SEGMENT DATA

The Company manages and reports its business in the following two segments: Industrial and Infrastructure. The Company's reportable operating segments have been determined in accordance with the Company's internal management structure, which is organized based on operating activities, the manner in which we organize segments for making operating decisions and assessing performance and the availability of separate financial results. We do not allocate certain corporate expenses related to executive retirement plans, the Company’s Board of Directors and strategic initiatives, as well as certain other costs and report them in Corporate. Neither of our two reportable operating segments represent the aggregation of two or more operating segments.

Sales to a single customer did not aggregate 4 percent or more of total sales in 2016, 2015 and 2014. Export sales from U.S. operations to unaffiliated customers were $65.3 million, $71.0 million and $82.2 million in 2016, 2015 and 2014, respectively.

INDUSTRIAL The Industrial segment generally serves customers that operate in industrial end markets such as transportation, general engineering, aerospace and defense. The customers in these end markets manufacture engines, airframes, automobiles, trucks, ships and various types of industrial equipment. The technology and customization requirements for customers we serve vary by customer, application and industry. The value we deliver to our Industrial segment customers centers on our application expertise and our diverse offering of products and services.

INFRASTRUCTURE The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors who support primary industries such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. Generally, we rely on customer intimacy to serve this segment. By gaining an in-depth understanding of our customers’ engineering and development needs, we are able to offer complete system solutions and high-performance capabilities to optimize and add value to their operations.

Segment data is summarized as follows:



(in thousands)	2016			2015			2014
Sales:
Industrial	$	1,269,162		$	1,461,744		$	1,524,075
Infrastructure	829,274			1,185,451			1,313,115
Total sales	$	2,098,436		$	2,647,195		$	2,837,190

Operating (loss) income:
Industrial	$	81,243		$	160,894		$	177,040
Infrastructure	(246,306		)	(509,381		)	94,940
Corporate	(9,880		)	(9,336		)	(8,548		)
Total operating (loss) income	$	(174,943	)	$	(357,823	)	$	263,432

Interest expense	$	27,752		$	31,466		$	32,451
Other (income) expense, net	(4,124		)	(1,674		)	2,172
(Loss) income before income taxes	$	(198,571	)	$	(387,615	)	$	228,809

Depreciation and amortization:
Industrial	$	62,942		$	64,188		$	65,820
Infrastructure	54,459			67,413			64,339
Corporate	65			63			63
Total depreciation and amortization	$	117,466		$	131,664		$	130,222

Equity income:
Industrial	$	—		$	—		$	34
Infrastructure	(10		)	6			50
Total equity income	$	(10	)	$	6		$	84

Total assets:
Industrial	$	1,215,226		$	1,259,270		$	1,449,688
Infrastructure	849,447			1,279,608			1,986,724
Corporate	304,120			310,651			431,674
Total assets	$	2,368,793		$	2,849,529		$	3,868,086

Capital expenditures:
Industrial	$	80,560		$	64,497		$	71,628
Infrastructure	30,137			36,442			45,748
Total capital expenditures	$	110,697		$	100,939		$	117,376

Investments in affiliated companies:
Industrial	$	—		$	—		$	—
Infrastructure	2			361			495
Total investments in affiliated companies	$	2		$	361		$	495

Geographic information for sales, based on country of origin, and assets is as follows:



(in thousands)	2016		2015		2014
Sales:
United States	$	897,399	$	1,176,622	$	1,198,541
Germany	334,366		442,009		511,209
China	210,124		246,953		248,212
India	77,934		85,193		81,455
Italy	69,821		85,530		107,511
France	56,264		59,772		63,473
Canada	55,812		73,912		78,163
United Kingdom	50,723		70,600		105,041
Other	345,993		406,604		443,585
Total sales	$	2,098,436	$	2,647,195	$	2,837,190

Total assets:
United States	$	1,075,330	$	1,338,594	$	1,842,453
Germany	327,679		394,491		538,661
China	233,200		274,774		341,949
Switzerland	189,498		194,139		264,928
India	91,544		97,463		94,897
Canada	57,174		60,492		133,481
Italy	50,352		94,978		178,141
United Kingdom	48,507		71,342		79,657
Other	295,509		323,256		393,919
Total assets:	$	2,368,793	$	2,849,529	$	3,868,086

Approximate sales by end markets as a percentage of consolidated sales are as follows:



	2016		2015		2014
End markets:
General engineering	38	%	36	%	31	%
Transportation	21		21		21
Energy	17		19		23
Earthworks	16		17		19
Aerospace and defense	8		7		6
Total	100	%	100	%	100	%