The Corporation organizes its business into two operating segments – Forged and Cast Engineered Products and Air and Liquid Processing. Summarized financial information concerning the Corporation’s reportable segments is shown in the following tables. Corporate assets included under Identifiable Assets represent primarily cash and cash equivalents and other items not allocated to reportable segments. Long-lived assets exclude deferred income tax assets. Corporate costs are comprised of operating costs of the corporate office and other costs not allocated to the segments. The accounting policies are the same as those described in Note 1, Summary of Significant Accounting Policies.

	Net Sales⁽¹⁾				(Loss) Income from Continuing Operations Before Income Taxes and Gain on Sale of Joint Venture
	2019		2018		2019			2018
Forged and Cast Engineered Products⁽²⁾	$	305,630	$	329,530	$	(6,130	)	$	(6,605	)
Air and Liquid Processing⁽³⁾		92,274		89,902		10,002			(22,129	)
Total Reportable Segments		397,904		419,432		3,872			(28,734	)
Corporate costs, including other income (expense)⁽⁴⁾	0		0			(12,239	)		(15,073	)
Consolidated total	$	397,904	$	419,432	$	(8,367	)	$	(43,807	)

	Capital Expenditures				Depreciation and Amortization Expense				Identifiable Assets⁽⁵⁾
	2019		2018		2019		2018		2019		2018
Forged and Cast Engineered Products	$	10,586	$	8,801	$	17,818	$	20,189	$	325,584	$	348,017
Air and Liquid Processing		378		911		963		996		172,992		187,449
Corporate		0		7		186		194		7,984		15,415
Consolidated total	$	10,964	$	9,719	$	18,967	$	21,379	$	506,560	$	550,881

	Long-Lived Assets⁽⁶⁾				(Loss) Income from Continuing Operations Before Income Taxes and Gain on Sale of Joint Venture
Geographic Areas:	2019		2018		2019			2018
United States	$	235,778	$	268,731	$	(13,996	)	$	(48,234	)
Foreign		74,373		71,334		5,629			4,427
Consolidated total	$	310,151	$	340,065	$	(8,367	)	$	(43,807	)

(1)

For the Forged and Cast Engineered Products segment, one customer accounted for 12% of its sales in 2019, and no customers exceeded 10% of its net sales for 2018. For the Air and Liquid Processing segment, one customer accounted for 12% of its net sales in 2019 and 13% of its net sales for 2018.

(2)

(Loss) income from continuing operations before income taxes and gain on sale of joint venture for the Forged and Cast Engineered Products segment for 2019 includes an impairment charge of $10,082 to record the Avonmore Plant to its estimated net realizable value less costs to sell in anticipation of its sale, which was completed in September 2019.

(3)

(Loss) income from continuing operations before income taxes and gain on sale of joint venture for the Air and Liquid Processing segment for 2018 includes a charge of $32,910 for the estimated costs of asbestos-related litigation through 2052, the estimated final date by which the Corporation expects to have settled all asbestos-related claims, net of estimated insurance recoveries.

(4)

Corporate costs, including other income (expense), for 2019 decreased from 2018 due to lower employee-related costs and professional fees and appreciation of plan assets held by the Rabbi Trust, offset by higher restructuring-related costs.

(5)

Identifiable assets for the Forged and Cast Engineered Products segment include investments in joint ventures of $2,175 at December 31, 2019, and 2018. The change in the identifiable assets of the Air and Liquid Processing segment relates primarily to the movement in asbestos-related insurance receivables, the balances of which equaled $136,932 and $152,508 at December 31, 2019, and 2018, respectively.

(6)

Foreign long-lived assets represent primarily assets of the foreign operations. Long-lived assets of the U.S. include noncurrent asbestos-related insurance receivables of $120,932 and $135,508 for 2019 and 2018, respectively.