XML 36 R23.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Reporting
 6 Months Ended
Jul. 31, 2017
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING

The Company's reportable segments are defined by their product lines which have been grouped in these segments based on technology, manufacturing processes, and end-use application. Raven's reportable segments are Applied Technology, Engineered Films, and Aerostar. The Company measures the performance of its segments based on their operating income excluding general and administrative expenses. Other expense and income taxes are not allocated to individual operating segments, and assets not identifiable to an individual segment are included as corporate assets. Separate financial information is available and regularly evaluated by the Company's chief operating decision-maker (CODM), the President and Chief Executive Officer, in making resource allocation decisions for the Company's reportable segments. Segment information is reported consistent with the Company's management reporting structure.

Business segment net sales and operating income results are as follows:
 
Three Months Ended
 
Six Months Ended
 
July 31,
2017
 
July 31,
2016
 
July 31,
2017
 
July 31,
2016
Net sales
 
 
 
 
 
 
 
Applied Technology
$
28,424

 
$
22,668

 
$
68,914

 
$
54,124

Engineered Films
49,028

 
36,656

 
92,583

 
65,756

Aerostar
9,369

 
8,415

 
18,975

 
16,310

Intersegment eliminations (a)
(211
)
 
(141
)
 
(327
)
 
(232
)
Consolidated net sales
$
86,610

 
$
67,598

 
$
180,145

 
$
135,958

 
 
 
 
 
 
 
 
Operating income (loss)(b)
 
 
 
 
 
 
 
Applied Technology 
$
6,637

 
$
5,172

 
$
20,090

 
$
13,865

Engineered Films
9,551

 
6,659

 
18,271

 
10,537

Aerostar
1,388

 
(251
)
 
2,806

 
(429
)
Intersegment eliminations 
11

 
—

 
9

 
(5
)
Total reportable segment income
17,587

 
11,580

 
41,176

 
23,968

General and administrative expenses(c)
(5,887
)
 
(4,884
)
 
(11,257
)
 
(9,222
)
Consolidated operating income
$
11,700

 
$
6,696

 
$
29,919

 
$
14,746


(a) Intersegment sales for both fiscal 2018 and 2017 were primarily sales from Engineered Films to Aerostar.
(b) At the segment level, operating income (loss) does not include an allocation of general and administrative expenses.
(c) At the segment level, operating income (loss) does not include an allocation of general and administrative expenses and, as a result, "General and administrative expenses" are reported as a deduction from "Total reportable segment income" to reconcile to "Operating income" reported in the Consolidated Statements of Income and Comprehensive Income.