| Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
2016 |
|
2015 |
|
2014 |
Sales: |
|
|
|
|
|
Aerospace |
$ |
534,408 |
|
|
$ |
549,738 |
|
|
$ |
494,747 |
|
Less Inter-segment Sales |
(367 |
) |
|
— |
|
|
— |
|
Total Aerospace Sales |
534,041 |
|
|
549,738 |
|
|
494,747 |
|
|
|
|
|
|
|
Test Systems |
99,082 |
|
|
142,596 |
|
|
166,769 |
|
Less Inter-segment Sales |
— |
|
|
(55 |
) |
|
(477 |
) |
Test Systems |
99,082 |
|
|
142,541 |
|
|
166,292 |
|
Total Consolidated Sales |
$ |
633,123 |
|
|
$ |
692,279 |
|
|
$ |
661,039 |
|
Operating Profit (Loss) and Margins: |
|
|
|
|
|
Aerospace |
$ |
77,966 |
|
|
$ |
85,103 |
|
|
$ |
79,753 |
|
|
14.6 |
% |
|
15.5 |
% |
|
16.1 |
% |
Test Systems |
8,507 |
|
|
25,529 |
|
|
12,401 |
|
|
8.6 |
% |
|
17.9 |
% |
|
7.4 |
% |
Total Operating Profit |
86,473 |
|
|
110,632 |
|
|
92,154 |
|
|
13.7 |
% |
|
16.0 |
% |
|
13.9 |
% |
Deductions from Operating Profit: |
|
|
|
|
|
Interest Expense, Net of Interest Income |
(4,354 |
) |
|
(4,751 |
) |
|
(8,255 |
) |
Corporate and Other Expenses, Net |
(13,334 |
) |
|
(11,831 |
) |
|
(4,792 |
) |
Income before Income Taxes |
$ |
68,785 |
|
|
$ |
94,050 |
|
|
$ |
79,107 |
|
Depreciation and Amortization: |
|
|
|
|
|
Aerospace |
$ |
19,873 |
|
|
$ |
19,377 |
|
|
$ |
17,847 |
|
Test Systems |
5,273 |
|
|
5,209 |
|
|
8,786 |
|
Corporate |
644 |
|
|
723 |
|
|
621 |
|
Total Depreciation and Amortization |
$ |
25,790 |
|
|
$ |
25,309 |
|
|
$ |
27,254 |
|
Identifiable Assets: |
|
|
|
|
|
Aerospace |
$ |
500,892 |
|
|
$ |
510,884 |
|
|
$ |
468,481 |
|
Test Systems |
76,575 |
|
|
64,934 |
|
|
69,247 |
|
Corporate |
26,877 |
|
|
33,425 |
|
|
25,182 |
|
Total Assets |
$ |
604,344 |
|
|
$ |
609,243 |
|
|
$ |
562,910 |
|
Capital Expenditures: |
|
|
|
|
|
Aerospace |
$ |
9,511 |
|
|
$ |
16,503 |
|
|
$ |
35,650 |
|
Test Systems |
3,345 |
|
|
2,103 |
|
|
3,472 |
|
Corporate |
181 |
|
|
35 |
|
|
1,760 |
|
Total Capital Expenditures |
$ |
13,037 |
|
|
$ |
18,641 |
|
|
$ |
40,882 |
|
|
| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
|
2014 |
(In thousands) |
|
|
|
|
|
United States |
$ |
504,270 |
|
|
$ |
508,724 |
|
|
$ |
444,277 |
|
North America (excluding United States) |
12,331 |
|
|
13,044 |
|
|
8,717 |
|
Asia |
52,171 |
|
|
108,967 |
|
|
141,247 |
|
Europe |
61,200 |
|
|
57,936 |
|
|
64,742 |
|
South America |
577 |
|
|
1,112 |
|
|
1,192 |
|
Other |
2,574 |
|
|
2,496 |
|
|
864 |
|
|
$ |
633,123 |
|
|
$ |
692,279 |
|
|
$ |
661,039 |
|
The following table summarizes the Company’s property, plant and equipment by country for the years ended December 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
|
2014 |
(In thousands) |
|
|
|
|
|
United States |
$ |
114,048 |
|
|
$ |
115,117 |
|
|
$ |
105,698 |
|
France |
8,216 |
|
|
9,092 |
|
|
10,347 |
|
Canada |
548 |
|
|
533 |
|
|
271 |
|
|
$ |
122,812 |
|
|
$ |
124,742 |
|
|
$ |
116,316 |
|
|