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SEGMENTS | 12 Months Ended
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Dec. 31, 2016
SEGMENTS [Abstract] |
SEGMENTS | 12. SEGMENTS The Company operates in one industry with three reportable operating segments, which are geographic in nature. The segments consist of North America, Asia and Europe. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and income from operations. The following is a summary of key financial data:
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  |  |  |  | (Revised) |  |  | (Revised) |
Net Sales to External Customers: |  |  |  |  |  |  |  |  |
North America |  | $ | 256,760 |  |  | $ | 304,328 |  |  | $ | 217,258 |
Asia |  |  | 168,458 |  |  |  | 188,146 |  |  |  | 201,338 |
Europe |  |  | 74,935 |  |  |  | 74,606 |  |  |  | 68,480 |
|  | $ | 500,153 |  |  | $ | 567,080 |  |  | $ | 487,076 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 268,935 |  |  | $ | 329,304 |  |  | $ | 248,007 |
Asia |  |  | 256,202 |  |  |  | 295,751 |  |  |  | 275,765 |
Europe |  |  | 86,750 |  |  |  | 148,735 |  |  |  | 114,748 |
Less intercompany |  |  |  |  |  |  |  |  |  |  |  |
net sales |  |  | (111,734 | ) |  |  | (206,710 | ) |  |  | (151,444 | )
|  | $ | 500,153 |  |  | $ | 567,080 |  |  | $ | 487,076 |
(Loss) Income from Operations: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | (35,722 | ) |  | $ | 11,012 |  |  | $ | (4,531 | )
Asia |  |  | (24,360 | ) |  |  | 8,175 |  |  |  | 13,090 |
Europe |  |  | (16,430 | ) |  |  | 9,413 |  |  |  | 4,913 |
|  | $ | (76,512 | ) |  | $ | 28,600 |  |  | $ | 13,472 |
Total Assets: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 168,061 |  |  | $ | 238,930 |  |  | $ | 309,516 |
Asia |  |  | 166,028 |  |  |  | 231,063 |  |  |  | 251,240 |
Europe |  |  | 92,651 |  |  |  | 108,512 |  |  |  | 69,616 |
|  | $ | 426,740 |  |  | $ | 578,505 |  |  | $ | 630,372 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 2,641 |  |  | $ | 2,425 |  |  | $ | 3,862 |
Asia |  |  | 4,329 |  |  |  | 4,888 |  |  |  | 4,089 |
Europe |  |  | 1,253 |  |  |  | 2,578 |  |  |  | 1,091 |
|  | $ | 8,223 |  |  | $ | 9,891 |  |  | $ | 9,042 |
Depreciation and Amortization Expense: |  |  |  |  |  |  |  |  |
North America |  | $ | 10,522 |  |  | $ | 10,841 |  |  | $ | 7,986 |
Asia |  |  | 7,976 |  |  |  | 8,706 |  |  |  | 8,391 |
Europe |  |  | 3,280 |  |  |  | 3,462 |  |  |  | 3,990 |
|  | $ | 21,778 |  |  | $ | 23,009 |  |  | $ | 20,367 |
Net Sales – Segment net sales are attributed to individual segments based on the geographic source of the billing for such customer sales. Intercompany sales include finished products manufactured in foreign countries which are then transferred to the United States and Europe for sale; finished goods manufactured in the United States which are transferred to Europe and Asia for sale; and semi-finished components manufactured in the United States which are sold to Asia for further processing. Income from operations represents net sales less operating costs and expenses and does not include any amounts related to intercompany transactions. The following items are included in the segment data presented above: Acquisitions – Since the 2014 Acquisitions occurred mid-year during 2014, Bel's segment net sales and income from operations presented above for the year ended December 31, 2014 only include contributions from the respective dates of acquisitions. The following table indicates the contributions to net sales and income (loss) from operations from the 2014 Acquisitions:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |
Net Sales to External Customers: |  |  |  |  |  |
North America |  | $ | 189,118 |  |  | $ | 101,772 |
Asia |  |  | 5,898 |  |  |  | 5,870 |
Europe |  |  | 35,319 |  |  |  | 26,694 |
Net sales from the 2014 Acquisitions |  | $ | 230,335 |  |  | $ | 134,336 |
Income (loss) from operations: |  |  |  |  |  |  |  |
North America |  | $ | 5,123 |  |  | $ | (3,585 | )
Asia |  |  | (2,403 | ) |  |  | (3,358 | )
Europe |  |  | 7,530 |  |  |  | 4,406 |
Total income (loss) from operations |  |  |  |  |  |  |  |
from the 2014 Acquisitions |  | $ | 10,250 |  |  | $ | (2,537 | )
Restructuring Charges – The following restructuring charges are included in income (loss) from operations by segment. See Note 3, "Restructuring Activities," for further information on the Company's restructuring efforts.
