Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segments

SegmentsThe Company operates three reportable segments: Supply Technologies, Assembly Components and Engineered Products. 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,
	2020		2019		2018
Net sales:
Supply Technologies	$	510.1	$	611.5	$	636.8
Assembly Components	441.5		539.5		578.3
Engineered Products	343.6		467.3		443.0
	$	1,295.2	$	1,618.3	$	1,658.1
Segment operating income:
Supply Technologies	$	30.2	$	42.0	$	49.0
Assembly Components	8.1		36.2		42.9
Engineered Products	3.5		37.7		38.4
Total segment operating income	41.8		115.9		130.3
Corporate costs	(26.1)		(28.5)		(34.9)
One-time net expense related to former President	—		(4.3)		—
Gain on sale of assets	—		—		1.9
Operating income	15.7		83.1		97.3
Other components of pension income and other postretirement benefits expense, net	7.3		5.6		8.8
Interest expense, net	(30.3)		(33.8)		(34.3)
(Loss) income before income taxes	$	(7.3)	$	54.9	$	71.8

	Year Ended December 31,
	2020		2019		2018
Capital expenditures:
Supply Technologies	$	6.5	$	6.1	$	5.2
Assembly Components	13.1		19.5		24.3
Engineered Products	6.5		14.3		15.4
Corporate	0.2		0.2		0.2
	$	26.3	$	40.1	$	45.1
Depreciation and amortization expense:
Supply Technologies	$	5.1	$	4.8	$	5.3
Assembly Components	20.7		20.1		22.2
Engineered Products	9.6		8.8		8.4
Corporate	0.4		0.5		0.4
	$	35.8	$	34.2	$	36.3
Identifiable assets:
Supply Technologies	$	347.6	$	355.9	$	330.1
Assembly Components	401.1		413.4		378.3
Engineered Products	439.7		455.1		433.1
Corporate	112.1		86.0		67.0
	$	1,300.5	$	1,310.4	$	1,208.5

At December 31, 2020, 2019 and 2018, approximately 70%, 71% and 68%, respectively, of the Company’s assets were located in the United States.