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Segment Reporting

12 Months Ended

Dec. 31, 2018

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Reporting

Segment Reporting

We previously operated two reportable business segments, Industrial Materials and Engineered Solutions. During the second quarter of 2016 the Company decided to sell the businesses that comprised our Engineered Solutions segment to focus on our Industrial Materials segment. Accordingly, the Engineered Solutions business qualified as held for sale status and the related results have been excluded from continuing operations. See Note 3 "Discontinued Operations and Related Assets Held for Sale" for significant components of the results of our Engineered Solutions segment.

Our Industrial Materials segment manufactures high quality graphite electrodes essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. Petroleum needle coke, a crystalline form of carbon derived from decant oil, is the primary raw material used in the production of graphite electrodes. We utilize substantially all the needle coke that we produce internally to manufacture our graphite electrodes and as a result more than 95% of our revenues from external customers are derived from the sale of graphite electrodes and graphite electrode by-products from our manufacturing processes.

In 2018, one customer accounted for more than 10% of our net sales. Due to the increased demand for our products, we believe this customer does not pose a significant concentration of risk, as sales to this customer could be replaced by demand from other customers.

The following tables summarize information as to our continuing operations in different geographic areas.

	2018				2017				2016
	(Dollars in thousands)
Net sales:
U.S.	$	429,599			$	103,890			$	74,526
Americas	367,561				129,103				116,944
Asia Pacific	131,578				46,329				41,302
Europe, Middle East, Africa	967,172				271,449				205,191
Total	$	1,895,910			$	550,771			$	437,963

	At December 31,
	2018				2017
	(Dollars in thousands)
Long-lived assets (a):
U.S.	$	169,301			$	177,298
Mexico	146,790				147,959
Brazil	3,320				3,547
France	91,022				80,035
Spain	103,121				103,819
Other countries	151				183
Total	$	513,705			$	512,841

(a) Long-lived assets represent fixed assets, net of accumulated depreciation.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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- References

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