Segments, Concentrations and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment Financial Information and Reconciliation of Segments Revenue to Consolidated Revenue

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

	Quarters Ended						Year to Date Ended
	September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Net Sales:
Couplings, Clutches & Brakes	$	118,662		$	110,109		$	361,569		$	327,310
Electromagnetic Clutches & Brakes		57,915			58,304			192,158			187,463
Gearing		54,198			48,368			159,650			144,545
Inter-segment eliminations		(2,292	)		(2,158	)		(7,186	)		(5,903	)
Net sales	$	228,483		$	214,623		$	706,191		$	653,415
Income from operations:
Segment earnings:
Couplings, Clutches & Brakes	$	15,639		$	12,679		$	47,799		$	33,031
Electromagnetic Clutches & Brakes		6,490			6,138			23,234			21,894
Gearing		5,881			5,689			18,396			17,804
Corporate expenses (1)		(6,663	)		(680	)		(18,844	)		(3,776	)
Restructuring & consolidation costs		(610	)		(2,553	)		(2,119	)		(6,869	)
Income from operations	$	20,737		$	21,273		$	68,466		$	62,084
Other non-operating (income) expense:
Loss on settlement of pension plan	$	—		$	—		$	5,086		$	—
Net interest expense		1,958			1,811			5,857			5,547
Other non-operating (income), net		644			696			216			30
Loss on extinguishment of convertible debt		—			—			—			1,797
	$	2,602		$	2,507		$	11,159		$	7,374
Income before income taxes		18,135			18,766			57,307			54,710
Provision for income taxes		5,822			5,489			16,986			15,723
Net income	$	12,313		$	13,277		$	40,321		$	38,987

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

Reconciliation of Segment Assets to Consolidated Assets

Selected information by segment (continued)

	Quarter Ended				Year to Date Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Depreciation and amortization:
Couplings, Clutches & Brakes	$	5,492	$	5,387	$	16,722	$	15,658
Electromagnetic Clutches & Brakes		1,024		1,274		2,960		3,690
Gearing		1,995		1,776		5,771		5,077
Corporate		841		851		2,578		2,478
Total depreciation and amortization	$	9,352	$	9,288	$	28,031	$	26,903
					September 30, 2018		September 30, 2017
Total assets:
Couplings, Clutches & Brakes					$	565,736	$	570,266
Electromagnetic Clutches & Brakes						156,802		181,766
Gearing						160,363		139,039
Corporate (2)						29,668		34,960
Total assets					$	912,569	$	926,031

(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.

Net Sales to Third Parties by Geographic Region

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

	Net Sales
	Quarter Ended				Year to Date Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
North America (primarily U.S.)	$	115,133	$	101,569	$	359,849	$	331,945
Europe		90,015		87,866		274,805		256,142
Asia and other		23,335		25,188		71,537		65,328
Total	$	228,483	$	214,623	$	706,191	$	653,415