v3.20.2

Segment Information (Tables)

9 Months Ended

Oct. 02, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The Company’s segment results were as follows:

			Three Months Ended												Nine Months Ended
			October 2, 2020						September 27, 2019						October 2, 2020						September 27, 2019(1)
			(In thousands)
Net sales:
Fabrication Technology			$	491,497					$	539,228					$	1,431,401					$	1,692,347
Medical Technology			314,434						307,291						811,246						746,738
			$	805,931					$	846,519					$	2,242,647					$	2,439,085
Segment operating income (loss)(2):
Fabrication Technology			$	63,058					$	72,999					$	175,703					$	224,574
Medical Technology			22,869						22,456						5,877						37,743
Corporate and other			(15,079)						(14,285)						(44,730)						(99,864)
			$	70,848					$	81,170					$	136,850					$	162,453

(1) For the nine months ended September 27, 2019, the Medical Technology segment includes results from the acquisition date of February 22, 2019.

(2) Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income:

			Three Months Ended												Nine Months Ended
			October 2, 2020						September 27, 2019						October 2, 2020						September 27, 2019
			(In thousands)
Income (loss) from continuing operations before income taxes			$	36,364					$	2,417					$	25,200					$	(8,708)
Pension settlement loss			—						33,616						—						33,616
Interest expense, net			25,567						31,828						78,647						86,820
Restructuring and other related charges(1)			6,328						13,309						28,514						50,725
MDR and other(2)			2,589						—						4,489						—
Segment operating income			$	70,848					$	81,170					$	136,850					$	162,453

(1) Restructuring and other related charges includes $2.2 million and $4.9 million of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended October 2, 2020, respectively, and $3.5 million of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 27, 2019.

(2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union Medical Device Regulation of 2017.

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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=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
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Reference 5: 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=115929826&loc=d3e8906-108599

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- References

No definition available.

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