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v3.25.3

Segments (Tables) | 12 Months Ended
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Sep. 27, 2025
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 |  | 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |
Space |  | $ | 474,517 |  |  | $ | 434,936 |  |  | $ | 407,009 |
Defense |  | 638,511 |  |  | 583,212 |  |  | 540,242 |
Space and Defense |  | 1,113,028 |  |  | 1,018,148 |  |  | 947,251 |
Original Equipment Manufacturers |  | 687,261 |  |  | 624,575 |  |  | 536,562 |
Aftermarket |  | 200,875 |  |  | 186,991 |  |  | 183,770 |
Military Aircraft |  | 888,136 |  |  | 811,566 |  |  | 720,332 |
Original Equipment Manufacturers |  | 572,971 |  |  | 524,699 |  |  | 431,521 |
Aftermarket |  | 330,908 |  |  | 263,401 |  |  | 234,362 |
Commercial Aircraft |  | 903,879 |  |  | 788,100 |  |  | 665,883 |
Energy |  | 141,679 |  |  | 137,854 |  |  | 123,864 |
Industrial Automation |  | 401,697 |  |  | 443,580 |  |  | 485,502 |
Simulation and Test |  | 141,551 |  |  | 155,889 |  |  | 124,980 |
Medical |  | 270,654 |  |  | 253,823 |  |  | 248,378 |
Industrial |  | 955,581 |  |  | 991,146 |  |  | 982,724 |
Net sales |  | $ | 3,860,624 |  |  | $ | 3,608,960 |  |  | $ | 3,316,190 |
We report results to our CODM under our four segments identified as Space and Defense, Military Aircraft, Commercial Aircraft and Industrial. Disaggregation of operating results by segment and reconciliations to consolidated amounts are as follows:
|  | Fiscal Year Ended
(dollars in thousands) |  | September 27, 2025 |  | September 28, 2024 |  | September 30, 2023
Net sales: |  |  |  |  |  |
Space and Defense |  | $ | 1,113,028 |  |  | $ | 1,018,148 |  |  | $ | 947,251 |
Military Aircraft |  | 888,136 |  |  | 811,566 |  |  | 720,332 |
Commercial Aircraft |  | 903,879 |  |  | 788,100 |  |  | 665,883 |
Industrial |  | 955,581 |  |  | 991,146 |  |  | 982,724 |
Total net sales |  | $ | 3,860,624 |  |  | $ | 3,608,960 |  |  | $ | 3,316,190 |
Cost of sales: |  |  |  |  |  |
Space and Defense |  | $ | 800,982 |  |  | $ | 734,844 |  |  | $ | 718,545 |
Military Aircraft |  | 656,054 |  |  | 604,285 |  |  | 552,268 |
Commercial Aircraft |  | 720,296 |  |  | 617,858 |  |  | 505,884 |
Industrial |  | 617,470 |  |  | 632,538 |  |  | 637,393 |
Total cost of sales |  | $ | 2,794,802 |  |  | $ | 2,589,525 |  |  | $ | 2,414,090 |
Inventory write-down: |  |  |  |  |  |
Space and Defense |  | $ | 939 |  |  | $ | 1,918 |  |  | $ | — |
Military Aircraft |  | 1,625 |  |  | 175 |  |  | 1,616 |
Commercial Aircraft |  | — |  |  | — |  |  | — |
Industrial |  | 5,910 |  |  | 4,934 |  |  | 2,729 |
Total inventory write-down |  | $ | 8,474 |  |  | $ | 7,027 |  |  | $ | 4,345 |
Research and development: |  |  |  |  |  |
Space and Defense |  | $ | 25,511 |  |  | $ | 26,084 |  |  | $ | 16,736 |
Military Aircraft |  | 24,549 |  |  | 23,475 |  |  | 33,941 |
Commercial Aircraft |  | 7,798 |  |  | 11,930 |  |  | 9,485 |
Industrial |  | 35,813 |  |  | 51,284 |  |  | 46,389 |
Total research and development |  | $ | 93,671 |  |  | $ | 112,773 |  |  | $ | 106,551 |
Selling, general and administrative: |  |  |  |  |  |
