Segment Information (Tables)

9 Months Ended

Oct. 01, 2023

Segment Reporting [Abstract]

Schedule of Operating Segment Information

Segment information for the three and nine months ended October 1, 2023 and October 2, 2022, is presented in the following table:

	Three Months Ended				Nine Months Ended
	October 1, 2023		October 2, 2022		October 1, 2023		October 2, 2022
	(in thousands)
Net sales
AMS	$	178,194	$	194,449	$	548,716	$	557,768
EAAA	132,812		133,308		387,664		404,596
Total net sales	$	311,006	$	327,757	$	936,380	$	962,364
Segment AOI
AMS	$	23,318	$	24,975	$	58,621	$	74,502
EAAA	9,049		6,273		16,805		25,908
Depreciation and amortization
AMS	$	4,640	$	4,344	$	13,457	$	12,585
EAAA	5,805		5,481		17,134		18,076
Total depreciation and amortization	$	10,445	$	9,825	$	30,591	$	30,661

Reconciliation of Assets from Segment to Consolidated

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

	October 1, 2023		January 1, 2023
	(in thousands)
Assets
AMS	$	587,424	$	588,110
EAAA	637,825		652,921
Total segment assets	1,225,249		1,241,031
Corporate assets	101,224		110,495
Eliminations	(124,832)		(85,023)
Total reported assets	$	1,201,641	$	1,266,503

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				Nine Months Ended
	October 1, 2023		October 2, 2022		October 1, 2023		October 2, 2022
	(in thousands)
AMS operating income	$	23,530	$	24,955	$	56,997	$	74,618
EAAA operating income	7,455		3,087		12,373		15,369
Consolidated operating income	30,985		28,042		69,370		89,987
Interest expense	8,163		7,747		24,986		21,787
Other expense, net	6,702		124		7,674		1,688
Income before income tax expense	$	16,120	$	20,171	$	36,710	$	66,512

	Three Months Ended October 1, 2023				Three Months Ended October 2, 2022
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	23,530	$	7,455	$	24,955	$	3,087
Purchase accounting amortization	—		1,302		—		1,204
Thailand plant closure inventory write-down	—		—		—		477
Cyber Event impact	62		42		—		—
Restructuring, asset impairment, severance, and other, net	(274)		250		20		1,505
AOI	$	23,318	$	9,049	$	24,975	$	6,273

	Nine Months Ended October 1, 2023				Nine Months Ended October 2, 2022
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	56,997	$	12,373	$	74,618	$	15,369
Purchase accounting amortization	—		3,886		—		3,817
Thailand plant closure inventory write-down	—		—		—		2,530
Cyber Event impact	554		415		—		—
Restructuring, asset impairment, severance, and other, net	1,070		131		(116)		4,192
AOI	$	58,621	$	16,805	$	74,502	$	25,908