Segment Reporting

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

(12)  Segment Reporting

Operating segments are defined as components of an enterprise that are evaluated regularly by the Company's chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company's chief operating decision maker is the chief executive officer.

During the fourth quarter of 2012, the Company changed its reportable segments in accordance with changes in financial information received and reviewed by the Company's chief operating decision maker. As a result, the Company's Wiring business unit is an operating segment for financial reporting purposes. Historically, the Wiring business unit was included in the Electronics operating segment. The Company has revised the consolidated segment information for 2012 to reflect this presentation.

The Company has four reportable segments: Electronics, Wiring, Control Devices and PST which also represents its operating segments. The Electronics reportable segment produces electronic instrument clusters, electronic control units and driver information systems. The Wiring reportable segment produces electrical power and signal distribution systems, primarily wiring harnesses and connectors and assembles instrument panels. The Control Devices reportable segment produces sensors, switches, valves and actuators. The PST reportable segment design s and manufactures electronic vehicle security alarms, convenience accessories, vehicle tracking devices and monitoring services and in-vehicle audio and video devices.

The accounting policies of the Company's reportable segments are the same as those described in Note 2, "Summary of Significant Accounting Policies" of the Company's December 31, 2012 Form 10-K.  The Company's management evaluates the performance of its reportable segments based primarily on revenues from external customers, capital expenditures and income before income taxes.  Inter-segment sales are accounted for on terms similar to those to third parties and are eliminated upon consolidation.

A summary of financial information by reportable segment is as follows:

	Three months ended				Six months ended
	June 30,				June 30,
	2013		2012		2013		2012
Net Sales:
Electronics	$	48,684	$	41,504	$	93,204	$	84,932
Inter-segment sales		10,849		13,905		21,715		29,228
Electronics net sales		59,533		55,409		114,919		114,160
Wiring		72,952		85,723		149,800		180,475
Inter-segment sales		2,198		1,763		3,801		2,106
Wiring net sales		75,150		87,486		153,601		182,581
Control Devices		74,434		68,564		146,347		138,960
Inter-segment sales		774		853		1,570		1,978
Control Devices net sales		75,208		69,417		147,917		140,938
PST		46,715		38,474		89,144		92,165
Inter-segment sales		-		-		-		-
PST net sales		46,715		38,474		89,144		92,164
Eliminations		(13,821)		(16,521)		(27,086)		(33,312)
Total net sales	$	242,785	$	234,265	$	478,495	$	496,532
Income (Loss) Before Income Taxes:
Electronics	$	3,913	$	1,825	$	7,695	$	5,871
Wiring		(1,543)		529		(1,970)		3,173
Control Devices		7,613		3,829		13,880		7,901
PST		2,539		(8,124)		3,022		(8,456)
Other corporate activities		(1,002)		(259)		(1,866)		239
Corporate interest expense		(4,004)		(3,982)		(7,943)		(7,946)
Total income (loss) before income taxes	$	7,516	$	(6,182)	$	12,818	$	782
Depreciation and Amortization:
Electronics	$	1,242	$	1,087	$	2,521	$	2,155
Wiring		1,196		1,262		2,407		2,532
Control Devices		2,470		2,317		5,005		4,748
PST		3,654		4,124		7,486		8,077
Corporate		46		47		94		95
Total depreciation and amortization (A)	$	8,608	$	8,837	$	17,513	$	17,607
Interest Expense, net:
Electronics	$	186	$	393	$	373	$	786
Wiring		71		44		195		73
Control Devices		32		57		79		114
PST (A)		282		686		559		1,598
Corporate		4,004		3,982		7,943		7,946
Total interest expense, net	$	4,575	$	5,162	$	9,149	$	10,517
Capital Expenditures:
Electronics	$	519	$	712	$	988	$	1,466
Wiring		988		691		1,504		1,486
Control Devices		1,657		1,962		4,897		4,032
PST		1,626		2,985		3,092		5,406
Corporate		93		1,172		220		1,980
Total capital expenditures	$	4,883	$	7,522	$	10,701	$	14,370

	June 30,		December 31,
	2013		2012
Total Assets:
Electronics	$	93,321	$	84,772
Wiring		107,286		99,755
Control Devices		112,924		100,351
PST		251,937		267,687
Corporate (B)		298,825		308,969
Eliminations		(269,887)		(268,843)
Total assets	$	594,406	$	592,691

(A)	These amounts represent depreciation and amortization on property, plant and equipment and certain intangible assets.
(B)	Assets located at Corporate consist primarily of cash, intercompany loan receivables and equity investments.

The following table presents net sales and long -term assets for each of the geographic areas in which the Company operates:

	Three months ended				Six months ended
	June 30,				June 30,
	2013		2012		2013		2012
Net Sales:
North America	$	151,366	$	159,216	$	304,465	$	329,339
South America		46,715		38,474		89,144		92,165
Europe and Other		44,704		36,575		84,886		75,028
Total net sales	$	242,785	$	234,265	$	478,495	$	496,532

	June 30,		December 31,
	2013		2012
Long-term Assets:
North America	$	78,732	$	82,777
South America		166,681		185,109
Europe and Other		13,494		13,751
Total long-term assets	$	258,907	$	281,637