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Business Segment Information (Tables)
9 Months Ended
Sep. 28, 2024
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)
Nine Months Ended
 September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Net Revenues
Electronic Systems$115,412 $110,707 $324,391 $323,457 
Structural Systems86,000 85,543 264,868 241,304 
Total Net Revenues$201,412 $196,250 $589,259 $564,761 
Segment Operating Income (1)
Electronic Systems$18,910 $12,710 $54,685 $32,249 
Structural Systems8,289 6,743 21,716 16,873 
27,199 19,453 76,401 49,122 
Corporate General and Administrative Expenses (2)
(11,933)(10,844)(34,589)(29,136)
Total Operating Income$15,266 $8,609 $41,812 $19,986 
Depreciation and Amortization Expenses
Electronic Systems$3,575 $3,567 $10,869 $10,626 
Structural Systems4,849 4,852 14,058 13,619 
Corporate Administration107 59 202 176 
Total Depreciation and Amortization Expenses$8,531 $8,478 $25,129 $24,421 
Capital Expenditures
Electronic Systems$1,011 $978 $2,950 $4,752 
Structural Systems1,295 3,802 4,172 11,043 
Corporate Administration — — 3,024 — 
Total Capital Expenditures$2,306 $4,780 $10,146 $15,795 
(1)The results for the three months and nine months ended September 28, 2024 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)
 September 28,
2024
December 31,
2023
Total Assets
Electronic Systems$516,562 $505,371 
Structural Systems (1)
549,065 552,641 
Corporate Administration (2)
64,290 62,907 
Total Assets$1,129,917 $1,120,919 
Goodwill and Intangibles
Electronic Systems$166,247 $173,214 
Structural Systems (1)
232,132 237,729 
Total Goodwill and Intangibles$398,379 $410,943 
(1)In April 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 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.