Business Segment Information

9 Months Ended

Sep. 30, 2012

Business Segment Information

Business Segment Information

Note 11.  Business Segment Information

The Company reports its operations in three segments: Technical Products, Fine Paper and Other. The technical products business is an international producer of filtration media; durable, saturated and coated substrates for a variety of end uses. The fine paper business is a producer of premium writing, text, cover and specialty papers, including luxury packaging and labels.  The other segment includes the Index, Tag and Vellum Bristol brands. Each segment employs different technologies and marketing strategies.  Disclosure of segment information is on the same basis that management uses internally for evaluating segment performance and allocating resources.  Transactions between segments are eliminated in consolidation. The costs of shared services, and other administrative functions managed on a common basis, are allocated to the segments based on usage, where possible, or other factors based on the nature of the activity.  General corporate expenses that do not directly support the operations of the business segments are shown as Unallocated corporate costs.

The following table summarizes the net sales, operating income and total assets for each of the Company’s business segments.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Net sales
Technical Products	$	98.7	$	107.1	$	311.6	$	326.9
Fine Paper	99.1		67.8		281.8		203.6
Other	8.5		—		22.8		—
Consolidated	$	206.3	$	174.9	$	616.2	$	530.5

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Operating income
Technical Products	$	6.4		$	5.6		$	31.2		$	25.9
Fine Paper	12.8			9.5			36.9			30.0
Other	0.5			—			1.8			—
Unallocated corporate costs	(3.4		)	(2.6		)	(15.4		)	(12.9		)
Consolidated	$	16.3		$	12.5		$	54.5		$	43.0

	September 30, 2012		December 31, 2011
Total Assets
Technical Products	$	344.3	$	336.3
Fine Paper	214.8		162.2
Corporate and other	48.3		66.6
Total	$	607.4	$	565.1