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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 28, 2025
Segment Reporting [Abstract] |
Schedule of financial information by reportable segment | The following tables set forth our segment information of revenue, significant segment expenses, and operating income from operations for the periods ended June 28, 2025 and June 29, 2024:
|  | Three Months Ended Jun 28, 2025 |
|  | Hydraulics |  |  | Electronics |  |  | Unallocated expenses |  |  | Total |
Net sales from external customers |  | $ | 140.9 |  |  | $ | 71.6 |  |  | $ | - |  |  | $ | 212.5 |
Reportable segment total cost of sales |  |  | 94.4 |  |  |  | 50.6 |  |  |  | - |  |  |  | 145.0 |
Reportable segment gross profit |  | $ | 46.5 |  |  | $ | 21.0 |  |  | $ | - |  |  | $ | 67.5 |
Selling, engineering and administrative expenses (a) |  | $ | 15.9 |  |  | $ | 10.8 |  |  | $ | - |  |  | $ | 26.7 |
Research and development (b) |  |  | 2.3 |  |  |  | 2.6 |  |  |  | - |  |  |  | 4.9 |
Indirect expenses (c) |  |  | 3.3 |  |  |  | 1.7 |  |  |  | 0.7 |  |  |  | 5.7 |
Amortization of intangible assets (d) |  |  | - |  |  |  | - |  |  |  | 8.3 |  |  |  | 8.3 |
Operating income |  | $ | 25.0 |  |  | $ | 5.9 |  |  | $ | (9.0 | ) |  | $ | 21.9 |
(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments. (b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use. (c) Indirect expenses represent corporate costs and shared expenses allocated to businesses. (d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.
|  | Three Months Ended June 29, 2024 |
|  | Hydraulics |  |  | Electronics |  |  | Unallocated expenses |  |  | Total |
Net sales from external customers |  | $ | 145.7 |  |  | $ | 74.2 |  |  | $ | - |  |  | $ | 219.9 |
Reportable segment total cost of sales |  |  | 100.8 |  |  |  | 48.5 |  |  |  | - |  |  |  | 149.3 |
Reportable segment gross profit |  | $ | 44.9 |  |  | $ | 25.7 |  |  | $ | - |  |  | $ | 70.6 |
Selling, engineering and administrative expenses (a) |  | $ | 14.9 |  |  | $ | 10.5 |  |  | $ | - |  |  | $ | 25.4 |
Research and development (b) |  |  | 2.1 |  |  |  | 3.0 |  |  |  | - |  |  |  | 5.1 |
Indirect expenses (c) |  |  | 4.0 |  |  |  | 1.9 |  |  |  | 0.3 |  |  |  | 6.2 |
Amortization of intangible assets (d) |  |  | - |  |  |  | - |  |  |  | 7.9 |  |  |  | 7.9 |
Operating income |  | $ | 23.9 |  |  | $ | 10.3 |  |  | $ | (8.2 | ) |  | $ | 26.0 |
(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments. (b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use. (c) Indirect expenses represent corporate costs and shared expenses allocated to businesses. (d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.
|  | Six Months Ended Jun 28, 2025 |
|  | Hydraulics |  |  | Electronics |  |  | Unallocated expenses |  |  | Total |
Net sales from external customers |  | $ | 267.3 |  |  | $ | 140.7 |  |  | $ | - |  |  | $ | 408.0 |
Reportable segment total cost of sales |  |  | 183.4 |  |  |  | 97.2 |  |  |  | - |  |  |  | 280.6 |
Reportable segment gross profit |  | $ | 83.9 |  |  | $ | 43.5 |  |  | $ | - |  |  | $ | 127.4 |
Selling, engineering and administrative expenses (a) |  | $ | 30.7 |  |  | $ | 20.9 |  |  | $ | - |  |  | $ | 51.6 |
Research and development (b) |  |  | 4.4 |  |  |  | 5.4 |  |  |  | - |  |  |  | 9.8 |
Indirect expenses (c) |  |  | 6.3 |  |  |  | 3.3 |  |  |  | 0.9 |  |  |  | 10.5 |
Amortization of intangible assets (d) |  |  | - |  |  |  | - |  |  |  | 16.5 |  |  |  | 16.5 |
Operating income |  | $ | 42.5 |  |  | $ | 13.9 |  |  | $ | (17.4 | ) |  | $ | 39.0 |
(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments. (b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use. (c) Indirect expenses represent corporate costs and shared expenses allocated to businesses. (d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.
