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Operating Segments and Geographic Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Operating Segments and Geographic Information | Operating Segment and Geographic InformationOur reporting structure is comprised of the following strategic operating segments: AES and EMS. The remaining operations, which represent our non-core businesses, are reported in the Other operating segment. We believe this structure aligns our external reporting presentation with how we currently manage and view our business internally. Operating Segment Information The following table presents a disaggregation of revenue from contracts with customers and other pertinent financial information, for the periods indicated; inter-segment sales have been eliminated from the net sales data:
(Dollars in thousands) | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
December 31, 2021 |  |  |  |  |  |  |
Net sales - recognized over time | $ | 244,016 |  |  | $ | 14,909 |  |  | $ | 18,838 |  |  | $ | 277,763 |
Net sales - recognized at a point in time | $ | 290,413 |  |  | $ | 363,108 |  |  | $ | 1,602 |  |  | $ | 655,123 |
Total net sales | $ | 534,429 |  |  | $ | 378,017 |  |  | $ | 20,440 |  |  | $ | 932,886 |
Operating income (loss) | $ | 50,198 |  |  | $ | 60,051 |  |  | $ | 6,933 |  |  | $ | 117,182 |
Total assets | $ | 826,719 |  |  | $ | 759,576 |  |  | $ | 12,271 |  |  | $ | 1,598,566 |
Capital expenditures | $ | 38,945 |  |  | $ | 31,777 |  |  | $ | 403 |  |  | $ | 71,125 |
Depreciation & amortization | $ | 22,936 |  |  | $ | 19,695 |  |  | $ | 653 |  |  | $ | 43,284 |
Investment in unconsolidated joint ventures | $ | — |  |  | $ | 16,328 |  |  | $ | — |  |  | $ | 16,328 |
Equity income in unconsolidated joint ventures | $ | — |  |  | $ | 7,032 |  |  | $ | — |  |  | $ | 7,032 |
December 31, 2020 |  |  |  |  |  |  |
Net sales - recognized over time | $ | 190,042 |  |  | $ | 10,614 |  |  | $ | 14,451 |  |  | $ | 215,107 |
Net sales - recognized at a point in time | $ | 268,637 |  |  | $ | 317,563 |  |  | $ | 1,276 |  |  | $ | 587,476 |
Total net sales | $ | 458,679 |  |  | $ | 328,177 |  |  | $ | 15,727 |  |  | $ | 802,583 |
Operating income (loss) | $ | 32,023 |  |  | $ | 30,817 |  |  | $ | 4,494 |  |  | $ | 67,334 |
Total assets | $ | 746,086 |  |  | $ | 504,199 |  |  | $ | 13,720 |  |  | $ | 1,264,005 |
Capital expenditures | $ | 23,689 |  |  | $ | 16,214 |  |  | $ | 482 |  |  | $ | 40,385 |
Depreciation & amortization | $ | 23,593 |  |  | $ | 47,159 |  |  | $ | 673 |  |  | $ | 71,425 |
Investment in unconsolidated joint ventures | $ | — |  |  | $ | 15,248 |  |  | $ | — |  |  | $ | 15,248 |
Equity income in unconsolidated joint ventures | $ | — |  |  | $ | 4,877 |  |  | $ | — |  |  | $ | 4,877 |
December 31, 2019 |  |  |  |  |  |  |
Net sales - recognized over time | $ | 197,702 |  |  | $ | 12,687 |  |  | $ | 18,112 |  |  | $ | 228,501 |
Net sales - recognized at a point in time | $ | 317,425 |  |  | $ | 348,916 |  |  | $ | 3,418 |  |  | $ | 669,759 |
Total net sales | $ | 515,127 |  |  | $ | 361,603 |  |  | $ | 21,530 |  |  | $ | 898,260 |
Operating income | $ | 47,217 |  |  | $ | 57,080 |  |  | $ | 6,184 |  |  | $ | 110,481 |
Total assets | $ | 681,161 |  |  | $ | 569,484 |  |  | $ | 22,536 |  |  | $ | 1,273,181 |
Capital expenditures | $ | 42,347 |  |  | $ | 8,550 |  |  | $ | 700 |  |  | $ | 51,597 |
Depreciation & amortization | $ | 28,527 |  |  | $ | 19,887 |  |  | $ | 748 |  |  | $ | 49,162 |
Investment in unconsolidated joint ventures | $ | — |  |  | $ | 16,461 |  |  | $ | — |  |  | $ | 16,461 |
Equity income in unconsolidated joint ventures | $ | — |  |  | $ | 5,319 |  |  | $ | — |  |  | $ | 5,319 |
Operating Segment Net Sales by Geographic Area The following table presents net sales by our operating segment operations by geographic area for the years indicated:
(Dollars in thousands) |  | Net Sales(1)
Region/Country |  | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
December 31, 2021 |  |  |  |  |  |  |  |
United States |  | $ | 93,584 |  |  | $ | 161,180 |  |  | $ | 4,508 |  |  | $ | 259,272 |
Other Americas |  | 3,107 |  |  | 10,226 |  |  | 755 |  |  | 14,088 |
Total Americas |  | 96,691 |  |  | 171,406 |  |  | 5,263 |  |  | 273,360 |
China |  | 193,422 |  |  | 122,000 |  |  | 4,773 |  |  | 320,195 |
Other APAC |  | 85,100 |  |  | 27,569 |  |  | 2,647 |  |  | 115,316 |
Total APAC |  | 278,522 |  |  | 149,569 |  |  | 7,420 |  |  | 435,511 |
Germany |  | 72,531 |  |  | 29,214 |  |  | 827 |  |  | 102,572 |
Other EMEA |  | 86,685 |  |  | 27,828 |  |  | 6,930 |  |  | 121,443 |
