XML 62 R18.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Information
 3 Months Ended
Mar. 28, 2020
Segment Reporting [Abstract]  
Segment Information
Segment Information
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 on-board weighing applications.
VPG evaluates reporting segment performance based on multiple performance measures including third party net revenues, gross profits and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring costs, executive severance costs, and other items is meaningful because it provides insight with respect to the intrinsic operating results of VPG. The following table sets forth reporting segment information (in thousands):
 
Fiscal quarter ended
 
March 28, 2020
 
March 30, 2019
Net revenues:
 
 
 
Foil Technology Products
$
30,477

 
$
37,049

Force Sensors
14,695

 
16,732

Weighing and Control Systems
22,524

 
22,744

Total
$
67,696

 
$
76,525

 
 
 
 
Gross profit:
 
 
 
Foil Technology Products
$
11,201

 
$
16,579

Force Sensors
3,572

 
5,061

Weighing and Control Systems
10,292

 
11,411

Total
$
25,065

 
$
33,051

 
 
 
 
Reconciliation of segment operating income to consolidated results:
 
 
 
Foil Technology Products
$
5,384

 
$
10,306

Force Sensors
1,204

 
2,535

Weighing and Control Systems
4,668

 
6,575

Unallocated G&A expenses
(6,482
)
 
(6,813
)
Restructuring costs
(130
)
 
—

Operating income
$
4,644

 
$
12,603

 
 
 
 
Restructuring costs:
 
 
 
Foil Technology Products
$
(130
)
 
$
—

 
$
(130
)
 
$
—


Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. The table below summarizes intersegment sales (in thousands):
 
Fiscal quarter ended
 
March 28, 2020
 
March 30, 2019
Foil Technology Products to Force Sensors and Weighing and Control Systems
$
724

 
$
933

Force Sensors to Foil Technology Products and Weighing and Control Systems
$
—

 
$
427

Weighing and Control Systems to Foil Technology Products and Force Sensors
$
87

 
$
153