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Reportable Segments (Tables) | 3 Months Ended
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Apr. 03, 2022
Segment Reporting [Abstract] |
Operating Segment Information | Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing. Inter-company revenues between our segments is not material.
|  | Enterprise Solutions |  | Industrial Automation Solutions |  | Total Segments
|  | (In thousands)
As of and for the three months ended April 3, 2022 |  |  |  |  |  |
Segment Revenues |  | $ | 268,430 |  |  | $ | 341,941 |  |  | $ | 610,371 |
Segment EBITDA |  | 30,821 |  |  | 67,528 |  |  | 98,349 |
Depreciation expense |  | 5,426 |  |  | 5,800 |  |  | 11,226 |
Amortization of intangibles |  | 4,097 |  |  | 4,720 |  |  | 8,817 |
Amortization of software development intangible assets |  | 22 |  |  | 985 |  |  | 1,007 |
Severance, restructuring, and acquisition integration costs |  | 328 |  |  | 3,395 |  |  | 3,723 |
Segment assets |  | 574,494 |  |  | 628,290 |  |  | 1,202,784 |
As of and for the three months ended April 4, 2021 |  |  |  |  |  |
Segment Revenues |  | $ | 226,355 |  |  | $ | 282,328 |  |  | $ | 508,683 |
Segment EBITDA |  | 28,291 |  |  | 47,611 |  |  | 75,902 |
Depreciation expense |  | 5,363 |  |  | 5,364 |  |  | 10,727 |
Amortization of intangibles |  | 4,336 |  |  | 3,657 |  |  | 7,993 |
Amortization of software development intangible assets |  | 32 |  |  | 377 |  |  | 409 |
Severance, restructuring, and acquisition integration costs |  | 1,952 |  |  | 3,219 |  |  | 5,171 |
Adjustments related to acquisitions and divestitures |  | (6,307) |  |  | (67) |  |  | (6,374) |
Asset impairments |  | — |  |  | 6,995 |  |  | 6,995 |
Segment assets |  | 476,217 |  |  | 560,351 |  |  | 1,036,568 |
Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes | The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.
| Three Months Ended |  |  |  |
| April 3, 2022 |  | April 4, 2021 |  |  |  |  |  |  |  |
| (In thousands)
Total Segment and Consolidated Revenues | $ | 610,371 |  |  | $ | 508,683 |  |  |  |  |  |  |  |  |
Total Segment EBITDA | $ | 98,349 |  |  | $ | 75,902 |  |  |  |  |  |  |  |  |
Depreciation expense | (11,226) |  |  | (10,727) |  |  |  |  |  |  |  |  |
Amortization of intangibles | (8,817) |  |  | (7,993) |  |  |  |  |  |  |  |  |
Amortization of software development intangible assets | (1,007) |  |  | (409) |  |  |  |  |  |  |  |  |
Severance, restructuring, and acquisition integration costs (1) | (3,723) |  |  | (5,171) |  |  |  |  |  |  |  |  |
Asset impairments (2) | — |  |  | (6,995) |  |  |  |  |  |  |  |  |
Adjustments related to acquisitions and divestitures (3) | — |  |  | 6,374 |  |  |  |  |  |  |  |  |
Eliminations | (55) |  |  | (33) |  |  |  |  |  |  |  |  |
Consolidated operating income | 73,521 |  |  | 50,948 |  |  |  |  |  |  |  |  |
Interest expense, net | (14,411) |  |  | (15,511) |  |  |  |  |  |  |  |  |
Loss on debt extinguishment | (6,392) |  |  | — |  |  |  |  |  |  |  |  |
Total non-operating pension benefit | 1,200 |  |  | 684 |  |  |  |  |  |  |  |  |
Consolidated income from continuing operations before taxes | $ | 53,918 |  |  | $ | 36,121 |  |  |  |  |  |  |  |  |
(1) Severance, restructuring, and acquisition integration costs for the three months ended April 3, 2022 primarily relate to our Acquisition Integration Program. See Note 12. Costs for the three months ended April 4, 2021 primarily relate to our Acquisition Integration Program and completed Cost Reduction Program. (2) During the three months ended April 4, 2021, we recognized a $3.6 million impairment on assets held and used and a $3.4 million impairment on assets held for sale. See Note 11.(3) During the three months ended April 4, 2021, we reduced the Opterna earn-out liability by $5.8 million, collected $1.4 million of receivables associated with the sale of Grass Valley that were previously written off, and recognized cost of sales of $0.8 million related to purchase accounting adjustments of acquired inventory to fair value for the OTN Systems acquisition.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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