RBC Bearings (RBC) 10-Q 10 Nov 22 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Oct. 01, 2022	Nov. 04, 2022
Document Information Line Items
Entity Registrant Name	RBC BEARINGS INCORPORATED
Document Type	10-Q
Current Fiscal Year End Date	--04-02
Entity Common Stock, Shares Outstanding		29,017,346
Amendment Flag	false
Entity Central Index Key	0001324948
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Oct. 01, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40840
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4372080
Entity Address, Address Line One	One Tribology Center
Entity Address, City or Town	Oxford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06478
City Area Code	(203)
Local Phone Number	267-7001
Entity Interactive Data Current	Yes
Common Stock, par value $0.01 per share
Document Information Line Items
Trading Symbol	RBC
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NYSE
5.00% Series A Mandatory Convertible Preferred Stock, par value $0.01 per share
Document Information Line Items
Trading Symbol	RBCP
Title of 12(b) Security	5.00% Series A Mandatory Convertible Preferred Stock, par value $0.01 per share
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Current assets:
Cash and cash equivalents	$ 88,495	$ 182,862
Accounts receivable, net of allowance for doubtful accounts of $2,986 as of October 1, 2022 and $2,737 as of April 2, 2022	236,527	247,487
Inventory	557,801	516,140
Prepaid expenses and other current assets	28,708	15,748
Total current assets	911,531	962,237
Property, plant and equipment, net	378,291	386,732
Operating lease assets, net	43,263	44,535
Goodwill	1,872,689	1,902,104
Intangible assets, net	1,485,016	1,511,515
Other noncurrent assets	36,270	38,294
Total assets	4,727,060	4,845,417
Current liabilities:
Accounts payable	148,870	158,606
Accrued expenses and other current liabilities	147,584	145,252
Current operating lease liabilities	8,283	8,059
Current portion of long-term debt	1,512	1,543
Total current liabilities	306,249	313,460
Long-term debt, less current portion	1,520,602	1,686,798
Long-term operating lease liabilities	35,109	36,680
Deferred income taxes	308,956	315,463
Other noncurrent liabilities	116,007	120,408
Total liabilities	2,286,923	2,472,809
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 as of October 1, 2022 and April 2, 2022, respectively; issued shares: 4,600,000 as of October 1, 2022 and April 2, 2022, respectively	46	46
Common stock, $.01 par value; authorized shares: 60,000,000 as of October 1, 2022 and April 2, 2022, respectively; issued shares: 29,975,914 and 29,807,208 as of October 1, 2022 and April 2, 2022, respectively	300	298
Additional paid-in capital	1,582,455	1,564,261
Accumulated other comprehensive loss	(20,208)	(5,800)
Retained earnings	955,895	886,155
Treasury stock, at cost, 958,854 shares and 928,322 shares as of October 1, 2022 and April 2, 2022, respectively	(78,351)	(72,352)
Total stockholders’ equity	2,440,137	2,372,608
Total liabilities and stockholders’ equity	$ 4,727,060	$ 4,845,417

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts (in Dollars)	$ 2,986	$ 2,737
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	4,600,000	4,600,000
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	29,975,914	29,807,208
Treasury stock, shares	958,854	928,322

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Statement [Abstract]
Net sales	$ 369,167	$ 160,900	$ 723,247	$ 317,105
Cost of sales	218,020	98,436	430,948	190,868
Gross margin	151,147	62,464	292,299	126,237
Operating expenses:
Selling, general and administrative	57,519	40,223	113,347	71,435
Other, net	21,611	5,667	42,465	8,915
Total operating expenses	79,130	45,890	155,812	80,350
Operating income	72,017	16,574	136,487	45,887
Interest expense, net	18,332	15,770	34,131	16,089
Other non-operating (income)/expense	184	(291)	951	(756)
Income before income taxes	53,501	1,095	101,405	30,554
Provision for income taxes	9,699	2,447	20,165	7,868
Net income/(loss)	43,802	(1,352)	81,240	22,686
Preferred stock dividends	5,750	510	11,500	510
Net income/(loss) available to common stockholders	$ 38,052	$ (1,862)	$ 69,740	$ 22,176
Net income/(loss) per share available to common stockholders:
Basic (in Dollars per share)	$ 1.32	$ (0.07)	$ 2.43	$ 0.88
Diluted (in Dollars per share)	$ 1.31	$ (0.07)	$ 2.4	$ 0.87
Weighted average common shares:
Basic (in Shares)	28,758,403	25,500,393	28,714,445	25,260,728
Diluted (in Shares)	29,093,791	25,500,393	29,020,403	25,632,845

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Statement of Comprehensive Income [Abstract]
Net income/(loss)		$ 43,802	$ (1,352)	$ 81,240	$ 22,686
Pension and postretirement liability adjustments, net of taxes	[1]	535	318	1,070	636
Foreign currency translation adjustments		(8,993)	(1,409)	(15,478)	510
Total comprehensive income/(loss)		$ 35,344	$ (2,443)	$ 66,832	$ 23,832
[1]These adjustments were net of tax expense of $148 and $82 for the three-month periods ended October 1, 2022 and October 2, 2021, respectively and $296 and $165 for the six-month periods ended October 1, 2022 and October 2, 2021, respectively.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Preferred Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income/(Loss)	Retained Earnings	Treasury Stock	Total
Balance at Apr. 03, 2021	$ 261		$ 462,616	$ (10,409)	$ 843,456	$ (63,826)	$ 1,232,098
Balance (in Shares) at Apr. 03, 2021	26,110,320					(884,701)
Net income (loss)					24,038		24,038
Share-based compensation			7,182				7,182
Repurchase of common stock						$ (6,264)	(6,264)
Repurchase of common stock (in Shares)						(31,572)
Exercise of equity awards	$ 2		16,679				16,681
Exercise of equity awards (in Shares)	135,518
Change in net prior service cost and actuarial losses, net of tax expense				318			318
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	91,056
Currency translation adjustments				1,919			1,919
Balance at Jul. 03, 2021	$ 263		486,477	(8,172)	867,494	$ (70,090)	1,275,972
Balance (in Shares) at Jul. 03, 2021	26,336,894					(916,273)
Balance at Apr. 03, 2021	$ 261		462,616	(10,409)	843,456	$ (63,826)	1,232,098
Balance (in Shares) at Apr. 03, 2021	26,110,320					(884,701)
Net income (loss)							22,686
Balance at Oct. 02, 2021	$ 298	$ 46	1,554,431	(9,263)	865,632	$ (70,182)	2,340,962
Balance (in Shares) at Oct. 02, 2021	29,787,162	4,600,000				(916,679)
Balance at Jul. 03, 2021	$ 263		486,477	(8,172)	867,494	$ (70,090)	1,275,972
Balance (in Shares) at Jul. 03, 2021	26,336,894					(916,273)
Net income (loss)					(1,352)		(1,352)
Share-based compensation			16,774				16,774
Preferred stock issuance, net of issuance costs		$ 46	445,407				445,453
Preferred stock issuance, net of issuance costs (in Shares)		4,600,000
Common stock issuance, net of issuance costs	$ 35		605,642				605,677
Common stock issuance, net of issuance costs (in Shares)	3,450,000
Preferred stock dividends					(510)		(510)
Repurchase of common stock						$ (92)	(92)
Repurchase of common stock (in Shares)						(406)
Exercise of equity awards			131				131
Exercise of equity awards (in Shares)	1,332
Change in net prior service cost and actuarial losses, net of tax expense				318			318
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	(1,064)
Currency translation adjustments				(1,409)			(1,409)
Balance at Oct. 02, 2021	$ 298	$ 46	1,554,431	(9,263)	865,632	$ (70,182)	2,340,962
Balance (in Shares) at Oct. 02, 2021	29,787,162	4,600,000				(916,679)
Balance at Apr. 02, 2022	$ 298	$ 46	1,564,261	(5,800)	886,155	$ (72,352)	2,372,608
Balance (in Shares) at Apr. 02, 2022	29,807,208	4,600,000				(928,322)
Net income (loss)					37,438		37,438
Share-based compensation			3,819				3,819
Preferred stock dividends					(5,750)		(5,750)
Repurchase of common stock						$ (5,984)	(5,984)
Repurchase of common stock (in Shares)						(30,469)
Exercise of equity awards	$ 1		1,459				1,460
Exercise of equity awards (in Shares)	13,713
Change in net prior service cost and actuarial losses, net of tax expense				535			535
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	56,955
Currency translation adjustments				(6,485)			(6,485)
Balance at Jul. 02, 2022	$ 299	$ 46	1,569,539	(11,750)	917,843	$ (78,336)	2,397,641
Balance (in Shares) at Jul. 02, 2022	29,877,876	4,600,000				(958,791)
Balance at Apr. 02, 2022	$ 298	$ 46	1,564,261	(5,800)	886,155	$ (72,352)	2,372,608
Balance (in Shares) at Apr. 02, 2022	29,807,208	4,600,000				(928,322)
Net income (loss)							81,240
Balance at Oct. 01, 2022	$ 300	$ 46	1,582,455	(20,208)	955,895	$ (78,351)	2,440,137
Balance (in Shares) at Oct. 01, 2022	29,975,914	4,600,000				(958,854)
Balance at Jul. 02, 2022	$ 299	$ 46	1,569,539	(11,750)	917,843	$ (78,336)	2,397,641
Balance (in Shares) at Jul. 02, 2022	29,877,876	4,600,000				(958,791)
Net income (loss)					43,802		43,802
Share-based compensation			4,354				4,354
Preferred stock dividends					(5,750)		(5,750)
Repurchase of common stock						$ (15)	(15)
Repurchase of common stock (in Shares)						(63)
Exercise of equity awards	$ 1		8,562				8,563
Exercise of equity awards (in Shares)	89,509
Change in net prior service cost and actuarial losses, net of tax expense				535			535
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	8,529
Currency translation adjustments				(8,993)			(8,993)
Balance at Oct. 01, 2022	$ 300	$ 46	$ 1,582,455	$ (20,208)	$ 955,895	$ (78,351)	$ 2,440,137
Balance (in Shares) at Oct. 01, 2022	29,975,914	4,600,000				(958,854)

