Reportable Segments

9 Months Ended

Dec. 29, 2018

Segment Reporting [Abstract]

Reportable Segments

11. 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 are aggregated as reportable segments as they have similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers.

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.

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.

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

	Three Months Ended						Nine Months Ended
	December 29, 2018			December 30, 2017			December 29, 2018			December 30, 2017
Net External Sales
Plain	$	79,306		$	69,764		$	235,311		$	214,809
Roller		34,841			32,485			107,711			96,215
Ball		16,720			16,496			52,832			48,756
Engineered Products		40,586			48,113			124,500			135,292
	$	171,453		$	166,858		$	520,354		$	495,072
Gross Margin
Plain	$	31,921		$	26,689		$	93,404		$	82,941
Roller		14,631			14,458			45,858			40,176
Ball		6,861			7,021			21,548			19,936
Engineered Products		14,714			16,604			42,875			45,653
	$	68,127		$	64,772		$	203,685		$	188,706
Selling, General & Administrative Expenses
Plain	$	6,475		$	6,371		$	18,997		$	19,143
Roller		1,559			1,553			4,739			4,765
Ball		1,656			1,707			4,867			5,002
Engineered Products		4,795			5,338			15,231			15,737
Corporate		14,657			13,193			44,209			38,888
	$	29,142		$	28,162		$	88,043		$	83,535
Operating Income
Plain	$	25,044		$	19,208		$	72,443		$	61,179
Roller		13,049			12,905			41,083			35,390
Ball		5,164			5,237			16,532			14,752
Engineered Products		(8,082	)		8,817			8,315			17,839
Corporate		(15,337	)		(12,885	)		(46,653	)		(38,482	)
	$	19,838		$	33,282		$	91,720		$	90,678
Intersegment Sales
Plain	$	1,285		$	1,240		$	4,525		$	3,793
Roller		3,602			3,438			10,771			9,731
Ball		740			606			2,302			1,758
Engineered Products		9,284			7,785			28,400			23,806
	$	14,911		$	13,069		$	45,998		$	39,088

The net loss of $16,802 related to the sale of the Miami division during the third quarter of fiscal 2019 is included within the Engineered Products segment. All intersegment sales are eliminated in consolidation.