Business Segment Information

3 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

We supply products and services primarily to the aerospace and defense industries. Our subsidiaries are organized into two strategic businesses, Electronic Systems and Structural Systems, each of which is a reportable operating segment.

Financial information by reportable operating segment was as follows:

	(Dollars in thousands) Three Months Ended
	April 2, 2022		April 3, 2021
Net Revenues
Electronic Systems	$	97,466	$	99,104
Structural Systems	66,015		58,047
Total Net Revenues	$	163,481	$	157,151
Segment Operating Income
Electronic Systems	$	9,411	$	12,491
Structural Systems	4,887		5,128
	14,298		17,619
Corporate General and Administrative Expenses (1)	(5,175)		(7,009)
Operating Income	$	9,123	$	10,610
Depreciation and Amortization Expenses
Electronic Systems	$	3,506	$	3,423
Structural Systems	4,203		3,440
Corporate Administration	59		59
Total Depreciation and Amortization Expenses	$	7,768	$	6,922
Capital Expenditures
Electronic Systems	$	1,696	$	624
Structural Systems	3,372		1,989
Corporate Administration	—		—
Total Capital Expenditures	$	5,068	$	2,613

(1)Includes costs not allocated to either the Electronic Systems or Structural Systems operating segments.

Segment assets include assets directly identifiable to or allocated to each segment. Our segment assets are as follows:

	(Dollars in thousands)
	April 2, 2022		December 31, 2021
Total Assets
Electronic Systems	$	516,865	$	490,814
Structural Systems	413,955		408,118
Corporate Administration (1)	28,511		79,803
Total Assets	$	959,331	$	978,735
Goodwill and Intangibles
Electronic Systems	$	189,467	$	191,789
Structural Systems	152,343		153,669
Total Goodwill and Intangibles	$	341,810	$	345,458

(1)Includes assets not specifically identified to or allocated to either the Electronic Systems or Structural Systems operating segments, including cash and cash equivalents.