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v3.22.2.2

Segment Information (Tables) | 9 Months Ended
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Oct. 02, 2022
Segment Reporting [Abstract] |
Schedule of Operating Segment Information | Segment information for the three and nine months ended October 2, 2022 and October 3, 2021 is presented in the following table:
| Three Months Ended |  | Nine Months Ended
| October 2, 2022 |  | October 3, 2021 |  | October 2, 2022 |  | October 3, 2021
| (in thousands)
Net sales |  |  |  |  |  |  |
AMS | $ | 194,449 |  |  | $ | 176,770 |  |  | $ | 557,768 |  |  | $ | 460,402 |
EAAA | 133,308 |  |  | 135,937 |  |  | 404,596 |  |  | 400,350 |
Total net sales | $ | 327,757 |  |  | $ | 312,707 |  |  | $ | 962,364 |  |  | $ | 860,752 |
Segment AOI |  |  |  |  |  |  |
AMS | $ | 24,975 |  |  | $ | 21,595 |  |  | $ | 74,502 |  |  | $ | 54,606 |
EAAA | 6,273 |  |  | 8,586 |  |  | 25,908 |  |  | 26,557 |
Depreciation and amortization |  |  |  |  |  |  |
AMS | $ | 4,344 |  |  | $ | 4,365 |  |  | $ | 12,585 |  |  | $ | 13,592 |
EAAA | 5,481 |  |  | 7,052 |  |  | 18,076 |  |  | 21,495 |
Total depreciation and amortization | $ | 9,825 |  |  | $ | 11,417 |  |  | $ | 30,661 |  |  | $ | 35,087 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
| October 2, 2022 |  | January 2, 2022
| (in thousands)
Assets |  |  |
AMS | $ | 556,558 |  |  | $ | 652,423 |
EAAA | 635,210 |  |  | 691,844 |
Total segment assets | 1,191,768 |  |  | 1,344,267 |
Corporate assets | 114,204 |  |  | 146,204 |
Eliminations | (65,339) |  |  | (160,414) |
Total reported assets | $ | 1,240,633 |  |  | $ | 1,330,057 |
Reconciliation of Operating Income to Income Before Income Tax Expense and Segment AOI | Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows:
| Three Months Ended |  | Nine Months Ended
| October 2, 2022 |  | October 3, 2021 |  | October 2, 2022 |  | October 3, 2021
| (in thousands)
AMS operating income | $ | 24,955 |  |  | $ | 21,684 |  |  | $ | 74,618 |  |  | $ | 54,432 |
EAAA operating income | 3,087 |  |  | 3,093 |  |  | 15,369 |  |  | 16,435 |
Consolidated operating income | 28,042 |  |  | 24,777 |  |  | 89,987 |  |  | 70,867 |
Interest expense | 7,747 |  |  | 7,727 |  |  | 21,787 |  |  | 22,272 |
Other expense, net | 124 |  |  | 887 |  |  | 1,688 |  |  | 2,219 |
Income before income tax expense | $ | 20,171 |  |  | $ | 16,163 |  |  | $ | 66,512 |  |  | $ | 46,376 |
| Three Months Ended October 2, 2022 |  | Three Months Ended October 3, 2021
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 24,955 |  |  | $ | 3,087 |  |  | $ | 21,684 |  |  | $ | 3,093 |
Purchase accounting amortization | — |  |  | 1,204 |  |  | — |  |  | 1,407 |
Thailand plant closure inventory write-down | — |  |  | 477 |  |  | — |  |  | — |
Restructuring, asset impairment, severance and other charges | 20 |  |  | 1,505 |  |  | (89) |  |  | 4,086 |
AOI | $ | 24,975 |  |  | $ | 6,273 |  |  | $ | 21,595 |  |  | $ | 8,586 |
| Nine Months Ended October 2, 2022 |  | Nine Months Ended October 3, 2021
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 74,618 |  |  | $ | 15,369 |  |  | $ | 54,432 |  |  | $ | 16,435 |
Purchase accounting amortization | — |  |  | 3,817 |  |  | — |  |  | 4,269 |
Thailand plant closure inventory write-down | — |  |  | 2,530 |  |  | — |  |  | — |
Restructuring, asset impairment, severance and other charges | (116) |  |  | 4,192 |  |  | 174 |  |  | 5,853 |
AOI | $ | 74,502 |  |  | $ | 25,908 |  |  | $ | 54,606 |  |  | $ | 26,557 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + 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 -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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