Reportable Segments (Tables)

3 Months Ended

Apr. 02, 2023

Schedule of Operating Segment Information

Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing. Inter-company revenues between our segments is not material.


	Enterprise Solutions		Industrial Automation Solutions		Total Segments

	(In thousands)
As of and for the three months ended April 2, 2023
Segment Revenues	$	275,343	$	366,446	$	641,789

Segment EBITDA	37,205		73,787		110,992
Depreciation expense	5,954		6,400		12,354
Amortization of intangibles	4,495		5,115		9,610
Amortization of software development intangible assets	—		1,452		1,452
Severance, restructuring, and acquisition integration costs	25		1,687		1,712
Adjustments related to acquisitions and divestitures	—		298		298
Segment assets	597,426		660,300		1,257,726

As of and for the three months ended April 3, 2022
Segment Revenues	$	268,430	$	341,941	$	610,371

Segment EBITDA	30,821		67,528		98,349
Depreciation expense	5,426		5,800		11,226
Amortization of intangibles	4,097		4,720		8,817
Amortization of software development intangible assets	22		985		1,007
Severance, restructuring, and acquisition integration costs	328		3,395		3,723


Segment assets	574,494		628,290		1,202,784

Schedule of Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes

The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.


	Three Months Ended
	April 2, 2023		April 3, 2022

	(In thousands)
Total Segment and Consolidated Revenues	$	641,789	$	610,371



Total Segment EBITDA	$	110,992	$	98,349


Depreciation expense	(12,354)		(11,226)
Amortization of intangibles	(9,610)		(8,817)
Severance, restructuring, and acquisition integration costs (1)	(1,712)		(3,723)
Amortization of software development intangible assets	(1,452)		(1,007)
Adjustments related to acquisitions and divestitures (2)	(298)		—
Eliminations	(29)		(55)
Consolidated operating income	85,537		73,521
Interest expense, net	(8,201)		(14,411)
Loss on debt extinguishment	—		(6,392)
Total non-operating pension benefit	488		1,200
Consolidated income from continuing operations before taxes	$	77,824	$	53,918

(1) Severance, restructuring, and acquisition integration costs for the three months ended April 2, 2023 and April 3, 2022 primarily related to our Acquisition Integration program. See Note 10.

(2) During the three months ended April 2, 2023, we incurred $0.3 million for fair value adjustments of acquired investments.