Segment Information

The Company manages its business and serves its customers through reportable segments differentiated by product type, end market, and geography. Beginning in 2014, the Company has included net sales and the related cost of goods sold for certain commercial panels sold to customers in Residential markets within the U.S. Commercial Products Segment results. Previously, these products were included in the U.S. Residential Products Segment. The Company's 2013 and 2012 results have been adjusted to reflect this change in reportable segments.

The Company's four reportable segments are described below:

U.S. Residential Products—The U.S. Residential Products segment utilizes aluminum, steel, copper and vinyl to produce residential roof drainage products, including preformed gutters, downspouts, elbows, soffit, drip edge, fascia, flashing, snow guards and related accessories. These products are used primarily for the repair, replacement or enhancement of residential roof drainage systems. The Company sells these products to home improvement retailers, lumber yards, distributors and contractors from manufacturing and distribution facilities throughout North America. The Company also produces specialty made-to-order vinyl replacement windows and aluminum patio and awning components sold primarily to home improvement contractors in the western U.S.

U.S. Commercial Products—The U.S. Commercial Products segment utilizes various materials, including steel coil, aluminum coil and fiberglass to create various products with commercial applications, including roofing and siding panels, ridge caps, flashing, trim, soffit and other accessories as well as sidewall components, siding and other exterior components for the towable RV, cargo and manufactured housing markets. The Company sells these products to builders, contractors, lumber yards, home improvement retailers, OEMs, and RV manufacturers from manufacturing and distribution facilities located throughout the U.S. These products are used in the construction of a wide variety of small scale commercial, agricultural and industrial building types on either wood or metal frames, manufactured homes, and towable RVs.

European Roll Coated Aluminum—The European Roll Coated Aluminum segment uses a roll coating process to apply paint to bare aluminum coil and, to a lesser extent, bare steel coil in order to produce specialty coated coil, which the Company also processes into specialty coated sheets and panels. The Company sells these products to building panel manufacturers, contractors and UK “holiday home,” RV and transportation OEMs throughout Europe and in parts of Asia. The Company’s customers use its specialty coated metal products to manufacture, among other things, RV sidewalls, commercial roofing panels, interior ceiling panels, and liner panels for shipping containers. The Company produces and distributes these roll coated products from facilities located in the Netherlands and the UK.

European Engineered Products—The European Engineered Products segment utilizes aluminum and vinyl extrusions to produce residential windows, doors and shower enclosures. These products are sold to home improvement retailers, distributors and factory‑built “holiday home” builders in the UK. The Company also produces windows used in the operator compartments of heavy equipment, components sold to suppliers to automotive OEMs in Western Europe and RV doors. The Company produces and distributes these engineered products from facilities in France and the UK and has developed extensive in-house manufacturing capabilities, including powder coating, glass cutting, anodizing and glass toughening.

The accounting policies for segments are the same as those described in Note 1. The Company evaluates the performance of its segments and allocates resources to them based primarily on segment income (loss) from operations. Expenses, income and assets that are not segment specific relate to holding company and business development activities conducted for the overall benefit of the Company and, accordingly, are not attributable to the Company's segments.

The following table presents information about reported segments for the years ended December 31, 2014, December 31, 2013 and December 31, 2012.



	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
2014
Net sales:
Third party	$	279,954	$	317,270		$	192,494	$	65,027		$	—		$	—		$	854,745
Intersegment	845		126			586		—			—			(1,557		)	—
Total net sales	$	280,799	$	317,396		$	193,080	$	65,027		$	—		$	(1,557	)	$	854,745
Income (loss) from operations	$	20,656	$	(1,346	)	$	12,555	$	(768	)	$	(12,507	)	$	—		$	18,590
Depreciation and amortization	$	10,925	$	10,075		$	9,162	$	1,564		$	702		$	—		$	32,428
Capital expenditures	$	1,316	$	1,464		$	1,565	$	1,170		$	1,818		$	—		$	7,333
Total assets (1)	$	159,436	$	114,321		$	200,519	$	48,904		$	13,596		$	—		$	536,776



