Segment Information

6 Months Ended

Jun. 30, 2019

Note 15 – Segment Information

Our reporting structure is comprised of the following strategic operating segments: ACS, EMS and PES. The remaining operations, which represent our non-core businesses, are reported in the Other operating segment. We believe this structure aligns our external reporting presentation with how we currently manage and view our business internally.

On January 1, 2018, we adopted Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. For additional information regarding the impacts of this accounting guidance, refer to “Note 16 – Revenue from Contracts with Customers.” We sell products to fabricators and distributors who then sell directly into various end markets. End markets within our ACS operating segment include wireless infrastructure, aerospace and defense, automotive, connected devices, wired infrastructure and consumer electronics. End markets within our EMS operating segment include portable electronics, mass transit, automotive, consumer and general industrial. End markets within our PES operating segment include e-mobility, industrial, renewable energy, mass transit, and micro channel coolers. End markets in our Other operating segment include automotive and industrial.

The following table presents a disaggregation of revenue from contracts with customers and other pertinent financial information, 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 June 30, 2019
Net sales - recognized over time	$	—	$	2,965	$	51,319		$	4,313	$	58,597
Net sales - recognized at a point in time	92,529		90,929		343			454		184,255
Total net sales	$	92,529	$	93,894	$	51,662		$	4,767	$	242,852
Operating income	$	18,458	$	15,326	$	(1,884	)	$	1,313	$	33,213

Three Months Ended June 30, 2018
Net sales - recognized over time	$	—	$	907	$	53,052		$	4,616	$	58,575
Net sales - recognized at a point in time	76,376		78,309		595			820		156,100
Total net sales	$	76,376	$	79,216	$	53,647		$	5,436	$	214,675
Operating income	$	10,594	$	8,421	$	4,239		$	1,970	$	25,224

Six Months Ended June 30, 2019
Net sales - recognized over time	$	—	$	5,971	$	110,921		$	8,917	$	125,809
Net sales - recognized at a point in time	172,999		180,685		555			2,602		356,841
Total net sales	$	172,999	$	186,656	$	111,476		$	11,519	$	482,650
Operating income	$	31,522	$	28,757	$	2,383		$	3,351	$	66,013

Six Months Ended June 30, 2018
Net sales - recognized over time	$	—	$	1,941	$	110,451		$	9,265	$	121,657
Net sales - recognized at a point in time	149,831		155,358		909			1,531		307,629
Total net sales	$	149,831	$	157,299	$	111,360		$	10,796	$	429,286
Operating income	$	18,496	$	22,581	$	11,260		$	3,932	$	56,269

Information relating to our segment operations by geographic area for the three months ended June 30, 2019 and 2018 was as follows:



(Dollars in thousands)	Net Sales ⁽¹⁾
Region/Country	Advanced Connectivity Solutions		Elastomeric Material Solutions		Power Electronics Solutions		Other		Total
June 30, 2019
United States	$	16,272	$	41,370	$	8,208	$	1,079	$	66,929
Other Americas	1,039		2,190		229		206		3,664
Total Americas	17,311		43,560		8,437		1,285		70,593
China	49,333		23,846		11,283		953		85,415
Other APAC	17,026		15,534		6,625		760		39,945
Total APAC	66,359		39,380		17,908		1,713		125,360
Germany	3,951		3,471		14,305		130		21,857
Other EMEA	4,908		7,483		11,012		1,639		25,042
Total EMEA	8,859		10,954		25,317		1,769		46,899
Total net sales	$	92,529	$	93,894	$	51,662	$	4,767	$	242,852
June 30, 2018
United States	$	14,447	$	35,777	$	8,279	$	866	$	59,369
Other Americas	758		2,179		323		725		3,985
Total Americas	15,205		37,956		8,602		1,591		63,354
China	32,032		24,071		8,940		1,410		66,453
Other APAC	18,588		8,324		7,092		649		34,653
Total APAC	50,620		32,395		16,032		2,059		101,106
Germany	4,823		2,595		16,524		163		24,105
Other EMEA	5,728		6,270		12,489		1,623		26,110
Total EMEA	10,551		8,865		29,013		1,786		50,215
Total net sales	$	76,376	$	79,216	$	53,647	$	5,436	$	214,675


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

Information relating to our segment operations by geographic area for the six months ended June 30, 2019 and 2018 was as follows:



(Dollars in thousands)	Net Sales ⁽¹⁾
Region/Country	Advanced Connectivity Solutions		Elastomeric Material Solutions		Power Electronics Solutions		Other		Total
June 30, 2019
United States	$	29,343	$	84,835	$	15,685	$	2,369	$	132,232
Other Americas	1,791		4,273		249		397		6,710
Total Americas	31,134		89,108		15,934		2,766		138,942
China	91,822		46,265		22,347		3,466		163,900
Other APAC	31,167		30,022		11,963		1,569		74,721
Total APAC	122,989		76,287		34,310		5,035		238,621
Germany	8,423		6,907		36,252		276		51,858
Other EMEA	10,453		14,354		24,980		3,442		53,229
Total EMEA	18,876		21,261		61,232		3,718		105,087
Total net sales	$	172,999	$	186,656	$	111,476	$	11,519	$	482,650
June 30, 2018
United States	$	26,725	$	73,469	$	16,857	$	2,123	$	119,174
Other Americas	1,584		3,980		681		555		6,800
Total Americas	28,309		77,449		17,538		2,678		125,974
China	65,539		44,865		18,362		2,727		131,493
Other APAC	33,926		17,484		13,543		1,442		66,395
Total APAC	99,465		62,349		31,905		4,169		197,888
Germany	11,073		5,337		31,234		332		47,976
Other EMEA	10,984		12,164		30,683		3,617		57,448
Total EMEA	22,057		17,501		61,917		3,949		105,424
Total net sales	$	149,831	$	157,299	$	111,360	$	10,796	$	429,286

⁽¹⁾

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