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BUSINESS SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION
BUSINESS SEGMENT INFORMATION
 
The Company is organized into two reportable segments: the Aerostructures segment and the Engineering Services segment.  The Aerostructures segment, which includes the recently acquired Valent, fabricates, machines, finishes, integrates, assembles and kits formed and machined close tolerance aluminum, specialty alloy and composite components for use by the aerospace and defense industries.  The Engineering Services segment, which includes the recently acquired TASS, provides a complete range of design, engineering and program management services supporting aircraft lifecycles from conceptual design, analysis and certification through production support, fleet support and service life extensions via a complete turnkey engineering solution.
 
Corporate assets, liabilities and expenses related to the Company’s corporate offices, except for interest expense and income taxes, primarily support the Aerostructures segment.  The table below presents information about reported segments on the basis used internally to evaluate segment performance:
 
December 31,
 
2013

2012

2011
Net sales:
 
 
 
 
 
Aerostructures
$
331,654

 
$
174,983

 
$
168,145

Engineering Services
83,717

 
105,607

 
87,527

Eliminations
(2,814
)
 
(1,961
)
 
(1,632
)
 
$
412,557

 
$
278,629

 
$
254,040

 
 
 
 
 
 
Gross profit:
 

 
 

 
 

Aerostructures
$
68,088

 
$
47,947

 
$
44,966

Engineering Services
12,145

 
20,270

 
14,615

Eliminations
(371
)
 
91

 
69

 
$
79,862

 
$
68,308

 
$
59,650

 
 
 
 
 
 
(Loss) income from operations:
 

 
 

 
 

Aerostructures
$
(46,050
)
 
$
15,484

 
$
18,334

Engineering Services
(2,699
)
 
10,480

 
6,522

Eliminations
(371
)
 
91

 
68

 
$
(49,120
)
 
$
26,055

 
$
24,924

 
 
 
 
 
 
Depreciation, amortization and other non-cash charges:
 

 
 

 
 

Aerostructures (1)
$
91,557

 
$
5,532

 
$
6,013

Engineering Services (2)
6,754

 
2,462

 
2,391

  Corporate (3)
$
(7,950
)
 
$
—

 
$
—

 
$
90,361

 
$
7,994

 
$
8,404

 
(1)Includes a $73,528 for goodwill impairment in 2013 and $1,163 charge for impairment of intangible in 2011.
(2)Includes a $4,222 charge for impairment of intangible 2013.
(3)Includes write-off of contingent consideration of $7,950 in 2013.

 
December 31,
 
2013

2012

2011
Interest expense:
 
 
 
 
 
Aerostructures
$
1,054

 
$
23

 
$
5

Engineering Services
53

 
25

 
12

Corporate (1)
15,855

 
1,723

 
652

 
$
16,962

 
$
1,771

 
$
669

 

(1) Includes a $580 charge for deferred financing costs for the closed credit facility in 2012.

 
December 31,
 
2013

2012

2011
Capital expenditures:
 
 
 
 
 
Aerostructures (1)
$
23,600

 
$
18,649

 
$
8,716

Engineering Services
549

 
880

 
1,551

 
$
24,149

 
$
19,529

 
$
10,267

    

(1) Includes $411 and $746 for capital leases in 2013 and 2012, respectively.

 
December 31,
 
2013
 
2012
Total assets:
 

 
 

Aerostructures
$
405,779

 
$
446,902

Engineering
74,272

 
81,062

 
$
480,051

 
$
527,964