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Segment Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment Information

Note 13 – Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance.

The following tables present a summary of the Company’s reportable operating segments for the three months ended March 31, 2023 and 2022. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profit in inventory.

 

 

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

Net sales

 

 

 

 

 

 

PLP-USA

 

$

97,177

 

 

$

75,924

 

The Americas

 

 

22,568

 

 

 

18,963

 

EMEA

 

 

39,034

 

 

 

27,472

 

Asia-Pacific

 

 

23,045

 

 

 

15,864

 

Total net sales

 

$

181,824

 

 

$

138,223

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

PLP-USA

 

$

11,962

 

 

$

4,120

 

The Americas

 

 

4,213

 

 

 

2,714

 

EMEA

 

 

1,533

 

 

 

686

 

Asia-Pacific

 

 

7,009

 

 

 

6,684

 

Total intersegment sales

 

$

24,717

 

 

$

14,204

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

PLP-USA

 

$

42,106

 

 

$

26,264

 

The Americas

 

 

7,987

 

 

 

5,365

 

EMEA

 

 

9,247

 

 

 

6,374

 

Asia-Pacific

 

 

6,943

 

 

 

3,948

 

Total gross profit

 

$

66,283

 

 

$

41,951

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

PLP-USA

 

$

16,796

 

 

$

13,239

 

The Americas

 

 

1,889

 

 

 

(71

)

EMEA

 

 

1,661

 

 

 

282

 

Asia-Pacific

 

 

1,052

 

 

 

(1,165

)

Total net income attributable to Preformed Line Products Company shareholders

 

$

21,398

 

 

$

12,285