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Segment Information
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Segment Information
Segment Information
In the first quarter of 2018, TriMas realigned its reporting structure into three reportable segments: Packaging, Aerospace, and Specialty Products. Each of these segments has discrete financial information that is regularly evaluated by TriMas' president and chief executive officer (chief operating decision maker) in determining resource, personnel and capital allocation, as well as assessing strategy and performance. The Company utilizes its proprietary TriMas Business Model as a standardized set of processes to manage and drive results and strategy across its multi-industry businesses.
Within the Company's reportable segments, there are no individual products or product families for which reported net sales accounted for more than 10% of the Company's consolidated net sales. See below for more information regarding the types of products and services provided within each reportable segment:
Packaging – The Packaging segment, which consists primarily of the Rieke® brand, develops and manufactures specialty dispensing and closure products for the health, beauty and home care, food and beverage, and industrial markets.
Aerospace – The Aerospace segment, which includes the Monogram Aerospace Fasteners, Allfast Fastening Systems®, Mac Fasteners and Martinic Engineering brands, develops, qualifies and manufactures highly-engineered, precision fasteners and machined products to serve the aerospace market.
Specialty Products – The Specialty Products segment, which includes the Norris Cylinder, Lamons® and Arrow® Engine brands, designs, manufactures and distributes highly-engineered steel cylinders, sealing and fastener products, and wellhead engines and compression systems for use within the industrial, petrochemical, and oil and gas exploration and refining markets.
Segment activity is as follows (dollars in thousands):
 
 
Three months ended
June 30,
 
Six months ended
June 30,
 
 
2018
 
2017
 
2018
 
2017
Net Sales
 
 
 
 
 
 
 
 
Packaging
 
$
95,090

 
$
88,740

 
$
183,290

 
$
169,700

Aerospace
 
45,620

 
47,580

 
91,430

 
93,000

Specialty Products
 
84,200

 
77,050

 
167,290

 
150,500

Total
 
$
224,910

 
$
213,370

 
$
442,010

 
$
413,200

Operating Profit (Loss)
 
 
 
 
 
 
 
 
Packaging
 
$
22,810

 
$
21,590

 
$
42,390

 
$
38,490

Aerospace
 
7,310

 
6,990

 
12,390

 
12,050

Specialty Products
 
9,240

 
5,260

 
18,890

 
6,770

Corporate(a)
 
(7,840
)
 
(7,420
)
 
(6,940
)
 
(14,980
)
Total
 
$
31,520

 
$
26,420

 
$
66,730

 
$
42,330


__________________________
(a)
During the first quarter of 2018, the Company removed an obligation from its balance sheet, resulting in an approximate $8.2 million non-cash reduction in selling, general and administrative expenses. See Note 10, "Commitments and Contingencies," for further details.