Consolidated Statements of St_2

Consolidated Statements of Stockholders’ Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Oct. 01, 2022	Jul. 02, 2022	Oct. 02, 2021	Jul. 03, 2021
Statement of Stockholders' Equity [Abstract]
Net of tax expense	$ 148	$ 148	$ 82	$ 83

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Cash flows from operating activities:
Net income	$ 81,240	$ 22,686
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	57,068	16,857
Deferred income taxes	(6,523)	1,276
Amortization of deferred financing costs	4,338	15,682
Share-based compensation	8,173	23,955
Loss/(gain) on disposition of assets	85	75
Consolidation, restructuring, and other noncash charges	318	2,378
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	9,265	642
Inventory	(45,176)	(7,173)
Prepaid expenses and other current assets	(12,954)	(12,059)
Other noncurrent assets	5,238	(1,310)
Accounts payable	(8,664)	11,248
Accrued expenses and other current liabilities	2,402	14,000
Other noncurrent liabilities	(6,430)	5,217
Net cash provided by operating activities	88,380	93,474
Cash flows from investing activities:
Capital expenditures	(23,076)	(6,882)
Proceeds from sale of assets	510	10
Purchase of marketable securities		(29,982)
Proceeds from sale of marketable securities		120,483
Purchase price adjustments for acquisition of business	22,966
Net cash (used in)/ provided by investing activities	400	83,629
Cash flows from financing activities:
Proceeds received from issuance of common stock		605,677
Proceeds received from issuance of preferred stock		445,453
Finance fees paid in connection with credit facilities and term loans		(32,208)
Repayments of term loans	(170,000)	(8,866)
Repayments of notes payable	(240)	(254)
Principal payments on finance lease obligations	(2,219)
Preferred stock dividends paid	(11,500)
Exercise of stock options	10,023	16,812
Repurchase of common stock	(5,999)	(6,356)
Net cash provided by/(used in) financing activities	(179,935)	1,020,258
Effect of exchange rate changes on cash	(3,212)	164
Cash and cash equivalents:
Increase/(Decrease) during the period	(94,367)	1,197,525
Cash and cash equivalents, at beginning of period	182,862	151,086
Cash and cash equivalents, at end of period	88,495	1,348,611
Supplemental disclosures of cash flow information:
Income taxes	34,881	10,777
Interest	$ 30,101	$ 416

Basis of Presentation

Basis of Presentation	6 Months Ended
	Oct. 01, 2022
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The interim consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K/A for the fiscal year ended April 2, 2022. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP). As used in this report, the terms “we,” “us,” “our,” “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. These statements reflect all adjustments, accruals, and estimates, consisting only of items of a normal recurring nature, that are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Annual Report on Form 10-K/A. The results of operations for the three- and six-month periods ended October 1, 2022 are not necessarily indicative of the operating results for the entire fiscal year ending April 1, 2023. The three- and six-month periods ended October 1, 2022 and October 2, 2021 each included 13 weeks and 26 weeks, respectively. The amounts shown are in thousands, unless otherwise indicated.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Oct. 01, 2022
Basis of Presentation [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies The Company’s significant accounting policies are detailed in “Note 2 - Summary of Significant Accounting Policies” of our Annual Report on Form 10-K/A for the year ended April 2, 2022. Significant changes to our accounting policies as a result of adopting new accounting standards are discussed below. Recent Accounting Standards Adopted Not applicable. Recent Accounting Standards Yet to Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other new pronouncements issued but not effective until after April 1, 2023 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	3. Revenue from Contracts with Customers Disaggregation of Revenue The following table disaggregates total revenue by end market which is how we view our reportable segments (see Note 12): Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Aerospace/Defense $ 103,548 $ 92,915 $ 202,947 $ 183,280 Industrial 265,619 67,985 520,300 133,825 Total $ 369,167 $ 160,900 $ 723,247 $ 317,105 The following table disaggregates total revenue by geographic origin: Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, United States $ 324,774 $ 144,074 $ 635,404 $ 283,864 International 44,393 16,826 87,843 33,241 Total $ 369,167 $ 160,900 $ 723,247 $ 317,105 The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized for performance obligations satisfied at a point in time: Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Point-in-time 98 % 96 % 98 % 96 % Over time 2 % 4 % 2 % 4 % Total 100 % 100 % 100 % 100 % Remaining Performance Obligations Remaining performance obligations represent the transaction price of orders meeting the definition of a contract for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC Topic 606, is less than one year. The Company has elected to apply the practical expedient, which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $305,457 at October 1, 2022. The Company expects to recognize revenue on approximately 63% and 91% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. Contract Balances The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the consolidated balance sheets. These assets and liabilities are reported on the consolidated balance sheets on an individual contract basis at the end of each reporting period. Contract Assets (Unbilled Receivables) As of October 1, 2022 and April 2, 2022, current contract assets were $4,707 and $3,882, respectively, and included within prepaid expenses and other current assets on the consolidated balance sheets. The increase in contract assets was primarily due to the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations prior to billing partially offset by amounts billed to customers during the period. As of October 1, 2022 and April 2, 2022, the Company did not have any contract assets classified as noncurrent on the consolidated balance sheets. Contract Liabilities (Deferred Revenue) As of October 1, 2022 and April 2, 2022, current contract liabilities were $22,414 and $19,556, respectively, and included within accrued expenses and other current liabilities on the consolidated balance sheets. The increase in current contract liabilities was primarily due to advance payments received and the reclassification of a portion of advance payments received from the noncurrent portion of contract liabilities partially offset by revenue recognized on customer contracts. For the three and six months ended October 1, 2022, the Company recognized revenues of $3,606 and $7,474, respectively, that were included in the contract liability balance as of April 2, 2022. For the three and six months ended October 2, 2021, the Company recognized revenues of $2,129 and $6,779, respectively, that were included in the contract liability balance at April 3, 2021. As of October 1, 2022 and April 2, 2022, noncurrent contract liabilities were $9,295 and $10,401, respectively, and included within other noncurrent liabilities on the consolidated balance sheets. The decrease in noncurrent contract liabilities was primarily due to advance payments received offset by the reclassification of a portion of advance payments received to the current portion of contract liabilities. Variable Consideration The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. Accrued customer rebates were $38,829 and $35,234 at October 1, 2022 and April 2, 2022, respectively, and are included within accrued expenses and other current liabilities on the consolidated balance sheets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Oct. 01, 2022
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Income (Loss)	4. Accumulated Other Comprehensive Income (Loss) The components of comprehensive income (loss) that relate to the Company are net income/(loss), foreign currency translation adjustments, and pension plan and postretirement benefits. The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes: Currency Pension and Total Balance at April 2, 2022 $ 860 $ (6,660 ) $ (5,800 ) Other comprehensive income (loss) before reclassifications (15,478 ) — (15,478 ) Amounts recorded in/reclassified from accumulated other comprehensive income (loss) — 1,070 1,070 Net current period other comprehensive income (loss) (15,478 ) 1,070 (14,408 ) Balance at October 1, 2022 $ (14,618 ) $ (5,590 ) $ (20,208 )

