Business Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Business Segments

15. Business Segments

ASC 280, “Segment Reporting,” establishes the standards for reporting information about operating segments in financial statements. The Company organized, managed and reported its global business operations through two geographic segments in the first quarter of 2013. In April 2013, the Company implemented organizational and management changes of its global business operations resulting in four reportable segments associated with geographic regions. In applying the criteria set forth in ASC 280, the Company revised its segment disclosures beginning with the second quarter of 2013 from the two segments, North America and International, to four reportable segments, North America, Europe, South America and Asia Pacific. The Company’s principal product lines within each of these segments are body and chassis products and fluid handling products. 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. Prior periods have been revised to conform to the current period presentation. Due to this segment revision, the Company has also revised the previously reported amounts in Note 3. “Goodwill and Intangibles” to conform to the new segment presentation.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2013			2012			2013
Sales to external customers
North America	$	363,859		$	408,615		$	1,139,273		$	1,191,521
Europe		227,556			258,028			780,780			806,182
South America		39,208			43,069			107,282			138,746
Asia Pacific		53,406			54,345			156,459			159,892
Consolidated	$	684,029		$	764,057		$	2,183,794		$	2,296,341
Intersegment sales
North America	$	1,646			2,121		$	5,979			8,959
Europe		2,107			2,440			6,489			6,837
South America		37			—			159			—
Asia Pacific		2,091			3,013			6,105			7,434
Eliminations and other		(5,881	)		(7,574	)		(18,732	)		(23,230	)
Consolidated	$	—		$	—		$	—		$	—
Segment profit (loss)
North America	$	32,790		$	31,726		$	113,922		$	103,158
Europe		(19,319	)		(7,500	)		(33,442	)		(14,784	)
South America		(1,028	)		(1,838	)		(6,413	)		(5,760	)
Asia Pacific		3,307			2,365			3,447			8,251
Income before income taxes	$	15,750		$	24,753		$	77,514		$	90,865
Restructuring cost included in segment profit (loss)
North America	$	276		$	73		$	755		$	1,961
Europe		9,802			1,517			14,715			5,476
South America		—			—			—			—
Asia Pacific		93			317			288			318
Consolidated	$	10,171		$	1,907		$	15,758		$	7,755

	December 31, 2012		September 30, 2013
Segment assets
North America	$	772,269	$	878,213
Europe		593,340		613,907
South America		145,257		161,792
Asia Pacific		223,801		249,829
Eliminations and other		291,310		189,776
Consolidated	$	2,025,977	$	2,093,517