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Segment Information | 12 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Segment Information |
12) | Segment Information
We determined our reportable segments under the provisions of GAAP related to disclosures about segments of an enterprise. Our three reportable segments are based on differences in product lines. All of the facilities in the Precision Bearing Components Group are engaged in the production of precision steel balls, steel rollers, and metal retainers and automotive specialty products used primarily in the bearing industry. The Precision Engineered Products Group includes the Plastic and Rubber Components Group as presented in previous filings. The name of this segment was changed during 2015 after the PEP Acquisition and disposal of Delta Rubber. With the completion of the PEP Acquisition, we added a global manufacturer of highly engineered precision customized solutions serving the medical, electrical, automotive and aerospace end markets. The Autocam Precision Components Group is engaged in the design and manufacture of close-tolerance, specialty metal alloy components for mechanical and electromechanical systems using turning, grinding and milling processes. Currently, we manufacture components for use in fuel delivery, electromechanical motor, steering and braking systems for the automotive industry and highly engineered shafts, mechanical components, complex precision assembled and tested parts and fluid system components for the HVAC and fluid power industries. This segment was renamed with the acquisition of Autocam.
|  | Precision Bearing Components Group |  |  | Precision Engineered Products Group |  |  | Autocam Precision Components Group |  |  | Corporate and Consolidations |  |  | Total |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 261,837 |  |  | $ | 77,183 |  |  | $ | 328,260 |  |  | $ | — |  |  | $ | 667,280 |
Depreciation and amortization |  |  | 11,496 |  |  |  | 11,295 |  |  |  | 21,472 |  |  |  | 219 |  |  |  | 44,482 |
Income from operations |  |  | 26,310 |  |  |  | (3,718 | ) |  |  | 31,700 |  |  |  | (27,495 | ) |  |  | 26,797 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,899 |  |  |  | 29,899 |
Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,518 | ) |  |  | (10,518 | )
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,431 | ) |  |  | (7,431 | )
Assets |  | $ | 215,163 |  |  | $ | 743,191 |  |  | $ | 417,853 |  |  | $ | 17,319 |  |  | $ | 1,393,526 |
Expenditures for long-lived assets |  | $ | 15,111 |  |  | $ | 728 |  |  | $ | 21,341 |  |  | $ | 1,373 |  |  | $ | 38,553 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 278,026 |  |  | $ | 33,351 |  |  | $ | 177,224 |  |  | $ | — |  |  | $ | 488,601 |
Depreciation and amortization |  |  | 12,000 |  |  |  | 1,160 |  |  |  | 9,070 |  |  |  | (84 | ) |  |  | 22,146 |
Income from operations |  |  | 31,872 |  |  |  | 1,231 |  |  |  | 15,732 |  |  |  | (21,148 | ) |  |  | 27,687 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,895 |  |  |  | 10,895 |
Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,786 |  |  |  | 5,786 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,217 |  |  |  | 8,217 |
Assets |  | $ | 214,291 |  |  | $ | 17,196 |  |  | $ | 444,548 |  |  | $ | 36,678 |  |  | $ | 712,713 |
Expenditures for long-lived assets |  | $ | 10,941 |  |  | $ | 673 |  |  | $ | 10,947 |  |  | $ | 5,041 |  |  | $ | 27,602 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 259,459 |  |  | $ | 34,991 |  |  | $ | 78,756 |  |  | $ | — |  |  | $ | 373,206 |
Depreciation and amortization |  |  | 11,334 |  |  |  | 1,347 |  |  |  | 4,313 |  |  |  | (37 | ) |  |  | 16,957 |
Income from operations |  |  | 27,380 |  |  |  | 592 |  |  |  | 9,112 |  |  |  | (9,257 | ) |  |  | 27,827 |
Interest Expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,374 |  |  |  | 2,374 |
Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,000 |  |  |  | 8,000 |
Net income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 17,178 |  |  |  | 17,178 |
