Kaman (KAMN) 10-Q4 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 01, 2022	Jul. 29, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 01, 2022
Document Transition Report	false
Entity File Number	001-35419
Entity Registrant Name	KAMAN CORPORATION
Entity Incorporation, State or Country Code	CT
Entity Tax Identification Number	06-0613548
Entity Address, Address Line One	1332 Blue Hills Avenue,
Entity Address, City or Town	Bloomfield,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06002
City Area Code	(860)
Local Phone Number	243-7100
Title of 12(b) Security	Common Stock ($1 par value)
Trading Symbol	KAMN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,009,838
Entity Central Index Key	0000054381
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 80,244	$ 140,800
Accounts receivable, net	77,692	73,524
Contract assets	109,290	112,354
Contract costs, current portion	909	850
Inventories	214,688	193,100
Income tax refunds receivable	16,194	13,832
Assets Held-for-sale, Not Part of Disposal Group, Current	363	0
Other current assets	15,754	12,083
Total current assets	515,134	546,543
Property, plant and equipment, net of accumulated depreciation of $256,689 and $251,888, respectively	192,769	197,822
Operating Lease, Right-of-Use Asset	8,618	11,011
Goodwill	233,135	240,681
Other intangible assets, net	131,403	138,074
Deferred income taxes	15,335	15,717
Contract costs, noncurrent portion	9,865	10,249
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	901	0
Equity Method Investments	10,000
Other assets	40,937	38,385
Total assets	1,158,097	1,198,482
Current liabilities:
Accounts payable – trade	32,192	42,134
Accrued salaries and wages	29,306	38,892
Contract liabilities, current portion	2,893	2,945
Operating Lease, Liability, Current	3,896	4,502
Income taxes payable	239	386
Other current liabilities	36,275	32,076
Total current liabilities	105,141	120,935
Long-term debt, excluding current portion, net of debt issuance costs	197,542	189,421
Deferred income taxes	6,354	6,506
Underfunded pension	10,978	21,786
Contract liabilities, noncurrent portion	16,528	16,528
Operating Lease, Liability, Noncurrent	5,398	7,140
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	230	0
Other Liabilities, Noncurrent	36,984	39,837
Commitments and contingencies (Note 15)
Shareholders' equity:
Preferred stock, $1 par value, 200,000 shares authorized; none outstanding	0	0
Common stock, $1 par value, 50,000,000 shares authorized; voting; 30,584,400 and 30,434,269 shares issued, respectively	30,584	30,434
Additional paid-in capital	241,597	248,153
Retained earnings	753,985	750,445
Accumulated other comprehensive income (loss)	(125,202)	(111,385)
Less 2,598,056 and 2,573,896 shares of common stock, respectively, held in treasury, at cost	(122,022)	(121,318)
Total shareholders’ equity	778,942	796,329
Total liabilities and shareholders’ equity	1,158,097	1,198,482
Disposal Group, Including Discontinued Operation, Liabilities, Current	340	0
Equity Method Investments	10,000
Near Earth Autonomy
Current assets:
Equity Method Investments	10,000	0
Equity Method Investments	$ 10,000	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Income Statement [Abstract]
Net sales	$ 160,766	$ 182,394	$ 318,814	$ 354,010
Cost of sales	108,659	120,448	216,120	239,159
Gross profit	52,107	61,946	102,694	114,851
Selling, general and administrative expenses	39,250	38,719	78,971	76,847
Research and Development Expense	5,215	3,238	10,328	7,464
Amortization of Intangible Assets	2,439	2,637	4,906	5,274
Costs of Transaction Services Agreement	0	999	0	1,704
Restructuring and severance costs	2,927	1,516	3,096	2,868
Gain (Loss) on Disposition of Business	0	0	0	234
Net (gain) loss on sale of assets	(4)	5	56	15
Operating income	2,280	14,832	5,337	20,445
Interest expense, net	1,993	4,335	4,474	8,586
Non-service pension and post-retirement benefit income	(5,024)	(6,577)	(10,287)	(13,220)
Income from Transaction Services Agreement	0	(442)	0	(917)
Other expense, net	690	158	1,194	447
Earnings before income taxes	4,621	17,358	9,956	25,549
Income tax expense	557	5,502	1,864	5,709
Net earnings	$ 4,064	$ 11,856	$ 8,092	$ 19,840
Earnings per share:
Basic earnings per share (in usd per share)	$ 0.15	$ 0.43	$ 0.29	$ 0.71
Diluted earnings per share (in usd per share)	$ 0.14	$ 0.42	$ 0.29	$ 0.71
Average shares outstanding:
Basic (in shares)	28,005	27,867	27,977	27,841
Diluted (in shares)	28,059	27,913	28,071	27,890

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 4,064	$ 11,856	$ 8,092	$ 19,840
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments and other	(10,261)	1,719	(15,479)	17,232
Change in pension and post-retirement benefit plan liabilities, net of tax expense of $269 and $266 and $497 and $516, respectively	900	899	1,662	1,741
Other comprehensive (loss) income	(9,361)	2,618	(13,817)	18,973
Comprehensive (loss) income	$ (5,297)	$ 14,474	$ (5,725)	$ 38,813

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		24 Months Ended
	Jul. 01, 2022	Jul. 01, 2022	Jul. 02, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Cash Flows [Abstract]
Net earnings	$ 4,064	$ 8,092	$ 19,840
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization		17,654	18,391
Amortization of debt issuance costs		1,024	882
Accretion of convertible notes discount		0	1,484
Provision for doubtful accounts		263	290
Gain (Loss) on Disposition of Business	0	0	234
Net (gain) loss on sale of assets	(4)	56	15
Net loss on derivative instruments		1,646	566
Stock compensation expense	2,730	4,811	4,225
Non-cash consideration received for blade exchange		(827)	0
Deferred income taxes		2,050	2,957
Changes in assets and liabilities, excluding effects of acquisitions/divestitures:
Accounts receivable		(5,430)	53,232
Increase (Decrease) in Contract with Customer, Asset		2,936	(4,637)
Contract costs		324	(349)
Inventories		(24,411)	(12,205)
Income tax refunds receivable		(2,365)	1,485
Operating Right-of-Use Assets		1,748	781
Other assets		(2,817)	1,319
Accounts payable - trade		(9,701)	(24,068)
Contract liabilities		(38)	(18,588)
Operating Lease Liabilities		(1,703)	(919)
Payments for Retention Plans		0	(25,108)
Other current liabilities		(8,635)	(9,470)
Income taxes payable		(160)	1,532
Pension liabilities		(8,873)	(22,837)
Increase (Decrease) in Other Noncurrent Liabilities		(2,598)	(3,775)
Net cash provided by operating activities		(26,954)	(14,723)
Cash flows from investing activities:
Payments for (Proceeds from) Businesses and Interest in Affiliates		0	(3,428)
Expenditures for property, plant & equipment		(10,520)	(8,102)
Payments to Acquire Investments		10,000
Other, net		1,341	(671)
Net cash used in investing activities		(19,179)	(12,201)
Cash flows from financing activities:
Purchase of treasury shares	(123)	(698)	(390)
Dividends paid		(11,163)	(11,106)
Payments of Debt Issuance Costs		(4,236)	0
Other, net		2,319	876
Net cash provided by (used in) financing activities		(13,778)	(10,620)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect		(59,911)	(37,544)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		(645)	(183)
Cash and cash equivalents at beginning of period					$ 136,089
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	80,244	80,244		$ 140,800
Cash and cash equivalents and restricted cash at end of period	$ 80,244	80,244	98,362	$ 140,800
Payments to Acquire Investments		$ 10,000
Near Earth Autonomy
Cash flows from investing activities:
Payments to Acquire Investments			0
Payments to Acquire Investments			$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals)) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 256,689	$ 251,888
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract]
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	200,000	200,000
Preferred Stock, Shares Outstanding	0	0
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	30,584,400	30,434,269
Common stock held in treasury, at cost (in shares)	2,598,056	2,573,896

