XML 31 R22.htm IDEA: XBRL DOCUMENT
v3.23.3

Summary of Significant Accounting Policies (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Accounting Policies [Abstract] |
Schedule of Cash Flow, Supplemental Disclosures | Supplemental Cash Flow Information
|  | (Dollars in thousands)
|  | Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022
Interest paid |  | $ | 14,528 |  |  | $ | 7,417 |
Taxes paid, net |  | $ | 10,322 |  |  | $ | 2,286 |
Non-cash activities: |  |  |  |
Purchases of property and equipment not paid |  | $ | 958 |  |  | $ | 1,828 |
Schedule of Weighted Average Number of Shares Outstanding Used to Compute Earnings Per Share | The net income and weighted-average common shares outstanding used to compute earnings per share were as follows:
|  | (Dollars in thousands, except per share data) |  | (Dollars in thousands, except per share data)
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Net income |  | $ | 3,213 |  |  | $ | 8,462 |  |  | $ | 10,818 |  |  | $ | 20,708 |
Weighted-average number of common shares outstanding |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding |  | 14,625 |  |  | 12,112 |  |  | 13,408 |  |  | 12,057 |
Dilutive potential common shares |  | 189 |  |  | 238 |  |  | 253 |  |  | 289 |
Diluted weighted-average common shares outstanding |  | 14,814 |  |  | 12,350 |  |  | 13,661 |  |  | 12,346 |
Earnings per share |  |  |  |  |  |  |  |
Basic |  | $ | 0.22 |  |  | $ | 0.70 |  |  | $ | 0.81 |  |  | $ | 1.72 |
Diluted |  | $ | 0.22 |  |  | $ | 0.69 |  |  | $ | 0.79 |  |  | $ | 1.68 |
Schedule of Weighted Average Number of Shares Outstanding Excluded from Computation of Diluted Earnings | Potentially dilutive stock awards, as shown below, were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive. However, these awards may be potentially dilutive common shares in the future.
|  | (In thousands) |  | (In thousands)
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Stock options and stock units |  | 82 |  |  | 82 |  |  | 45 |  |  | 50 |
Schedule of Contract with Customer, Asset and Liability | Contract assets and contract liabilities from revenue contracts with customers are as follows:
|  | (Dollars in thousands)
|  | September 30, 2023 |  | December 31, 2022
Contract assets |  | $ | 191,151 |  |  | $ | 191,290 |
Contract liabilities |  | $ | 51,477 |  |  | $ | 47,068 |
Schedule of Disaggregation of Revenue | In addition to the revenue categories disclosed above, the following table reflects our revenue disaggregated by major end-use market:
|  | (Dollars in thousands) |  | (Dollars in thousands)
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Consolidated Ducommun |  |  |  |  |  |  |  |
Military and space |  | $ | 108,693 |  |  | $ | 106,303 |  |  | $ | 301,020 |  |  | $ | 312,317 |
Commercial aerospace |  | 77,904 |  |  | 68,348 |  |  | 229,201 |  |  | 179,490 |
Industrial |  | 9,653 |  |  | 11,939 |  |  | 34,540 |  |  | 32,462 |
Total |  | $ | 196,250 |  |  | $ | 186,590 |  |  | $ | 564,761 |  |  | $ | 524,269 |
Electronic Systems |  |  |  |  |  |  |  |
Military and space |  | $ | 75,579 |  |  | $ | 78,811 |  |  | $ | 220,678 |  |  | $ | 230,818 |
Commercial aerospace |  | 25,475 |  |  | 22,654 |  |  | 68,239 |  |  | 57,322 |
Industrial |  | 9,653 |  |  | 11,939 |  |  | 34,540 |  |  | 32,462 |
Total |  | $ | 110,707 |  |  | $ | 113,404 |  |  | $ | 323,457 |  |  | $ | 320,602 |
Structural Systems |  |  |  |  |  |  |  |
Military and space |  | $ | 33,114 |  |  | $ | 27,492 |  |  | $ | 80,342 |  |  | $ | 81,499 |
Commercial aerospace |  | 52,429 |  |  | 45,694 |  |  | 160,962 |  |  | 122,168 |
Total |  | $ | 85,543 |  |  | $ | 73,186 |  |  | $ | 241,304 |  |  | $ | 203,667 |

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

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration