Segment And Geographic Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment And Geographic Information

Note 17 – 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. 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 June 30,						Six Months Ended June 30,
(in thousands)	2021			2020			2021			2020
Net sales:
Americas	$	292,270		$	288,800		$	569,108		$	603,196
Asia		222,539			188,379			410,843			359,988
Europe		51,620			40,224			112,500			87,224
Elimination of intersegment sales		(21,767	)		(26,437	)		(42,068	)		(44,478	)
	$	544,662		$	490,966		$	1,050,383		$	1,005,930
Depreciation and amortization:
Americas	$	5,252		$	5,762		$	10,547		$	11,347
Asia		2,657			2,732			5,343			5,446
Europe		692			700			1,404			1,425
Corporate		2,338			3,145			4,700			6,313
	$	10,939		$	12,339		$	21,994		$	24,531
Income (loss) from operations:
Americas	$	11,995		$	(787	)	$	20,229		$	11,638
Asia		25,467			17,024			42,819			28,022
Europe		1,702			686			6,940			2,875
Corporate and intersegment eliminations		(28,465	)		(18,795	)		(47,355	)		(37,917	)
		10,699			(1,872	)		22,633			4,618
Interest expense		(2,079	)		(2,351	)		(4,228	)		(4,053	)
Interest income		164			287			329			886
Other income (expense)		440			32			164			(630	)
Income (loss) before income taxes	$	9,224		$	(3,904	)	$	18,898		$	821
Capital expenditures:
Americas	$	6,923		$	6,598		$	11,842		$	15,858
Asia		2,129			791			2,334			3,316
Europe		2,433			196			2,719			1,042
Corporate		712			2,809			1,724			3,074
	$	12,197		$	10,394		$	18,619		$	23,290

	June 30,		December 31,
(in thousands)	2021		2020
Total assets:
Americas	$	811,692	$	777,658
Asia		609,269		532,793
Europe		169,411		146,277
Corporate		228,419		287,507
	$	1,818,791	$	1,744,235

Geographic net sales information provided below reflects the destination of the product shipped. Long-lived assets information is based on the physical location of the asset and includes property, plant and equipment, net, operating lease right-of-use assets, and other long-term assets, net.

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2021		2020		2021		2020
Geographic net sales:
United States	$	321,605	$	318,509	$	618,648	$	654,876
Singapore		78,598		55,917		141,755	$	110,538
Other Asia		46,258		40,207		85,103		78,526
Europe		66,965		55,756		142,291		122,279
Other		31,236		20,577		62,586		39,711
	$	544,662	$	490,966	$	1,050,383	$	1,005,930
					June 30,		December 31,
(in thousands)					2021		2020
Long-lived assets:
United States					$	235,650	$	235,193
Asia						66,800		69,669
Europe						29,691		18,002
Other						22,616		21,980
					$	354,757	$	344,844