Segment Reporting

6 Months Ended

Jul. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

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

Business segment financial performance and other information is as follows:

	Three Months Ended				Six Months Ended
	July 31, 2020		July 31, 2019		July 31, 2020		July 31, 2019
Net sales
Applied Technology	$	35,502	$	27,371	$	77,509	$	69,096
Engineered Films	36,252		57,516		69,650		101,808
Aerostar	13,465		13,189		24,616		25,379
Intersegment eliminations(a)	(40)		(18)		(100)		(47)
Consolidated net sales	$	85,179	$	98,058	$	171,675	$	196,236
Operating income(b)
Applied Technology	$	6,511	$	4,849	$	15,450	$	18,085
Engineered Films	4,465		10,150		6,072		16,513
Aerostar	1,751		2,943		2,044		4,939
Intersegment eliminations	11		1		51		2
Total reportable segment income	12,738		17,943		23,617		39,539
General and administrative expenses(b)	(6,595)		(7,373)		(13,535)		(13,848)
Consolidated operating income	$	6,143	$	10,570	$	10,082	$	25,691

^(a) Intersegment sales for both fiscal 2021 and 2020 were primarily sales from Engineered Films to Aerostar.

^(b) At the segment level, operating income 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.