XML 63 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Segments
 12 Months Ended
Dec. 31, 2012
Business Segments [Abstract]  
Business Segments

20. Business Segments

ASC 280, “Segment Reporting,” establishes the standards for reporting information about operating segments in financial statements. In applying the criteria set forth in ASC 280, the Company has determined that it operates in two segments, North America and International. The Company’s principal product lines within each of these segments are body and chassis products and fluid handling products.

The accounting policies of the Company’s business segments are consistent with those described in Note 2. “Significant Accounting Policies.” The Company evaluates segment performance based on segment profit before tax. The results of each segment include certain allocations for general, administrative, interest, and other shared costs. Intersegment sales are conducted at market prices. Segment assets are calculated based on a moving average over several quarters and exclude corporate assets, goodwill, intangible assets, deferred taxes, and certain other assets.

 

The following table details information on the Company’s business segments:

 

                                     
    Predecessor          Successor  
    Five Months Ended
May 31, 2010		          Seven Months Ended
December 31, 2010		     Year Ended December 31,  
          2011     2012  

Sales to external customers

                                    

North America

   $ 508,738         $ 739,419     $ 1,417,281     $ 1,503,736  

International

     500,390           665,600       1,436,228       1,377,166  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 1,009,128         $ 1,405,019     $ 2,853,509     $ 2,880,902  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Intersegment sales

                                    

North America

   $ 1,757         $ 2,640     $ 7,939     $ 8,157  

International

     3,206           4,488       8,457       13,414  

Eliminations and other

     (4,963 )          (7,128 )      (16,396 )      (21,571 ) 
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ -         $ -     $ -     $ -  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Segment profit (loss)

                                    

North America

   $ 233,526         $ 58,004     $ 158,178     $ 136,456  

International

     86,428           (11,784 )      (60,915 )      (69,171 ) 
   

 

 

        

 

 

    

 

 

    

 

 

  

Income before income taxes

   $ 319,954         $ 46,220     $ 97,263     $ 67,285  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Restructuring cost included in segment profit (loss)

                                    

North America

   $ 851         $ 485     $ 6,250     $ 856  

International

     5,042           3       45,956       27,907  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 5,893         $ 488     $ 52,206     $ 28,763  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Net interest expense included in segment profit

                                    

North America

   $ 22,181         $ 12,593     $ 17,142     $ 17,011  

International

     22,324           12,424       23,417       27,751  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 44,505         $ 25,017     $ 40,559     $ 44,762  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Depreciation and amortization expense

                                    

North America

   $ 18,843         $ 35,559     $ 60,898     $ 59,375  

International

     16,809           31,110       63,176       63,356  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 35,652         $ 66,669     $ 124,074     $ 122,731  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Capital expenditures

                                    

North America

   $ 9,120         $ 21,197     $ 41,822     $ 58,326  

International

     11,542           29,366       57,227       65,831  

Eliminations and other

     2,273           3,878       9,290       3,910  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 22,935         $ 54,441     $ 108,339     $ 128,067  
   

 

 

        

 

 

    

 

 

    

 

 

  
           

Segment assets

                                    

North America

                       $ 752,082     $ 772,269  

International

                         1,020,410       962,398  

Eliminations and other

                         231,296       291,310  
                       

 

 

    

 

 

  

Consolidated

                       $ 2,003,788     $ 2,025,977  
                       

 

 

    

 

 

  

 

Geographic information for revenues, based on country of origin, and long-lived assets is as follows:

 

                                     
    Predecessor          Successor  
    Five Months  Ended
May 31, 2010		          Seven Months  Ended
December 31, 2010		     Year Ended December 31,  
          2011     2012  

Revenues

                                    

United States

   $ 277,109         $ 382,089     $ 752,627     $ 802,079  

Canada

     102,863           141,988       281,560       275,386  

Mexico

     128,766           215,342       383,094       426,272  

Germany

     118,314           149,404       293,293       243,853  

France

     54,617           73,272       303,925       322,499  

Other

     327,459           442,924       839,010       810,813  
   

 

 

        

 

 

    

 

 

    

 

 

  

Consolidated

   $ 1,009,128         $ 1,405,019     $ 2,853,509     $ 2,880,902  
   

 

 

        

 

 

    

 

 

    

 

 

  

Tangible long-lived assets

                                    

United States

                       $ 133,778     $ 137,418  

Canada

                         45,687       47,978  

Mexico

                         50,344       55,722  

Germany

                         111,665       110,937  

France

                         74,227       65,775  

Other

                         204,016       210,778  
                       

 

 

    

 

 

  

Consolidated

                       $ 619,717     $ 628,608  
                       

 

 

    

 

 

  

Sales to customers of the Company which contributed ten percent or more of its total consolidated sales and the related percentage of consolidated Company sales for 2010, 2011 and 2012 are as follows:

 

                         
Customer   2010
Percentage of
Combined
Net Sales		     2011
Percentage  of
Combined
Net Sales		     2012
Percentage  of
Combined
Net Sales		  

Ford

     28 %      26 %      25 % 

General Motors

     16 %      14 %      13 % 

Fiat/Chrysler

     12 %      11 %      12 %