Segment And Geographic Information

9 Months Ended

Sep. 30, 2018

Segment And Geographic Information [Abstract]

Note 12 – Segment and Geographic Information

The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. Intersegment sales are generally recorded at prices that approximate arm’s length transactions. Operating segments’ measure of profitability is based on income from operations. The accounting policies for the reportable operating segments are the same as for the Company taken as a whole. The Company has three reportable operating segments: Americas, Asia and Europe. Information about operating segments is as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(in thousands)			2018		2017		2018		2017
				(as adjusted)				(as adjusted)
Net sales:
	Americas	$	404,137	$	379,417	$	1,217,200	$	1,146,171
	Asia		210,153		208,207		602,903		581,991
	Europe		43,054		43,826		140,205		127,480
	Elimination of intersegment sales		(16,656)		(20,521)		(50,893)		(67,199)
		$	640,688	$	610,929	$	1,909,415	$	1,788,443

Depreciation and amortization:
	Americas	$	5,746	$	5,679	$	17,171	$	16,599
	Asia		2,967		2,882		8,660		9,021
	Europe		860		705		2,644		2,041
	Corporate		4,987		3,008		11,168		8,930
		$	14,560	$	12,274	$	39,643	$	36,591

Income from operations:
	Americas	$	9,586	$	15,046	$	41,845	$	46,823
	Asia		18,963		21,477		53,441		55,314
	Europe		2,242		2,551		7,437		7,430
	Corporate and intersegment eliminations		(19,834)		(18,171)		(59,450)		(54,651)
		$	10,957	$	20,903	$	43,273	$	54,916
Other income (expense):
	Interest expense		(3,822)		(2,324)		(8,543)		(6,861)
	Interest income		1,619		1,334		5,197		3,621
	Other expense		1,139		(394)		827		(1,305)
	Income before income taxes	$	9,893	$	19,519	$	40,754	$	50,371

Capital expenditures:
	Americas	$	8,975	$	8,548	$	34,369	$	17,584
	Asia		3,898		1,696		12,548		12,820
	Europe		651		638		2,303		4,018
	Corporate		1,046		475		3,713		3,314
		$	14,570	$	11,357	$	52,933	$	37,736

		September 30,		December 31,
(in thousands)			2018		2017
				(as adjusted)
Total assets:
	Americas	$	848,998	$	812,187
	Asia		548,571		674,783
	Europe		144,352		470,786
	Corporate and other		398,850		151,548
		$	1,940,771	$	2,109,304

Geographic net sales information reflects the destination of the product shipped. Long-lived assets information is based upon the physical location of the asset.

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(in thousands)			2018		2017		2018		2017
				(as adjusted)				(as adjusted)
Geographic net sales:
	United States	$	438,461	$	403,233	$	1,280,026	$	1,187,333
	Asia		105,422		114,302		328,327		324,224
	Europe		69,289		71,718		222,870		218,338
	Other Foreign		27,516		21,676		78,192		58,548
		$	640,688	$	610,929	$	1,909,415	$	1,788,443

						September 30,		December 31,
							2018		2017
Long-lived assets:
	United States					$	186,557	$	167,858
	Asia						79,351		77,750
	Europe						10,336		11,042
	Other						24,525		25,830
						$	300,769	$	282,480