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Operating Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Operating Segment Information Operating Segment Information
Our reporting structure is comprised of the following strategic operating segments: ACS, Elastomeric Material Solutions (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.
Our ACS operating segment designs, develops, manufactures and sells circuit materials and solutions enabling high-performance and high-reliability connectivity for applications in wireless infrastructure (e.g., power amplifiers, antennas and small cells), automotive (e.g., ADAS, telematics and thermal solutions), aerospace and defense (e.g. antenna systems, communication systems and phased array radar systems), connected devices (e.g., mobile internet devices and thermal solutions) and wired infrastructure (e.g., computing and IP infrastructure) markets.
Our EMS operating segment designs, develops, manufactures and sells engineered material solutions for a wide variety of applications and markets. These include polyurethane and silicone materials used in cushioning, gasketing and sealing, and vibration management applications for general industrial, portable electronics, automotive, electric and hybrid electric vehicles (EV/HEV), mass transit, aerospace and defense, footwear and impact mitigation and printing markets; customized silicones used in flex heater and semiconductor thermal applications for general industrial, portable electronics, automotive, EV/HEV,
mass transit, aerospace and defense and medical markets; polytetrafluoroethylene and ultra-high molecular weight polyethylene materials used in wire and cable protection, electrical insulation, conduction and shielding, hose and belt protection, vibration management, cushioning, gasketing and sealing, and venting applications for general industrial, automotive, EV/HEV and aerospace and defense markets.
Our PES operating segment designs, develops, manufactures and sells ceramic substrate materials, busbars and cooling solutions for a variety of applications in EV/HEV, mass transit, clean energy (i.e. variable frequency drives, renewable energy), general industrial, aerospace and defense and wired infrastructure markets. We sell our ceramic substrate materials and cooling solutions under the curamik® trade name and our busbars under the ROLINX® trade name.
Our Other operating segment consists of elastomer components for applications in general industrial market, as well as elastomer floats for level sensing in fuel tanks, motors, and storage tanks applications in the general industrial and automotive markets. We sell our elastomer components under our ENDUR® trade name and our floats under our NITROPHYL® trade name.
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 SolutionsElastomeric Material SolutionsPower Electronics SolutionsOtherTotal
Three Months Ended September 30, 2020
Net sales - recognized over time$219 $2,612 $47,827 $3,568 $54,226 
Net sales - recognized at a point in time63,495 83,832 100 291 147,718 
Total net sales$63,714 $86,444 $47,927 $3,859 $201,944 
Operating income (loss)$4,981 $7,372 $(4,691)$1,132 $8,794 
Three Months Ended September 30, 2019
Net sales - recognized over time$— $3,429 $42,906 $4,504 $50,839 
Net sales - recognized at a point in time78,983 91,511 225 284 171,003 
Total net sales$78,983 $94,940 $43,131 $4,788 $221,842 
Operating income (loss)$13,778 $17,995 $(3,358)$1,470 $29,885 
Nine Months Ended September 30, 2020
Net sales - recognized over time$219 $8,106 $139,288 $10,295 $157,908 
Net sales - recognized at a point in time198,988 233,490 580 945 434,003 
Total net sales$199,207 $241,596 $139,868 $11,240 $591,911 
Operating income (loss)$26,067 $21,884 $(3,929)$3,339 $47,361 
Nine Months Ended September 30, 2019
Net sales - recognized over time$— $9,400 $153,827 $13,421 $176,648 
Net sales - recognized at a point in time251,982 272,196 780 2,886 527,844 
Total net sales$251,982 $281,596 $154,607 $16,307 $704,492 
Operating income (loss)$45,301 $46,752 $(976)$4,821 $95,898 
Net sales by operating segment and by geographic area were as follows:
(Dollars in thousands)
Net Sales(1)
Region/CountryAdvanced Connectivity SolutionsElastomeric Material SolutionsPower Electronics SolutionsOtherTotal
Three Months Ended September 30, 2020
United States$18,058 $29,733 $5,901 $980 $54,672 
Other Americas497 2,517 36 144 3,194 
Total Americas18,555 32,250 5,937 1,124 57,866 
China26,641 34,016 11,229 754 72,640 
Other APAC11,588 11,150 4,633 530 27,901 
Total APAC38,229 45,166 15,862 1,284 100,541 
Germany1,973 5,450 12,074 99 19,596 
Other EMEA4,957 3,578 14,054 1,352 23,941 
Total EMEA6,930 9,028 26,128 1,451 43,537 
Total net sales$63,714 $86,444 $47,927 $3,859 $201,944 
Three Months Ended September 30, 2019
United States$17,671 $41,232 $8,115 $1,237 $68,255 
Other Americas807 2,452 11 271 3,541 
Total Americas18,478 43,684 8,126 1,508 71,796 
China37,398 26,461 7,642 908 72,409 
Other APAC13,813 14,385 6,269 675 35,142 
Total APAC51,211 40,846 13,911 1,583 107,551 
Germany4,251 3,868 10,528 171 18,818 
Other EMEA5,043 6,542 10,566 1,526 23,677 
Total EMEA9,294 10,410 21,094 1,697 42,495 
Total net sales$78,983 $94,940 $43,131 $4,788 $221,842 
(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.
(Dollars in thousands)
Net Sales(1)
Region/CountryAdvanced Connectivity SolutionsElastomeric Material SolutionsPower Electronics SolutionsOtherTotal
Nine Months Ended September 30, 2020
United States$49,907 $98,373 $19,562 $2,666 $170,508 
Other Americas2,122 6,634 222 503 9,481 
Total Americas52,029 105,007 19,784 3,169 179,989 
China86,846 72,550 28,657 2,003 190,056 
Other APAC35,482 33,938 13,857 1,531 84,808 
Total APAC122,328 106,488 42,514 3,534 274,864 
Germany8,354 13,883 40,829 292 63,358 
Other EMEA16,496 16,218 36,741 4,245 73,700 
Total EMEA24,850 30,101 77,570 4,537 137,058 
Total net sales$199,207 $241,596 $139,868 $11,240 $591,911 
Nine Months Ended September 30, 2019
United States$47,014 $126,067 $23,800 $3,606 $200,487 
Other Americas2,598 6,725 260 668 10,251 
Total Americas49,612 132,792 24,060 4,274 210,738 
China129,220 72,726 29,989 4,374 236,309 
Other APAC44,980 44,407 18,232 2,244 109,863 
Total APAC174,200 117,133 48,221 6,618 346,172 
Germany12,674 10,775 46,780 447 70,676 
Other EMEA15,496 20,896 35,546 4,968 76,906 
Total EMEA28,170 31,671 82,326 5,415 147,582 
Total net sales$251,982 $281,596 $154,607 $16,307 $704,492 
(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.
Revenue from Contracts with Customers
We have contract assets primarily related to unbilled revenue for revenue recognized related to products that are deemed to have no alternative use whereby we have the right to payment. Revenue is recognized in advance of billing to the customer in these circumstances as billing is typically performed at the time of shipment to the customer. The unbilled revenue is included in contract assets on the condensed consolidated statements of financial position.
Contract assets by operating segment were as follows:
(Dollars in thousands)September 30, 2020December 31, 2019
Advanced Connectivity Solutions$186 $— 
Elastomeric Material Solutions1,090 1,077 
Power Electronics Solutions19,132 19,471 
Other1,653 1,907 
Total contract assets$22,061 $22,455 
We did not have any contract liabilities as of September 30, 2020 or December 31, 2019. No impairment losses were recognized for either of the three or nine-month periods ended September 30, 2020 and 2019, respectively, on any receivables or contract assets arising from our contracts with customers.