|  | Six Months Ended June 29, 2024 |
|  | Hydraulics |  |  | Electronics |  |  | Unallocated expenses |  |  | Total |
Net sales from external customers |  | $ | 288.1 |  |  | $ | 143.8 |  |  | $ | - |  |  | $ | 431.9 |
Reportable segment total cost of sales |  |  | 198.6 |  |  |  | 95.5 |  |  |  | - |  |  |  | 294.1 |
Reportable segment gross profit |  | $ | 89.5 |  |  | $ | 48.3 |  |  | $ | - |  |  | $ | 137.8 |
Selling, engineering and administrative expenses (a) |  | $ | 30.2 |  |  | $ | 20.5 |  |  | $ | - |  |  | $ | 50.7 |
Research and development (b) |  |  | 4.2 |  |  |  | 6.1 |  |  |  | - |  |  |  | 10.3 |
Indirect expenses (c) |  |  | 9.4 |  |  |  | 4.3 |  |  |  | 1.0 |  |  |  | 14.7 |
Amortization of intangible assets (d) |  |  | - |  |  |  | - |  |  |  | 15.7 |  |  |  | 15.7 |
Operating income |  | $ | 45.7 |  |  | $ | 17.4 |  |  | $ | (16.7 | ) |  | $ | 46.4 |
(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments. (b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use. (c) Indirect expenses represent corporate costs and shared expenses allocated to businesses. (d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |
Hydraulics |  | $ | 4.9 |  |  | $ | 6.5 |  |  | $ | 9.4 |  |  | $ | 9.8 |
Electronics |  |  | 0.5 |  |  |  | 1.5 |  |  |  | 2.1 |  |  |  | 3.8 |
Total |  | $ | 5.4 |  |  | $ | 8.0 |  |  | $ | 11.5 |  |  | $ | 13.6 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
Hydraulics |  | $ | 5.3 |  |  | $ | 5.8 |  |  | $ | 10.7 |  |  | $ | 11.4 |
Electronics |  |  | 2.3 |  |  |  | 2.3 |  |  |  | 4.6 |  |  |  | 4.4 |
Corporate and Other |  |  | 8.3 |  |  |  | 8.0 |  |  |  | 16.6 |  |  |  | 15.9 |
Total |  | $ | 15.9 |  |  | $ | 16.1 |  |  | $ | 31.9 |  |  | $ | 31.7 |
|  | June 28, 2025 |  |  | December 28, 2024 |
Goodwill |  |  |  |  |  |
Hydraulics |  | $ | 312.0 |  |  | $ | 287.1 |
Electronics |  |  | 211.9 |  |  |  | 211.8 |
Total |  | $ | 523.9 |  |  | $ | 498.9 |
Total assets |  |  |  |  |  |
Hydraulics |  | $ | 1,001.0 |  |  | $ | 926.6 |
Electronics |  |  | 574.5 |  |  |  | 572.4 |
Corporate and Other |  |  | 6.2 |  |  |  | 6.4 |
Total |  | $ | 1,581.7 |  |  | $ | 1,505.4 |
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 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 107.9 |  |  | $ | 117.3 |  |  | $ | 214.5 |  |  | $ | 231.2 |
EMEA |  |  | 54.6 |  |  |  | 51.8 |  |  |  | 98.7 |  |  |  | 103.8 |
APAC |  |  | 50.0 |  |  |  | 50.8 |  |  |  | 94.8 |  |  |  | 96.9 |
Total |  | $ | 212.5 |  |  | $ | 219.9 |  |  | $ | 408.0 |  |  | $ | 431.9 |
|  | June 28, 2025 |  |  | December 28, 2024 |
Tangible long-lived assets |  |  |  |  |  |
Americas |  | $ | 128.7 |  |  | $ | 139.1 |
EMEA |  |  | 42.5 |  |  |  | 36.5 |
APAC |  |  | 19.4 |  |  |  | 17.9 |
Total |  | $ | 190.6 |  |  | $ | 193.5 |

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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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