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Revenue
 9 Months Ended
Oct. 03, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
On October 3, 2026, we had $780.0 million of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately $651.2 million of our outstanding performance obligations as revenue over the next twelve months and the balance thereafter.
The Company’s contract assets and contract liabilities consist primarily of costs and profits in excess of billings and billings in excess of cost and profits, respectively. The following table presents the beginning and ending balances of contract assets and contract liabilities:
(In thousands)Contract AssetsContract Liabilities
Beginning Balance, January 1, 2026
$54,687 $26,962 
Ending Balance, October 3, 2026
$72,214 $29,114 
The increase in contract assets reflects the net impact of new revenue recognized in excess of billings exceeding billing of previously unbilled revenue during the period. The increase in contract liabilities reflects the net impact of new customer advances or deferred revenues recorded in excess of revenue recognized.
During the three and nine months ended October 3, 2026, the Company recognized $7.1 million and $15.0 million, respectively, in revenues that were included in the contract liability balance at the beginning of the period. During the three and nine months ended September 27, 2025, the Company recognized $9.1 million and $19.1 million, respectively, in such revenues.
The Company recognizes an asset for certain, material costs to fulfill a contract if it is determined that the costs relate directly to a contract or an anticipated contract that can be specifically identified, generate or enhance resources that will be used in satisfying performance obligations in the future, and are expected to be recovered. Such costs are amortized on a systematic basis that is consistent with the transfer to the customer of the goods to which the asset relates. Start-up costs are expensed as incurred. Capitalized fulfillment costs are included in Inventories in the accompanying Consolidated Condensed Balance Sheets. Should future orders not materialize or it is determined the costs are no longer probable of recovery, the capitalized costs are written off. The Company’s capitalized fulfillment costs amounted to $9.2 million and $6.0 million on October 3, 2026 and December 31, 2025, respectively. Amortization of fulfillment costs recognized within Cost of Products Sold was insignificant for the three and nine months ended October 3, 2026 and insignificant and $3.4 million for the three and nine months ended September 27, 2025, respectively.
Beginning in the current year, the Company reorganized its product line structure to align with changes in internal reporting. Prior-period disaggregated revenue information has been recast to conform to the current‑period presentation, including all prior years presented. The Company’s updated disaggregation of revenue by product lines is consistent with the information used by the Chief Operating Decision Maker (“CODM”) to evaluate operating performance and allocate resources. There was no impact on total revenue as a result of this change. The Company’s disaggregation of revenue by market segments remains unchanged from the Company’s prior presentation.
The following table presents our revenue disaggregated by Market Segments for the periods indicated:
Nine Months EndedThree Months Ended
(In thousands)October 3, 2026September 27, 2025October 3, 2026September 27, 2025
Aerospace Segment
Commercial Transport
$525,668 $432,324 $192,243 $149,209 
Military Aircraft
93,161 88,250 29,028 27,554 
General Aviation
70,173 47,532 21,121 13,919 
Other
7,582 9,620 3,080 2,043 
Aerospace Total696,584 577,726 245,472 192,725 
Test Systems Segment
Government & Defense
65,671 44,335 26,207 18,722 
Test Systems Total65,671 44,335 26,207 18,722 
Total$762,255 $622,061 $271,679 $211,447 
The following table presents our revenue disaggregated by Product Lines for the periods indicated:
Nine Months EndedThree Months Ended
RecastRecast
(In thousands)October 3, 2026September 27, 2025October 3, 2026September 27, 2025
Aerospace Segment
Inflight Entertainment & Connectivity$367,785 $314,792 $131,029 $105,780 
Lighting & Safety173,542 160,864 61,565 52,807 
Flight Critical Electrical Power69,340 53,893 20,917 16,747 
Seat Motion66,951 28,610 24,886 11,721 
Other18,966 19,567 7,075 5,670 
Aerospace Total696,584 577,726 245,472 192,725 
Test Systems65,671 44,335 26,207 18,722 
Total$762,255 $622,061 $271,679 $211,447 
Inflight Entertainment & Connectivity (“IFEC”) is a combination of the previous Avionics and Systems Certification product lines, as well as cabin power products which were included in the previous Electrical Power & Motion product line. The remainder of the previous Electrical Power & Motion product line is now split into two discrete product lines, Flight Critical Electrical Power and Seat Motion. Lighting and Safety remains consistent and Structures is now reported within Other Aerospace revenue.
For the nine months ended October 3, 2026, revenue in the Flight Critical Electrical Power product line includes $2.6 million related to performance obligations satisfied in prior periods due to a change in estimate of variable consideration.