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Reportable Segments and Geographic Data | 12 Months Ended
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Dec. 31, 2012
Reportable Segments and Geographic Data [Abstract] |
Reportable Segments and Geographic Data | 3. Reportable Segments and Geographic Data In accordance with applicable disclosure guidance for enterprise segments and related information, the internal organization that is used by management for making operating decisions and assessing performance is used as the basis for our reportable segments. The accounting policies of the segments are the same as those described in Note 1. We do not allocate research costs and other Unallocated expenses to the segments because the decision-making for the majority of these expenses does not reside within the segments. Unallocated expenses include wages and benefits for Corporate headquarters personnel, costs related to information systems development and support, and professional fees related to legal, audit, and other activities. Machine Clothing: The Machine Clothing segment includes paper machine clothing - engineered fabrics and belts used in the manufacture of paper and paperboard - as well as engineered fabrics and belts used in many other industrial applications. We sell our Machine Clothing products directly to customer end-users, which include paper industry companies, nonwovens manufacturers, and building products companies, some of which operate in multiple regions of the world. Our products, manufacturing processes, and distribution channels for Machine Clothing are substantially the same in each region of the world in which we operate. We design, manufacture, and market paper machine clothing for each section of the paper machine. We manufacture and sell more paper machine clothing worldwide than any other company. Paper machine clothing consists of large permeable and non-permeable continuous belts of custom-designed and custom-manufactured engineered fabrics that are installed on paper machines and carry the paper stock through each stage of the paper production process. Paper machine clothing products are consumable products of technologically sophisticated design that utilize polymeric materials in a complex structure. The Machine Clothing segment also supplies consumable fabrics used to process paper pulp, as well as engineered fabrics used in a range of industries other than papermaking. These other products include belts used to make nonwovens, fiber cement building products, roofing shingles, and corrugated sheets used in boxboard, as well as belts used in tannery and textile applications. Engineered Composites: The Engineered Composites segment (AEC) provides custom-designed advanced composite structures based on proprietary technology to customers in the aerospace and defense industries. AEC's largest current development program relates to the LEAP engine being developed by CFM International. Under this program, AEC is developing a family of composite parts, including fan blades, to be incorporated into the LEAP engine under a long-term supply contract. The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:
(in thousands) |  | 2012 |  | 2011 |  | 2010
Net sales |  |  |  |  |  |  |  |  |
Machine Clothing |  | $693,176 |  |  | $739,211 |  |  | $701,020 |
Engineered Composites |  | 67,765 |  |  | 48,076 |  |  | 41,867 |
Consolidated total |  | $760,941 |  |  | $787,287 |  |  | $742,887 |
Depreciation and amortization |  |  |  |  |  |  |  |  |
Machine Clothing |  | $46,843 |  |  | $48,181 |  |  | $49,036 |
Engineered Composites |  | 5,920 |  |  | 4,959 |  |  | 4,277 |
Research expense |  | 1,252 |  |  | 1,314 |  |  | 1,226 |
Unallocated expenses |  | 9,052 |  |  | 9,358 |  |  | 5,905 |
Consolidated total |  | $63,067 |  |  | $63,812 |  |  | $60,444 |
Operating income/(loss) |  |  |  |  |  |  |  |  |
Machine Clothing |  | $163,873 |  |  | $176,759 |  |  | $165,662 |
Engineered Composites |  | (840 | ) |  | (4,204 | ) |  | (9,176 | )
Research expense |  | (27,616 | ) |  | (29,007 | ) |  | (26,064 | )
Unallocated expenses |  | (179,553 | ) |  | (68,940 | ) |  | (65,713 | )
Operating (loss)/income before reconciling items |  | (44,136 | ) |  | 74,608 |  |  | 64,709 |
Reconciling items: |  |  |  |  |  |  |  |  |
Interest income |  | (1,517 | ) |  | (2,027 | ) |  | (1,165 | )
Interest expense |  | 18,118 |  |  | 20,148 |  |  | 18,405 |
Other expense/ (income), net |  | 7,629 |  |  | 2,639 |  |  | (976 | )
(Loss)/income from continuing operations before income taxes |  | ($68,366 | ) |  | $53,848 |  |  | $48,445 |
The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):
