XML 42 R27.htm IDEA: XBRL DOCUMENT v3.6.0.2
Segment Information
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company's two operating product line segments are also the Company's reportable segments: Engineered Papers and Advanced Materials and Structures. The EP segment primarily produces cigarette papers including LIP papers, plug wrap papers and base tipping papers used to wrap various parts of a cigarette for sale to cigarette manufacturers and reconstituted tobacco leaf, or RTL, and wrapper and binder products for sale to cigarette and cigar manufacturers. The EP segment also includes commercial and industrial products such as lightweight printing and writing papers, battery separator paper, drinking straw wrap, filter paper and other specialized papers. The AMS segment primarily produces engineered resin-based rolled goods such as films, nets, and other non-wovens to for use in high-performance filtration, surface protection, medical, and industrial applications and consists of the operations of DelStar, the December 2014 acquisitions, and Argotec.
 
Information about Net Sales and Operating Profit

The Company primarily evaluates segment performance and allocates resources based on operating profit. Expense amounts not associated with segments are referred to as unallocated expenses.
($ in millions)
Net Sales
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
Engineered Papers
$
559.3

 
66.6
%
 
$
583.9

 
76.4
%
 
$
666.9

 
84.0
%
Advanced Materials & Structures
280.6

 
33.4

 
180.2

 
23.6

 
127.4

 
16.0

Consolidated
$
839.9

 
100.0
%
 
$
764.1

 
100.0
%
 
$
794.3

 
100.0
%

($ in millions)
Operating Profit
 
For the Years Ended December 31,
 
2016
 
2015
 
2014
Engineered Papers
$
138.0

 
130.0
 %
 
$
121.5

 
118.0
 %
 
$
124.5

 
117.3
 %
Advanced Materials & Structures
9.0

 
8.5

 
16.7

 
16.2

 
10.2

 
9.6

Unallocated
(40.9
)
 
(38.5
)
 
(35.2
)
 
(34.2
)
 
(28.6
)
 
(26.9
)
Consolidated
$
106.1

 
100.0
 %
 
$
103.0

 
100.0
 %
 
$
106.1

 
100.0
 %

($ in millions)
Segment Assets
 
December 31, 2016
 
December 31, 2015
 
December 31, 2014
Engineered Papers
$
505.1

 
$
507.3

 
$
611.9

Advanced Materials & Structures
569.3

 
648.4

 
320.1

Unallocated
99.3

 
134.3

 
253.0

Consolidated
$
1,173.7

 
$
1,290.0

 
$
1,185.0


($ in millions)
Capital Spending
Depreciation
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
Engineered Papers
$
17.6

 
$
12.5

 
$
26.1

 
$
22.3

 
$
25.6

 
$
31.0

Advanced Materials & Structures
10.1

 
11.2

 
8.7

 
7.1

 
5.5

 
3.9

Unallocated
0.1

 
0.5

 
0.3

 

 
(0.4
)
 
0.4

Consolidated
$
27.8

 
$
24.2

 
$
35.1

 
$
29.4

 
$
30.7

 
$
35.3



Information about Geographic Areas

Long-lived assets by geographic area as of year-end were as follows ($ in millions):
 
Long-Lived Assets
 
2016
 
2015
 
2014
United States
$
89.6

 
$
87.5

 
$
75.5

France
162.7

 
163.5

 
187.2

The Philippines

 

 
30.8

Brazil
23.7

 
20.1

 
27.8

Poland
20.0

 
23.6

 
29.0

Other foreign countries
15.8

 
15.9

 
15.5

Consolidated
$
311.8

 
$
310.6

 
$
365.8


For the geographic disclosure in the following table, net sales are attributed to geographic locations based on the location of the Company's direct customers ($ in millions):
 
Net Sales
 
2016
 
2015
 
2014
United States
$
372.2

 
$
310.7

 
$
263.7

Europe and the former Commonwealth of Independent States
253.2

 
261.2

 
304.6

Asia-Pacific (including China)
129.4

 
118.5

 
125.3

Latin America
47.4

 
34.6

 
54.9

Other foreign countries
37.7

 
39.1

 
45.8

Consolidated
$
839.9

 
$
764.1

 
$
794.3