Reportable Segments

3 Months Ended

Mar. 29, 2024

Segment Reporting [Abstract]

Reportable Segments

REPORTABLE SEGMENTS

The Company prepares financial results based on three operating segments (Products, Services, and HIS) and two reportable segments (Products and Services). The Products and HIS 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 Analytics Coating	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
(In millions)	March 29, 2024		March 31, 2023
Revenues:
Products	$	418.5	$	368.6
Services	59.2		64.7
Total segment revenues	$	477.7	$	433.3
Gross margin:
Products	$	64.5	$	53.5
Services	18.1		19.5
Total segment gross margin	$	82.6	$	73.0
Income from operations:
Products	$	14.7	$	8.7
Services	2.6		3.7
Total segment income from operations	$	17.3	$	12.4
(In millions)	March 29, 2024		December 29, 2023
Assets
Products	$	1,624.6	$	1,617.5
Services	263.0		250.2
Total segment assets	$	1,887.6	$	1,867.7

Long-lived assets comprised of operating lease right-of-use assets and property, plant and equipment, net, reported based on the location of the asset. The carrying amount of long-lived assets in United States, Malaysia, Israel, South Korea and other foreign countries were $178.4 million, $85.9 million, $74.8 million, $50.8 million and $102.7 million, respectively as of March 29, 2024, and $165.4 million, $84.3 million, $74.3 million, $54.3 million and $101.7 million, respectively as of December 29, 2023.