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Segments
 12 Months Ended
Dec. 31, 2019
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. 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, and 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.

For purposes of measuring business segment performance, the chief operating decision maker utilizes segment operating income, which is defined as revenues less expenses identifiable to the product lines within each segment. The Company does not allocate items that are non-operating; unusual in nature; or are corporate costs, which include but are not limited to executive compensation and corporate office costs. Segment operating income reconciles to consolidated income before income taxes by deducting corporate costs, certain non-cash and/or non-operating items; Other components of pension income and other postretirement benefits (“OPEB”) expense, net; and interest expense, net.

Results by business segment were as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Net sales:
 
 
 
 
 
Supply Technologies
$
611.5

 
$
636.8

 
$
561.8

Assembly Components
539.5

 
578.3

 
524.5

Engineered Products
467.3

 
443.0

 
326.6

 
$
1,618.3

 
$
1,658.1

 
$
1,412.9

Segment operating income:
 
 
 
 
 
Supply Technologies
$
42.0

 
$
49.0

 
$
43.3

Assembly Components
36.2

 
42.9

 
47.8

Engineered Products
37.7

 
38.4

 
19.5

Total segment operating income
115.9

 
130.3

 
110.6

Corporate costs
(28.5
)
 
(34.9
)
 
(30.1
)
One-time net expense related to former President
(4.3
)
 
—

 
—

Gain on sale of assets
—

 
1.9

 
—

Litigation settlement gain
—

 
—

 
3.3

Operating income
83.1

 
97.3

 
83.8

Other components of pension income and other postretirement benefits expense, net
5.6

 
8.8

 
6.4

Interest expense, net
(33.8
)
 
(34.3
)
 
(31.5
)
Loss on extinguishment of debt
—

 
—

 
(11.0
)
Income before income taxes
$
54.9

 
$
71.8

 
$
47.7


 
Year Ended December 31,
 
2019
 
2018
 
2017
Capital expenditures:
 
 
 
 
 
Supply Technologies
$
6.1

 
$
5.2

 
$
3.3

Assembly Components
19.5

 
24.3

 
18.6

Engineered Products
14.3

 
15.4

 
5.7

Corporate
0.2

 
0.2

 
0.3

 
$
40.1

 
$
45.1

 
$
27.9

Depreciation and amortization expense:
 
 
 
 
 
Supply Technologies
$
4.8

 
$
5.3

 
$
4.7

Assembly Components
20.1

 
22.2

 
20.7

Engineered Products
8.8

 
8.4

 
5.6

Corporate
0.5

 
0.4

 
0.5

 
$
34.2

 
$
36.3

 
$
31.5

Identifiable assets:
 
 
 
 
 
Supply Technologies
$
355.9

 
$
330.1

 
$
344.4

Assembly Components
413.4

 
378.3

 
351.4

Engineered Products
455.1

 
433.1

 
353.6

Corporate
86.0

 
67.0

 
83.1

 
$
1,310.4

 
$
1,208.5

 
$
1,132.5


At December 31, 2019, 2018 and 2017, approximately 71%, 68% and 65%, respectively, of the Company’s assets were located in the United States.