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 and six months ended June 30, 2019 and 2018:



	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2019			2018			2019			2018
Net Sales
PE Films	$	69,161		$	82,457		$	135,941		$	175,707
Flexible Packaging Films	33,443			28,304			67,062			56,741
Aluminum Extrusions	136,757			144,558			275,804			272,793
Total net sales	239,361			255,319			478,807			505,241
Add back freight	8,887			8,440			17,907			17,229
Sales as shown in the Consolidated Statements of Income	$	248,248		$	263,759		$	496,714		$	522,470
Operating Profit (Loss)
PE Films:
Ongoing operations	$	7,766		$	8,678		$	10,717		$	22,712
Plant shutdowns, asset impairments, restructurings and other	(1,523		)	(1,135		)	(2,901		)	(2,187		)
Flexible Packaging Films:
Ongoing operations	2,517			1,294			5,377			3,008
Plant shutdowns, asset impairments, restructurings and other	—			—			—			—
Aluminum Extrusions:
Ongoing operations	14,518			13,156			26,603			23,355
Plant shutdowns, asset impairments, restructurings and other	(17		)	(46		)	(57		)	(99		)
Total	23,261			21,947			39,739			46,789
Interest income	48			228			107			284
Interest expense	1,263			1,577			2,495			3,221
Gain (loss) on investment in kaléo accounted for under fair value method	7,100			5,800			24,182			14,000
Stock option-based compensation costs	898			305			1,313			391
Corporate expenses, net	9,331			6,824			17,492			14,740
Income (loss) before income taxes	18,917			19,269			42,728			42,721
Income taxes (benefit)	4,440			4,547			8,467			9,834
Net income (loss)	$	14,477		$	14,722		$	34,261		$	32,887

The following table presents identifiable assets by segment at June 30, 2019 and December 31, 2018:



(In thousands)	June 30, 2019		December 31, 2018
PE Films	$	232,316	$	231,720
Flexible Packaging Films	63,826		58,964
Aluminum Extrusions	288,715		281,372
Subtotal	584,857		572,056
General corporate	105,474		100,920
Cash, cash equivalents and restricted cash	39,769		34,397
Total	$	730,100	$	707,373

The following tables disaggregate the Company’s revenue by geographic area and product group for the three and six months ended June 30, 2019 and 2018:



Net Sales by Geographic Area (a)
	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2019		2018		2019		2018
United States	$	162,788	$	171,185	$	335,042	$	330,747
Exports from the United States to:
Asia	24,513		18,884		38,006		42,476
Canada	5,872		14,239		9,477		27,537
Europe	1,517		1,697		2,877		3,519
Latin America	2,670		3,654		5,537		6,706
Operations outside the United States:
Brazil	27,582		23,659		55,721		46,811
The Netherlands	8,450		11,394		18,037		23,322
Hungary	5,162		8,519		11,996		17,337
China	—		1,692		230		3,966
India	807		396		1,884		2,820
Total	$	239,361	$	255,319	$	478,807	$	505,241



Net Sales by Product Group
	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2019	2018	2019	2018
PE Films:
Personal care materials	37,956	55,985	82,812	117,629
Surface protection films	29,253	24,918	49,142	54,733
LED lighting products & other films	1,952	1,555	3,987	3,345
Subtotal	69,161	82,458	135,941	175,707
Flexible Packaging Films	33,443	28,304	67,062	56,741
Aluminum Extrusions:
Nonresidential building & construction	69,019	72,442	138,657	137,629
Consumer durables	16,381	17,161	31,926	32,309
Distribution	8,739	12,031	17,312	22,961
Automotive	12,496	11,157	25,123	20,787
Residential building & construction	10,278	12,343	21,950	21,813
Machinery & equipment	9,471	9,867	19,394	19,144
Electrical	10,373	9,556	21,442	18,150
Subtotal	136,757	144,557	275,804	272,793
Total	239,361	255,319	478,807	505,241

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.