Segment Reporting

6 Months Ended

Jul. 31, 2021

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, 2021		July 31, 2020		July 31, 2021		July 31, 2020
Net sales
Applied Technology	$	44,601	$	35,502	$	99,469	$	77,509
Engineered Films	57,087		36,252		105,852		69,650
Aerostar	12,787		13,465		21,674		24,616
Intersegment eliminations(a)	(49)		(40)		(83)		(100)
Consolidated net sales	$	114,426	$	85,179	$	226,912	$	171,675
Operating income(b)
Applied Technology	$	8,505	$	6,511	$	21,692	$	15,450
Engineered Films	12,357		4,465		19,124		6,072
Aerostar	1,962		1,751		2,551		2,044
Intersegment eliminations	5		11		(2)		51
Total reportable segment income	22,829		12,738		43,365		23,617
General and administrative expenses(b)	(14,495)		(6,595)		(23,458)		(13,535)
Consolidated operating income	$	8,334	$	6,143	$	19,907	$	10,082

(a) Intersegment sales for both fiscal 2022 and 2021 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.