Business Segment Information

12 Months Ended

Dec. 31, 2014

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,
	2014			2013			2012
				As Restated			As Restated
Net Revenues
DAS	$	319,956		$	315,232		$	309,982
DLT	422,089			421,418			437,055
Total Net Revenues	$	742,045		$	736,650		$	747,037
Segment Operating Income (1)
DAS (4)	$	34,949		$	19,008		$	30,586
DLT (2)	34,599			37,030			41,013
	69,548			56,038			71,599
Corporate General and Administrative Expenses (1)(2)(3)	(17,781		)	(16,735		)	(14,677		)
Operating Income	$	51,767		$	39,303		$	56,922
Depreciation and Amortization Expenses
DAS	$	10,959		$	12,406		$	10,313
DLT	17,928			18,346			18,934
Corporate Administration	137			174			166
Total Depreciation and Amortization Expenses	$	29,024		$	30,926		$	29,413
Capital Expenditures
DAS	$	12,742		$	8,287		$	7,950
DLT	5,782			5,000			7,809
Corporate Administration	30			116			54
Total Capital Expenditures	$	18,554		$	13,403		$	15,813

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

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

(3) The 2014, 2013 and 2012 periods include approximately zero, $1.2 million and $0.6 million, respectively, of workers' compensation insurance expenses included in gross profit and not allocated to the operating segments.

(4) The 2013 period includes approximately $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 2014 and 2013:

	(In thousands) December 31,
	2014		2013
			As Restated
Total Assets
DAS	$	245,925	$	241,502
DLT	427,719		439,853
Corporate Administration	73,955		81,290
Total Assets	$	747,599	$	762,645
Goodwill and Intangibles
DAS	$	63,497	$	65,213
DLT	249,176		257,821
Total Goodwill and Intangibles	$	312,673	$	323,034