Quarterly report pursuant to Section 13 or 15(d)

Segment and Geographic Information

v3.10.0.1
Segment and Geographic Information
6 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Segment and Geographic Information
Segment and Geographic Information
The Company is organized into three segments: Solid Capacitors, the Film and Electrolytic segment (“Film and Electrolytic”) and MSA. 
The segments are responsible for their respective manufacturing sites as well as their research and development efforts. The Company does not allocate corporate indirect selling, general and administrative (“SG&A”) or shared Research and development (“R&D”) expenses to the segments.
Solid Capacitors
Solid Capacitors operates in ten manufacturing sites in the United States, Mexico, and Asia, and operates innovation centers in the United States and Japan. Solid Capacitors primarily produces tantalum, aluminum polymer, and ceramic capacitors, which are sold globally. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
Film and Electrolytic
Film and Electrolytic operates in ten manufacturing sites throughout Europe and Asia, and maintain product innovation centers in Italy, Portugal, and Sweden. Film and Electrolytic primarily produces film, paper, and wet aluminum electrolytic capacitors, which are sold globally. In addition, the Film and Electrolytic segment designs and produces electromagnetic interference filters.
MSA
MSA operates in four manufacturing sites throughout Asia and operates a product innovation center in Japan. MSA primarily produces electro-magnetically compatible ("EMC") materials and devices, piezo materials and actuators, and various types of sensors, which are sold globally.
In the following tables, revenue is disaggregated by primary geographical market, sales channel, and major product lines. The table also includes a reconciliation of the disaggregated revenue with the reportable segments for the three and six months ended September 30, 2018 and 2017 (amounts in thousands):
 
Three Months Ended September 30, 2018
 
Solid Capacitors
 
Film and Electrolytic
 
MSA
 
Total
 
 
 
 
 
 
 
 
Primary geographical markets
 

 
 
 
 

 
 
Asia and the Pacific Rim ("APAC")
$
106,535

 
$
12,709

 
$
19,144

 
$
138,388

Europe, the Middle East, and Africa ("EMEA")
46,073

 
30,831

 
828

 
77,732

North and South America ("Americas")
73,345

 
6,844

 
2,100

 
82,289

Japan and Korea ("JPKO")
9,520

 
244

 
41,060

 
50,824

 
$
235,473

 
$
50,628

 
$
63,132

 
$
349,233

 
 
 
 
 
 
 
 
Sales Channel
 
 
 
 
 
 
 
OEM
$
74,550

 
$
20,095

 
$
59,387

 
$
154,032

Distributor
116,947

 
24,762

 
2,707

 
144,416

EMS
43,976

 
5,771

 
1,038

 
50,785

 
$
235,473

 
$
50,628

 
$
63,132

 
$
349,233

 
 
 
 
 
 
 
 
Major product lines
 

 
 
 
 

 
 
Tantalum
$
148,054

 
$

 
$

 
$
148,054

Ceramics
87,419

 

 

 
$
87,419

Film and Electrolytic

 
50,628

 

 
$
50,628

MSA

 

 
63,132

 
$
63,132

 
$
235,473

 
$
50,628

 
$
63,132

 
$
349,233


 
Three Months Ended September 30, 2017
 
Solid Capacitors
 
Film and Electrolytic
 
MSA
 
Total (1)
 
 
 
 
 
 
 
 
Primary geographical markets
 

 
 
 
 

 
 
APAC
$
95,315

 
$
14,164

 
$
19,097

 
$
128,576

EMEA
37,333

 
28,686

 
566

 
66,585

Americas
54,545

 
5,148

 
1,975

 
61,668

JPKO
4,074

 

 
40,665

 
44,739

 
$
191,267

 
$
47,998

 
$
62,303

 
$
301,568

 
 
 
 
 
 
 
 
Sales Channel
 
 
 
 
 
 
 
OEM
$
66,923

 
$
22,295

 
$
60,360

 
$
149,578

Distributor
85,472

 
20,224

 
1,761

 
107,457

EMS
38,872

 
5,479

 
182

 
44,533

 
$
191,267

 
$
47,998

 
$
62,303

 
$
301,568

 
 
 
 
 
 
 
 
Major product lines
 
 
 
 
 
 
 
Tantalum
$
125,404

 
$

 
$

 
$
125,404

Ceramics
65,863

 

 

 
65,863

Film and Electrolytic

 
47,998

 

 
47,998

MSA

 