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	$ 269	$ 266	$ 497	$ 516
Net earnings	4,064	11,856	8,092	19,840
Foreign currency translation adjustments and other	(10,261)	1,719	(15,479)	17,232
Change in pension and post-retirement benefit plan liabilities, net of tax expense of $269 and $266 and $497 and $516, respectively	900	899	1,662	1,741
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(9,361)	2,618	(13,817)	18,973
Comprehensive (loss) income	$ (5,297)	$ 14,474	$ (5,725)	$ 38,813

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jul. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Following the sale of the Company's Distribution business in 2019, the Company operated as one segment. In the fourth quarter of 2021, our Chief Operating Decision Maker ("CODM") established a new structure for the Company to better align the Company's businesses to support capital allocation plans, portfolio management and growth. This new structure resulted in the introduction of three reportable segments: Engineered Products, Precision Products and Structures. See Note 5, Revenue and Segment Information , for 2022 financial results by segment and a recast of financial results by segment for the three-month and six-month fiscal periods ended July 2, 2021. During the second quarter of 2022, the Company entered into an asset purchase agreement to sell certain assets and liabilities of its Mexico operations in the Structures segment. As a result of the agreement, the assets and liabilities of the Mexico operations to be sold were reclassified to assets and liabilities held for sale, respectively, as of July 1, 2022 on the Company's Condensed Consolidated Balance Sheet as the criteria set forth in Accounting Standards Codification 205-20, Presentation of Financial Statements - Discontinued Operations ("ASC 205-20") for held for sale were met. See Note 3, Disposals , to the Condensed Consolidated Financial Statements for further information. This transaction closed on July 29, 2022. In the opinion of management, the condensed consolidated financial information reflects all adjustments necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented, but do not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Company has a calendar year-end; however, its first three fiscal quarters follow a 13-week convention, with each quarter ending on a Friday. The second quarters for 2022 and 2021 ended on July 1, 2022, and July 2, 2021, respectively.

Recent Accounting Standards Rec

Recent Accounting Standards Recent Accounting Standards (Notes)	6 Months Ended
	Jul. 01, 2022
Recent Accounting Standards [Abstract]
Recent Accounting Standards	RECENT ACCOUNTING STANDARDS Recent Accounting Standards Adopted In May 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2021-04, "Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force)". The objective of this standard update is to clarify and reduce diversity in an issuer's accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The guidance clarifies whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as either an adjustment to equity and, if so, the related earnings per share ("EPS") effects, if any, or as an expense and, if so, the manner and pattern of recognition. The standard update is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, including adoption in an interim period. The Company adopted this standard on January 1, 2022. The adoption of this standard update did not have a material impact on the Company's consolidated financial statements. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Adopted - continued In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity". The objective of this standard update is to simplify the accounting for certain financial instruments with characteristics of liabilities and equity. The update removes certain separation models between a debt component and equity or derivative component for certain convertible instruments. Entities that previously required separate accounting for conversion features will report less interest expense as those conversion features were recorded as debt discounts which were amortized over the term of the debt. In addition, this ASU adds new disclosure requirements for convertible instruments to improve the decision usefulness and relevance of the information being provided to users of financial statements, clarifies the guidance for determining whether a contract qualifies for a scope exception from derivative accounting, and requires the application of the if-converted method when calculating diluted EPS guidance to improve consistency. The standard update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption of the standard was permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. An entity should adopt the guidance as of the beginning of its annual fiscal year and can do so using a modified retrospective method or fully retrospective method of transition. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective basis which resulted in a cumulative effect adjustment to the opening balance sheet. The prior period condensed consolidated financial statements have not been retroactively adjusted and continue to be reported under the accounting standard in effect for the period. The cumulative effect of the adjustments recorded to the opening balance sheet on January 1, 2022 for the adoption of ASU 2020-06 was as follows: in thousands Balance at December 31, 2021 Adjustments due to ASU 2020-06 Balance at January 1, 2022 Assets Deferred income taxes $ 15,717 $ 1,770 $ 17,487 Liabilities Long-term debt, excluding current portion, net of debt issuance costs $ 189,421 $ 7,624 $ 197,045 Equity Additional paid-in capital $ 248,153 $ (12,489) $ 235,664 Retained earnings $ 750,445 $ 6,635 $ 757,080 Beginning in 2022, the Company will calculate diluted EPS using the if-converted method for its convertible debt instruments, which is not expected to have a material impact on the consolidated results. Historically, the Company used the treasury stock method to calculate diluted EPS for its convertible debt instruments. In the second quarter of 2022, there was no impact as diluted EPS calculated to $0.14 and $0.29, respectively, using both the if-converted method and treasury stock method. Refer to Note 13, Debt, for further information on the Company's convertible notes. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Yet to be Adopted In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method". The amendments in this standard update expand the current last-of-layer method of hedge accounting that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in ASU 2017-12 for the corresponding period. If an entity adopts the amendments in an interim period, the effect of adopting the amendments related to basis adjustments should be reflected as of the beginning of the fiscal year of adoption. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future hedging activity. In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers". The amendments in this standard update address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination and require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption of the standard is permitted, including adoption in an interim period. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future business combinations. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting". The objective of the standard is to address operational challenges likely to arise in accounting for contract modifications and hedge accounting due to reference rate reform. The amendments in this ASU provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The standard update is effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by topic or industry subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. Once elected for a topic or industry subtopic, the amendments in this standard update must be applied prospectively for all eligible contract modifications for that topic or industry subtopic. An entity may elect to apply the amendments for eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. If an entity elects to apply any of the amendments for an eligible hedging relationship existing as of the beginning of the interim period that includes March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of that interim period. If an entity elects to apply any of the amendments for a new hedging relationship entered into between the beginning of the interim period that includes March 12, 2020 and March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of the hedging relationship. In December 2021, the Company amended its credit agreement to move its LIBOR benchmark for non-USD borrowings to other non-USD benchmark rates. Future USD borrowings under this current Credit Agreement will continue to be based on LIBOR. The impact of the adoption of this standard update is dependent on the Company's contracts modifications as a result of reference rate reform; however, the Company does not expect the adoption of the amendments associated with hedging relationships to have a material impact on the Company's consolidated financial statements. Subsequent to the issuance of ASU 2020-04, the FASB issued the following update: ASU 2021-01, "Reference Rate Reform (Topic 848) - Scope". The amendments in this update affect the guidance within ASU 2020-04 and are being assessed with ASU 2020-04.

