Operating Segments and Related Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Selected Financial Information for Each Reportable Segment

The following table presents selected financial information for each reportable segment:

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
	(In millions)
Net Sales:
Aerospace and Defense	$	527.1	$	480.0	$	1,513.4	$	1,453.1
Real Estate	0.6		1.8		2.8		5.4
Total Net Sales	$	527.7	$	481.8	$	1,516.2	$	1,458.5
Segment Performance:
Aerospace and Defense	$	61.5	$	59.2	$	184.4	$	201.2
Environmental remediation provision adjustments	(1.6)		(0.8)		(1.7)		(1.5)
GAAP/Cost Accounting Standards retirement benefits expense difference	1.8		6.6		11.1		17.5
Unusual items	—		—		(1.8)		(0.3)
Aerospace and Defense Total	61.7		65.0		192.0		216.9
Real Estate	(0.4)		0.4		(1.4)		1.5
Total Segment Performance	$	61.3	$	65.4	$	190.6	$	218.4
Reconciliation of segment performance to income before income taxes:
Segment performance	$	61.3	$	65.4	$	190.6	$	218.4
Interest expense	(7.2)		(9.0)		(23.0)		(27.2)
Interest income	0.5		3.9		4.7		11.9
Stock-based compensation	(5.5)		(9.0)		(13.2)		(24.5)
Corporate retirement benefits	(1.8)		(1.8)		(5.6)		(5.4)
Corporate and other	(6.6)		(6.0)		(16.6)		(18.5)
Income before income taxes	$	40.7	$	43.5	$	136.9	$	154.7

Summary of Customers that Represented More than 10% of Net Sales

The following table summarizes customers that represented more than 10% of net sales:

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Lockheed Martin Corporation	35	%	34	%	34	%	32	%
NASA	21		22		22		21
Raytheon Technologies Corporation	15		15		16		17
United Launch Alliance	*		10		*		11

______

* Less than 10%.