Segment And Geographic Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment And Geographic Information

Note 17 – Segment and Geographic Information

The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. Intersegment sales are generally recorded at prices that approximate arm’s length transactions. Operating segments’ measure of profitability is based on income from operations. Corporate and intersegment eliminations includes (1) corporate expenses not allocated to the Company’s three reporting segments, which are primarily general and administrative expenses such as corporate employee payroll and benefit costs and corporate facility costs and (2) income from operations on intersegment sales between reporting segments. Corporate functions include legal, finance, tax, treasury, information technology, risk management, human resources, business development and other administrative functions. The accounting policies for the reportable operating segments are

the same as for the Company taken as a whole. The Company has three reportable operating segments: Americas, Asia, and Europe. Information about operating segments is as follows:

	Three Months Ended March 31,
(in thousands)	2022			2021
Net sales:
Americas	$	305,580		$	276,838
Asia		287,246			188,304
Europe		70,341			60,880
Elimination of intersegment sales		(27,084	)		(20,301	)
	$	636,083		$	505,721
Depreciation and amortization:
Americas	$	4,855		$	5,295
Asia		2,547			2,686
Europe		804			712
Corporate		2,691			2,362
	$	10,897		$	11,055
Income from operations:
Americas	$	10,365		$	8,234
Asia		27,806			17,352
Europe		4,638			5,238
Corporate and intersegment eliminations		(27,402	)		(18,890	)
		15,407			11,934
Interest expense		(1,750	)		(2,149	)
Interest income		130			165
Other expense		(294	)		(276	)
Income before income taxes	$	13,493		$	9,674
Capital expenditures:
Americas	$	12,516		$	4,919
Asia		3,928			205
Europe		1,797			286
Corporate		(266	)		1,012
	$	17,975		$	6,422
	March 31,			December 31,
(in thousands)	2022			2021
Total assets:
Americas	$	905,673		$	885,574
Asia		709,841			663,881
Europe		197,079			178,263
Corporate		189,963			176,162
	$	2,002,556		$	1,903,880

Geographic net sales information provided below reflects the destination of the product shipped. Long-lived assets information is based on the physical location of the asset and includes property, plant and equipment, net, operating lease right-of-use assets, and other long-term assets, net.

	Three Months Ended March 31,
(in thousands)	2022		2021
Geographic net sales:
United States	$	329,110	$	297,043
Singapore		105,672		63,157
Other Asia		74,910		38,845
Europe		99,265		75,326
Other		27,126		31,350
	$	636,083	$	505,721
	March 31,		December 31,
(in thousands)	2022		2021
Long-lived assets:
United States	$	237,090	$	240,430
Asia		64,949		65,327
Europe		29,925		29,588
Other		21,106		22,303
	$	353,070	$	357,648