Disposals

Disposals	6 Months Ended
Disposals	Jul. 01, 2022
Discontinued Operations [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	. DISPOSALS Mexico Business In the second quarter of 2022, the Company entered into an asset purchase agreement to sell certain assets and liabilities of its Mexico operations in the Structures segment. Subsequent to the end of the quarter, the transaction closed on July 29, 2022. The transaction does not meet the criteria set forth in ASC 205-20 for discontinued operations as it does not reflect a significant shift in the Company's strategy. As a result of the asset purchase agreement, the related assets and liabilities of the Mexico operations to be sold were reclassified to assets held for sale and liabilities held for sale, respectively, as of July 1, 2022 on the Company's Condensed Consolidated Balance Sheets as the criteria set forth in ASC 205-20 for held for sale presentation were met. UK Composites Business In the fourth quarter of 2020, the Company received approval from its Board of Directors to sell its United Kingdom ("UK") Composites division. The sale of the UK Composites business did not meet the criteria set forth in ASC 205-20 for discontinued operations as it did not reflect a significant shift in the Company's strategy. As a result of the approved plan, the UK Composites division met the criteria set forth in ASC 205-20 for held for sale presentation at December 31, 2020. At December 31, 2020, the assets of the UK Composites business were considered impaired as the estimated fair value of the disposal group was lower than the estimated carrying value of the UK Composites business. As such, the assets of the UK Composites business were written off and the related liabilities of the UK division to be sold were reclassified to liabilities held for sale, as of December 31, 2020 on the Company's Consolidated Balance Sheet. The Company recorded an impairment loss of $36.3 million in the year ended December 31, 2020. The Company sold its UK Composites division in a transaction that closed on February 2, 2021. In the first quarter of 2021, when the sale was finalized, the Company recorded an additional loss of $0.2 million, which was included in loss on sale of business on the Company's Condensed Consolidated Statement of Operations for the six-month fiscal period ended July 2, 2021, resulting in a total loss on the sale of the UK Composites business of $36.5 million. Cash and cash equivalents and restricted cash at the beginning of the period on the Company's Condensed Consolidated Statement of Cash Flows for the six-month fiscal period ended July 2, 2021 included $6.6 million of cash that was included in the UK Composites business disposal group. Given the assets of the disposal group were recognized net of the impairment recorded in the year ended December 31, 2020, such amounts were not reflected on the Company's Consolidated Balance Sheet at December 31, 2020. Distribution Business On August 26, 2019, the Company completed the sale of its Distribution business. Upon closing, the Company entered into a transition services agreement ("TSA") with the buyer, pursuant to which the Company agreed to support the information technology ("IT"), human resources and benefits, tax and treasury functions of the Distribution business for six to twelve months. The buyer exercised an option to extend the support period for up to one additional year for certain services. During the third quarter of 2021, the TSA expired and all services were completed as of the end of the period. As such, there was no activity associated with the TSA in 2022. Through the term of the TSA, the Company incurred $18.9 million in costs and earned $13.0 million in income associated with the TSA. Of these amounts, $1.0 million and $1.7 million in costs were incurred and $0.4 million and $0.9 million in income was earned in three-month and six-month fiscal periods ended July 2, 2021, respectively. These amounts were included in costs from transition services agreement and income from transition services agreement on the Company's Condensed Consolidated Statements of Operations, respectively. Since the sale of the Distribution business, cash outflows from the Company to its former Distribution business totaled $8.7 million through July 1, 2022, which primarily related to Distribution employee and employee-related costs incurred prior to the sale. There were no cash flows from the Company to its former Distribution business in the six-month fiscal periods ended July 1, 2022 and July 2, 2021. Since the sale of the Distribution business, cash inflows from the Company's former Distribution business to the Company totaled $19.1 million through July 1, 2022, which primarily related to cash received for services performed under the TSA and the $5.2 million working capital adjustment settled in the first quarter of 2020. Cash inflows from the Company's former Distribution business received in the six-month fiscal period ended July 2, 2021 totaled $1.5 million. Cash inflows from the former Distribution business were not material in 2022.

Business Combinations

Business Combinations	6 Months Ended
Business Combinations	Jul. 01, 2022
Acquisitions [Abstract]
Business Combination Disclosure	4. BUSINESS COMBINATIONS AND INVESTMENTS Near Earth Autonomy On June 22, 2022, the Company invested $10.0 million in Near Earth Autonomy, Inc. ("Near Earth"), in exchange for a minority interest in the outstanding equity of Near Earth and one seat on its Board of Directors. This investment supports Near Earth's mission to accelerate its technology to establish an industry standard in autonomous solutions for the next generation of aviation and leverages the Company's core competency in precision parts manufacturing as the preferred manufacturer of autonomous parts and components for Near Earth. Since 2019, Near Earth has been a partner on the autonomous technology for the Company's K-MAX TITAN unmanned aerial system and the KARGO UAV unmanned aerial system, a purpose built autonomous medium lift logistics vehicle. In accordance with ASC 321, Investments - Equity Securities , the Company elected to apply the measurement alternative and accounted for the investment as an equity interest, initially measured at cost. The investment was included in Investment in Near Earth Autonomy on the Company's Condensed Consolidated Balance Sheets as of July 1, 2022. Upon observable transaction prices or impairment, the Company will remeasure the investment at fair value. Aircraft Wheel & Brake On May 21, 2022, the Company entered into an asset purchase agreement with Parker-Hannifin Corporation ("Parker"), pursuant to which the Company will acquire Parker's Aircraft Wheel and Brake division for a total purchase price of $440.0 million payable in cash, subject to a customary working capital adjustment. Parker is divesting this portion of its business in order to secure approval from certain governmental authorities in connection with its previously announced offer to acquire Meggitt PLC ("Meggitt"). The Company has obtained a financing commitment, subject to customary conditions, that will provide it with sufficient cash to consummate the closing. The closing of this transaction is expected to occur before December 31, 2022. The timing of closing will be contingent upon the receipt of regulatory approvals, including the European Commission’s process with respect to its consideration of Parker’s acquisition of Meggitt. Bal Seal On January 3, 2020, the Company acquired all of the equity interests of Bal Seal Engineering ("Bal Seal"), of Foothill Ranch, California, at a purchase price of $317.5 million . Upon closing, the Company funded $24.7 million associated with employee retention plans at Bal Seal. This amount and related interest was included in restricted cash on the Company's Consolidated Balance Sheets as of December 31, 2020. Eligible participants received an allocation of the escrow balance one year following the acquisition date, which was reflected in the Company's cash flows from operating activities for the six-month fiscal period ended July 2, 2021.

