Segments, Concentrations and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Reconciliation of Revenue from Segments to Consolidated

Segment financial information and a reconciliation of segment results to consolidated results follows:

	Quarters Ended September 30,						Year to Date Period Ended September 30,
	2017			2016			2017			2016
Net Sales:
Couplings, Clutches & Brakes	$	110,109		$	77,446		$	327,310		$	231,225
Electromagnetic Clutches & Brakes		58,304			50,680			187,463			165,083
Gearing		48,368			47,023			144,545			145,038
Inter-segment eliminations		(2,158	)		(2,017	)		(5,903	)		(5,087	)
Net sales	$	214,623		$	173,132		$	653,415		$	536,259
Income from operations:
Segment earnings:
Couplings, Clutches & Brakes	$	12,679		$	6,596		$	33,031		$	20,441
Electromagnetic Clutches & Brakes		6,138			6,589			21,894			20,120
Gearing		5,689			5,650			17,804			17,280
Restructuring		(680	)		(3,397	)		(3,776	)		(6,591	)
Corporate expenses (1)		(2,553	)		(5,069	)		(6,869	)		(9,729	)
Income from operations	$	21,273		$	10,369		$	62,084		$	41,521
Other non-operating (income) expense:
Net interest expense	$	1,811		$	2,815		$	5,547		$	8,615
Other non-operating  expense (income), net		696			45			30			(438	)
Loss on extinguishment of convertible debt		—			—			1,797			—
		2,507			2,860			7,374			8,177
Income before income taxes		18,766			7,509			54,710			33,344
Provision for income taxes		5,489			2,196			15,723			9,872
Net income	$	13,277		$	5,313		$	38,987		$	23,472

(1) Certain expenses are maintained at the corporate level and not allocated to the segments. These include various administrative expenses related to corporate headquarters, depreciation on capitalized software costs, non-capitalizable software implementation costs and acquisition related expenses and non-cash partial pension settlements.

Reconciliation of Assets from Segment to Consolidated

Selected information by segment (continued)

	Quarter Ended				Year to Date Period Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Depreciation and amortization:
Couplings, Clutches & Brakes	$	5,387	$	4,028	$	15,658	$	11,485
Electromagnetic Clutches & Brakes		1,274		1,176		3,690		3,501
Gearing		1,776		1,862		5,077		5,261
Corporate		851		791		2,478		2,372
Total depreciation and amortization	$	9,288	$	7,857	$	26,903	$	22,619
	September 30, 2017		December 31, 2016
Total assets:
Couplings, Clutches & Brakes	$	570,266	$	511,934
Electromagnetic Clutches & Brakes		181,766		169,507
Gearing		139,039		147,829
Corporate (2)		34,960		40,554
Total assets	$	926,031	$	869,824

(1) Corporate assets are primarily cash and cash equivalents, tax related asset accounts, certain capitalized software costs, property, plant and equipment and deferred financing costs.

Revenue from External Customers by Geographic Areas

Net sales to third parties by geographic region are as follows:

	Net Sales
	Quarter Ended				Year to Date Period Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
North America (primarily U.S.)	$	101,569	$	99,995	$	331,945	$	316,957
Europe		87,866		54,344		256,142		165,694
Asia and other		25,188		18,793		65,328		53,608
Total	$	214,623	$	173,132	$	653,415	$	536,259