Segment Information

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Information

Note 9 — Segment Information

The financial results for our operating segments are prepared using a management approach, which is consistent with the basis and manner in which we internally segregate financial information for the purpose of assisting in making internal operating decisions. We evaluate the performance of our operating segments based on operating income, and generally account for intersegment sales based on arm’s length prices. Corporate and certain other expenses are not allocated to the operating segments, except to the extent that the expense can be directly attributable to the business segment.

Financial information for our operating segments for the quarters ended March 31, 2017 and 2016 is as follows:

	(Unaudited)
	Composite		Engineered		Corporate &
(In millions	Materials		Products		Other (a)			Total
First Quarter 2017
Net sales to external customers	$	387.5	$	91.3	$	—		$	478.8
Intersegment sales		17.1	$	—		(17.1	)		—
Total sales		404.6		91.3		(17.1	)		478.8
Operating income		81.9		13.0		(16.3	)		78.6
Depreciation and amortization		22.5		1.8		0.1			24.4
Stock-based compensation		3.4		0.7		6.8			10.9
Accrual basis additions to capital expenditures		86.6		6.3		—			92.9
First Quarter 2016
Net sales to external customers	$	395.8	$	101.9	$	—		$	497.7
Intersegment sales		18.1		—		(18.1	)		—
Total sales		413.9		101.9		(18.1	)		497.7
Operating income		90.8		12.3		(19.2	)		83.9
Depreciation and amortization		20.4		1.8		—			22.2
Stock-based compensation		3.1		0.6		6.8			10.5
Accrual basis additions to capital expenditures		70.0		3.3		—			73.3
_________________

(a) We do not allocate Corporate expenses to the operating segments

Goodwill and Intangible Assets

The carrying amount of gross goodwill and intangible assets by segment is as follows:

(In millions)	March 31, 2017		December 31, 2016
Composite Materials	$	56.5	$	56.1
Engineered Products		16.1		16.1
Goodwill and intangible assets	$	72.6	$	72.2

No impairments have been recorded against these amounts.