 
62,303

 
62,303

 
$
191,267

 
$
47,998

 
$
62,303

 
$
301,568

 __________________
(1) Three months ended September 30, 2017 adjusted due to the adoption of ASC 606.
 
Six Months Ended September 30, 2018
 
Solid Capacitors
 
Film and Electrolytic
 
MSA
 
Total
 
 
 
 
 
 
 
 
Primary geographical markets
 

 
 
 
 

 
 
APAC
$
206,907

 
$
28,297

 
$
36,143

 
$
271,347

EMEA
87,538

 
63,439

 
1,403

 
152,380

Americas
136,449

 
13,493

 
4,498

 
154,440

JPKO
18,400

 
354

 
79,928

 
98,682

 
$
449,294

 
$
105,583

 
$
121,972

 
$
676,849

 
 
 
 
 
 
 
 
Sales Channel
 
 
 
 
 
 
 
OEM
$
144,938

 
$
42,536

 
$
115,487

 
$
302,961

Distributor
224,580

 
51,330

 
5,192

 
281,102

EMS
79,776

 
11,717

 
1,293

 
92,786

 
$
449,294

 
$
105,583

 
$
121,972

 
$
676,849

 
 
 
 
 
 
 
 
Major product lines
 

 
 
 
 

 
 
Tantalum
$
282,367

 
$

 
$

 
$
282,367

Ceramics
166,927

 

 

 
166,927

Film and Electrolytic

 
105,583

 

 
105,583

MSA

 

 
121,972

 
121,972

 
$
449,294

 
$
105,583

 
$
121,972

 
$
676,849

    
 
Six Months Ended September 30, 2017
 
Solid Capacitors
 
Film and Electrolytic
 
MSA
 
Total (1)
 
 
 
 
 
 
 
 
Primary geographical markets
 

 
 
 
 

 
 
APAC
$
167,971

 
$
28,463

 
$
39,551

 
$
235,985

EMEA
74,965

 
57,167

 
946

 
133,078

Americas
112,743

 
9,851

 
3,738

 
126,332

JPKO
17,707

 

 
62,412

 
80,119

 
$
373,386

 
$
95,481

 
$
106,647

 
$
575,514

 
 
 
 
 
 
 
 
Sales Channel
 
 
 
 
 
 
 
OEM
$
125,915

 
$
42,735

 
$
98,160

 
$
266,810

Distributor
172,392

 
41,627

 
8,187

 
222,206

EMS
75,079

 
11,119

 
300

 
86,498

 
$
373,386

 
$
95,481

 
$
106,647

 
$
575,514

 
 
 
 
 
 
 
 
Major product lines
 
 
 
 
 
 
 
Tantalum
$
241,854

 
$

 
$

 
$
241,854

Ceramics
131,532

 

 

 
131,532

Film and Electrolytic

 
95,481

 

 
95,481

MSA

 

 
106,647

 
106,647

 
$
373,386

 
$
95,481

 
$
106,647

 
$
575,514

 __________________
(1) Six months ended September 30, 2017 adjusted due to the adoption of ASC 606.
























    

The following table reflects each segment’s operating income (loss), depreciation and amortization expenses, and restructuring charges for the three and six months ended September 30, 2018 and 2017 (amounts in thousands):
 
Three Months Ended September 30,
 
Six Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Operating income (loss) (1):
 

 
 

 
 

 
 

Solid Capacitors
$
84,686

 
$
56,717

 
$
154,351

 
$
109,426

Film and Electrolytic
4,236

 
1,263

 
5,303

 
3,391

MSA
7,132

 
7,765

 
13,187

 
8,123

Corporate
(46,054
)
 
(34,148
)
 
(87,665
)
 
(61,736
)
 
$
50,000

 
$
31,597

 
$
85,176

 
$
59,204

Depreciation and amortization expense:
 

 
 

 
 

 
 

Solid Capacitors
$
7,353

 
$
7,547

 
$
14,535

 
$
14,590

Film and Electrolytic
2,198

 
2,781

 
4,818

 
5,553

MSA
1,153

 
790

 
2,657

 
1,504

Corporate
1,841

 
2,436

 
3,632

 
4,366

 
$
12,545

 
$
13,554

 
$
25,642

 
$
26,013

 __________________
(1) Restructuring charges included in Operating income (loss) are as follows (amounts in thousands).
 
Three Months Ended September 30,
 
Six Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Restructuring charges:
 

 
 

 
 

 
 

Solid Capacitors
$

 
$
416

 
$
(18
)
 
$
720

Film and Electrolytic

 
104

 
1

 
265

MSA

 

 

 

Corporate

 
873

 
(79
)
 
2,021

 
$

 
$
1,393

 
$
(96
)
 
$
3,006