Major Customers and Concentrations of Credit Risk

12 Months Ended

Dec. 31, 2016

Major Customers and Concentrations of Credit Risk

We provide proprietary products and services to the Department of Defense and various United States Government agencies, and most of the aerospace and aircraft manufacturers who receive contracts directly from the U.S. Government as an original equipment manufacturer (“prime manufacturers”). In addition, we also service technology-driven markets in the industrial, medical and other end-use markets. As a result, we have significant net revenues from certain customers. Accounts receivable were diversified over a number of different commercial, military and space programs and were made by both operating segments. Net revenues from our top ten customers, including the Boeing Company (“Boeing”), Raytheon Company (“Raytheon”), Spirit AeroSystems Holdings, Inc. (“Spirit”), and United Technologies Corporation (“United Technologies”), represented the following percentages of total net sales:



	Years Ended December 31,
	2016		2015		2014
Boeing	17.3	%	16.0	%	19.4	%
Raytheon	8.4	%	8.7	%	9.4	%
Spirit	8.2	%	7.4	%	6.4	%
United Technologies	6.0	%	6.1	%	5.5	%
Top ten customers⁽¹⁾	58.6	%	55.7	%	59.2	%

(1) Includes the Boeing, Raytheon, Spirit, and United Technologies.

Boeing, Raytheon, Spirit, and United Technologies represented the following percentages of total accounts receivable:



	December 31,
	2016		2015
Boeing	7.8	%	13.3	%
Raytheon	10.9	%	11.5	%
Spirit	9.0	%	7.1	%
United Technologies	7.8	%	5.0	%

In 2016, 2015 and 2014, net revenues from foreign customers based on the location of the customer were $56.4 million, $60.2 million and $66.7 million, respectively. No net revenues from a foreign country were greater than 3.0% of total net revenues in 2016, 2015, and 2014. We have manufacturing facilities in Thailand and Mexico. Our net revenues, profitability and identifiable long-lived assets attributable to foreign revenues activity were not material compared to our net revenues, profitability and identifiable long-lived assets attributable to our domestic operations during 2016, 2015, and 2014. We are not subject to any significant foreign currency risks as all our sales are made in United States dollars.