XML 31 R21.htm IDEA: XBRL DOCUMENT v3.23.2
Segment Information
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2023 and 2022. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profit in inventory.

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

2023

 

 

2022

 

2023

 

 

2022

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

96,977

 

 

$

83,422

 

$

194,155

 

 

$

159,347

 

The Americas

 

 

 

21,494

 

 

 

22,436

 

 

44,061

 

 

 

41,399

 

EMEA

 

 

 

37,306

 

 

 

32,845

 

 

76,340

 

 

 

60,317

 

Asia-Pacific

 

 

 

26,036

 

 

 

24,768

 

 

49,081

 

 

 

40,631

 

Total net sales

 

 

$

181,813

 

 

$

163,471

 

$

363,637

 

 

$

301,694

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

9,013

 

 

$

6,830

 

$

20,975

 

 

$

10,950

 

The Americas

 

 

 

4,296

 

 

 

4,142

 

 

8,509

 

 

 

6,857

 

EMEA

 

 

 

1,423

 

 

 

884

 

 

2,956

 

 

 

1,570

 

Asia-Pacific

 

 

 

6,094

 

 

 

8,064

 

 

13,103

 

 

 

14,748

 

Total intersegment sales

 

 

$

20,826

 

 

$

19,920

 

$

45,543

 

 

$

34,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

41,234

 

 

$

29,940

 

$

83,341

 

 

$

56,204

 

The Americas

 

 

 

8,198

 

 

 

7,967

 

 

16,185

 

 

 

13,332

 

EMEA

 

 

 

9,518

 

 

 

7,958

 

 

18,765

 

 

 

14,332

 

Asia-Pacific

 

 

 

7,377

 

 

 

6,841

 

 

14,320

 

 

 

10,789

 

Total gross profit

 

 

$

66,327

 

 

$

52,706

 

$

132,611

 

 

$

94,657

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

 

 

PLP-USA

 

 

$

14,887

 

 

$

9,360

 

$

31,683

 

 

$

22,602

 

The Americas

 

 

 

2,750

 

 

 

2,637

 

 

4,639

 

 

 

2,566

 

EMEA

 

 

 

1,876

 

 

 

1,293

 

 

3,537

 

 

 

1,576

 

Asia-Pacific

 

 

 

959

 

 

 

422

 

 

2,011

 

 

 

(747

)

Total net income attributable to Preformed Line Products Company shareholders

 

 

$

20,472

 

 

$

13,712

 

$

41,870

 

 

$

25,997