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Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
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.

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Net sales

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

366,819

 

 

$

257,602

 

 

$

201,277

 

The Americas

 

 

85,200

 

 

 

70,732

 

 

 

74,192

 

EMEA

 

 

96,126

 

 

 

95,922

 

 

 

91,108

 

Asia-Pacific

 

 

88,876

 

 

 

93,161

 

 

 

99,872

 

Total net sales

 

$

637,021

 

 

$

517,417

 

 

$

466,449

 

 

 

 

 

 

 

 

 

 

 

Intersegment sales

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

9,081

 

 

$

6,176

 

 

$

9,702

 

The Americas

 

 

17,915

 

 

 

9,486

 

 

 

9,938

 

EMEA

 

 

3,280

 

 

 

2,784

 

 

 

3,682

 

Asia-Pacific

 

 

33,652

 

 

 

21,610

 

 

 

14,452

 

Total intersegment sales

 

$

63,928

 

 

$

40,056

 

 

$

37,774

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

 

 

$

 

 

$

 

The Americas

 

 

534

 

 

 

138

 

 

 

112

 

EMEA

 

 

82

 

 

 

4

 

 

 

67

 

Asia-Pacific

 

 

15

 

 

 

27

 

 

 

80

 

Total interest income

 

$

631

 

 

$

169

 

 

$

259

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

(1,138

)

 

$

(665

)

 

$

(741

)

The Americas

 

 

(678

)

 

 

(368

)

 

 

(586

)

EMEA

 

 

(664

)

 

 

(309

)

 

 

(233

)

Asia-Pacific

 

 

(734

)

 

 

(681

)

 

 

(836

)

Total interest expense

 

$

(3,214

)

 

$

(2,023

)

 

$

(2,396

)

 

 

 

 

 

 

 

 

 

 

Income taxes

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

15,285

 

 

$

8,185

 

 

$

6,161

 

The Americas

 

 

3,218

 

 

 

3,250

 

 

 

2,461

 

EMEA

 

 

1,918

 

 

 

1,492

 

 

 

1,768

 

Asia-Pacific

 

 

(1,116

)

 

 

248

 

 

 

420

 

Total income taxes

 

$

19,305

 

 

$

13,175

 

 

$

10,810

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Preformed Line Products Company shareholders

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

45,194

 

 

$

24,384

 

 

$

16,564

 

The Americas

 

 

11,420

 

 

 

8,351

 

 

 

5,068

 

EMEA

 

 

1,379

 

 

 

3,715

 

 

 

6,644

 

Asia-Pacific

 

 

(3,598

)

 

 

(721

)

 

 

1,527

 

Total net income

 

$

54,395

 

 

$

35,729

 

 

$

29,803

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

Expenditure for long-lived assets

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

31,012

 

 

$

12,750

 

 

$

9,536

 

The Americas

 

 

3,702

 

 

 

1,289

 

 

 

3,527

 

EMEA

 

 

2,247

 

 

 

2,785

 

 

 

3,007

 

Asia-Pacific

 

 

3,637

 

 

 

1,560

 

 

 

8,499

 

Total expenditures for long-lived assets

 

$

40,598

 

 

$

18,384

 

 

$

24,569

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

PLP-USA

 

$

7,104

 

 

$

6,195

 

 

$

5,321

 

The Americas

 

 

2,452

 

 

 

1,855

 

 

 

1,710

 

EMEA

 

 

3,354

 

 

 

3,146

 

 

 

2,797

 

Asia-Pacific

 

 

3,520

 

 

 

4,368

 

 

 

4,010

 

Total depreciation and amortization

 

$

16,430

 

 

$

15,564

 

 

$

13,838

 

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

Identifiable assets

 

 

 

 

 

 

PLP-USA

 

$

229,751

 

 

$

177,288

 

The Americas

 

 

108,560

 

 

 

78,766

 

EMEA

 

 

118,805

 

 

 

106,929

 

Asia-Pacific

 

 

111,363

 

 

 

126,035

 

 

 

$

568,479

 

 

$

489,018

 

 

 

 

 

 

 

 

Long-lived assets

 

 

 

 

 

 

PLP-USA

 

$

95,673

 

 

$

71,726

 

The Americas

 

 

20,539

 

 

 

15,663

 

EMEA

 

 

19,764

 

 

 

17,931

 

Asia-Pacific

 

 

39,035

 

 

 

44,454

 

Total long-lived assets

 

$

175,011

 

 

$

149,774