XML 41 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Reporting
 6 Months Ended
Jun. 30, 2014
Segment Reporting  
Segment Reporting

(8)Segment Reporting

 

The Company is organized based on the nature of the products and services that it offers. Under this structure, the Company produces products within two distinct segments: Component Products and Packaging. Within the Component Products segment, the Company primarily uses cross-linked polyethylene foam to provide customers in the medical, aerospace and defense, automotive, and packaging markets with engineered products for numerous purposes. Within the Packaging segment, the Company primarily uses polyethylene and polyurethane foams, sheet plastics, and pulp fiber to provide customers with cushion packaging for their products.

 

The accounting policies of the segments are the same as those described in Note 1 to the consolidated financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission.  The Company evaluates the performance of its operating segments based on operating income.

 

Inter-segment transactions are uncommon and not material.  Therefore, they have not been reflected separately in the financial table below.  Revenues from customers outside of the United States are not material.  No customer comprised more than 10% of the Company’s consolidated revenues for the three-month period ended June 30, 2014.  All of the Company’s assets are located in the United States.  Unallocated assets consist of the Company’s cash balance and unallocated operating income consists of restructuring costs. Financial statement information by reportable segment is as follows (in thousands):

 

 

 

Three Months Ended June 30, 2014

 

Three Months Ended June 30, 2013

 

 

 

Component
Products
$

 

Packaging
$

 

Unallocated
$

 

Total
UFPT
$

 

Component
Products
$

 

Packaging
$

 

Unallocated
$

 

Total
UFPT
$

 

Net sales

 
23,888

 
10,137

 

—

 
34,025

 
24,827

 
11,005

 

—

 
35,832

 

Operating income

 
2,429

 
593

 
(234

)
2,788

 
3,217

 
1,416

 

—

 
4,633

 

Depreciation / amortization

 
481

 
635

 

—

 
1,116

 
463

 
540

 

—

 
1,003

 

Capital expenditures

 
2,022

 
909

 

—

 
2,931

 
196

 
2,097

 

—

 
2,293

 

 

 

 

Six Months Ended June 30, 2014

 

Six Months Ended June 30, 2013

 

 

 

Component
Products
$

 

Packaging
$

 

Unallocated
$

 

Total
UFPT
$

 

Component
Products
$

 

Packaging
$

 

Unallocated
$

 

Total
UFPT
$

 

Net sales

 
47,499

 
21,135

 

—

 
68,634

 
47,659

 
21,870

 

—

 
69,529

 

Operating income

 
4,872

 
1,434

 
(324

)
5,982

 
5,958

 
1,631

 

—

 
7,589

 

Depreciation / amortization

 
979

 
1,268

 

—

 
2,247

 
908

 
1,069

 

—

 
1,977

 

Capital expenditures

 
2,395

 
1,914

 

—

 
4,309

 
948

 
2,597

 

—

 
3,545

 

Total assets

 
32,582

 
44,342

 
31,960

 
108,884

 
34,707

 
32,946

 
34,272

 
101,925