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Segment Reporting | 6 Months Ended
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Jun. 30, 2012
Segment Reporting [Abstract] |
Segment Reporting | 10. We have four reportable segments, which include Film Products, Aluminum Extrusions, AFBS (formerly Therics, Inc.) and Other. There was no activity related to AFBS in the first six months of 2012 or 2011. Effective January 1, 2012, the operations of Bright View Technologies Corporation ("Bright View") were incorporated into Film Products to leverage research and development efforts and accelerate new product development. Prior year balances for Bright View have been reclassified to Film Products to conform with the current year presentation. The Other segment is now solely comprised of the operations of Falling Springs, LLC. Information by business segment is reported below. There are no accounting transactions between segments and no allocations to segments. Net sales (sales less freight) and operating profit from ongoing operations are the measures of sales and operating profit used by the chief operating decision maker for purposes of assessing performance. The following table presents net sales and operating profit by segment for the three and six month periods ended June 30, 2012 and 2011:
| Three Months | SixMonths
| Ended June 30 | Ended June 30
(In Thousands) | 2012 | 2011 | 2012 | 2011
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Film Products | $ | 150,226 |  | $ | 132,035 |  | $ | 303,925 |  | $ | 263,556 |
Aluminum Extrusions |  | 59,695 |  |  | 63,896 |  |  | 117,303 |  |  | 119,897 |
Other |  | 254 |  |  | 293 |  |  | 809 |  |  | 296 |
Total net sales |  | 210,175 |  |  | 196,224 |  |  | 422,037 |  |  | 383,749 |
Add back freight |  | 5,938 |  |  | 4,742 |  |  | 11,274 |  |  | 8,741 |
Sales as shown in the Consolidated Statements of Income | $ | 216,113 |  | $ | 200,966 |  | $ | 433,311 |  | $ | 392,490 |
Operating Profit (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Film Products: |  |  |  |  |  |  |  |  |  |  |  |
Ongoing operations | $ | 13,441 |  | $ | 12,794 |  | $ | 28,907 |  | $ | 28,387 |
Plant shutdowns, asset impairments, restructurings and other |  | (1,508 | ) |  | (1,084 | ) |  | (1,792 | ) |  | (1,084 | )
Aluminum Extrusions: |  |  |  |  |  |  |  |  |  |  |  |
Ongoing operations |  | 3,800 |  |  | 1,467 |  |  | 5,503 |  |  | 238 |
Plant shutdowns, asset impairments, restructurings and other |  | (1,086 | ) |  | 94 |  |  | (2,147 | ) |  | 62 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Ongoing operations |  | 8 |  |  | 34 |  |  | 184 |  |  | (168 | )
Total |  | 14,655 |  |  | 13,305 |  |  | 30,655 |  |  | 27,435 |
Interest income |  | 83 |  |  | 270 |  |  | 253 |  |  | 500 |
Interest expense |  | 1,017 |  |  | 361 |  |  | 2,024 |  |  | 716 |
Gain on investment accounted for under fair value method |  | 2,700 |  |  | - |  |  | 6,300 |  |  | - |
Stock option-based compensation costs |  | 315 |  |  | 516 |  |  | 761 |  |  | 1,007 |
Corporate expenses, net |  | 6,065 |  |  | 3,178 |  |  | 12,417 |  |  | 7,034 |
Income from continuining operations before income taxes |  | 10,041 |  |  | 9,520 |  |  | 22,006 |  |  | 19,178 |
Income taxes from continuing operations |  | 2,688 |  |  | 3,472 |  |  | 6,855 |  |  | 6,462 |
Income from continuing operations |  | 7,353 |  |  | 6,048 |  |  | 15,151 |  |  | 12,716 |
Loss from discontinued operations |  | - |  |  | (345 | ) |  | (4,800 | ) |  | (345 | )
Net income | $ | 7,353 |  | $ | 5,703 |  | $ | 10,351 |  | $ | 12,371 |
The following table presents identifiable assets by segment at June 30, 2012 and December 31, 2011:
| June 30, | December 31,
(In Thousands) | 2012 | 2011
Film Products | $ | 554,592 | $ | 574,571
Aluminum Extrusions |  | 79,160 |  | 78,661
Other |  | 21,168 |  | 17,520
Subtotal |  | 654,920 |  | 670,752
General corporate |  | 46,935 |  | 40,919
Cash and cash equivalents |  | 52,559 |  | 68,939
Total | $ | 754,414 | $ | 780,610

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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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