Segment Information

6 Months Ended

Jun. 28, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company is a leading global, technology-driven developer, producer and marketer of engineered materials, primarily focused on the production of nonwoven products. The Company operates through four reportable segments, with the main source of revenue being the sales of primary and intermediate products to consumer and industrial markets. The Company has one major customer that accounts for over 10% of its business, the loss of which would have a material adverse impact on reported financial results. Sales to this customer are reported within each of the the Nonwoven segments.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies except that the segment results are prepared on a management basis that is consistent with the manner in which the Company desegregates financial information for internal review and decision making. Intercompany sales between the segments are eliminated.

Financial data by segment is as follows:

In thousands	Three Months Ended June 28, 2014			Three Months Ended June 29, 2013			Six Months Ended June 28, 2014			Six Months Ended June 29, 2013
Net sales:
Americas Nonwovens	$	235,419		$	159,444		$	448,937		$	312,449
Europe Nonwovens	139,458			72,938			283,079			151,212
Asia Nonwovens	46,173			42,428			93,688			80,395
Oriented Polymers	18,848			16,728			36,778			34,564
Total	$	439,898		$	291,538		$	862,482		$	578,620
Operating income (loss):
Americas Nonwovens	$	22,572		$	14,557		$	41,066		$	26,031
Europe Nonwovens	4,499			3,419			11,174			6,712
Asia Nonwovens	4,707			5,035			8,859			9,589
Oriented Polymers	1,836			1,431			3,092			3,023
Unallocated Corporate	(16,838		)	(14,364		)	(30,091		)	(24,055		)
Eliminations	(93		)	(23		)	(130		)	(61		)
Subtotal	16,683			10,055			33,970			21,239
Special charges, net	(24,264		)	(1,750		)	(32,975		)	(3,554		)
Total	$	(7,581	)	$	8,305		$	995		$	17,685
Depreciation and amortization expense:
Americas Nonwovens	$	14,445		$	8,086		$	26,970		$	16,403
Europe Nonwovens	7,494			3,004			12,975			6,063
Asia Nonwovens	5,524			4,808			11,096			8,197
Oriented Polymers	342			348			679			696
Unallocated Corporate	(292		)	421			48			853
Subtotal	27,513			16,667			51,768			32,212
Amortization of loan acquisition costs	1,274			607			2,300			1,214
Total	$	28,787		$	17,274		$	54,068		$	33,426
Capital spending:
Americas Nonwovens	$	12,282		$	1,233		$	20,501		$	2,051
Europe Nonwovens	1,512			501			4,021			1,049
Asia Nonwovens	4,884			9,964			7,484			22,523
Oriented Polymers	50			101			91			226
Corporate	957			384			1,703			651
Total	$	19,685		$	12,183		$	33,800		$	26,500

In thousands	June 28, 2014		December 28, 2013
Division assets:
Americas Nonwovens	$	1,507,745	$	736,363
Europe Nonwovens	363,203		361,555
Asia Nonwovens	264,748		265,729
Oriented Polymers	27,254		26,441
Corporate	79,783		66,913
Total	$	2,242,733	$	1,457,001