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Segment Information (Tables) | 3 Months Ended
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Apr. 02, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Below are the sales and operating profit (loss) by segment for the three months ended April 2, 2022 and April 3, 2021 and a reconciliation of segment operating profit (loss) to income before income taxes. Operating profit is net sales less cost of products sold and other operating expenses excluding interest and corporate expenses. Cost of products sold and other operating expenses are directly identifiable to the respective segment.
|  |  | Three Months Ended
(In thousands) |  |  |  |  | April 2, 2022 |  | April 3, 2021
Sales: |  |  |  |  |  |  |
Aerospace |  |  |  |  | $ | 101,394 |  |  | $ | 81,430 |
Less Inter-segment Sales |  |  |  |  | — |  |  | (14) |
Total Aerospace Sales |  |  |  |  | 101,394 |  |  | 81,416 |
Test Systems |  |  |  |  | 14,798 |  |  | 24,745 |
Less Inter-segment Sales |  |  |  |  | (16) |  |  | (304) |
Total Test Systems Sales |  |  |  |  | 14,782 |  |  | 24,441 |
Total Consolidated Sales |  |  |  |  | $ | 116,176 |  |  | $ | 105,857 |
Segment Measure of Operating Profit (Loss) and Margins |  |  |  |  |  |  |
Aerospace |  |  |  |  | $ | 3,050 |  |  | $ | (5,563) |
|  |  |  |  | 3.0 | % |  | (6.8) | %
Test Systems |  |  |  |  | (1,787) |  |  | 1,189 |
|  |  |  |  | (12.1) | % |  | 4.9 | %
Total Segment Measure of Operating Profit (Loss) |  |  |  |  | 1,263 |  |  | (4,374) |
|  |  |  |  | 1.1 | % |  | (4.1) | %
Deductions from Segment Measure of Operating Profit (Loss) |  |  |  |  |  |  |
Net Gain on Sale of Business |  |  |  |  | (11,284) |  |  | — |
Interest Expense, Net of Interest Income |  |  |  |  | 1,631 |  |  | 1,758 |
Corporate Expenses and Other |  |  |  |  | 5,892 |  |  | 5,672 |
Profit (Loss) Before Income Taxes |  |  |  |  | $ | 5,024 |  |  | $ | (11,804) |
Total Assets:
(In thousands) |  | April 2, 2022 |  | December 31, 2021
Aerospace |  | $ | 465,611 |  |  | $ | 458,334 |
Test Systems |  | 96,285 |  |  | 105,335 |
Corporate |  | 26,575 |  |  | 45,469 |
Total Assets |  | $ | 588,471 |  |  | $ | 609,138 |

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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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