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Segment Information
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment Information
Segment Information
We determined our reportable segments under the provisions of U.S. GAAP related to disclosures about segments of an enterprise. Management has concluded that Mobile Solutions, which is focused on growth in the general industrial and automotive end markets; Power Solutions, which is focused on growth in the electrical and aerospace and defense end markets; and Life Sciences, which is focused on growth in the medical end market, constitute our operating segments. Mobile Solutions, Power Solutions, and Life Sciences are considered operating segments as each engages in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the Chief Operating Decision Maker (“CODM”) reviews discrete financial information for purposes of allocating resources and assessing performance.
Segment Results
The following table presents results of operations for each reportable segment.
 
 
Mobile
Solutions
 
Power
Solutions
 
Life
Sciences
 
Corporate
and
Consolidations
 
 
 
Total
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
79,444

 
$
51,393

 
$
91,332

 
$
(503
)
 
(a)
 
$
221,666

Income (loss) from operations
 
$
4,092

 
$
5,682

 
$
9,305

 
$
(10,981
)
 
 
 
$
8,098

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(13,958
)
Other
 
 
 
 
 
 
 
 
 
 
 
(57
)
Loss before provision for income taxes and share of net income from joint venture
 
 
 
 
 
 
 
 
 
 
 
$
(5,917
)
Three Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
88,079

 
$
49,820

 
$
59,153

 
$
(703
)
 
(a)
 
$
196,349

Income (loss) from operations
 
$
7,380

 
$
6,000

 
$
2,041

 
$
(15,713
)
 
 
 
$
(292
)
Interest expense
 
 
 
 
 
 
 
 
 
 
 
(15,988
)
Other
 
 
 
 
 
 
 
 
 
 
 
(14,825
)
Loss before benefit for income taxes and share of net income from joint venture
 
 
 
 
 
 
 
 
 
 
 
$
(31,105
)
 
 
Mobile
Solutions
 
Power
Solutions
 
Life
Sciences
 
Corporate
and
Consolidations
 
 
 
Total
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
157,519

 
$
101,050

 
$
177,340

 
$
(987
)
 
(a)
 
$
434,922

Income (loss) from operations
 
$
8,199

 
$
9,506

 
$
13,151

 
$
(22,157
)
 
 
 
$
8,699

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(27,759
)
Other
 
 
 
 
 
 
 
 
 
 
 
(3,485
)
Loss before benefit for income taxes and share of net income from joint venture
 
 
 
 
 
 
 
 
 
 
 
$
(22,545
)
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
177,873

 
$
98,502

 
$
90,353

 
$
(1,231
)
 
(a)
 
$
365,497

Income (loss) from operations
 
$
17,165

 
$
11,233

 
$
6,245

 
$
(31,242
)
 
 
 
$
3,401

Interest expense
 
 
 
 
 
 
 
 
 
 
 
(27,984
)
Other
 
 
 
 
 
 
 
 
 
 
 
(14,512
)
Loss before benefit for income taxes and share of net income from joint venture
 
 
 
 
 
 
 
 
 
 
 
$
(39,095
)
_______________________________

(a)
Includes elimination of intersegment transactions occurring during the ordinary course of business.
 
 
Total Assets as of
 
 
June 30, 2019
 
December 31, 2018
Mobile Solutions
 
$
396,398

 
$
356,387

Power Solutions
 
309,516

 
297,947

Life Sciences
 
815,626

 
802,770

Corporate and Consolidations
 
50,745

 
44,466

Total
 
$
1,572,285

 
$
1,501,570