Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note M - Segment Information

The Company designs, manufactures and sells hardware employed in the construction and maintenance of telecommunication, energy and other utility networks, data communication products and mounting hardware for solar power applications. Principal products include cable anchoring, control hardware and splice enclosures, which are sold primarily to customers in North and South America, Europe, South Africa and Asia-Pacific.

The Company reports its segments in four geographic regions: PLP-USA, The Americas, EMEA (Europe, Middle East & Africa) and Asia-Pacific in accordance with accounting standards codified in Financial Accounting Standards Board “FASB” Accounting Standards Codification “ASC” 280, “Segment Reporting”. Each segment distributes a full range of the Company’s primary products. The PLP-USA segment is comprised of U.S. operations manufacturing the Company’s traditional products primarily supporting domestic energy, telecommunications and solar products. The other three segments, The Americas, EMEA and Asia-Pacific support the Company’s energy, telecommunications, data communication and solar products in each respective geographical region.

The segment managers responsible for each region report directly to the Company’s Chief Executive Officer, who is the chief operating decision maker and are accountable for the financial results and performance of their entire segment for which they are responsible. The business components within each segment are managed to maximize the results of the entire company rather than the results of any individual business component of the segment.

The amount of each segment’s performance reported to the chief operating decision maker is for purposes of making decisions about allocating resources to the segment and assessing its performance. The Company evaluates segment performance and allocates resources based on several factors primarily based on sales and income from continuing operations, net of tax.

The accounting policies of the operating segments are the same as those described in Note A in the Notes to Consolidated Financial Statements. No single customer accounts for more than ten percent of the Company’s consolidated revenue. U.S. net sales for the years ended December 31, 2021, 2020, and 2019 were $257.6 million, $201.2 million and $178.3 million, respectively. U.S. long-lived assets as of December 31, 2021 and 2020 were $71.7 million and $44.2 million, respectively.

The following table presents a summary of the Company’s reportable segments for the years ended December 31, 2021, 2020 and 2019. Financial results for the PLP-USA segment include the elimination of all segments’ intercompany profits in inventory.

	Year Ended December 31
	2021			2020			2019
Net sales
PLP-USA	$	257,602		$	201,277		$	178,301
The Americas		70,732			74,192			68,293
EMEA		95,922			91,108			79,158
Asia-Pacific		93,161			99,872			119,109
Total net sales	$	517,417		$	466,449		$	444,861
Intersegment sales
PLP-USA	$	6,176		$	9,702		$	10,757
The Americas		9,486			9,938			7,774
EMEA		2,784			3,682			1,375
Asia-Pacific		21,610			14,452			12,720
Total intersegment sales	$	40,056		$	37,774		$	32,626
Interest income
PLP-USA	$	0		$	0		$	0
The Americas		138			112			412
EMEA		4			67			192
Asia-Pacific		27			80			179
Total interest income	$	169		$	259		$	783
Interest expense
PLP-USA	$	(665	)	$	(741	)	$	(972	)
The Americas		(368	)		(586	)		(466	)
EMEA		(309	)		(233	)		(149	)
Asia-Pacific		(681	)		(836	)		(630	)
Total interest expense	$	(2,023	)	$	(2,396	)	$	(2,217	)
Income taxes
PLP-USA	$	8,185		$	6,161		$	3,299
The Americas		3,250			2,461			2,551
EMEA		1,492			1,768			616
Asia-Pacific		248			420			1,656
Total income taxes	$	13,175		$	10,810		$	8,122
Net income attributable to Preformed Line Products Company shareholders
PLP-USA	$	24,384		$	16,564		$	8,054
The Americas		8,351			5,068			6,657
EMEA		3,715			6,644			2,935
Asia-Pacific		(721	)		1,527			5,657
Total net income	$	35,729		$	29,803		$	23,303

	Year Ended December 31
	2021		2020		2019
Expenditure for long-lived assets
PLP-USA	$	12,750	$	9,536	$	4,928
The Americas		1,289		3,527		2,864
EMEA		2,785		3,007		5,304
Asia-Pacific		1,560		8,499		16,371
Total expenditures for long-lived assets	$	18,384	$	24,569	$	29,467
Depreciation and amortization
PLP-USA	$	6,195	$	5,321	$	5,393
The Americas		1,855		1,710		1,862
EMEA		3,146		2,797		2,528
Asia-Pacific		4,368		4,010		3,965
Total depreciation and amortization	$	15,564	$	13,838	$	13,748

	As of December 31
	2021		2020
Identifiable assets
PLP-USA	$	177,288	$	137,689
The Americas		78,766		75,438
EMEA		106,929		106,922
Asia-Pacific		126,035		141,038
Total identifiable assets	$	489,018	$	461,087
Long-lived assets
PLP-USA	$	71,726	$	44,184
The Americas		15,663		16,507
EMEA		17,931		18,362
Asia-Pacific		44,454		46,912
Total long-lived assets	$	149,774	$	125,965