Net Income_(Loss) Per Share Ava

Net Income/(Loss) Per Share Available to Common Stockholders	6 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Net Income/(Loss) Per Share Available to Common Stockholders	5. Net Income/(Loss) Per Share Available to Common Stockholders Basic net income/(loss) per share available to common stockholders is computed by dividing net income/(loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted net income/(loss) per share available to common stockholders is computed by dividing net income/(loss) available to common stockholders by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and the conversion of 5.00% Series A Mandatory Convertible Preferred Stock (“MCPS”) to common shares. The MCPS was issued on September 24, 2021. We exclude outstanding stock options, stock awards and the MCPS from the calculations if the effect would be anti-dilutive. The dilutive effect of the MCPS is calculated using the if-converted method. The if-converted method assumes that these securities were converted to shares of common stock at the later of the September 24, 2021 issuance date or the beginning of the reporting period to the extent that the effect is dilutive. If the effect is anti-dilutive, we calculate net income/(loss) per share available to common stockholders by adjusting net income/(loss) in the numerator for the effect of the cumulative MCPS dividends for the respective period. For the three- and six-month periods ended October 1, 2022, the effect of assuming the conversion of the 4,600,000 shares of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of diluted earnings per share available to common stockholders. Accordingly, net income/(loss) was reduced by cumulative MCPS dividends, as presented in our consolidated statement of operations, for purposes of calculating net income/(loss) available to common stockholders. For the three months ended October 1, 2022, 90,796 employee stock options and 485 restricted shares were excluded from the calculation of diluted earnings per share available to common stockholders. For the six months ended October 1, 2022, 110,692 employee stock options and 9,780 restricted shares were excluded from the calculation of diluted earnings per share available to common stockholders. The inclusion of these employee stock options and restricted shares would have been anti-dilutive. For the three months ended October 2, 2021, no employee stock options or restricted shares were excluded from the calculation of diluted earnings per share available to common stockholders. For the six months ended October 2, 2021, 159,925 employee stock options and no restricted shares were excluded from the calculation of diluted earnings per share available to common stockholders. The inclusion of these employee stock options would have been anti-dilutive. The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income/(loss) per share available to common stockholders. Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Net income/(loss) $ 43,802 $ (1,352 ) $ 81,240 $ 22,686 Preferred stock dividends 5,750 510 11,500 510 Net income/(loss) available to common stockholders $ 38,052 $ (1,862 ) $ 69,740 $ 22,176 Denominator for basic net income/(loss) per share available to common stockholders — weighted-average shares outstanding 28,758,403 25,500,393 28,714,445 25,260,728 Effect of dilution due to employee stock awards 335,388 — 305,958 372,117 Denominator for diluted net income/(loss) per share available to common stockholders — weighted-average shares outstanding 29,093,791 25,500,393 29,020,403 25,632,845 Basic net income/(loss) per share available to common stockholders $ 1.32 $ (0.07 ) $ 2.43 $ 0.88 Diluted net income/(loss) per share available to common stockholders $ 1.31 $ (0.07 ) $ 2.40 $ 0.87

Fair Value

Fair Value	6 Months Ended
	Oct. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value	6. Fair Value Fair value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 – Unobservable inputs for the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As a result of the occurrence of triggering events such as purchase accounting for acquisitions, the Company does measure certain assets and liabilities based on Level 3 inputs. Financial Instruments: The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, trade accounts payable, short-term borrowings and long-term debt. Due to their short-term nature, the carrying value of cash and cash equivalents, accounts receivable, trade accounts payable, accrued expenses and short-term borrowings are a reasonable estimate of their fair value. Long-term assets held on our balance sheet related to benefit plan obligations are measured at fair value. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company’s long-term variable-rate debt is a reasonable estimate of its fair value. The fair value of the Company’s long-term fixed-rate debt, based on quoted market prices, was $421,745 and $463,750 at October 1, 2022 and April 2, 2022, respectively. The carrying value of this debt was $492,822 at October 1, 2022 and $492,396 at April 2, 2022. The fair value of long-term fixed-rate debt was measured using Level 2 inputs. The Company does not believe it has significant concentrations of risk associated with the counterparties to its financial instruments.

Inventory

Inventory	6 Months Ended
	Oct. 01, 2022
Inventory Disclosure [Abstract]
Inventory	7. Inventory Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below: October 1, 2022 April 2, 2022 Raw materials $ 118,612 $ 112,651 Work in process 128,860 122,983 Finished goods 310,329 280,506 $ 557,801 $ 516,140

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	8. Goodwill and Intangible Assets Goodwill Goodwill balances, by segment, consist of the following: Aerospace/ Industrial Total April 2, 2022 $ 194,124 $ 1,707,980 $ 1,902,104 Acquisition (1) — (22,912 ) (22,912 ) Translation adjustments — (6,503 ) (6,503 ) October 1, 2022 $ 194,124 $ 1,678,565 $ 1,872,689 (1) Purchase accounting adjustments to goodwill associated with the acquisition of Dodge discussed further in Note 13. Intangible Assets October 1, 2022 April 2, 2022 Weighted Average Useful Lives (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 17,645 $ 50,878 $ 16,680 Customer relationships and lists 24 1,293,729 80,225 1,294,577 53,376 Trade names 25 216,317 19,639 216,340 15,073 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 13,017 6,878 12,342 6,607 Domain names 10 437 437 437 437 Other 5 14,469 3,288 9,720 4,887 1,589,569 128,834 1,585,016 97,782 Non-amortizable repair station certifications n/a 24,281 — 24,281 — Total 24 $ 1,613,850 $ 128,834 $ 1,609,297 $ 97,782 Amortization expense for definite-lived intangible assets during the three-month periods ended October 1, 2022 and October 2, 2021 were $16,755 and $2,825, respectively. Amortization expense for definite-lived intangible assets during the six-month periods ended October 1, 2022 and October 2, 2021 were $34,059 and $5,409, respectively. These amounts are included in other, net on the Company’s consolidated statements of operations. Estimated amortization expense for the remainder of fiscal 2023 and the five succeeding fiscal years and thereafter is as follows: Remainder of Fiscal 2023 $ 34,307 Fiscal 2024 68,040 Fiscal 2025 67,926 Fiscal 2026 66,634 Fiscal 2027 65,591 Fiscal 2028 64,832 Fiscal 2029 and thereafter 1,093,405