Space and Defense |  | $ | 152,820 |  |  | $ | 122,568 |  |  | $ | 112,426 |
Military Aircraft |  | 108,902 |  |  | 89,779 |  |  | 70,882 |
Commercial Aircraft |  | 65,605 |  |  | 59,170 |  |  | 65,700 |
Industrial |  | 176,363 |  |  | 182,005 |  |  | 189,511 |
Selling, general and administrative for reportable segments |  | $ | 503,690 |  |  | $ | 453,522 |  |  | $ | 438,519 |
Corporate expenses |  | 33,570 |  |  | 32,772 |  |  | 25,836 |
Equity based compensation expense |  | 16,708 |  |  | 14,959 |  |  | 10,582 |
Total selling, general and administrative |  | $ | 553,968 |  |  | $ | 501,253 |  |  | $ | 474,937 |
Other operating (income) expenses: |  |  |  |  |  |
Space and Defense |  | $ | 1,639 |  |  | $ | 5,849 |  |  | $ | 3,437 |
Military Aircraft |  | (1,751) |  |  | 8,349 |  |  | 1,000 |
Commercial Aircraft |  | (1,613) |  |  | 265 |  |  | (1,223) |
Industrial |  | 12,106 |  |  | 27,185 |  |  | 5,433 |
Total other operating expenses |  | $ | 10,381 |  |  | $ | 41,648 |  |  | $ | 8,647 |
|  | 2025 |  | 2024 |  | 2023
Operating profit: |  |  |  |  |  |
Space and Defense |  | $ | 131,137 |  |  | $ | 126,885 |  |  | $ | 96,107 |
Military Aircraft |  | 98,757 |  |  | 85,503 |  |  | 60,625 |
Commercial Aircraft |  | 111,793 |  |  | 98,877 |  |  | 86,037 |
Industrial |  | 107,919 |  |  | 93,200 |  |  | 101,269 |
Total operating profit |  | 449,606 |  |  | 404,465 |  |  | 344,038 |
Deductions from operating profit: |  |  |  |  |  |
Interest expense |  | 72,075 |  |  | 66,330 |  |  | 59,838 |
Equity-based compensation expense |  | 16,708 |  |  | 14,959 |  |  | 10,582 |
Pension settlement |  | — |  |  | — |  |  | 12,542 |
Non-service pension expense |  | 7,719 |  |  | 12,685 |  |  | 12,324 |
Corporate and other expenses, net |  | 40,456 |  |  | 40,745 |  |  | 27,232 |
Earnings before income taxes |  | $ | 312,648 |  |  | $ | 269,746 |  |  | $ | 221,520 |
Depreciation and amortization: |  |  |  |  |  |
Space and Defense |  | $ | 24,937 |  |  | $ | 21,895 |  |  | $ | 20,067 |
Military Aircraft |  | 34,424 |  |  | 31,327 |  |  | 30,449 |
Commercial Aircraft |  | 18,780 |  |  | 16,116 |  |  | 12,678 |
Industrial |  | 25,420 |  |  | 26,482 |  |  | 25,897 |
Corporate |  | 167 |  |  | 207 |  |  | 213 |
Total depreciation and amortization |  | $ | 103,728 |  |  | $ | 96,027 |  |  | $ | 89,304 |
Identifiable assets: |  |  |  |  |  |
Space and Defense |  | $ | 1,213,618 |  |  | $ | 1,035,716 |  |  | $ | 1,011,724 |
Military Aircraft |  | 1,041,046 |  |  | 961,056 |  |  | 866,590 |
Commercial Aircraft |  | 1,052,419 |  |  | 953,053 |  |  | 779,949 |
Industrial |  | 1,102,533 |  |  | 1,098,953 |  |  | 1,086,818 |
Corporate |  | 16,439 |  |  | 28,869 |  |  | 23,266 |
Total assets |  | $ | 4,426,055 |  |  | $ | 4,077,647 |  |  | $ | 3,768,347 |
Capital expenditures: |  |  |  |  |  |
Space and Defense |  | $ | 59,162 |  |  | $ | 47,170 |  |  | $ | 66,613 |
Military Aircraft |  | 37,422 |  |  | 52,741 |  |  | 47,699 |
Commercial Aircraft |  | 23,283 |  |  | 28,750 |  |  | 31,887 |
Industrial |  | 24,787 |  |  | 23,290 |  |  | 30,949 |
Corporate |  | 77 |  |  | 44 |  |  | 161 |
