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Segment Information | 12 Months Ended
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Dec. 31, 2011
Segment Information |
Segment Information |
14. Segment Information The Company is organized into three reporting segments. The segments are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North American segment, comprising primarily the United States and Canada, the European segment and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the south Pacific and the Middle East. These segments are similar in several ways, including the types of materials, the production processes, the distribution channels and the product applications. The following table illustrates certain measurements used by management to assess the performance of the segments described above as of December 31, 2011, 2010 and 2009, or for the years then ended: (in thousands)
|  | North |  |  |  | Asia/ |  | Administrative |  |  |
2011 |  | America |  | Europe |  | Pacific |  | & All Other |  | Total |
Net sales |  | $ | 474,722 |  | $ | 118,246 |  | $ | 9,528 |  | $ | 950 |  | $ | 603,446 |
Sales to other segments * |  | 4,805 |  | 575 |  | 11,359 |  | — |  | 16,739 |
Income (loss) from operations |  | 75,350 |  | 1,296 |  | (1,471 | ) | (1,118 | ) | 74,057 |
Depreciation and amortization |  | 13,194 |  | 4,849 |  | 1,211 |  | 1,497 |  | 20,751 |
Impairment of goodwill |  | — |  | 1,282 |  | — |  | — |  | 1,282 |
Impairment of long-lived asset |  | 1,094 |  | — |  | — |  | — |  | 1,094 |
Significant non-cash charges |  | 4,464 |  | 966 |  | 129 |  | 1,278 |  | 6,837 |
Income tax expense (benefit) |  | 25,348 |  | 2,588 |  | (805 | ) | 755 |  | 27,886 |
Capital expenditures and acquisitions |  | 72,291 |  | 5,062 |  | 544 |  | 19 |  | 77,916 |
Total assets |  | 540,082 |  | 180,016 |  | 29,306 |  | 86,683 |  | 836,087 |
|  | North |  |  |  | Asia/ |  | Administrative |  |  |
2010 |  | America |  | Europe |  | Pacific |  | & All Other |  | Total |
Net sales |  | $ | 444,622 |  | $ | 101,314 |  | $ | 9,232 |  | $ | 319 |  | $ | 555,487 |
Sales to other segments * |  | 3,994 |  | 136 |  | 9,140 |  | — |  | 13,270 |
Income (loss) from operations |  | 81,007 |  | (3,674 | ) | (111 | ) | 1,202 |  | 78,424 |
Depreciation and amortization |  | 13,588 |  | 4,626 |  | 1,233 |  | 1,704 |  | 21,151 |
Impairment of goodwill |  | — |  | 6,292 |  | — |  | — |  | 6,292 |
Impairment of long-lived asset |  | — |  | 419 |  | — |  | — |  | 419 |
Significant non-cash charges |  | 2,645 |  | 390 |  | 47 |  | 607 |  | 3,689 |
Income tax expense |  | 28,712 |  | 2,440 |  | 289 |  | 1,798 |  | 33,239 |
Capital expenditures and acquisitions |  | 26,305 |  | 6,370 |  | 512 |  | 368 |  | 33,555 |
Total assets |  | 557,762 |  | 123,669 |  | 25,576 |  | 167,702 |  | 874,709 |
|  | North |  |  |  | Asia/ |  | Administrative |  |  |
2009 |  | America |  | Europe |  | Pacific |  | & All Other |  | Total |
Net sales |  | $ | 427,428 |  | $ | 93,616 |  | $ | 5,500 |  | $ | — |  | $ | 526,544 |
Sales to other segments * |  | 5,129 |  | 282 |  | 2,274 |  | — |  | 7,685 |
Income (loss) from operations |  | 49,895 |  | (12,050 | ) | (4,013 | ) | (2,336 | ) | 31,496 |
Depreciation and amortization |  | 17,062 |  | 5,203 |  | 972 |  | 2,127 |  | 25,364 |
Significant non-cash charges |  | 1,718 |  | 307 |  | 12 |  | 115 |  | 2,152 |
Income tax expense (benefit) |  | 16,146 |  | (364 | ) | (152 | ) | 1,726 |  | 17,356 |
Capital expenditures and acquisitions |  | 3,816 |  | 30,372 |  | 3,673 |  | 1,626 |  | 39,487 |
Total assets |  | 496,970 |  | 133,676 |  | 20,150 |  | 193,009 |  | 843,805 |
* |  | Sales to other segments are eliminated on consolidation.
Total assets from discontinued operations of $71.6 million at December 31, 2009, and capital expenditures and acquisitions from the discontinued operations of $0.4 million for the year ended December 31, 2009, are included in “Administrative and All Other” for that year. Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts, and therefore has been included in the total assets of “Administrative and All Other.” Cash and short-term investment balances in “Administrative and All Other” were $68.5 million, $274.6 million and $205.1 million as of December 31, 2011, 2010 and 2009, respectively. The significant non-cash charges comprise compensation related to the awards under the stock-based incentive plans and the stock bonus plan. The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The reconciling amounts between consolidated income before tax and consolidated income from operations are net interest income, which is primarily attributed to “Administrative and All Other,” and loss from equity method investment, which is attributed to the North American segment. The following table illustrates how the Company’s net sales and long-lived assets were distributed geographically as of December 31, 2011, 2010 and 2009, or for the years then ended: (in thousands)
|  | 2011 |  | 2010 |  | 2009 |
|  | Net |  | Long-Lived |  | Net |  | Long-Lived |  | Net |  | Long-Lived |
|  | Sales |  | Assets |  | Sales |  | Assets |  | Sales |  | Assets |
United States |  | $ | 433,242 |  | $ | 165,363 |  | $ | 401,675 |  | $ | 154,182 |  | $ | 393,078 |  | $ | 157,228 |
Canada |  | 42,350 |  | 5,964 |  | 43,165 |  | 6,117 |  | 34,121 |  | 5,818 |
Denmark |  | 20,162 |  | 2,831 |  | 18,623 |  | 3,533 |  | 18,893 |  | 4,658 |
United Kingdom |  | 23,598 |  | 1,370 |  | 20,233 |  | 1,660 |  | 18,157 |  | 2,150 |
France |  | 43,319 |  | 10,530 |  | 34,552 |  | 12,573 |  | 31,897 |  | 13,634 |
Germany |  | 27,237 |  | 4,957 |  | 24,221 |  | 1,278 |  | 21,269 |  | 1,434 |
Ireland |  | 2,720 |  | 3,075 |  | 2,769 |  | 3,454 |  | 2,552 |  | 3,993 |
China/Hong Kong |  | 4,754 |  | 10,022 |  | 5,027 |  | 10,522 |  | 2,890 |  | 11,105 |
Australia |  | 4,774 |  | 507 |  | 4,205 |  | 276 |  | 2,610 |  | 344 |
Other countries |  | 1,290 |  | 560 |  | 1,017 |  | 604 |  | 1,077 |  | 626 |
|  | $ | 603,446 |  | $ | 205,179 |  | $ | 555,487 |  | $ | 194,199 |  | $ | 526,544 |  | $ | 200,990 |
Net sales and long-lived assets, net of intangible assets, are attributable to the country where the operations are located. Long-lived assets of the Company’s discontinued venting operations, which were sold in 2010, were $12.0 million at December 31, 2009, and are included in the “United States” amount for that year. The Company’s largest customer, attributable mostly to the North America segment, accounted for 10%, 11% and 12% of net sales for the years ended December 31, 2011, 2010 and 2009, respectively.

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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 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 Reference 9: 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 10: 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 11: 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 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 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: 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 15: 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 + Details
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