Business Segment Information

The Company’s operations are principally managed based upon the products that are produced and are comprised of three operating segments, which are the same as the Company’s reportable segments: Advanced Plastic Processing Technologies, Melt Delivery and Control Systems, and Fluid Technologies. The factors for determining the Company’s reportable segments include the manner in which management evaluates performance combined with the nature of the individual business activities. The Company evaluates the performance of its segments based on net sales and operating earnings. Operating earnings includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segments. Operating earnings for each segment excludes items that are of a non-operating nature or are of a corporate or functional governance nature. Costs excluded from segment operating earnings include interest expense, income taxes and various corporate expenses such as transaction costs associated with the acquisition of certain businesses, stock-based compensation expense and other separately managed general and administrative costs. The effects of intersegment transactions have been eliminated.

The following table summarizes total assets by segment:



	June 30, 2018		December 31, 2017
	(in millions)
Advanced Plastic Processing Technologies	$	521.3	$	524.8
Melt Delivery and Control Systems	1,093.6		1,104.5
Fluid Technologies	147.7		149.0
Corporate	55.9		80.5
Total assets	$	1,818.5	$	1,858.8

The following table summarizes long-lived assets, net by segment:



	June 30, 2018		December 31, 2017
	(in millions)
Advanced Plastic Processing Technologies	$	119.7	$	123.5
Melt Delivery and Control Systems	110.4		113.3
Fluid Technologies	17.0		17.8
Corporate	6.8		6.2
Total long-lived assets, net	$	253.9	$	260.8

The following tables summarize segment information:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
Net sales to external customers:
Advanced Plastic Processing Technologies	$	170.4	$	166.3	$	332.3	$	322.9
Melt Delivery and Control Systems	124.1		112.4		240.6		212.2
Fluid Technologies	33.6		30.5		65.6		59.5
Total net sales to external customers	$	328.1	$	309.2	$	638.5	$	594.6



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in millions)
Operating earnings (loss):
Advanced Plastic Processing Technologies	$	10.6		$	5.2		$	13.2		$	7.6
Melt Delivery and Control Systems	30.3			30.1			57.0			55.6
Fluid Technologies	6.4			5.5			12.4			10.1
Corporate	(12.1		)	(11.9		)	(24.3		)	(24.4		)
Total operating earnings	$	35.2		$	28.9		$	58.3		$	48.9
Capital expenditures:
Advanced Plastic Processing Technologies	$	2.8		$	4.0		$	5.1		$	9.9
Melt Delivery and Control Systems	4.7			7.5			8.8			14.1
Fluid Technologies	0.3			0.7			0.9			0.8
Corporate	0.8			0.1			1.1			0.2
Total capital expenditures	$	8.6		$	12.3		$	15.9		$	25.0
Depreciation and amortization:
Advanced Plastic Processing Technologies	$	4.5		$	4.9		$	9.0		$	9.7
Melt Delivery and Control Systems	8.4			8.0			16.9			16.2
Fluid Technologies	1.1			1.2			2.2			2.4
Corporate	0.3			0.2			0.6			0.5
Total depreciation and amortization	$	14.3		$	14.3		$	28.7		$	28.8

The following tables summarize net sales to external customers and long-lived assets, net by geographic region:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
Net sales to external customers:
United States	$	137.1	$	137.0	$	258.2	$	264.2
China	48.6		39.7		89.6		66.9
India	31.9		24.5		67.9		52.1
Rest of World	110.5		108.0		222.8		211.4
Total net sales to external customers	$	328.1	$	309.2	$	638.5	$	594.6



	June 30, 2018		December 31, 2017
	(in millions)
Long-lived assets, net:
United States	$	65.3	$	67.9
China	49.5		48.1
India	35.7		27.5
Czech Republic	38.5		48.2
Canada	29.5		31.0
Rest of World	35.4		38.1
Total long-lived assets, net	$	253.9	$	260.8