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Segments (Tables)

12 Months Ended

Sep. 30, 2023

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Information And Reconciliations To Consolidated Amounts

Disaggregation of net sales by segment are as follows:

Market Type						2023						2022						2021
Net sales:
Military						$	700,080					$	745,376					$	781,921
Commercial						689,067						511,085						379,317
Aircraft Controls						1,389,147						1,256,461						1,161,238
Space						407,153						337,773						332,946
Defense						540,098						534,570						466,289
Space and Defense Controls						947,251						872,343						799,235
Energy						123,864						125,574						120,173
Industrial Automation						485,502						435,074						427,076
Simulation and Test						124,980						99,815						89,459
Medical						248,378						246,516						254,812
Industrial Systems						982,724						906,979						891,520
Net sales						$	3,319,122					$	3,035,783					$	2,851,993

Customer Type						2023						2022						2021
Net sales:
Commercial						$	689,067					$	511,085					$	379,317
U.S. Government (including OEM)						518,033						566,855						617,034
Other						182,047						178,521						164,887
Aircraft Controls						1,389,147						1,256,461						1,161,238
Commercial						112,777						111,569						126,751
U.S. Government (including OEM)						778,229						704,675						614,984
Other						56,245						56,099						57,500
Space and Defense Controls						947,251						872,343						799,235
Commercial						965,867						891,238						865,269
U.S. Government (including OEM)						5,204						7,565						18,510
Other						11,653						8,176						7,741
Industrial Systems						982,724						906,979						891,520
Commercial						1,767,711						1,513,892						1,371,337
U.S. Government (including OEM)						1,301,466						1,279,095						1,250,528
Other						249,945						242,796						230,128
Net sales						$	3,319,122					$	3,035,783					$	2,851,993

Revenue Recognition Method						2023						2022						2021
Net sales:
Over-time						$	1,098,608					$	1,003,432					$	939,251
Point in time						290,539						253,029						221,987
Aircraft Controls						1,389,147						1,256,461						1,161,238
Over-time						883,727						806,994						746,613
Point in time						63,524						65,349						52,622
Space and Defense Controls						947,251						872,343						799,235
Over-time						137,338						121,405						122,066
Point in time						845,386						785,574						769,454
Industrial Systems						982,724						906,979						891,520
Over-time						2,119,673						1,931,831						1,807,930
Point in time						1,199,449						1,103,952						1,044,063
Net sales						$	3,319,122					$	3,035,783					$	2,851,993

Sales to Boeing were $349,961, $339,119 and $345,907, or 11%, 11% and 12% of sales, in 2023, 2022 and 2021, respectively, including sales to Boeing Commercial Airplanes of $166,748, $139,615 and $118,549 in 2023, 2022 and 2021, respectively. Sales to Lockheed Martin were $294,017, $260,902 and $330,778, or 9%, 9% and 12% in 2023, 2022 and 2021, respectively. Sales arising from U.S. Government prime or sub-contracts, including military sales to Boeing and Lockheed Martin are made primarily from our Aircraft Controls and Space and Defense Controls segments and are included in the Customer Type table above.

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 and reconciliations to consolidated amounts are as follows:

						2023						2022						2021
Operating profit:
Aircraft Controls						$	144,803					$	123,620					$	96,678
Space and Defense Controls						95,949						86,844						88,333
Industrial Systems						102,165						72,384						85,948
Total operating profit						342,917						282,848						270,959
Deductions from operating profit:
Interest expense						63,578						36,757						33,892
Equity-based compensation expense						10,582						8,882						7,461
Pension settlement						12,542						—						—
Non-service pension expense						12,324						6,072						(2,194)
Corporate and other expenses, net						27,839						28,158						28,026
Earnings before income taxes						$	216,052					$	202,979					$	203,774
Depreciation and amortization:
Aircraft Controls						$	43,636					$	42,337					$	41,580
Space and Defense Controls						20,227						19,399						18,655
Industrial Systems						26,157						26,515						29,731
Corporate						213						138						193
Total depreciation and amortization						$	90,233					$	88,389					$	90,159
Identifiable assets:
Aircraft Controls						$	1,683,401					$	1,469,968					$	1,471,338
Space and Defense Controls						1,012,616						873,341						839,783
Industrial Systems						1,088,753						1,046,754						1,078,025
Corporate						23,266						41,778						44,023
Total assets						$	3,808,036					$	3,431,841					$	3,433,169
Capital expenditures:
Aircraft Controls						$	77,046					$	70,526					$	63,514
Space and Defense Controls						65,130						44,255						39,863
Industrial Systems						30,949						24,620						25,338
Corporate						161						30						19
Total capital expenditures						$	173,286					$	139,431					$	128,734

Sales, Based On The Customer's Location, And Property, Plant And Equipment By Geographic Area

Sales, based on the customer’s location, and property, plant and equipment by geographic area are as follows:

						2023						2022						2021
Net sales:
United States						$	2,152,967					$	2,041,952					$	1,935,626
Germany						203,666						164,388						148,739
Other						962,489						829,443						767,628
Net sales						$	3,319,122					$	3,035,783					$	2,851,993
Property, plant and equipment, net:
United States						$	537,908					$	466,427					$	438,851
United Kingdom						125,471						61,950						62,662
Philippines						33,559						32,905						35,851
Other						117,758						107,626						108,414
Property, plant and equipment, net						$	814,696					$	668,908					$	645,778

X

- Definition

Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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X

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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