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Segment Information
3 Months Ended
Jan. 02, 2016
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Information
Segment Information
During 2015, we made a change to our segment reporting. Components now includes our sensor and handpieces product line, which we previously included in the Medical Devices segment. This product line consists of manufactured ultrasonic and optical sensors as well as surgical handpieces distributed to medical OEMs. Since the customer base is different from the sale of medical pumps directly to end users, the chief operating decision maker is now reviewing performance and assessing the allocation of resources of this product line as part of the Components segment. All historical amounts have been restated to conform to this new organization.
Below are sales and operating profit by segment for the three months ended January 2, 2016 and January 3, 2015 and a reconciliation of segment operating profit to earnings before income taxes. Operating profit is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation expense and other corporate expenses. Cost of sales and other operating expenses are directly identifiable to the respective segment or allocated on the basis of sales, number of employees or profit.
 
 
Three Months Ended
 
 
January 2,
2016
 
January 3,
2015
Net sales:
 
 
 
 
Aircraft Controls
 
$
254,835

 
$
266,368

Space and Defense Controls
 
82,640

 
99,955

Industrial Systems
 
125,179

 
133,366

Components
 
79,575

 
107,704

Medical Devices
 
26,228

 
23,130

Net sales
 
$
568,457

 
$
630,523

Operating profit:
 
 
 
 
Aircraft Controls
 
$
18,131

 
$
24,458

Space and Defense Controls
 
11,816

 
8,726

Industrial Systems
 
13,633

 
13,219

Components
 
4,700

 
16,962

Medical Devices
 
3,279

 
2,336

Total operating profit
 
51,559

 
65,701

Deductions from operating profit:
 
 
 
 
Interest expense
 
8,322

 
5,368

Equity-based compensation expense
 
936

 
3,398

Corporate and other expenses, net
 
6,646

 
7,497

Earnings before income taxes
 
$
35,655

 
$
49,438