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Reportable Segments
 3 Months Ended
Jun. 27, 2026
Reportable Segments [Abstract]  
Reportable Segments

12. Reportable Segments

 

The Company operates through two operating segments and reports its financial results based on how its chief operating decision maker makes operating decisions, assesses the performance of the business, and allocates resources. Our operating segments are our reportable segments. These reportable segments are Aerospace & Defense and Industrial and are described below.

 

Aerospace & Defense. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, defense marine, defense ground vehicles, missiles and guided munitions, and space and satellite applications. We supply precision products for many of the commercial aircraft currently operating worldwide and are the primary bearing supplier for many of the aircraft OEMs’ product lines. Commercial and defense aerospace customers generally require precision products, often constructed of special materials and made to unique designs and specifications. Many of our aerospace bearings and engineered component products are designed and certified during the original development of the aircraft being served, which often makes us the primary bearing supplier for the life of that aircraft.

 

Industrial. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: construction, mining, forestry, energy, agricultural and other machinery; aggregate and cement handling; food and beverage manufacturing; grain, and agricultural product handling; metals and mining material handling; chemicals, oil and gas production; warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation. Our products target market applications in which our engineering and manufacturing capabilities provide us with a competitive advantage in the marketplace.

 

The Company’s chief operating decision maker (CODM) is the President and Chief Executive Officer. The CODM uses segment gross margin as the primary measurement of profitability. Throughout the year, the CODM considers budget-to-actual variances and historical trends for gross margin when making decisions about allocating capital to segments.

 

The accounting policies of the reportable segments are the same as those described in Note 2 of our Annual Report. Segment performance is evaluated based on segment net sales and gross margin. Where not separately disclosed, corporate costs are allocated to each segment. Identifiable assets by reportable segment consist of those predominantly identified with the segment’s operations.

   Three Months Ended 
   June 27,
2026		   June 28,
2025		 
Net External Sales:        
Aerospace & Defense   $225.4   $164.6 
Industrial    294.1    271.4 
   $519.5   $436.0 
Cost of Sales:          

Aerospace & Defense 

  $125.2   $94.4 
Industrial    146.5    146.4 
   $271.7   $240.8 
Gross Margin:          
Aerospace & Defense   $100.2   $70.2 
Industrial    147.6    125.0 
   $247.8   $195.2 
Reconciliation of gross margin to income before income taxes:          
Selling, general and administrative   $(85.8)  $(73.9)
Other, net    (21.2)   (20.2)
Interest expense, net    (10.1)   (12.2)
Other non-operating (expense)/income    (0.5)   (1.2)
Income before income taxes   $130.2   $87.7 
           
Capital Expenditures:          

Aerospace & Defense 

  $14.6   $6.6 
Industrial    7.7    4.6 
Corporate    2.6    4.5 
   $24.9   $15.7 
Depreciation & Amortization:          
Aerospace & Defense   $9.8   $5.6 
Industrial    21.6    22.5 
Corporate    1.9    1.5 
   $33.3   $29.6 
Geographic External Sales:          
Domestic    $467.0   $388.5 
Foreign(1)    52.5    47.5 
   $519.5   $436.0 
   June 27,
2026		   March 28,
2026		 
Total Assets:        
Aerospace & Defense   $1,500.4   $1,470.7 
Industrial    3,538.2    3,558.3 
Corporate     157.5    93.7 
   $5,196.1   $5,122.7 
Geographic Long-Lived Assets:          
Domestic   $409.1   $402.3 
Foreign(2)    86.0    85.4 
   $495.1   $487.7 

 

(1)Primarily attributable to Switzerland and Canada.
(2)Primarily attributable to Switzerland, Mexico, and Poland.