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Segment Reporting (Tables) | 6 Months Ended
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Jun. 29, 2024
Segment Reporting [Abstract] |
Schedule of financial information by reportable segment | The following table presents financial information by reportable segment:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 29, 2024 |  |  | July 1, 2023 |  |  | June 29, 2024 |  |  | July 1, 2023 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Hydraulics |  | $ | 145.7 |  |  | $ | 152.4 |  |  | $ | 288.1 |  |  | $ | 300.1 |
Electronics |  |  | 74.2 |  |  |  | 75.2 |  |  |  | 143.8 |  |  |  | 140.7 |
Total |  | $ | 219.9 |  |  | $ | 227.6 |  |  | $ | 431.9 |  |  | $ | 440.8 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |
Hydraulics |  | $ | 23.9 |  |  | $ | 27.0 |  |  | $ | 45.7 |  |  | $ | 55.0 |
Electronics |  |  | 10.3 |  |  |  | 12.0 |  |  |  | 17.4 |  |  |  | 19.5 |
Corporate and other |  |  | (8.2 | ) |  |  | (9.5 | ) |  |  | (16.7 | ) |  |  | (20.2 | )
Total |  | $ | 26.0 |  |  | $ | 29.5 |  |  | $ | 46.4 |  |  | $ | 54.3 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |
Hydraulics |  | $ | 6.5 |  |  | $ | 8.0 |  |  | $ | 9.8 |  |  | $ | 14.9 |
Electronics |  |  | 1.5 |  |  |  | 2.5 |  |  |  | 3.8 |  |  |  | 4.7 |
Total |  | $ | 8.0 |  |  | $ | 10.5 |  |  | $ | 13.6 |  |  | $ | 19.6 |
|  | June 29, 2024 |  |  | December 30, 2023 |
Total assets |  |  |  |  |  |
Hydraulics |  | $ | 969.4 |  |  | $ | 976.6 |
Electronics |  |  | 600.7 |  |  |  | 600.0 |
Corporate |  |  | 10.8 |  |  |  | 13.8 |
Total |  | $ | 1,580.9 |  |  | $ | 1,590.4 |
Schedule of geographic region information | Tangible long-lived assets are shown based on the physical location of the assets and primarily include net property, plant and equipment and exclude right-of-use assets. The following table presents financial information by region:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 29, 2024 |  |  | July 1, 2023 |  |  | June 29, 2024 |  |  | July 1, 2023 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 117.3 |  |  | $ | 123.8 |  |  | $ | 231.2 |  |  | $ | 236.8 |
EMEA |  |  | 51.8 |  |  |  | 58.3 |  |  |  | 103.8 |  |  |  | 114.4 |
APAC |  |  | 50.8 |  |  |  | 45.5 |  |  |  | 96.9 |  |  |  | 89.6 |
Total |  | $ | 219.9 |  |  | $ | 227.6 |  |  | $ | 431.9 |  |  | $ | 440.8 |
|  | June 29, 2024 |  |  | December 30, 2023 |
Tangible long-lived assets |  |  |  |  |  |
Americas |  | $ | 142.2 |  |  | $ | 145.6 |
EMEA |  |  | 38.8 |  |  |  | 37.1 |
APAC |  |  | 18.2 |  |  |  | 19.4 |
Total |  | $ | 199.2 |  |  | $ | 202.1 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + 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 -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 2: 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 3: 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 + Details
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