Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

v3.25.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Schedule of financial information by reportable segment The following tables set forth our segment information of revenue, significant segment expenses, and operating income from operations for the periods ended March 29, 2025 and March 30, 2024:

 

 

Three Months Ended March 29, 2025

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated expenses

 

 

Total

 

Net sales from external customers

 

$

126.4

 

 

$

69.1

 

 

$

-

 

 

$

195.5

 

Reportable segment total cost of sales

 

 

89.0

 

 

 

46.6

 

 

 

-

 

 

 

135.6

 

Reportable segment gross profit

 

$

37.4

 

 

$

22.5

 

 

$

-

 

 

$

59.9

 

Selling, engineering and administrative expenses (a)

 

$

14.8

 

 

$

10.1

 

 

$

-

 

 

$

24.9

 

Research and development (b)

 

 

2.1

 

 

 

2.8

 

 

 

-

 

 

 

4.9

 

Indirect expenses (c)

 

 

3.1

 

 

 

1.6

 

 

 

0.1

 

 

 

4.8

 

Amortization of intangible assets (d)

 

 

-

 

 

 

-

 

 

 

8.3

 

 

 

8.3

 

Operating income

 

$

17.4

 

 

$

8.0

 

 

$

(8.4

)

 

$

17.0

 

(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments.

(b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use.

(c) Indirect expenses represent corporate costs and shared expenses allocated to businesses.

(d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.

 

 

 

Three Months Ended March 30, 2024

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated expenses

 

 

Total

 

Net sales from external customers

 

$

142.4

 

 

$

69.6

 

 

$

-

 

 

$

212.0

 

Reportable segment total cost of sales

 

 

97.9

 

 

 

46.9

 

 

 

-

 

 

 

144.8

 

Reportable segment gross profit

 

$

44.5

 

 

$

22.7

 

 

$

-

 

 

$

67.2

 

Selling, engineering and administrative expenses (a)

 

$

15.3

 

 

$

10.0

 

 

$

-

 

 

$

25.3

 

Research and development (b)

 

 

2.1

 

 

 

3.1

 

 

 

-

 

 

 

5.2

 

Indirect expenses (c)

 

 

5.3

 

 

 

2.5

 

 

 

0.7

 

 

 

8.5

 

Amortization of intangible assets (d)

 

 

-

 

 

 

-

 

 

 

7.9

 

 

 

7.9

 

Operating income

 

$

21.8

 

 

$

7.1

 

 

$

(8.6

)

 

$

20.3

 

(a) Selling, engineering, and administrative expenses primarily include selling, general, and administrative costs, information technology, professional services, and facility-related expenses directly incurred by the segments.

(b) Research and development primarily includes engineering-related costs to create new products and to make improvements to products currently in use.

(c) Indirect expenses represent corporate costs and shared expenses allocated to businesses.

(d) Amortization of intangible assets includes those resulting from the acquisition of new businesses.

 

 

 

 

Three Months Ended

 

 

 

March 29, 2025

 

 

March 30, 2024

 

Capital expenditures

 

 

 

 

 

 

Hydraulics

 

$

4.5

 

 

$

3.2

 

Electronics

 

 

1.6

 

 

 

2.3

 

Total

 

$

6.1

 

 

$

5.5

 

Depreciation and amortization

 

 

 

 

 

 

Hydraulics

 

$

5.4

 

 

$

5.7

 

Electronics

 

 

2.3

 

 

 

2.1

 

Corporate and Other

 

 

8.3

 

 

 

8.0

 

Total

 

$

16.0

 

 

$

15.8

 

 

 

 

March 29, 2025

 

 

December 28, 2024

 

Goodwill

 

 

 

 

 

 

Hydraulics

 

$

296.6

 

 

$

287.1

 

Electronics

 

 

211.8

 

 

 

211.8

 

Total

 

$

508.4

 

 

$

498.9

 

Total assets

 

 

 

 

 

 

Hydraulics

 

$

946.1

 

 

$

926.6

 

Electronics

 

 

573.6

 

 

 

572.4

 

Corporate and Other

 

 

6.6

 

 

 

6.4

 

Total

 

$

1,526.3

 

 

$

1,505.4

 

 
Schedule of geographic region information Tangible long-lived assets are shown based on the physical location of the assets and primarily include net property, plant and equipment and exclude right of use assets. The following table presents financial information by region:

 

 

 

Three Months Ended

 

 

 

March 29, 2025

 

 

March 30, 2024

 

Net sales

 

 

 

 

 

 

Americas

 

$

106.6

 

 

$

113.9

 

EMEA

 

 

44.1

 

 

 

52.0

 

APAC

 

 

44.8

 

 

 

46.1

 

Total

 

$

195.5

 

 

$

212.0

 

 

 

 

March 29, 2025

 

 

December 28, 2024

 

Tangible long-lived assets

 

 

 

 

 

 

Americas

 

$

136.3

 

 

$

139.1

 

EMEA

 

 

39.0

 

 

 

36.5

 

APAC

 

 

18.5

 

 

 

17.9

 

Total

 

$

193.8

 

 

$

193.5