Segment and Geographic Information (Tables)

6 Months Ended

Jun. 28, 2019

Segment Reporting [Abstract]

Summarized Financial Information by Business Segment

Summarized financial information by business segment is as follows:

	For the Three Months Ended						For the Six Months Ended
In thousands	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
Net sales:
Aerospace	$	174,712		$	178,606		$	341,146		$	358,001
Operating income:
Aerospace	$	24,598		$	22,741		$	51,210		$	45,403
Net gain on sale of assets	—			1,528			65			1,589
Corporate expense(1)	(14,023		)	(17,043		)	(28,331		)	(31,150		)
Operating income	10,575			7,226			22,944			15,842
Interest expense, net	5,236			5,000			10,537			10,323
Non-service pension and post retirement benefit income	(100		)	(3,039		)	(199		)	(6,068		)
Other (income) expense, net	(463		)	364			(552		)	22
Earnings before income taxes	5,902			4,901			13,158			11,565
Income tax (benefit) expense	(487		)	123			947			1,817
Earnings from continuing operations	6,389			4,778			12,211			9,748
Earnings from discontinued operations, net of tax(2)	7,077			10,316			15,380			19,412
Net earnings	$	13,466		$	15,094		$	27,591		$	29,160

⁽¹⁾ Certain expenses previously included in corporate expense were reclassified to earnings from discontinued operations on the Company's Condensed Consolidated Statement of Operations as a result of the Company's agreement to sell the Distribution segment.

⁽²⁾ Earnings of the Distribution segment were included in earnings from discontinued operations, net of tax on the Company's Condensed Consolidated Statement of Operations. See Note 4, Discontinued Operations, for further information on the Company's agreement to sell the Distribution segment.

Disaggregation of Revenue

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				For the Six Months Ended
In thousands	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
Revenue recognized for performance obligations satisfied:
Over time	50	%	48	%	47	%	50	%
Point-in-time	50	%	52	%	53	%	50	%
Total revenue	100	%	100	%	100	%	100	%

The following table disaggregates total revenue by major product line.

	For the Three Months Ended				For the Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
In thousands
Aerospace
Military and Defense, excluding fuzes	$	46,758	$	51,743	$	82,400	$	99,499
Missile and Bomb Fuzes	39,113		41,601		96,707		94,586
Commercial Aerospace and Other	88,841		85,262		162,039		163,916
Total Sales(1)(2)	$	174,712	$	178,606	$	341,146	$	358,001

⁽¹⁾ Service revenue was not material for the three-month and six-month fiscal periods ended June 28, 2019 and June 29, 2018.

⁽²⁾ Sales of the Distribution segment were included in earnings from discontinued operations, net of tax on the Company's Condensed Consolidated Statement of Operations. See Note 4, Discontinued Operations, for further information on the Company's agreement to sell the Distribution segment.