XML 74 R32.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Information (Tables)
3 Months Ended
Mar. 29, 2020
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]

During the quarter ended March 29, 2020, we divested our I&S business, which was previously part of the Energy segment. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. In light of this divestiture, effective March 29, 2020, we realigned our segments by eliminating the Energy segment and moving the remaining businesses into the Industrial segment. The new reporting segments are Industrial and Aerospace & Defense. The current and prior periods are reported under this new segment structure.

The following table presents certain reportable segment information (in thousands):
 
Three Months Ended
 
March 29, 2020
 
March 31, 2019
Net revenues
 
 
 
Aerospace & Defense
$
65,493

 
$
61,240

Industrial
126,720

 
177,615

Consolidated net revenues
$
192,213

 
$
238,855

Results from continuing operations before income taxes
 
 
 
Aerospace & Defense - Segment Operating Income
$
12,494

 
$
9,374

Industrial - Segment Operating Income
5,169

 
22,581

Corporate expenses
(6,588
)
 
(8,522
)
Segment Operating Income
11,075

 
23,433

Impairment charge
116,182

 

Restructuring charges, net
2,883

 
358

Special recoveries, net
(45,175
)
 
(8,200
)
Special and restructuring recoveries, net
(42,292
)
 
(7,842
)
Restructuring related inventory charges
(602
)
 
325

Acquisition amortization
10,218

 
12,077

Acquisition depreciation
974

 
1,123

Acquisition amortization and other costs, net
10,590

 
13,525

Consolidated operating (loss) income
(73,405
)
 
17,750

Interest expense, net
9,011

 
13,094

Other income, net
(2,680
)
 
(2,148
)
(Loss) income from continuing operations before income taxes
$
(79,736
)
 
$
6,804

 
 
 
 
 
Three Months Ended
 
March 29, 2020
 
March 31, 2019
Capital expenditures
 
 
 
Aerospace & Defense
$
640

 
$
788

Industrial
2,225

 
1,676

Corporate
198

 
387

Consolidated capital expenditures
$
3,063

 
$
2,851

 
 
 
 
Depreciation and amortization
 
 
 
Aerospace & Defense
$
3,093

 
$
2,673

Industrial
12,419

 
15,199

Corporate
125

 
164

Consolidated depreciation and amortization
$
15,637

 
$
18,036

 
 
 
 
Identifiable assets
March 29, 2020
 
March 31, 2019
Aerospace & Defense
$
463,744

 
$
406,064

Industrial
1,650,963

 
2,288,645

Corporate
(805,630
)
 
(975,375
)
Consolidated identifiable assets
$
1,309,077

 
$
1,719,334