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Oct. 01, 2022
Disclosure Text Block Supplement [Abstract]
Accrued Expenses and Other Current Liabilities	9. Accrued Expenses and Other Current Liabilities The significant components of accrued expenses and other current liabilities are as follows: October 1, 2022 April 2, 2022 Employee compensation and related benefits $ 35,982 $ 34,697 Taxes 8,447 11,706 Contract liabilities 22,414 19,556 Accrued rebates 38,829 35,234 Workers’ compensation and insurance 1,067 1,144 Acquisition costs 2,487 4,568 Current finance lease liabilities 4,686 3,863 Accrued preferred stock dividends 4,919 4,919 Interest 10,685 10,987 Audit fees 464 599 Legal 925 450 Returns and warranties 8,409 7,889 Other 8,270 9,640 $ 147,584 $ 145,252

Debt

Debt	6 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Debt	10. Debt Domestic Credit Facility On November 1, 2021 RBC Bearings Incorporated, our top holding company, and our Roller Bearing Company of America, Inc. subsidiary (“RBCA”) entered into a Credit Agreement (the “New Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other lenders party thereto, and terminated the Company’s prior Credit Agreement, which was entered into with Wells Fargo in 2015 (the “2015 Credit Agreement”). The New Credit Agreement provides the Company with (a) a $1,300,000 term loan facility (the “Term Loan Facility”), which was used to fund a portion of the cash purchase price for the acquisition of Dodge and to pay related fees and expenses, and (b) a $500,000 revolving credit facility (the “Revolving Credit Facility” and together with the Term Loan Facility, the “Facilities”). Debt issuance costs associated with the New Credit Agreement totaled $14,947 and will be amortized over the life of the New Credit Agreement. Amounts outstanding under the Facilities generally bear interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 1/2 of 1.00% and (iii) the one-month LIBOR rate plus 1.00% or (b) the LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company’s consolidated ratio of total net debt to consolidated EBITDA from time to time. Currently, the Company’s margin is 0.50% for base rate loans and 1.50% for LIBOR rate loans. The Facilities are subject to a “LIBOR” floor of 0.00% and contain “hard-wired” LIBOR replacement provisions as set forth in the New Credit Agreement. As of October 1, 2022, the Company’s commitment fee rate is 0.20% and the letter of credit fee rate was 1.50%. The Term Loan Facility will mature on November 2, 2026 and amortizes in quarterly installments with the balance payable on the Maturity Date. The Company can elect to prepay some or all of the outstanding balance from time to time without penalty, which will offset future quarterly amortization installments. The required future principal payments on the Term Loan Facility are $0 for the remainder of fiscal 2023, $0 for fiscal 2024, and $0 for fiscal 2025, due to prepayments previously made, and approximately $87,500 for fiscal 2026, and $942,500 for fiscal 2027. The Revolving Credit Facility will mature on November 2, 2026, at which time all amounts outstanding under the Revolving Credit Facility will be payable. The New Credit Agreement requires the Company to comply with various covenants, including the following financial covenants: (a) a maximum Total Net Leverage Ratio of 5.50:1.00, which maximum Total Net Leverage Ratio shall decrease during certain subsequent test periods as set forth in the New Credit Agreement (provided that, no more than once during the term of the Facilities, such maximum ratio applicable at such time may be increased by the Company by 0.50:1.00 for a period of 12 months after the consummation of a material acquisition), and (b) a minimum Interest Coverage Ratio of 2.00:1.00. As of October 1, 2022, the Company was in compliance with all debt covenants. The New Credit Agreement allows the Company to, among other things, make distributions to stockholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the New Credit Agreement. The Company’s domestic subsidiaries have guaranteed the Company’s obligations under the New Credit Agreement, and the Company’s obligations and the domestic subsidiaries’ guaranty are secured by a pledge of substantially all of the domestic assets of the Company and its domestic subsidiaries. As of October 1, 2022, $1,030,000 was outstanding under the Term Loan Facility and approximately $3,675 of the Revolving Credit Facility was being utilized to provide letters of credit to secure the Company’s obligations relating to certain insurance programs, and the Company had the ability to borrow up to an additional $496,325 under the Revolving Credit Facility. Senior Notes On October 7, 2021, RBCA issued $500,000 aggregate principal amount of 4.375% Senior Notes due 2029 (the “Senior Notes”). The net proceeds from the issuance of the Senior Notes were approximately $491,992 after deducting initial purchasers’ discounts and commissions and offering expenses. On November 1, 2021, the Company used the proceeds to fund a portion of the cash purchase price for the acquisition of Dodge. The Senior Notes were issued pursuant to an indenture with Wilmington Trust, National Association, as trustee (the “Indenture”). The Indenture contains covenants limiting the ability of the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other distributions to stockholders, (iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) sell or transfer certain assets. These covenants contain various exceptions, limitations and qualifications. At any time that the Senior Notes are rated investment grade, certain of these covenants will be suspended. The Senior Notes are guaranteed jointly and severally on a senior unsecured basis by RBC Bearings and certain of RBCA’s existing and future wholly owned domestic subsidiaries that also guarantee the New Credit Agreement. Interest on the Senior Notes accrues at a rate of 4.375% and is payable semi–annually in cash in arrears on April 15 and October 15 of each year. The Senior Notes will mature on October 15, 2029. The Company may redeem some or all of the Senior Notes at any time on or after October 15, 2024 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company may also redeem up to 40% of the Senior Notes using the proceeds of certain equity offerings completed before October 15, 2024, at a redemption price equal to 104.375% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, at any time prior to October 15, 2024, the Company may redeem some or all of the Senior Notes at a price equal to 100% of the principal amount, plus a “make–whole” premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain of its assets or experiences specific kinds of changes in control, the Company must offer to purchase the Senior Notes. Foreign Term Loan and Revolving Credit Facility On August 15, 2019, one of our foreign subsidiaries, Schaublin SA (“Schaublin”), entered into two separate credit agreements (the “Foreign Credit Agreements”) with Credit Suisse (Switzerland) Ltd. to (i) finance the acquisition of Swiss Tool, and (ii) provide future working capital. The Foreign Credit Agreements provided Schaublin with a CHF 15,000 (approximately $15,383) term loan (the “Foreign Term Loan”), which was extinguished in February 2022 and a CHF 15,000 (approximately $15,383) revolving credit facility (the “Foreign Revolver”), which was terminated as of October 1, 2022. A summary of the Company’s debt is presented in the table below: October 1, 2022 April 2, 2022 Revolver and term loan facilities $ 1,030,000 $ 1,200,000 Senior notes 500,000 500,000 Debt issuance costs (16,557 ) (20,895 ) Other 8,671 9,236 Total debt 1,522,114 1,688,341 Less: current portion 1,512 1,543 Long-term debt $ 1,520,602 $ 1,686,798

Income Taxes

Income Taxes	6 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company files income tax returns in numerous U.S. and foreign jurisdictions, with returns subject to examination for varying periods, but generally back to and including the year ending March 30, 2019, although certain tax credits generated in earlier years are open under statute from March 29, 2008. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before March 30, 2019. The effective income tax rates for the three-month periods ended October 1, 2022 and October 2, 2021, were 18.1% and 223.5%, respectively. In addition to discrete items, the effective income tax rates for these periods are different from the U.S. statutory rates due to the foreign-derived intangible income provision and U.S. credit for increasing research activities, which decrease the rate, and state income taxes, foreign income taxes, and nondeductible stock-based compensation, that increase the rate. The effective income tax rate for the three-month period ended October 1, 2022 of 18.1% includes $2,372 of tax benefits associated with share-based compensation and $174 of other items. The effective income tax rate without discrete items for the three-month period ended October 1, 2022 would have been 22.9%. The effective income tax rate for the three-month period ended October 2, 2021 of 223.5% includes $91 of tax benefits associated with share-based compensation offset by the establishment of a $1,853 valuation allowance for capital loss carryforwards we do not expect to recognize and $100 of other items. The effective income tax rate without discrete items for the three-month period ended October 2, 2021 would have been 53.5%. The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled within the next 12 months due to the closing of audits and the statute of limitations expiring in varying jurisdictions. The decrease in the Company’s unrecognized tax positions, pertaining primarily to federal and state credits and state tax, is estimated to be approximately $3,068. Income tax expense for the six-month period ended October 1, 2022 was $20,165 compared to $7,868 for the six-month period ended October 2, 2021. Our effective income tax rate for the six-month period ended October 1, 2022 was 19.9% compared to 25.8% for the six-month period ended October 2, 2021. The effective income tax rate for the six-month period ended October 1, 2022 of 19.9% includes $2,971 of tax benefits associated with share-based compensation partially offset by $187 of other items. The effective income tax rate without these benefits and other items for the six-month period ended October 1, 2022 would have been 23.0%. The effective income tax rate for the six-month period ended October 2, 2021 of 25.8% includes $2,231 of tax benefits associated with share-based compensation offset by the establishment of a $1,853 valuation allowance for capital loss carryforwards we don’t expect to recognize and $60 of other items. The effective income tax rate without these benefits and other items for the six-month period ended October 2, 2021 would have been 27.2%.