Assets |  | $ | 197,980 |  |  | $ | 16,638 |  |  | $ | 39,432 |  |  | $ | 8,352 |  |  | $ | 262,402 |
Expenditures for long-lived assets |  | $ | 9,250 |  |  | $ | 1,015 |  |  | $ | 4,640 |  |  | $ | 345 |  |  | $ | 15,250 |
The vast majority of the acquisition related costs for the PEP Acquisition and Caprock acquisition in 2015, and the Autocam acquisition and the other three acquisitions in 2014 are reported under Corporate and Consolidations. These costs impacted income from operations at Corporate by $10.9 million and $9.8 million for the years ended December 31, 2015 and 2014, respectively. Beginning October 20, 2015 and September 1, 2014, the Precision Engineered Products Group and Autocam Precision Components Group, respectively, include the results of the acquired PEP and Autocam businesses. Since the date of the PEP Acquisition, 2015 sales revenue of $40.7 million and net loss of $(2.6) million (including the $4.3 million for the one-time increase in cost of goods sold for inventory step-up, and $5.2 for the amortization of backlog intangible) has been included in this segment. During 2014 and since the date of the Autocam acquisitions, sales revenue of $80.8 million and net income of $3.7 million (including the $1.2 million for the one-time increase in cost of goods sold for inventory step-up) has been included in this segment.
|  | December 31, 2015 |  |  | December 31, 2014 |  |  | December 31, 2013 |
|  | Net Sales |  |  | Property, Plant and Equipment, Net |  |  | Net Sales |  |  | Property, Plant and Equipment, Net |  |  | Net Sales |  |  | Property, Plant and Equipment, Net |
United States |  | $ | 326,747 |  |  | $ | 183,226 |  |  | $ | 204,360 |  |  | $ | 129,232 |  |  | $ | 140,875 |  |  | $ | 42,573 |
Europe |  |  | 170,921 |  |  |  | 77,147 |  |  |  | 167,665 |  |  |  | 82,783 |  |  |  | 149,649 |  |  |  | 57,505 |
Asia |  |  | 86,564 |  |  |  | 35,345 |  |  |  | 58,470 |  |  |  | 32,848 |  |  |  | 38,233 |  |  |  | 21,011 |
Canada |  |  | 9,759 |  |  |  | — |  |  |  | 8,657 |  |  |  | — |  |  |  | 9,415 |  |  |  | — |
Mexico |  |  | 39,118 |  |  |  | 2,971 |  |  |  | 25,900 |  |  |  | 2,637 |  |  |  | 21,963 |  |  |  | — |
S. America |  |  | 34,171 |  |  |  | 20,279 |  |  |  | 23,549 |  |  |  | 30,942 |  |  |  | 13,071 |  |  |  | — |
All foreign countries |  |  | 340,533 |  |  |  | 135,742 |  |  |  | 284,241 |  |  |  | 149,210 |  |  |  | 232,331 |  |  |  | 78,516 |
Total |  | $ | 667,280 |  |  | $ | 318,968 |  |  | $ | 488,601 |  |  | $ | 278,442 |  |  | $ | 373,206 |  |  | $ | 121,089 |
Due to the large number of countries in which we sell our products, sales to external customers and long-lived assets utilized by us are reported in the above geographical regions.

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- 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 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: 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=51669610&loc=d3e9038-108599 Reference 3: 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=51669610&loc=d3e8971-108599 Reference 4: 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=51669610&loc=d3e8595-108599 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=51669610&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 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: 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=51669610&loc=d3e8844-108599 Reference 8: 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=51669610&loc=d3e8984-108599 Reference 9: 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=51669610&loc=d3e9031-108599 Reference 10: 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=51669610&loc=d3e9054-108599 Reference 11: 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=51669610&loc=d3e8538-108599 Reference 12: 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=51669610&loc=d3e8864-108599 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=51669610&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 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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