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Business Segments | 3 Months Ended
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Jul. 02, 2023
Segment Reporting [Abstract] |
Business Segments | Business Segments Effective April 1, 2023, the Company created a new line of business and operating segment named New Ventures in addition to the existing lines of businesses: Energy Systems, Motive Power, and Specialty. The results of New Ventures include start-up operating expenses captured within the "Corporate and other" category of operating earnings. New Ventures provides energy storage and management systems for demand charge reduction, utility back-up power, and dynamic fast charging for electric vehicles. Summarized financial information related to the Company's reportable segments for the first quarter ended July 2, 2023 and July 3, 2022, is shown below:
|  | Quarter ended |  |
|  | July 2, 2023 |  | July 3, 2022 |  |  |  |
Net sales by segment to unaffiliated customers (1) |  |  |  |  |  |  |  |
Energy Systems |  | $ | 424,548 |  |  | $ | 408,579 |  |  |  |  |
Motive Power |  | 350,781 |  |  | 367,851 |  |  |  |  |
Specialty |  | 133,240 |  |  | 122,541 |  |  |  |  |
Total net sales |  | $ | 908,569 |  |  | $ | 898,971 |  |  |  |  |
Operating earnings by segment |  |  |  |  |  |  |  |
Energy Systems |  | $ | 29,649 |  |  | $ | 15,014 |  |  |  |  |
Motive Power |  | 50,368 |  |  | 42,406 |  |  |  |  |
Specialty |  | 9,817 |  |  | 9,231 |  |  |  |  |
Corporate and other (3) |  | 17,403 |  |  | — |  |  |  |  |
Inventory adjustment relating to exit activities - Specialty |  | (3,098) |  |  | — |  |  |  |  |
Restructuring and other exit charges - Energy Systems |  | (488) |  |  | (162) |  |  |  |  |
Restructuring and other exit charges - Motive Power |  | (1,559) |  |  | (8,166) |  |  |  |  |
Restructuring and other exit charges - Specialty |  | (4,262) |  |  | — |  |  |  |  |
Amortization - Energy Systems |  | (6,217) |  |  | (7,330) |  |  |  |  |
Amortization - Motive |  | (111) |  |  | (110) |  |  |  |  |
Amortization - Specialty |  | (702) |  |  | (735) |  |  |  |  |
Other - Energy Systems |  | (749) |  |  | (10) |  |  |  |  |
Other - Motive |  | (468) |  |  | (9) |  |  |  |  |
Other - Specialty |  | $ | (138) |  |  | $ | — |  |  |  |  |
Total operating earnings (2) |  | $ | 89,445 |  |  | $ | 50,129 |  |  |  |  |
(1) Reportable segments do not record inter-segment revenues and accordingly there are none to report. (2) The Company does not allocate interest expense or other (income) expense, net, to the reportable segments. (3) Corporate and other includes amounts managed on a company-wide basis and not directly allocated to any reportable segments, primarily relating to IRA production tax credits. Also, included are start up costs for exploration of a new lithium plant as well as start-up operating expenses from the New Ventures operating segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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