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Segment Information (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Operating Segment Reporting Information

Financial information for our operating segments for the quarters and six months ended June 30, 2016 and 2015 is as follows:

 

 

 

(Unaudited)

 

 

 

Composite

 

 

Engineered

 

 

Corporate &

 

 

 

 

 

(In millions

 

Materials

 

 

Products

 

 

Other (a)

 

 

Total

 

Second Quarter 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

425.3

 

 

$

97.3

 

 

$

 

 

$

522.6

 

Intersegment sales

 

 

18.9

 

 

 

 

 

 

(18.9

)

 

 

 

Total sales

 

 

444.2

 

 

 

97.3

 

 

 

(18.9

)

 

 

522.6

 

Operating income

 

 

101.6

 

 

 

11.7

 

 

 

(13.2

)

 

 

100.1

 

Depreciation and amortization

 

 

21.4

 

 

 

1.8

 

 

 

0.1

 

 

 

23.3

 

Stock-based compensation

 

 

1.1

 

 

 

0.3

 

 

 

0.9

 

 

 

2.3

 

Accrual basis additions to capital expenditures

 

 

67.2

 

 

 

1.7

 

 

 

 

 

 

68.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

91.2

 

 

 

14.4

 

 

 

(15.0

)

 

 

90.6

 

Depreciation and amortization

 

 

17.3

 

 

 

1.5

 

 

 

0.1

 

 

 

18.9

 

Stock-based compensation

 

 

1.1

 

 

 

0.2

 

 

 

1.1

 

 

 

2.4

 

Accrual basis additions to capital expenditures

 

 

71.6

 

 

 

3.4

 

 

 

 

 

 

75.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

821.1

 

 

$

199.2

 

 

$

 

 

$

1,020.3

 

Intersegment sales

 

 

37.0

 

 

 

 

 

 

(37.0

)

 

 

 

Total sales

 

 

858.1

 

 

 

199.2

 

 

 

(37.0

)

 

 

1,020.3

 

Operating income

 

 

192.4

 

 

 

23.9

 

 

 

(32.3

)

 

 

184.0

 

Depreciation and amortization

 

 

41.8

 

 

 

3.6

 

 

 

0.1

 

 

 

45.5

 

Stock-based compensation

 

 

4.2

 

 

 

0.9

 

 

 

7.7

 

 

 

12.8

 

Accrual basis additions to capital expenditures

 

 

137.2

 

 

 

5.0

 

 

 

 

 

 

142.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 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

 

 

180.4

 

 

 

29.1

 

 

 

(36.3

)

 

 

173.2

 

Depreciation and amortization

 

 

34.0

 

 

 

3.0

 

 

 

0.2

 

 

 

37.2

 

Stock-based compensation

 

 

4.7

 

 

 

0.7

 

 

 

9.0

 

 

 

14.4

 

Accrual basis additions to capital expenditures

 

 

133.7

 

 

 

7.8

 

 

 

 

 

 

141.5

 

_________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We do not allocate Corporate expenses to the operating segments

Schedule of Goodwill and Intangible Assets by Segment

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

 

(In millions)

 

June 30,
2016

 

 

December 31,
2015

 

Composite Materials

 

$

58.8

 

 

$

42.8

 

Engineered Products

 

 

16.0

 

 

 

16.1

 

Goodwill and intangible assets

 

$

74.8

 

 

$

58.9