Total EMEA |  | 159,216 |  |  | 57,042 |  |  | 7,757 |  |  | 224,015 |
Total net sales |  | $ | 534,429 |  |  | $ | 378,017 |  |  | $ | 20,440 |  |  | $ | 932,886 |
December 31, 2020 |  |  |  |  |  |  |  |
United States |  | $ | 90,822 |  |  | $ | 128,347 |  |  | $ | 3,679 |  |  | $ | 222,848 |
Other Americas |  | 2,943 |  |  | 8,437 |  |  | 682 |  |  | 12,062 |
Total Americas |  | 93,765 |  |  | 136,784 |  |  | 4,361 |  |  | 234,910 |
China |  | 153,297 |  |  | 108,161 |  |  | 2,859 |  |  | 264,317 |
Other APAC |  | 70,830 |  |  | 43,364 |  |  | 2,162 |  |  | 116,356 |
Total APAC |  | 224,127 |  |  | 151,525 |  |  | 5,021 |  |  | 380,673 |
Germany |  | 70,881 |  |  | 19,118 |  |  | 410 |  |  | 90,409 |
Other EMEA |  | 69,906 |  |  | 20,750 |  |  | 5,935 |  |  | 96,591 |
Total EMEA |  | 140,787 |  |  | 39,868 |  |  | 6,345 |  |  | 187,000 |
Total net sales |  | $ | 458,679 |  |  | $ | 328,177 |  |  | $ | 15,727 |  |  | $ | 802,583 |
December 31, 2019 |  |  |  |  |  |  |  |
United States |  | $ | 95,627 |  |  | $ | 160,918 |  |  | $ | 4,507 |  |  | $ | 261,052 |
Other Americas |  | 3,713 |  |  | 9,208 |  |  | 913 |  |  | 13,834 |
Total Americas |  | 99,340 |  |  | 170,126 |  |  | 5,420 |  |  | 274,886 |
China |  | 193,518 |  |  | 95,653 |  |  | 6,086 |  |  | 295,257 |
Other APAC |  | 83,858 |  |  | 55,402 |  |  | 2,920 |  |  | 142,180 |
Total APAC |  | 277,376 |  |  | 151,055 |  |  | 9,006 |  |  | 437,437 |
Germany |  | 73,673 |  |  | 13,702 |  |  | 573 |  |  | 87,948 |
Other EMEA |  | 64,738 |  |  | 26,720 |  |  | 6,531 |  |  | 97,989 |
Total EMEA |  | 138,411 |  |  | 40,422 |  |  | 7,104 |  |  | 185,937 |
Total net sales |  | $ | 515,127 |  |  | $ | 361,603 |  |  | $ | 21,530 |  |  | $ | 898,260 |
(1) Net sales are allocated to countries based on the location of the customer. The table above lists individual countries with 10% or more of net sales for the periods indicated. Revenue from Contracts with Customers We manufacture some products to customer specifications which are customized to such a degree that it is unlikely that another entity would purchase these products or that we could modify these products for another customer. These products are deemed to have no alternative use to us whereby we have an enforceable right to payment evidenced by contractual termination clauses. In accordance with ASC 606, for those circumstances we recognize revenue on an over-time basis. Revenue recognition does not occur until the product meets the definition of “no alternative use” and therefore, items that have not yet reached that point in the production process are not included in the population of items with over-time revenue recognition. As appropriate, we record estimated reductions to revenue for customer returns, allowances, and warranty claims. Provisions for such reductions are made at the time of sale and are typically derived from historical trends and other relevant information. We had contract assets primarily related to unbilled revenue for revenue recognized related to products that are deemed to have no alternative use whereby we have the right to payment. Revenue is recognized in advance of billing to the customer in these circumstances as billing is typically performed at the time of shipment to the customer. The unbilled revenue is included in the contract assets on the consolidated statements of financial position. Our contract assets by operating segment were as follows:
| As of December 31,
(Dollars in thousands) | 2021 |  | 2020
Advanced Electronics Solutions | $ | 31,398 |  |  | $ | 24,199 |
Elastomeric Material Solutions | 2,082 |  |  | 887 |
Other | 3,130 |  |  | 1,489 |
Total contract assets | $ | 36,610 |  |  | $ | 26,575 |
We did not have any contract liabilities as of December 31, 2021 or 2020. No impairment losses were recognized in 2021, 2020 or 2019 on any receivables or contract assets arising from our contracts with customers. Long-Lived Assets by Geographic Area Our long-lived assets(1) by geographic area were as follows:
| As of December 31,
(Dollars in thousands) | 2021 |  | 2020
United States | $ | 454,531 |  |  | $ | 433,870 |
England | 188,859 |  |  | — |
Germany | 133,546 |  |  | 133,873 |
Other | 113,734 |  |  | 97,049 |
Total long-lived assets | $ | 890,670 |  |  | $ | 664,792 |
(1) Long-lived assets are based on the location of the asset and are comprised of goodwill, other intangible assets, property, plant and equipment and right-of-use assets. Countries with 10% of more of long-lived assets have been disclosed.

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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