Segment and Geographic Informat

Segment and Geographic Information (Notes)	6 Months Ended
Segment and Geographic Information (Notes)	Jul. 01, 2022
Revenue [Abstract]
Segment Reporting Disclosure	5. REVENUE AND SEGMENT INFORMATION The Company is organized based upon the nature of its products and services, and is composed of three operating segments, each overseen by a segment manager. These segments are reflective of how the Company’s Chief Executive Officer, who is its CODM, reviews operating results for the purposes of allocating resources and assessing performance. The Company has not aggregated operating segments for purposes of identifying reportable segments. The Engineered Products segment serves the aerospace and defense, industrial and medical markets providing sophisticated proprietary aircraft bearings and components; super precision, miniature ball bearings; and proprietary spring energized seals, springs and contacts. The Precision Products segment serves the aerospace and defense markets providing precision safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of the Company's SH-2G Super Seasprite maritime helicopters; manufacture and support of the heavy lift K-MAX ® manned helicopter, the K-MAX TITAN unmanned aerial system and the KARGO UAV unmanned aerial system, a purpose built autonomous medium lift logistics vehicle. The Structures segment serves the aerospace and defense and medical end markets providing sophisticated complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft, and medical imaging solutions. Summarized financial information by business segment is as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Net sales: Engineered Products $ 89,765 $ 78,956 $ 171,217 $ 150,735 Precision Products 41,267 71,539 88,816 132,072 Structures 29,734 31,899 58,781 71,203 Net sales $ 160,766 $ 182,394 $ 318,814 $ 354,010 Operating income (loss): Engineered Products $ 15,467 $ 9,758 $ 26,509 $ 14,664 Precision Products 2,550 19,429 5,959 32,482 Structures (830) (1,521) (1,447) (1,201) Corporate expense (11,984) (10,314) (22,532) (20,679) Other unallocated expenses, net (1) (2,923) (2,520) (3,152) (4,821) Operating income $ 2,280 $ 14,832 $ 5,337 $ 20,445 (1) Other unallocated expenses, net include costs from the TSA, restructuring and severance costs, loss on sale of business, and net (gain) loss on sale of assets. 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue The following tables disaggregate segment revenue by major product line: For the Three Months Ended July 1, 2022 Engineered Products Precision Products Structures Total In thousands Defense $ 9,342 $ 6,629 $ 16,098 $ 32,069 Safe and Arm Devices — 21,563 — 21,563 Commercial, Business & General Aviation 37,644 11,895 11,319 60,858 Medical 22,683 — 2,317 25,000 Industrial & Other 20,096 1,180 — 21,276 Total revenue $ 89,765 $ 41,267 $ 29,734 $ 160,766 For the Three Months Ended July 2, 2021 Engineered Products Precision Products Structures Total In thousands Defense $ 11,857 $ 7,259 $ 20,664 $ 39,780 Safe and Arm Devices — 58,006 — 58,006 Commercial, Business & General Aviation 26,860 4,872 9,398 41,130 Medical 21,025 — 1,837 22,862 Industrial & Other 19,214 1,402 — 20,616 Total revenue $ 78,956 $ 71,539 $ 31,899 $ 182,394 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue - continued For the Six Months Ended July 1, 2022 Engineered Products Precision Products Structures Total In thousands Defense $ 18,995 $ 11,951 $ 32,353 $ 63,299 Safe and Arm Devices — 58,885 — 58,885 Commercial, Business & General Aviation 70,022 15,662 22,132 107,816 Medical 43,832 — 4,296 48,128 Industrial & Other 38,368 2,318 — 40,686 Total revenue $ 171,217 $ 88,816 $ 58,781 $ 318,814 For the Six Months Ended July 2, 2021 Engineered Products Precision Products Structures Total In thousands Defense $ 23,085 $ 14,253 $ 46,053 $ 83,391 Safe and Arm Devices — 99,592 — 99,592 Commercial, Business & General Aviation 51,932 15,774 21,382 89,088 Medical 39,677 — 3,768 43,445 Industrial & Other 36,041 2,453 — 38,494 Total revenue $ 150,735 $ 132,072 $ 71,203 $ 354,010 Impacts from Current Economy The U.S. economy is experiencing broad and rapid inflation and rising interest rates, as well as supply issues in material, services and labor due to economic policy, the coronavirus ("COVID-19") pandemic and, more recently, the war in Ukraine. These impacts are likely to persist through 2022 and beyond. We cannot predict the impact on the Company’s end markets or input costs nor the ability of the Company to recover cost increases through pricing. The Company has implemented strategies to limit the risk COVID-19 poses to its operations with a continued focus on the health of its employees and the satisfaction of its customers’ requirements. Despite all of these efforts, the effects of the pandemic have adversely impacted our commercial end markets, more specifically Commercial, Business and General Aviation customers. Management is encouraged by the recoveries for these products and the strong order intake seen in the first six months of 2022. The extent and duration of time to which COVID-19 may adversely impact the Company depends on future developments, which continue to be uncertain and unpredictable. 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue - continued The following table disaggregates total revenue by product types. For the Three Months Ended For the Three Months Ended July 1, 2022 July 2, 2021 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 43 % 6 % 18 % 67 % 34 % 3 % 18 % 55 % Aftermarket 13 % 7 % — % 20 % 9 % 4 % — % 13 % Safe and Arm Devices — % 13 % — % 13 % — % 32 % — % 32 % Total revenue 56 % 26 % 18 % 100 % 43 % 39 % 18 % 100 % For the Six Months Ended For the Six Months Ended July 1, 2022 July 2, 2021 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 42 % 5 % 18 % 65 % 34 % 5 % 20 % 59 % Aftermarket 12 % 5 % — % 17 % 9 % 4 % — % 13 % Safe and Arm Devices — % 18 % — % 18 % — % 28 % — % 28 % Total revenue 54 % 28 % 18 % 100 % 43 % 37 % 20 % 100 % Disaggregation of Research and Development Costs The following table presents research and development costs by segment: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Engineered Products $ 2,121 $ 1,781 $ 4,364 $ 4,603 Precision Products 2,984 1,436 5,787 2,838 Structures 110 21 177 23 Total research and development costs $ 5,215 $ 3,238 $ 10,328 $ 7,464 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Other For contracts in which revenue is recognized over time, the Company performs detailed quarterly reviews of the progress and execution of its performance obligations under these contracts. As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule, identified risks and opportunities and the related changes in estimates of revenues and costs. The risks and opportunities include management's judgment about the ability and cost to achieve the schedule (e.g., the number and type of milestone events), technical requirements (e.g., a newly-developed product versus a mature product) and other contract requirements. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), execution by subcontractors, the availability and timing of funding from customers and overhead cost rates, among other variables. Based upon these reviews, the Company will record the effects of adjustments in profit estimates each period. If at any time management determines that in the case of a particular contract total costs will exceed total contract revenue, a provision for the entire anticipated contract loss is recorded at that time. Net changes in revenue associated with cost growth on the Company's over time contracts were as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Net increase (decrease) in revenue due to change in profit estimates $ 567 $ (3,446) $ 1,472 $ (581) In the three-month and six-month fiscal periods ended July 1, 2022, the net increases in revenue were primarily related to favorable cost performance on the joint programmable fuze ("JPF") contract with the U.S. Government ("USG"), partially offset by cost growth on certain structures programs and legacy fuzing contracts. The net reductions in revenue in the three-month and six-month fiscal periods ended July 2, 2021 were primarily related to cost growth on certain structures programs and missile fuzing contracts, partially offset by favorable cost performance on the completion of the SH-2 program with New Zealand. Additionally, for the six-month fiscal period ended July 2, 2021, the net decrease in revenue was offset by favorable cost performance on the JPF contract with the USG. Unfulfilled Performance Obligations Unfulfilled performance obligations ("backlog") represents the transaction price of firm orders for which work has not been performed and excludes unexercised contract options and potential orders under ordering-type contracts. Backlog at July 1, 2022 and December 31, 2021, and the portion of backlog the Company expects to recognize revenue on over the next twelve months is as follows: July 1, 2022 (1) December 31, (in thousands) Engineered Products $ 224,563 $ 169,144 Precision Products 196,406 180,082 Structures 353,939 351,697 Total Backlog $ 774,908 $ 700,923 (1) The Company expects to recognize revenue on approximately 59% of backlog as of July 1, 2022 over the next twelve months.

