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Segments
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segments Segments

Our operating segments are defined as components of the enterprise for which separate financial information is available and evaluated on a regular basis by our chief operating decision maker to allocate resources and assess performance.

For purposes of measuring business segment performance, the Company 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 and share-based 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 expense, net; and interest expense, net.

Results by business segment were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
 
(In millions)
Net sales:
 
 
 
 
 
 
 
Supply Technologies
$
94.4

 
$
161.5

 
$
235.2

 
$
326.8

Assembly Components
54.9

 
136.3

 
183.1

 
274.6

Engineered Products
79.0

 
117.5

 
176.3

 
234.0

 
$
228.3

 
$
415.3

 
$
594.6

 
$
835.4

Segment operating (loss) income:
 
 
 
 
 
 
 
Supply Technologies
$
0.3

 
$
11.3

 
$
9.5

 
$
24.4

Assembly Components
(14.6
)
 
8.3

 
(8.3
)
 
16.6

Engineered Products
(0.8
)
 
11.5

 
3.0

 
19.6

Total segment operating (loss) income
(15.1
)
 
31.1

 
4.2

 
60.6

Corporate costs
(5.8
)
 
(7.5
)
 
(12.1
)
 
(14.5
)
One-time net expense related to former President(a)
—

 
(4.3
)
 
—

 
(4.3
)
Operating (loss) income
(20.9
)
 
19.3

 
(7.9
)
 
41.8

Other components of pension income and other postretirement benefits expense, net
1.8

 
1.5

 
3.6

 
2.8

Interest expense, net
(7.5
)
 
(8.7
)
 
(15.5
)
 
(16.9
)
(Loss) income before income taxes
$
(26.6
)
 
$
12.1

 
$
(19.8
)
 
$
27.7

 
 
 
 
 
 
 
 
(a) - In June 2019, Edward F. Crawford, our President, retired and resigned to become the U.S. Ambassador to Ireland. In connection with his resignation, the Company incurred one-time net expense of $4.3 million, consisting of a $6.0 million payment and reversal of $1.7 million of previously-recorded expense related to restricted stock forfeitures.