Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Cash Flow, Supplemental Disclosures

Supplemental Cash Flow Information


	(Dollars in thousands) Years Ended December 31,
	2023		2022		2021
Interest paid	$	19,856	$	10,983	$	10,135
Taxes paid, net	$	22,950	$	3,825	$	32,934
Non-cash activities:
Purchases of property and equipment not paid	$	807	$	1,195	$	1,333

Schedule of Contract with Customer, Asset and Liability

Contract assets and contract liabilities from revenue contracts with customers are as follows:


	(Dollars in thousands)
	December 31, 2023		December 31, 2022
Contract assets	$	177,686	$	191,290
Contract liabilities	$	53,492	$	47,068

Schedule of Disaggregation of Revenue

In addition to the revenue categories disclosed above, the following table reflects our revenue disaggregated by major end-use market:


			(Dollars in thousands) Years Ended December 31,				% of Net Revenues
	Change		2023		2022		2023		2022
Consolidated Ducommun
Military and space	$	(16,882)	$	403,819	$	420,701	53.3	%	59.1	%
Commercial aerospace	61,782		309,291		247,509		40.9	%	34.7	%
Industrial	(445)		43,882		44,327		5.8	%	6.2	%
Total	$	44,455	$	756,992	$	712,537	100.0	%	100.0	%

Electronic Systems
Military and space	$	(20,696)	$	293,485	$	314,181	68.2	%	71.3	%
Commercial aerospace	10,639		92,769		82,130		21.6	%	18.6	%
Industrial	(445)		43,882		44,327		10.2	%	10.1	%
Total	$	(10,502)	$	430,136	$	440,638	100.0	%	100.0	%

Structural Systems
Military and space	$	3,814	$	110,334	$	106,520	33.8	%	39.2	%
Commercial aerospace	51,143		216,522		165,379		66.2	%	60.8	%
Total	$	54,957	$	326,856	$	271,899	100.0	%	100.0	%

Schedule of Weighted Average Number of Shares Outstanding Used to Compute Earnings Per Share

The net income and weighted-average common shares outstanding used to compute earnings per share were as follows:


	(In thousands, except per share data) Years Ended December 31,
	2023		2022		2021
Net income	$	15,928	$	28,789	$	135,536
Weighted-average number of common shares outstanding
Basic weighted-average common shares outstanding	13,717		12,074		11,879
Dilutive potential common shares	255		292		372
Diluted weighted-average common shares outstanding	13,972		12,366		12,251
Earnings per share
Basic	$	1.16	$	2.38	$	11.41
Diluted	$	1.14	$	2.33	$	11.06

Schedule of Weighted Average Number of Shares Outstanding Excluded from Computation of Diluted Earnings

Potentially dilutive stock awards to purchase common stock, as shown below, were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive. However, these shares may be potentially dilutive common shares in the future.


	(In thousands) Years Ended December 31,
	2023	2022	2021
Stock options and stock units	10	52	3