Restructuring Costs

Restructuring Costs	6 Months Ended
Restructuring Costs	Jul. 01, 2022
Restructuring Costs [Abstract]
Restructuring Costs	6. RESTRUCTURING AND SEVERANCE COSTS The Company has identified workforce reductions and other reductions in certain general and administrative expenses, which resulted in $1.9 million and $2.1 million in restructuring and severance costs in the three-month and six-month fiscal periods ended July 1, 2022. In the three-month and six-month fiscal periods ended July 2, 2021, the Company incurred $1.5 million and $2.9 million in restructuring and severance costs. These costs were included in restructuring and severance costs on the Company's Condensed Consolidated Statements of Operations. Other Matters

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
Accounts Receivable, Net	Jul. 01, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Net	ACCOUNTS RECEIVABLE, NET Accounts receivable, net consisted of the following: July 1, December 31, In thousands Trade receivables $ 29,274 $ 19,228 U.S. Government contracts: Billed 15,605 14,748 Cost and accrued profit - not billed 275 167 Commercial and other government contracts Billed 33,844 36,787 Cost and accrued profit - not billed — 4,141 Less allowance for doubtful accounts (1,306) (1,547) Accounts receivable, net $ 77,692 $ 73,524 The Company performs ongoing evaluations of its customers’ current creditworthiness, as determined by the review of their credit information, to determine if events have occurred subsequent to the recognition of revenue and the related receivable that provide evidence that such receivable will be realized in an amount less than that recognized at the time of sale. Estimates of credit losses are based on historical losses, current economic conditions, geographic considerations, and in some cases, evaluating specific customer accounts for risk of loss. The following table summarizes the activity in the allowance for doubtful accounts in the six-month fiscal period ended July 1, 2022: In thousands Balance at December 31, 2021 $ (1,547) Provision (257) Amounts written off 197 Recoveries 297 Changes in foreign currency exchange rates 4 Balance at July 1, 2022 $ (1,306) 7. ACCOUNTS RECEIVABLE, NET (CONTINUED) Accounts receivable, net includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts are as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 900

Contract Assets, Contract Costs

Contract Assets, Contract Costs and Contract Liabilities	6 Months Ended
Contract Assets, Contract Costs and Contract Liabilities	Jul. 01, 2022
Revenue from Contract with Customer [Abstract]
Contract Assets, Contract Costs and Contract Liabilities	Activity related to contract assets, contract costs and contract liabilities was as follows: July 1, December 31, 2021 $ Change % Change In thousands Contract assets $ 109,290 $ 112,354 $ (3,064) (2.7) % Contract costs, current portion $ 909 $ 850 $ 59 6.9 % Contract costs, noncurrent portion $ 9,865 $ 10,249 $ (384) (3.7) % Contract liabilities, current portion $ 2,893 $ 2,945 $ (52) (1.8) % Contract liabilities, noncurrent portion $ 16,528 $ 16,528 $ — — % Contract Assets The decrease in contract assets was primarily due to higher amounts billed in the current period on the JPF program, the Sikorsky BLACK HAWK program and the AH-1Z program compared to the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations for work performed and not yet billed on certain structures programs and an aftermarket precision products program. There were no significant impairment losses related to the Company's contract assets during the three-month and six-month fiscal periods ended July 1, 2022 and July 2, 2021. Contract assets includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts were as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 682 Contract Costs At July 1, 2022 and December 31, 2021, costs to fulfill a contract were $10.8 million and $11.1 million, respectively. These amounts were included in contract costs, current portion and contract costs, noncurrent portion on the Company's Condensed Consolidated Balance Sheets at July 1, 2022 and December 31, 2021. There were no costs to obtain a contract at July 1, 2022 and December 31, 2021. Contract costs, current portion at July 1, 2022 remained relatively flat compared to the balance at December 31, 2021. This was primarily attributable to the reclassification of a portion of costs to fulfill certain structures programs from contract costs, noncurrent portion, mostly offset by the amortization of contract costs. For the three-month and six-month fiscal periods ended July 1, 2022, amortization of contract costs was $0.2 million and $0.3 million, respectively. For the three-month and six-month fiscal periods ended July 2, 2021, amortization of contract costs was $3.2 million and $5.1 million, respectively. 8. CONTRACT ASSETS, CONTRACT COSTS AND CONTRACT LIABILITIES (CONTINUED) Contract Costs - continued The decrease in contract costs, noncurrent portion was attributable to the reclassification of costs on certain structures programs to contract costs, current portion. Contract Liabilities Contract liabilities, current portion remained relatively flat compared to the balance at December 31, 2021. This was primarily due to revenue recognized on our seals, springs and contacts, mostly offset by advances received for the JASSM program and certain fuzing programs. Revenue recognized related to contract liabilities, current portion was $0.7 million and $1.2 million in the three-month and six-month fiscal periods ended July 1, 2022, respectively. Revenue recognized related to contract liabilities, current portion was $20.5 million and $29.9 million in the three-month and six-month fiscal periods ended July 2, 2021, respectively. Contract liabilities, noncurrent portion at July 1, 2022 remained flat compared to the balance at December 31, 2021. For the three-month and six-month fiscal periods ended July 1, 2022 and July 2, 2021, the Company did not recognize revenue against contract liabilities, noncurrent portion. Refer to Note 15, Commitments and Contingencies , for further information on the Company's offset agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jul. 01, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the carrying value and fair value of financial instruments that are not carried at fair value: July 1, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value In thousands Debt (1) $ 199,500 $ 186,832 $ 191,876 $ 213,222 (1) These amounts are classified within Level 2. The above fair values were computed based on quoted market prices and discounted future cash flows (observable inputs), as applicable. Differences from carrying values are attributable to interest rate changes subsequent to when the transactions occurred. The fair values of cash and cash equivalents, accounts receivable, net and accounts payable - trade approximate their carrying amounts due to the short-term maturities of these instruments. The Company's cash and cash equivalents at July 1, 2022 and December 31, 2021 included $55.6 million and $65.5 million, respectively, of Level 1 money market funds. 9. FAIR VALUE MEASUREMENTS (CONTINUED) Recurring Fair Value Measurements The Company holds derivative instruments for foreign exchange contracts that are measured at fair value using observable market inputs such as forward rates and its counterparties’ credit risks. Based on these inputs, the derivative instruments are classified within Level 2 of the valuation hierarchy. At July 1, 2022 and December 31, 2021, the derivative instruments were included in other current assets and other current liabilities on the Company's Condensed Consolidated Balance Sheets. Based on the Company's continued ability to trade and enter into forward contracts and interest rate swaps, the Company considers the markets for its fair value instruments to be active. The Company evaluated the credit risk associated with the counterparties to these derivative instruments and determined that as of July 1, 2022, such credit risks had not had an adverse impact on the fair value of these instruments.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Jul. 01, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to certain risks relating to its ongoing business operations, including market risks relating to fluctuations in foreign currency exchange rates and interest rates. Derivative financial instruments are recognized on the Condensed Consolidated Balance Sheets as either assets or liabilities and are measured at fair value. Changes in the fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income, depending on whether a derivative is effective as part of a hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income (loss) are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The Company does not use derivative instruments for speculative purposes. Forward Exchange Contracts The Company holds forward exchange contracts designed to hedge forecasted transactions denominated in foreign currencies and to minimize the impact of foreign currency fluctuations on the Company’s earnings and cash flows. Some of these contracts are designated as cash flow hedges. The Company will include in earnings amounts currently included in accumulated other comprehensive income (loss) upon recognition of cost of sales related to the underlying transaction. These contracts were not material to the Company's Condensed Consolidated Balance Sheets as of July 1, 2022 and December 31, 2021. The activity related to these contracts was not material to the Company's Condensed Consolidated Financial Statements for the three-month and six-month fiscal periods ended July 1, 2022 and July 2, 2021.

