The Company’s business segments are PE Films, Flexible Packaging Films 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 months ended March 31, 2019 and 2018:



	Three Months Ended March 31,
(In thousands)	2019			2018
Net Sales
PE Films	$	66,779		$	93,249
Flexible Packaging Films	33,619			28,437
Aluminum Extrusions	139,047			128,235
Total net sales	239,445			249,921
Add back freight	9,021			8,790
Sales as shown in the Consolidated Statements of Income	$	248,466		$	258,711
Operating Profit (Loss)
PE Films:
Ongoing operations	$	2,951		$	14,034
Plant shutdowns, asset impairments, restructurings and other	(1,378		)	(1,052		)
Flexible Packaging Films:
Ongoing operations	2,859			1,715
Plant shutdowns, asset impairments, restructurings and other	—			—
Aluminum Extrusions:
Ongoing operations	12,085			10,199
Plant shutdowns, asset impairments, restructurings and other	(40		)	(53		)
Total	16,477			24,843
Interest income	59			56
Interest expense	1,232			1,644
Gain (loss) on investment in kaléo accounted for under fair value method	17,082			8,200
Stock option-based compensation costs	415			86
Corporate expenses, net	8,160			7,918
Income (loss) before income taxes	23,811			23,451
Income taxes (benefit)	4,026			5,287
Net income (loss)	$	19,785		$	18,164

The following table presents identifiable assets by segment at March 31, 2019 and December 31, 2018:



(In thousands)	March 31, 2019		December 31, 2018
PE Films	$	234,301	$	231,720
Flexible Packaging Films	59,550		58,964
Aluminum Extrusions	302,153		281,372
Subtotal	596,004		572,056
General corporate	117,071		100,920
Cash and cash equivalents	36,302		34,397
Total	$	749,377	$	707,373

The following tables disaggregate the Company’s revenue by geographic area and product group for the three months ended March 31, 2019 and 2018:



Net Sales by Geographic Area (a)
	Three Months Ended March 31,
(In thousands)	2019		2018
United States	$	172,254	$	159,562
Exports from the United States to:
Asia	13,493		23,592
Canada	3,605		13,298
Europe	1,360		1,822
Latin America	2,867		3,052
Operations outside the United States:
Brazil	28,138		23,151
The Netherlands	9,587		11,928
Hungary	6,834		8,818
China	230		2,274
India	1,077		2,424
Total	$	239,445	$	249,921



Net Sales by Product Group
	Three Months Ended March 31,
(In thousands)	2019	2018
PE Films:
Personal care materials	44,855	61,644
Surface protection films	19,888	29,815
LED lighting products & other films	2,036	1,790
Subtotal	66,779	93,249
Flexible Packaging Films	33,619	28,437
Aluminum Extrusions:
Nonresidential building & construction	69,638	65,280
Consumer durables	15,545	15,189
Distribution	8,573	10,971
Automotive	12,627	9,673
Residential building & construction	11,672	9,601
Machinery & equipment	9,923	9,094
Electrical	11,069	8,427
Subtotal	139,047	128,235
Total	239,445	249,921

See the previous page for a reconciliation of net sales to sales (as shown in the Consolidated Statements of Income).

(a)

Export sales relate primarily to PE Films. Operations outside the U.S. in The Netherlands, Hungary, China and India also relate to PE Films. Operations in Brazil are primarily related to Flexible Packaging Films, but also include PE Films operations. Sales from locations in The Netherlands and Hungary are primarily to customers located in Europe. Sales from locations in China (Guangzhou and Shanghai) are primarily to customers located in China, but also include other customers in Asia.