Business Segments

6 Months Ended

Jun. 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	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
(Dollars in thousands)
North America	$	259,677	$	176,990	$	24,679	$	7,542
Europe		171,855		170,474		1,227		7,978
	$	431,532	$	347,464	$	25,906	$	15,520
	Depreciation and Amortization				Capital Expenditures
Three Months Ended	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
(Dollars in thousands)
North America	$	9,055	$	9,499	$	11,630	$	3,447
Europe		14,071		16,110		4,704		6,625
	$	23,126	$	25,609	$	16,334	$	10,072

	Net Sales				Income from Operations
Six Months Ended	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
(Dollars in thousands)
North America	$	486,875	$	368,961	$	44,246	$	25,383
Europe		345,183		336,699		5,297		15,856
	$	832,058	$	705,660	$	49,543	$	41,239
	Depreciation and Amortization				Capital Expenditures
Six Months Ended	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
(Dollars in thousands)
North America	$	18,014	$	18,720	$	24,142	$	8,107
Europe		29,194		32,250		10,146		12,444
	$	47,208	$	50,970	$	34,288	$	20,551

	Property, Plant and Equipment, net				Intangible Assets
	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
(Dollars in thousands)
North America	$	217,686	$	214,331	$	—	$	—
Europe		254,140		280,070		59,625		76,870
	$	471,826	$	494,401	$	59,625	$	76,870

	Total Assets
	June 30, 2022		December 31, 2021
(Dollars in thousands)
North America	$	547,148	$	499,988
Europe		535,923		554,159
	$	1,083,071	$	1,054,147

Geographic information

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

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
(Dollars in thousands)
Net sales:
U.S.	$	1,292	$	1,549	$	2,950	$	2,819
Mexico		258,385		175,441		483,925		366,142
Germany		48,035		62,511		102,123		123,398
Poland		123,820		107,963		243,060		213,301
Consolidated net sales	$	431,532	$	347,464	$	832,058	$	705,660
					June 30, 2022		December 31, 2021
(Dollars in thousands)
Property, plant and equipment, net
U.S.					$	1,701	$	2,152
Mexico						215,985		212,179
Germany						75,173		76,849
Poland						178,967		203,221
Property, plant and equipment, net					$	471,826	$	494,401