Inventories

Inventories	6 Months Ended
Inventories	Jul. 01, 2022
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following: July 1, December 31, In thousands Raw materials $ 22,661 $ 19,123 Contracts and other work in process (including certain general stock materials) 155,214 138,737 Finished goods 36,813 35,240 Inventories $ 214,688 $ 193,100 Inventories include amounts associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts were as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 552 11. INVENTORIES (CONTINUED) At July 1, 2022 and December 31, 2021, $68.8 million and $69.2 million, respectively, of K-MAX® inventory was included in contracts and other work in process inventory and finished goods on the Company's Condensed Consolidated Balance Sheets. Management believes that approximately $46.7 million of the K-MAX® inventory will be sold after July 1, 2023, based upon the anticipation of additional aircraft manufacturing and the requirements to support the fleet for the foreseeable future. At July 1, 2022 and December 31, 2021, $6.4 million and $6.0 million, respectively, of SH-2G(I) inventory was included in contracts and other work in process inventory on the Company's Condensed Consolidated Balance Sheets. Management believes that approximately $4.5 million of the SH-2G(I) inventory will be sold after July 1, 2023. This balance represents spares requirements and inventory to be used on SH-2G programs.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
Goodwill and Other Intangible Assets, Net	Jul. 01, 2022
Intangible Assets, Net (Including Goodwill) [Abstract]
Goodwill and Other Intangible Assets, Net	GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company: Engineered Products Precision Products Structures Total In thousands Gross balance at December 31, 2021 $ 199,306 $ 41,375 $ 66,559 $ 307,240 Accumulated impairment — — (66,559) (66,559) Net balance at December 31, 2021 199,306 41,375 — 240,681 Additions — — — — Impairments — — — — Foreign currency translation (7,546) — — (7,546) Ending balance at July 1, 2022 $ 191,760 $ 41,375 $ — $ 233,135 Accumulated impairment at end of period $ — $ — $ (66,559) $ (66,559) Other Intangible Assets Other intangible assets consisted of: At July 1, At December 31, 2022 2021 Amortization Gross Accumulated Gross Accumulated In thousands Customer lists / relationships 6-38 years $ 125,278 $ (36,831) $ 127,206 $ (35,096) Developed technologies 7-20 years 44,449 (15,313) 45,170 (13,591) Trademarks / trade names 15-40 years 16,555 (2,790) 16,982 (2,659) Non-compete agreements and other 1-15 years 4,497 (4,486) 4,629 (4,617) Patents 17 years 523 (479) 523 (473) Total $ 191,302 $ (59,899) $ 194,510 $ (56,436) The changes in the gross amounts of the Company's other intangible assets were primarily due to changes in foreign currency exchange rates.

