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Segment Information | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segment Information | Note 18 — Segment Information The financial results for our 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 segments based on operating income, and generally account for intersegment sales based on arm’s length prices. We report two segments, Composite Materials and Engineered Products. Corporate and certain other expenses are not allocated to the segments, except to the extent that the expense can be directly attributable to the segment. Corporate & Other is shown to reconcile to Hexcel’s consolidated results. In addition to the product line-based segmentation of our business, we also monitor sales into our principal end markets as a means to understanding demand for our products. The following table presents financial information on our segments as of December 31, 2020, 2019 and 2018, and for the years then ended.
(In millions) |  | Composite Materials |  |  | Engineered Products |  |  | Corporate & Other |  |  | Total |
Third-party sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 1,185.9 |  |  | $ | 316.5 |  |  | $ | — |  |  | $ | 1,502.4 |
2019 |  |  | 1,863.1 |  |  |  | 492.6 |  |  |  | — |  |  |  | 2,355.7 |
2018 |  |  | 1,770.5 |  |  |  | 418.6 |  |  |  | — |  |  |  | 2,189.1 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 53.9 |  |  | $ | 2.5 |  |  | $ | (56.4 | ) |  | $ | — |
2019 |  |  | 83.4 |  |  |  | 0.8 |  |  |  | (84.2 | ) |  |  | — |
2018 |  |  | 74.6 |  |  |  | 0.1 |  |  |  | (74.7 | ) |  |  | — |
Operating income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 60.7 |  |  | $ | 9.4 |  |  | $ | (56.0 | ) |  | $ | 14.1 |
2019 |  |  | 411.3 |  |  |  | 72.0 |  |  |  | (58.1 | ) |  |  | 425.2 |
2018 |  |  | 373.8 |  |  |  | 50.6 |  |  |  | (53.2 | ) |  |  | 371.2 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 125.5 |  |  | $ | 15.3 |  |  | $ | 0.1 |  |  | $ | 140.9 |
2019 |  |  | 126.5 |  |  |  | 15.1 |  |  |  | 0.1 |  |  |  | 141.7 |
2018 |  |  | 113.9 |  |  |  | 9.1 |  |  |  | 0.1 |  |  |  | 123.1 |
Equity in earnings from affiliated companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | (0.3 | ) |  | $ | (1.1 | ) |  | $ | (0.2 | ) |  | $ | (1.6 | )
2019 |  |  | (0.3 | ) |  |  | 4.3 |  |  |  | (0.3 | ) |  |  | 3.7 |
2018 |  |  | — |  |  |  | 5.6 |  |  |  | — |  |  |  | 5.6 |
Other operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 32.1 |  |  | $ | 9.8 |  |  | $ | 16.0 |  |  | $ | 57.9 |
2019 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
2018 |  |  | - |  |  |  | 7.7 |  |  |  | - |  |  |  | 7.7 |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 2,382.3 |  |  | $ | 473.8 |  |  | $ | 61.7 |  |  | $ | 2,917.8 |
2019 |  |  | 2,669.6 |  |  |  | 465.2 |  |  |  | (6.2) |  |  |  | 3,128.6 |
2018 |  |  | 2,501.9 |  |  |  | 272.9 |  |  |  | 49.3 |  |  |  | 2,824.1 |
Investments in affiliated companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 2.0 |  |  | $ | 35.0 |  |  | $ | 7.7 |  |  | $ | 44.7 |
2019 |  |  | 2.2 |  |  |  | 36.1 |  |  |  | 8.2 |  |  |  | 46.5 |
2018 |  |  | 2.4 |  |  |  | 32.1 |  |  |  | 14.2 |  |  |  | 48.7 |
Accrual basis additions to property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 38.6 |  |  | $ | 3.9 |  |  | $ | — |  |  | $ | 42.5 |
2019 |  |  | 185.8 |  |  |  | 5.2 |  |  |  | — |  |  |  | 191.0 |
2018 |  |  | 173.5 |  |  |  | 5.6 |  |  |  | — |  |  |  | 179.1 |
Geographic Data Net sales and long-lived assets, by geographic area, consisted of the following for the three years ended December 31, 2020, 2019 and 2018:
(In millions) |  | 2020 |  |  | 2019 |  |  | 2018 |
Net Sales by Geography (a): |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 792.6 |  |  | $ | 1,246.9 |  |  | $ | 1,055.9 |
International |  |  |  |  |  |  |  |  |  |  |  |
France |  |  | 226.1 |  |  |  | 364.3 |  |  |  | 369.8 |
Spain |  |  | 101.5 |  |  |  | 166.6 |  |  |  | 189.5 |
Germany |  |  | 127.1 |  |  |  | 221.3 |  |  |  | 216.0 |
United Kingdom |  |  | 104.8 |  |  |  | 168.9 |  |  |  | 167.3 |
Austria |  |  | 83.6 |  |  |  | 110.1 |  |  |  | 111.4 |
Other |  |  | 66.7 |  |  |  | 77.6 |  |  |  | 79.2 |
Total international |  |  | 709.8 |  |  |  | 1,108.8 |  |  |  | 1,133.2 |
Total consolidated net sales |  | $ | 1,502.4 |  |  | $ | 2,355.7 |  |  | $ | 2,189.1 |
Net Sales to External Customers (b): |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 703.5 |  |  | $ | 1,083.3 |  |  | $ | 909.8 |
International |  |  |  |  |  |  |  |  |  |  |  |
Germany |  | 124.6 |  |  | 212.8 |  |  | 233.1 |
France |  | 106.7 |  |  | 191.9 |  |  | 201.7 |
Spain |  | 107.4 |  |  | 188 |  |  | 194.1 |
United Kingdom |  |  | 37.7 |  |  |  | 77.4 |  |  |  | 79.0 |
Other |  |  | 422.5 |  |  |  | 602.3 |  |  |  | 571.4 |
Total international |  |  | 798.9 |  |  |  | 1,272.4 |  |  |  | 1,279.3 |
Total |  | $ | 1,502.4 |  |  | $ | 2,355.7 |  |  | $ | 2,189.1 |
Long-lived Assets (c): |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,523.3 |  |  | $ | 1,609.2 |  |  | $ | 1,332.1 |
International |  |  |  |  |  |  |  |  |  |  |  |
France |  | 398.5 |  |  | 387.1 |  |  | 397.7 |
United Kingdom |  | 144.4 |  |  | 151.9 |  |  | 146.1 |
Spain |  | 57.7 |  |  | 57.2 |  |  | 56.6 |
Other |  | 86.6 |  |  | 84.3 |  |  | 86.3 |
Total international |  |  | 687.2 |  |  |  | 680.5 |  |  |  | 686.7 |
Total consolidated long-lived assets |  | $ | 2,210.5 |  |  | $ | 2,289.7 |  |  | $ | 2,018.8 |
(a) | Net sales by geography based on the location in which the product sold was manufactured.
(b) | Net sales to external customers based on the location to which the product sold was delivered.
(c) | Long-lived assets primarily consist of property, plant and equipment, net and goodwill at December 31, 2020, 2019 and 2018. Also included at December 31, 2020 and 2019 are right of use assets related to operating leases.
Significant Customers and Suppliers Approximately 33% and 39% of our 2020 and 2019 net sales, respectively, were to Airbus and its subcontractors. Of the 33% of overall sales to Airbus and its subcontractors in 2020, 30% related to Commercial Aerospace market applications and 3% related to Space & Defense market applications. Approximately 19% and 25% of our 2020 and 2019 net sales were to Boeing and related subcontractors. Of the 19% of overall sales to Boeing and its subcontractors in 2020, 16% related to Commercial Aerospace market applications and 3% related to Space & Defense market applications. In the Composite Materials segment approximately 13% of sales for 2020, 17% for 2019 and 16% for 2018, were to Boeing and its subcontractors. Approximately 38%, 44% and 46% of sales for 2020, 2019 and 2018, respectively were to Airbus and its subcontractors. In the Engineered Products segment approximately 40%, 55% and 63% of sales for 2020, 2019 and 2018, respectively were to Boeing and its subcontractors. . A significant decline in business with Airbus or Boeing could materially impact our business, operating results, prospects and financial condition. Certain key raw materials we consume are available from relatively few sources, and in many cases the cost of product qualification makes it impractical to develop multiple sources of supply. The lack of availability of these materials could under certain circumstances materially impact our consolidated results of operations.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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