Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Operating Segment Information

Segment information for the three and six months ended June 30, 2024 and July 2, 2023 is presented in the following table:

	Three Months Ended				Six Months Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
	(in thousands)
Net sales
AMS	$	215,012	$	201,281	$	384,927	$	370,522
EAAA	131,623		128,301		251,451		254,852
Total net sales	$	346,635	$	329,582	$	636,378	$	625,374
Segment AOI
AMS	$	26,947	$	24,034	$	45,027	$	35,303
EAAA	12,658		3,827		20,103		7,756
Depreciation and amortization
AMS	$	4,446	$	4,424	$	8,799	$	8,817
EAAA	5,282		5,731		10,545		11,329
Total depreciation and amortization	$	9,728	$	10,155	$	19,344	$	20,146

Reconciliation of Assets from Segment to Consolidated

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

	June 30, 2024		December 31, 2023
	(in thousands)
Assets
AMS	$	581,835	$	627,782
EAAA	618,901		630,939
Total segment assets	1,200,736		1,258,721
Corporate assets	109,939		108,673
Eliminations	(94,558)		(137,299)
Total reported assets	$	1,216,117	$	1,230,095

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
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
	(in thousands)
AMS operating income	$	26,804	$	24,752	$	44,999	$	33,467
EAAA operating income	11,347		4,156		17,598		4,918
Consolidated operating income	38,151		28,908		62,597		38,385
Interest expense	6,173		8,318		12,596		16,823
Other expense (income), net	832		(528)		(144)		972
Income before income tax expense	$	31,146	$	21,118	$	50,145	$	20,590

	Three Months Ended June 30, 2024				Three Months Ended July 2, 2023
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	26,804	$	11,347	$	24,752	$	4,156
Purchase accounting amortization	—		1,287		—		1,301
Cyber Event impact	21		14		264		173
Property casualty loss(1)	—		—		(1,300)		—
Restructuring, asset impairment, severance, and other, net	122		10		318		(1,803)
AOI	$	26,947	$	12,658	$	24,034	$	3,827

(1) Represents insurance recovery of loss recognized in the first quarter of 2023.

	Six Months Ended June 30, 2024				Six Months Ended July 2, 2023
	AMS		EAAA		AMS		EAAA
	(in thousands)
Operating income	$	44,999	$	17,598	$	33,467	$	4,918
Purchase accounting amortization	—		2,584		—		2,584
Cyber Event impact	(225)		(156)		492		373
Restructuring, asset impairment, severance, and other, net	253		77		1,344		(119)
AOI	$	45,027	$	20,103	$	35,303	$	7,756