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Segment Information | 3 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Segment Information | Note 10 — Segment Information The financial results for our operating segments are prepared using a management approach, which is consistent with the basis and manner in which we internally segregate financial information for the purpose of assisting in making internal operating decisions. We evaluate the performance of our operating segments based on operating income, and generally account for intersegment sales based on arm’s length prices. Corporate and certain other expenses are not allocated to the operating segments, except to the extent that the expense can be directly attributable to the business segment. Financial information for our operating segments for the quarter and three months ended March 31, 2020 and 2019 were as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
First Quarter 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 438.5 |  |  | $ | 102.5 |  |  | $ | — |  |  | $ | 541.0 |
Intersegment sales |  |  | 24.8 |  |  | 0.5 |  |  |  | (25.3 | ) |  |  | — |
Total sales |  | $ | 463.3 |  |  | $ | 103.0 |  |  | $ | (25.3 | ) |  | $ | 541.0 |
Other operating expense |  |  | 0.6 |  |  |  | 0.3 |  |  |  | 13.8 |  |  |  | 14.7 |
Operating income |  |  | 91.5 |  |  |  | 6.5 |  |  |  | (32.3 | ) |  |  | 65.7 |
Depreciation and amortization |  |  | 31.8 |  |  |  | 3.7 |  |  |  | — |  |  |  | 35.5 |
Stock-based compensation |  |  | 4.7 |  |  |  | 1.2 |  |  |  | 8.5 |  |  |  | 14.4 |
Accrual basis additions to capital expenditures |  |  | 20.2 |  |  |  | 1.7 |  |  |  | — |  |  |  | 21.9 |
First Quarter 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 487.7 |  |  | $ | 122.2 |  |  | $ | — |  |  | $ | 609.9 |
Intersegment sales |  |  | 19.2 |  |  |  | 0.1 |  |  |  | (19.3 | ) |  |  | — |
Total sales |  | $ | 506.9 |  |  | $ | 122.3 |  |  | $ | (19.3 | ) |  | $ | 609.9 |
Operating income |  |  | 112.5 |  |  |  | 14.8 |  |  |  | (24.5 | ) |  |  | 102.8 |
Depreciation and amortization |  |  | 34.9 |  |  |  | 3.8 |  |  |  | — |  |  |  | 38.7 |
Stock-based compensation |  |  | 4.1 |  |  |  | 0.8 |  |  |  | 6.2 |  |  |  | 11.1 |
Accrual basis additions to capital expenditures |  |  | 56.8 |  |  |  | 0.7 |  |  |  | — |  |  |  | 57.5 |
| (a) | We do not allocate corporate expenses to the operating segments.
Goodwill and Intangible Assets |  | Composite |  |  | Engineered |  |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Total |
Balance at December 31, 2019 |  | $ | 96.2 |  |  | $ | 184.2 |  |  | $ | 280.4 |
Amortization Expense |  |  | (0.5 | ) |  |  | (1.3 | ) |  |  | (1.8 | )
Currency translation adjustments |  |  | (2.0 | ) |  | — |  |  |  | (2.0 | )
Balance at March 31, 2020 |  | $ | 93.7 |  |  | $ | 182.9 |  |  | $ | 276.6 |
At March 31, 2020, the balance of goodwill and intangible assets was $188.3 million and $88.3 million, respectively. During the first quarter of 2020 the Company determined that the economic uncertainty caused by the novel strain of coronavirus (“COVID-19”) pandemic was a trigger for an impairment review of goodwill. As a result of management’s review, we determined that it was not more likely than not that there was impairment.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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