Debt

Debt	6 Months Ended
Debt	Jul. 01, 2022
Debt Disclosure [Abstract]
Debt Disclosure	13. DEBT Convertible Notes During May 2017, the Company issued $200.0 million aggregate principal amount of convertible senior unsecured notes due May 2024 (the "2024 Notes") pursuant to an indenture (the "Indenture"), dated May 12, 2017, between the Company and U.S. Bank National Association, as trustee. In connection therewith, the Company entered into certain capped call transactions that cover, collectively, the number of shares of the Company's common stock underlying the 2024 Notes. On May 12, 2017, the Company issued $175.0 million in principal amount of 2024 Notes, in a private placement offering. On May 24, 2017, the Company issued an additional $25.0 million in principal amount of 2024 Notes pursuant to the initial purchasers' exercise of their overallotment option, resulting in the issuance of an aggregate $200.0 million principal amount of 2024 Notes. The 2024 Notes bear 3.25% interest per annum on the principal amount, payable semiannually in arrears on May 1 and November 1 of each year, beginning on November 1, 2017. The 2024 Notes will mature on May 1, 2024, unless earlier repurchased by the Company or converted. The Company will settle any conversions of the 2024 Notes in cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election. The sale of the Distribution business in the third quarter of 2019 was deemed to be a "Fundamental Change" and a "Make-Whole Fundamental Change" pursuant to the terms and conditions of the indenture governing the 2024 Notes. As a result, the sale triggered the right of the holders of our 2024 Notes to require us to repurchase all of the 2024 Notes, or any portion thereof that is a multiple of $1,000 principal amount on September 27, 2019. The aggregate principal amount of the 2024 Notes validly tendered and not validly withdrawn was $0.5 million, representing 0.25% of all outstanding notes. Holders of such notes receive the purchase price equal to 100% of the principal amount of the 2024 Notes being purchased, plus accrued and unpaid interest. The following table illustrates the conversion rate at the date of issuance of the 2024 Notes: 2024 Notes Conversion Rate per $1,000 principal amount (1) 15.3227 Conversion Price (2) 65.2626 Contingent Conversion Price (3) 84.8413 Aggregate shares to be issued upon conversion (4) 3,056,879 (1) Represents the number of shares of Common Stock hypothetically issuable per each $1,000 principal amount of 2024 Notes, subject to adjustments upon the occurrence of certain specified events in accordance with the terms of the Indenture. (2) Represents $1,000 divided by the conversion rate as of such date. The conversion price reflects the strike price of the embedded option within the 2024 Notes. If the Company's share price exceeds the conversion price at conversion, the noteholders would be entitled to receive additional consideration either in cash, shares or a combination thereof, the form of which is at the sole discretion of the Company. (3) Prior to November 1, 2023, the notes are convertible only in the following circumstances: (1) during any fiscal quarter commencing after July 1, 2017, and only during any such fiscal quarter, if the last reported sale price of the Company's common stock was greater than or equal to 130% of the applicable conversion price for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter, (2) during the five consecutive business day period following any ten consecutive trading day period (the "measurement period") in which the trading price per $1,000 principal amount of 2024 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the conversion rate on each such trading day or (3) upon the occurrence of specified corporate events. On or after November 1, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of the foregoing circumstances. If the Company undergoes a fundamental change (as defined in the Indenture), holders of the notes may require the Company to repurchase all or a portion of their notes for cash at a repurchase price equal to 100% of the principal amount to be repurchased, plus any accrued and unpaid interest. As of July 1, 2022, none of the conditions permitting the holders of the 2024 Notes to convert had been met. Therefore, the 2024 Notes are classified as long-term debt. (4) This represents the number of shares hypothetically issuable upon conversion of 100% of the outstanding aggregate principal amount of the 2024 Notes at each date; however, the terms of the 2024 Notes state that the Company may pay or deliver, as the case may be, cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election. The Company currently intends to settle the aggregate principal amount in cash. Amounts due in excess of the principal, if any, also may be settled in cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election. 13. DEBT (CONTINUED) Convertible Notes - continued In connection with the 2024 Notes offering, the Company entered into capped call transactions with certain of the initial purchasers or their respective affiliates. These transactions are intended to reduce the potential dilution to the Company's shareholders and/or offset the cash payments the Company is required to make in excess of the principal amount upon any future conversion of the notes in the event that the market price per share of the Company's common stock is greater than the strike price of the capped call transactions, with such reduction and/or offset subject to a cap based on the cap price of the capped call transactions. Under the terms of the capped call transactions, the strike price ($65.2626) and the cap price ($88.7570) are each subject to adjustment in certain circumstances. In connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates entered into various derivative transactions with respect to the Company’s common stock concurrently with or shortly after the pricing of the notes. The capped call transactions, which cost an aggregate $20.5 million, were recorded as a reduction of additional paid-in capital. ASC Topic 815 - Derivatives and Hedging ("ASC 815") provides that contracts are initially classified as equity if (1) the contract requires physical settlement or net-share settlement, or (2) the contract gives the company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The settlement terms of our capped call transactions require net-share settlement. Based on the guidance in ASC 815, the capped call transactions were recorded as a reduction of equity as of the trade date. ASC 815 states that a reporting entity shall not consider contracts to be derivative instruments if the contract issued or held by the reporting entity is both indexed to its own stock and classified in shareholders' equity in its balance sheet. The Company concluded the capped call transactions should be accounted for in shareholders' equity and are, therefore, not to be considered a derivative instrument. At issuance, ASC 470-20 "Debt with Conversion and Other Options " (“ASC 470-20”) clarified the accounting for convertible debt instruments that may be settled in cash upon conversion, including partial cash settlement. ASC 470-20 specified that an issuer of such instruments should separately account for the liability and equity components of the instruments in a manner that reflects the issuer's non-convertible debt borrowing rate which interest costs are to be recognized in subsequent periods. The note payable principal balance for the 2024 Notes at the date of issuance of $200.0 million was bifurcated into the debt component of $179.5 million and the equity component of $20.5 million. The difference between the note payable principal balance and the fair value of the debt component representing the debt discount was being accreted to interest expense over the term of the 2024 Notes. The fair value of the debt component was recognized using a 5.0% discount rate, representing the Company's borrowing rate at the date of issuance for a similar debt instrument without a conversion feature with an expected life of seven years. At January 1, 2022, the Company adopted ASU 2020-06, which removed certain separation models between a debt component and equity component for certain convertible instruments. As a result, the convertible notes balance consists solely of a debt component as of the adoption. Refer to Note 2, Recent Accounting Standards , for further information on the cumulative effect adjustment recorded at adoption. The Company incurred $7.4 million of debt issuance costs in connection with the sale of the 2024 Notes, which was allocated between the debt and equity components of the instrument at issuance. Of the total amount, $0.7 million was recorded as an offset to additional paid-in capital. The balance, $6.7 million, was recorded as a contra-debt balance and was being amortized over the term of the 2024 Notes. As a result of the adoption of ASU 2020-06, the amount recorded to additional paid-in capital was reclassified to retained earnings in the cumulative effect adjustment recorded on January 1, 2022. The remaining balance of debt issuance costs is being amortized over the term of the convertible notes. Total amortization expense for the three-month and six-month fiscal periods ended July 1, 2022 and July 2, 2021 was $0.3 million and $0.5 million, respectively. 13. DEBT (CONTINUED) Convertible Notes - continued The carrying amount of the equity component and the principal amount of the liability component, the unamortized discount and the net carrying value of the liability are as follows: 2024 Notes July 1, December 31, In thousands Principal amount of liability $ 199,500 $ 199,500 Unamortized discount (1) — 7,624 Carrying value of liability $ 199,500 $ 191,876 Equity component (1) $ — $ 20,408 (1) At January 1, 2022, the Company adopted ASU 2020-06, which removed certain separation models between a debt component and equity component for certain convertible instruments. Refer to Note 2, Recent Accounting Standards , for further information on the cumulative effect adjustment recorded at adoption. Because the embedded conversion option is indexed to the Company’s own stock and would be classified in shareholders’ equity, it does not meet the criterion under ASC 815 that would require separate accounting as a derivative instrument. Interest expense associated with the 2024 Notes consisted of the following: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Contractual coupon rate of interest $ 1,621 $ 1,621 $ 3,242 $ 3,242 Accretion of convertible notes discount (1) — 747 — 1,484 Interest expense - convertible notes $ 1,621 $ 2,368 $ 3,242 $ 4,726 (1) In accordance with ASU 2020-06, entities that previously required separate accounting for conversion features will report less interest expense as those conversion features were recorded as debt discounts which were amortized over the term of the debt. Refer to Note 2, Recent Accounting Standards , for further information on the adoption of ASU 2020-06. The weighted average interest rate on long-term borrowings outstanding as of July 1, 2022 and December 31, 2021 was 3.25% in both periods. 13. DEBT (CONTINUED) Revolving Credit Agreement On December 13, 2019, the Company closed an amended and restated $800.0 million Credit Agreement (the "Credit Agreement") with JPMorgan Chase Bank, N.A., as Administrative Agent and as Collateral Agent, which matures on December 13, 2024. Capitalized terms used but not defined within this Note 13, Debt , have the meanings ascribed thereto in the Credit Agreement. The Credit Agreement was further amended on December 8, 2021 to move its LIBOR benchmark for non-USD borrowings to other non-USD benchmark rates. Future USD borrowings under this current Credit Agreement will continue be based on LIBOR. On May 31, 2022, the Credit Agreement was further amended to, among other things, adjust the Total Net Leverage Ratio financial covenant in anticipation of the consummation of the announced acquisition of Parker's Aircraft Wheel and Brake division. Prior to the amendment, the Credit Agreement included a requirement that the Consolidated Total Net Leverage Ratio could not be greater than 4.00 to 1.00, with an election to increase the maximum to 4.50 to 1.00 for four consecutive quarters, in connection with a Material Permitted Investment. The financial covenant now requires for any period of four consecutive fiscal quarters ending on or after the closing date of the acquisition of Parker's Aircraft Wheel and Brake division ("closing date"), the Consolidated Total Net Leverage Ratio, as defined in the Credit Agreement, cannot be greater than 5.00 to 1.00 for any period of four consecutive quarters ending on or prior to the first anniversary of the closing date, 4.75 to 1.00 for any period of four consecutive quarters ending after the first anniversary and on or prior to second anniversary of the closing date, and 4.50 to 1.00 for any period of four consecutive quarters ending after the second anniversary of the closing date. In addition, the amendment adjusted the definitions of "permitted acquisition", "pro forma" and the "limited condition acquisition" provision, as applicable, to the acquisition of Parker's Aircraft Wheel and Brake division. Debt issuance costs in connection with the Credit Agreement have been capitalized and are being amortized over the term of the agreement. In 2019, we incurred $3.6 million of debt issuance costs in connection with the amendment and restatement of the Credit Agreement. An additional $4.2 million of debt issuance costs were incurred in connection with the amendment of the Credit Agreement in 2022. Total amortization expense for the three-month fiscal periods ended July 1, 2022 and July 2, 2021 was $0.3 million and $0.2 million, respectively. Total amortization expense for the six-month fiscal periods ended July 1, 2022 and July 2, 2021 was $0.5 million and $0.4 million, respectively.

