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Segment Information | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Information | Note 4. Segment Information We determined our reportable segments under the provisions of U.S. GAAP related to disclosures about segments of an enterprise. Our reportable segments are based on differences in product lines. Our business has historically been aggregated into three reportable segments: PBC, APC, and PEP. See Note 2 for information regarding the sale of the PBC Business on August 17, 2017. The results of the PBC Business are classified as discontinued operations for all periods in the consolidated financial statements and accompanying notes unless otherwise stated. Accordingly, results of the PBC Business are not included in the tabular presentation below. Within our APC segment, we manufacture highly engineered, difficult-to-manufacture precision metal components and subassemblies for the automotive and general industrial end markets. 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 heating, ventilation, and air conditioning and fluid power industries. Within our PEP segment, we combine materials science expertise with advanced engineering and production capabilities to design and manufacture a broad range of high-precision metal and plastic components, assemblies, and finished devices for the medical and life sciences, electrical, automotive, general industrial and aerospace and defense end markets. Note 22 includes discussion of our announcement subsequent to December 31, 2017, to implement a new enterprise and management structure by organizing our business into three segments beginning in 2018. The following table presents results of continuing operations for each reportable segment. There were no significant inter-segment transactions during the periods presented.
|  | Autocam Precision Components Group |  |  | Precision Engineered Products Group |  |  | Corporate and Consolidations |  |  | Total |
Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 336,852 |  |  | $ | 282,941 |  |  | $ | — |  |  | $ | 619,793 |
Depreciation and amortization |  | $ | 24,491 |  |  | $ | 26,745 |  |  | $ | 1,170 |  |  | $ | 52,406 |
Income from operations |  | $ | 34,405 |  |  | $ | 36,711 |  |  | $ | (38,002 | ) |  | $ | 33,114 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (52,085 | )
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (39,902 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (58,873 | )
Share of net income from joint venture |  | $ | 5,211 |  |  |  |  |  |  |  |  |  |  | $ | 5,211 |
Expenditures for long-lived assets |  | $ | 24,056 |  |  | $ | 5,443 |  |  | $ | 6,907 |  |  | $ | 36,406 |
Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 326,138 |  |  | $ | 258,816 |  |  | $ | — |  |  | $ | 584,954 |
Depreciation and amortization |  | $ | 22,189 |  |  | $ | 28,105 |  |  | $ | 427 |  |  | $ | 50,721 |
Income from operations |  | $ | 29,490 |  |  | $ | 33,900 |  |  | $ | (28,611 | ) |  | $ | 34,779 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (62,870 | )
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,775 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (30,866 | )
Share of net income from joint venture |  | $ | 5,938 |  |  |  |  |  |  |  |  |  |  | $ | 5,938 |
Expenditures for long-lived assets |  | $ | 23,077 |  |  | $ | 5,352 |  |  | $ | 3,465 |  |  | $ | 31,894 |
Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 328,260 |  |  | $ | 77,183 |  |  | $ | — |  |  | $ | 405,443 |
Depreciation and amortization |  | $ | 21,472 |  |  | $ | 11,282 |  |  | $ | 219 |  |  | $ | 32,973 |
Income from operations |  | $ | 30,810 |  |  | $ | (3,806 | ) |  | $ | (26,946 | ) |  | $ | 58 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (29,582 | )
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (19,694 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (49,218 | )
Share of net income from joint venture |  | $ | 5,001 |  |  |  |  |  |  |  |  |  |  | $ | 5,001 |
Expenditures for long-lived assets |  | $ | 21,341 |  |  | $ | 728 |  |  | $ | 1,373 |  |  | $ | 23,442 |
|  | Total Assets as of December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Autocam Precision Components Group (1) |  | $ | 428,321 |  |  | $ | 412,692 |  |  | $ | 416,504 |
Precision Engineered Products Group |  |  | 738,766 |  |  |  | 720,362 |  |  |  | 747,804 |
Corporate and Consolidations |  |  | 307,916 |  |  |  | 225,220 |  |  |  | 224,029 |
Total |  | $ | 1,475,003 |  |  | $ | 1,358,274 |  |  | $ | 1,388,337 |
(1) | Total assets of our APC segment include $39.8 million, $36.0 million, and $36.3 million as of December 31, 2017, 2016, and 2015, respectively, related to the investment in our 49% owned joint venture (Note 10).
Acquisition related costs for the Vandalia acquisition in 2017 and the PEP and Caprock acquisitions in 2015 are reported under Corporate and Consolidations. These costs impacted income from operations at Corporate by $0.3 million and $10.9 million for the years ended December 31, 2017 and 2015, respectively. We incurred no acquisition related costs in 2016. Beginning October 2, 2017, our PEP segment includes the results of the Vandalia acquisition. During 2017 since the date of the Vandalia acquisition, net sales revenue of $6.7 million and loss from operations of $0.5 million (including $0.9 million for a one-time increase in cost of goods sold for inventory step-up) has been included in our PEP segment. Beginning October 20, 2015, our PEP segment includes the results of the PEP Acquisition. Since the date of the PEP Acquisition, 2015 sales revenue of $40.7 million and net loss from operations of $5.1 million (including the $4.3 million for the one-time increase in cost of goods sold for inventory step-up, and $5.2 million for the amortization of backlog intangible) has been included in our PEP segment. The following table summarizes sales to external customers and long-lived tangible assets by geographical region.
|  | Net Sales Year Ended December 31, |  |  | Property, Plant, and Equipment, Net As of December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |  |  | 2017 |  |  | 2016 |
United States |  | $ | 437,838 |  |  | $ | 407,917 |  |  | $ | 275,152 |  |  | $ | 173,269 |  |  | $ | 155,784 |
Europe |  | $ | 40,334 |  |  | $ | 36,481 |  |  | $ | 32,736 |  |  | $ | 25,288 |  |  | $ | 21,069 |
Asia |  |  | 62,657 |  |  |  | 64,177 |  |  |  | 46,092 |  |  |  | 26,078 |  |  |  | 19,936 |
Canada |  |  | 2,176 |  |  |  | 1,921 |  |  |  | 861 |  |  |  | — |  |  |  | — |
Mexico |  |  | 40,937 |  |  |  | 45,863 |  |  |  | 27,023 |  |  |  | 7,544 |  |  |  | 5,821 |
S. America |  |  | 35,845 |  |  |  | 28,595 |  |  |  | 23,558 |  |  |  | 27,101 |  |  |  | 27,483 |
Other |  |  | 6 |  |  |  | — |  |  |  | 21 |  |  |  | — |  |  |  | — |
All foreign countries |  | $ | 181,955 |  |  | $ | 177,037 |  |  | $ | 130,291 |  |  | $ | 86,011 |  |  | $ | 74,309 |
Total |  | $ | 619,793 |  |  | $ | 584,954 |  |  | $ | 405,443 |  |  | $ | 259,280 |  |  | $ | 230,093 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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