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Business Segment Information (Tables)
6 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Segment
Financial information by reportable operating segment was as follows:
(Dollars in thousands)
Three Months Ended
(Dollars in thousands)
Six Months Ended
 July 1,
2023
July 2,
2022
July 1,
2023
July 2,
2022
Net Revenues
Electronic Systems$107,124 $109,732 $212,750 $207,198 
Structural Systems80,196 64,466 155,761 130,481 
Total Net Revenues$187,320 $174,198 $368,511 $337,679 
Segment Operating Income (1)
Electronic Systems$9,528 $13,610 $19,539 $23,021 
Structural Systems5,385 1,265 10,130 6,152 
14,913 14,875 29,669 29,173 
Corporate General and Administrative Expenses (2)
(9,908)(7,121)(18,292)(12,296)
Total Operating Income$5,005 $7,754 $11,377 $16,877 
Depreciation and Amortization Expenses
Electronic Systems$3,561 $3,484 $7,059 $6,990 
Structural Systems4,335 4,356 8,767 8,559 
Corporate Administration58 58 117 117 
Total Depreciation and Amortization Expenses$7,954 $7,898 $15,943 $15,666 
Capital Expenditures
Electronic Systems$1,923 $2,943 $3,774 $4,639 
Structural Systems4,111 2,486 7,241 5,858 
Corporate Administration— — — — 
Total Capital Expenditures$6,034 $5,429 $11,015 $10,497 
(1)The results for the three and six months ended July 1, 2023 include BLR’s results of operations which have been included in our condensed consolidated statements of income since the date of acquisition as part of the Structural Systems segment. See Note 2.
(2)Includes costs not allocated to either the Electronic Systems or Structural Systems operating segments.
Schedule of Segment Assets Our segment assets are as follows:
(Dollars in thousands)
 July 1,
2023
December 31,
2022
Total Assets
Electronic Systems$532,832 $543,298 
Structural Systems (1)
541,872 410,565 
Corporate Administration (2)
44,050 67,643 
Total Assets$1,118,754 $1,021,506 
Goodwill and Intangibles
Electronic Systems$177,858 $182,501 
Structural Systems (1)
241,704 148,107 
Total Goodwill and Intangibles$419,562 $330,608 
(1)On April 25, 2023, we acquired 100.0% of the outstanding equity interests of BLR for an initial purchase price of $115.0 million, net of cash acquired. We allocated the preliminary gross purchase price of $117.0 million to the assets acquired and liabilities assumed at their estimated fair values. The excess of the purchase price over the aggregate fair values of the net assets was recorded as goodwill. See Note 2.
(2)Includes assets not specifically identified to or allocated to either the Electronic Systems or Structural Systems operating segments, including cash and cash equivalents.