Segment Information (Tables)

3 Months Ended

Mar. 31, 2018

On January 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers. See Note 19, “Revenue from Contracts with Customers” for further information about this adoption. The Company sells products to fabricators and distributors who then sell directly into various end markets. Specifically, end markets within the ACS operating segment include wireless infrastructure, aerospace and defense, auto safety and connectivity, and consumer electronics. End markets within the EMS operating segment include general industrial, portable electronics, mass transit, and automotive. End markets within the PES operating segment include industrial, e-mobility, renewable energy, mass transit, and micro channel coolers. End markets in the Other operating segment include automotive and industrial. The following table presents a disaggregation of revenue from contracts with customers for the periods indicated; inter-segment sales have been eliminated from the net sales data:



(Dollars in thousands)	Advanced Connectivity Solutions		Elastomeric Material Solutions		Power Electronics Solutions		Other		Total
Three Months Ended March 31, 2018
Net sales - recognized over time	$	—	$	1,039	$	57,400	$	4,648	$	63,087
Net sales - recognized at a point in time	73,455		77,044		314		711		151,524
Total net sales	$	73,455	$	78,083	$	57,714	$	5,359	$	214,611
Operating income	$	7,903	$	14,159	$	7,021	$	1,961	$	31,044

Three Months Ended March 31, 2017 ⁽¹⁾
Net sales - recognized over time	$	—	$	667	$	42,273	$	5,096	$	48,036
Net sales - recognized at a point in time	78,528		76,197		379		688		155,792
Total net sales	$	78,528	$	76,864	$	42,652	$	5,784	$	203,828
Operating income	$	19,498	$	12,790	$	4,844	$	1,905	$	39,037

⁽¹⁾For comparison purposes, this table reflects the disaggregation of 2017 revenue in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC 606).

The following table sets forth the operating income reconciliation to the condensed consolidated statements of operations for the periods indicated:



	Three Months Ended
	March 31,
(Dollars in thousands)	2018			2017
Operating income	$	31,044		$	39,037
Equity income in unconsolidated joint ventures	1,007			1,009
Other income (expense), net	66			1,119
Interest expense, net	(1,210		)	(1,248		)
Income before income tax expense	$	30,907		$	39,917

Information relating to our segment operations by geographic area was as follows:



(Dollars in thousands)	Net Sales ⁽¹⁾
Region/Country	Advanced Connectivity Solutions	Elastomeric Material Solutions	Power Electronics Solutions	Other		Total
March 31, 2018
United States	12,278	37,692	8,578	1,257		59,805
Other Americas	826	1,801	358	(170	)	2,815
Total Americas	13,104	39,493	8,936	1,087		62,620
China	33,507	20,794	9,422	1,317		65,040
Other APAC	15,338	9,160	6,451	793		31,742
Total APAC	48,845	29,954	15,873	2,110		96,782
Germany	6,250	2,742	14,710	169		23,871
Other EMEA	5,256	5,894	18,195	1,993		31,338
Total EMEA	11,506	8,636	32,905	2,162		55,209
Total Net sales	73,455	78,083	57,714	5,359		214,611
March 31, 2017
United States	13,220	38,104	8,590	1,215		61,129
Other Americas	567	2,472	303	184		3,526
Total Americas	13,787	40,576	8,893	1,399		64,655
China	37,423	16,915	6,367	1,342		62,047
Other APAC	15,924	9,944	5,119	915		31,902
Total APAC	53,347	26,859	11,486	2,257		93,949
Germany	6,075	2,293	11,935	183		20,486
Other EMEA	5,319	7,136	10,338	1,945		24,738
Total EMEA	11,394	9,429	22,273	2,128		45,224
Total Net sales	78,528	76,864	42,652	5,784		203,828


⁽¹⁾	Net sales are allocated to countries based on the location of the customer. The table above includes countries with 10% or more of net sales for the periods indicated.