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Segment Information (Tables)
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Schedule of Operating Segment Reporting Information

Financial information for our operating segments for the three months ended March 31, 2019 and 2018 were as follows:

 

 

 

(Unaudited)

 

 

 

Composite

 

 

Engineered

 

 

Corporate &

 

 

 

 

 

(In millions

 

Materials

 

 

Products

 

 

Other (a)

 

 

Total

 

First Quarter 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

487.7

 

 

$

122.2

 

 

$

 

 

$

609.9

 

Intersegment sales

 

 

19.2

 

 

 

0.1

 

 

 

(19.3

)

 

 

 

Total sales

 

$

506.9

 

 

$

122.3

 

 

$

(19.3

)

 

$

609.9

 

Operating income

 

 

112.5

 

 

 

14.8

 

 

 

(24.5

)

 

 

102.8

 

Depreciation and amortization

 

 

34.9

 

 

 

3.8

 

 

 

 

 

 

38.7

 

Stock-based compensation

 

 

4.1

 

 

 

0.8

 

 

 

6.2

 

 

 

11.1

 

Accrual basis additions to capital expenditures

 

 

56.8

 

 

 

0.7

 

 

 

 

 

 

57.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

444.6

 

 

$

95.5

 

 

$

 

 

$

540.1

 

Intersegment sales

 

 

19.2

 

 

 

 

 

 

(19.2

)

 

 

 

Total sales

 

$

463.8

 

 

$

95.5

 

 

$

(19.2

)

 

$

540.1

 

Operating income

 

 

91.0

 

 

 

9.9

 

 

 

(18.5

)

 

 

82.4

 

Depreciation and amortization

 

 

27.5

 

 

 

2.3

 

 

 

 

 

 

29.8

 

Stock-based compensation

 

 

3.6

 

 

 

0.7

 

 

 

5.6

 

 

 

9.9

 

Accrual basis additions to capital expenditures

 

 

45.3

 

 

 

 

 

 

 

 

 

45.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

We do not allocate corporate expenses to the operating segments.

Schedule of Goodwill and Intangible Assets by Segment

Goodwill and Intangible Assets

 

 

Composite

 

 

Engineered

 

 

 

 

 

(In millions)

 

Materials

 

 

Products

 

 

Total

 

Balance at December 31, 2018

 

$

98.2

 

 

$

44.1

 

 

$

142.3

 

Amortization Expense

 

 

0.5

 

 

1.2

 

 

 

1.7

 

Additions

 

 

                               —

 

 

 

145.8

 

 

 

145.8

 

Currency translation adjustments

 

 

(2.1

)

 

 

(1.5

)

 

 

(3.6

)

Balance at March 31, 2019

 

$

96.6

 

 

$

189.6

 

 

$

286.2