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Segment Information (Tables) | 6 Months Ended
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Jun. 29, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Below are the sales and operating profit by segment for the three and six months ended June 29, 2024 and July 1, 2023, and a reconciliation of segment operating profit to (loss) 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.
| Six Months Ended |  | Three Months Ended
(In thousands) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Sales: |  |  |  |  |  |  |
Aerospace | $ | 340,623 |  |  | $ | 294,101 |  |  | $ | 176,948 |  |  | $ | 158,386 |
Less Inter-segment Sales | (42) |  |  | (122) |  |  | (5) |  |  | (4) |
Total Aerospace Sales | 340,581 |  |  | 293,979 |  |  | 176,943 |  |  | 158,382 |
Test Systems | 42,607 |  |  | 37,013 |  |  | 21,171 |  |  | 16,072 |
Less Inter-segment Sales | — |  |  | — |  |  | — |  |  | — |
Total Test Systems Sales | 42,607 |  |  | 37,013 |  |  | 21,171 |  |  | 16,072 |
Total Consolidated Sales | $ | 383,188 |  |  | $ | 330,992 |  |  | $ | 198,114 |  |  | $ | 174,454 |
Segment Measure of Operating Profit and Margins |  |  |  |  |  |  |
Aerospace | $ | 31,377 |  |  | $ | 17,806 |  |  | $ | 19,280 |  |  | $ | 13,719 |
| 9.2 | % |  | 6.1 | % |  | 10.9 | % |  | 8.7 | %
Test Systems | (8,415) |  |  | (6,740) |  |  | (5,336) |  |  | (6,143) |
| (19.8) | % |  | (18.2) | % |  | (25.2) | % |  | (38.2) | %
Total Segment Measure of Operating Profit | 22,962 |  |  | 11,066 |  |  | 13,944 |  |  | 7,576 |
| 6.0 | % |  | 3.3 | % |  | 7.0 | % |  | 4.3 | %
(Additions to) Deductions from Segment Measure of Operating Profit: |  |  |  |  |  |  |
Net Gain on Sale of Business | — |  |  | (3,427) |  |  | — |  |  | — |
Interest Expense, Net of Interest Income | 11,615 |  |  | 11,390 |  |  | 5,856 |  |  | 5,920 |
Corporate Expenses and Other | 14,617 |  |  | 10,130 |  |  | 6,829 |  |  | 5,558 |
(Loss) Income Before Income Taxes | $ | (3,270) |  |  | $ | (7,027) |  |  | $ | 1,259 |  |  | $ | (3,902) |
Total Assets:
(In thousands) |  | June 29, 2024 |  | December 31, 2023
Aerospace |  | $ | 504,462 |  |  | $ | 493,660 |
Test Systems |  | 123,294 |  |  | 122,681 |
Corporate |  | 17,103 |  |  | 17,451 |
Total Assets |  | $ | 644,859 |  |  | $ | 633,792 |

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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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