Business Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, DAS and DLT, each of which is a reportable operating segment.

Financial information by reportable operating segment was as follows:

	(In thousands) Years Ended December 31,
	2013			2012			2011
Net Sales
DAS	$	315,232		$	309,982		$	292,759
DLT	421,418			437,055			288,155
Total Net Sales	$	736,650		$	747,037		$	580,914
Segment Operating Income (Loss) (1)
DAS (5)	$	18,122		$	28,792		$	25,798
DLT (2)(3)	36,181			40,698			(33,390		)
	54,303			69,490			(7,592		)
Corporate General and Administrative Expenses (1)(2)(4)	(16,735		)	(14,677		)	(26,535		)
Operating Income (Loss)	$	37,568		$	54,813		$	(34,127	)
Depreciation and Amortization Expenses
DAS	$	12,406		$	10,313		$	9,953
DLT	18,346			18,934			11,445
Corporate Administration	174			166			60
Total Depreciation and Amortization Expenses	$	30,926		$	29,413		$	21,458
Capital Expenditures
DAS	$	8,287		$	7,950		$	8,798
DLT	5,000			7,809			5,454
Corporate Administration	116			54			284
Total Capital Expenditures	$	13,403		$	15,813		$	14,536

(1) Includes cost not allocated to either the DLT or DAS operating segments.

(2) The 2012 and 2011 periods include merger-related transaction costs of $0.3 million and $12.4 million, respectively, in Corporate General and Administrative Expenses related to the LaBarge Acquisition. In addition, the 2012 and 2011 periods include $0.4 million and $3.7 million, respectively, in DLT resulting from a change-in-control provision for certain key executives and employees arising in connection with the LaBarge Acquisition.

(3) Includes approximately $54.3 million of goodwill impairment expense in 2011.

(4) The 2013, 2012 and 2011 periods include $1.2 million, $0.6 million and $0.5 million, respectively, of workers' compensation insurance expenses included in gross profit and not allocated to the operating segments.

(5) The 2013 period includes $14.1 million in charges related to fourth quarter asset impairment charges of $5.7 million on the Embraer Legacy 450/500 contracts and $1.3 million on the Boeing 777 wing tip contract; forward loss reserves of $3.9 million on the Embraer Legacy 450/500 contracts and $1.3 million on the Boeing 777 wing tip contract; and inventory write-offs of $1.9 million on the Embraer Legacy 450/500 contracts.

Segment assets include assets directly identifiable with each segment. Corporate assets include assets not specifically identified with a business segment, including cash. The following table summarizes our segment assets for 2013 and 2012:

	(In thousands) December 31,
	2013		2012
Total Assets
DAS	$	241,502	$	248,326
DLT	444,224		465,217
Corporate Administration	78,473		66,546
Total Assets	$	764,199	$	780,089
Goodwill and Intangibles
DAS	$	65,213	$	67,459
DLT	262,192		270,837
Total Goodwill and Intangibles	$	327,405	$	338,296