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SEGMENT INFORMATION (TAT Technologies Ltd [Member]) | 12 Months Ended
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Dec. 31, 2011
TAT Technologies Ltd [Member] |
SEGMENT INFORMATION |
NOTE 17 - | SEGMENT INFORMATION
| a. | Segment Activities Disclosure:
TAT operates under four segments: (i) Original Equipment Manufacturing or "OEM" of Heat Management Solutions (ii) Heat Transfer Services and Products (iii) Maintenance, Repair and Overhaul or "MRO" services for Aviation Components and (iv) OEM of Electric Motion Systems. Until December 31, 2010, TAT operated under three segments. As of January 1, 2011, TAT began reporting its operations based on four operating segments, after dividing its MRO Services operating segment into two separate segments: Heat Transfer Services and Products; and MRO services for Aviation Components. Accordingly, the revenues and costs reported for the year ended December 31, 2010 and 2009 for MRO Services operating segment were divided between these two new operating segments. Additionally, the operating segment name of 'OEM of Heat Transfer Products' was changed to 'OEM of Heat Management Solutions'.
| - | OEM of Heat Management Solutions primarily includes the design, development, manufacture and sale of (i) a broad range of heat transfer components (such as heat exchangers, pre-coolers and oil/fuel hydraulic coolers) used in mechanical and electronic systems on-board commercial, military and business aircraft; (ii) environmental control and cooling systems on board aircraft and for ground applications; and (iii) a variety of other electronic and mechanical aircraft accessories and systems such as pumps, valves, power systems and turbines.
| - | Heat Transfer Services and Products primarily includes the maintenance, repair and overhaul of heat transfer equipment and in a lesser extent, the manufacturing of certain heat transfer products. TAT's Limco subsidiary operates an FAA certified repair station, which provides heat transfer MRO services and products for airlines, air cargo carriers, maintenance service centers and the military.
| - | MRO services for Aviation Components primarily includes the maintenance, repair and overhaul of APUs, landing gear and other aircraft components. TAT's Piedmont subsidiary operates an FAA certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
| - | OEM of Electric Motion Systems primarily includes the design, development, manufacture and sale of a broad range of electrical motor applications for airborne and ground systems.
The Group's chief operating decision-maker (CEO of the Company) evaluates performance, makes operating decisions and allocates resources based on financial data consistent with the presentation in the accompanying financial statements. TAT evaluates segment performance based on revenue and operating income. The operating income reported in TAT's segments excludes other unallocated amounts. Although such amounts are excluded from the business segment results, they are included in reported consolidated earnings. Unallocated amounts include executive level expenses and certain expenses related to accounting and finance, human resources and information technology departments. During 2005 through December 1, 2009, TAT managed also another segment - the Parts segment, which focused on sales of parts of APU's, propellers, landing gears and other aviation components. This segment was transferred as a part of the transaction mentioned in note 3(b). The OEM of electrical motion systems segment was added with the consolidation of Bental, following its acquisition on August 18, 2008.
