Business Segments

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Business Segments

NOTE 6 - BUSINESS SEGMENTS

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
	2019		2018		2017		2019			2018		2017
North America	$	704,320	$	800,383	$	732,418	$	16,713		$	29,702	$	9,808
Europe		668,167		701,444		375,637		(66,772	)		56,103		11,710
	$	1,372,487	$	1,501,827	$	1,108,055	$	(50,059	)	$	85,805	$	21,518

(Dollars in thousands)	Depreciation and Amortization						Capital Expenditures
	2019		2018		2017		2019		2018		2017
North America	$	38,845	$	33,588	$	35,931	$	22,464	$	37,476	$	47,493
Europe		61,877		61,468		33,404		41,830		40,221		23,444
	$	100,722	$	95,056	$	69,335	$	64,294	$	77,697	$	70,937

(Dollars in thousands)
	Property, Plant, and Equipment, net				Goodwill and Intangible Assets
	2019		2018		2019		2018
North America	$	237,372	$	249,791	$	—	$	—
Europe		291,910		282,976		321,910		459,803
	$	529,282	$	532,767	$	321,910	$	459,803

(Dollars in thousands)	Total Assets
	2019		2018
North America	$	484,689	$	484,682
Europe		827,178		966,934
	$	1,311,867	$	1,451,616

Geographic information

Net sales by geographic location:

Year Ended December 31,	2019		2018		2017
(Dollars in thousands)
Net sales:
U.S.	$	104,476	$	127,178	$	124,711
Mexico		599,844		673,205		607,707
Germany		245,805		279,631		155,227
Poland		422,362		421,813		220,410
Consolidated net sales	$	1,372,487	$	1,501,827	$	1,108,055