(in thousands) |  | 2012 |  | 2011 |  | 2010
Pension settlement |  |  |  |  |  |
Unallocated expenses |  | $119,735 |  |  | $0 |  |  | $0 |
Restructuring expense |  |  |  |  |  |  |  |  |
Machine Clothing |  | $7,386 |  |  | $5,680 |  |  | $4,762 |
Engineered Composites |  | - |  |  | 57 |  |  | 930 |
Unallocated expenses |  | (325 | ) |  | 3,580 |  |  | (1,945 | )
Consolidated total |  | $7,061 |  |  | $9,317 |  |  | $3,747 |
In the measurement of assets utilized by each reportable segment, we include accounts receivable, inventories, net property, plant and equipment, intangibles and goodwill. Excluded from segment assets are cash, tax related assets, prepaid and other current assets, other assets, and assets from discontinued businesses. The following table presents assets and capital expenditures by reportable segment:
(in thousands) |  | 2012 |  | 2011 |  | 2010
Sement assets |  |  |  |  |  |  |  |  |
Machine Clothing |  | $660,595 |  |  | $713,142 |  |  | $773,135 |
Engineered Composites |  | 109,717 |  |  | 80,916 |  |  | 74,332 |
Reconciling items: |  |  |  |  |  |  |  |  |
Cash |  | 190,718 |  |  | 118,909 |  |  | 117,925 |
Income taxes receivable and deferred |  | 144,480 |  |  | 164,654 |  |  | 179,535 |
Other assets |  | 51,187 |  |  | 34,670 |  |  | 30,771 |
Assets of discontinued operations |  | - |  |  | 118,637 |  |  | 102,595 |
Consolidated total assets |  | $1,156,697 |  |  | $1,230,928 |  |  | $1,278,293 |
Capital expenditures and purchased software |  |  |  |  |  |  |  |  |
Machine Clothing |  | $14,717 |  |  | $11,141 |  |  | $19,234 |
Engineered Composites |  | 18,979 |  |  | 9,684 |  |  | 6,559 |
Research expenses |  | 1,493 |  |  | 2,052 |  |  | 1,084 |
Unallocated expenses |  | 2,018 |  |  | 4,551 |  |  | 4,080 |
Consolidated total |  | $37,207 |  |  | $27,428 |  |  | $30,957 |
The increase in Other assets in the above table includes $16.6 million of receivables related to the sale of discontinued operations. Additionally, capital expenditures in the discontinued operations were $1.3 million in 2011 and $0.7 million in 2010. The following table shows data by geographic area. Net sales are based on the location of the operation recording the final sale to the customer.
(in thousands) |  | 2012 |  | 2011 |  | 2010
Net sales |  |  |  |  |  |  |  |  |
United States |  | $324,764 |  |  | $306,371 |  |  | $296,265 |
Switzerland |  | 203,478 |  |  | 245,562 |  |  | 223,443 |
Brazil |  | 58,755 |  |  | 61,493 |  |  | 61,410 |
China |  | 39,929 |  |  | 34,977 |  |  | 25,171 |
Canada |  | 36,182 |  |  | 40,422 |  |  | 36,804 |
Other countries |  | 97,833 |  |  | 98,462 |  |  | 99,794 |
Consolidated total |  | $760,941 |  |  | $787,287 |  |  | $742,887 |
Property, plant and equipment, at cost, net |  |  |  |  |  |  |  |  |
United States |  | $137,405 |  |  | $133,651 |  |  | $140,601 |
China |  | 114,037 |  |  | 126,072 |  |  | 133,851 |
Korea |  | 38,266 |  |  | 34,102 |  |  | 40,473 |
Canada |  | 27,396 |  |  | 29,650 |  |  | 34,149 |
United Kingdom |  | 26,269 |  |  | 27,196 |  |  | 28,425 |
Sweden |  | 23,397 |  |  | 26,210 |  |  | 32,630 |
Other countries |  | 53,384 |  |  | 62,072 |  |  | 70,582 |
Consolidated total |  | $420,154 |  |  | $438,953 |  |  | $480,711 |

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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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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=6534315&loc=d3e8906-108599 Reference 3: 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=6534315&loc=d3e8933-108599 Reference 4: 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=6534315&loc=d3e8984-108599 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=6534315&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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: 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=6534315&loc=d3e9054-108599 Reference 8: 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=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: 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=6534315&loc=d3e8981-108599 Reference 11: 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=6534315&loc=d3e8971-108599 Reference 12: 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=6534315&loc=d3e8844-108599 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=6534315&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 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: 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=6534315&loc=d3e9038-108599 + Details
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