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Segment Information (Tables) | 6 Months Ended
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Apr. 02, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] |
Sales And Operating Profit By Segment And Reconciliation Of Segment Operating Profit To Earnings Before Income Taxes | Disaggregation of net sales by segment for the three and six months ended April 2, 2022 and April 3, 2021 are as follows:
|  | Three Months Ended |  | Six Months Ended
Market Type |  | April 2, 2022 |  | April 3, 2021 |  | April 2, 2022 |  | April 3, 2021
Net sales: |  |  |  |  |  |  |  |
Military |  | $ | 192,089 |  |  | $ | 201,520 |  |  | $ | 378,038 |  |  | $ | 407,218 |
Commercial |  | 119,179 |  |  | 102,841 |  |  | 236,547 |  |  | 183,917 |
Aircraft Controls |  | 311,268 |  |  | 304,361 |  |  | 614,585 |  |  | 591,135 |
Space |  | 87,074 |  |  | 87,837 |  |  | 174,657 |  |  | 165,648 |
Defense |  | 136,275 |  |  | 118,331 |  |  | 256,548 |  |  | 228,682 |
Space and Defense Controls |  | 223,349 |  |  | 206,168 |  |  | 431,205 |  |  | 394,330 |
Energy |  | 32,316 |  |  | 28,247 |  |  | 63,782 |  |  | 56,891 |
Industrial Automation |  | 110,411 |  |  | 111,206 |  |  | 212,554 |  |  | 206,437 |
Simulation and Test |  | 29,625 |  |  | 19,774 |  |  | 51,800 |  |  | 39,900 |
Medical |  | 63,818 |  |  | 66,646 |  |  | 120,947 |  |  | 131,663 |
Industrial Systems |  | 236,170 |  |  | 225,873 |  |  | 449,083 |  |  | 434,891 |
Net sales |  | $ | 770,787 |  |  | $ | 736,402 |  |  | $ | 1,494,873 |  |  | $ | 1,420,356 |
Operating profit is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation expense, non-service pension 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, manpower or profit. Operating profit by segment for the three and six months ended April 2, 2022 and April 3, 2021 and a reconciliation of segment operating profit to earnings before income taxes are as follows:
|  | Three Months Ended |  | Six Months Ended
|  | April 2, 2022 |  | April 3, 2021 |  | April 2, 2022 |  | April 3, 2021
Operating profit: |  |  |  |  |  |  |  |
Aircraft Controls |  | $ | 12,441 |  |  | $ | 22,018 |  |  | $ | 54,356 |  |  | $ | 49,940 |
Space and Defense Controls |  | 24,075 |  |  | 26,652 |  |  | 45,374 |  |  | 49,698 |
Industrial Systems |  | 20,723 |  |  | 23,813 |  |  | 37,914 |  |  | 43,711 |
Total operating profit |  | 57,239 |  |  | 72,483 |  |  | 137,644 |  |  | 143,349 |
Deductions from operating profit: |  |  |  |  |  |  |  |
Interest expense |  | 8,263 |  |  | 8,629 |  |  | 16,245 |  |  | 17,049 |
Equity-based compensation expense |  | 1,920 |  |  | 2,127 |  |  | 4,578 |  |  | 4,629 |
Non-service pension expense (income) |  | 1,472 |  |  | (4,901) |  |  | 2,957 |  |  | (3,981) |
Corporate and other expenses, net |  | 6,871 |  |  | 4,500 |  |  | 13,728 |  |  | 13,153 |
Earnings before income taxes |  | $ | 38,713 |  |  | $ | 62,128 |  |  | $ | 100,136 |  |  | $ | 112,499 |
Sales by Major Customer Type |
|  | Three Months Ended |  | Six Months Ended
Customer Type |  | April 2, 2022 |  | April 3, 2021 |  | April 2, 2022 |  | April 3, 2021
Net sales: |  |  |  |  |  |  |  |
Commercial |  | $ | 119,179 |  |  | $ | 102,841 |  |  | $ | 236,547 |  |  | $ | 183,917 |
U.S. Government (including OEM) |  | 138,026 |  |  | 151,479 |  |  | 281,905 |  |  | 308,156 |
Other |  | 54,063 |  |  | 50,041 |  |  | 96,133 |  |  | 99,062 |
Aircraft Controls |  | 311,268 |  |  | 304,361 |  |  | 614,585 |  |  | 591,135 |
Commercial |  | 28,554 |  |  | 37,019 |  |  | 52,877 |  |  | 68,153 |
U.S. Government (including OEM) |  | 180,109 |  |  | 157,955 |  |  | 350,124 |  |  | 296,127 |
Other |  | 14,686 |  |  | 11,194 |  |  | 28,204 |  |  | 30,050 |
Space and Defense Controls |  | 223,349 |  |  | 206,168 |  |  | 431,205 |  |  | 394,330 |
Commercial |  | 235,165 |  |  | 218,052 |  |  | 442,400 |  |  | 420,005 |
U.S. Government (including OEM) |  | 153 |  |  | 4,428 |  |  | 3,939 |  |  | 10,749 |
Other |  | 852 |  |  | 3,393 |  |  | 2,744 |  |  | 4,137 |
Industrial Systems |  | 236,170 |  |  | 225,873 |  |  | 449,083 |  |  | 434,891 |
Commercial |  | 382,898 |  |  | 357,912 |  |  | 731,824 |  |  | 672,075 |
U.S. Government (including OEM) |  | 318,288 |  |  | 313,862 |  |  | 635,968 |  |  | 615,032 |
Other |  | 69,601 |  |  | 64,628 |  |  | 127,081 |  |  | 133,249 |
Net sales |  | $ | 770,787 |  |  | $ | 736,402 |  |  | $ | 1,494,873 |  |  | $ | 1,420,356 |
Revenue Recognition Method |
|  | Three Months Ended |  | Six Months Ended
Revenue Recognition Method |  | April 2, 2022 |  | April 3, 2021 |  | April 2, 2022 |  | April 3, 2021
Net sales: |  |  |  |  |  |  |  |
Over-time |  | $ | 239,720 |  |  | $ | 241,935 |  |  | $ | 486,369 |  |  | $ | 472,055 |
Point in time |  | 71,548 |  |  | 62,426 |  |  | 128,216 |  |  | 119,080 |
Aircraft Controls |  | 311,268 |  |  | 304,361 |  |  | 614,585 |  |  | 591,135 |
Over-time |  | 207,309 |  |  | 189,434 |  |  | 399,755 |  |  | 363,745 |
Point in time |  | 16,040 |  |  | 16,734 |  |  | 31,450 |  |  | 30,585 |
Space and Defense Controls |  | 223,349 |  |  | 206,168 |  |  | 431,205 |  |  | 394,330 |
Over-time |  | 40,287 |  |  | 29,367 |  |  | 69,312 |  |  | 57,101 |
Point in time |  | 195,883 |  |  | 196,506 |  |  | 379,771 |  |  | 377,790 |
Industrial Systems |  | 236,170 |  |  | 225,873 |  |  | 449,083 |  |  | 434,891 |
Over-time |  | 487,316 |  |  | 460,736 |  |  | 955,436 |  |  | 892,901 |
Point in time |  | 283,471 |  |  | 275,666 |  |  | 539,437 |  |  | 527,455 |
Net sales |  | $ | 770,787 |  |  | $ | 736,402 |  |  | $ | 1,494,873 |  |  | $ | 1,420,356 |

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