Segment Information (Tables)

6 Months Ended

Jul. 03, 2022

Segment Reporting [Abstract]

Schedule of Operating Segment Information

Segment information for the three and six months ended July 3, 2022 and July 4, 2021 is presented in the following table:

	Three Months Ended				Six Months Ended
	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
	(in thousands)
Net sales
AMS	$	206,810	$	156,665	$	363,319	$	283,632
EAAA	139,795		138,120		271,288		264,413
Total net sales	$	346,605	$	294,785	$	634,607	$	548,045
Segment AOI
AMS	$	28,389	$	21,098	$	49,527	$	33,011
EAAA	10,131		9,960		19,635		17,971
Depreciation and amortization
AMS	$	4,183	$	4,504	$	8,241	$	9,227
EAAA	5,983		7,232		12,595		14,443
Total depreciation and amortization	$	10,166	$	11,736	$	20,836	$	23,670

Reconciliation of Assets from Segment to Consolidated

A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:

	July 3, 2022		January 2, 2022
	(in thousands)
Assets
AMS	$	563,895	$	652,423
EAAA	674,175		691,844
Total segment assets	1,238,070		1,344,267
Corporate assets	127,056		146,204
Eliminations	(51,679)		(160,414)
Total reported assets	$	1,313,447	$	1,330,057

Reconciliation of Operating Income to Income Before Income Tax Expense and Segment AOI

Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows:

	Three Months Ended				Six Months Ended
	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
	(in thousands)
AMS operating income	$	28,413	$	21,101	$	49,663	$	32,748
EAAA operating income	6,112		8,123		12,282		13,342
Consolidated operating income	34,525		29,224		61,945		46,090
Interest expense	7,190		7,289		14,040		14,545
Other expense, net	1,394		617		1,564		1,332
Income before income tax expense	$	25,941	$	21,318	$	46,341	$	30,213

	Three Months Ended July 3, 2022				Three Months Ended July 4, 2021
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	28,413	$	6,112	$	21,101	$	8,123
Purchase accounting amortization	—		1,271		—		1,441
Thailand plant closure inventory write-down	—		938		—		—
Restructuring, asset impairment, severance and other charges	(24)		1,810		(3)		396
AOI	$	28,389	$	10,131	$	21,098	$	9,960

	Six Months Ended July 3, 2022				Six Months Ended July 4, 2021
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	49,663	$	12,282	$	32,748	$	13,342
Purchase accounting amortization	—		2,613		—		2,862
Thailand plant closure inventory write-down	—		2,053		—		—
Restructuring, asset impairment, severance and other charges	(136)		2,687		263		1,767
AOI	$	49,527	$	19,635	$	33,011	$	17,971