Business Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, Structural Systems and Electronic Systems, each of which is an operating segment as well as a reportable segment.

Financial information by reportable segment was as follows:

	(In thousands) Years Ended December 31,
	2016			2015			2014
Net Revenues
Structural Systems	$	246,465		$	273,319		$	319,956
Electronic Systems	304,177			392,692			422,089
Total Net Revenues	$	550,642		$	666,011		$	742,045
Segment Operating (Loss) Income (1)
Structural Systems (2)	$	16,497		$	(53,010	)	$	34,949
Electronic Systems (3)	28,983			(4,472		)	34,599
	45,480			(57,482		)	69,548
Corporate General and Administrative Expenses (1)(4)	(16,912		)	(17,827		)	(17,781		)
Operating (Loss) Income	$	28,568		$	(75,309	)	$	51,767
Depreciation and Amortization Expenses
Structural Systems	$	8,688		$	9,417		$	10,959
Electronic Systems	14,087			17,267			17,928
Corporate Administration	85			162			137
Total Depreciation and Amortization Expenses	$	22,860		$	26,846		$	29,024
Capital Expenditures
Structural Systems	$	15,661		$	11,559		$	12,742
Electronic Systems	3,032			4,419			5,782
Corporate Administration	—			10			30
Total Capital Expenditures	$	18,693		$	15,988		$	18,554

(1) Includes cost not allocated to either the Structural Systems or Electronic Systems operating segments.

(2) The results for 2015 included $57.2 million of goodwill impairment charge.

(3) The results for 2015 included $32.9 million of an intangible asset impairment charge.

(4) The results for 2014 included $1.2 million of workers’ compensation insurance expenses included in gross profit and not allocated to the operating segments.

Segment assets include assets directly identifiable with each segment. Corporate assets include assets not specifically identified with a business segment, including cash. The following table summarizes our segment assets for 2016 and 2015:

	(In thousands) December 31,
	2016		2015
Total Assets
Structural Systems	$	175,580	$	179,134
Electronic Systems	325,780		363,227
Corporate Administration	14,069		14,720
Total Assets	$	515,429	$	557,081
Goodwill and Intangibles
Structural Systems	$	3,745	$	4,866
Electronic Systems	180,382		207,595
Total Goodwill and Intangibles	$	184,127	$	212,461

In the first quarter of 2016, we entered into and completed the sale of our Pittsburgh, Pennsylvania and Miltec operations, both of which were part of our Electronic Systems operating segment. See Note 1 for additional information.