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September 30, 2015 | December 31, 2014 | ||||||
Finished goods | $ | 78,712 | $ | 83,905 | |||
Work-in-process | 80,099 | 79,563 | |||||
Raw material and supplies | 54,510 | 48,576 | |||||
$ | 213,321 | $ | 212,044 |
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Industrial | Aerospace | Total Company | |||||||||
January 1, 2015 | $ | 564,163 | $ | 30,786 | $ | 594,949 | |||||
Goodwill acquired | 20,249 | — | 20,249 | ||||||||
Foreign currency translation | (20,067 | ) | — | (20,067 | ) | ||||||
September 30, 2015 | $ | 564,345 | $ | 30,786 | $ | 595,131 |
September 30, 2015 | December 31, 2014 | ||||||||||||||||
Range of Life -Years | Gross Amount | Accumulated Amortization | Gross Amount | Accumulated Amortization | |||||||||||||
Amortized intangible assets: | |||||||||||||||||
Revenue sharing programs (RSPs) | Up to 30 | $ | 293,700 | $ | (82,137 | ) | $ | 293,700 | $ | (72,958 | ) | ||||||
Component repair programs (CRPs) | Up to 30 | 106,639 | (4,996 | ) | 106,639 | (1,941 | ) | ||||||||||
Customer lists/relationships | 10-16 | 193,266 | (38,978 | ) | 183,406 | (30,731 | ) | ||||||||||
Patents and technology | 6-14 | 66,152 | (27,619 | ) | 62,972 | (22,356 | ) | ||||||||||
Trademarks/trade names | 10-30 | 11,950 | (9,215 | ) | 11,950 | (8,552 | ) | ||||||||||
Other | Up to 15 | 16,552 | (15,101 | ) | 19,292 | (14,806 | ) | ||||||||||
688,259 | (178,046 | ) | 677,959 | (151,344 | ) | ||||||||||||
Unamortized intangible asset: | |||||||||||||||||
Trade names | 38,370 | — | 36,900 | — | |||||||||||||
Foreign currency translation | (20,532 | ) | — | (8,821 | ) | — | |||||||||||
Other intangible assets | $ | 706,097 | $ | (178,046 | ) | $ | 706,038 | $ | (151,344 | ) |
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September 30, 2015 | December 31, 2014 | |||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||
Revolving credit agreement | $ | 361,312 | $ | 357,962 | $ | 393,518 | $ | 394,917 | ||||||||
3.97% Senior Notes | 100,000 | 105,551 | 100,000 | 102,859 | ||||||||||||
Borrowings under lines of credit and overdrafts | 10,509 | 10,509 | 8,028 | 8,028 | ||||||||||||
Other foreign bank borrowings | 449 | 447 | — | — | ||||||||||||
Capital leases | 7,724 | 8,256 | 3,188 | 3,479 | ||||||||||||
479,994 | 482,725 | 504,734 | 509,283 | |||||||||||||
Less current maturities | (12,032 | ) | (8,890 | ) | ||||||||||||
Long-term debt | $ | 467,962 | $ | 495,844 |
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September 30, 2015 | December 31, 2014 | ||||||||||||||
Asset Derivatives | Liability Derivatives | Asset Derivatives | Liability Derivatives | ||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||
Interest rate contracts | $ | — | $ | (805 | ) | $ | — | $ | (295 | ) | |||||
Foreign exchange contracts | — | (79 | ) | — | (652 | ) | |||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||
Foreign exchange contracts | 148 | (410 | ) | 460 | (699 | ) | |||||||||
Total derivatives | $ | 148 | $ | (1,294 | ) | $ | 460 | $ | (1,646 | ) |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Cash flow hedges: | |||||||||||||||
Interest rate contracts | $ | (151 | ) | $ | 312 | $ | (320 | ) | $ | 169 | |||||
Foreign exchange contracts | (23 | ) | 252 | 447 | (136 | ) | |||||||||
$ | (174 | ) | $ | 564 | $ | 127 | $ | 33 |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Foreign exchange contracts | $ | (2,431 | ) | $ | 141 | $ | 4,514 | $ | (847 | ) |
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Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities |
Level 2 | Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability |
Level 3 | Unobservable inputs for the asset or liability |
Fair Value Measurements Using | ||||||||||||||||
Description | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