Reportable Segments

Reportable Segments	6 Months Ended
	Oct. 01, 2022
Reportable Segments [Abstract]
Reportable Segments	12. Reportable Segments The Company operates through 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. These reportable operating segments are Aerospace/Defense and Industrial and are described below. Aerospace/Defense. Industrial. Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations. Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Net External Sales Aerospace/Defense $ 103,548 $ 92,915 $ 202,947 $ 183,280 Industrial 265,619 67,985 520,300 133,825 $ 369,167 $ 160,900 $ 723,247 $ 317,105 Gross Margin Aerospace/Defense $ 41,033 $ 36,580 $ 79,633 $ 75,212 Industrial 110,114 25,884 212,666 51,025 $ 151,147 $ 62,464 $ 292,299 $ 126,237 Selling, General & Administrative Expenses Aerospace/Defense $ 7,472 $ 7,287 $ 14,940 $ 14,535 Industrial 30,101 5,918 60,073 11,665 Corporate 19,946 27,018 38,334 45,235 $ 57,519 $ 40,223 $ 113,347 $ 71,435 Operating Income Aerospace/Defense $ 31,480 $ 26,521 $ 60,984 $ 56,111 Industrial 60,050 19,813 113,345 39,199 Corporate (19,513 ) (29,760 ) (37,842 ) (49,423 ) $ 72,017 $ 16,574 $ 136,487 $ 45,887 October 1, April 2, Total Assets Aerospace/Defense $ 789,204 $ 776,505 Industrial 3,824,386 3,920,957 Corporate 113,470 147,955 $ 4,727,060 $ 4,845,417

Dodge Acquisition

Dodge Acquisition	6 Months Ended
	Oct. 01, 2022
Dodge Acquisition Abstract
Dodge Acquisition	13. Dodge Acquisition On November 1, 2021, the Company completed the acquisition of Dodge for approximately $2,908,241, net of cash acquired and subject to certain adjustments. The purchase price was paid with (i) $1,285,761 of borrowing under the Term Loan Facility, net of issuance costs, (ii) $1,050,811 of net proceeds from common stock and MCPS offerings, (iii) $494,200 of net proceeds from the Senior Notes offering, and (iv) approximately $77,469 of cash on hand. Since the close of the transaction, purchase price adjustments totaling $22,966 have been recorded. In the acquisition, the Company purchased 100% of the capital stock of certain entities, including Dodge Mechanical Power Transmission Company Inc. (now known as Dodge Industrial, Inc.), and certain other assets relating to ABB Asea Brown Boveri Ltd.’s mechanical power transmission business. With offices in Greenville, South Carolina, Dodge is a leading manufacturer of mounted bearings, gearings and mechanical products with market-leading brand recognition. Dodge manufactures a complete line of mounted bearings, enclosed gearing and power transmission components across a diverse set of industrial end markets. Dodge primarily operates across the construction and mining aftermarket, and the food & beverage, warehousing and general machinery verticals, with sales predominately in the Americas. Acquisition costs incurred for the fiscal year ended April 2, 2022 totaled $22,598 and were recorded as period expenses and included within other, net within the consolidated statements of operations. Remaining acquisition-related costs incurred for the three and six months ended October 1, 2022 were immaterial. This acquisition was accounted for as a purchase transaction. The purchase price allocation will be completed during the third quarter of fiscal 2023 as we finalize the impact from taxes and other minor items. The assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition as follows: November 1, Cash and cash equivalents $ 81,868 Accounts receivable 83,533 Inventory 136,376 Prepaid expenses and other current assets 1,261 Property, plant and equipment 165,109 Operating lease assets 9,768 Goodwill 1,601,881 Other intangible assets 1,385,082 Other noncurrent assets 3,672 Accounts payable (69,757 ) Accrued rebates (30,184 ) Accrued expenses and other current liabilities (44,766 ) Deferred tax liabilities (299,711 ) Other noncurrent liabilities (56,989 ) Net assets acquired 2,967,143 Less cash received 81,868 Net consideration $ 2,885,275 The goodwill associated with this acquisition is the result of expected synergies from combining the operations of the acquired business with the Company's operations, and intangible assets that do not qualify for separate recognition, such as an assembled workforce. $44,941 of the acquired goodwill is deductible for tax purposes. The fair value of the identifiable intangible assets of $1,385,082, consisting primarily of customer relationships and trade names, was determined using the income approach. Specifically, a multi-period, excess earnings method was utilized for the customer relationships and the relief-from-royalty method was utilized for the trade name. The fair value of the customer relationships, $1,185,000, is being amortized based on the economic pattern of benefit over a period of 24 years; the fair value of the trade names, $200,000, is being amortized on a straight-line basis over a 26-year term. These amortization periods represent the estimated useful lives of the assets. The results of operations for Dodge have been included in the Company’s financial statements for the period subsequent to the completion of the acquisition on November 1, 2021. Dodge contributed $192,267 of revenue and $38,152 of operating income for the three months ended October 1, 2022. Dodge contributed $369,740 of revenue and $68,646 of operating income for the six months ended October 1, 2022. Upon closing, the Company entered into a transition services agreement ("TSA") with ABB, pursuant to which ABB agreed to support the information technology, human resources and benefits, finance, tax and treasury functions of the Dodge business for six to 12 months. Substantially all services terminated on November 1, 2022. Costs associated with the TSA were $3,999 and $7,704 for the three and six months ended October 1, 2022, respectively, and are included in other, net on the Company’s consolidated statement of operations. Since the purchase of the Dodge business on November 1, 2021, costs associated with the TSA were $15,707 through October 1, 2022.

Subsequent Events

Subsequent Events	6 Months Ended
	Oct. 01, 2022
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events On October 28, 2022, the Company entered into a three-year USD-denominated interest rate swap (“the Swap”) from a third-party financial counterparty under the New Credit Agreement (see Note 10). The Swap was executed to protect the Company from interest rate volatility on our variable-rate Term Loan Facility. The Swap has an effective date of December 30, 2022 and is comprised of a $600,000 notional with a maturity of three years. RBC will receive a variable rate based on one-month USD-SOFR CME Term and will pay a fixed rate of 4.455%. The notional on the Swap will amortize as follows: Year 1: $600,000 Year 2: $400,000 Year 3: $100,000

