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Segment Information (Tables) | 9 Months Ended
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Jul. 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 nine months ended July 2, 2022 and July 3, 2021 are as follows:
|  | Three Months Ended |  | Nine Months Ended
Market Type |  | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Net sales: |  |  |  |  |  |  |  |
Military |  | $ | 180,891 |  |  | $ | 175,922 |  |  | $ | 558,929 |  |  | $ | 583,140 |
Commercial |  | 137,126 |  |  | 96,209 |  |  | 373,673 |  |  | 280,126 |
Aircraft Controls |  | 318,017 |  |  | 272,131 |  |  | 932,602 |  |  | 863,266 |
Space |  | 88,338 |  |  | 86,031 |  |  | 262,995 |  |  | 251,679 |
Defense |  | 135,306 |  |  | 118,856 |  |  | 391,854 |  |  | 347,538 |
Space and Defense Controls |  | 223,644 |  |  | 204,887 |  |  | 654,849 |  |  | 599,217 |
Energy |  | 31,178 |  |  | 30,950 |  |  | 94,960 |  |  | 87,841 |
Industrial Automation |  | 111,316 |  |  | 112,225 |  |  | 323,870 |  |  | 318,662 |
Simulation and Test |  | 25,458 |  |  | 24,618 |  |  | 77,258 |  |  | 64,518 |
Medical |  | 63,298 |  |  | 62,541 |  |  | 184,245 |  |  | 194,204 |
Industrial Systems |  | 231,250 |  |  | 230,334 |  |  | 680,333 |  |  | 665,225 |
Net sales |  | $ | 772,911 |  |  | $ | 707,352 |  |  | $ | 2,267,784 |  |  | $ | 2,127,708 |
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 nine months ended July 2, 2022 and July 3, 2021 and a reconciliation of segment operating profit to earnings before income taxes are as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Operating profit: |  |  |  |  |  |  |  |
Aircraft Controls |  | $ | 34,453 |  |  | $ | 20,545 |  |  | $ | 88,809 |  |  | $ | 70,485 |
Space and Defense Controls |  | 25,368 |  |  | 21,339 |  |  | 70,742 |  |  | 71,037 |
Industrial Systems |  | 19,484 |  |  | 23,004 |  |  | 57,398 |  |  | 66,715 |
Total operating profit |  | 79,305 |  |  | 64,888 |  |  | 216,949 |  |  | 208,237 |
Deductions from operating profit: |  |  |  |  |  |  |  |
Interest expense |  | 9,131 |  |  | 8,239 |  |  | 25,376 |  |  | 25,288 |
Equity-based compensation expense |  | 2,169 |  |  | 1,791 |  |  | 6,747 |  |  | 6,420 |
Non-service pension expense (income) |  | 1,442 |  |  | 928 |  |  | 4,399 |  |  | (3,053) |
Corporate and other expenses, net |  | 6,754 |  |  | 5,335 |  |  | 20,482 |  |  | 18,488 |
Earnings before income taxes |  | $ | 59,809 |  |  | $ | 48,595 |  |  | $ | 159,945 |  |  | $ | 161,094 |
Sales by Major Customer Type |
|  | Three Months Ended |  | Nine Months Ended
Customer Type |  | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Net sales: |  |  |  |  |  |  |  |
Commercial |  | $ | 137,126 |  |  | $ | 96,209 |  |  | $ | 373,673 |  |  | $ | 280,126 |
U.S. Government (including OEM) |  | 141,793 |  |  | 145,722 |  |  | 423,698 |  |  | 453,878 |
Other |  | 39,098 |  |  | 30,200 |  |  | 135,231 |  |  | 129,262 |
Aircraft Controls |  | 318,017 |  |  | 272,131 |  |  | 932,602 |  |  | 863,266 |
Commercial |  | 32,001 |  |  | 28,947 |  |  | 84,878 |  |  | 97,100 |
U.S. Government (including OEM) |  | 177,643 |  |  | 156,238 |  |  | 527,767 |  |  | 452,365 |
Other |  | 14,000 |  |  | 19,702 |  |  | 42,204 |  |  | 49,752 |
Space and Defense Controls |  | 223,644 |  |  | 204,887 |  |  | 654,849 |  |  | 599,217 |
Commercial |  | 227,445 |  |  | 224,407 |  |  | 669,845 |  |  | 644,412 |
U.S. Government (including OEM) |  | 1,596 |  |  | 4,496 |  |  | 5,535 |  |  | 15,245 |
Other |  | 2,209 |  |  | 1,431 |  |  | 4,953 |  |  | 5,568 |
Industrial Systems |  | 231,250 |  |  | 230,334 |  |  | 680,333 |  |  | 665,225 |
Commercial |  | 396,572 |  |  | 349,563 |  |  | 1,128,396 |  |  | 1,021,638 |
U.S. Government (including OEM) |  | 321,032 |  |  | 306,456 |  |  | 957,000 |  |  | 921,488 |
Other |  | 55,307 |  |  | 51,333 |  |  | 182,388 |  |  | 184,582 |
Net sales |  | $ | 772,911 |  |  | $ | 707,352 |  |  | $ | 2,267,784 |  |  | $ | 2,127,708 |
Revenue Recognition Method |
|  | Three Months Ended |  | Nine Months Ended
Revenue Recognition Method |  | July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
Net sales: |  |  |  |  |  |  |  |
Over-time |  | $ | 243,428 |  |  | $ | 221,460 |  |  | $ | 729,797 |  |  | $ | 693,515 |
Point in time |  | 74,589 |  |  | 50,671 |  |  | 202,805 |  |  | 169,751 |
Aircraft Controls |  | 318,017 |  |  | 272,131 |  |  | 932,602 |  |  | 863,266 |
Over-time |  | 204,196 |  |  | 190,559 |  |  | 603,951 |  |  | 554,304 |
Point in time |  | 19,448 |  |  | 14,328 |  |  | 50,898 |  |  | 44,913 |
Space and Defense Controls |  | 223,644 |  |  | 204,887 |  |  | 654,849 |  |  | 599,217 |
Over-time |  | 36,536 |  |  | 32,800 |  |  | 105,848 |  |  | 89,901 |
Point in time |  | 194,714 |  |  | 197,534 |  |  | 574,485 |  |  | 575,324 |
Industrial Systems |  | 231,250 |  |  | 230,334 |  |  | 680,333 |  |  | 665,225 |
Over-time |  | 484,160 |  |  | 444,819 |  |  | 1,439,596 |  |  | 1,337,720 |
Point in time |  | 288,751 |  |  | 262,533 |  |  | 828,188 |  |  | 789,988 |
Net sales |  | $ | 772,911 |  |  | $ | 707,352 |  |  | $ | 2,267,784 |  |  | $ | 2,127,708 |

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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