| Reconciliations of Net Sales and Segment Operating Income |
Reconciliations of net sales and segment operating income were as follows:
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For the Quarter Ended |
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September 28, 2026 |
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September 29, 2025 |
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Net Sales |
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Intersegment Sales |
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Segment Sales |
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Net Sales |
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Intersegment Sales |
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Segment Sales |
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(In thousands) |
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A&D |
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$ |
416,261 |
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$ |
279 |
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$ |
416,540 |
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$ |
344,000 |
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$ |
482 |
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$ |
344,482 |
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Commercial |
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787,594 |
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288 |
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787,882 |
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408,736 |
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184 |
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408,920 |
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Eliminations |
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— |
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(567 |
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(567 |
) |
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— |
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(666 |
) |
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(666 |
) |
Total |
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$ |
1,203,855 |
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$ |
— |
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$ |
1,203,855 |
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$ |
752,736 |
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$ |
— |
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$ |
752,736 |
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For the Three Quarters Ended |
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September 28, 2026 |
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September 29, 2025 |
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Net Sales |
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Intersegment Sales |
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Segment Sales |
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Net Sales |
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Intersegment Sales |
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Segment Sales |
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(In thousands) |
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A&D |
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$ |
1,150,078 |
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$ |
876 |
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$ |
1,150,954 |
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$ |
995,378 |
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$ |
537 |
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$ |
995,915 |
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Commercial |
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1,903,807 |
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723 |
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1,904,530 |
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1,136,647 |
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602 |
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1,137,249 |
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Eliminations |
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— |
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(1,599 |
) |
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(1,599 |
) |
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— |
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(1,139 |
) |
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(1,139 |
) |
Total |
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$ |
3,053,885 |
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$ |
— |
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$ |
3,053,885 |
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$ |
2,132,025 |
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$ |
— |
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$ |
2,132,025 |
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For the Quarter Ended September 28, 2026 |
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Net Sales |
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Cost of Goods Sold |
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Operating Expenses |
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Operating Income |
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Operating Margin |
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(In thousands, except margin rates) |
A&D |
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$ |
416,540 |
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$ |
(303,589 |
) |
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$ |
(35,910 |
) |
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$ |
77,041 |
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18.5 |
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% |
Commercial |
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787,882 |
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(597,799 |
) |
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(23,804 |
) |
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166,279 |
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21.1 |
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Total segment |
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1,204,422 |
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(901,388 |
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(59,714 |
) |
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243,320 |
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20.2 |
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Eliminations |
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(567 |
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— |
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Unallocated amounts: |
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Restructuring |
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(380 |
) |
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Acquisition-related and other charges |
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(13,564 |
) |
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Stock-based compensation |
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(24,090 |
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Other corporate expenses |
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(33,809 |
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Amortization of definite-lived intangibles |
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(9,224 |
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Consolidated |
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$ |
1,203,855 |
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162,253 |
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13.5 |
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% |
Interest expense |
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(12,809 |
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Realized and unrealized losses on derivative instruments |
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(6,103 |
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Other, net |
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(1,640 |
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Income before income taxes |
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$ |
141,701 |
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For the Quarter Ended September 29, 2025 |
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Net Sales |
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Cost of Goods Sold |
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Operating Expenses |
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Operating Income |
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Operating Margin |
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(In thousands, except margin rates) |
A&D |
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$ |
344,482 |
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$ |
(257,262 |
) |
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$ |
(31,210 |
) |
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$ |
56,010 |
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16.3 |
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% |
Commercial |
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408,920 |
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(330,183 |
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(18,706 |
) |
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60,031 |
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14.7 |
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Total segment |
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753,402 |
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(587,445 |
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(49,916 |
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116,041 |
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15.4 |
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Eliminations |
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(666 |
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— |
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Unallocated amounts: |
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Restructuring |
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(509 |
) |
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Acquisition-related and other charges |
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(15 |
) |
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Stock-based compensation |
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(11,611 |
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Other corporate expenses |
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(22,775 |
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Amortization of definite-lived intangibles |
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(9,225 |
) |
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Consolidated |
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$ |
752,736 |
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71,906 |
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9.6 |
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% |
Interest expense |
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(10,399 |
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Other, net |
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306 |
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Income before income taxes |
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$ |
61,813 |
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For the Three Quarters Ended September 28, 2026 |
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Net Sales |
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Cost of Goods Sold |
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Operating Expenses |
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Operating Income |
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Operating Margin |
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(In thousands, except margin rates) |
A&D |
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$ |
1,150,954 |
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$ |
(853,189 |
) |
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$ |
(102,084 |
) |
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$ |
195,681 |
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17.0 |
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% |
Commercial |
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1,904,530 |
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(1,478,997 |
) |
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(65,010 |
) |
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360,523 |
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18.9 |
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Total segment |
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3,055,484 |
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(2,332,186 |
) |
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(167,094 |
) |
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556,204 |
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18.2 |
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Eliminations |
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(1,599 |
) |
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— |
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Unallocated amounts: |
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Restructuring |
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(1,016 |
) |
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Acquisition-related and other charges |
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(18,510 |
) |
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Stock-based compensation |
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(61,738 |
) |
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Other corporate expenses |
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(103,511 |
) |
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Amortization of definite-lived intangibles |
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(27,672 |
) |
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Consolidated |
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$ |
3,053,885 |
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343,757 |
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11.3 |
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% |
Interest expense |
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(33,905 |
) |
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Loss on extinguishment of debt |
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(747 |
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Realized and unrealized losses on derivative instruments |
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(20,097 |
) |
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Other, net |
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(7,535 |
) |
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Income before income taxes |
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$ |
281,473 |
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For the Three Quarters Ended September 29, 2025 |
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Net Sales |
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Cost of Goods Sold |
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Operating Expenses |
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Operating Income |
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Operating Margin |
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(In thousands, except margin rates) |
A&D |
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$ |
995,915 |
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$ |
(751,693 |
) |
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$ |
(97,698 |
) |
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$ |
146,524 |
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14.7 |
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% |
Commercial |
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1,137,249 |
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(916,920 |
) |
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(56,580 |
) |
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163,749 |
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14.4 |
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Total segment |
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2,133,164 |
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(1,668,613 |
) |
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(154,278 |
) |
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310,273 |
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14.5 |
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Eliminations |
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(1,139 |
) |
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— |
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Unallocated amounts: |
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Restructuring |
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(2,631 |
) |
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Acquisition-related and other charges |
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(15 |
) |
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Stock-based compensation |
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(29,586 |
) |
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Other corporate expenses |
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(66,433 |
) |
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Amortization of definite-lived intangibles |
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(27,673 |
) |
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Consolidated |
|
$ |
2,132,025 |
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|
183,935 |
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8.6 |
|
% |
Interest expense |
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(32,958 |
) |
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Other, net |
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(2,648 |
) |
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Income before income taxes |
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$ |
148,329 |
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