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Segment Information | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Segment Information | Segment Information We determined our reportable segments under the provisions of U.S. GAAP related to disclosures about segments of an enterprise. Management has concluded that Mobile Solutions, Power Solutions, and Life Sciences each constitutes an operating segment as each engages in business activities for which it earns revenues and incurs expenses for which separate financial information is available, and this is the level at which the Chief Operating Decision Maker (“CODM”) reviews discrete financial information for purposes of allocating resources and assessing performance. In making this determination, management considered the form and content of the financial information that is regularly reviewed by the CODM. As described in Note 1, in January 2018, we implemented a new enterprise and management structure and reorganized our businesses into the Mobile Solutions, Power Solutions and Life Sciences groups based principally on the end markets they serve. In the first quarter of 2018, we began reporting our financial results based on these new reportable segments. Prior year amounts have been restated to conform to the current year presentation. Mobile Solutions Mobile Solutions is focused on growth in the general industrial and automotive end markets. We have developed an expertise in manufacturing highly complex, system critical components for fuel systems, engines and transmissions, power steering systems and electromechanical motors on a high-volume basis. This expertise has been gained through investment in technical capabilities, processes and systems, and skilled program management and product launch capabilities. Power Solutions Power Solutions is focused on growth in the electrical, and aerospace and defense end markets. Within this group 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 used in applications ranging from power control to flight control and for military devices. We manufacture a variety of products including electrical contacts, connectors, contact assemblies and precision stampings for the electrical end market and high precision products for the aerospace and defense end markets utilizing our extensive process technologies for optical grade plastics, thermally conductive plastics, titanium, Inconel, magnesium and electroplating. Life Sciences Life Sciences is focused on growth in the medical end market. Within this group we combine advanced engineering and production capabilities to design and manufacture a broad range of high-precision metal and plastic components, assemblies and finished devices. We manufacture a variety of components, assemblies and instruments, such as surgical knives, bioresorbable implants, surgical staples, cases and trays, orthopedic implants and tools, laparoscopic devices, and drug delivery devices for the medical and life sciences end market. Segment Results The following table presents results of continuing operations for each reportable segment.
|  | Mobile Solutions |  | Power Solutions |  | Life Sciences |  | Corporate and Consolidations |  |  |  | Total Continuing Operations
Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 88,079 |  |  | $ | 49,820 |  |  | $ | 59,153 |  |  | $ | (703 | ) |  | (a) |  | $ | 196,349 |
Income (loss) from operations |  | $ | 7,380 |  |  | $ | 6,000 |  |  | $ | 2,041 |  |  | $ | (15,713 | ) |  |  |  | $ | (292 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (15,988 | )
Other |  |  |  |  |  |  |  |  |  |  |  | (14,825 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  | $ | (31,105 | )
Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 177,873 |  |  | $ | 98,502 |  |  | $ | 90,353 |  |  | $ | (1,231 | ) |  | (a) |  | $ | 365,497 |
Income (loss) from operations |  | $ | 17,165 |  |  | $ | 11,233 |  |  | $ | 6,245 |  |  | $ | (31,242 | ) |  |  |  | $ | 3,401 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (27,984 | )
Other |  |  |  |  |  |  |  |  |  |  |  | (14,512 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  | $ | (39,095 | )
Three Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 86,658 |  |  | $ | 48,734 |  |  | $ | 23,114 |  |  | $ | (559 | ) |  |  |  | $ | 157,947 |
Income (loss) from operations |  | $ | 10,688 |  |  | $ | 6,819 |  |  | $ | 3,798 |  |  | $ | (8,663 | ) |  |  |  | $ | 12,642 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (12,338 | )
Other |  |  |  |  |  |  |  |  |  |  |  | (40,025 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  | $ | (39,721 | )
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 173,104 |  |  | $ | 97,158 |  |  | $ | 46,243 |  |  | $ | (1,003 | ) |  |  |  | $ | 315,502 |
Income (loss) from operations |  | $ | 21,289 |  |  | $ | 13,614 |  |  | $ | 7,420 |  |  | $ | (15,829 | ) |  |  |  | $ | 26,494 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (27,177 | )
Other |  |  |  |  |  |  |  |  |  |  |  | (39,215 | )
Loss from continuing operations before benefit for income taxes and share of net income from joint venture |  | $ | (39,898 | )
(a) | Includes eliminations of intersegment transactions occurring during the ordinary course of business.
|  | Total Assets as of
|  | June 30, 2018 |  | December 31, 2017
Mobile Solutions |  | $ | 446,111 |  |  | $ | 428,321 |
Power Solutions |  | 390,656 |  |  | 383,063 |
Life Sciences |  | 811,299 |  |  | 355,703 |
Corporate and Consolidations |  | 113,018 |  |  | 307,916 |
Total Continuing Operations |  | $ | 1,761,084 |  |  | $ | 1,475,003 |
The Paragon Medical business acquired on May 7, 2018, contributed $27.1 million to net sales and $1.7 million to income from operations in the Life Sciences group after the acquisition date through June 30, 2018. The Bridgemedica business acquired on February 22, 2018, contributed $3.6 million to net sales and less than $0.1 million to income from operations in the Life Sciences group after the acquisition date through June 30, 2018.

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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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