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v3.22.1

Segment Reporting (Tables) | 3 Months Ended
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Apr. 01, 2022
Segment Reporting [Abstract] |
Segment Reporting | The below table presents financial information for each segment and a reconciliation of EBITDA to Net Income (the most directly comparable GAAP financial measure) for the first quarter of 2022 and 2021:
(Thousands) |  | Three months ended April 1, 2022 |  | Three months ended April 2, 2021
Net sales: |  |  |  |
Performance Materials (1) |  | 149,630 |  |  | 114,143 |
Electronic Materials(1) |  | 270,836 |  |  | 204,644 |
Precision Optics |  | 28,579 |  |  | 35,599 |
Other |  | — |  |  | — |
Net sales |  | $ | 449,045 |  |  | $ | 354,386 |
Segment EBITDA: |  |  |  |
Performance Materials |  | 24,792 |  |  | 16,792 |
Electronic Materials |  | 12,148 |  |  | 10,930 |
Precision Optics |  | 2,191 |  |  | 7,471 |
Other |  | (5,177) |  |  | (5,600) |
Total Segment EBITDA |  | 33,954 |  |  | 29,593 |
Income tax expense |  | 3,021 |  |  | 3,466 |
Interest expense - net |  | 3,735 |  |  | 761 |
Depreciation, depletion and amortization |  | 13,179 |  |  | 8,599 |
Net income |  | 14,019 |  |  | 16,767 |
(1) Excludes inter-segment sales of $5.5 million for the first quarter of 2022 and $2.7 million for the first quarter of 2021 for Electronic Materials and $0.3 million for the first quarter of 2022 for Performance Materials. Inter-segment sales are eliminated in consolidation.
Disaggregation of Revenue | The following table disaggregates revenue for each segment by end market for the first quarter of 2022 and 2021:
(Thousands) |  | Performance Materials |  | Electronic Materials |  | Precision Optics |  | Other |  | Total
First Quarter 2022 |  |  |  |  |  |  |  |  |  |
End Market |  |  |  |  |  |  |  |  |  |
Semiconductor |  | $ | 1,800 |  |  | $ | 214,922 |  |  | $ | 1,327 |  |  | $ | — |  |  | $ | 218,049 |
Industrial |  | 40,819 |  |  | 15,866 |  |  | 8,434 |  |  | — |  |  | 65,119 |
Aerospace and defense |  | 23,684 |  |  | 2,614 |  |  | 5,145 |  |  | — |  |  | 31,443 |
Consumer electronics |  | 13,002 |  |  | 325 |  |  | 5,312 |  |  | — |  |  | 18,639 |
Automotive |  | 22,235 |  |  | 1,657 |  |  | 2,464 |  |  | — |  |  | 26,356 |
Energy |  | 10,099 |  |  | 29,119 |  |  | — |  |  | — |  |  | 39,218 |
Telecom and data center |  | 16,081 |  |  | 45 |  |  | — |  |  | — |  |  | 16,126 |
Other |  | 21,910 |  |  | 6,288 |  |  | 5,897 |  |  | — |  |  | 34,095 |
Total |  | $ | 149,630 |  |  | $ | 270,836 |  |  | $ | 28,579 |  |  | $ | — |  |  | $ | 449,045 |
First Quarter 2021 |  |  |  |  |  |  |  |  |  |
End Market |  |  |  |  |  |  |  |  |  |
Semiconductor |  | $ | 997 |  |  | $ | 155,061 |  |  | $ | 471 |  |  | $ | — |  |  | $ | 156,529 |
Industrial |  | 24,030 |  |  | 12,590 |  |  | 7,375 |  |  | — |  |  | 43,995 |
Aerospace and defense |  | 21,842 |  |  | 1,398 |  |  | 6,576 |  |  | — |  |  | 29,816 |
Consumer electronics |  | 10,044 |  |  | 165 |  |  | 9,460 |  |  | — |  |  | 19,669 |
Automotive |  | 23,507 |  |  | 1,669 |  |  | 2,193 |  |  | — |  |  | 27,369 |
Energy |  | 4,137 |  |  | 27,190 |  |  | — |  |  | — |  |  | 31,327 |
Telecom and data center |  | 11,343 |  |  | 70 |  |  | — |  |  | — |  |  | 11,413 |
Other |  | 18,243 |  |  | 6,501 |  |  | 9,524 |  |  | — |  |  | 34,268 |
Total |  | $ | 114,143 |  |  | $ | 204,644 |  |  | $ | 35,599 |  |  | $ | — |  |  | $ | 354,386 |

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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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