| b. | Segments statement operations disclosure:
The following financial information is the information that management uses for analyzing the segment results. The figures are presented in consolidated method as presented to management. The following financial information is a summary of the operating income of each operational segment:
|  | Year ended December 31, 2011 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Amounts not allocated to segments |  |  | Elimination from inter companies sale |  |  | Consolidated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of products and services |  | $ | 25,993 |  |  | $ | 11,658 |  |  | $ | 27,600 |  |  | $ | 20,146 |  |  | $ | - |  |  | $ | - |  |  | $ | 85,397 |
Intersegment revenues |  |  | 4,027 |  |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | (4,030 | ) |  |  | - |
Total revenues |  |  | 30,020 |  |  |  | 11,658 |  |  |  | 27,603 |  |  |  | 20,146 |  |  |  | - |  |  |  | (4,030 | ) |  |  | 85,397 |
Cost of revenues |  |  | 22,660 |  |  |  | 9,388 |  |  |  | 20,173 |  |  |  | 17,882 |  |  |  | - |  |  |  | (3,884 | ) |  |  | 66,219 |
Write down of inventory and impairment charges of long lived assets |  |  | - |  |  |  | 298 |  |  |  | - |  |  |  | 5,465 |  |  |  | - |  |  |  | - |  |  |  | 5,763 |
Gross profit |  |  | 7,360 |  |  |  | 1,972 |  |  |  | 7,430 |  |  |  | (3,201 | ) |  |  | - |  |  |  | (146 | ) |  |  | 13,415 |
Research and development expenses |  |  | 455 |  |  |  | 331 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 786 |
Selling and marketing expenses |  |  | 1,203 |  |  |  | 619 |  |  |  | 1,026 |  |  |  | 591 |  |  |  | - |  |  |  | - |  |  |  | 3,439 |
General and administrative expenses |  |  | 3,787 |  |  |  | 1,501 |  |  |  | 2,574 |  |  |  | 2,029 |  |  |  | 1,058 |  |  |  | - |  |  |  | 10,949 |
Other expense (income) |  |  | (190 | ) |  |  | 21 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (169 | )
Operating income (loss) |  |  | 2,105 |  |  |  | (500 | ) |  |  | 3,830 |  |  |  | (5,821 | ) |  |  | (1,058 | ) |  |  | (146 | ) |  |  | (1,590 | )
Financial expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (380 | ) |  |  | - |  |  |  | (380 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,970 | )
|  | Year ended December 31, 2010 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Amounts not allocated to segments |  |  | Elimination from inter companies sale |  |  | Consolidated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of products and services |  | $ | 26,012 |  |  | $ | 13,046 |  |  | $ | 24,365 |  |  | $ | 16,332 |  |  | $ | - |  |  | $ | - |  |  | $ | 79,755 |
Intersegment revenues |  |  | 3,639 |  |  |  | - |  |  |  | 104 |  |  |  | - |  |  |  | - |  |  |  | (3,743 | ) |  |  | - |
Total revenues |  |  | 29,651 |  |  |  | 13,046 |  |  |  | 24,469 |  |  |  | 16,332 |  |  |  | - |  |  |  | (3,743 | ) |  |  | 79,755 |
Cost of revenues |  |  | 22,425 |  |  |  | 10,092 |  |  |  | 18,005 |  |  |  | 14,631 |  |  |  | - |  |  |  | (3,965 | ) |  |  | 61,188 |
Write down of inventory |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,500 |  |  |  | - |  |  |  | - |  |  |  | 3,500 |
Gross profit |  |  | 7,226 |  |  |  | 2,954 |  |  |  | 6,464 |  |  |  | (1,799 | ) |  |  | - |  |  |  | 222 |  |  |  | 15,067 |
Research and development expenses |  |  | 274 |  |  |  | 377 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 651 |
Selling and marketing expenses |  |  | 1,186 |  |  |  | 526 |  |  |  | 1,014 |  |  |  | 749 |  |  |  | - |  |  |  | - |  |  |  | 3,475 |
General and administrative expenses |  |  | 3,598 |  |  |  | 1,572 |  |  |  | 2,049 |  |  |  | 4,413 |  |  |  | 1,200 |  |  |  | - |  |  |  | 12,832 |
Impairment of goodwill and intangible assets |  |  | - |  |  |  | - |  |  |  | 456 |  |  |  | 4,248 |  |  |  | - |  |  |  | - |  |  |  | 4,704 |
Operating income (loss) |  |  | 2,168 |  |  |  | 479 |  |  |  | 2,945 |  |  |  | (11,209 | ) |  |  | (1,200 | ) |  |  | 222 |  |  |  | (6,595 | )
Financial expense, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (111 | ) |  |  | - |  |  |  | (111 | )
