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Segment Information
 12 Months Ended
Dec. 31, 2020
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, 2020, 2019, and 2018 were $201.3 million, $178.3 million and $169.0 million, respectively.  U.S. long-lived assets as of December 31, 2020 and 2019 were $44.2 million and $51.1 million, respectively.

The following table presents a summary of the Company’s reportable segments for the year ended December 31, 2020, 2019 and 2018. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profits in inventory.  

 

 

 

Year Ended December 31

 

 

 

2020

 

 

2019

 

 

2018

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

201,277

 

 

$

178,301

 

 

$

169,040

 

The Americas

 

 

74,192

 

 

 

68,293

 

 

 

66,868

 

EMEA

 

 

91,108

 

 

 

79,158

 

 

 

69,773

 

Asia-Pacific

 

 

99,872

 

 

 

119,109

 

 

 

115,197

 

Total net sales

 

$

466,449

 

 

$

444,861

 

 

$

420,878

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

9,702

 

 

$

10,757

 

 

$

11,648

 

The Americas

 

 

9,938

 

 

 

7,774

 

 

 

9,480

 

EMEA

 

 

3,682

 

 

 

1,375

 

 

 

1,664

 

Asia-Pacific

 

 

14,452

 

 

 

12,720

 

 

 

11,907

 

Total intersegment sales

 

$

37,774

 

 

$

32,626

 

 

$

34,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

0

 

 

$

0

 

 

$

0

 

The Americas

 

 

112

 

 

 

412

 

 

 

273

 

EMEA

 

 

67

 

 

 

192

 

 

 

102

 

Asia-Pacific

 

 

80

 

 

 

179

 

 

 

111

 

Total interest income

 

$

259

 

 

$

783

 

 

$

486

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

(741

)

 

$

(972

)

 

$

(1,023

)

The Americas

 

 

(586

)

 

 

(466

)

 

 

(111

)

EMEA

 

 

(233

)

 

 

(149

)

 

 

(58

)

Asia-Pacific

 

 

(836

)

 

 

(630

)

 

 

(98

)

Total interest expense

 

$

(2,396

)

 

$

(2,217

)

 

$

(1,290

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

6,161

 

 

$

3,299

 

 

$

367

 

The Americas

 

 

2,461

 

 

 

2,551

 

 

 

3,349

 

EMEA

 

 

1,768

 

 

 

616

 

 

 

1,204

 

Asia-Pacific

 

 

420

 

 

 

1,656

 

 

 

1,087

 

Total income taxes

 

$

10,810

 

 

$

8,122

 

 

$

6,007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

16,564

 

 

$

8,054

 

 

$

9,900

 

The Americas

 

 

5,068

 

 

 

6,657

 

 

 

8,479

 

EMEA

 

 

6,644

 

 

 

2,935

 

 

 

3,527

 

Asia-Pacific

 

 

1,527

 

 

 

5,657

 

 

 

4,675

 

Total net income

 

$

29,803

 

 

$

23,303

 

 

$

26,581

 

 

 

 

 

Year Ended December 31

 

 

 

2020

 

 

2019

 

 

2018

 

Expenditure for long-lived assets

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

9,536

 

 

$

4,928

 

 

$

3,672

 

The Americas

 

 

3,527

 

 

 

2,864

 

 

 

1,746

 

EMEA

 

 

3,007

 

 

 

5,304

 

 

 

1,591

 

Asia-Pacific

 

 

8,499

 

 

 

16,371

 

 

 

2,519

 

Total expenditures for long-lived assets

 

$

24,569

 

 

$

29,467

 

 

$

9,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

5,321

 

 

$

5,393

 

 

$

5,452

 

The Americas

 

 

1,710

 

 

 

1,862

 

 

 

1,488

 

EMEA

 

 

2,797

 

 

 

2,528

 

 

 

1,808

 

Asia-Pacific

 

 

4,010

 

 

 

3,965

 

 

 

3,696

 

Total depreciation and amortization

 

$

13,838

 

 

$

13,748

 

 

$

12,444

 

 

 

 

As of December 31

 

 

 

2020

 

 

2019

 

Identifiable assets

 

 

 

 

 

 

 

 

PLP-USA

 

$

137,689

 

 

$

127,428

 

The Americas

 

 

75,438

 

 

 

71,908

 

EMEA

 

 

106,922

 

 

 

97,126

 

Asia-Pacific

 

 

141,038

 

 

 

137,109

 

Total identifiable assets

 

$

461,087

 

 

$

433,571

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment

 

 

 

 

 

 

 

 

PLP-USA

 

$

44,184

 

 

$

51,097

 

The Americas

 

 

16,507

 

 

 

15,874

 

EMEA

 

 

18,362

 

 

 

16,419

 

Asia-Pacific

 

 

46,912

 

 

 

40,628

 

Total property, plant and equipment

 

$

125,965

 

 

$

124,018