Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

v3.26.1
Segment Reporting (Tables)
 3 Months Ended
Apr. 04, 2026
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 April 4, 2026 and March 29, 2025:

 

 

Three Months Ended April 4, 2026

 

 

 

Hydraulics

 

 

Electronics

 

 

Unallocated
expenses

 

 

Total

 

Net sales from external customers

 

$

139.2

 

 

$

89.2

 

 

$

—

 

 

$

228.4

 

Reportable segment total cost of sales

 

 

94.9

 

 

 

58.6

 

 

 

—

 

 

 

153.5

 

Reportable segment gross profit

 

$

44.3

 

 

$

30.6

 

 

$

—

 

 

$

74.9

 

Selling, engineering and administrative expenses (a)

 

$

14.4

 

 

$

11.3

 

 

$

—

 

 

$

25.7

 

Research and development (b)

 

 

2.5

 

 

 

3.0

 

 

 

—

 

 

 

5.5

 

Indirect expenses (c)

 

 

4.0

 

 

 

2.1

 

 

 

0.1

 

 

 

6.2

 

Amortization of intangible assets (d)

 

 

—

 

 

 

—

 

 

 

7.6

 

 

 

7.6

 

Operating income

 

$

23.4

 

 

$

14.2

 

 

$

(7.7

)

 

$

29.9

 

(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.

 

 

 

 

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

 

 

 

April 4,
2026

 

 

March 29,
2025

 

Capital expenditures

 

 

 

 

 

 

Hydraulics

 

$

6.0

 

 

$

4.5

 

Electronics

 

 

0.7

 

 

 

1.6

 

Total

 

$

6.7

 

 

$

6.1

 

Depreciation and amortization

 

 

 

 

 

 

Hydraulics

 

$

5.2

 

 

$

5.4

 

Electronics

 

 

2.2

 

 

 

2.3

 

Corporate and Other

 

 

7.7

 

 

 

8.3

 

Total

 

$

15.1

 

 

$

16.0

 

 

 

 

 

April 4,
2026

 

 

January 3,
2026

 

Goodwill

 

 

 

 

 

 

Hydraulics

 

$

307.3

 

 

$

312.1

 

Electronics

 

 

186.1

 

 

 

186.0

 

Total

 

$

493.4

 

 

$

498.1

 

Total assets

 

 

 

 

 

 

Hydraulics

 

$

954.9

 

 

$

965.8

 

Electronics

 

 

545.1

 

 

 

538.2

 

Corporate and Other

 

 

11.7

 

 

 

10.5

 

Total

 

$

1,511.7

 

 

$

1,514.5

 
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

 

 

 

April 4,
2026

 

 

March 29,
2025

 

Net sales

 

 

 

 

 

 

Americas

 

$

128.7

 

 

$

106.6

 

EMEA

 

 

57.8

 

 

 

44.1

 

APAC

 

 

41.9

 

 

 

44.8

 

Total

 

$

228.4

 

 

$

195.5

 

 

 

 

 

 

April 4,
2026

 

 

January 3,
2026

 

Tangible long-lived assets

 

 

 

 

 

 

Americas

 

$

130.5

 

 

$

133.1

 

EMEA

 

 

44.9

 

 

 

42.4

 

APAC

 

 

13.0

 

 

 

13.5

 

Total

 

$

188.4

 

 

$

189.0