	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
2013
Net sales:
Third party	$	266,483	$	301,976		$	193,504	$	64,709		$	—		$	—		$	826,672
Intersegment	726		435			217		—			—			(1,378		)	—
Total net sales	$	267,209	$	302,411		$	193,721	$	64,709		$	—		$	(1,378	)	$	826,672
Income (loss) from operations	$	16,763	$	(3,242	)	$	11,004	$	(6,849	)	$	(10,658	)	$	—		$	7,018
Depreciation and amortization	$	11,820	$	11,333		$	9,509	$	1,846		$	591		$	—		$	35,099
Capital expenditures	$	2,787	$	2,016		$	3,224	$	1,612		$	1,103		$	—		$	10,742
Total assets (1)	$	163,773	$	107,053		$	228,514	$	52,331		$	20,302		$	—		$	571,973



	U.S. Residential Products		U.S. Commercial Products		European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
2012
Net sales:
Third party	$	258,937	$	314,466	$	196,087	$	67,650		$	—		$	—		$	837,140
Intersegment	951		519		519		—			—			(1,989		)	—
Total net sales	$	259,888	$	314,985	$	196,606	$	67,650		$	—		$	(1,989	)	$	837,140
Income (loss) from operations	$	19,319	$	1,771	$	9,208	$	(6,586	)	$	(12,357	)	$	—		$	11,355
Depreciation and amortization	$	11,674	$	10,774	$	9,455	$	2,480		$	401		$	—		$	34,784
Capital expenditures	$	1,495	$	1,255	$	2,275	$	627		$	1,488		$	—		$	7,140
Total assets (1)	$	173,719	$	115,525	$	221,950	$	55,898		$	27,330		$	—		$	594,422

(1) Segment assets include cash, accounts receivable, inventories, other current assets, property, plant and equipment, goodwill, intangibles, and other long term assets. Other non-allocated assets include all corporate assets, as well as deferred taxes and income taxes receivable.

The following table reflects revenues from external customers by markets for the periods indicated. Revenues from external customers by groups of similar products have not been provided as it is impracticable to do so.



		Year Ended
Customer/Markets	Primary Products	December 31, 2014		December 31, 2013		December 31, 2012
Original Equipment Manufacturers (OEMs)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	$	207,527	$	199,213	$	202,556
Home Improvement Retailers	Rain carrying systems, roofing accessories, windows, doors and shower enclosures	175,888		182,666		181,363
Industrial and Architectural Contractors	Standing seam panels and siding and roofing accessories	146,277		148,708		148,231
Rural Contractors	Steel and aluminum roofing and siding	142,544		135,296		144,398
Distributors	Metal coils, rain carrying systems and roofing accessories	98,761		88,300		91,505
Home Improvement Contractors	Vinyl replacement windows; metal coils; rain carrying systems; metal roofing and insulated roofing panels; patio and entrance doors; and awnings	49,771		40,645		35,674
Manufactured Housing	Steel siding and trim components	33,977		31,844		33,413
		$	854,745	$	826,672	$	837,140

The following tables reflect net sales and long-lived asset information by geographic areas for the periods indicated:



	Net Sales
	Year Ended
	December 31, 2014		December 31, 2013		December 31, 2012
United States	$	588,593	$	559,135	$	564,254
The Netherlands	149,473		155,032		154,153
United Kingdom	75,529		69,433		72,699
France	32,520		33,748		36,886
Canada	8,630		9,324		9,148
	$	854,745	$	826,672	$	837,140



	Long-Lived Assets
	December 31, 2014		December 31, 2013
United States	$	53,042	$	62,186
The Netherlands	30,554		37,367
United Kingdom	14,660		15,523
France	11,178		13,133
Canada	1,730		1,905
	$	111,164	$	130,114

Non-U.S. revenue is classified based on the country in which the legal subsidiary is domiciled. The Company's largest customer accounted for 12.4% of 2014, 13.5% of 2013 and 13.3% of 2012 net sales. Sales from this customer are included in the U.S. Residential Products and U.S. Commercial Products segments. As of December 31, 2014, this customer had an outstanding trade receivable balance of $5.9 million. No other customer represented greater than 6% of the Company's revenues in 2014, 2013, or 2012.