September 30, 2015 | ||||||||||||||||
Asset derivatives | $ | 148 | $ | — | $ | 148 | $ | — | ||||||||
Liability derivatives | (1,294 | ) | — | (1,294 | ) | — | ||||||||||
Bank acceptances | 14,732 | — | 14,732 | — | ||||||||||||
Rabbi trust assets | 2,065 | 2,065 | — | — | ||||||||||||
$ | 15,651 | $ | 2,065 | $ | 13,586 | $ | — | |||||||||
December 31, 2014 | ||||||||||||||||
Asset derivatives | $ | 460 | $ | — | $ | 460 | $ | — | ||||||||
Liability derivatives | (1,646 | ) | — | (1,646 | ) | — | ||||||||||
Bank acceptances | 10,785 | — | 10,785 | — | ||||||||||||
Rabbi trust assets | 2,092 | 2,092 | — | — | ||||||||||||
$ | 11,691 | $ | 2,092 | $ | 9,599 | $ | — |
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Gains and Losses on Cash Flow Hedges | Pension and Other Postretirement Benefit Items | Foreign Currency Items | Total | ||||||||||||
January 1, 2015 | $ | (732 | ) | $ | (115,289 | ) | $ | 16,568 | $ | (99,453 | ) | ||||
Other comprehensive (loss) income before reclassifications to consolidated statements of income | (665 | ) | 1,412 | (38,847 | ) | (38,100 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) to the consolidated statements of income | 792 | 7,631 | — | 8,423 | |||||||||||
Net current-period other comprehensive income (loss) | 127 | 9,043 | (38,847 | ) | (29,677 | ) | |||||||||
September 30, 2015 | $ | (605 | ) | $ | (106,246 | ) | $ | (22,279 | ) | $ | (129,130 | ) |
Gains and Losses on Cash Flow Hedges | Pension and Other Postretirement Benefit Items | Foreign Currency Items | Total | ||||||||||||
January 1, 2014 | $ | (519 | ) | $ | (73,273 | ) | $ | 99,736 | $ | 25,944 | |||||
Other comprehensive loss before reclassifications to consolidated statements of income | (585 | ) | (7,081 | ) | (51,837 | ) | (59,503 | ) | |||||||
Amounts reclassified from accumulated other comprehensive income (loss) to the consolidated statements of income | 618 | 5,563 | — | 6,181 | |||||||||||
Net current-period other comprehensive income (loss) | 33 | (1,518 | ) | (51,837 | ) | (53,322 | ) | ||||||||
September 30, 2014 | $ | (486 | ) | $ | (74,791 | ) | $ | 47,899 | $ | (27,378 | ) |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | ||||||||
Three months ended September 30, 2015 | Three months ended September 30, 2014 | |||||||||
Gains and losses on cash flow hedges | ||||||||||
Interest rate contracts | $ | (214 | ) | $ | (224 | ) | Interest expense | |||
Foreign exchange contracts | (137 | ) | (239 | ) | Net sales | |||||
(351 | ) | (463 | ) | Total before tax | ||||||
110 | 136 | Tax benefit | ||||||||
(241 | ) | (327 | ) | Net of tax | ||||||
Pension and other postretirement benefit items | ||||||||||
Amortization of prior-service credits, net | $ | 65 | $ | 66 | (A) | |||||
Amortization of actuarial losses | (3,983 | ) | (2,409 | ) | (A) | |||||
Settlement loss | — | (281 | ) | (A) | ||||||
(3,918 | ) | (2,624 | ) | Total before tax | ||||||
1,383 | 814 | Tax benefit | ||||||||
(2,535 | ) | (1,810 | ) | Net of tax | ||||||
Total reclassifications in the period | $ | (2,776 | ) | $ | (2,137 | ) |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | ||||||||
Nine months ended September 30, 2015 | Nine months ended September 30, 2014 | |||||||||
Gains and losses on cash flow hedges | ||||||||||
Interest rate contracts | $ | (642 | ) | $ | (663 | ) | Interest expense | |||
Foreign exchange contracts | (499 | ) | (259 | ) | Net sales | |||||
(1,141 | ) | (922 | ) | Total before tax | ||||||
349 | 304 | Tax benefit | ||||||||
(792 | ) | (618 | ) | Net of tax | ||||||
Pension and other postretirement benefit items | ||||||||||
Amortization of prior-service credits, net | $ | 192 | $ | 167 | (A) | |||||
Amortization of actuarial losses | (11,973 | ) | (7,125 | ) | (A) | |||||
Curtailment loss | — | (223 | ) | (A) | ||||||
Settlement loss | — | (863 | ) | (A) | ||||||
