Note 7 – Business Segments

As a result of the Acquisition, the company expanded into the European market and extended its customer base to include the principal European OEMs. As a consequence, we have realigned our executive management structure, organization and operations to focus on our performance in our North American and European regions. In accordance with the requirements of ASC Topic 280, “Segment Reporting,” we have concluded that our North American and European businesses represent separate operating segments in view of significantly different markets, customers and products within each of these regions. Each operating segment has discrete financial information which is evaluated regularly by the company’s CEO in determining resource allocation and assessing performance. Within each of these regions, markets, customers, products and production processes are similar and production can be readily transferred between production facilities. Moreover, our business within each region leverages common systems, processes and infrastructure. Accordingly, North America and Europe comprise the company’s reportable segments for purposes of segment reporting.


(Dollars in thousands)
	Net Sales				Income from Operations
Three months ended	March 31, 2018		March 26, 2017		March 31, 2018		March 26, 2017
North America	$	204,150	$	174,220	$	13,785	$	3,944
Europe		182,298		—		13,849		—

	$	386,448	$	174,220	$	27,634	$	3,944


(Dollars in thousands)
	Depreciation and Amortization				Capital Expenditures
Three months ended	March 31, 2018		March 26, 2017		March 31, 2018		March 26, 2017
North America	$	8,797	$	8,370	$	10,028	$	16,823
Europe		15,556		—		12,646		—

	$	24,353	$	8,370	$	22,674	$	16,823


(Dollars in thousands)
	Property, Plant and Equipment, net				Long-lived Intangible Assets
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
North America	$	251,874	$	245,178	$	—	$	—
Europe		300,278		291,508		201,559		203,473

	$	552,152	$	536,686	$	201,559	$	203,473


(Dollars in thousands)
	Total Assets
	March 31, 2018		December 31, 2017
North America	$	569,798	$	519,192
Europe		1,048,003		1,032,060

	$	1,617,801	$	1,551,252

Geographic information

Net sales by geographic location is the following:


Three months ended	March 31, 2018		March 26, 2017
(Dollars in thousands)
Net sales:
U.S.	$	30,484	$	33,731
Mexico		173,666		140,489
Germany		71,225		—
Poland		111,073		—

Consolidated net sales	$	386,448	$	174,220