Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Operating Segment Information


	Enterprise Solutions		Industrial Automation Solutions		Total Segments

	(In thousands)
As of and for the three months ended June 30, 2024
Segment Revenues	$	270,473	$	333,863	$	604,336
Segment EBITDA	31,456		67,737		99,193
Depreciation expense	6,214		7,363		13,577
Amortization of intangibles	5,022		4,918		9,940
Amortization of software development intangible assets	—		2,464		2,464
Severance, restructuring, and acquisition integration costs	2,309		1,684		3,993
Adjustments related to acquisitions and divestitures	—		298		298
Segment assets	671,250		762,736		1,433,986





As of and for the three months ended July 2, 2023
Segment Revenues	$	312,529	$	379,716	$	692,245
Segment EBITDA	43,956		78,631		122,587
Depreciation expense	6,193		6,489		12,682
Amortization of intangibles	6,208		4,918		11,126
Amortization of software development intangible assets	—		1,820		1,820
Severance, restructuring, and acquisition integration costs	1,669		2,390		4,059
Adjustments related to acquisitions and divestitures	325		(76)		249
Segment assets	648,344		699,092		1,347,436

As of and for the six months ended June 30, 2024
Segment revenues	$	504,562	$	635,449	$	1,140,011
Segment EBITDA	57,244		126,482		183,726
Depreciation expense	12,519		14,523		27,042
Amortization of intangibles	10,741		10,008		20,749
Amortization of software development intangible assets	—		5,177		5,177
Severance, restructuring, and acquisition integration costs	3,899		4,306		8,205
Adjustments related to acquisitions and divestitures	—		596		596
Segment assets	671,250		762,736		1,433,986

As of and for the six months ended July 2, 2023
Segment Revenues	$	587,872	$	746,162	$	1,334,034
Segment EBITDA	81,161		152,418		233,579
Depreciation expense	12,147		12,889		25,036
Amortization of intangibles	10,703		10,033		20,736
Amortization of software development intangible assets	—		3,272		3,272
Severance, restructuring, and acquisition integration costs	1,694		4,077		5,771
Adjustments related to acquisitions and divestitures	325		222		547
Segment assets	648,344		699,092		1,347,436

Schedule of Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes

The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income before taxes, respectively.


	Three Months Ended				Six Months Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023

	(In thousands)
Total Segment and Consolidated Revenues	$	604,336	$	692,245	$	1,140,011	$	1,334,034



Total Segment EBITDA	$	99,193	$	122,587	$	183,726	$	233,579


Depreciation expense	(13,577)		(12,682)		(27,042)		(25,036)
Amortization of intangibles	(9,940)		(11,126)		(20,749)		(20,736)
Severance, restructuring, and acquisition integration costs (1)	(3,993)		(4,059)		(8,205)		(5,771)
Amortization of software development intangible assets	(2,464)		(1,820)		(5,177)		(3,272)
Adjustments related to acquisitions and divestitures (2)	(298)		(249)		(596)		(547)
Eliminations	(9)		(54)		(25)		(83)
Consolidated operating income	68,912		92,597		121,932		178,134
Interest expense, net	(9,017)		(8,812)		(16,599)		(17,013)

Total non-operating pension benefit	230		646		461		1,134
Consolidated income before taxes	$	60,125	$	84,431	$	105,794	$	162,255

(1) Includes restructuring and integration costs associated with acquisitions and costs associated with certain manufacturing footprint actions.

(2) Adjustments related to acquisitions and divestitures include fair value adjustments of acquired assets and gains associated with the sales of businesses.