Total capital expenditures |  | $ | 144,731 |  |  | $ | 151,995 |  |  | $ | 177,309 |
Sales by Major Customer Type |
Customer Type |  | 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |
Commercial |  | $ | 187,528 |  |  | $ | 172,829 |  |  | $ | 112,777 |
U.S. Government (including OEM) |  | 798,956 |  |  | 754,057 |  |  | 778,229 |
Other |  | 126,544 |  |  | 91,262 |  |  | 56,245 |
Space and Defense |  | 1,113,028 |  |  | 1,018,148 |  |  | 947,251 |
U.S. Government (including OEM) |  | 657,813 |  |  | 582,688 |  |  | 505,794 |
Other |  | 230,323 |  |  | 228,878 |  |  | 214,538 |
Military Aircraft |  | 888,136 |  |  | 811,566 |  |  | 720,332 |
Commercial |  | 853,045 |  |  | 751,110 |  |  | 632,878 |
Other |  | 50,834 |  |  | 36,990 |  |  | 33,005 |
Commercial Aircraft |  | 903,879 |  |  | 788,100 |  |  | 665,883 |
Commercial |  | 933,664 |  |  | 971,868 |  |  | 965,867 |
U.S. Government (including OEM) |  | 4,648 |  |  | 10,438 |  |  | 5,204 |
Other |  | 17,269 |  |  | 8,840 |  |  | 11,653 |
Industrial |  | 955,581 |  |  | 991,146 |  |  | 982,724 |
Commercial |  | 1,974,237 |  |  | 1,895,807 |  |  | 1,711,522 |
U.S. Government (including OEM) |  | 1,461,417 |  |  | 1,347,183 |  |  | 1,289,227 |
Other |  | 424,970 |  |  | 365,970 |  |  | 315,441 |
Net sales |  | $ | 3,860,624 |  |  | $ | 3,608,960 |  |  | $ | 3,316,190 |
Revenue Recognition Method |
Revenue Recognition Method |  | 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |
Over-time |  | $ | 997,351 |  |  | $ | 909,638 |  |  | $ | 883,727 |
Point in time |  | 115,677 |  |  | 108,510 |  |  | 63,524 |
Space and Defense |  | 1,113,028 |  |  | 1,018,148 |  |  | 947,251 |
Over-time |  | 732,837 |  |  | 656,576 |  |  | 602,333 |
Point in time |  | 155,299 |  |  | 154,990 |  |  | 117,999 |
Military Aircraft |  | 888,136 |  |  | 811,566 |  |  | 720,332 |
Over-time |  | 636,760 |  |  | 587,233 |  |  | 497,221 |
Point in time |  | 267,119 |  |  | 200,867 |  |  | 168,662 |
Commercial Aircraft |  | 903,879 |  |  | 788,100 |  |  | 665,883 |
Over-time |  | 114,699 |  |  | 142,425 |  |  | 137,338 |
Point in time |  | 840,882 |  |  | 848,721 |  |  | 845,386 |
Industrial |  | 955,581 |  |  | 991,146 |  |  | 982,724 |
Over-time |  | 2,481,647 |  |  | 2,295,872 |  |  | 2,120,619 |
Point in time |  | 1,378,977 |  |  | 1,313,088 |  |  | 1,195,571 |
Net sales |  | $ | 3,860,624 |  |  | $ | 3,608,960 |  |  | $ | 3,316,190 |
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:
|  | 2025 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |
United States |  | $ | 2,432,811 |  |  | $ | 2,319,352 |  |  | $ | 2,153,121 |
Germany |  | 247,354 |  |  | 164,794 |  |  | 203,661 |
Other |  | 1,180,459 |  |  | 1,124,814 |  |  | 959,408 |
Net sales |  | $ | 3,860,624 |  |  | $ | 3,608,960 |  |  | $ | 3,316,190 |
Property, plant and equipment, net: |  |  |  |  |  |
United States |  | $ | 704,707 |  |  | $ | 636,828 |  |  | $ | 546,335 |
United Kingdom |  | 138,168 |  |  | 128,363 |  |  | 126,059 |
Other |  | 177,031 |  |  | 163,397 |  |  | 153,866 |
Property, plant and equipment, net |  | $ | 1,019,906 |  |  | $ | 928,588 |  |  | $ | 826,260 |

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