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Segment Information
 12 Months Ended
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.