Reportable Segments

3 Months Ended

Jul. 01, 2017

Segment Reporting [Abstract]

Reportable Segments

8.        Reportable Segments

The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. Those operating segments with similar economic characteristics and that meet all other required criteria, including nature of the products and production processes, distribution patterns and classes of customers, are aggregated as reportable segments.

The Company has four reportable business segments; Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below.

Plain Bearings. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consists of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings. Unlike ball bearings, which are used in high-speed rotational applications, plain bearings are primarily used to rectify inevitable misalignments in various mechanical components. The bearings and rings businesses of Sargent are included here.

Roller Bearings. Roller bearings are anti-friction bearings that use rollers instead of balls. The Company manufactures four basic types of roller bearings: heavy duty needle roller bearings with inner rings, tapered roller bearings, track rollers and aircraft roller bearings.

Ball Bearings. The Company manufactures four basic types of ball bearings: high precision aerospace, airframe control, thin section and commercial ball bearings which are used in high-speed rotational applications.

Engineered Products. Engineered Products consists of highly engineered hydraulics, fasteners, collets and precision components used in aerospace, marine and industrial applications. The hydraulics, fasteners and precision components businesses of Sargent are included here.

Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.

	Three Months Ended
	July 1, 2017			July 2, 2016
Net External Sales
Plain	$	72,653		$	70,450
Roller		31,413			27,834
Ball		15,780			13,710
Engineered Products		44,051			42,585
	$	163,897		$	154,579
Gross Margin
Plain	$	28,376		$	26,554
Roller		12,755			12,289
Ball		6,175			5,304
Engineered Products		14,603			13,104
	$	61,909		$	57,251
Selling, General & Administrative Expenses
Plain	$	6,449		$	5,990
Roller		1,571			1,441
Ball		1,615			1,462
Engineered Products		5,277			4,893
Corporate		12,866			12,010
	$	27,778		$	25,796
Operating Income
Plain	$	21,161		$	19,763
Roller		11,183			10,788
Ball		4,495			3,714
Engineered Products		8,217			6,947
Corporate		(13,256	)		(11,991	)
	$	31,800		$	29,221
Geographic External Sales
Domestic	$	143,026		$	135,177
Foreign		20,871			19,402
	$	163,897		$	154,579
Intersegment Sales
Plain	$	1,156		$	1,213
Roller		3,409			3,984
Ball		528			515
Engineered Products		8,173			7,517
	$	13,266		$	13,229

All intersegment sales are eliminated in consolidation.