Segment and Geographic Information

3 Months Ended

Apr. 01, 2016

Segment Reporting [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

The Company is organized based upon the nature of its products and services, and is composed of two operating segments each overseen by a segment manager.  These segments are reflective of how the Company’s Chief Executive Officer, who is its Chief Operating Decision Maker (“CODM”), reviews operating results for the purposes of allocating resources and assessing performance. The Company has not aggregated operating segments for purposes of identifying reportable segments.

The Distribution segment is a leading power transmission, motion control, and fluid power industrial distributor with operations throughout the United States. Distribution conducts business in the mechanical power transmission and bearings, electrical, automation and control, and fluid power product platforms and provides total solutions from system design and integration to machine parts and value-added services to the manufacturing industry.

The Aerospace segment produces and/or markets widely used proprietary aircraft bearings and components; super precision miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of the Company's SH-2G Super Seasprite maritime helicopters; manufacture and support of the Company's K-MAX® medium-to-heavy lift helicopters aircraft; and engineering services.

Summarized financial information by business segment is as follows:

	For the Three Months Ended
In thousands	April 1, 2016			April 3, 2015
Net sales:
Distribution	$	288,664		$	311,471
Aerospace	162,534			131,311
Net sales	$	451,198		$	442,782
Operating income:
Distribution	$	10,469		$	12,964
Aerospace	21,297			21,821
Net gain/(loss) on sale of assets	28			(27		)
Corporate expense	(13,444		)	(12,428		)
Operating income	18,350			22,330
Interest expense, net	3,807			3,327
Other expense (income), net	86			(64		)
Earnings before income taxes	14,457			19,067
Income tax expense	4,680			6,318
Net earnings	$	9,777		$	12,749