Segment Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Information

Note 5. Segment Information

The segment information and the accounting policies of each segment are the same as those described in the notes to the consolidated financial statements entitled “Segment Information” and “Summary of Significant Accounting Policies and Practices,” respectively, included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013. During the third quarter of 2014, we amended the metric we use to evaluate segment performance from net income (loss) to income from operations. The 2013 segment information has been changed to conform to this new presentation. Additionally, Autocam was added to the Precision Metal Components segment during the third quarter of 2014. We account for inter-segment sales and transfers at current market prices. We did not have any significant inter-segment transactions during the three and nine month periods ended September 30, 2014 and 2013.

(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended September 30, 2014
Revenues from external customers	$	69,575	$	46,637	$	9,420	$	—		$	125,632
Income from operations	$	7,644	$	5,515	$	178	$	(10,785	)	$	2,552
Interest expense											5,622
Other expense (income), net											1,557
Provision (benefit) for income taxes											(562	)
Share of net income from joint venture											225
Net Loss										$	(3,840	)
Nine Months ended September 30, 2014
Revenues from external customers	$	213,513	$	95,642	$	25,685	$	—		$	334,840
Income from operations	$	25,164	$	10,724	$	827	$	(17,588	)	$	19,127
Interest expense											6,737
Other expense (income) net											1,769
Provision for income taxes											4,247
Share of net income from joint venture											225
Net Income										$	6,599
Total assets	$	216,527	$	447,946	$	18,157	$	30,509		$	713,139

(In Thousands of Dollars)	Metal Bearing Components Segment		Precision Metal Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
Three Months ended September 30, 2013
Revenues from external customers	$	64,817	$	18,790	$	9,416	$	—		$	93,023
Income from operations	$	7,787	$	2,135	$	2	$	(2,130	)	$	7,794
Interest expense											655
Other expense (income) net											(281	)
Provision for income taxes											2,368
Net income										$	5,052
Nine Months ended September 30, 2013
Revenues from external customers	$	194,374	$	61,076	$	27,675	$	—		$	283,125
Income from operations	$	20,952	$	6,616	$	717	$	(6,932	)	$	21,353
Interest Expense											2,149
Other expense (income) net											84
Provision for income taxes											6,427
Net income										$	12,693
Total assets	$	193,270	$	39,440	$	17,734	$	10,986		$	261,430

The vast majority of the non-recurring costs related to the merger with Autocam and the other three acquisitions discussed under Note 2 are reported under Corporate and Consolidations. These costs totaled $11,381 and $13,132, respectively, with $8,088 and $9,858, respectively, included in income from operations in the three and nine months ended September 30, 2014