Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

12) Segment Information

We determined our reportable segments under the provisions of 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 Precision Bearing Components Group 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 Precision Engineered Products Group includes the Plastic and Rubber Components Group as presented in previous filings. The name of this segment was changed during 2015 after the PEP Acquisition and disposal of Delta Rubber. With the completion of the PEP Acquisition, we added a global manufacturer of highly engineered precision customized solutions serving the medical, electrical, automotive, aerospace and defense end markets. The Autocam Precision Components Group is engaged in the design and manufacture of close-tolerance, precision-machined metal components. Currently, we manufacture components for use in fuel delivery, electromechanical motor, steering and braking systems for the automotive 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.

	Precision Bearing Components Group		Precision Engineered Products Group			Autocam Precision Components Group		Corporate and Consolidations			Total
December 31, 2016
Net sales	$	248,534	$	258,816		$	326,138	$	—		$	833,488
Depreciation and amortization		11,676		28,020			22,189		603			62,488
Income from operations		22,985		34,744			29,516		(27,845	)		59,400
Interest expense									63,154			63,154
Income tax (benefit) expense									(9,313	)		(9,313	)
Net income (loss)									7,942			7,942
Assets	$	220,152	$	715,575		$	416,490	$	8,169		$	1,360,386
Expenditures for long-lived assets	$	11,926	$	5,352		$	23,077	$	3,465		$	43,820
December 31, 2015
Net sales	$	261,837	$	77,183		$	328,260	$	—		$	667,280
Depreciation and amortization		11,496		11,295			21,472		219			44,482
Income from operations		26,310		(3,718	)		31,700		(27,495	)		26,797
Interest expense									29,899			29,899
Income tax (benefit) expense									(10,518	)		(10,518	)
Net income (loss)									(7,431	)		(7,431	)
Assets	$	215,163	$	743,191		$	417,853	$	17,319		$	1,393,526
Expenditures for long-lived assets	$	15,111	$	728		$	21,341	$	1,373		$	38,553
December 31, 2014
Net sales	$	278,026	$	33,351		$	177,224	$	—		$	488,601
Depreciation and amortization		12,000		1,160			9,070		(84	)		22,146
Income from operations		31,872		1,231			15,732		(21,148	)		27,687
Interest Expense									10,895			10,895
Income tax (benefit) expense									5,786			5,786
Net income (loss)									8,217			8,217
Assets	$	214,291	$	17,196		$	444,548	$	36,678		$	712,713
Expenditures for long- lived assets	$	10,941	$	673		$	10,947	$	5,041		$	27,602

The vast majority of the acquisition related costs for the PEP Acquisition and Caprock acquisition in 2015, and the Autocam acquisition and the other three acquisitions in 2014 are reported under Corporate and Consolidations. These costs impacted income from operations at Corporate by $10.9 million and $9.8 million for the years ended December 31, 2015 and 2014, respectively. Beginning October 20, 2015 and September 1, 2014, the Precision Engineered Products Group and Autocam Precision Components Group, respectively, include the results of the acquired PEP and Autocam businesses. Since the date of the PEP Acquisition, 2015 sales revenue of $40.7 million and net loss of $(2.6) million (including the $4.3 million for the one-time increase in cost of goods sold for inventory step-up, and $5.2 for the amortization of backlog intangible) has been included in this segment. During 2014 and since the date of the Autocam acquisition, sales revenue of $80.8 million and net income of $3.7 million (including the $1.2 million for the one-time increase in cost of goods sold for inventory step-up) has been included in this segment.

	December 31, 2016				December 31, 2015				December 31, 2014
	Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net		Net Sales		Property, Plant and Equipment, Net
United States	$	456,102	$	176,632	$	326,747	$	183,226	$	204,360	$	129,232
Europe		172,895		78,664		170,921		77,147		167,665		82,783
Asia		102,853		33,867		86,564		35,345		58,470		32,848
Canada		10,980		—		9,759		—		8,657		—
Mexico		54,390		6,308		39,118		2,971		25,900		2,637
S. America		36,268		27,482		34,171		20,279		23,549		30,942
All foreign countries		377,386		146,321		340,533		135,742		284,241		149,210
Total	$	833,488	$	322,953	$	667,280	$	318,968	$	488,601	$	278,442

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.