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Segment Information | 9 Months Ended
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Jun. 30, 2018
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] |
Segment Information | Segment Information Effective October 1, 2017, we made changes to our segment reporting structure that resulted in three reporting segments. Our former Components segment has been separated and merged into Space and Defense Controls and Industrial Systems. All amounts have been restated to reflect this change. Below are sales and operating profit by segment for the three and nine months ended June 30, 2018 and July 1, 2017 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. Refer to Note 11, Restructuring, for the impact of amounts charged to expense that are reflected in the operating profit of the Industrial Systems segment.
|  | Three Months Ended |  | Nine Months Ended
|  | June 30, 2018 |  | July 1, 2017 |  | June 30, 2018 |  | July 1, 2017
Net sales: |  |  |  |  |  |  |  |
Aircraft Controls |  | $ | 299,605 |  |  | $ | 282,555 |  |  | $ | 889,578 |  |  | $ | 840,666 |
Space and Defense Controls |  | 149,815 |  |  | 128,049 |  |  | 426,735 |  |  | 389,473 |
Industrial Systems |  | 242,598 |  |  | 215,579 |  |  | 692,289 |  |  | 618,117 |
Net sales |  | $ | 692,018 |  |  | $ | 626,183 |  |  | $ | 2,008,602 |  |  | $ | 1,848,256 |
Operating profit: |  |  |  |  |  |  |  |
Aircraft Controls |  | $ | 33,342 |  |  | $ | 29,080 |  |  | $ | 97,590 |  |  | $ | 83,372 |
Space and Defense Controls |  | 16,513 |  |  | 12,789 |  |  | 49,643 |  |  | 33,258 |
Industrial Systems |  | 24,283 |  |  | 21,726 |  |  | 37,479 |  |  | 64,154 |
Total operating profit |  | 74,138 |  |  | 63,595 |  |  | 184,712 |  |  | 180,784 |
Deductions from operating profit: |  |  |  |  |  |  |  |
Interest expense |  | 8,850 |  |  | 8,654 |  |  | 26,585 |  |  | 25,789 |
Equity-based compensation expense |  | 894 |  |  | 997 |  |  | 4,394 |  |  | 4,151 |
Corporate and other expenses, net |  | 9,439 |  |  | 5,671 |  |  | 25,275 |  |  | 17,880 |
Earnings before income taxes |  | $ | 54,955 |  |  | $ | 48,273 |  |  | $ | 128,458 |  |  | $ | 132,964 |
The amounts reclassified for net sales and operating profit as a result of the revised segment reporting structure for the three and nine months ended July 1, 2017 are as follows:
|  | Three Months Ended |  | Nine Months Ended
Net sales: |  |  |  |
Space and Defense Controls |  | $ | 33,531 |  |  | $ | 96,177 |
Industrial Systems |  | 93,089 |  |  | 267,797 |
Total |  | $ | 126,620 |  |  | $ | 363,974 |
Operating profit: |  |  |  |
Space and Defense Controls |  | $ | 2,784 |  |  | $ | 5,669 |
Industrial Systems |  | 9,255 |  |  | 28,664 |
Total |  | $ | 12,039 |  |  | $ | 34,333 |
Segment assets for Space and Defense Controls and Industrial Systems are approximately $645,000 and $1,120,000, respectively, as of June 30, 2018, primarily as a result of the change to our segment reporting structure. Corporate assets not allocated to our reporting segments, have decreased from $270,411 as of September 30, 2017 to approximately $81,000 as of June 30, 2018, primarily as a result of the repayment of debt and defined benefit pension contributions.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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