Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

12) 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.

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 Autocam Precision Components Segment is engaged in the design and manufacture of close-tolerance, specialty metal alloy components for mechanical and electromechanical systems using turning, grinding and milling processes. Currently, we manufacture components for use on fuel delivery, electromechanical motor, steering and braking systems for the transportation industry and highly engineered shafts, mechanical components, complex precision assembled and tested parts and fluid system components for the HVAC and fluid power industries. This segment was renamed with the acquisition of Autocam.

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, during the third quarter of 2014, we amended the metric we use to evaluate segment performance from net income (loss) to income from operations. Additionally, Autocam was added to the Precision Metal Components segment during the third quarter of 2014. The 2014, 2013 and 2012 segment information below has been amended for this change in segment reporting. We account for inter-segment sales and transfers at current market prices. We did not have any individually material inter-segment transactions during 2014, 2013, or 2012.

	Metal Bearing Components Segment		Autocam Precision Components Segment		Plastic and Rubber Components Segment		Corporate and Consolidations			Total
December 31, 2014
Net sales	$	278,026	$	177,224	$	33,351	$	—		$	488,601
Depreciation and amortization		12,000		9,070		1,160		(84	)		22,146
Income from operations		31,872		15,732		1,231		(21,148	)		27,687
Interest expense								12,293			12,293
Income tax (benefit) expense								5,786			5,786
Net income (loss)								8,217			8,217
Assets		214,291		444,548		17,196		36,678			712,713
Expenditures for long-lived assets		10,941		10,947		673		5,041			27,602
December 31, 2013
Net sales	$	259,459	$	78,756	$	34,991	$	—		$	373,206
Depreciation and amortization		11,334		4,313		1,347		(37	)		16,957
Income from operations		27,380		9,112		592		(9,257	)		27,827
Interest Expense								2,374			2,374
Income tax (benefit) expense								8,000			8,000
Net income (loss)								17,178			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
Depreciation and amortization		12,060		4,243		1,366		(26	)		17,643
Income from operations		24,900		6,955		1,807		(8,591	)		25,071
Interest Expense								3,878			3,878
Income tax (benefit) expense								(3,927	)		(3,927	)
Net income (loss)								24,268			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

The vast majority of the costs related to the merger with Autocam and the other three acquisitions discussed under Note 2 are reported under Corporate and Consolidations. These costs impacted income from operations at Corporate by $9,837. Beginning September 1, 2014, the Autocam Precision Components Segment include the results of the acquired Autocam businesses. Since the date of the acquisition, sales revenue of $80,821 and net income of $3,686 (including the $1,158 for the one-time increase in cost of goods sold) has been included in this segment.

	December 31, 2014				December 31, 2013				December 31, 2012
	Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net
United States	$	204,360	$	129,232	$	140,875	$	42,573	$	144,375	$	42,884
Europe		167,665		82,783		149,649		57,505		140,208		54,768
Asia		58,470		32,848		38,233		21,011		39,576		22,035
Canada		8,657		—		9,415		—		7,464		—
Mexico		25,900		2,637		21,963		—		24,030		—
S. America		23,549		30,942		13,071		—		14,431		—
All foreign countries		284,241		149,210		232,331		78,516		225,709		76,803
Total	$	488,601	$	278,442	$	373,206	$	121,089	$	370,084	$	119,687

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 above geographical regions.