Business Segment Information

3 Months Ended

Mar. 31, 2015

Business Segment Information

Business Segment Information

Note 11.  Business Segment Information

The Company reports its operations in two primary segments: Technical Products and Fine Paper and Packaging (formerly known as Fine Paper). On January 1, 2015, we changed the name of our Fine Paper segment to Fine Paper and Packaging. The name change better reflects the increasing importance, and plans for continued growth, of our premium packaging products.

The technical products business is an international producer of transportation, water and other filter media and durable, saturated and coated substrates for industrial products, backings and a variety of other end markets. The fine paper and packaging business is a supplier of premium printing, packaging and other high end specialty papers in North America. Each segment employs different technologies and marketing strategies. In addition, the Company reports in the Other segment results for the non-premium Index, Tag and Vellum Bristol product lines acquired as part of the purchase of the Wausau brands. 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 March 31,
	2015		2014
Net sales
Technical Products	$	119.9	$	117.5
Fine Paper and Packaging	101.4		101.5
Other	6.9		6.1
Consolidated	$	228.2	$	225.1

	Three Months Ended March 31,
	2015			2014
Operating income (loss)
Technical Products	$	16.0		$	13.7
Fine Paper and Packaging	17.4			13.3
Other	0.2			(0.2		)
Unallocated corporate costs	(4.8		)	(3.8		)
Consolidated	$	28.8		$	23.0

	March 31, 2015		December 31, 2014
Total Assets
Technical Products	$	391.9	$	419.1
Fine Paper and Packaging	212.8		223.6
Corporate and Other	98.3		87.9
Total	$	703.0	$	730.6