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Segment Information
6 Months Ended
Apr. 01, 2017
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Information
Segment Information
During 2016, we made changes to our segment reporting. Components now includes the Medical Devices product lines, which we previously reported as a separate segment. Space and Defense Controls now includes Linear, which we previously included in the Aircraft Controls segment. All amounts have been restated to present Medical Devices within Components, and Linear within Space and Defense Controls.
Below are sales and operating profit by segment for the three and six months ended April 1, 2017 and April 2, 2016 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
 
Six Months Ended
 
 
April 1,
2017
 
April 2,
2016
 
April 1,
2017
 
April 2,
2016
Net sales:
 
 
 
 
 
 
 
 
Aircraft Controls
 
$
289,661

 
$
272,073

 
$
558,111

 
$
526,030

Space and Defense Controls
 
105,848

 
92,871

 
198,778

 
176,389

Industrial Systems
 
115,431

 
128,244

 
227,830

 
253,423

Components
 
121,463

 
117,954

 
237,354

 
223,757

Net sales
 
$
632,403

 
$
611,142

 
$
1,222,073

 
$
1,179,599

Operating profit:
 
 
 
 
 
 
 
 
Aircraft Controls
 
$
31,181

 
$
19,742

 
$
54,292

 
$
38,174

Space and Defense Controls
 
10,488

 
12,657

 
17,584

 
24,172

Industrial Systems
 
12,318

 
13,270

 
23,019

 
26,903

Components
 
10,840

 
10,939

 
22,294

 
18,918

Total operating profit
 
64,827

 
56,608

 
117,189

 
108,167

Deductions from operating profit:
 
 
 
 
 
 
 
 
Interest expense
 
8,649

 
8,935

 
17,135

 
17,257

Equity-based compensation expense
 
986

 
983

 
3,154

 
1,919

Corporate and other expenses, net
 
6,989

 
6,073

 
12,209

 
12,719

Earnings before income taxes
 
$
48,203

 
$
40,617

 
$
84,691

 
$
76,272