(11,781 | ) | (8,044 | ) | Total before tax | ||||||
4,150 | 2,481 | Tax benefit | ||||||||
(7,631 | ) | (5,563 | ) | Net of tax | ||||||
Total reclassifications in the period | $ | (8,423 | ) | $ | (6,181 | ) |
|
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Net sales | |||||||||||||||
Industrial | $ | 189,106 | $ | 207,230 | $ | 592,044 | $ | 623,886 | |||||||
Aerospace | 102,329 | 110,429 | 314,910 | 327,951 | |||||||||||
Intersegment sales | (1 | ) | — | (5 | ) | (5 | ) | ||||||||
Total net sales | $ | 291,434 | $ | 317,659 | $ | 906,949 | $ | 951,832 | |||||||
Operating profit | |||||||||||||||
Industrial | $ | 27,304 | $ | 33,205 | $ | 88,262 | $ | 81,344 | |||||||
Aerospace | 16,443 | 17,680 | 50,029 | 50,047 | |||||||||||
Total operating profit | 43,747 | 50,885 | 138,291 | 131,391 | |||||||||||
Interest expense | 2,637 | 2,435 | 7,944 | 8,558 | |||||||||||
Other (income) expense, net | (545 | ) | 741 | (228 | ) | 1,768 | |||||||||
Income from continuing operations before income taxes | $ | 41,655 | $ | 47,709 | $ | 130,575 | $ | 121,065 |
September 30, 2015 | December 31, 2014 | ||||||
Assets | |||||||
Industrial (A) | $ | 1,282,039 | $ | 1,281,974 | |||
Aerospace | 645,555 | 655,042 | |||||
Other (B) | 150,484 | 136,869 | |||||
Total assets | $ | 2,078,078 | $ | 2,073,885 |
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September 30, 2015 | December 31, 2014 | ||||||
Finished goods | $ | 78,712 | $ | 83,905 | |||
Work-in-process | 80,099 | 79,563 | |||||
Raw material and supplies | 54,510 | 48,576 | |||||
$ | 213,321 | $ | 212,044 |
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Industrial | Aerospace | Total Company | |||||||||
January 1, 2015 | $ | 564,163 | $ | 30,786 | $ | 594,949 | |||||
Goodwill acquired | 20,249 | — | 20,249 | ||||||||
Foreign currency translation | (20,067 | ) | — | (20,067 | ) | ||||||
September 30, 2015 | $ | 564,345 | $ | 30,786 | $ | 595,131 |
September 30, 2015 | December 31, 2014 | ||||||||||||||||
Range of Life -Years | Gross Amount | Accumulated Amortization | Gross Amount | Accumulated Amortization | |||||||||||||
Amortized intangible assets: | |||||||||||||||||
Revenue sharing programs (RSPs) | Up to 30 | $ | 293,700 | $ | (82,137 | ) | $ | 293,700 | $ | (72,958 | ) | ||||||
Component repair programs (CRPs) | Up to 30 | 106,639 | (4,996 | ) | 106,639 | (1,941 | ) | ||||||||||
Customer lists/relationships | 10-16 | 193,266 | (38,978 | ) | 183,406 | (30,731 | ) | ||||||||||
Patents and technology | 6-14 | 66,152 | (27,619 | ) | 62,972 | (22,356 | ) | ||||||||||
Trademarks/trade names | 10-30 | 11,950 | (9,215 | ) | 11,950 | (8,552 | ) | ||||||||||
Other | Up to 15 | 16,552 | (15,101 | ) | 19,292 | (14,806 | ) | ||||||||||
688,259 | (178,046 | ) | 677,959 | (151,344 | ) | ||||||||||||
Unamortized intangible asset: | |||||||||||||||||
Trade names | 38,370 | — | 36,900 | — | |||||||||||||
Foreign currency translation | (20,532 | ) | — | (8,821 | ) | — | |||||||||||
Other intangible assets | $ | 706,097 | $ | (178,046 | ) | $ | 706,038 | $ | (151,344 | ) |
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September 30, 2015 | December 31, 2014 | |||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||
Revolving credit agreement | $ | 361,312 | $ | 357,962 | $ | 393,518 | $ | 394,917 | ||||||||
3.97% Senior Notes | 100,000 | 105,551 | 100,000 | 102,859 | ||||||||||||
Borrowings under lines of credit and overdrafts | 10,509 | 10,509 | 8,028 | 8,028 | ||||||||||||
Other foreign bank borrowings | 449 | 447 | — | — | ||||||||||||
Capital leases | 7,724 | 8,256 | 3,188 | 3,479 | ||||||||||||
479,994 | 482,725 | 504,734 | 509,283 | |||||||||||||
Less current maturities | (12,032 | ) | (8,890 | ) | ||||||||||||
Long-term debt | $ | 467,962 | $ | 495,844 |
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Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Foreign exchange contracts | $ | (2,431 | ) | $ | 141 | $ | 4,514 | $ | (847 | ) |
