XML 46 R18.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Segment Reporting | 6 Months Ended
--- | ---
Jun. 30, 2012
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | (12) Segment Reporting Operating segments are defined as components of an enterprise that are evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the chief executive officer. On December 31, 2011, the Company acquired a controlling interest in PST, see Note 3. Due to the acquisition, effective December 31, 2011, PST is now a separate reportable segment. PST’s results of operations are consolidated and included throughout the Company’s condensed consolidated statement of operations for the three and six months ended June 30, 2012, while the results of operations are included in equity in earnings of investees for the three and six months ended June 30, 2011. See Note 13 for summarized operations information of PST for the three and six months ended June 30, 2011. The Company has three reportable segments: Electronics, Control Devices and PST. The Company’s operating segments in the Electronics and Control Devices segments are aggregated based on sharing similar economic characteristics. Other aggregation factors include the nature of the products offered and management and oversight responsibilities. The Electronics reportable segment produces electronic instrument clusters, electronic control units, driver information systems and electrical distribution systems, primarily wiring harnesses and connectors for electrical power and signal distribution. The Control Devices reportable segment produces electronic and electromechanical switches and control actuation devices and sensors. The PST reportable segment, which is also an operating segment, specializes in the design, manufacture and sale of electronic vehicle security alarms, convenience accessories, vehicle tracking devices and monitoring services and in-vehicle audio and video devices. The accounting policies of the Company’s reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies” of the Company’s December 31, 2011 Form 10-K. The Company’s management evaluates the performance of its reportable segments based primarily on revenues from external customers, capital expenditures and income before income taxes. Inter-segment sales are accounted for on terms similar to those to third parties and are eliminated upon consolidation. A summary of financial information by reportable segment is as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 127,227 |  |  | $ | 124,085 |  |  | $ | 265,407 |  |  | $ | 248,902 |
Inter-segment sales |  |  | 7,393 |  |  |  | 6,382 |  |  |  | 13,963 |  |  |  | 12,848 |
Electronics net sales |  |  | 134,620 |  |  |  | 130,467 |  |  |  | 279,370 |  |  |  | 261,750 |
Control Devices |  |  | 68,564 |  |  |  | 66,332 |  |  |  | 138,960 |  |  |  | 134,559 |
Inter-segment sales |  |  | 853 |  |  |  | 961 |  |  |  | 1,978 |  |  |  | 1,934 |
Control Devices net sales |  |  | 69,417 |  |  |  | 67,293 |  |  |  | 140,938 |  |  |  | 136,493 |
PST (A) |  |  | 38,474 |  |  |  | - |  |  |  | 92,165 |  |  |  | - |
Inter-segment sales |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
PST net sales (A) |  |  | 38,474 |  |  |  | - |  |  |  | 92,165 |  |  |  | - |
Eliminations |  |  | (8,246 | ) |  |  | (7,343 | ) |  |  | (15,941 | ) |  |  | (14,782 | )
Total net sales |  | $ | 234,265 |  |  | $ | 190,417 |  |  | $ | 496,532 |  |  | $ | 383,461 |
Income (Loss) Before Income Taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 2,354 |  |  | $ | 464 |  |  | $ | 9,044 |  |  | $ | 1,133 |
Control Devices |  |  | 3,829 |  |  |  | 6,018 |  |  |  | 7,901 |  |  |  | 11,701 |
PST (A) |  |  | (8,124 | ) |  |  | 1,595 |  |  |  | (8,456 | ) |  |  | 3,104 |
Other corporate activities |  |  | (259 | ) |  |  | 151 |  |  |  | 239 |  |  |  | (517 | )
Corporate interest expense |  |  | (3,982 | ) |  |  | (3,830 | ) |  |  | (7,946 | ) |  |  | (7,672 | )
Total income (loss) before income taxes |  | $ | (6,182 | ) |  | $ | 4,398 |  |  | $ | 782 |  |  | $ | 7,749 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 2,349 |  |  | $ | 2,634 |  |  | $ | 4,687 |  |  | $ | 5,096 |
Control Devices |  |  | 2,317 |  |  |  | 2,379 |  |  |  | 4,748 |  |  |  | 4,843 |
