Segment Information

6 Months Ended

Jun. 30, 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 and six months ended June30, 2015 and 2014 is as follows:

		(Unaudited)
(Inmillions)		Composite Materials		Engineered Products		Corporate &Other(a)			Total
Second Quarter 2015
Net sales to external customers	......................	$	373.5	$	102.2	$	—		$	475.7
Intersegment sales	..........................................		19.9		—		(19.9	)		—
Total sales	.............................................		393.4		102.2		(19.9	)		475.7
Operating income (a)	......................................		91.2		14.4		(15.0	)		90.6
Depreciation and amortization	.......................		17.3		1.5		0.1			18.9
Stock-based compensation expense	...............		1.1		0.2		1.1			2.4
Accrual basis additions to capital expenditures			71.6		3.4		—			75.0
Second Quarter 2014
Net sales to external customers	......................	$	361.6	$	108.5	$	—		$	470.1
Intersegment sales	..........................................		18.2		0.5		(18.7	)		—
Total sales	.............................................		379.8		109.0		(18.7	)		470.1
Operating income (a)	......................................		79.8		17.6		(22.3	)		75.1
Other operating expense (b)	...........................		—		—		6.0			6.0
Depreciation and amortization	.......................		16.3		1.4		—			17.7
Stock-based compensation expense	...............		0.1		—		2.6			2.7
Accrual basis additions to capital expenditures			62.6		2.2		—			64.8
Six Months Ended June30, 2015
Net sales to external customers	......................	$	740.9	$	206.6	$	—		$	947.5
Intersegment sales	..........................................		40.3		0.1		(40.4	)		—
Total sales	.............................................		781.2		206.7		(40.4	)		947.5
Operating income (a)	......................................		180.4		29.1		(36.3	)		173.2
Depreciation and amortization	.......................		34.0		3.0		0.2			37.2
Stock-based compensation expense	...............		4.7		0.7		9.0			14.4
Accrual basis additions to capital expenditures			133.7		7.8		—			141.5
Six Months Ended June30, 2014
Net sales to external customers	......................	$	717.9	$	213.9	$	—		$	931.8
Intersegment sales	..........................................		36.7		0.6		(37.3	)		—
Total sales	.............................................		754.6		214.5		(37.3	)		931.8
Operating income (a)	......................................		155.7		34.0		(40.0	)		149.7
Other operating expense (b)	...........................		—		—		6.0			6.0
Depreciation and amortization	.......................		31.9		2.8		0.1			34.8
Stock-based compensation expense	...............		3.4		0.7		7.4			11.5
Accrual basis additions to capital expenditures			101.0		3.8		—			104.8

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

(b)Other operating expense for the three and six months ended June30, 2014 reflects an increase in environmental reserves primarily related to a former manufacturing facility in Lodi, New Jersey.

Goodwill and Intangible Assets

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

(Inmillions)		June 30, 2015		December31, 2014
Composite Materials	............................................................	$	43.5	$	43.7
Engineered Products	............................................................		16.0		16.1
Goodwill and intangible assets	............................................	$	59.5	$	59.8

No impairments have been recorded against these amounts.