Other expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (200 | ) |  |  | - |  |  |  | (200 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (6,906 | )
|  | Year ended December 31, 2009 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Parts (*) |  |  | Amounts not allocated to segments |  |  | Eliminaetion from inter companies sale |  |  | Consolidated |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of products and services |  | $ | 24,090 |  |  | $ | 11,321 |  |  | $ | 16,835 |  |  | $ | 24,788 |  |  | $ | 6,057 |  |  | $ | - |  |  | $ | - |  |  | $ | 83,091 |
Intersegment revenues |  |  | 4,527 |  |  |  | - |  |  |  | 660 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,187 | ) |  |  | - |
Total revenues |  |  | 28,617 |  |  |  | 11,321 |  |  |  | 17,495 |  |  |  | 24,788 |  |  |  | 6,057 |  |  |  | - |  |  |  | (5,187 | ) |  |  | 83,091 |
Cost of revenues |  |  | 19,809 |  |  |  | 8,021 |  |  |  | 20,173 |  |  |  | 17,727 |  |  |  | 5,879 |  |  |  | - |  |  |  | (4,714 | ) |  |  | 66,895 |
Gross profit |  |  | 8,808 |  |  |  | 3,300 |  |  |  | (2,678 | ) |  |  | 7,061 |  |  |  | 178 |  |  |  | - |  |  |  | (473 | ) |  |  | 16,196 |
Research and development expenses |  |  | 408 |  |  |  | 272 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 680 |
Selling and marketing expenses |  |  | 1,063 |  |  |  | 629 |  |  |  | 441 |  |  |  | 1,227 |  |  |  | 359 |  |  |  | - |  |  |  | - |  |  |  | 3,719 |
General and administrative expenses |  |  | 3,767 |  |  |  | 1,176 |  |  |  | 2,417 |  |  |  | 3,779 |  |  |  | 516 |  |  |  | 3,324 |  |  |  | - |  |  |  | 14,979 |
Capital gain |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4,400 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (4,400 | )
Operating income (loss) |  |  | 3,570 |  |  |  | 1,223 |  |  |  | (5,536 | ) |  |  | 6,455 |  |  |  | (697 | ) |  |  | (3,324 | ) |  |  | (473 | ) |  |  | 1,218 |
Financial income, net |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 149 |  |  |  | - |  |  |  | 149 |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,367 |
| (*) | For the period of January 1, 2009 through November 30, 2009.
| c. | The following financial information identifies the assets to segment:
|  | As of December 31, 2011 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Amounts not allocated to segments |  |  | Consolidated |
Assets |  | $ | 33,984 |  |  | $ | 12,890 |  |  | $ | 26,654 |  |  | $ | 20,380 |  |  | $ | 19,783 |  |  | $ | 113,691 |
Depreciation and amortization |  |  | 1,137 |  |  |  | 653 |  |  |  | 756 |  |  |  | 721 |  |  |  | - |  |  |  | 3,267 |
Expenditure for segment assets |  |  | 924 |  |  |  | 352 |  |  |  | 638 |  |  |  | 1,391 |  |  |  | - |  |  |  | 3,305 |
Goodwill |  |  | - |  |  |  | 1,042 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,042 |
|  | As of December 31, 2010 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Amounts not allocated to segments |  |  | Consolidated |
Assets |  | $ | 36,949 |  |  | $ | 17,501 |  |  | $ | 21,559 |  |  | $ | 23,588 |  |  | $ | 21,830 |  |  | $ | 121,427 |
Depreciation and amortization |  |  | 1,220 |  |  |  | 671 |  |  |  | 704 |  |  |  | 787 |  |  |  | - |  |  |  | 3,382 |
Expenditure for segment assets |  |  | 739 |  |  |  | 826 |  |  |  | 625 |  |  |  | 896 |  |  |  | - |  |  |  | 3,086 |
Goodwill |  |  | - |  |  |  | 1,156 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,156 |
|  | As of December 31, 2009 |
|  | OEM of Heat Management Solutions |  |  | OEM - Electric Motion Systems |  |  | Heat Transfer Services and Products |  |  | MRO services for Aviation Components |  |  | Amounts not allocated to segments |  |  | Consolidated |
Assets |  | $ | 38,354 |  |  | $ | 13,888 |  |  | $ | 17,998 |  |  | $ | 33,222 |  |  | $ | 21,029 |  |  | $ | 124,491 |
Depreciation and amortization |  |  | 1,050 |  |  |  | 507 |  |  |  | 756 |  |  |  | 657 |  |  |  | - |  |  |  | 2,970 |
Expenditure for segment assets |  |  | 846 |  |  |  | 960 |  |  |  | 563 |  |  |  | 2,489 |  |  |  | - |  |  |  | 4,858 |
Goodwill |  |  | - |  |  |  | 1,055 |  |  |  | 456 |  |  |  | 3,800 |  |  |  | - |  |  |  | 5,311 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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