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SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Summary of Segment Reporting Information | Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
(In thousands) | 2023 |  | 2022 |  | 2021
Sales: |  |  |  |  |
Aerospace | $ | 605,001 |  |  | $ | 461,206 |  |  | $ | 365,261 |
Less Inter-segment Sales | (171) |  |  | (10) |  |  | (23) |
Total Aerospace Sales | 604,830 |  |  | 461,196 |  |  | 365,238 |
Test Systems | 84,376 |  |  | 73,717 |  |  | 80,027 |
Less Inter-segment Sales | — |  |  | (19) |  |  | (357) |
Test Systems | 84,376 |  |  | 73,698 |  |  | 79,670 |
Total Consolidated Sales | $ | 689,206 |  |  | $ | 534,894 |  |  | $ | 444,908 |
Operating Income (Loss) and Margins: |  |  |  |  |
Aerospace | $ | 24,629 |  |  | $ | (1,883) |  |  | $ | (8,614) |
| 4.1 | % |  | (0.4) | % |  | (2.4) | %
Test Systems | (8,745) |  |  | (8,118) |  |  | (3,765) |
| (10.4) | % |  | (11.0) | % |  | (4.7) | %
Total Operating Income (Loss) | $ | 15,884 |  |  | $ | (10,001) |  |  | $ | (12,379) |
| 2.3 | % |  | (1.9) | % |  | (2.8) | %
Additions to (Deductions from) Operating Profit: |  |  |  |  |
Net Gain on Sale of Businesses | $ | 3,427 |  |  | $ | 11,284 |  |  | $ | 10,677 |
Interest Expense, Net of Interest Income | (23,328) |  |  | (9,422) |  |  | (6,804) |
Corporate and Other Expenses, Net | (22,294) |  |  | (21,654) |  |  | (18,454) |
Loss before Income Taxes | $ | (26,311) |  |  | $ | (29,793) |  |  | $ | (26,960) |
Depreciation and Amortization: |  |  |  |  |
Aerospace | $ | 20,801 |  |  | $ | 22,384 |  |  | $ | 23,349 |
Test Systems | 5,068 |  |  | 4,341 |  |  | 5,022 |
Corporate | 235 |  |  | 1,052 |  |  | 634 |
Total Depreciation and Amortization | $ | 26,104 |  |  | $ | 27,777 |  |  | $ | 29,005 |
Assets: |  |  |  |  |
Aerospace | $ | 493,660 |  |  | $ | 481,416 |  |  |
Test Systems | 122,681 |  |  | 111,513 |  |  |
Corporate | 17,451 |  |  | 22,102 |  |  |
Total Assets | $ | 633,792 |  |  | $ | 615,031 |  |  |
Capital Expenditures: |  |  |  |  |
Aerospace | $ | 5,003 |  |  | $ | 4,289 |  |  | $ | 4,932 |
Test Systems | 2,640 |  |  | 3,299 |  |  | 1,082 |
Corporate | — |  |  | 87 |  |  | 20 |
Total Capital Expenditures | $ | 7,643 |  |  | $ | 7,675 |  |  | $ | 6,034 |
Summary of the Company's Sales and Long-Lived Assets by Geographic Region | The following table summarizes the Company’s sales into the following geographic regions for the years ended December 31:
(In thousands) | 2023 |  | 2022 |  | 2021
United States | $ | 518,096 |  |  | $ | 419,431 |  |  | $ | 350,428 |
North America (excluding United States) | 14,878 |  |  | 9,222 |  |  | 6,990 |
Asia | 26,165 |  |  | 21,242 |  |  | 21,089 |
Europe | 123,682 |  |  | 78,625 |  |  | 62,138 |
South America | 2,071 |  |  | 3,629 |  |  | 1,082 |
Other | 4,314 |  |  | 2,745 |  |  | 3,181 |
Total | $ | 689,206 |  |  | $ | 534,894 |  |  | $ | 444,908 |
The following table summarizes the Company’s property, plant and equipment by country for the years ended December 31:
(In thousands) | 2023 |  | 2022
United States | $ | 77,939 |  |  | $ | 82,317 |
France | 6,417 |  |  | 6,974 |
India | 487 |  |  | 653 |
Canada | 593 |  |  | 714 |
Total | $ | 85,436 |  |  | $ | 90,658 |
Summary of Activities with Major Customers | The following is information relating to the activity with this customer:
| 2023 |  | 2022 |  | 2021
Percent of Consolidated Sales |  |  |  |  |
Boeing | 11.0% |  | 11.0% |  | 10.0%
(In thousands) | 2023 |  | 2022
Accounts Receivable at December 31, |  |  |
Boeing | $ | 17,314 |  |  | $ | 16,860 |

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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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 -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 Reference 2: 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 + 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 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: 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 3: 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 4: 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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