Operating Segments and Related Disclosures (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Selected Financial Information for Each Reportable Segment

The following table presents selected financial information for each reportable segment:

	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
	(In millions)
Net Sales:
Aerospace and Defense	$	511.9		$	483.1		$	986.3		$	973.1
Real Estate	0.5			1.9			2.2			3.6
Total Net Sales	$	512.4		$	485.0		$	988.5		$	976.7
Segment Performance:
Aerospace and Defense	$	70.3		$	77.1		$	122.9		$	142.0
Environmental remediation provision adjustments	(0.6		)	(0.4		)	(0.1		)	(0.7		)
GAAP/Cost Accounting Standards retirement benefits expense difference	4.6			5.5			9.3			10.9
Unusual items	(1.8		)	—			(1.8		)	(0.3		)
Aerospace and Defense Total	72.5			82.2			130.3			151.9
Real Estate	(0.4		)	0.6			(1.0		)	1.1
Total Segment Performance	$	72.1		$	82.8		$	129.3		$	153.0
Reconciliation of segment performance to income before income taxes:
Segment performance	$	72.1		$	82.8		$	129.3		$	153.0
Interest expense	(7.4		)	(9.2		)	(15.8		)	(18.2		)
Interest income	1.0			4.0			4.2			8.0
Stock-based compensation	(5.3		)	(10.2		)	(7.7		)	(15.5		)
Corporate retirement benefits	(1.8		)	(1.8		)	(3.8		)	(3.6		)
Corporate and other	(5.1		)	(6.2		)	(10.0		)	(12.5		)
Income before income taxes	$	53.5		$	59.4		$	96.2		$	111.2

Summary of Customers that Represented More than 10% of Net Sales

The following table summarizes customers that represented more than 10% of net sales, each of which involves sales of several product lines and programs:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Lockheed Martin Corporation	32	%	30	%	33	%	30	%
NASA	23		22		23		21
Raytheon Technologies Corporation	17		20		17		19
United Launch Alliance	*		10		*		11

______

* Less than 10%.