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Business Segments Business Segments (Tables)

6 Months Ended

Oct. 01, 2023

Segment Reporting [Abstract]

Selected Financial Data for Reportable Business Segments and Product Lines

Summarized financial information related to the Company's reportable segments for the second quarter and six months ended October 1, 2023 and October 2, 2022, is shown below:

						Quarter ended												Six months ended
						October 1, 2023						October 2, 2022						October 1, 2023						October 2, 2022
Net sales by segment to unaffiliated customers (1)
Energy Systems						$	422,466					$	437,024					$	847,014					$	845,603
Motive Power						355,206						337,993						705,987						705,844
Specialty						123,361						124,420						256,601						246,961
Total net sales						$	901,033					$	899,437					$	1,809,602					$	1,798,408
Operating earnings by segment
Energy Systems						$	25,563					$	17,767					$	55,212					$	32,781
Motive Power						53,448						39,881						103,816						82,287
Specialty						5,587						9,591						15,404						18,822
Corporate and other (3)						18,894						—						36,297						—
Inventory adjustment relating to exit activities - Motive Power						—						(1,544)						—						(1,544)
Inventory adjustment relating to exit activities - Specialty						—						—						(3,098)						—
Restructuring and other exit charges - Energy Systems						(2,227)						(777)						(2,715)						(939)
Restructuring and other exit charges - Motive Power						(3,479)						(2,488)						(5,038)						(10,654)
Restructuring and other exit charges - Specialty						(1,528)						—						(5,790)						—
Amortization - Energy Systems						(6,219)						(7,171)						(12,436)						(14,407)
Amortization - Motive						(231)						(110)						(342)						(220)
Amortization - Specialty						(702)						(732)						(1,404)						(1,467)
Other - Energy Systems						(310)						(57)						(1,059)						(161)
Other - Motive						(122)						(91)						(590)						(100)
Other - Specialty						(60)						—						(198)						—
Total operating earnings (2)						$	88,614					$	54,269					$	178,059					$	104,398

(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

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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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