Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

11) Segment Information

We determined our reportable segments under the provisions of U.S. GAAP related to disclosures about segments of an enterprise. Our three reportable segments are based on differences in product lines and are as follows:

Metal Bearing Components Segment

• Erwin Plant

• Mountain City Plant

• Pinerolo Plant

• Veenendaal Plant

• Kysucke Plant

• Kunshan Plant

Plastic and Rubber Components Segment

• Danielson Plant

• Lubbock Plant

Precision Metal Components Segment

• Wellington Plant 1

• Wellington Plant 2

All of the facilities in the Metal Bearing Components Segment are engaged in the production of precision steel balls, steel rollers, and metal retainers and automotive specialty products used primarily in the bearing industry. The Plastic and Rubber Components Segment facilities are engaged in the production of plastic retainers for bearing components, automotive components, electronic instrument cases and other molded components used in a variety of industrial and consumer applications and precision rubber bearing seals for the bearing, automotive, industrial, agricultural, and aerospace markets. The Precision Metal Components Segment is engaged in the production of highly engineered precision metal components and subassemblies including, highly engineered shafts, mechanical components, complex precision assembled and tested parts and fluid system components for the automotive, HVAC, fluid power, and diesel engine industries.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. In order to enhance the analysis of segment operating performance, from the third quarter of 2013 interest costs that were previously allocated to certain segments will be reported under Corporate and Consolidations. The 2013, 2012 and 2011 segment information below has been amended for this change in segment reporting. We evaluate segment performance based on segment net income (loss). We account for inter-segment sales and transfers at current market prices. We did not have any individually material inter-segment transactions during 2013, 2012, or 2011.

	Metal Bearing Components Segment		Precision Metal Components Segment			Plastic and Rubber Components Segment			Corporate and Consolidations			Total
December 31, 2013
Net sales	$	259,459	$	78,756		$	34,991		$	—		$	373,206
Interest expense		349		—			—			2,025			2,374
Depreciation and amortization		11,334		4,313			1,347			(37	)		16,957
Income tax (benefit) expense		8,345		3,261			216			(3,822	)		8,000
Net income (loss)		18,519		5,799			383			(7,523	)		17,178
Assets		197,980		39,432			16,638			8,352			262,402
Expenditures for long-lived assets		9,250		4,640			1,015			345			15,250
December 31, 2012
Net sales	$	252,241	$	76,746		$	41,097		$	—		$	370,084
Interest expense		387		—			—			3,491			3,878
Depreciation and amortization		12,060		4,243			1,366			(26	)		17,643
Income tax (benefit) expense		2,819		(1,811	)		(2,244	)		(2,691	)		(3,927	)
Net income (loss)		20,980		9,110			3,921			(9,743	)		24,268
Assets		198,770		40,727			19,232			6,614			265,343
Expenditures for long-lived assets		14,875		1,511			703			—			17,089
December 31, 2011
Net sales	$	308,883	$	72,272		$	43,536		$	—		$	424,691
Interest expense		214		—			—			4,501			4,715
Depreciation and amortization		12,295		3,346			1,371			4			17,016
Income tax (benefit) expense		4,785		—			—			383			5,168
Net income (loss)		30,360		(1,864	)		2,879			(10,438	)		20,937
Assets		188,872		47,027			19,740			3,822			259,461
Expenditures for long-lived assets		11,791		7,194			1,344			—			20,329

Due to the large number of countries in which we sell our products, sales to external customers and long-lived assets utilized by us are reported in the following geographical regions:

	December 31, 2013				December 31, 2012				December 31, 2011
	Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net
United States	$	140,875	$	42,573	$	144,375	$	42,884	$	140,492	$	46,959
Europe		149,649		57,505		140,208		54,768		193,948		56,442
Asia		38,233		21,011		39,576		22,035		42,591		17,127
Canada		9,415		—		7,464		—		6,172		—
Mexico		21,963		—		24,030		—		23,024		—
S. America		13,071		—		14,431		—		18,464		—
All foreign countries		232,331		78,516		225,709		76,803		284,199		73,569
Total	$	373,206	$	121,089	$	370,084	$	119,687	$	424,691	$	120,528