Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

Our business is aggregated into the following two reportable segments:

•Mobile Solutions, which is focused on growth in the automotive and general industrial end markets; and

•Power Solutions, which is focused on growth in the electrical, general industrial, automotive, and aerospace and defense, and medical end markets.

These divisions are considered our two operating segments as each engages in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the chief operating decision maker reviews discrete financial information for purposes of allocating resources and assessing performance. Historically, we had a third operating segment, Life Sciences, that was focused on growth in the medical end market. See Note 2 for information regarding the sale of the Life Sciences business on October 6, 2020. The results of the Life Sciences business are classified as discontinued operations for the three months ended March 31, 2020, and therefore are not included in the tabular presentation below.

The following tables present results of continuing operations by reportable segment.

	Mobile Solutions		Power Solutions		Corporate and Consolidations			Total
Three Months Ended March 31, 2021
Net sales	$	77,776	$	49,075	$	(47)	(a)	$	126,804
Income (loss) from operations	6,090		2,432		(7,544)			$	978
Interest expense								(2,024)
Other								(6,018)
Loss from continuing operations before income taxes and share of net income from joint venture								$	(7,064)
Three Months Ended March 31, 2020
Net sales	$	69,884	$	46,401	$	(72)	(a)	$	116,213
Goodwill impairment	—		92,942		—			$	92,942
Income (loss) from operations	264		(90,334)		(13,780)			$	(103,850)
Interest expense								(3,807)
Other								(1,544)
Loss from continuing operations before income taxes and share of net loss from joint venture								$	(109,201)

_______________________________

(a)Includes elimination of intersegment transactions occurring during the ordinary course of business.

As of March 31, 2021, and December 31, 2020, one customer represented 10% and 11%, respectively, of consolidated accounts receivable. Amounts due from this customer are primarily related to Mobile Solutions.