Segment Reporting

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We operate in, and report financial information for, the following two reportable segments, Performance Sensing and Sensing Solutions, each of which is also an operating segment. Our operating segments are businesses that we manage as components of an enterprise, for which separate financial information is evaluated regularly by our chief operating decision maker in deciding how to allocate resources and assess performance.

An operating segment’s performance is primarily evaluated based on segment operating income, which excludes amortization of intangible assets, restructuring and other charges, net, and certain corporate costs/credits not associated with the operations of the segment, including share-based compensation expense and a portion of depreciation expense associated with assets recorded in connection with acquisitions. Corporate and other costs excluded from an operating segment’s performance are separately stated below and also include costs that are related to functional areas, such as finance, information technology, legal, and human resources. We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments. However, this measure should be considered in addition to, and not as a substitute for, or superior to, operating income or other measures of financial performance prepared in accordance with U.S. GAAP. The accounting policies of each of our reporting segments are materially consistent with those in the summary of significant accounting policies as described in Note 2, "Significant Accounting Policies" included in our Annual Report on Form 10-K for the year ended December 31, 2019.

The following table presents net revenue and segment operating income for the reported segments and other operating results not allocated to the reported segments for the three months ended March 31, 2020 and 2019:

	For the three months ended
	March 31, 2020			March 31, 2019
Net revenue:
Performance Sensing	$	568,689		$	640,028
Sensing Solutions	205,580			230,471
Total net revenue	$	774,269		$	870,499
Segment operating income (as defined above):
Performance Sensing	$	129,062		$	150,509
Sensing Solutions	55,949			74,969
Total segment operating income	185,011			225,478
Corporate and other	(88,822		)	(41,430		)
Amortization of intangible assets	(33,092		)	(36,143		)
Restructuring and other charges, net	(4,498		)	(5,309		)
Operating income	58,599			142,596
Interest expense, net	(39,403		)	(39,253		)
Other, net	(12,281		)	3,189
Income before taxes	$	6,915		$	106,532