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Reportable Segments
 9 Months Ended
Dec. 28, 2024
Reportable Segments [Abstract]  
Reportable Segments

12. Reportable Segments

 

The Company operates through operating segments and reports its financial results based on how its chief operating decision maker makes operating decisions, assesses the performance of the business, and allocates resources. Our operating segments are our reportable segments. These reportable operating segments are Aerospace/Defense and Industrial and are described below.

 

Aerospace/Defense. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, and sea and ground defense applications.

 

Industrial. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: power transmission; construction, mining, energy and specialized equipment manufacturing; semiconductor production equipment manufacturing; agricultural machinery, commercial truck and automotive manufacturing; and tool holding.

 

Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Where not separately disclosed, corporate costs are allocated to each segment. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

 

   Three Months Ended   Nine Months Ended 
   December 28,
2024		   December 30,
2023		   December 28,
2024		   December 30,
2023		 
Net External Sales                
Aerospace/Defense   $143.2   $129.2   $435.5   $377.0 
Industrial    251.2    244.7    763.1    769.6 
   $394.4   $373.9   $1,198.6   $1,146.6 
Gross Margin                    
Aerospace/Defense   $57.9   $53.3   $177.8   $151.2 
Industrial    117.0    104.7    354.9    341.0 
   $174.9   $158.0   $532.7   $492.2 
Selling, General & Administrative Expenses                    
Aerospace/Defense   $10.4   $9.9   $31.1   $28.1 
Industrial    34.2    32.6    101.4    98.4 
Corporate    25.5    21.4    74.7    62.6 
   $70.1   $63.9   $207.2   $189.1 
Operating Income                    
Aerospace/Defense   $46.8   $38.6   $143.7   $115.1 
Industrial    68.2    59.3    209.2    199.9 
Corporate    (29.4)   (22.7)   (83.7)   (67.0)
   $85.6   $75.2   $269.2   $248.0 

 

    December 28,
2024		     March 30,
2024		  
Total Assets            
Aerospace/Defense   $ 835.9     $ 798.6  
Industrial     3,738.2       3,779.6  
Corporate     91.6       100.4  
    $ 4,665.7     $ 4,678.6