Segment Information

12 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

Segment Information

2.  Segment Information

Orbital's products and services are grouped into three reportable business segments:  launch vehicles, satellites and space systems and advanced space programs.  Reportable segments are generally organized based upon product lines.  Corporate office transactions that have not been attributed to a particular segment, as well as consolidating eliminations and adjustments, are reported in corporate and other.  The primary products and services from which the company's reportable segments derive revenues are:

● Launch Vehicles - Rockets that are used as small- and medium-class space launch vehicles that place satellites into Earth orbit and escape trajectories, interceptor and target vehicles for missile defense systems and suborbital launch vehicles that place payloads into a variety of high-altitude trajectories.

● Satellites and Space Systems - Small- and medium-class satellites that are used to enable global and regional communications and broadcasting, conduct space-related scientific research, collect imagery and other remotely-sensed data about the Earth, carry out interplanetary and other deep-space exploration missions, and demonstrate new space technologies.

● Advanced Space Programs - Human-rated space systems for Earth-orbit and deep-space exploration, and small- and medium-class satellites used for national security space programs and to demonstrate new space technologies, and advanced flight systems for atmospheric and space missions.

Intersegment sales are generally negotiated and accounted for under terms and conditions that are similar to other commercial and government contracts.  Substantially all of the company's assets and operations are located within the United States.

The following table presents operating information and identifiable assets by reportable segment (in thousands):

	Years Ended December 31,
	2013			2012			2011
Launch Vehicles:
Revenues	$	551,709		$	527,287		$	483,177
Operating income		48,831			36,131			14,147
Identifiable assets		195,294			206,194			210,642
Capital expenditures		8,882			26,066			27,999
Depreciation and amortization		17,990			15,891			14,293
Satellites and Space Systems:
Revenues	$	387,505		$	496,152		$	553,797
Operating income		33,938			46,222			37,623
Identifiable assets		288,343			278,008			282,344
Capital expenditures		18,359			16,345			12,433
Depreciation and amortization		8,366			8,563			6,841
Advanced Space Programs:
Revenues	$	469,400		$	470,102		$	434,036
Operating income		30,776			32,309			28,024
Identifiable assets		448,015			390,059			254,769
Capital expenditures		4,652			5,781			13,515
Depreciation and amortization		8,872			6,575			5,033
Corporate and Other:
Revenues (1)	$	(43,343	)	$	(56,772	)	$	(125,087	)
Operating loss (2)		-			(2,091	)		-
Identifiable assets		353,109			337,193			383,045
Capital expenditures		3,762			3,983			5,868
Depreciation and amortization		6,251			6,310			6,572
Consolidated:
Revenues	$	1,365,271		$	1,436,769		$	1,345,923
Operating income		113,545			112,571			79,794
Identifiable assets		1,284,761			1,211,454			1,130,800
Capital expenditures		35,655			52,175			59,815
Depreciation and amortization		41,479			37,339			32,739

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(1) Corporate and other revenues are comprised solely of the elimination of intersegment revenues.  Intersegment revenues are summarized as follows (in millions):

	Years Ended December 31,
	2013		2012		2011
Launch Vehicles	$	38.2	$	50.2	$	118.3
Satellites and Space Systems		4.1		5.7		5.6
Advanced Space Programs		1.0		0.9		1.2
Total intersegment revenues	$	43.3	$	56.8	$	125.1

(2) The corporate and other operating loss in 2012 is comprised solely of unallocated professional fees and other costs related to a potential acquisition that was not consummated.