Segment and Geographic Data

VPG reports in three product segments: the Foil Technology Products segment, the Force Sensors segment, and the Weighing and Control Systems segment. The Foil Technology Products reporting segment is comprised of the foil resistor and strain gage operating segments. The Force Sensors reporting segment is comprised of transducers, load cells, and modules. The Weighing and Control Systems reporting segment is comprised of complete systems which include load cells and instrumentation for weighing, force control and force measurement for a variety of uses such as process control and on-board weighing applications.

VPG evaluates reporting segment performance based on multiple performance measures including gross profits, revenues, and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring and severance costs, and other items is meaningful because it provides insight with respect to the intrinsic operating results of VPG. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 1). Reporting segment assets are the owned or allocated assets used by each segment. Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products.

The following table sets forth reporting segment information (in thousands):



	Foil Technology Products		Force Sensors		Weighing and Control Systems		Corporate/ Other			Total
2019
Net third-party revenues	$	131,803	$	64,357	$	87,798	$	—		$	283,958
Intersegment revenues	4,067		1,068		463		(5,598		)	—
Gross profit	53,292		18,022		40,303		—			111,617
Segment operating income (loss)	29,873		8,643		21,058		(30,926		)	28,648
Acquisition costs	—		—		443		—			443
Executive severance costs	—		—		—		611			611
Restructuring costs	86		2,041		—		166			2,293
Depreciation and amortization expense	5,870		2,442		2,200		1,283			11,795
Capital expenditures	7,011		2,237		1,243		38			10,529
Total assets	116,920		75,885		158,597		19,011			370,413

2018
Net third-party revenues	$	141,009	$	73,186	$	85,599	$	—		$	299,794
Intersegment revenues	3,878		1,365		577		(5,820		)	—
Gross profit	61,562		20,001		39,704		—			121,267
Segment operating income (loss)	38,404		10,514		20,508		(32,203		)	37,223
Impairment of goodwill and indefinite-lived intangibles	2,820		—		—		—			2,820
Restructuring costs	—		289		—		—			289
Depreciation and amortization expense	5,173		2,323		2,121		1,014			10,631
Capital expenditures	9,239		2,483		1,370		147			13,239
Total assets	132,918		82,637		95,954		14,874			326,383

2017
Net third-party revenues	$	116,272	$	65,446	$	72,632	$	—		$	254,350
Intersegment revenues	2,316		1,346		911		(4,573		)	—
Gross profit	47,755		18,192		32,336		—			98,283
Segment operating income (loss)	26,426		9,274		14,770		(27,982		)	22,488
Restructuring costs	85		849		602		508			2,044
Depreciation and amortization expense	4,946		2,537		2,133		1,010			10,626
Capital expenditures	4,519		4,297		823		453			10,092
Total assets	119,175		77,756		97,007		12,613			306,551

The “Corporate/Other” column for segment operating income (loss) includes unallocated selling, general, and administrative expenses and certain items which management excludes from segment results when evaluating segment performance, as follows (in thousands):



	Years ended December 31,
	2019			2018			2017
Unallocated selling, general, and administrative expenses	$	(27,579	)	$	(29,094	)	$	(25,938	)
Acquisition costs	(443		)	—			—
Impairment of goodwill and indefinite-lived intangibles	—			(2,820		)	—
Executive severance costs	(611		)	—			—
Restructuring costs	(2,293		)	(289		)	(2,044		)
	$	(30,926	)	$	(32,203	)	$	(27,982	)

The following geographic data includes property and equipment based on physical location (in thousands):



	December 31,
Property and Equipment - Net	2019		2018
United States	$	12,009	$	10,933
United Kingdom	4,011		3,960
Other Europe	1,498		1,430
Israel	22,903		22,682
Asia	19,118		19,090
Canada and Other	1,731		1,324
	$	61,270	$	59,419