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Oct. 01, 2022
Basis of Presentation [Abstract]
Recent Accounting Standards Adopted	Recent Accounting Standards Adopted Not applicable.
Recent Accounting Standards Yet to Be Adopted	Recent Accounting Standards Yet to Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other new pronouncements issued but not effective until after April 1, 2023 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Schedule of disaggregates total revenue by reportable segments	Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Aerospace/Defense $ 103,548 $ 92,915 $ 202,947 $ 183,280 Industrial 265,619 67,985 520,300 133,825 Total $ 369,167 $ 160,900 $ 723,247 $ 317,105
Schedule of disaggregates total revenue by geographic origin	Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, United States $ 324,774 $ 144,074 $ 635,404 $ 283,864 International 44,393 16,826 87,843 33,241 Total $ 369,167 $ 160,900 $ 723,247 $ 317,105
Schedule of percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized	Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Point-in-time 98 % 96 % 98 % 96 % Over time 2 % 4 % 2 % 4 % Total 100 % 100 % 100 % 100 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Oct. 01, 2022
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive income (loss), net of taxes	Currency Pension and Total Balance at April 2, 2022 $ 860 $ (6,660 ) $ (5,800 ) Other comprehensive income (loss) before reclassifications (15,478 ) — (15,478 ) Amounts recorded in/reclassified from accumulated other comprehensive income (loss) — 1,070 1,070 Net current period other comprehensive income (loss) (15,478 ) 1,070 (14,408 ) Balance at October 1, 2022 $ (14,618 ) $ (5,590 ) $ (20,208 )

Net Income_(Loss) Per Share A_2

Net Income/(Loss) Per Share Available to Common Stockholders (Tables)	6 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted net income per common share	Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Net income/(loss) $ 43,802 $ (1,352 ) $ 81,240 $ 22,686 Preferred stock dividends 5,750 510 11,500 510 Net income/(loss) available to common stockholders $ 38,052 $ (1,862 ) $ 69,740 $ 22,176 Denominator for basic net income/(loss) per share available to common stockholders — weighted-average shares outstanding 28,758,403 25,500,393 28,714,445 25,260,728 Effect of dilution due to employee stock awards 335,388 — 305,958 372,117 Denominator for diluted net income/(loss) per share available to common stockholders — weighted-average shares outstanding 29,093,791 25,500,393 29,020,403 25,632,845 Basic net income/(loss) per share available to common stockholders $ 1.32 $ (0.07 ) $ 2.43 $ 0.88 Diluted net income/(loss) per share available to common stockholders $ 1.31 $ (0.07 ) $ 2.40 $ 0.87

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Oct. 01, 2022
Inventory Disclosure [Abstract]
Schedule of inventory	October 1, 2022 April 2, 2022 Raw materials $ 118,612 $ 112,651 Work in process 128,860 122,983 Finished goods 310,329 280,506 $ 557,801 $ 516,140

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill balances, by segment	Aerospace/ Industrial Total April 2, 2022 $ 194,124 $ 1,707,980 $ 1,902,104 Acquisition (1) — (22,912 ) (22,912 ) Translation adjustments — (6,503 ) (6,503 ) October 1, 2022 $ 194,124 $ 1,678,565 $ 1,872,689 (1) Purchase accounting adjustments to goodwill associated with the acquisition of Dodge discussed further in Note 13.
Schedule of intangible assets	October 1, 2022 April 2, 2022 Weighted Average Useful Lives (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 17,645 $ 50,878 $ 16,680 Customer relationships and lists 24 1,293,729 80,225 1,294,577 53,376 Trade names 25 216,317 19,639 216,340 15,073 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 13,017 6,878 12,342 6,607 Domain names 10 437 437 437 437 Other 5 14,469 3,288 9,720 4,887 1,589,569 128,834 1,585,016 97,782 Non-amortizable repair station certifications n/a 24,281 — 24,281 — Total 24 $ 1,613,850 $ 128,834 $ 1,609,297 $ 97,782
Schedule of estimated amortization expense	Remainder of Fiscal 2023 $ 34,307 Fiscal 2024 68,040 Fiscal 2025 67,926 Fiscal 2026 66,634 Fiscal 2027 65,591 Fiscal 2028 64,832 Fiscal 2029 and thereafter 1,093,405

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Oct. 01, 2022
Disclosure Text Block Supplement [Abstract]
Schedule of accrued expenses and other current liabilities	October 1, 2022 April 2, 2022 Employee compensation and related benefits $ 35,982 $ 34,697 Taxes 8,447 11,706 Contract liabilities 22,414 19,556 Accrued rebates 38,829 35,234 Workers’ compensation and insurance 1,067 1,144 Acquisition costs 2,487 4,568 Current finance lease liabilities 4,686 3,863 Accrued preferred stock dividends 4,919 4,919 Interest 10,685 10,987 Audit fees 464 599 Legal 925 450 Returns and warranties 8,409 7,889 Other 8,270 9,640 $ 147,584 $ 145,252

Debt (Tables)

Debt (Tables)	6 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Schedule of balances payable under all borrowing facilities	October 1, 2022 April 2, 2022 Revolver and term loan facilities $ 1,030,000 $ 1,200,000 Senior notes 500,000 500,000 Debt issuance costs (16,557 ) (20,895 ) Other 8,671 9,236 Total debt 1,522,114 1,688,341 Less: current portion 1,512 1,543 Long-term debt $ 1,520,602 $ 1,686,798

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Oct. 01, 2022
Reportable Segments [Abstract]
Schedule of reportable segment	Three Months Ended Six Months Ended October 1, October 2, October 1, October 2, Net External Sales Aerospace/Defense $ 103,548 $ 92,915 $ 202,947 $ 183,280 Industrial 265,619 67,985 520,300 133,825 $ 369,167 $ 160,900 $ 723,247 $ 317,105 Gross Margin Aerospace/Defense $ 41,033 $ 36,580 $ 79,633 $ 75,212 Industrial 110,114 25,884 212,666 51,025 $ 151,147 $ 62,464 $ 292,299 $ 126,237 Selling, General & Administrative Expenses Aerospace/Defense $ 7,472 $ 7,287 $ 14,940 $ 14,535 Industrial 30,101 5,918 60,073 11,665 Corporate 19,946 27,018 38,334 45,235 $ 57,519 $ 40,223 $ 113,347 $ 71,435 Operating Income Aerospace/Defense $ 31,480 $ 26,521 $ 60,984 $ 56,111 Industrial 60,050 19,813 113,345 39,199 Corporate (19,513 ) (29,760 ) (37,842 ) (49,423 ) $ 72,017 $ 16,574 $ 136,487 $ 45,887 October 1, April 2, Total Assets Aerospace/Defense $ 789,204 $ 776,505 Industrial 3,824,386 3,920,957 Corporate 113,470 147,955 $ 4,727,060 $ 4,845,417

Dodge Acquisition (Tables)

Dodge Acquisition (Tables)	6 Months Ended
	Oct. 01, 2022
Dodge Acquisition Abstract
Schedule of assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition	November 1, Cash and cash equivalents $ 81,868 Accounts receivable 83,533 Inventory 136,376 Prepaid expenses and other current assets 1,261 Property, plant and equipment 165,109 Operating lease assets 9,768 Goodwill 1,601,881 Other intangible assets 1,385,082 Other noncurrent assets 3,672 Accounts payable (69,757 ) Accrued rebates (30,184 ) Accrued expenses and other current liabilities (44,766 ) Deferred tax liabilities (299,711 ) Other noncurrent liabilities (56,989 ) Net assets acquired 2,967,143 Less cash received 81,868 Net consideration $ 2,885,275

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 01, 2021	Oct. 01, 2022	Oct. 01, 2021	Apr. 02, 2022	Nov. 01, 2021
Revenue from Contract with Customer [Abstract]
Aggregate amount of the transaction price allocated to remaining performance obligations	$ 305,457		$ 305,457
Performance obligations expected to be satisfied in the future			The Company expects to recognize revenue on approximately 63% and 91% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.
Current contract assets	4,707		$ 4,707		$ 3,882
Current contract liabilities	22,414		22,414		19,556
Revenue recognized included in the contract liability	3,606	$ 2,129	7,474	$ 6,779
Noncurrent contract liabilities	9,295		9,295		10,401
Accrued rebates	$ 38,829		$ 38,829		$ 35,234	$ 30,184