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Cash flow hedges: | |||||||||||||||
Interest rate contracts | $ | (151 | ) | $ | 312 | $ | (320 | ) | $ | 169 | |||||
Foreign exchange contracts | (23 | ) | 252 | 447 | (136 | ) | |||||||||
$ | (174 | ) | $ | 564 | $ | 127 | $ | 33 |
September 30, 2015 | December 31, 2014 | ||||||||||||||
Asset Derivatives | Liability Derivatives | Asset Derivatives | Liability Derivatives | ||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||
Interest rate contracts | $ | — | $ | (805 | ) | $ | — | $ | (295 | ) | |||||
Foreign exchange contracts | — | (79 | ) | — | (652 | ) | |||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||
Foreign exchange contracts | 148 | (410 | ) | 460 | (699 | ) | |||||||||
Total derivatives | $ | 148 | $ | (1,294 | ) | $ | 460 | $ | (1,646 | ) |
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Fair Value Measurements Using | ||||||||||||||||
Description | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
September 30, 2015 | ||||||||||||||||
Asset derivatives | $ | 148 | $ | — | $ | 148 | $ | — | ||||||||
Liability derivatives | (1,294 | ) | — | (1,294 | ) | — | ||||||||||
Bank acceptances | 14,732 | — | 14,732 | — | ||||||||||||
Rabbi trust assets | 2,065 | 2,065 | — | — | ||||||||||||
$ | 15,651 | $ | 2,065 | $ | 13,586 | $ | — | |||||||||
December 31, 2014 | ||||||||||||||||
Asset derivatives | $ | 460 | $ | — | $ | 460 | $ | — | ||||||||
Liability derivatives | (1,646 | ) | — | (1,646 | ) | — | ||||||||||
Bank acceptances | 10,785 | — | 10,785 | — | ||||||||||||
Rabbi trust assets | 2,092 | 2,092 | — | — | ||||||||||||
$ | 11,691 | $ | 2,092 | $ | 9,599 | $ | — |
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Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
Pensions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 1,374 | $ | 1,132 | $ | 4,126 | $ | 3,439 | |||||||
Interest cost | 4,976 | 5,455 | 14,968 | 16,432 | |||||||||||
Expected return on plan assets | (8,048 | ) | (8,476 | ) | (24,207 | ) | (25,529 | ) | |||||||
Amortization of prior service cost | 76 | 152 | 231 | 486 | |||||||||||
Amortization of actuarial losses | 3,730 | 2,141 | 11,215 | 6,374 | |||||||||||
Curtailment loss | — | — | — | 219 | |||||||||||
Settlement loss | — | 281 | — | 863 | |||||||||||
Special termination benefits | — | — | — | 715 | |||||||||||
Net periodic benefit cost | $ | 2,108 | $ | 685 | $ | 6,333 | $ | 2,999 | |||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
Other Postretirement Benefits | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 36 | $ | 29 | $ | 109 | $ | 110 | |||||||
Interest cost | 459 | 540 | 1,377 | 1,638 | |||||||||||
Amortization of prior service credit | (141 | ) | (218 | ) | (423 | ) | (653 | ) | |||||||
Amortization of actuarial losses | 253 | 268 | 758 | 751 | |||||||||||
Curtailment loss | — | — | — | 4 | |||||||||||
Net periodic benefit cost | $ | 607 | $ | 619 | $ | 1,821 | $ | 1,850 |
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Gains and Losses on Cash Flow Hedges | Pension and Other Postretirement Benefit Items | Foreign Currency Items | Total | ||||||||||||
January 1, 2015 | $ | (732 | ) | $ | (115,289 | ) | $ | 16,568 | $ | (99,453 | ) | ||||
Other comprehensive (loss) income before reclassifications to consolidated statements of income | (665 | ) | 1,412 | (38,847 | ) | (38,100 | ) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) to the consolidated statements of income | 792 | 7,631 | — | 8,423 | |||||||||||
Net current-period other comprehensive income (loss) | 127 | 9,043 | (38,847 | ) | (29,677 | ) | |||||||||
September 30, 2015 | $ | (605 | ) | $ | (106,246 | ) | $ | (22,279 | ) | $ | (129,130 | ) |
Gains and Losses on Cash Flow Hedges | Pension and Other Postretirement Benefit Items | Foreign Currency Items | Total | ||||||||||||
