,228 |  |  | 5,077 |
Assets |  | 38,642 |  |  | 64,162 |  |  | 66,744 |
Goodwill |  | 15,053 |  |  | 27,990 |  |  | 28,165 |
Capital expenditures |  | 514 |  |  | 664 |  |  | 523 |
Depreciation and amortization |  | 1,463 |  |  | 3,270 |  |  | 3,726 |
(a) | Includes restructuring charges of $269 in 2010.
(b) | Includes restructuring charges of $2,338 in 2012 and $238 in 2010.
(c) | Includes $1,276 of transaction costs associated with the acquisition of Money Controls in 2010 and restructuring charges of $3,355 in 2012 and $3,224 in 2010.
(d) | Includes restructuring charges of $12,745 in 2012 and $2,964 in 2010.
(e) | Includes restructuring gains of $19 in 2010.
Information by reportable segment (continued):
(in thousands) |  | 2012 |  |  | 2011 |  |  | 2010 |
TOTAL NET SALES |  | $ | 2,579,068 |  |  | $ | 2,500,369 |  |  | $ | 2,179,319 |
Operating profit (loss) from Continuing Operations |  |  |  |  |  |
Reporting segments |  | $ | 375,288 |  |  | $ | 366,746 |  |  | $ | 282,671 |
Corporate — before asbestos and environmental charges (a) (b) |  | (64,847 | ) |  | (58,201 | ) |  | (49,371 | )
Corporate expense — asbestos charge |  | — |  |  | 241,647 |  |  | — |
Corporate expense — environmental charges |  | — |  |  | 30,327 |  |  | — |
TOTAL OPERATING PROFIT FROM CONTINUING OPERATIONS |  | $ | 310,441 |  |  | $ | 36,571 |  |  | $ | 233,300 |
Interest income |  | 1,879 |  |  | 1,635 |  |  | 1,184 |
Interest expense |  | (26,831 | ) |  | (26,255 | ) |  | (26,841 | )
Miscellaneous — net |  | (884 | ) |  | 2,810 |  |  | 1,424 |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES |  | $ | 284,605 |  |  | $ | 14,761 |  |  | $ | 209,067 |
Assets |  |  |  |  |  |
Reporting segments |  | $ | 2,149,127 |  |  | $ | 2,141,874 |  |  | $ | 2,070,086 |
Corporate |  | 740,751 |  |  | 701,657 |  |  | 636,611 |
TOTAL ASSETS |  | $ | 2,889,878 |  |  | $ | 2,843,531 |  |  | $ | 2,706,697 |
Goodwill |  |  |  |  |  |
Reporting segments |  | $ | 813,792 |  |  | $ | 820,824 |  |  | $ | 810,285 |
Capital expenditures |  |  |  |  |  |
Reporting segments |  | $ | 28,662 |  |  | $ | 34,302 |  |  | $ | 20,443 |
Corporate |  | 646 |  |  | 435 |  |  | 590 |
TOTAL CAPITAL EXPENDITURES |  | $ | 29,308 |  |  | $ | 34,737 |  |  | $ | 21,033 |
Depreciation and amortization |  |  |  |  |  |
Reporting segments |  | $ | 55,541 |  |  | $ | 61,151 |  |  | $ | 57,965 |
Corporate |  | 1,722 |  |  | 1,792 |  |  | 1,876 |
TOTAL DEPRECIATION AND AMORTIZATION |  | $ | 57,263 |  |  | $ | 62,943 |  |  | $ | 59,841 |
(a) Includes $3,874 of non-deductible acquisition costs associated with the pending acquisition of MEI. (b) Includes restructuring charges of $25 in 2012 Information by geographic region:
(in thousands) December 31, |  | 2012 |  |  | 2011 |  |  | 2010 |
Net sales* |  |  |  |  |  |
United States |  | $ | 1,522,135 |  |  | $ | 1,419,662 |  |  | $ | 1,281,287 |
Canada |  | 299,955 |  |  | 271,825 |  |  | 248,380 |
Europe |  | 612,163 |  |  | 656,816 |  |  | 531,037 |
Other international |  | 144,815 |  |  | 152,066 |  |  | 118,615 |
TOTAL NET SALES |  | $ | 2,579,068 |  |  | $ | 2,500,369 |  |  | $ | 2,179,319 |
Assets* |  |  |  |  |  |
United States |  | $ | 1,165,233 |  |  | $ | 1,203,644 |  |  | $ | 1,110,668 |
Canada |  | 219,770 |  |  | 211,663 |  |  | 259,957 |
Europe |  | 634,711 |  |  | 615,200 |  |  | 435,406 |
Other international |  | 129,413 |  |  | 111,367 |  |  | 264,055 |
Corporate |  | 740,751 |  |  | 701,657 |  |  | 636,611 |
TOTAL ASSETS |  | $ | 2,889,878 |  |  | $ | 2,843,531 |  |  | $ | 2,706,697 |
* Net sales and assets by geographic region are based on the location of the business unit.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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