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Business Segment Information | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, Electronic Systems and Structural Systems, each of which is a reportable operating segment. Financial information by reportable operating segment was as follows:
|  | (Dollars in thousands) Three Months Ended |  | (Dollars in thousands) Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Net Revenues |  |  |  |  |  |  |  |
Electronic Systems |  | $ | 110,707 |  |  | $ | 113,404 |  |  | $ | 323,457 |  |  | $ | 320,602 |
Structural Systems |  | 85,543 |  |  | 73,186 |  |  | 241,304 |  |  | 203,667 |
Total Net Revenues |  | $ | 196,250 |  |  | $ | 186,590 |  |  | $ | 564,761 |  |  | $ | 524,269 |
Segment Operating Income (1) |  |  |  |  |  |  |  |
Electronic Systems |  | $ | 12,710 |  |  | $ | 13,881 |  |  | $ | 32,249 |  |  | $ | 36,902 |
Structural Systems |  | 6,743 |  |  | 6,687 |  |  | 16,873 |  |  | 12,839 |
|  | 19,453 |  |  | 20,568 |  |  | 49,122 |  |  | 49,741 |
Corporate General and Administrative Expenses (2) |  | (10,844) |  |  | (7,351) |  |  | (29,136) |  |  | (19,647) |
Total Operating Income |  | $ | 8,609 |  |  | $ | 13,217 |  |  | $ | 19,986 |  |  | $ | 30,094 |
Depreciation and Amortization Expenses |  |  |  |  |  |  |  |
Electronic Systems |  | $ | 3,567 |  |  | $ | 3,510 |  |  | $ | 10,626 |  |  | $ | 10,500 |
Structural Systems |  | 4,852 |  |  | 4,100 |  |  | 13,619 |  |  | 12,659 |
Corporate Administration |  | 59 |  |  | 59 |  |  | 176 |  |  | 176 |
Total Depreciation and Amortization Expenses |  | $ | 8,478 |  |  | $ | 7,669 |  |  | $ | 24,421 |  |  | $ | 23,335 |
Capital Expenditures |  |  |  |  |  |  |  |
Electronic Systems |  | $ | 978 |  |  | $ | 3,192 |  |  | $ | 4,752 |  |  | $ | 7,831 |
Structural Systems |  | 3,802 |  |  | 1,175 |  |  | 11,043 |  |  | 7,033 |
Corporate Administration |  | — |  |  | — |  |  | — |  |  | — |
Total Capital Expenditures |  | $ | 4,780 |  |  | $ | 4,367 |  |  | $ | 15,795 |  |  | $ | 14,864 |
(1)The results for the three and nine months ended September 30, 2023 include BLR’s results of operations which have been included in our condensed consolidated statements of income since the date of acquisition as part of the Structural Systems segment. See Note 2. (2)Includes costs not allocated to either the Electronic Systems or Structural Systems operating segments. Segment assets include assets directly identifiable to or allocated to each segment. Our segment assets are as follows:
|  | (Dollars in thousands)
|  | September 30, 2023 |  | December 31, 2022
Total Assets |  |  |  |
Electronic Systems |  | $ | 540,497 |  |  | $ | 543,298 |
Structural Systems (1) |  | 550,201 |  |  | 410,565 |
Corporate Administration (2) |  | 51,653 |  |  | 67,643 |
Total Assets |  | $ | 1,142,351 |  |  | $ | 1,021,506 |
Goodwill and Intangibles |  |  |  |
Electronic Systems |  | $ | 175,536 |  |  | $ | 182,501 |
Structural Systems (1) |  | 239,729 |  |  | 148,107 |
Total Goodwill and Intangibles |  | $ | 415,265 |  |  | $ | 330,608 |
(1)In April 2023, we acquired 100.0% of the outstanding equity interests of BLR for an initial purchase price of $115.0 million, net of cash acquired. We allocated the gross purchase price of $117.0 million to the assets acquired and liabilities assumed at their estimated fair values. The excess of the purchase price over the aggregate fair values of the net assets was recorded as goodwill. See Note 2. (2)Includes assets not specifically identified to or allocated to either the Electronic Systems or Structural Systems operating segments, including cash and cash equivalents.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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