Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

Our business has historically been aggregated into the following three reportable segments:

•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, primarily in the orthopaedics and medical/surgical end markets and was sold on October 6, 2020.

These divisions have historically been considered our three 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 reviews discrete financial information for purposes of allocating resources and assessing performance. See Note 2 and Note 19 for information regarding the sale of the Life Sciences business on October 6, 2020. The results of the Life Sciences business are classified as discontinued operations for all periods in the condensed consolidated financial statements and accompanying notes unless otherwise stated. Accordingly, results of the Life Sciences business are not included in the tabular presentation below.

The following tables present results of continuing operations by reportable segment.

	Mobile Solutions		Power Solutions		Corporate and Consolidations			Total
Three Months Ended September 30, 2020
Net sales	$	70,371	$	43,415	$	(25)	(a)	$	113,761
Income (loss) from operations	4,953		1,143		(7,552)			$	(1,456)
Interest expense								(6,873)
Other								118
Loss from continuing operations before income taxes and share of net income from joint venture								$	(8,211)
Three Months Ended September 30, 2019
Net sales	$	73,071	$	47,430	$	(42)	(a)	$	120,459
Income (loss) from operations	3,423		3,351		(8,585)			$	(1,811)
Interest expense								(3,805)
Other								(633)
Loss from continuing operations before income taxes and share of net income from joint venture								$	(6,249)

	Mobile Solutions		Power Solutions		Corporate and Consolidations			Total
Nine Months Ended September 30, 2020
Net sales	$	181,292	$	127,307	$	(93)	(a)	$	308,506
Goodwill impairment	—		92,942		—			$	92,942
Income (loss) from operations	625		(87,737)		(29,371)			(116,483)
Interest expense								(17,036)
Other								(211)
Loss from continuing operations before income taxes and share of net income from joint venture								$	(133,730)
Nine Months Ended September 30, 2019
Net sales	$	230,590	$	148,480	$	(232)	(a)	$	378,838
Income (loss) from operations	10,118		12,857		(30,432)			$	(7,457)
Interest expense								(8,829)
Other								(1,171)
Loss from continuing operations before income taxes and share of net income from joint venture								$	(17,457)

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(a)Includes elimination of intersegment transactions occurring during the ordinary course of business.

The following table presents total assets by reportable segment as of September 30, 2020, and December 31, 2019.

	Total Assets
	September 30, 2020		December 31, 2019
Mobile Solutions	$	369,939	$	373,256
Power Solutions	199,906		310,545
Corporate and Consolidations	746,364		858,183
Total	$	1,316,209	$	1,541,984

As of September 30, 2020, and December 31, 2019, one customer represented 12% and 10%, respectively, of consolidated accounts receivable from continuing operations. Amounts due from this customer are primarily related to Mobile Solutions.