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details) - Schedule of disaggregates total revenue by reportable segments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenue, Major Customer [Line Items]
Net sales	$ 369,167	$ 160,900	$ 723,247	$ 317,105
Aerospace/Defense [Member]
Revenue, Major Customer [Line Items]
Net sales	103,548	92,915	202,947	183,280
Industrial [Member]
Revenue, Major Customer [Line Items]
Net sales	$ 265,619	$ 67,985	$ 520,300	$ 133,825

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Details) - Schedule of disaggregates total revenue by geographic origin - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 369,167	$ 160,900	$ 723,247	$ 317,105
United States [Member]
Disaggregation of Revenue [Line Items]
Net sales	324,774	144,074	635,404	283,864
International [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 44,393	$ 16,826	$ 87,843	$ 33,241

Revenue from Contracts with C_6

Revenue from Contracts with Customers (Details) - Schedule of percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue	100%	100%	100%	100%
Point-in-time [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue	98%	96%	98%	96%
Over time [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue	2%	4%	2%	4%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of accumulated other comprehensive income (loss), net of taxes $ in Thousands	6 Months Ended
	Oct. 01, 2022 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (5,800)
Other comprehensive income (loss) before reclassifications	(15,478)
Amounts recorded in/reclassified from accumulated other comprehensive income (loss)	1,070
Net current period other comprehensive income (loss)	(14,408)
Ending balance	(20,208)
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	860
Other comprehensive income (loss) before reclassifications	(15,478)
Amounts recorded in/reclassified from accumulated other comprehensive income (loss)
Net current period other comprehensive income (loss)	(15,478)
Ending balance	(14,618)
Pension and Postretirement Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(6,660)
Other comprehensive income (loss) before reclassifications
Amounts recorded in/reclassified from accumulated other comprehensive income (loss)	1,070
Net current period other comprehensive income (loss)	1,070
Ending balance	$ (5,590)

Net Income_(Loss) Per Share A_3

Net Income/(Loss) Per Share Available to Common Stockholders (Details) - shares	3 Months Ended	6 Months Ended
	Oct. 01, 2022	Oct. 01, 2022	Oct. 02, 2021
Net Income/(Loss) Per Share Available to Common Stockholders (Details) [Line Items]
Conversion percentage		5%
Conversion, shares		4,600,000
Employee Stock Options [Member]
Net Income/(Loss) Per Share Available to Common Stockholders (Details) [Line Items]
Number of shares	90,796	110,692	159,925
Restricted Stock [Member]
Net Income/(Loss) Per Share Available to Common Stockholders (Details) [Line Items]
Number of shares	485	9,780

Net Income_(Loss) Per Share A_4

Net Income/(Loss) Per Share Available to Common Stockholders (Details) - Schedule of basic and diluted net income per common share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Schedule Of Basic And Diluted Net Income Per Common Share Abstract
Net income/(loss)	$ 43,802	$ (1,352)	$ 81,240	$ 22,686
Preferred stock dividends	5,750	510	11,500	510
Net income/(loss) available to common stockholders	$ 38,052	$ (1,862)	$ 69,740	$ 22,176
Denominator for basic net income/(loss) per share available to common stockholders — weighted-average shares outstanding	28,758,403	25,500,393	28,714,445	25,260,728
Effect of dilution due to employee stock awards	335,388		305,958	372,117
Denominator for diluted net income/(loss) per share available to common stockholders — weighted-average shares outstanding	29,093,791	25,500,393	29,020,403	25,632,845
Basic net income/(loss) per share available to common stockholders	$ 1.32	$ (0.07)	$ 2.43	$ 0.88
Diluted net income/(loss) per share available to common stockholders	$ 1.31	$ (0.07)	$ 2.4	$ 0.87

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Fair Value Disclosures [Abstract]
Long-term fixed-rate debt, based on quoted market prices	$ 421,745	$ 463,750
Carrying value of debt amount	$ 492,822	$ 492,396

Inventory (Details) - Schedule

Inventory (Details) - Schedule of inventory - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Schedule Of Inventory Abstract
Raw materials	$ 118,612	$ 112,651
Work in process	128,860	122,983
Finished goods	310,329	280,506
Inventory, Net, Total	$ 557,801	$ 516,140

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 16,755	$ 2,825	$ 34,059	$ 5,409

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details) - Schedule of goodwill balances, by segment $ in Thousands	6 Months Ended
	Oct. 01, 2022 USD ($)
Goodwill [Line Items]
Balance at beginning	$ 1,902,104
Acquisition	(22,912)	[1]
Translation adjustments	(6,503)
Balance at end	1,872,689
Aerospace/ Defense [Member]
Goodwill [Line Items]
Balance at beginning	194,124
Acquisition		[1]
Translation adjustments
Balance at end	194,124
Industrial [Member]
Goodwill [Line Items]
Balance at beginning	1,707,980
Acquisition	(22,912)	[1]
Translation adjustments	(6,503)
Balance at end	$ 1,678,565
[1]Purchase accounting adjustments to goodwill associated with the acquisition of Dodge discussed further in Note 13.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details) - Schedule of intangible assets - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2022	Apr. 02, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,589,569	$ 1,585,016
Accumulated Amortization	$ 128,834	97,782
Non-amortizable repair station certifications, Weighted Average Useful Lives	n/a
Non-amortizable repair station certifications, Gross Carrying Amount	$ 24,281	24,281
Total, Weighted Average Useful Lives	24 years
Total, Gross Carrying Amount	$ 1,613,850	1,609,297
Total, Accumulated Amortization	$ 128,834	97,782
Product Approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 50,878	50,878
Accumulated Amortization	$ 17,645	16,680
Customer Relationships and Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 1,293,729	1,294,577
Accumulated Amortization	$ 80,225	53,376
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	25 years
Gross Carrying Amount	$ 216,317	216,340
Accumulated Amortization	$ 19,639	15,073
Distributor Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 722	722
Accumulated Amortization	$ 722	722
Patents and Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	16 years
Gross Carrying Amount	$ 13,017	12,342
Accumulated Amortization	$ 6,878	6,607
Domain Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 437	437
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 14,469	9,720
Accumulated Amortization	$ 3,288	$ 4,887

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Details) - Schedule of estimated amortization expense $ in Thousands	Oct. 01, 2022 USD ($)
Schedule Of Estimated Amortization Expense Abstract
Remainder of Fiscal 2023	$ 34,307
Fiscal 2024	68,040
Fiscal 2025	67,926
Fiscal 2026	66,634
Fiscal 2027	65,591
Fiscal 2028	64,832
Fiscal 2029 and thereafter	$ 1,093,405

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Oct. 01, 2022	Apr. 02, 2022	Nov. 01, 2021
Schedule Of Accrued Expenses And Other Current Liabilities Abstract
Employee compensation and related benefits	$ 35,982	$ 34,697
Taxes	8,447	11,706
Contract liabilities	22,414	19,556
Accrued rebates	38,829	35,234	$ 30,184
Workers’ compensation and insurance	1,067	1,144
Acquisition costs	2,487	4,568
Current finance lease liabilities	4,686	3,863
Accrued preferred stock dividends	4,919	4,919
Interest	10,685	10,987
Audit fees	464	599
Legal	925	450
Returns and warranties	8,409	7,889
Other	8,270	9,640
Accrued expenses and other current liabilities	$ 147,584	$ 145,252

Debt (Details)

