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Segment Reporting | 9 Months Ended
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Sep. 30, 2013
Segment Reporting [Abstract] |
Segment Reporting |
11. | Our primary business segments are Film Products and Aluminum Extrusions. In February 2010, we started reporting an additional segment, Other, comprised of the start-up operations of Bright View Technologies Corporation ("Bright View") and Falling Springs. Effective January 1, 2012, the operations and results of Bright View were incorporated into Film Products to leverage research and development efforts and accelerate new product development. As discussed in Note 3, Falling Springs was divested in the fourth quarter of 2012. All historical results for this business have been reflected as discontinued operations. With the sale of Falling Springs, there is no longer an Other segment to report.
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 nine month periods ended September 30, 2013 and 2012:
|  | Three Months |  |  | Nine Months |
|  | Ended September 30 |  |  | Ended September 30 |
(In Thousands) |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Film Products | $ | 157,187 |  | $ | 155,296 |  | $ | 469,838 |  | $ | 459,221 |
AluminumExtrusions |  | 78,499 |  |  | 55,222 |  |  | 236,293 |  |  | 172,525 |
Total net sales |  | 235,686 |  |  | 210,518 |  |  | 706,131 |  |  | 631,746 |
Add back freight |  | 7,508 |  |  | 6,130 |  |  | 22,119 |  |  | 17,404 |
Sales as shown in the Consolidated Statements of Income |  | 243,194 |  |  | 216,648 |  |  | 728,250 |  |  | 649,150 |
Operating Profit |  |  |  |  |  |  |  |  |  |  |  |
Film Products: |  |  |  |  |  |  |  |  |  |  |  |
Ongoing operations |  | 19,617 |  |  | 21,092 |  |  | 55,351 |  |  | 49,999 |
Plant shutdowns, asset impairments, restructurings and other |  | (155 | ) |  | (87 | ) |  | (364 | ) |  | (1,879 | )
AluminumExtrusions: |  |  |  |  |  |  |  |  |  |  |  |
Ongoing operations |  | 3,426 |  |  | 1,846 |  |  | 12,351 |  |  | 7,349 |
Plant shutdowns, asset impairments, restructurings and other |  | (160 | ) |  | (1,067 | ) |  | (958 | ) |  | (3,214 | )
Total |  | 22,728 |  |  | 21,784 |  |  | 66,380 |  |  | 52,255 |
Interest income |  | 138 |  |  | 84 |  |  | 307 |  |  | 337 |
Interest expense |  | 727 |  |  | 708 |  |  | 2,132 |  |  | 2,732 |
Gain (loss) on investment accounted for under fair value method |  | (3,100 | ) |  | 2,700 |  |  | 100 |  |  | 9,000 |
Unrealized loss on investment property |  | - |  |  | - |  |  | 1,018 |  |  | - |
Stock option-based compensation costs |  | 260 |  |  | 386 |  |  | 859 |  |  | 1,147 |
Corporate expenses, net |  | 8,414 |  |  | 4,788 |  |  | 24,058 |  |  | 17,060 |
Income from continuining operations before income taxes |  | 10,365 |  |  | 18,686 |  |  | 38,720 |  |  | 40,653 |
Income taxes from continuing operations |  | 2,937 |  |  | 4,476 |  |  | 12,185 |  |  | 11,318 |
Income from continuing operations |  | 7,428 |  |  | 14,210 |  |  | 26,535 |  |  | 29,335 |
Loss from discontinued operations |  | (450 | ) |  | (6,783 | ) |  | (13,990 | ) |  | (11,557 | )
Net income | $ | 6,978 |  | $ | 7,427 |  | $ | 12,545 |  | $ | 17,778 |
The following table presents identifiable assets by segment at September 30, 2013 and December 31, 2012:
|  | September 30, |  | December 31,
(In Thousands) |  | 2013 |  | 2012
Film Products | $ | 572,681 | $ | 551,842
Aluminum Extrusions |  | 129,005 |  | 129,279
Subtotal |  | 701,686 |  | 681,121
General corporate |  | 49,004 |  | 53,222
Cash and cash equivalents |  | 42,604 |  | 48,822
Total | $ | 793,294 | $ | 783,165

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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 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: 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 3: 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 4: 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 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 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 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: 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 11: 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 Reference 12: 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 13: 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 14: 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 + Details
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