Business Segments

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Business Segments

NOTE 5 - BUSINESS SEGMENTS

The North American and European businesses represent separate operating segments in view of significantly different markets, customers and products in each of these regions. Within each of these regions, markets, customers, products, and production processes are similar. Moreover, our business within each region generally leverages common systems, processes and infrastructure. Accordingly, North America and Europe comprise the Company’s reportable segments.

	Net Sales				Income from Operations
Three Months Ended	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
(Dollars in thousands)
North America	$	240,340	$	180,496	$	10,526	$	12,581
Europe		165,385		130,284		1,734		(5,207	)
	$	405,725	$	310,780	$	12,260	$	7,374
	Depreciation and Amortization				Capital Expenditures
Three Months Ended	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
(Dollars in thousands)
North America	$	9,255	$	8,732	$	6,762	$	10,223
Europe		12,605		15,744		4,660		16,797
	$	21,860	$	24,476	$	11,422	$	27,020

	Net Sales				Income from Operations
Nine Months Ended	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
(Dollars in thousands)
North America	$	727,215	$	549,457	$	54,772	$	37,964
Europe		510,568		466,983		7,031		10,649
	$	1,237,783	$	1,016,440	$	61,803	$	48,613
	Depreciation and Amortization				Capital Expenditures
Nine Months Ended	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
(Dollars in thousands)
North America	$	27,269	$	27,453	$	30,904	$	18,330
Europe		41,799		47,993		14,806		29,241
	$	69,068	$	75,446	$	45,710	$	47,571

	Property, Plant and Equipment, net				Intangible Assets
	September 30, 2022		December 31, 2021		September 30, 2022		December 31, 2021
(Dollars in thousands)
North America	$	215,424	$	214,331	$	—	$	—
Europe		235,445		280,070		51,630		76,870
	$	450,869	$	494,401	$	51,630	$	76,870

	Total Assets
	September 30, 2022		December 31, 2021
(Dollars in thousands)
North America	$	564,659	$	499,988
Europe		508,179		554,159
	$	1,072,838	$	1,054,147

Geographic information

Net sales and long-lived assets by location are as follows:

	Three Months Ended				Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
(Dollars in thousands)
Net sales:
U.S.	$	1,327	$	2,832	$	4,277	$	5,651
Mexico		239,013		177,664		722,938		543,806
Germany		46,885		43,084		149,008		166,483
Poland		118,500		87,200		361,560		300,500
Consolidated net sales	$	405,725	$	310,780	$	1,237,783	$	1,016,440
					September 30, 2022		December 31, 2021
(Dollars in thousands)
Property, plant and equipment, net
U.S.					$	1,457	$	2,152
Mexico						213,967		212,179
Germany						70,252		76,849
Poland						165,193		203,221
Property, plant and equipment, net					$	450,869	$	494,401