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v3.24.3

Segment Information (Tables) | 9 Months Ended
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Sep. 29, 2024
Segment Reporting [Abstract] |
Schedule of Operating Segment Information | Segment information for the three and nine months ended September 29, 2024 and October 1, 2023 is presented in the following table:
| Three Months Ended |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
| (in thousands)
Net sales |  |  |  |  |  |  |
AMS | $ | 210,155 |  |  | $ | 178,194 |  |  | $ | 595,082 |  |  | $ | 548,716 |
EAAA | 134,115 |  |  | 132,812 |  |  | 385,566 |  |  | 387,664 |
Total net sales | $ | 344,270 |  |  | $ | 311,006 |  |  | $ | 980,648 |  |  | $ | 936,380 |
Segment AOI |  |  |  |  |  |  |
AMS | $ | 32,187 |  |  | $ | 23,318 |  |  | $ | 77,214 |  |  | $ | 58,621 |
EAAA | 11,299 |  |  | 9,049 |  |  | 31,402 |  |  | 16,805 |
Depreciation and amortization |  |  |  |  |  |  |
AMS | $ | 4,453 |  |  | $ | 4,640 |  |  | $ | 13,252 |  |  | $ | 13,457 |
EAAA | 5,449 |  |  | 5,805 |  |  | 15,994 |  |  | 17,134 |
Total depreciation and amortization | $ | 9,902 |  |  | $ | 10,445 |  |  | $ | 29,246 |  |  | $ | 30,591 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
| September 29, 2024 |  | December 31, 2023
| (in thousands)
Assets |  |  |
AMS | $ | 628,090 |  |  | $ | 627,782 |
EAAA | 640,638 |  |  | 630,939 |
Total segment assets | 1,268,728 |  |  | 1,258,721 |
Corporate assets | 112,674 |  |  | 108,673 |
Eliminations | (138,138) |  |  | (137,299) |
Total reported assets | $ | 1,243,264 |  |  | $ | 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 |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
| (in thousands)
AMS operating income | $ | 31,878 |  |  | $ | 23,530 |  |  | $ | 76,877 |  |  | $ | 56,997 |
EAAA operating income | 10,297 |  |  | 7,455 |  |  | 27,895 |  |  | 12,373 |
Consolidated operating income | 42,175 |  |  | 30,985 |  |  | 104,772 |  |  | 69,370 |
Interest expense | 5,721 |  |  | 8,163 |  |  | 18,317 |  |  | 24,986 |
Other expense, net | 381 |  |  | 6,702 |  |  | 237 |  |  | 7,674 |
Income before income tax expense | $ | 36,073 |  |  | $ | 16,120 |  |  | $ | 86,218 |  |  | $ | 36,710 |
| Three Months Ended September 29, 2024 |  | Three Months Ended October 1, 2023
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 31,878 |  |  | $ | 10,297 |  |  | $ | 23,530 |  |  | $ | 7,455 |
Purchase accounting amortization | — |  |  | 1,311 |  |  | — |  |  | 1,302 |
Cyber Event impact | — |  |  | — |  |  | 62 |  |  | 42 |
Restructuring, asset impairment, severance, and other, net | 309 |  |  | (309) |  |  | (274) |  |  | 250 |
AOI | $ | 32,187 |  |  | $ | 11,299 |  |  | $ | 23,318 |  |  | $ | 9,049 |
| Nine Months Ended September 29, 2024 |  | Nine Months Ended October 1, 2023
| AMS |  | EAAA |  | AMS |  | EAAA
| (in thousands)
Operating income | $ | 76,877 |  |  | $ | 27,895 |  |  | $ | 56,997 |  |  | $ | 12,373 |
Purchase accounting amortization | — |  |  | 3,895 |  |  | — |  |  | 3,886 |
Cyber Event impact | (225) |  |  | (156) |  |  | 554 |  |  | 415 |
Restructuring, asset impairment, severance, and other, net | 562 |  |  | (232) |  |  | 1,070 |  |  | 131 |
AOI | $ | 77,214 |  |  | $ | 31,402 |  |  | $ | 58,621 |  |  | $ | 16,805 |

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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 -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
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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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