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Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

Note M - Segment Information

The Company designs, manufactures and sells hardware employed in the construction and maintenance of telecommunication, energy and other utility networks, data communication products and mounting hardware for solar power applications. Principal products include cable anchoring, control hardware and splice enclosures, which are sold primarily to customers in North and South America, Europe, South Africa and Asia-Pacific.

The Company reports its segments in four geographic regions: PLP-USA, The Americas, EMEA (Europe, Middle East & Africa) and Asia-Pacific in accordance with accounting standards codified in Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 280, “Segment Reporting”.  Each segment distributes a full range of the Company’s primary products.  The PLP-USA segment is comprised of U.S. operations manufacturing the Company’s traditional products primarily supporting domestic energy, telecommunications and solar products.  The other three segments, The Americas, EMEA and Asia-Pacific support the Company’s energy, telecommunications, data communication and solar products in each respective geographical region.

The segment managers responsible for each region report directly to the Company’s Chief Executive Officer, who is the chief operating decision maker and are accountable for the financial results and performance of their entire segment for which they are responsible.  The business components within each segment are managed to maximize the results of the entire company rather than the results of any individual business component of the segment.

The amount of each segment’s performance reported to the chief operating decision maker is for purposes of making decisions about allocating resources to the segment and assessing its performance.  The Company evaluates segment performance and allocates resources based on several factors primarily based on sales and income from continuing operations, net of tax.

The accounting policies of the operating segments are the same as those described in Note A in the Notes to Consolidated Financial Statements. No single customer accounts for more than ten percent of the Company’s consolidated revenue.  U.S. net sales for the year ended December 31, 2019, 2018, and 2017 were $178.3 million, $169.0 million and $147.6 million, respectively.  U.S. long-lived assets as of December 31, 2019 and 2018 were $51.1 million and $51.5 million, respectively.

The following table presents a summary of the Company’s reportable segments for the year ended December 31, 2019, 2018 and 2017. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profits in inventory.  

		Year Ended December 31
		2019				2018				2017
Net sales
PLP-USA		$	178,301			$	169,040			$	147,646
The Americas			68,293				66,868				69,764
EMEA			79,158				69,773				63,916
Asia-Pacific			119,109				115,197				96,886
Total net sales		$	444,861			$	420,878			$	378,212
Intersegment sales
PLP-USA		$	10,757			$	11,648			$	12,234
The Americas			7,774				9,480				5,570
EMEA			1,375				1,664				1,120
Asia-Pacific			12,720				11,907				8,596
Total intersegment sales		$	32,626			$	34,699			$	27,520
Interest income
PLP-USA		$	0			$	0			$	0
The Americas			412				273				283
EMEA			192				102				47
Asia-Pacific			179				111				100
Total interest income		$	783			$	486			$	430
Interest expense
PLP-USA		$	(972	)		$	(1,023	)		$	(941	)
The Americas			(466	)			(111	)			(10	)
EMEA			(149	)			(58	)			(31	)
Asia-Pacific			(630	)			(98	)			(79	)
Total interest expense		$	(2,217	)		$	(1,290	)		$	(1,061	)
Income taxes
PLP-USA		$	3,299			$	367			$	7,142
The Americas			2,551				3,349				3,593
EMEA			616				1,204				1,583
Asia-Pacific			1,656				1,087				834
Total income taxes		$	8,122			$	6,007			$	13,152
Net income (loss) attributable to Preformed Line Products Company shareholders
PLP-USA		$	8,054			$	9,900			$	(2,367	)
The Americas			6,657				8,479				8,169
EMEA			2,935				3,527				4,088
Asia-Pacific			5,657				4,675				2,764
Total net income		$	23,303			$	26,581			$	12,654

		Year Ended December 31
		2019				2018				2017
Expenditure for long-lived assets
PLP-USA		$	4,928			$	3,672			$	4,474
The Americas			2,864				1,746				1,272
EMEA			5,304				1,591				2,329
Asia-Pacific			16,371				2,519				3,158
Total expenditures for long-lived assets		$	29,467			$	9,528			$	11,233
Depreciation and amortization
PLP-USA		$	5,393			$	5,452			$	5,389
The Americas			1,862				1,488				1,985
EMEA			2,528				1,808				1,678
Asia-Pacific			3,965				3,696				3,738
Total depreciation and amortization		$	13,748			$	12,444			$	12,790

		As of December 31
		2019				2018
Identifiable assets
PLP-USA		$	127,428			$	118,171
The Americas			71,908				69,764
EMEA			97,126				57,263
Asia-Pacific			137,109				113,599
Total identifiable assets		$	433,571			$	358,797
Long-lived assets
PLP-USA		$	51,097			$	51,506
The Americas			15,874				14,847
EMEA			16,419				11,768
Asia-Pacific			40,628				24,834
Total long-lived assets		$	124,018			$	102,955

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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