Debt (Details) SFr in Thousands, $ in Thousands		6 Months Ended
	Oct. 07, 2021 USD ($)	Oct. 01, 2022 USD ($)	Nov. 01, 2021 USD ($)	Aug. 15, 2019 USD ($)	Aug. 15, 2019 CHF (SFr)
Debt Instrument [Line Items]
Commitment fee rate		0.20%
Credit fee rate		1.50%
Future principal payments for fiscal 2023		$ 0
Future principal payments for fiscal 2024		0
Future principal payments for fiscal 2025		0
Future principal payments for fiscal 2026		87,500
Future principal payments for fiscal 2027		942,500
Line of credit facility		1,030,000
Revolving credit facility		$ 496,325
Aggregate principal amount	$ 500,000
Principal amount percentage	4.375%
Net proceeds from issuance of senior notes	$ 491,992
Interest rate		4.375%
Term Loan Facility [Member]
Debt Instrument [Line Items]
Term loan			$ 1,300,000
Revolver [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis		Amounts outstanding under the Facilities generally bear interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 1/2 of 1.00% and (iii) the one-month LIBOR rate plus 1.00% or (b) the LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company’s consolidated ratio of total net debt to consolidated EBITDA from time to time. Currently, the Company’s margin is 0.50% for base rate loans and 1.50% for LIBOR rate loans. The Facilities are subject to a “LIBOR” floor of 0.00% and contain “hard-wired” LIBOR replacement provisions as set forth in the New Credit Agreement.
Revolving credit facility		$ 3,675
Foreign Term Loan [Member] | Schaublin [Member]
Debt Instrument [Line Items]
Term loan				$ 15,383	SFr 15,000
Foreign Revolver [Member] | Schaublin [Member]
Debt Instrument [Line Items]
Revolving credit facility				$ 15,383	SFr 15,000
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs			14,947
Amended Credit Agreement [Member] | Revolver [Member]
Debt Instrument [Line Items]
Revolving credit facility			$ 500,000
Foreign credit agreements [Member] | Schaublin [Member]
Debt Instrument [Line Items]
Foreign credit agreements, description		The New Credit Agreement requires the Company to comply with various covenants, including the following financial covenants: (a) a maximum Total Net Leverage Ratio of 5.50:1.00, which maximum Total Net Leverage Ratio shall decrease during certain subsequent test periods as set forth in the New Credit Agreement (provided that, no more than once during the term of the Facilities, such maximum ratio applicable at such time may be increased by the Company by 0.50:1.00 for a period of 12 months after the consummation of a material acquisition), and (b) a minimum Interest Coverage Ratio of 2.00:1.00.

Debt (Details) - Schedule of ba

Debt (Details) - Schedule of balances payable under all borrowing facilities - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Schedule Of Balances Payable Under All Borrowing Facilities Abstract
Revolver and term loan facilities	$ 1,030,000	$ 1,200,000
Senior notes	500,000	500,000
Debt issuance costs	(16,557)	(20,895)
Other	8,671	9,236
Total debt	1,522,114	1,688,341
Less: current portion	1,512	1,543
Long-term debt	$ 1,520,602	$ 1,686,798

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Taxes (Details) [Line Items]
Effective income tax rates	18.10%	223.50%	19.90%	25.80%
Tax benefit share based compensation	$ 2,372	$ 91	$ 2,971	$ 2,231
Recognized tax positions	$ 174	$ 100
Effective income tax rate without discrete items	22.90%	53.50%	19.90%	27.20%
Valuation allowance		$ 1,853		$ 1,853
Unrecognized tax positions	$ 3,068		$ 3,068
Income Tax Expense (Benefit)	$ 9,699	$ 2,447	20,165	7,868
Recognized tax positions partially offset			$ 187	$ 60
U.S. Federal Tax Authority [Member]
Income Taxes (Details) [Line Items]
Effective income tax rates	18.10%	223.50%
Effective income tax [Member}
Income Taxes (Details) [Line Items]
Effective income tax rates				25.80%
Effective income tax rate without discrete items			23%

Reportable Segments (Details) -

Reportable Segments (Details) - Schedule of reportable segment - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Apr. 02, 2022
Net External Sales
Net External Sales	$ 369,167	$ 160,900	$ 723,247	$ 317,105
Gross Margin
Gross Margin	151,147	62,464	292,299	126,237
Operating Income
Operating Income	72,017	16,574	136,487	45,887
Total Assets
Total Assets	4,727,060		4,727,060		$ 4,845,417
Aerospace/Defense [Member]
Net External Sales
Net External Sales	103,548	92,915	202,947	183,280
Gross Margin
Gross Margin	41,033	36,580	79,633	75,212
Selling, General & Administrative Expenses
Selling, General & Administrative Expenses	7,472	7,287	14,940	14,535
Operating Income
Operating Income	31,480	26,521	60,984	56,111
Total Assets
Total Assets	789,204		789,204		776,505
Industrial [Member]
Net External Sales
Net External Sales	265,619	67,985	520,300	133,825
Gross Margin
Gross Margin	110,114	25,884	212,666	51,025
Selling, General & Administrative Expenses
Selling, General & Administrative Expenses	30,101	5,918	60,073	11,665
Operating Income
Operating Income	60,050	19,813	113,345	39,199
Total Assets
Total Assets	3,824,386		3,824,386		3,920,957
Corporate [Member]
Selling, General & Administrative Expenses
Selling, General & Administrative Expenses	19,946	27,018	38,334	45,235
Operating Income
Operating Income	(19,513)	$ (29,760)	(37,842)	$ (49,423)
Total Assets
Total Assets	$ 113,470		$ 113,470		$ 147,955

Dodge Acquisition (Details)

Dodge Acquisition (Details) - USD ($)			3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 01, 2021	Oct. 07, 2021	Oct. 01, 2022	Oct. 01, 2022	Apr. 02, 2022
Dodge Acquisition (Details) [Line Items]
Net of cash acquired	$ 2,908,241
Term loan facility, net of issuance costs	1,285,761
Net proceeds from common stock and MCPS offerings	1,050,811
Net proceeds from senior notes offering		$ 491,992,000
Cash on hand	77,469
Purchase price adjustments totaling	22,966
Acquisition costs incurred					$ 22,598
Acquired goodwill which is deductible for tax purposes				$ 44,941
Identifiable intangible assets			$ 1,385,082	1,385,082
Gross intangible asset			1,613,850,000	1,613,850,000	$ 1,609,297,000
Revenue			192,267	369,740
Operating income			38,152	68,646
TSA costs	15,707		3,999	$ 7,704
Senior Notes [Member]
Dodge Acquisition (Details) [Line Items]
Net proceeds from senior notes offering	$ 494,200
Trade Names [Member]
Dodge Acquisition (Details) [Line Items]
Fair value term				25 years
Economic Pattern Benefit [Member] | Customer Relationships [Member]
Dodge Acquisition (Details) [Line Items]
Gross intangible asset			1,185,000	$ 1,185,000
Fair value term				24 years
Straight-line Basis [Member] | Trade Names [Member]
Dodge Acquisition (Details) [Line Items]
Gross intangible asset			$ 200,000	$ 200,000
Fair value term				26 years
Business Combination [Member]
Dodge Acquisition (Details) [Line Items]
Purchase of capital stock, percentage	100%

Dodge Acquisition (Details) - S

Dodge Acquisition (Details) - Schedule of assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022	Nov. 01, 2021
Schedule Of Assets Acquired And Liabilities Assumed Were Recorded Based On Their Fair Values At The Date Of Acquisition Abstract
Cash and cash equivalents			$ 81,868
Accounts receivable			83,533
Inventory			136,376
Prepaid expenses and other current assets			1,261
Property, plant and equipment			165,109
Operating lease assets			9,768
Goodwill			1,601,881
Other intangible assets			1,385,082
Other noncurrent assets			3,672
Accounts payable			(69,757)
Accrued rebates	$ (38,829)	$ (35,234)	(30,184)
Accrued expenses and other current liabilities			(44,766)
Deferred tax liabilities			(299,711)
Other noncurrent liabilities			(56,989)
Net assets acquired			2,967,143
Less cash received			81,868
Net consideration			$ 2,885,275

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ in Thousands	Oct. 28, 2022 USD ($)
Subsequent Events (Details) [Line Items]
Notional maturity amount	$ 600,000
Fixed rate of interest percentage	4.455%
Year 1 [Member]
Subsequent Events (Details) [Line Items]
Notional maturity amount	$ 600,000
Year 2 [Member]
Subsequent Events (Details) [Line Items]
Notional maturity amount	400,000
Year 3 [Member]
Subsequent Events (Details) [Line Items]
Notional maturity amount	$ 100,000