Segment Information

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segment Information

Note 9 — Segment Information

The financial results for our operating segments are prepared using a management approach, which is consistent with the basis and manner in which we internally segregate financial information for the purpose of assisting in making internal operating decisions. We evaluate the performance of our operating segments based on operating income, and generally account for intersegment sales based on arm’s length prices. Corporate and certain other expenses are not allocated to the operating segments, except to the extent that the expense can be directly attributable to the business segment.

Financial information for our operating segments for the quarters ended March 31, 2015 and 2014 is as follows:

	(Unaudited)
(In millions)	Composite Materials		Engineered Products		Corporate & Other (a)			Total
First Quarter 2015
Net sales to external customers	$	367.4	$	104.4	$	—		$	471.8
Intersegment sales		20.4		0.1		(20.5	)		—
Total sales		387.8		104.5		(20.5	)		471.8
Operating income (a)		89.2		14.7		(21.3	)		82.6
Depreciation and amortization		16.7		1.5		0.1			18.3
Stock-based compensation expense		3.6		0.5		7.9			12.0
Accrual basis additions to capital expenditures		62.1		4.4		—			66.5
First Quarter 2014
Net sales to external customers	$	356.3	$	105.4	$	—		$	461.7
Intersegment sales		18.5		0.1		(18.6	)		—
Total sales		374.8		105.5		(18.6	)		461.7
Operating income (a)		75.9		16.4		(17.7	)		74.6
Depreciation and amortization		15.6		1.4		0.1			17.1
Stock-based compensation expense		3.3		0.7		4.8			8.8
Accrual basis additions to capital expenditures		38.4		1.6		—			40.0

(a) We do not allocate corporate expenses to the operating segments.     

Goodwill and Intangible Assets

The carrying amount of gross goodwill and intangible assets by segment is as follows:

(In millions)	March 31, 2015		December 31, 2014
Composite Materials	$	43.0	$	43.7
Engineered Products		16.1		16.1
Goodwill and intangible assets	$	59.1	$	59.8

No impairments have been recorded against these amounts.