January 1, 2014 | $ | (519 | ) | $ | (73,273 | ) | $ | 99,736 | $ | 25,944 | |||||
Other comprehensive loss before reclassifications to consolidated statements of income | (585 | ) | (7,081 | ) | (51,837 | ) | (59,503 | ) | |||||||
Amounts reclassified from accumulated other comprehensive income (loss) to the consolidated statements of income | 618 | 5,563 | — | 6,181 | |||||||||||
Net current-period other comprehensive income (loss) | 33 | (1,518 | ) | (51,837 | ) | (53,322 | ) | ||||||||
September 30, 2014 | $ | (486 | ) | $ | (74,791 | ) | $ | 47,899 | $ | (27,378 | ) |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | ||||||||
Three months ended September 30, 2015 | Three months ended September 30, 2014 | |||||||||
Gains and losses on cash flow hedges | ||||||||||
Interest rate contracts | $ | (214 | ) | $ | (224 | ) | Interest expense | |||
Foreign exchange contracts | (137 | ) | (239 | ) | Net sales | |||||
(351 | ) | (463 | ) | Total before tax | ||||||
110 | 136 | Tax benefit | ||||||||
(241 | ) | (327 | ) | Net of tax | ||||||
Pension and other postretirement benefit items | ||||||||||
Amortization of prior-service credits, net | $ | 65 | $ | 66 | (A) | |||||
Amortization of actuarial losses | (3,983 | ) | (2,409 | ) | (A) | |||||
Settlement loss | — | (281 | ) | (A) | ||||||
(3,918 | ) | (2,624 | ) | Total before tax | ||||||
1,383 | 814 | Tax benefit | ||||||||
(2,535 | ) | (1,810 | ) | Net of tax | ||||||
Total reclassifications in the period | $ | (2,776 | ) | $ | (2,137 | ) |
Details about Accumulated Other Comprehensive Income (Loss) Components | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Affected Line Item in the Consolidated Statements of Income | ||||||||
Nine months ended September 30, 2015 | Nine months ended September 30, 2014 | |||||||||
Gains and losses on cash flow hedges | ||||||||||
Interest rate contracts | $ | (642 | ) | $ | (663 | ) | Interest expense | |||
Foreign exchange contracts | (499 | ) | (259 | ) | Net sales | |||||
(1,141 | ) | (922 | ) | Total before tax | ||||||
349 | 304 | Tax benefit | ||||||||
(792 | ) | (618 | ) | Net of tax | ||||||
Pension and other postretirement benefit items | ||||||||||
Amortization of prior-service credits, net | $ | 192 | $ | 167 | (A) | |||||
Amortization of actuarial losses | (11,973 | ) | (7,125 | ) | (A) | |||||
Curtailment loss | — | (223 | ) | (A) | ||||||
Settlement loss | — | (863 | ) | (A) | ||||||
(11,781 | ) | (8,044 | ) | Total before tax | ||||||
4,150 | 2,481 | Tax benefit | ||||||||
(7,631 | ) | (5,563 | ) | Net of tax | ||||||
Total reclassifications in the period | $ | (8,423 | ) | $ | (6,181 | ) |
|
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Net sales | |||||||||||||||
Industrial | $ | 189,106 | $ | 207,230 | $ | 592,044 | $ | 623,886 | |||||||
Aerospace | 102,329 | 110,429 | 314,910 | 327,951 | |||||||||||
Intersegment sales | (1 | ) | — | (5 | ) | (5 | ) | ||||||||
Total net sales | $ | 291,434 | $ | 317,659 | $ | 906,949 | $ | 951,832 | |||||||
Operating profit | |||||||||||||||
Industrial | $ | 27,304 | $ | 33,205 | $ | 88,262 | $ | 81,344 | |||||||
Aerospace | 16,443 | 17,680 | 50,029 | 50,047 | |||||||||||
Total operating profit | 43,747 | 50,885 | 138,291 | 131,391 | |||||||||||
Interest expense | 2,637 | 2,435 | 7,944 | 8,558 | |||||||||||
Other (income) expense, net | (545 | ) | 741 | (228 | ) | 1,768 | |||||||||
Income from continuing operations before income taxes | $ | 41,655 | $ | 47,709 | $ | 130,575 | $ | 121,065 |
September 30, 2015 | December 31, 2014 | ||||||
Assets | |||||||
Industrial (A) | $ | 1,282,039 | $ | 1,281,974 | |||
Aerospace | 645,555 | 655,042 | |||||
Other (B) | 150,484 | 136,869 | |||||
Total assets | $ | 2,078,078 | $ | 2,073,885 |
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