| Segment Information |
Segment Information The Company is a leading global, technology-driven developer, producer and marketer of engineered materials, primarily focused on the production of nonwoven products. The Company operates through four reportable segments, with the main source of revenue being the sales of primary and intermediate products to consumer and industrial markets. The Company has one major customer that accounts for over 10% of its business, the loss of which would have a material adverse impact on reported financial results. Sales to this customer are reported within each of the the Nonwoven segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the segment results are prepared on a management basis that is consistent with the manner in which the Company desegregates financial information for internal review and decision making. Intercompany sales between the segments are eliminated. Financial data by segment is as follows: | | | | | | | | | | | | | | | | | In thousands | Three Months
Ended
June 28,
2014 | | Three Months
Ended
June 29,
2013 | | Six Months
Ended
June 28,
2014 | | Six Months
Ended
June 29,
2013 | Net sales: | | | | | | | | Americas Nonwovens | $ | 235,419 |
| | $ | 159,444 |
| | $ | 448,937 |
| | $ | 312,449 |
| Europe Nonwovens | 139,458 |
| | 72,938 |
| | 283,079 |
| | 151,212 |
| Asia Nonwovens | 46,173 |
| | 42,428 |
| | 93,688 |
| | 80,395 |
| Oriented Polymers | 18,848 |
| | 16,728 |
| | 36,778 |
| | 34,564 |
| Total | $ | 439,898 |
| | $ | 291,538 |
| | $ | 862,482 |
| | $ | 578,620 |
| | | | | | | | | Operating income (loss): | | | | | | | | Americas Nonwovens | $ | 22,572 |
| | $ | 14,557 |
| | $ | 41,066 |
| | $ | 26,031 |
| Europe Nonwovens | 4,499 |
| | 3,419 |
| | 11,174 |
| | 6,712 |
| Asia Nonwovens | 4,707 |
| | 5,035 |
| | 8,859 |
| | 9,589 |
| Oriented Polymers | 1,836 |
| | 1,431 |
| | 3,092 |
| | 3,023 |
| Unallocated Corporate | (16,838 | ) | | (14,364 | ) | | (30,091 | ) | | (24,055 | ) | Eliminations | (93 | ) | | (23 | ) | | (130 | ) | | (61 | ) | Subtotal | 16,683 |
| | 10,055 |
| | 33,970 |
| | 21,239 |
| Special charges, net | (24,264 | ) | | (1,750 | ) | | (32,975 | ) | | (3,554 | ) | Total | $ | (7,581 | ) | | $ | 8,305 |
| | $ | 995 |
| | $ | 17,685 |
| | | | | | | | | Depreciation and amortization expense: | | | | | | | | Americas Nonwovens | $ | 14,445 |
| | $ | 8,086 |
| | $ | 26,970 |
| | $ | 16,403 |
| Europe Nonwovens | 7,494 |
| | 3,004 |
| | 12,975 |
| | 6,063 |
| Asia Nonwovens | 5,524 |
| | 4,808 |
| | 11,096 |
| | 8,197 |
| Oriented Polymers | 342 |
| | 348 |
| | 679 |
| | 696 |
| Unallocated Corporate | (292 | ) | | 421 |
| | 48 |
| | 853 |
| Subtotal | 27,513 |
| | 16,667 |
| | 51,768 |
| | 32,212 |
| Amortization of loan acquisition costs | 1,274 |
| | 607 |
| | 2,300 |
| | 1,214 |
| Total | $ | 28,787 |
| | $ | 17,274 |
| | $ | 54,068 |
| | $ | 33,426 |
| | | | | | | | | Capital spending: | | | | | | | | Americas Nonwovens | $ | 12,282 |
| | $ | 1,233 |
| | $ | 20,501 |
| | $ | 2,051 |
| Europe Nonwovens | 1,512 |
| | 501 |
| | 4,021 |
| | 1,049 |
| Asia Nonwovens | 4,884 |
| | 9,964 |
| | 7,484 |
| | 22,523 |
| Oriented Polymers | 50 |
| | 101 |
| | 91 |
| | 226 |
| Corporate | 957 |
| | 384 |
| | 1,703 |
| | 651 |
| Total | $ | 19,685 |
| | $ | 12,183 |
| | $ | 33,800 |
| | $ | 26,500 |
|
| | | | | | | | | In thousands | June 28,
2014 | | December 28,
2013 | Division assets: | | | | Americas Nonwovens | $ | 1,507,745 |
| | $ | 736,363 |
| Europe Nonwovens | 363,203 |
| | 361,555 |
| Asia Nonwovens | 264,748 |
| | 265,729 |
| Oriented Polymers | 27,254 |
| | 26,441 |
| Corporate | 79,783 |
| | 66,913 |
| Total | $ | 2,242,733 |
| | $ | 1,457,001 |
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