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Segment Reporting
 3 Months Ended
Mar. 31, 2017
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. 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, 2017 and 2016:
 
Three Months Ended March 31,
(In Thousands)
2017
 
2016
Net Sales
 
 
 
PE Films
$
86,411

 
$
88,481

Flexible Packaging Films
26,710

 
26,377

Aluminum Extrusions
99,599

 
85,474

Total net sales
212,720

 
200,332

Add back freight
8,306

 
7,001

Sales as shown in the Consolidated Statements of Income
$
221,026

 
$
207,333

Operating Profit (Loss)
 
 
 
PE Films:
 
 
 
Ongoing operations
$
9,031

 
$
10,235

Plant shutdowns, asset impairments, restructurings and other
(2,068
)
 
(1,135
)
Flexible Packaging Films:
 
 
 
Ongoing operations
(1,998
)
 
2,032

Plant shutdowns, asset impairments, restructurings and other
—

 
—

Aluminum Extrusions:
 
 
 
Ongoing operations
9,829

 
7,499

Plant shutdowns, asset impairments, restructurings and other
(4,341
)
 
(7
)
Total
10,453

 
18,624

Interest income
74

 
37

Interest expense
1,180

 
1,085

Gain on investment accounted for under fair value method
3,300

 
800

Stock option-based compensation costs
3

 
(37
)
Corporate expenses, net
6,523

 
7,916

Income before income taxes
6,121

 
10,497

Income taxes
2,418

 
3,216

Net income
$
3,703

 
$
7,281


The following table presents identifiable assets by segment at March 31, 2017 and December 31, 2016:
(In Thousands)
March 31, 2017
 
December 31, 2016
PE Films
$
286,824

 
$
278,558

Flexible Packaging Films
156,568

 
156,836

Aluminum Extrusions
257,557

 
147,639

Subtotal
700,949

 
583,033

General corporate
37,854

 
38,618

Cash and cash equivalents
28,864

 
29,511

Total
$
767,667

 
$
651,162