The Company’s business segments are Aluminum Extrusions, PE Films, and Flexible Packaging Films. 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 months ended September 30, 2019 and 2018:



	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2019			2018			2019			2018
Net Sales
Aluminum Extrusions	$	129,506		$	147,661		$	405,310		$	420,455
PE Films	69,837			76,470			205,778			252,177
Flexible Packaging Films	34,888			33,725			101,950			90,466
Total net sales	234,231			257,856			713,038			763,098
Add back freight	8,986			9,438			26,893			26,667
Sales as shown in the Consolidated Statements of Income	$	243,217		$	267,294		$	739,931		$	789,765
Operating Profit (Loss)
Aluminum Extrusions:
Ongoing operations	$	12,147		$	11,730		$	38,751		$	35,086
Plant shutdowns, asset impairments, restructurings and other	(610		)	(297		)	(667		)	(396		)
Trade name accelerated amortization	(2,510		)	—			(2,510		)	—
PE Films:
Ongoing operations	6,889			4,145			17,606			26,857
Plant shutdowns, asset impairments, restructurings and other	3,834			(2,355		)	933			(4,542		)
Goodwill impairment charge	—			(46,792		)	—			(46,792		)
Flexible Packaging Films:
Ongoing operations	4,000			3,609			9,376			6,617
Plant shutdowns, asset impairments, restructurings and other	—			—			—			—
Total	23,750			(29,960		)	63,489			16,830
Interest income	56			6			163			290
Interest expense	859			1,318			3,354			4,539
Gain (loss) on investment in kaléo accounted for under fair value method	4,300			(2,100		)	28,482			11,900
Unrealized loss on investment property	—			186			—			186
Stock option-based compensation costs	807			415			2,121			806
Corporate expenses, net	9,350			6,926			26,840			21,668
Income (loss) before income taxes	17,090			(40,899		)	59,819			1,821
Income tax expense (benefit)	(43		)	(6,699		)	8,424			3,135
Net income (loss)	$	17,133		$	(34,200	)	$	51,395		$	(1,314	)

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



(In thousands)	September 30, 2019		December 31, 2018
Aluminum Extrusions	$	282,932	$	281,372
PE Films	230,236		231,720
Flexible Packaging Films	58,965		58,964
Subtotal	572,133		572,056
General corporate	114,149		100,920
Cash, cash equivalents and restricted cash	44,652		34,397
Total	$	730,934	$	707,373

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



Net Sales by Geographic Area (a)
	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2019		2018		2019		2018
United States	$	156,469	$	176,022	$	491,511	$	506,769
Exports from the United States to:
Asia	23,344		14,893		61,350		57,370
Latin America	3,332		3,104		8,869		9,810
Canada	2,429		13,451		11,906		40,988
Europe	1,616		1,608		4,493		5,127
Operations outside the United States:
Brazil	29,481		26,591		85,202		73,402
The Netherlands	9,471		11,428		27,508		34,750
Hungary	6,404		7,987		18,400		25,324
India	1,685		396		3,574		3,216
China	—		2,376		225		6,342
Total	$	234,231	$	257,856	$	713,038	$	763,098



Net Sales by Product Group
	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2019		2018		2019		2018
Aluminum Extrusions:
Nonresidential building & construction	$	64,341	$	75,870	$	202,998	$	213,500
Consumer durables	12,939		14,991		44,865		47,300
Automotive	11,091		13,205		36,214		33,992
Residential building & construction	11,110		11,163		33,060		32,976
Electrical	10,468		12,093		31,910		30,243
Machinery & equipment	10,191		11,191		29,585		30,335
Distribution	9,366		9,148		26,678		32,109
Subtotal	129,506		147,661		405,310		420,455
PE Films:
Personal care materials	40,958		57,356		123,770		174,985
Surface protection films	27,052		17,193		76,194		71,926
LED lighting products & other films	1,827		1,921		5,814		5,266
Subtotal	69,837		76,470		205,778		252,177
Flexible Packaging Films	34,888		33,725		101,950		90,466
Total	$	234,231	$	257,856	$	713,038	$	763,098

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.