Segment And Geographic Information

6 Months Ended

Jun. 30, 2020

Segment And Geographic Information [Abstract]

Segment And Geographic Information

Note 18 – Segment and Geographic Information

The Company currently has manufacturing facilities in the Americas, Asia and Europe to serve its customers. The Company is operated and managed geographically, and management evaluates performance and allocates the Company’s resources on a geographic basis. Intersegment sales are generally recorded at prices that approximate arm’s length transactions. Operating segments’ measure of profitability is based on income from operations, which includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. The operating margin of each segment reflects the cost structure of the segments and are not comparable. The accounting policies for the reportable operating segments are the same as for the Company taken as a whole. The Company has three reportable operating segments: Americas, Asia and Europe. Information about operating segments is as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
(in thousands)			2020		2019			2020		2019
Net sales:
	Americas	$	288,800	$	404,162		$	603,196	$	796,220
	Asia		188,379		174,170			359,988		361,579
	Europe		40,224		45,898			87,224		89,858
	Elimination of intersegment sales		(26,437)		(22,628)			(44,478)		(43,235)
		$	490,966	$	601,602		$	1,005,930	$	1,204,422
Depreciation and amortization:
	Americas	$	5,762	$	5,296		$	11,347	$	10,677
	Asia		2,732		2,732			5,446		5,543
	Europe		700		758			1,425		1,572
	Corporate		3,145		3,167			6,313		6,333
		$	12,339	$	11,953		$	24,531	$	24,125
Income from operations:
	Americas	$	(787)	$	17,332		$	11,638	$	37,560
	Asia		17,024		13,072			28,022		28,457
	Europe		686		2,284			2,875		3,224
	Corporate and intersegment eliminations		(18,795)		(20,747)			(37,917)		(41,213)
			(1,872)		11,941			4,618		28,028
	Interest expense		(2,351)		(1,718)			(4,053)		(3,327)
	Interest income		287		1,053			886		2,350
	Other income (expense)		32		808			(630)		2,412
	Income before income taxes	$	(3,904)	$	12,084		$	821	$	29,463
Capital expenditures:
	Americas	$	6,598	$	2,947		$	15,858	$	7,700
	Asia		791		1,098			3,316		3,936
	Europe		196		343			1,042		731
	Corporate		2,809		1,033			3,074		3,128
		$	10,394	$	5,421		$	23,290	$	15,495

			June 30,	December 31,
(in thousands)			2020		2019
Total assets:
	Americas	$	792,837	$	792,180
	Asia		535,741		533,508
	Europe		127,069		139,977
	Corporate and other		302,388		294,209
		$	1,758,035	$	1,759,874

Geographic net sales information reflects the destination of the product shipped. Long-lived assets information is based upon the physical location of the asset.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
(in thousands)			2020		2019		2020		2019
Geographic net sales:
	United States	$	318,509	$	416,465	$	654,876	$	834,829
	Singapore		55,917		41,687		110,538		84,404
	Asia		40,207		50,058		78,526		93,965
	Europe		55,756		65,048		122,279		138,393
	Other Foreign		20,577		28,344		39,711		52,831
		$	490,966	$	601,602	$	1,005,930	$	1,204,422
						June 30,		December 31,
							2020		2019
Long-lived assets:
	United States					$	238,139	$	247,074
	Asia						71,472		76,507
	Europe						19,027		20,258
	Other						23,826		23,563
						$	352,464	$	367,402