Segment Information

9 Months Ended

Jul. 02, 2022

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

Segment Information

Segments

Disaggregation of net sales by segment for the three and nine months ended July 2, 2022 and July 3, 2021 are as follows:

	Three Months Ended				Nine Months Ended
Market Type	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net sales:
Military	$	180,891	$	175,922	$	558,929	$	583,140
Commercial	137,126		96,209		373,673		280,126
Aircraft Controls	318,017		272,131		932,602		863,266
Space	88,338		86,031		262,995		251,679
Defense	135,306		118,856		391,854		347,538
Space and Defense Controls	223,644		204,887		654,849		599,217
Energy	31,178		30,950		94,960		87,841
Industrial Automation	111,316		112,225		323,870		318,662
Simulation and Test	25,458		24,618		77,258		64,518
Medical	63,298		62,541		184,245		194,204
Industrial Systems	231,250		230,334		680,333		665,225
Net sales	$	772,911	$	707,352	$	2,267,784	$	2,127,708

	Three Months Ended				Nine Months Ended
Customer Type	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net sales:
Commercial	$	137,126	$	96,209	$	373,673	$	280,126
U.S. Government (including OEM)	141,793		145,722		423,698		453,878
Other	39,098		30,200		135,231		129,262
Aircraft Controls	318,017		272,131		932,602		863,266
Commercial	32,001		28,947		84,878		97,100
U.S. Government (including OEM)	177,643		156,238		527,767		452,365
Other	14,000		19,702		42,204		49,752
Space and Defense Controls	223,644		204,887		654,849		599,217
Commercial	227,445		224,407		669,845		644,412
U.S. Government (including OEM)	1,596		4,496		5,535		15,245
Other	2,209		1,431		4,953		5,568
Industrial Systems	231,250		230,334		680,333		665,225
Commercial	396,572		349,563		1,128,396		1,021,638
U.S. Government (including OEM)	321,032		306,456		957,000		921,488
Other	55,307		51,333		182,388		184,582
Net sales	$	772,911	$	707,352	$	2,267,784	$	2,127,708

	Three Months Ended				Nine Months Ended
Revenue Recognition Method	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Net sales:
Over-time	$	243,428	$	221,460	$	729,797	$	693,515
Point in time	74,589		50,671		202,805		169,751
Aircraft Controls	318,017		272,131		932,602		863,266
Over-time	204,196		190,559		603,951		554,304
Point in time	19,448		14,328		50,898		44,913
Space and Defense Controls	223,644		204,887		654,849		599,217
Over-time	36,536		32,800		105,848		89,901
Point in time	194,714		197,534		574,485		575,324
Industrial Systems	231,250		230,334		680,333		665,225
Over-time	484,160		444,819		1,439,596		1,337,720
Point in time	288,751		262,533		828,188		789,988
Net sales	$	772,911	$	707,352	$	2,267,784	$	2,127,708

Operating profit is net sales less cost of sales and other operating expenses, excluding interest expense, equity-based compensation expense, non-service pension 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, manpower or profit. Operating profit by segment for the three and nine months ended July 2, 2022 and July 3, 2021 and a reconciliation of segment operating profit to earnings before income taxes are as follows:

	Three Months Ended				Nine Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Operating profit:
Aircraft Controls	$	34,453	$	20,545	$	88,809	$	70,485
Space and Defense Controls	25,368		21,339		70,742		71,037
Industrial Systems	19,484		23,004		57,398		66,715
Total operating profit	79,305		64,888		216,949		208,237
Deductions from operating profit:
Interest expense	9,131		8,239		25,376		25,288
Equity-based compensation expense	2,169		1,791		6,747		6,420
Non-service pension expense (income)	1,442		928		4,399		(3,053)
Corporate and other expenses, net	6,754		5,335		20,482		18,488
Earnings before income taxes	$	59,809	$	48,595	$	159,945	$	161,094