XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Operating Segment Information | Segment information for the three and six months ended June 30, 2024 and July 2, 2023 is presented in the following table:
| Three Months Ended |  | Six Months Ended
| June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
| (in thousands)
Net sales |  |  |  |  |  |  |
AMS | $ | 215,012 |  |  | $ | 201,281 |  |  | $ | 384,927 |  |  | $ | 370,522 |
EAAA | 131,623 |  |  | 128,301 |  |  | 251,451 |  |  | 254,852 |
Total net sales | $ | 346,635 |  |  | $ | 329,582 |  |  | $ | 636,378 |  |  | $ | 625,374 |
Segment AOI |  |  |  |  |  |  |
AMS | $ | 26,947 |  |  | $ | 24,034 |  |  | $ | 45,027 |  |  | $ | 35,303 |
EAAA | 12,658 |  |  | 3,827 |  |  | 20,103 |  |  | 7,756 |
Depreciation and amortization |  |  |  |  |  |  |
AMS | $ | 4,446 |  |  | $ | 4,424 |  |  | $ | 8,799 |  |  | $ | 8,817 |
EAAA | 5,282 |  |  | 5,731 |  |  | 10,545 |  |  | 11,329 |
Total depreciation and amortization | $ | 9,728 |  |  | $ | 10,155 |  |  | $ | 19,344 |  |  | $ | 20,146 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
| June 30, 2024 |  | December 31, 2023
| (in thousands)
Assets |  |  |
AMS | $ | 581,835 |  |  | $ | 627,782 |
EAAA | 618,901 |  |  | 630,939 |
Total segment assets | 1,200,736 |  |  | 1,258,721 |
Corporate assets | 109,939 |  |  | 108,673 |
Eliminations | (94,558) |  |  | (137,299) |
Total reported assets | $ | 1,216,117 |  |  | $ | 1,230,095 |
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 |  | Six Months Ended
| June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
| (in thousands)
AMS operating income | $ | 26,804 |  |  | $ | 24,752 |  |  | $ | 44,999 |  |  | $ | 33,467 |
EAAA operating income | 11,347 |  |  | 4,156 |  |  | 17,598 |  |  | 4,918 |
Consolidated operating income | 38,151 |  |  | 28,908 |  |  | 62,597 |  |  | 38,385 |
Interest expense | 6,173 |  |  | 8,318 |  |  | 12,596 |  |  | 16,823 |
Other expense (income), net | 832 |  |  | (528) |  |  | (144) |  |  | 972 |
Income before income tax expense | $ | 31,146 |  |  | $ | 21,118 |  |  | $ | 50,145 |  |  | $ | 20,590 |
| Three Months Ended June 30, 2024 |  | Three Months Ended July 2, 2023
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 26,804 |  |  | $ | 11,347 |  |  | $ | 24,752 |  |  | $ | 4,156 |
Purchase accounting amortization | — |  |  | 1,287 |  |  | — |  |  | 1,301 |
Cyber Event impact | 21 |  |  | 14 |  |  | 264 |  |  | 173 |
Property casualty loss(1) | — |  |  | — |  |  | (1,300) |  |  | — |
Restructuring, asset impairment, severance, and other, net | 122 |  |  | 10 |  |  | 318 |  |  | (1,803) |
AOI | $ | 26,947 |  |  | $ | 12,658 |  |  | $ | 24,034 |  |  | $ | 3,827 |
(1) Represents insurance recovery of loss recognized in the first quarter of 2023.
| Six Months Ended June 30, 2024 |  | Six Months Ended July 2, 2023
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 44,999 |  |  | $ | 17,598 |  |  | $ | 33,467 |  |  | $ | 4,918 |
Purchase accounting amortization | — |  |  | 2,584 |  |  | — |  |  | 2,584 |
Cyber Event impact | (225) |  |  | (156) |  |  | 492 |  |  | 373 |
Restructuring, asset impairment, severance, and other, net | 253 |  |  | 77 |  |  | 1,344 |  |  | (119) |
AOI | $ | 45,027 |  |  | $ | 20,103 |  |  | $ | 35,303 |  |  | $ | 7,756 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration