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Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2023

Reconciliation of Revenue from Segments to Consolidated

Summarized financial information by business segment is as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
In thousands
Net sales:
Engineered Products	$	133,513	$	89,765	$	256,839	$	171,217
Precision Products	28,059		41,267		66,030		88,816
Structures	33,586		29,734		66,831		58,781
Net sales	$	195,158	$	160,766	$	389,700	$	318,814
Operating income (loss):
Engineered Products	$	30,542	$	15,467	$	49,898	$	26,509
Precision Products	(1,884)		2,214		(755)		5,429
Structures	(106)		(862)		(749)		(1,479)
Corporate expense	(9,665)		(11,984)		(19,671)		(22,532)
Other unallocated expenses, net(1)	(1,317)		(2,923)		(3,476)		(3,152)
Operating income	$	17,570	$	1,912	$	25,247	$	4,775
Interest expense, net	10,340		1,993		19,944		4,474
Non-service pension and post retirement benefit income, net	(239)		(5,024)		(620)		(10,287)
Other expense (income), net	99		690		(472)		1,194
Earnings before income taxes	$	7,370	$	4,253	$	6,395	$	9,394

(1) Other unallocated expenses, net include program inventory impairment, restructuring and severance costs and net loss (gain) on disposition of assets.

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

The following tables disaggregate segment revenue by major product line:


	For the Three Months Ended
	June 30, 2023
	Engineered Products		Precision Products		Structures		Total
In thousands
Defense	$	18,480	$	7,375	$	19,332	$	45,187
Safe and Arm Devices	—		10,354		—		10,354
Commercial, Business & General Aviation	69,236		9,076		12,354		90,666
Medical	25,523		—		1,900		27,423
Industrial & Other	20,274		1,254		—		21,528
Total revenue	$	133,513	$	28,059	$	33,586	$	195,158

	For the Three Months Ended
	July 1, 2022
	Engineered Products		Precision Products		Structures		Total
In thousands
Defense	$	9,342	$	6,629	$	16,098	$	32,069
Safe and Arm Devices	—		21,563		—		21,563
Commercial, Business & General Aviation	37,644		11,895		11,319		60,858
Medical	22,683		—		2,317		25,000
Industrial & Other	20,096		1,180		—		21,276
Total revenue	$	89,765	$	41,267	$	29,734	$	160,766


	For the Six Months Ended
	June 30, 2023
	Engineered Products		Precision Products		Structures		Total
In thousands
Defense	$	38,503	$	12,961	$	38,137	$	89,601
Safe and Arm Devices	—		36,596		—		36,596
Commercial, Business & General Aviation	128,921		14,089		24,858		167,868
Medical	50,458		—		3,836		54,294
Industrial & Other	38,957		2,384		—		41,341
Total revenue	$	256,839	$	66,030	$	66,831	$	389,700

	For the Six Months Ended
	July 1, 2022
	Engineered Products		Precision Products		Structures		Total
In thousands
Defense	$	18,995	$	11,951	$	32,353	$	63,299
Safe and Arm Devices	—		58,885		—		58,885
Commercial, Business & General Aviation	70,022		15,662		22,132		107,816
Medical	43,832		—		4,296		48,128
Industrial & Other	38,368		2,318		—		40,686
Total revenue	$	171,217	$	88,816	$	58,781	$	318,814

4. REVENUE AND SEGMENT INFORMATION (CONTINUED)

Disaggregation of Revenue - continued

The following table disaggregates total revenue by product types.


	For the Three Months Ended								For the Three Months Ended
	June 30, 2023								July 1, 2022
	Engineered Products		Precision Products		Structures		Total		Engineered Products		Precision Products		Structures		Total
Original Equipment Manufacturer	47	%	6	%	17	%	70	%	43	%	6	%	18	%	67	%
Aftermarket	21	%	4	%	—	%	25	%	13	%	7	%	—	%	20	%
Safe and Arm Devices	—	%	5	%	—	%	5	%	—	%	13	%	—	%	13	%
Total revenue	68	%	15	%	17	%	100	%	56	%	26	%	18	%	100	%

	For the Six Months Ended								For the Six Months Ended
	June 30, 2023								July 1, 2022
	Engineered Products		Precision Products		Structures		Total		Engineered Products		Precision Products		Structures		Total
Original Equipment Manufacturer	46	%	4	%	17	%	67	%	42	%	5	%	18	%	65	%
Aftermarket	20	%	4	%	—	%	24	%	12	%	5	%	—	%	17	%
Safe and Arm Devices	—	%	9	%	—	%	9	%	—	%	18	%	—	%	18	%
Total revenue	66	%	17	%	17	%	100	%	54	%	28	%	18	%	100	%

Research and Development

The following table presents research and development costs by segment:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
In thousands
Engineered Products	$	2,679	$	2,121	$	5,118	$	4,364
Precision Products	2,463		2,984		5,921		5,787
Structures	51		110		61		177
Total research and development costs	$	5,193	$	5,215	$	11,100	$	10,328

Schedule of Change in Accounting Estimate [Table Text Block]

Net changes in revenue associated with cost growth on the Company's over time contracts were as follows:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
In thousands
Net (decrease) increase in revenue due to change in profit estimates	$	(1,595)	$	567	$	(2,864)	$	1,472

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]

Backlog at June 30, 2023 and December 31, 2022, and the portion of backlog the Company expects to recognize revenue on over the next twelve months is as follows:


	June 30, 2023(1)		December 31, 2022
	(in thousands)
Engineered Products	$	366,426	$	322,452
Precision Products	101,941		134,903
Structures	230,440		263,581
Total Backlog	$	698,807	$	720,936

(1) The Company expects to recognize revenue on approximately 74% of backlog as of June 30, 2023 over the next twelve months.

^[1]

[1]	The Company expects to recognize revenue on approximately 74% of backlog as of June 30, 2023 over the next twelve months.