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Segments
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Segments
Segments
The Company operates through three reportable segments: Supply Technologies, Assembly Components and Engineered Products. Supply Technologies provides our customers with Total Supply Management™ services for a broad range of high-volume, specialty production components. Total Supply Management™ manages the efficiencies of every aspect of supplying production parts and materials to our customers’ manufacturing floor, from strategic planning to program implementation, and includes such services as engineering and design support, part usage and cost analysis, supplier selection, quality assurance, bar coding, product packaging and tracking, just-in-time and point-of-use delivery, electronic billing services and ongoing technical support. Assembly Components manufactures cast aluminum components, automotive and industrial rubber and thermoplastic products, gasoline direct injection systems, fuel filler and hydraulic assemblies for automotive, agricultural equipment, construction equipment, heavy-duty truck and marine equipment industries. Assembly Components also provides value-added services such as design and engineering, machining and assembly. Engineered Products operates a diverse group of niche manufacturing businesses that design and manufacture a broad range of high quality products engineered for specific customer applications.
The Company primarily evaluates performance and allocates resources based on segment operating income as well as projected future performance. Segment operating income is defined as revenues less expenses identifiable to the product lines included within each segment. Segment operating income reconciles to consolidated income from continuing operations before income taxes by deducting corporate costs and other income or expense items that are not attributed to the segments and net interest expense.
Results by business segment were as follows:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(In millions)
Net sales:
 
 
 
 
 
Supply Technologies
$
559.6

 
$
471.9

 
$
483.8

Assembly Components
490.5

 
412.8

 
304.0

Engineered Products
328.6

 
318.5

 
340.4

 
$
1,378.7

 
$
1,203.2

 
$
1,128.2

Segment operating income:
 
 
 
 
 
Supply Technologies
$
42.5

 
$
35.0

 
$
37.5

Assembly Components
42.0

 
31.8

 
19.9

Engineered Products
42.7

 
47.1

 
55.0

Total segment operating income
127.2

 
113.9

 
112.4

Corporate costs
(29.3
)
 
(23.1
)
 
(18.9
)
Litigation judgment and settlement costs
—

 
(5.2
)
 
(13.0
)
Gain on acquisition of business
—

 
0.6

 
—

Interest expense
(26.1
)
 
(25.9
)
 
(26.0
)
Income from continuing operations before income taxes
$
71.8

 
$
60.3

 
$
54.5


 
Year Ended December 31,
 
2014
 
2013
 
2012
 
(In millions)
Identifiable assets:
 
 
 
 
 
Supply Technologies
$
277.6

 
$
241.7

 
$
207.0

Assembly Components
340.5

 
276.7

 
230.0

Engineered Products
246.9

 
183.1

 
199.4

General corporate
109.2

 
117.2

 
90.2

 
$
974.2

 
$
818.7

 
$
726.6

Depreciation and amortization expense:
 
 
 
 
 
Supply Technologies
$
4.5

 
$
3.0

 
$
3.9

Assembly Components
14.2

 
11.6

 
9.5

Engineered Products
3.3

 
3.4

 
3.2

General corporate
1.2

 
1.2

 
1.4

 
$
23.2

 
$
19.2

 
$
18.0

Capital expenditures:
 
 
 
 
 
Supply Technologies
$
5.8

 
$
3.8

 
$
1.6

Assembly Components
14.0

 
21.5

 
22.1

Engineered Products
2.4

 
3.6

 
3.1

General corporate
1.5

 
1.2

 
2.8

 
$
23.7

 
$
30.1

 
$
29.6


The percentage of net sales by product line included in each segment was as follows:
 
Year Ended December 31,
 
2014
 
2013
 
2012
Supply Technologies:
 
 
 
 
 
Supply Technologies
88
%
 
87
%
 
88
%
Engineered specialty products
12
%
 
13
%
 
12
%
 
100
%
 
100
%
 
100
%
Assembly Components:
 
 
 
 
 
Fluid routing
49
%
 
54
%
 
50
%
Aluminum products
43
%
 
37
%
 
39
%
Rubber and plastics
6
%
 
7
%
 
9
%
Screw products
2
%
 
2
%
 
2
%
 
100
%
 
100
%
 
100
%
Engineered Products:
 
 
 
 
 
Industrial equipment business
78
%
 
77
%
 
80
%
Forged and machined products
22
%
 
23
%
 
20
%
 
100
%
 
100
%
 
100
%

The Company’s approximate percentage of net sales by geographic region was as follows:
 
Year Ended
December 31,
 
2014
 
2013
 
2012
United States
74
%
 
74
%
 
77
%
Canada
7
%
 
8
%
 
8
%
Europe
6
%
 
5
%
 
4
%
Asia
6
%
 
6
%
 
6
%
Mexico
5
%
 
5
%
 
4
%
Other
2
%
 
2
%
 
1
%
 
100
%
 
100
%
 
100
%

The basis for attributing revenue to individual countries is final shipping destination.
At December 31, 2014, 2013 and 2012, approximately 72%, 77% and 81%, respectively, of the Company’s assets were maintained in the United States.