Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 29, 2019

Quarterly Financial Information Disclosure [Abstract]


Fiscal Year 2019 (a) (in millions, except per-share amounts)	1^st Quarter		2^nd Quarter		3^rd Quarter		4^th Quarter
Net Sales	$	745.2	$	782.0	$	802.2	$	834.2
Costs and expenses
Cost of sales	463.9		463.6		487.7		505.1
Selling, general and administrative expenses	184.0		186.5		185.8		195.3
Total costs and expenses	647.9		650.1		673.5		700.4
Operating income	97.3		131.9		128.7		133.8
Interest and debt expense, net	(5.4)		(5.4)		(5.5)		(4.7)
Non-service retirement benefit income	2.2		2.0		1.9		1.9
Other expense, net	(1.2)		(0.6)		(1.7)		(1.5)
Income before income taxes	92.9		127.9		123.4		129.5
Provision for income taxes (b)	17.6		23.3		16.7		13.8

Net income	$	75.3	$	104.6	$	106.7	$	115.7

Basic earnings per common share	$	2.09	$	2.89	$	2.93	$	3.17

Diluted earnings per common share	$	2.02	$	2.80	$	2.84	$	3.06

a) Fiscal year 2019 was a 52-week fiscal-year, each quarter contained 13 weeks.

b) Includes $3.1 million in net discrete income tax benefits in the first quarter, $4.3 million in net discrete income tax benefits in the second quarter, $10.4 million in net discrete income tax benefits the third quarter and $8.3 million in net discrete income tax benefits in the fourth quarter.


Fiscal Year 2019 (in millions)	1^st Quarter		2^nd Quarter		3^rd Quarter		4^th Quarter
Net Sales:
Instrumentation	$	256.5	$	264.1	$	282.9	$	301.6
Digital Imaging	232.4		248.4		244.0		268.1
Aerospace and Defense Electronics	166.6		176.0		177.1		170.4
Engineered Systems	89.7		93.5		98.2		94.1
Total net sales	$	745.2	$	782.0	$	802.2	$	834.2

Operating income:
Instrumentation	$	39.9	$	49.0	$	52.0	$	59.5
Digital Imaging	36.6		51.6		41.2		47.1
Aerospace and Defense Electronics	32.5		38.6		39.5		32.8
Engineered Systems	6.4		9.0		10.6		10.5
Corporate expense	(18.1)		(16.3)		(14.6)		(16.1)
Total operating income	$	97.3	$	131.9	$	128.7	$	133.8


Fiscal Year 2018 (a) (in millions, except per-share amounts)	1^st Quarter		2^nd Quarter		3^rd Quarter		4^th Quarter
Net Sales	$	695.6	$	732.5	$	725.3	$	748.4
Costs and expenses
Cost of sales	438.2		447.0		446.2		459.6
Selling, general and administrative expenses	169.0		174.0		173.6		177.6
Total costs and expenses	607.2		621.0		619.8		637.2
Operating income	88.4		111.5		105.5		111.2
Interest and debt expense, net	(7.1)		(6.7)		(6.0)		(5.7)
Non-service retirement benefit income	3.4		3.3		3.4		3.4
Other expense, net	(2.5)		(3.7)		(2.7)		(1.8)
Income before income taxes	82.2		104.4		100.2		107.1
Provision for income taxes (b)	15.7		18.5		9.9		16.0


Net income	$	66.5	$	85.9	$	90.3	$	91.1

Basic earnings per common share	$	1.87	$	2.40	$	2.52	$	2.53

Diluted earnings per common share	$	1.81	$	2.32	$	2.43	$	2.45

a) Fiscal year 2018 was a 52-week fiscal-year, each quarter contained 13 weeks.

b) Includes $2.1 million in net discrete income tax benefits in the first quarter, $3.4 million in net discrete income tax benefits in the second quarter, $11.4 million in net discrete income tax benefits the third quarter and $6.9 million in net discrete income tax benefits in the fourth quarter.


Fiscal Year 2018 (in millions)	1^st Quarter		2^nd Quarter		3^rd Quarter		4^th Quarter
Net Sales:
Instrumentation	$	239.0	$	262.6	$	256.2	$	263.4
Digital Imaging	208.3		223.0		220.7		223.3
Aerospace and Defense Electronics	156.4		157.5		160.3		166.0
Engineered Systems	91.9		89.4		88.1		95.7
Total net sales	$	695.6	$	732.5	$	725.3	$	748.4

Operating income:
Instrumentation	$	27.8	$	40.9	$	35.7	$	43.0
Digital Imaging	33.8		43.1		42.3		36.3
Aerospace and Defense Electronics	30.8		32.6		33.0		35.4
Engineered Systems	8.9		8.7		9.6		10.7
Corporate expense	(12.9)		(13.8)		(15.1)		(14.2)
Total operating income	$	88.4	$	111.5	$	105.5	$	111.2

(a) The 2018 periods have been adjusted to reflect the realignment, in the third quarter of 2019, of the reporting structure for certain business units, primarily related to certain refinements of our management reporting structure. This change primarily related to moving certain electronic manufacturing services products from the Aerospace and Defense Electronics segment to the Engineered Systems segment. Other immaterial changes included moving certain United Kingdom (U.K.) microwave product lines (previously within the Digital Imaging segment) and certain U.K. manufactured composite parts (previously within the Engineered Systems segment) into the Aerospace and Defense Electronics segment.