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Segments
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segments
Segments

The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. Supply Technologies provides our customers with Total Supply Management™ services for a broad range of high-volume, specialty production components. Total Supply Management™ manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation, and includes such services as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing services and ongoing technical support. Assembly Components manufactures cast aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems and fuel filler and hydraulic fluid assemblies. Assembly Components also provides value-added services such as design and engineering, machining and assembly. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of high quality products engineered for specific customer applications, such as induction heating and melting systems, pipe threading equipment, machined locomotive crankshafts and camshafts and various forged and machined products. Engineered Products also produces and provides services and spare parts for the equipment it manufactures.

The Company primarily evaluates performance and allocates resources based on segment operating income as well as projected future performance. Segment operating income is defined as revenues less expenses identifiable to the product lines included within each segment. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs that are not attributable to the segments and net interest expense.

Results by business segment were as follows:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
(In millions)
Net sales:
 
 
 
 
 
 
 
Supply Technologies
$
150.2

 
$
142.4

 
$
301.6

 
$
276.8

Assembly Components
139.8

 
122.0

 
280.3

 
230.1

Engineered Products
87.3

 
78.9

 
170.1

 
154.2

 
$
377.3

 
$
343.3

 
$
752.0

 
$
661.1

Income before income taxes:
 
 
 
 
 
 
 
Supply Technologies
$
13.0

 
$
10.4

 
$
27.2

 
$
20.5

Assembly Components
13.6

 
12.2

 
24.2

 
20.3

Engineered Products
5.2

 
10.7

 
11.4

 
21.3

Total segment operating income
31.8

 
33.3

 
62.8

 
62.1

Corporate costs
(6.2
)
 
(7.2
)
 
(12.9
)
 
(13.8
)
Interest expense
(6.9
)
 
(6.6
)
 
(13.7
)
 
(12.9
)
Income before income taxes
$
18.7

 
$
19.5

 
$
36.2

 
$
35.4


 
June 30, 2015
 
December 31, 2014
 
(In millions)
Identifiable assets:
 
 
 
Supply Technologies
$
288.7

 
$
277.6

Assembly Components
347.7

 
340.5

Engineered Products
248.3

 
246.9

General corporate
113.9

 
109.2

 
$
998.6

 
$
974.2