PST (A) |  |  | 4,124 |  |  |  | - |  |  |  | 8,077 |  |  |  | - |
Corporate |  |  | 47 |  |  |  | 50 |  |  |  | 95 |  |  |  | 100 |
Total depreciation and amortization (B) |  | $ | 8,837 |  |  | $ | 5,063 |  |  | $ | 17,607 |  |  | $ | 10,039 |
Interest Expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 437 |  |  | $ | 433 |  |  | $ | 859 |  |  | $ | 836 |
Control Devices |  |  | 57 |  |  |  | 26 |  |  |  | 114 |  |  |  | 47 |
PST (A) |  |  | 686 |  |  |  | - |  |  |  | 1,598 |  |  |  | - |
Corporate |  |  | 3,982 |  |  |  | 3,830 |  |  |  | 7,946 |  |  |  | 7,672 |
Total interest expense, net |  | $ | 5,162 |  |  | $ | 4,289 |  |  | $ | 10,517 |  |  | $ | 8,555 |
Capital Expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronics |  | $ | 1,403 |  |  | $ | 7,447 |  |  | $ | 2,952 |  |  | $ | 9,844 |
Control Devices |  |  | 1,962 |  |  |  | 2,297 |  |  |  | 4,032 |  |  |  | 4,240 |
PST (A) |  |  | 2,985 |  |  |  | - |  |  |  | 5,406 |  |  |  | - |
Corporate |  |  | 1,172 |  |  |  | 31 |  |  |  | 1,980 |  |  |  | 33 |
Total capital expenditures |  | $ | 7,522 |  |  | $ | 9,775 |  |  | $ | 14,370 |  |  | $ | 14,117 |
|  | June 30, 2012 |  |  | December 31, 2011 |
Total Assets: |  |  |  |  |  |  |  |
Electronics |  | $ | 221,569 |  |  | $ | 211,790 |
Control Devices |  |  | 108,372 |  |  |  | 98,636 |
PST (A) |  |  | 286,338 |  |  |  | 326,910 |
Corporate (C) |  |  | 303,333 |  |  |  | 341,602 |
Eliminations |  |  | (279,092 | ) |  |  | (281,281 | )
Total assets |  | $ | 640,520 |  |  | $ | 697,657 |
(A) | The acquisition of a controlling interest in PST occurred on December 31, 2011, see Note 3. PST’s results of operations are consolidated and included in the Company’s statement of operations for the three and six month periods ended June 30, 2012, while PST’s results of operations for the three and six month periods ended June 30, 2011 were included in equity earnings of investees.
(B) | These amounts represent depreciation and amortization on property, plant and equipment and certain intangible assets.
(C) | Assets located at Corporate consist primarily of cash, intercompany loan receivables and equity investments.
The following table presents net sales and non-current assets for each of the geographic areas in which the Company operates:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 159,216 |  |  | $ | 147,608 |  |  | $ | 329,339 |  |  | $ | 300,379 |
South America |  |  | 38,474 |  |  |  | - |  |  |  | 92,165 |  |  |  | - |
Europe and Other |  |  | 36,575 |  |  |  | 42,809 |  |  |  | 75,028 |  |  |  | 83,082 |
Total net sales |  | $ | 234,265 |  |  | $ | 190,417 |  |  | $ | 496,532 |  |  | $ | 383,461 |
|  | June 30, 2012 |  |  | December 31, 2011 |
Long-term Assets: |  |  |  |  |  |  |  |
North America |  | $ | 84,477 |  |  | $ | 83,460 |
South America |  |  | 193,002 |  |  |  | 210,028 |
Europe and Other |  |  | 13,329 |  |  |  | 14,046 |
Total long-term assets |  | $ | 290,808 |  |  | $ | 307,534 |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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=6534315&loc=d3e8906-108599 Reference 3: 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=6534315&loc=d3e8933-108599 Reference 4: 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=6534315&loc=d3e8984-108599 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=6534315&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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: 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=6534315&loc=d3e9054-108599 Reference 8: 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=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: 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=6534315&loc=d3e8981-108599 Reference 11: 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=6534315&loc=d3e8971-108599 Reference 12: 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=6534315&loc=d3e8844-108599 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=6534315&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 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: 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=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration