Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Segment Reporting Information, by Segment

A summary of financial information by reportable segment is as follows:


Years ended December 31		2013		2012		2011
Net Sales:
Control Devices	$	291,145	$	267,859	$	259,315
Inter-segment sales		2,875		3,906		3,619
Control Devices net sales		294,020		271,765		262,935

Electronics		189,809		164,196		180,508
Inter-segment sales		41,137		51,857		58,029
Electronics net sales		230,946		216,053		238,537

Wiring		288,344		326,048		325,549
Inter-segment sales		7,593		3,783		2,825
Wiring net sales		295,937		329,831		328,374

PST (A)		178,532		180,410		-
Inter-segment sales		-		-		-
PST net sales		178,532		180,410		-

Eliminations		(51,605)		(59,546)		(64,473)
Total net sales	$	947,830	$	938,513	$	765,373
Income (Loss) Before Income Taxes:
Control Devices	$	26,914	$	15,048	$	17,145
Electronics		15,596		10,049		14,743
Wiring		(10,074)		(289)		(17,119)
PST (A)		5,395		(4,985)		-
PST - equity in earnings of investee (A)		-		-		8,805
Other corporate activities (A)		(1,117)		635		63,461
Corporate interest expense		(15,980)		(15,898)		(15,393)
Total income before income taxes	$	20,734	$	4,560	$	71,642
Depreciation and Amortization:
Control Devices	$	9,877	$	9,137	$	9,270
Electronics		4,800		4,467		5,174
Wiring		4,978		5,054		4,442
PST (A)		14,426		15,613		-
Corporate		183		188		199
Total depreciation and amortization (B)	$	34,264	$	34,459	$	19,085
Interest Expense, net:
Control Devices	$	182	$	254	$	144
Electronics		760		1,342		1,619
Wiring		250		164		78
PST (A)		1,174		2,375		-
Corporate		15,980		15,898		15,393
Total interest expense, net	$	18,346	$	20,033	$	17,234
Capital Expenditures:
Control Devices	$	9,906	$	9,574	$	10,368
Electronics		4,667		2,841		6,148
Wiring		3,768		3,251		9,740
PST (A)		6,663		9,102		-
Corporate		340		1,584		34
Total capital expenditures	$	25,344	$	26,352	$	26,290



As of December 31		2013		2012
Total Assets:
Control Devices	$	105,730	$	100,351
Electronics		105,352		84,772
Wiring		98,180		99,755
PST		237,649		267,687
Corporate (C)		308,167		308,969
Eliminations		(266,756)		(268,843)
Total assets	$	588,322	$	592,691

(A)The acquisition of a controlling interest in PST occurred on December 31, 2011. As such, PST’s results for the year ended December 31, 2011 were accounted for under the equity method. PST’s results for the years ended December 31, 2013 and 2012 were consolidated. See Note 2 to the consolidated financial statements included in this report. PST’s balance sheet is reflected in the consolidated balance sheet as of December 31, 2013 and 2012. The Company recognized a one-time non-cash pre-tax gain of $65,372 in 2011 within other corporate activities on its previously held interest in PST related to the acquisition.

(B)These amounts represent depreciation and amortization on fixed and certain intangible assets.

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table presents net sales and long-term assets for the geographic areas in which the Company operates:


Years ended December 31		2013		2012		2011

Net Sales:
North America	$	594,854	$	611,756	$	601,490
South America		178,532		180,410		-
Europe and Other		174,444		146,347		163,883
Total net sales	$	947,830	$	938,513	$	765,373


		December 31,		December 31,
		2013		2012

Long-term Assets:
North America	$	79,219	$	82,777
South America		154,226		185,109
Europe and Other		14,641		13,751
Total long-term assets	$	248,086	$	281,637

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details