|  | 2016 |  |  | 2015 |  |  | 2014 |
North America |  | $ | 692 |  |  | $ | 1,452 |  |  | $ | 1,539 |
Asia |  |  | 1,305 |  |  |  | 352 |  |  |  | - |
Europe |  |  | 90 |  |  |  | 310 |  |  |  | 293 |
|  | $ | 2,087 |  |  | $ | 2,114 |  |  | $ | 1,832 |
Impairment Charges – As discussed in Note 4, Goodwill and Other Intangible Assets, the Company recorded a $106.0 million non-cash impairment charge related to its goodwill and trademarks in 2016. Of this charge, $44.0 million was recorded in the Company's North America segment, $41.7 million was recorded in its Asia segment and $20.3 million was recorded in its Europe segment. These charges impacted the Company's income from operations for 2016 and the reduction in goodwill accounted for the majority of the decline in total assets from December 31, 2015 noted above. Entity-Wide Information The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.
|  | 2016 |  |  | 2015 |  |  | 2014 |
Net Sales by Geographic Location: |  |  |  |  |  |  |  |  |
United States |  | $ | 256,760 |  |  | $ | 304,328 |  |  | $ | 217,258 |
Macao |  |  | 163,971 |  |  |  | 182,248 |  |  |  | 195,469 |
United Kingdom |  |  | 21,953 |  |  |  | 27,552 |  |  |  | 22,852 |
Slovakia |  |  | 17,622 |  |  |  | 2,807 |  |  |  | 1,353 |
Germany |  |  | 14,104 |  |  |  | 16,314 |  |  |  | 18,663 |
Switzerland |  |  | 14,048 |  |  |  | 18,050 |  |  |  | 15,236 |
All other foreign countries |  |  | 11,695 |  |  |  | 15,781 |  |  |  | 16,245 |
Consolidated net sales |  | $ | 500,153 |  |  | $ | 567,080 |  |  | $ | 487,076 |
Net Sales by Major Product Line: |  |  |  |  |  |  |  |  |  |  |  |
Power solutions and protection |  | $ | 172,176 |  |  | $ | 214,766 |  |  | $ | 159,867 |
Connectivity solutions |  |  | 168,845 |  |  |  | 181,697 |  |  |  | 152,954 |
Magnetic solutions |  |  | 159,132 |  |  |  | 170,617 |  |  |  | 174,255 |
Consolidated net sales |  | $ | 500,153 |  |  | $ | 567,080 |  |  | $ | 487,076 |
The following is a summary of long-lived assets by geographic area as of December 31, 2016 and 2015:
|  | 2016 |  |  | 2015 |
Long-lived Assets by Geographic Location: |  |  |  |  | (Revised) |
United States |  | $ | 29,740 |  |  | $ | 32,327 |
People's Republic of China (PRC) |  |  | 32,666 |  |  |  | 37,796 |
Slovakia |  |  | 6,574 |  |  |  | 7,758 |
Switzerland |  |  | 3,593 |  |  |  | 4,006 |
United Kingdom |  |  | 1,419 |  |  |  | 2,016 |
All other foreign countries |  |  | 1,117 |  |  |  | 1,232 |
Consolidated long-lived assets |  | $ | 75,109 |  |  | $ | 85,135 |
Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area. The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately 40% of its identifiable assets are located in Asia. Net Sales to Major Customers The Company had net sales to one customer in excess of ten percent of consolidated net sales in each of 2016, 2015 and 2014. The net sales associated with this customer was $59.8 million in 2016 (12.0% of sales), $74.8 million in 2015 (13.2% of sales) and $76.4 million in 2014 (15.7% of sales). Net sales related to this significant customer were primarily reflected in the Asia operating segment during each of the three years discussed.

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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 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: 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=68060357&loc=d3e9038-108599 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=68060357&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 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 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=68060357&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 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: 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=68060357&loc=d3e8844-108599 Reference 8: 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=68060357&loc=d3e8984-108599 Reference 9: 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=68060357&loc=d3e9031-108599 Reference 10: 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=68060357&loc=d3e9054-108599 Reference 11: 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=68060357&loc=d3e8538-108599 Reference 12: 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=68060357&loc=d3e8864-108599 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=68060357&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 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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