Segment and Geographic Information

The Company is organized into three segments: Solid Capacitors, Film and Electrolytic, and MSA based primarily on product lines. Each segment is responsible for its respective manufacturing operations and research and development efforts. All research and development expenses are direct costs to the respective segment.

Solid Capacitors

Solid Capacitors operates in ten manufacturing sites in the United States, Mexico and Asia, and operates innovation centers in the United States and Japan. Solid Capacitors primarily produces tantalum, aluminum, polymer and ceramic capacitors which are sold globally. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.

Film and Electrolytic

Film and Electrolytic operates in ten manufacturing sites throughout Europe and Asia. Film and Electrolytic primarily produces film, paper, and electrolytic capacitors which are sold globally. In addition, this segment has product innovation centers in Italy, Portugal and Sweden.

MSA

MSA operates in four manufacturing sites throughout Asia. MSA primarily produces EMC materials and devices, piezo materials and actuators and various types of sensors which are sold globally. In addition, this segment has product innovation centers in Sendai and Shiroishi, Japan.

The following tables summarize information about each segment’s net sales, operating income (loss), depreciation and amortization, capital expenditures and total assets (amounts in thousands):



	Fiscal Years Ended March 31,
	2018			2017			2016
Net sales:
Solid Capacitors	$	771,240		$	575,110		$	556,303
Film and Electrolytic	201,722			182,681			178,520
MSA	226,964			—			—
	$	1,199,926		$	757,791		$	734,823
Operating income (loss) ^(1)(2)(3):
Solid Capacitors	$	234,473		$	147,662		$	130,574
Film and Electrolytic	4,073			(8,200		)	138
MSA	15,694			—			—
Corporate	(140,937		)	(103,666		)	(96,879		)
	$	113,303		$	35,796		$	33,833
Depreciation and amortization:
Solid Capacitors	$	27,329		$	20,824		$	21,318
Film and Electrolytic	10,012			10,953			11,984
MSA	4,407			—			—
Corporate	8,007			5,561			5,714
	$	49,755		$	37,338		$	39,016
Capital expenditures:
Solid Capacitors	$	31,249		$	12,300		$	10,098
Film and Electrolytic	12,651			7,955			5,902
MSA	8,481			—			—
Corporate	12,623			5,362			4,469
	$	65,004		$	25,617		$	20,469

_______________________________________________________________________________

⁽¹⁾ Fiscal years 2017 and 2016 adjusted due to the adoption of ASU No. 2017-07.

⁽²⁾ Restructuring charges included in Operating income (loss) were as follows (amounts in thousands):



	Fiscal Years Ended March 31,
	2018		2017		2016
Total restructuring:
Solid Capacitors	$	983	$	1,333	$	1,916
Film and Electrolytic	5,788		3,738		1,714
MSA	3,343		—		—
Corporate	4,729		333		548
	$	14,843	$	5,404	$	4,178

⁽³⁾ Gain (loss) on write down and disposal of long-lived assets included in operating income were as follows (amounts in thousands):



	Fiscal Years Ended March 31,
	2018			2017		2016
(Gain) loss on write down and disposal of long-lived assets
Solid Capacitors	$	689		$	2,303	$	536
Film and Electrolytic	(3,356		)	8,339		(270		)
MSA	1,272			—		—
Corporate	403			29		109
	$	(992	)	$	10,671	$	375



	March 31,
	2018		2017
Total assets:
Solid Capacitors	$	704,851	$	439,281
Film and Electrolytic	236,314		204,407
MSA	254,193		—
Corporate⁽¹⁾	22,911		90,637
	$	1,218,269	$	734,325

_______________________________________________________________________________

⁽¹⁾ March 31, 2017 adjusted due to the adoption of ASU No. 2016-16.

The following highlights net sales by geographic location (amounts in thousands):



	Fiscal Years Ended March 31,⁽¹⁾
	2018		2017		2016
United States	$	233,133	$	198,250	$	201,878
Hong Kong	169,073		121,813		133,117
Germany	105,548		104,755		83,589
Europe ⁽²⁾	63,993		64,316		57,362
China	163,016		71,223		65,043
Taiwan ⁽³⁾	78,728		9,147		8,747
Asia Pacific ⁽²⁾	36,647		26,878		32,426
Japan ⁽³⁾	170,282		3,565		5,251
United Kingdom	37,038		33,837		28,083
Netherlands	39,684		32,478		31,218
Malaysia ⁽³⁾	28,165		15,177		14,990
Singapore	17,267		15,565		16,260
Italy	17,905		15,376		14,391
Hungary	13,254		18,856		17,766
Mexico	23,915		22,424		23,041
Other Countries ⁽²⁾	2,278		4,131		1,661
Total Non-United States	966,793		559,541		532,945
	$	1,199,926	$	757,791	$	734,823

_______________________________________________________________________________

⁽¹⁾ Revenues are attributed to countries or regions based on the location of the customer. Net Sales to one customer, TTI, Inc., exceeded 10% of total net sales as follows: $133.4 million, $104.4 million and $99.3 million in fiscal years 2018, 2017 and 2016, respectively.

⁽²⁾ No country included in this caption exceeded 3% of consolidated net sales for fiscal years 2018, 2017 and 2016.

⁽³⁾ Net sales from these countries were included within Asia Pacific in fiscal years 2017 and 2016 and have been broken out to conform with 2018 presentation.

The following geographic information includes Property, plant and equipment, net, based on physical location (amounts in thousands):



	March 31,
	2018		2017
United States	$	49,530	$	46,387
Japan	79,855		—
Thailand	74,100		—
Mexico	62,503		55,878
Italy	39,398		36,108
China	36,396		23,780
Portugal	29,073		21,637
Macedonia	13,723		12,339
Sweden	6,005		5,851
Other ⁽¹⁾	14,733		7,331
Total Non-United States	355,786		162,924
	$	405,316	$	209,311

_______________________________________________________________________________

⁽¹⁾No country included in this caption exceeded 2% of consolidated Property, plant and equipment net for fiscal years 2018 and 2017.