Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting (Tables)

v3.25.4
Segment Reporting (Tables)
 12 Months Ended
Jan. 03, 2026
Segment Reporting [Abstract]  
Schedule of financial information by reportable segment he following tables set forth our segment information of revenue, significant segment expenses, and operating income from operations for the last three years:

 

 

 

At and for the Year Ended January 3, 2026

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated
expenses

 

 

Total

 

Net sales from external customers

 

$

540.8

 

 

$

298.2

 

 

$

—

 

 

$

839.0

 

Reportable segment total cost of sales

 

 

366.0

 

 

 

201.8

 

 

 

—

 

 

 

567.8

 

Reportable segment gross profit

 

$

174.8

 

 

$

96.4

 

 

$

—

 

 

$

271.2

 

Selling, engineering and administrative expenses (a)

 

$

60.5

 

 

$

43.5

 

 

$

—

 

 

$

104.0

 

Goodwill Impairment

 

 

—

 

 

 

25.9

 

 

 

—

 

 

 

25.9

 

Research and development (b)

 

 

9.0

 

 

 

10.1

 

 

 

—

 

 

 

19.1

 

Indirect expenses (c)

 

 

13.9

 

 

 

7.2

 

 

 

3.4

 

 

 

24.5

 

Amortization of intangible assets (d)

 

 

—

 

 

 

—

 

 

 

31.7

 

 

 

31.7

 

Operating income

 

$

91.4

 

 

$

9.7

 

 

$

(35.1

)

 

$

66.0

 

(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.

 

 

 

At and for the Year Ended December 28, 2024

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated
expenses

 

 

Total

 

Net sales from external customers

 

$

537.2

 

 

$

268.7

 

 

$

—

 

 

$

805.9

 

Reportable segment total cost of sales

 

 

371.4

 

 

 

182.2

 

 

 

—

 

 

 

553.6

 

Reportable segment gross profit

 

$

165.8

 

 

$

86.5

 

 

$

—

 

 

$

252.3

 

Selling, engineering and administrative expenses (a)

 

$

59.2

 

 

$

39.1

 

 

$

—

 

 

$

98.3

 

Research and development (b)

 

 

8.1

 

 

 

12.0

 

 

 

—

 

 

 

20.1

 

Indirect expenses (c)

 

 

12.1

 

 

 

5.8

 

 

 

2.7

 

 

 

20.6

 

Amortization of intangible assets (d)

 

 

—

 

 

 

—

 

 

 

31.5

 

 

 

31.5

 

Operating income

 

$

86.4

 

 

$

29.6

 

 

$

(34.2

)

 

$

81.8

 

(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.

 

 

 

At and for the Year Ended December 30, 2023

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated
expenses

 

 

Total

 

Net sales from external customers

 

$

565.8

 

 

$

269.8

 

 

$

—

 

 

$

835.6

 

Reportable segment total cost of sales

 

 

384.0

 

 

 

189.9

 

 

 

—

 

 

 

573.9

 

Reportable segment gross profit

 

$

181.8

 

 

$

79.9

 

 

$

—

 

 

$

261.7

 

Selling, engineering and administrative expenses (a)

 

$

63.5

 

 

$

36.4

 

 

$

—

 

 

$

99.9

 

Research and development (b)

 

 

8.7

 

 

 

10.3

 

 

 

—

 

 

 

19.0

 

Indirect expenses (c)

 

 

16.3

 

 

 

8.5

 

 

 

5.2

 

 

 

30.0

 

Amortization of intangible assets (d)

 

 

—

 

 

 

—

 

 

 

32.9

 

 

 

32.9

 

Operating income

 

$

93.3

 

 

$

24.7

 

 

$

(38.1

)

 

$

79.9

 

(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.

 

 

 

For the year ended

 

 

 

January 3, 2026

 

 

December 28, 2024

 

 

December 30, 2023

 

Capital expenditures

 

 

 

 

 

 

 

 

 

Hydraulics

 

$

19.4

 

 

$

19.2

 

 

$

25.7

 

Electronics

 

 

4.3

 

 

 

7.8

 

 

 

8.6

 

Total

 

$

23.7

 

 

$

27.0

 

 

$

34.3

 

Goodwill

 

 

 

 

 

 

 

 

 

Hydraulics

 

$

312.1

 

 

$

287.1

 

 

$

302.1

 

Electronics

 

 

186.0

 

 

 

211.8

 

 

 

211.9

 

Total

 

$

498.1

 

 

$

498.9

 

 

$

514.0

 

Total assets

 

 

 

 

 

 

 

 

 

Hydraulics

 

$

965.8

 

 

$

926.6

 

 

$

976.6

 

Electronics

 

 

538.2

 

 

 

572.4

 

 

 

600.0

 

Corporate and Other

 

 

10.5

 

 

 

6.4

 

 

 

13.8

 

Total

 

$

1,514.5

 

 

$

1,505.4

 

 

$

1,590.4

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

Hydraulics

 

$

21.6

 

 

$

22.8

 

 

$

22.0

 

Electronics

 

 

9.4

 

 

 

9.1

 

 

 

8.6

 

Corporate and Other

 

 

32.0

 

 

 

31.9

 

 

 

33.2

 

Total

 

$

63.0

 

 

$

63.8

 

 

$

63.8

 
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 ROU assets. The following table presents financial information by region:

 

 

 

2025

 

 

2024

 

 

2023

 

Net sales

 

 

 

 

 

 

 

 

 

Americas

 

$

452.2

 

 

$

435.0

 

 

$

460.9

 

EMEA

 

 

198.6

 

 

 

183.8

 

 

 

202.8

 

APAC

 

 

188.2

 

 

 

187.1

 

 

 

171.9

 

Total

 

$

839.0

 

 

$

805.9

 

 

$

835.6

 

 

 

 

 

 

 

 

 

 

Tangible long-lived assets

 

 

 

 

 

 

 

 

 

Americas

 

$

133.1

 

 

$

139.1

 

 

$

145.6

 

EMEA

 

 

42.4

 

 

 

36.5

 

 

 

37.1

 

APAC

 

 

13.5

 

 

 

17.9

 

 

 

19.4

 

Total

 

$

189.0

 

 

$

193.5

 

 

$

202.1