Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.20.2
Segment Information (Tables)
9 Months Ended
Sep. 26, 2020
Segment Reporting [Abstract]  
Summary of Segment Reporting Information
Below are the sales and operating profit by segment for the three and nine months ended September 26, 2020 and September 28, 2019 and a reconciliation of segment operating profit to income before income taxes. Operating profit is net sales less cost of products sold and other operating expenses excluding interest and corporate expenses. Cost of products sold and other operating expenses are directly identifiable to the respective segment. 
Nine Months Ended Three Months Ended
(In thousands) September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019
Sales
Aerospace $ 326,282  $ 520,495  $ 82,548  $ 157,702 
Less Intersegment Sales (91) (5) —  — 
Total Aerospace Sales 326,191  520,490  82,548  157,702 
Test Systems 62,391  53,995  24,406  19,346 
Less Intersegment Sales (798) (195) (448) (30)
Total Test Systems Sales 61,593  53,800  23,958  19,316 
Total Consolidated Sales $ 387,784  $ 574,290  $ 106,506  $ 177,018 
Segment Measure of Operating (Loss) Profit and Margins
Aerospace
$ (86,567) $ 48,949  $ (6,332) $ 8,789 
(26.5) % 9.4  % (7.7) % 5.6  %
Test Systems
4,270  4,166  936  2,075 
6.9  % 7.7  % 3.9  % 10.7  %
Total Segment Measure of Operating (Loss) Profit (82,297) 53,115  (5,396) 10,864 
(21.2) % 9.2  % (5.1) % 6.1  %
Additions/Deductions from Segment Measure of Operating (Loss) Profit
Net (Gain) Loss on Sale of Businesses —  (78,801) —  1,332 
Interest Expense, Net of Interest Income
5,091  4,576  1,775  1,547 
Corporate Expenses and Other
17,481  15,755  3,970  6,225 
(Loss) Income Before Income Taxes $ (104,869) $ 111,585  $ (11,141) $ 1,760 
Total Assets: 
(In thousands)
September 26, 2020 December 31, 2019
Aerospace
$ 490,927  $ 629,371 
Test Systems
102,087  110,994 
Corporate
44,447  42,351 
Total Assets
$ 637,461  $ 782,716