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Segment Reporting | 3 Months Ended
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Mar. 31, 2016
Segment Reporting [Abstract] |
Segment Reporting | The Company’s business segments are PE Films, Flexible Packaging and Aluminum Extrusions. Information by business segment is reported below. Tredegar had historically reported two business segments: Film Products and Aluminum Extrusions. In 2015, the Company divided Film Products into two separate reportable segments: PE Films and Flexible Packaging Films. All historical results for PE Films and Flexible Packaging Films have been separately presented to conform with the new presentation of segments. 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-month periods ended March 31, 2016 and 2015:
| Three Months Ended March 31,
(In Thousands) | 2016 |  | 2015
Net Sales |  |  |
PE Films | $ | 88,481 |  |  | $ | 106,357 |
Flexible Packaging Films | 26,377 |  |  | 26,844 |
Aluminum Extrusions | 85,474 |  |  | 93,645 |
Total net sales | 200,332 |  |  | 226,846 |
Add back freight | 7,001 |  |  | 7,325 |
Sales as shown in the Consolidated Statements of Income | $ | 207,333 |  |  | $ | 234,171 |
Operating Profit |  |  |
PE Films: |  |  |
Ongoing operations | $ | 10,235 |  |  | $ | 16,832 |
Plant shutdowns, asset impairments, restructurings and other | (1,135 | ) |  | — |
Flexible Packaging Films: |  |  |
Ongoing operations | 2,032 |  |  | 785 |
Plant shutdowns, asset impairments, restructurings and other | — |  |  | 67 |
Aluminum Extrusions: |  |  |
Ongoing operations | 7,499 |  |  | 5,292 |
Plant shutdowns, asset impairments, restructurings and other | (7 | ) |  | (15 | )
Total | 18,624 |  |  | 22,961 |
Interest income | 37 |  |  | 89 |
Interest expense | 1,085 |  |  | 885 |
Gain on investment accounted for under fair value method | 800 |  |  | — |
Stock option-based compensation costs | (37 | ) |  | 300 |
Corporate expenses, net | 7,916 |  |  | 7,216 |
Income before income taxes | 10,497 |  |  | 14,649 |
Income taxes | 3,216 |  |  | 4,779 |
Net income | $ | 7,281 |  |  | $ | 9,870 |
The following table presents identifiable assets by segment at March 31, 2016 and December 31, 2015:
(In Thousands) | March 31, 2016 |  | December 31, 2015
PE Films | $ | 276,940 |  |  | $ | 270,236 |
Flexible Packaging Films | 155,000 |  |  | 146,253 |
Aluminum Extrusions | 135,726 |  |  | 136,935 |
Subtotal | 567,666 |  |  | 553,424 |
General corporate | 28,075 |  |  | 25,680 |
Cash and cash equivalents | 40,022 |  |  | 44,156 |
Total | $ | 635,763 |  |  | $ | 623,260 |

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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 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: 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=51669610&loc=d3e9038-108599 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=51669610&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 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: 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=51669610&loc=d3e8380-108599 Reference 6: 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=51669610&loc=d3e8933-108599 Reference 7: 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=51669610&loc=d3e8844-108599 Reference 8: 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=51669610&loc=d3e8984-108599 Reference 9: 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=51669610&loc=d3e9031-108599 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=51669610&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 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: 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=51669610&loc=d3e8864-108599 Reference 13: 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=51669610&loc=d3e8924-108599 Reference 14: 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=51669610&loc=d3e8906-108599 + Details
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