Segment Information

6 Months Ended

Mar. 30, 2024

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

Segment Information

Segments

Disaggregation of net sales by segment for the three and six months ended March 30, 2024 and April 1, 2023 are as follows:

	Three Months Ended				Six Months Ended
Market Type	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Net sales:
Space	$	113,697	$	111,873	$	213,307	$	207,758
Defense	153,090		133,980		283,608		255,880
Space and Defense	266,787		245,853		496,915		463,638
Original Equipment Manufacturers	153,611		138,701		294,982		271,469
Aftermarket	48,889		44,052		93,762		89,084
Military Aircraft	202,500		182,753		388,744		360,553
Original Equipment Manufacturers	140,281		110,986		269,983		191,661
Aftermarket	67,313		53,265		131,833		105,049
Commercial Aircraft	207,594		164,251		401,816		296,710
Energy	34,504		28,980		67,274		60,550
Industrial Automation	115,959		125,538		232,374		236,656
Simulation and Test	38,053		24,765		75,558		53,090
Medical	64,906		64,652		124,472		125,698
Industrial	253,422		243,935		499,678		475,994
Net sales	$	930,303	$	836,792	$	1,787,153	$	1,596,895

	Three Months Ended				Six Months Ended
Customer Type	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Net sales:
Commercial	$	45,033	$	29,216	$	79,337	$	53,789
U.S. Government (including OEM)	198,223		202,579		374,625		382,017
Other	23,531		14,058		42,953		27,832
Space and Defense	266,787		245,853		496,915		463,638
U.S. Government (including OEM)	140,446		134,062		275,611		263,844
Other	62,054		48,691		113,133		96,709
Military Aircraft (1)	202,500		182,753		388,744		360,553
Commercial	200,553		164,251		385,228		293,257
Other	7,041		—		16,588		3,453
Commercial Aircraft (1)	207,594		164,251		401,816		296,710
Commercial	249,808		240,190		492,194		466,029
U.S. Government (including OEM)	2,084		838		4,924		2,118
Other	1,530		2,907		2,560		7,847
Industrial	253,422		243,935		499,678		475,994
Commercial	495,394		433,657		956,759		813,075
U.S. Government (including OEM)	340,753		337,479		655,160		647,979
Other	94,156		65,656		175,234		135,841
Net sales	$	930,303	$	836,792	$	1,787,153	$	1,596,895

(1) Prior period amounts have been recast to conform with the current presentation of certain customers between Commercial and Other as a result of the separation of our former Aircraft Controls segment into Military Aircraft and Commercial Aircraft.

	Three Months Ended				Six Months Ended
Revenue Recognition Method	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Net sales:
Over-time	$	242,631	$	229,073	$	452,826	$	431,163
Point in time	24,156		16,780		44,089		32,475
Space and Defense	266,787		245,853		496,915		463,638
Over-time	161,959		149,795		313,915		293,085
Point in time	40,541		32,958		74,829		67,468
Military Aircraft	202,500		182,753		388,744		360,553
Over-time	157,107		126,680		300,010		230,246
Point in time	50,487		37,571		101,806		66,464
Commercial Aircraft	207,594		164,251		401,816		296,710
Over-time	34,761		27,862		66,511		60,918
Point in time	218,661		216,073		433,167		415,076
Industrial	253,422		243,935		499,678		475,994
Over-time	596,458		533,410		1,133,262		1,015,412
Point in time	333,845		303,382		653,891		581,483
Net sales	$	930,303	$	836,792	$	1,787,153	$	1,596,895

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, headcount or profit. Operating profit by segment for the three and six months ended March 30, 2024 and April 1, 2023 and a reconciliation of segment operating profit to earnings before income taxes are as follows:

	Three Months Ended				Six Months Ended
	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Operating profit:
Space and Defense	$	42,243	$	27,507	$	67,540	$	47,801
Military Aircraft	16,769		16,181		36,358		31,382
Commercial Aircraft	24,845		15,681		45,471		30,198
Industrial	28,155		24,397		57,179		61,148
Total operating profit	112,012		83,766		206,548		170,529
Deductions from operating profit:
Interest expense	18,003		14,963		34,697		28,095
Equity-based compensation expense	3,047		2,791		7,212		5,765
Non-service pension expense	3,191		3,115		6,378		6,214
Corporate and other expenses, net	9,022		6,593		16,901		13,850
Earnings before income taxes	$	78,749	$	56,304	$	141,360	$	116,605

Effective October 1, 2023, we made changes to our segment reporting structure that resulted in four reporting segments. Our former Aircraft Controls segment has been separated into Military Aircraft and Commercial Aircraft. All amounts in the preceding tables have been restated to reflect this change. Segment assets for Military and Commercial Aircraft were approximately $874,000 and $809,000, respectively as of September 30, 2023.