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Segment Information (Tables)
6 Months Ended
Apr. 01, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Sales And Operating Profit By Segment And Reconciliation Of Segment Operating Profit To Earnings Before Income Taxes
Disaggregation of net sales by segment for the three and six months ended April 1, 2023 and April 2, 2022 are as follows:
Three Months EndedSix Months Ended
Market TypeApril 1,
2023
April 2,
2022
April 1,
2023
April 2,
2022
Net sales:
Military$175,701 $192,089 $347,419 $378,038 
Commercial171,303 119,179 309,844 236,547 
Aircraft Controls347,004 311,268 657,263 614,585 
Space111,873 87,074 207,758 174,657 
Defense133,980 136,275 255,880 256,548 
Space and Defense Controls245,853 223,349 463,638 431,205 
Energy28,980 32,316 60,550 63,782 
Industrial Automation125,538 110,411 236,656 212,554 
Simulation and Test24,765 29,625 53,090 51,800 
Medical64,652 63,818 125,698 120,947 
Industrial Systems243,935 236,170 475,994 449,083 
Net sales$836,792 $770,787 $1,596,895 $1,494,873 
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 six months ended April 1, 2023 and April 2, 2022 and a reconciliation of segment operating profit to earnings before income taxes are as follows:
Three Months EndedSix Months Ended
April 1,
2023
April 2,
2022
April 1,
2023
April 2,
2022
Operating profit:
Aircraft Controls$31,862 $12,441 $61,580 $54,356 
Space and Defense Controls27,507 24,075 47,801 45,374 
Industrial Systems24,397 20,723 61,148 37,914 
Total operating profit83,766 57,239 170,529 137,644 
Deductions from operating profit:
Interest expense14,963 8,263 28,095 16,245 
Equity-based compensation expense2,791 1,920 5,765 4,578 
Non-service pension expense3,115 1,472 6,214 2,957 
Corporate and other expenses, net6,593 6,871 13,850 13,728 
Earnings before income taxes$56,304 $38,713 $116,605 $100,136 
Sales by Major Customer Type
Three Months EndedSix Months Ended
Customer TypeApril 1,
2023
April 2,
2022
April 1,
2023
April 2,
2022
Net sales:
Commercial$171,303 $119,179 $309,844 $236,547 
U.S. Government (including OEM)134,062 138,026 263,845 281,905 
Other41,639 54,063 83,574 96,133 
Aircraft Controls347,004 311,268 657,263 614,585 
Commercial29,216 28,554 53,789 52,877 
U.S. Government (including OEM)202,579 180,109 382,017 350,124 
Other14,058 14,686 27,832 28,204 
Space and Defense Controls245,853 223,349 463,638 431,205 
Commercial240,190 235,165 466,029 442,400 
U.S. Government (including OEM)838 153 2,118 3,939 
Other2,907 852 7,847 2,744 
Industrial Systems243,935 236,170 475,994 449,083 
Commercial440,709 382,898 829,662 731,824 
U.S. Government (including OEM)337,479 318,288 647,980 635,968 
Other58,604 69,601 119,253 127,081 
Net sales$836,792 $770,787 $1,596,895 $1,494,873 
Revenue Recognition Method
Three Months EndedSix Months Ended
Revenue Recognition MethodApril 1,
2023
April 2,
2022
April 1,
2023
April 2,
2022
Net sales:
Over-time$276,638 $239,720 $523,533 $486,369 
Point in time70,366 71,548 133,730 128,216 
Aircraft Controls347,004 311,268 657,263 614,585 
Over-time229,073 207,309 431,163 399,755 
Point in time16,780 16,040 32,475 31,450 
Space and Defense Controls245,853 223,349 463,638 431,205 
Over-time27,862 40,287 60,918 69,312 
Point in time216,073 195,883 415,076 379,771 
Industrial Systems243,935 236,170 475,994 449,083 
Over-time533,573 487,316 1,015,614 955,436 
Point in time303,219 283,471 581,281 539,437 
Net sales$836,792 $770,787 $1,596,895 $1,494,873