Operating Segments and Related Information

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Operating Segments and Related Information

Operating Segments and Related Information

Operating Segments

In February 2014, the Company announced a realignment of its business which resulted in the elimination of its division structure and the formation of six reportable operating segments effective as of January 1, 2014. Those operating segments are as follows:

Surveillance

The Surveillance segment develops and manufactures enhanced imaging and recognition solutions for a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. Offerings include airborne, land, maritime, and man-portable multi-spectrum imaging systems, radars, lasers, imaging components, integrated multi-sensor system platforms, and services related to these systems.

Instruments

The Instruments segment develops and manufactures devices that image, measure, and assess thermal energy, gases, and other environmental elements for industrial, commercial, and scientific applications. Products include thermal imaging cameras, gas detection cameras, firefighting cameras, process automation cameras, and environmental test and measurement devices.

OEM and Emerging Markets

The OEM and Emerging Markets segment develops and manufactures thermal imaging camera cores and components that are utilized by third parties to create thermal and other types of imaging systems. The segment also develops and manufactures intelligent traffic systems and hand-held and weapon-mounted thermal imaging systems for use by consumers and law enforcement.

Maritime

The Maritime segment develops and manufactures electronics and imaging instruments for the recreational and commercial maritime market. The segment provides a full suite of networked electronic systems including multi-function helm displays, navigational instruments, autopilots, radars, sonar systems, thermal and visible imaging systems, and communications equipment for boats of all sizes.

Security

The Security segment develops and manufactures cameras and video recording systems for use in commercial, critical infrastructure, and home security applications. Products include thermal and visible-spectrum cameras, digital and networkedvideo recorders, and related software and accessories that enable the efficient and effective safeguarding of assets at all hours of the day and through adverse weather conditions.

Detection

The Detection segment develops and manufactures sensor instruments and integrated platform solutions for the detection, identification, and suppression of chemical, biological, radiological, nuclear, and explosives threats for military force protection, homeland security, and commercial applications.

Note 17.        Operating Segments and Related Information - (Continued)

Operating Segments - (Continued)

Operating segment information is as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
				(as reclassified)						(as reclassified)
Revenue – External Customers:
Surveillance	$	119,126		$	126,591		$	342,105		$	392,439
Instruments	82,561			77,199			250,583			236,011
OEM and Emerging Markets	56,105			54,782			168,895			153,700
Maritime	44,728			41,297			152,533			146,437
Security	48,648			35,409			122,692			99,331
Detection	24,198			22,863			59,480			68,135
	$	375,366		$	358,141		$	1,096,288		$	1,096,053
Revenue – Intersegments:
Surveillance	$	2,659		$	1,942		$	6,642		$	5,119
Instruments	74			2,119			548			4,342
OEM and Emerging Markets	4,721			6,762			15,277			19,601
Maritime	804			—			2,308			—
Security	2,971			—			7,361			—
Detection	4			6			64			1,730
Elimination	(11,233		)	(10,829		)	(32,200		)	(30,792		)
	$	—		$	—		$	—		$	—
Earnings (loss) from operations:
Surveillance	$	30,070		$	29,836		$	69,366		$	97,810
Instruments	23,191			20,433			64,678			63,378
OEM and Emerging Markets	16,121			16,814			45,445			43,453
Maritime	4,614			2,966			23,159			20,447
Security	6,988			4,460			14,560			12,097
Detection	4,167			4,102			5,519			10,547
Other	(15,142		)	(15,072		)	(50,903		)	(44,790		)
	$	70,009		$	63,539		$	171,824		$	202,942

	September 30, 2014		December 31, 2013
			(as reclassified)
Segment assets (accounts receivable, net and inventories):
Surveillance	$	279,925	$	282,037
Instruments	109,180		117,336
OEM and Emerging Markets	83,828		88,317
Maritime	64,854		68,915
Security	55,501		45,053
Detection	48,571		29,634
	$	641,859	$	631,292

Note 17.        Operating Segments and Related Information - (Continued)

Operating Segments - (Continued)

Revenue and Long-Lived Assets by Geographic Area

Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
United States	$	192,049	$	191,261	$	544,895	$	576,278
Europe	81,438		81,748		262,282		260,474
Other international	101,879		85,132		289,111		259,301
	$	375,366	$	358,141	$	1,096,288	$	1,096,053

Long-lived assets by significant geographic locations are as follows (in thousands):

	September 30, 2014		December 31, 2013
United States	$	616,777	$	600,261
Europe	330,776		359,444
Other international	52,898		56,040
	$	1,000,451	$	1,015,745

Major Customers

Revenue derived from major customers is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
US Government	$	77,496	$	89,866	$	227,715	$	282,470