| Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
2017 |
|
2016 |
|
2015 |
Sales: |
|
|
|
|
|
Aerospace |
$ |
534,724 |
|
|
$ |
534,408 |
|
|
$ |
549,738 |
|
Less Inter-segment Sales |
(121 |
) |
|
(367 |
) |
|
— |
|
Total Aerospace Sales |
534,603 |
|
|
534,041 |
|
|
549,738 |
|
|
|
|
|
|
|
Test Systems |
89,861 |
|
|
99,082 |
|
|
142,596 |
|
Less Inter-segment Sales |
— |
|
|
— |
|
|
(55 |
) |
Test Systems |
89,861 |
|
|
99,082 |
|
|
142,541 |
|
Total Consolidated Sales |
$ |
624,464 |
|
|
$ |
633,123 |
|
|
$ |
692,279 |
|
Operating Profit and Margins: |
|
|
|
|
|
Aerospace |
$ |
38,888 |
|
|
$ |
77,966 |
|
|
$ |
85,103 |
|
|
7.3 |
% |
|
14.6 |
% |
|
15.5 |
% |
Test Systems |
7,359 |
|
|
8,507 |
|
|
25,529 |
|
|
8.2 |
% |
|
8.6 |
% |
|
17.9 |
% |
Total Operating Profit |
$ |
46,247 |
|
|
$ |
86,473 |
|
|
$ |
110,632 |
|
|
7.4 |
% |
|
13.7 |
% |
|
16.0 |
% |
Deductions from Operating Profit: |
|
|
|
|
|
Interest Expense, Net of Interest Income |
$ |
(5,369 |
) |
|
$ |
(4,354 |
) |
|
$ |
(4,751 |
) |
Corporate and Other Expenses, Net |
(15,887 |
) |
|
(13,334 |
) |
|
(11,831 |
) |
Income before Income Taxes |
$ |
24,991 |
|
|
$ |
68,785 |
|
|
$ |
94,050 |
|
Depreciation and Amortization: |
|
|
|
|
|
Aerospace |
$ |
22,111 |
|
|
$ |
19,873 |
|
|
$ |
19,377 |
|
Test Systems |
4,302 |
|
|
5,273 |
|
|
5,209 |
|
Corporate |
650 |
|
|
644 |
|
|
723 |
|
Total Depreciation and Amortization |
$ |
27,063 |
|
|
$ |
25,790 |
|
|
$ |
25,309 |
|
Assets: |
|
|
|
|
|
Aerospace |
$ |
621,047 |
|
|
$ |
500,892 |
|
|
$ |
510,884 |
|
Test Systems |
90,859 |
|
|
76,575 |
|
|
64,934 |
|
Corporate |
24,050 |
|
|
26,877 |
|
|
33,425 |
|
Total Assets |
$ |
735,956 |
|
|
$ |
604,344 |
|
|
$ |
609,243 |
|
Capital Expenditures: |
|
|
|
|
|
Aerospace |
$ |
10,656 |
|
|
$ |
9,511 |
|
|
$ |
16,503 |
|
Test Systems |
2,721 |
|
|
3,345 |
|
|
2,103 |
|
Corporate |
101 |
|
|
181 |
|
|
35 |
|
Total Capital Expenditures |
$ |
13,478 |
|
|
$ |
13,037 |
|
|
$ |
18,641 |
|
|
| Summarizes the Company's Sales and Long-Lived Assets by Geographic Region |
The following table summarizes the Company’s sales into the following geographic regions for the years ended December 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 |
|
2016 |
|
2015 |
(In thousands) |
|
|
|
|
|
United States |
$ |
482,219 |
|
|
$ |
504,270 |
|
|
$ |
508,724 |
|
North America (excluding United States) |
6,198 |
|
|
12,331 |
|
|
13,044 |
|
Asia |
58,732 |
|
|
52,171 |
|
|
108,967 |
|
Europe |
73,677 |
|
|
61,200 |
|
|
57,936 |
|
South America |
1,280 |
|
|
577 |
|
|
1,112 |
|
Other |
2,358 |
|
|
2,574 |
|
|
2,496 |
|
|
$ |
624,464 |
|
|
$ |
633,123 |
|
|
$ |
692,279 |
|
The following table summarizes the Company’s property, plant and equipment by country for the years ended December 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017 |
|
2016 |
|
2015 |
(In thousands) |
|
|
|
|
|
United States |
$ |
116,026 |
|
|
$ |
114,048 |
|
|
$ |
115,117 |
|
France |
9,094 |
|
|
8,216 |
|
|
9,092 |
|
Canada |
710 |
|
|
548 |
|
|
533 |
|
|
$ |
125,830 |
|
|
$ |
122,812 |
|
|
$ |
124,742 |
|
|