Segment Information

6 Months Ended

Apr. 02, 2016

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Information

Segment Information

During 2015, we made a change to our segment reporting. Our Components segment now includes our sensors and handpieces product line, which we previously included in the Medical Devices segment. This product line consists of manufactured ultrasonic and optical sensors as well as surgical handpieces distributed to medical OEMs. Since the customer base is different from the sale of medical pumps directly to end users, the chief operating decision maker is now reviewing performance and assessing the allocation of resources of this product line as part of the Components segment. All historical amounts have been restated to conform to this new organization.

Below are sales and operating profit by segment for the three and six months endedApril 2, 2016 and April 4, 2015 and a reconciliation of segment operating profit to earnings before income taxes. Operating profit is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation expense and other corporate expenses. Cost of sales and other operating expenses are directly identifiable to the respective segment or allocated on the basis of sales, number of employees or profit.

	Three Months Ended				Six Months Ended
	April 2, 2016		April 4, 2015		April 2, 2016		April 4, 2015
Net sales:
Aircraft Controls	$	275,769	$	274,396	$	530,604	$	540,764
Space and Defense Controls	89,175		93,256		171,815		193,211
Industrial Systems	128,244		129,145		253,423		262,511
Components	93,813		115,062		173,388		222,766
Medical Devices	24,141		25,387		50,369		48,517
Net sales	$	611,142	$	637,246	$	1,179,599	$	1,267,769
Operating profit:
Aircraft Controls	$	19,042	$	22,336	$	37,173	$	46,794
Space and Defense Controls	13,357		4,909		25,173		13,635
Industrial Systems	13,270		12,685		26,903		25,904
Components	8,385		15,900		13,085		32,862
Medical Devices	2,554		716		5,833		3,052
Total operating profit	56,608		56,546		108,167		122,247
Deductions from operating profit:
Interest expense	8,935		7,669		17,257		13,037
Equity-based compensation expense	983		568		1,919		3,966
Corporate and other expenses, net	6,073		6,911		12,719		14,408
Earnings before income taxes	$	40,617	$	41,398	$	76,272	$	90,836