Segment Information

9 Months Ended

Sep. 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 September 30, 2019
Net sales - recognized over time	$	—	$	3,429	$	42,906		$	4,504	$	50,839
Net sales - recognized at a point in time	78,983		91,511		225			284		171,003
Total net sales	$	78,983	$	94,940	$	43,131		$	4,788	$	221,842
Operating income	$	13,778	$	17,995	$	(3,358	)	$	1,470	$	29,885

Three Months Ended September 30, 2018
Net sales - recognized over time	$	—	$	1,790	$	54,797		$	3,067	$	59,654
Net sales - recognized at a point in time	71,854		93,998		425			932		167,209
Total net sales	$	71,854	$	95,788	$	55,222		$	3,999	$	226,863
Operating income	$	8,451	$	15,924	$	4,067		$	1,200	$	29,642

Nine Months Ended September 30, 2019
Net sales - recognized over time	$	—	$	9,400	$	153,827		$	13,421	$	176,648
Net sales - recognized at a point in time	251,982		272,196		780			2,886		527,844
Total net sales	$	251,982	$	281,596	$	154,607		$	16,307	$	704,492
Operating income	$	45,301	$	46,752	$	(976	)	$	4,821	$	95,898

Nine Months Ended September 30, 2018
Net sales - recognized over time	$	—	$	3,731	$	165,248		$	12,332	$	181,311
Net sales - recognized at a point in time	221,685		249,356		1,334			2,463		474,838
Total net sales	$	221,685	$	253,087	$	166,582		$	14,795	$	656,149
Operating income	$	26,946	$	38,505	$	15,328		$	5,131	$	85,910

Information relating to our segment operations by geographic area for the three months ended September 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
September 30, 2019
United States	$	17,671	$	41,232	$	8,115	$	1,237	$	68,255
Other Americas	807		2,452		11		271		3,541
Total Americas	18,478		43,684		8,126		1,508		71,796
China	37,398		26,461		7,642		908		72,409
Other APAC	13,813		14,385		6,269		675		35,142
Total APAC	51,211		40,846		13,911		1,583		107,551
Germany	4,251		3,868		10,528		171		18,818
Other EMEA	5,043		6,542		10,566		1,526		23,677
Total EMEA	9,294		10,410		21,094		1,697		42,495
Total net sales	$	78,983	$	94,940	$	43,131	$	4,788	$	221,842
September 30, 2018
United States	$	12,889	$	37,691	$	10,738	$	1,029	$	62,347
Other Americas	674		8,196		145		138		9,153
Total Americas	13,563		45,887		10,883		1,167		71,500
China	34,798		30,849		10,432		811		76,890
Other APAC	14,962		11,807		6,348		666		33,783
Total APAC	49,760		42,656		16,780		1,477		110,673
Germany	3,515		2,019		15,464		159		21,157
Other EMEA	5,016		5,226		12,095		1,196		23,533
Total EMEA	8,531		7,245		27,559		1,355		44,690
Total net sales	$	71,854	$	95,788	$	55,222	$	3,999	$	226,863


⁽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 nine months ended September 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
September 30, 2019
United States	$	47,014	$	126,067	$	23,800	$	3,606	$	200,487
Other Americas	2,598		6,725		260		668		10,251
Total Americas	49,612		132,792		24,060		4,274		210,738
China	129,220		72,726		29,989		4,374		236,309
Other APAC	44,980		44,407		18,232		2,244		109,863
Total APAC	174,200		117,133		48,221		6,618		346,172
Germany	12,674		10,775		46,780		447		70,676
Other EMEA	15,496		20,896		35,546		4,968		76,906
Total EMEA	28,170		31,671		82,326		5,415		147,582
Total net sales	$	251,982	$	281,596	$	154,607	$	16,307	$	704,492
September 30, 2018
United States	$	39,615	$	111,160	$	27,595	$	3,151	$	181,521
Other Americas	2,257		12,176		826		694		15,953
Total Americas	41,872		123,336		28,421		3,845		197,474
China	100,337		75,714		28,794		3,539		208,384
Other APAC	48,888		29,291		19,891		2,108		100,178
Total APAC	149,225		105,005		48,685		5,647		308,562
Germany	14,588		7,356		46,697		491		69,132
Other EMEA	16,000		17,390		42,779		4,812		80,981
Total EMEA	30,588		24,746		89,476		5,303		150,113
Total net sales	$	221,685	$	253,087	$	166,582	$	14,795	$	656,149

⁽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.