Reportable Segments

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Reportable Segments

15. REPORTABLE SEGMENTS

The Company prepares financial results based on three operating segments (Products, Services, and Fluid Solutions) and two reportable segments (Products and Services). The Products and Fluid Solutions operating segments have been aggregated into the Products reportable segment based upon consistency of economic characteristics, nature of products, similarity of production process, and class of customers. The Company’s Chief Executive Officer (chief operating decision maker) views and evaluates operations based on the results of each of the reportable segments. The following table describes each segment:

Segment	Product or Services	Primary Markets Served	Geographic Areas
Products	Assembly Weldments Machining Fabrication	Semiconductor	Americas Asia Pacific EMEA
Services	Cleaning Coating Analytics	Semiconductor	Americas Asia Pacific EMEA

The Company uses segment profit or loss as the primary measure of profitability to evaluate operating performance and to allocate capital resources. Segment profit or loss is defined as a segment’s income or loss from continuing operations before other income and income taxes included in the accompanying Condensed Consolidated Statements of Operations.

Any intercompany sales and associated profit (and any other intercompany items) are eliminated from segment results. There were no significant intercompany eliminations for the periods presented.

Segment Data

	Three Months Ended					Six Months Ended
	June 30,		July 1,			June 30,		July 1,
(In millions)	2023		2022			2023		2022
Revenues:
Products	$	362.5	$	532.0		$	731.1	$	1,018.9
Services		59.0		76.7			123.7		154.0
Total segment revenues	$	421.5	$	608.7		$	854.8	$	1,172.9
Gross margin:
Products	$	51.4	$	90.9		$	104.9	$	178.3
Services		16.7		27.5			36.2		53.9
Total segment gross margin	$	68.1	$	118.4		$	141.1	$	232.2
Income (loss) from operations:
Products	$	10.8	$	(14.4	)	$	19.5	$	23.3
Services		1.8		8.9			5.5		17.0
Total segment income (loss) from operations	$	12.6	$	(5.5	)	$	25.0	$	40.3
						June 30,		December 30,
(In millions)						2023		2022
Assets
Products						$	1,550.9	$	1,650.2
Services							292.8		310.7
Total segment assets						$	1,843.7	$	1,960.9

As of June 30, 2023, approximately $128.7 million and $81.4 million of the Company’s net long-lived assets were located in Asia Pacific and EMEA, respectively, and the remaining balances were located in the United States. At December 30, 2022, approximately $129.1 million and $76.2 million of the Company’s net long-lived assets were located in Asia Pacific and EMEA, respectively, and the remaining balances were located in the United States.