Summary of Company's Reportable Segments |
The following table presents a summary of the Company’s reportable segments for the years ended December 31, 2022, 2021 and 2020. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profits in inventory.
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Year Ended December 31, |
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2022 |
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2021 |
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2020 |
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Net sales |
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PLP-USA |
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$ |
366,819 |
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$ |
257,602 |
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$ |
201,277 |
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The Americas |
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85,200 |
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70,732 |
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74,192 |
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EMEA |
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96,126 |
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95,922 |
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91,108 |
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Asia-Pacific |
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88,876 |
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93,161 |
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99,872 |
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Total net sales |
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$ |
637,021 |
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$ |
517,417 |
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$ |
466,449 |
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Intersegment sales |
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PLP-USA |
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$ |
9,081 |
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$ |
6,176 |
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$ |
9,702 |
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The Americas |
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17,915 |
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9,486 |
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9,938 |
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EMEA |
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3,280 |
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2,784 |
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3,682 |
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Asia-Pacific |
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33,652 |
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21,610 |
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14,452 |
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Total intersegment sales |
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$ |
63,928 |
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$ |
40,056 |
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$ |
37,774 |
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Interest income |
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PLP-USA |
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$ |
— |
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$ |
— |
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$ |
— |
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The Americas |
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534 |
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138 |
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112 |
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EMEA |
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82 |
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4 |
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67 |
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Asia-Pacific |
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15 |
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27 |
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80 |
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Total interest income |
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$ |
631 |
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$ |
169 |
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$ |
259 |
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Interest expense |
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PLP-USA |
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$ |
(1,138 |
) |
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$ |
(665 |
) |
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$ |
(741 |
) |
The Americas |
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(678 |
) |
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(368 |
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(586 |
) |
EMEA |
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(664 |
) |
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(309 |
) |
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(233 |
) |
Asia-Pacific |
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(734 |
) |
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(681 |
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(836 |
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Total interest expense |
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$ |
(3,214 |
) |
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$ |
(2,023 |
) |
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$ |
(2,396 |
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Income taxes |
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PLP-USA |
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$ |
15,285 |
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$ |
8,185 |
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$ |
6,161 |
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The Americas |
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3,218 |
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3,250 |
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2,461 |
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EMEA |
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1,918 |
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1,492 |
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1,768 |
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Asia-Pacific |
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(1,116 |
) |
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248 |
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420 |
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Total income taxes |
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$ |
19,305 |
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$ |
13,175 |
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$ |
10,810 |
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Net income attributable to Preformed Line Products Company shareholders |
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PLP-USA |
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$ |
45,194 |
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$ |
24,384 |
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$ |
16,564 |
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The Americas |
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11,420 |
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8,351 |
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5,068 |
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EMEA |
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1,379 |
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3,715 |
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6,644 |
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Asia-Pacific |
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(3,598 |
) |
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(721 |
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1,527 |
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Total net income |
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$ |
54,395 |
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$ |
35,729 |
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$ |
29,803 |
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2022 |
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2021 |
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2020 |
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Expenditure for long-lived assets |
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PLP-USA |
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$ |
31,012 |
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$ |
12,750 |
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$ |
9,536 |
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The Americas |
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3,702 |
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1,289 |
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3,527 |
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EMEA |
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2,247 |
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2,785 |
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3,007 |
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Asia-Pacific |
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3,637 |
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1,560 |
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8,499 |
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Total expenditures for long-lived assets |
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$ |
40,598 |
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$ |
18,384 |
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$ |
24,569 |
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Depreciation and amortization |
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PLP-USA |
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$ |
7,104 |
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$ |
6,195 |
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$ |
5,321 |
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The Americas |
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2,452 |
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1,855 |
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1,710 |
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EMEA |
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3,354 |
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3,146 |
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2,797 |
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Asia-Pacific |
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3,520 |
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4,368 |
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4,010 |
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Total depreciation and amortization |
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$ |
16,430 |
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$ |
15,564 |
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$ |
13,838 |
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As of December 31, |
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2022 |
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2021 |
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Identifiable assets |
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PLP-USA |
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$ |
229,751 |
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$ |
177,288 |
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The Americas |
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108,560 |
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78,766 |
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EMEA |
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118,805 |
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106,929 |
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Asia-Pacific |
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111,363 |
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126,035 |
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$ |
568,479 |
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$ |
489,018 |
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Long-lived assets |
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PLP-USA |
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$ |
95,673 |
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$ |
71,726 |
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The Americas |
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20,539 |
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15,663 |
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EMEA |
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19,764 |
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17,931 |
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Asia-Pacific |
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39,035 |
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44,454 |
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Total long-lived assets |
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$ |
175,011 |
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$ |
149,774 |
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