Business Segments

9 Months Ended

Sep. 30, 2020

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 and production can be 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.

(Dollars in thousands)	Net Sales				Income from Operations
Three Months Ended	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
North America	$	166,662	$	188,089	$	16,113	$	(4,440	)
Europe		150,441		163,925		3,125		4,197
	$	317,103	$	352,014	$	19,238	$	(243	)
(Dollars in thousands)	Depreciation and Amortization				Capital Expenditures
Three Months Ended	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
North America	$	8,742	$	15,432	$	6,673	$	5,425
Europe		16,076		15,396		4,158		13,494
	$	24,818	$	30,828	$	10,831	$	18,919

(Dollars in thousands)	Net Sales				Income from Operations
Nine Months Ended	September 30, 2020		September 30, 2019		September 30, 2020			September 30, 2019
North America	$	381,129	$	553,607	$	2,430		$	13,586
Europe		381,921		508,599		(200,324	)		28,841
	$	763,050	$	1,062,206	$	(197,894	)	$	42,427
(Dollars in thousands)	Depreciation and Amortization				Capital Expenditures
Nine Months Ended	September 30, 2020		September 30, 2019		September 30, 2020			September 30, 2019
North America	$	25,967	$	31,248	$	19,109		$	15,988
Europe		47,167		46,252		14,483			31,596
	$	73,134	$	77,500	$	33,592		$	47,584

(Dollars in thousands)	Property, Plant and Equipment, net				Goodwill and Intangible Assets
	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
North America	$	214,656	$	237,372	$	—	$	—
Europe		292,381		291,910		112,341		321,910
	$	507,037	$	529,282	$	112,341	$	321,910

(Dollars in thousands)	Total Assets
	September 30, 2020		December 31, 2019
North America	$	433,645	$	484,689
Europe		645,366		827,178
	$	1,079,011	$	1,311,867

Geographic information

Net sales by manufacturing geographic location are as follows:

	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
(Dollars in thousands)
Net sales:
U.S.	$	5,094	$	26,916	$	24,890	$	81,638
Mexico		161,568		161,173		356,239		471,969
Germany		58,413		59,548		142,177		180,785
Poland		92,028		104,377		239,744		327,814
Consolidated net sales	$	317,103	$	352,014	$	763,050	$	1,062,206