EnPro Industries(NPO) - 2020 Q4 - Annual Report

Sales and Revenue - Sealing Technologies segment generated approximately 43% of sales from customers outside the United States in 2020[41] - Advanced Surface Technologies segment achieved around 31% of sales from international customers in 2020[47] - Engineered Materials segment delivered approximately 72% of sales to customers outside the United States in 2020[51] Order Backlog - The backlog of orders for continuing operations was valued at $212.5 million as of December 31, 2020, up from $190.7 million in 2019[57] Research and Development - Research and development efforts focus on new sealing products, semiconductor manufacturing equipment cleaning technologies, and enhanced bearing products[56] - The company utilizes a comprehensive process to move product innovations from concept to commercialization, aimed at business growth[55] Quality Control - The company maintains stringent quality control standards, with 37 manufacturing and service facilities certified under ISO 9000, QS 9000, and/or TS 16949 as of December 31, 2020[59] Business Segments - The Sealing Technologies segment includes brands such as Garlock, Technetics, and STEMCO, known for reliability and performance[42] - Advanced Surface Technologies segment includes Technetics Semiconductor, LeanTeq, and Alluxa, focusing on high-performance products for demanding applications[43] - GGB and CPI are the two businesses within the Engineered Materials segment, providing engineered materials for various industrial markets[50] Workforce and Employment - As of December 31, 2020, the company had approximately 4,400 employees, with 55% in North America, 28% in Europe, 16% in Asia Pacific, and 1% in South America[63] - The company has a minimum wage of $15 per hour in the U.S. and offers a comprehensive benefits program including a 401k plan with company match and paid family leave[67] - The retention rate of women in the U.S. remained stable during the COVID-19 pandemic, contrasting with broader workforce trends[68] Corporate Social Responsibility - The company launched the EnPro Foundation in 2020, initially funding it with $1 million to support education, equality, and diversity initiatives[69] - The company emphasizes a "Dual Bottom Line" philosophy, focusing equally on human development and financial performance[64] Financial Obligations - The company has a fixed rate debt obligation of $350 million with an average interest rate of 5.8% as of December 31, 2020[308] - Outstanding borrowings on the term loan amounted to $145.4 million as of December 31, 2020, which has variable interest rates[308] - The notional amount of foreign exchange contracts hedging foreign currency transactions was $3.3 million as of December 31, 2020[309] - The company is exposed to commodity price fluctuations for materials such as steel and copper, which could negatively impact results[310] Safety Recognition - The company has been recognized as "America's Safest Company" on three occasions, with 2020 being the safest year in its history[71]