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Segment and Geographic Information (Tables)
 3 Months Ended
Mar. 29, 2019
Segment Reporting [Abstract]  
Summarized Financial Information by Business Segment
Summarized financial information by business segment is as follows:
 
 
For the Three Months Ended
In thousands
 
March 29,
2019

March 30,
2018
Net sales:
 
 
 
 
Distribution
 
$
290,954


$
283,932

Aerospace
 
166,434


179,395

Net sales
 
$
457,388


$
463,327

Operating income:
 
 

 
 

Distribution
 
$
12,697


$
11,834

Aerospace
 
26,612


22,662

Net gain on sale of assets
 
61


63

Corporate expense
 
(16,006
)

(13,835
)
Operating income
 
23,364


20,724

Interest expense, net
 
5,313

 
5,352

Non-service pension and post retirement benefit cost (income)
 
(99
)
 
(3,029
)
Other income, net
 
(91
)
 
(342
)
Earnings before income taxes
 
18,241

 
18,743

Income tax expense
 
4,116

 
4,677

Net earnings
 
$
14,125

 
$
14,066
Disaggregation of Revenue
The following table disaggregates total revenue by major product line.

 
 
For the Three Months Ended
 
 
March 29, 2019

March 30, 2018
In thousands
 
 
 
 
Distribution
 
 
 
 
Bearings and Power Transmission
 
$
145,967

 
$
143,385

Automation, Control and Energy
 
89,292

 
85,161

Fluid Power
 
55,695

 
55,386

Total Distribution Sales
 
$
290,954

 
$
283,932

 
 
 
 
 
Aerospace
 
 
 
 
Military and Defense, excluding fuzes
 
$
35,642

 
$
47,756

Missile and Bomb Fuzes
 
57,594

 
52,985

Commercial Aerospace and Other
 
73,198

 
78,654

Total Aerospace Sales
 
$
166,434

 
$
179,395

 
 
 
 
 
Total Sales(1)
 
$
457,388

 
$
463,327

(1) Service revenue was not material for the three-month fiscal periods ended March 29, 2019 and March 30, 2018.
The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized for performance obligations satisfied at a point in time for the Aerospace segment:
 
 
For the Three Months Ended
In thousands
 
March 29,
2019
 
March 30,
2018
Revenue recognized for performance obligations satisfied:
 
 
 
 
Over time
 
43
%
 
47
%
Point-in-time
 
57
%
 
53
%
Total revenue(1)
 
100
%
 
100
%
(1) The disaggregation of revenue recognized for performance satisfied over time versus point-in-time has not been included for the Distribution segment, as the majority of its revenue is recognized on a point-in-time basis with only approximately 3.5% and 2.0% of revenue recognized for performance obligations over time for the three-month fiscal periods ended March 29, 2019 and March 30, 2018, respectively.