Pension Plans

Pension Plans	6 Months Ended
Pension Plans	Jul. 01, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Compensation and Employee Benefit Plans	PENSION PLANS Components of net pension cost for the Qualified Pension Plan and Supplemental Employees’ Retirement Plan ("SERP") were as follows: For the Three Months Ended Qualified Pension Plan SERP July 1, July 2, July 1, July 2, In thousands Service cost (1) $ 882 $ (649) $ — $ — Interest cost on projected benefit obligation 4,349 3,558 22 14 Expected return on plan assets (10,564) (11,314) — — Amortization of net loss 1,154 1,147 15 18 Net pension (income) cost $ (4,179) $ (7,258) $ 37 $ 32 (1) In the second quarter of 2021, the Company elected to use the alternative method to calculate the Pension Benefit Guaranty Corporation premium. The change resulted in a $3.9 million decrease to the 2021 premium, which is included in the service cost. Due to this election and the reduction of the premium, the Company reversed $1.0 million of service cost in the three-month fiscal period ended July 2, 2021, which was previously incurred in the first quarter of 2021. 14. PENSION PLANS (CONTINUED) For the Six Months Ended Qualified Pension Plan SERP July 1, July 2, July 1, July 2, In thousands Service cost $ 1,682 $ 651 $ — $ — Interest cost on projected benefit obligation 8,599 7,083 44 29 Expected return on plan assets (21,089) (22,589) — — Amortization of net loss 2,129 2,222 30 35 Net pension (income) cost $ (8,679) $ (12,633) $ 74 $ 64 No contributions are expected to be made to the qualified pension plan during 2022. The Company contributed $0.3 million to the SERP through the end of the second quarter of 2022 and plans to contribute an additional $0.2 million to the SERP in 2022. For the 2021 plan year, the Company contributed $10.0 million to the qualified pension plan and $2.7 million to the SERP.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Pension Freeze Effective December 31, 2015, the Company's qualified pension plan was frozen with respect to future benefit accruals. Under USG Cost Accounting Standard (“CAS”) 413, the Company must determine the USG’s share of any pension curtailment adjustment calculated in accordance with CAS. Such adjustments can result in an amount due to the USG for pension plans that are in a surplus position or an amount due to the contractor for plans that are in a deficit position. During the fourth quarter of 2016, the Company accrued a $0.3 million liability representing its estimate of the amount due to the USG based on the Company's pension curtailment adjustment calculation, which was submitted to the USG for review in December 2016. The Company maintained its accrual at $0.3 million as of July 1, 2022. There can be no assurance that the ultimate resolution of this matter will not have a material adverse effect on the Company's results of operations, financial position and cash flows. New Hartford Property In connection with the sale of the Company’s Music segment in 2007, the Company assumed responsibility for meeting certain requirements of the Connecticut Transfer Act (the “Transfer Act”) that applied to the transfer of the New Hartford, Connecticut, facility leased by that segment for guitar manufacturing purposes (“Ovation”). Under the Transfer Act, those responsibilities essentially consist of assessing the site's environmental conditions and remediating environmental impairments, if any, caused by Ovation's operations prior to the sale. The site is a multi-tenant industrial park, in which Ovation and other unrelated entities lease space. The environmental assessment process, which began in 2008, has been completed and site remediation is in process. The Company's estimate of its portion of the cost to assess the environmental conditions and remediate this site is $2.3 million, all of which has been accrued. The remediation has been nearly completed and the Company continues to monitor the results of the remediation. The total amount paid to date in connection with these environmental remediation activities is $1.7 million. At July 1, 2022, the Company had $0.6 million accrued for these environmental remediation activities. A portion ($0.1 million) of the accrual related to this property is included in other current liabilities and the balance is included in other long-term liabilities. The remaining balance of the accrual reflects the total anticipated cost of completing these environmental remediation activities. Although it is reasonably possible that additional costs will be paid in connection with the resolution of this matter, the Company is unable to estimate the amount of such additional costs, if any, at this time. 15. COMMITMENTS AND CONTINGENCIES (CONTINUED) Bloomfield Property In connection with the Company’s 2008 purchase of the portion of the Bloomfield campus that Kaman Aerospace Corporation had leased from NAVAIR, the Company assumed responsibility for environmental remediation at the facility as may be required under the Transfer Act and is currently remediating the property under the guidance of the Connecticut Department of Environmental Protection. The assumed environmental liability of $10.3 million was determined by taking the undiscounted estimated remediation liability of $20.8 million and discounting it at a rate of 8%. This remediation process will take many years to complete. The total amount paid to date in connection with these environmental remediation activities is $15.4 million. At July 1, 2022, the Company had $1.9 million accrued for these environmental remediation activities. A portion ($0.2 million) of the accrual related to this property is included in other current liabilities, and the balance is included in other long-term liabilities. Although it is reasonably possible that additional costs will be paid in connection with the resolution of this matter, the Company is unable to estimate the amount of such additional costs, if any, at this time. Offset Agreement The Company has entered into offset agreements as a condition to obtaining orders from a foreign customer for the Company's JPF product. Offset agreements are designed to return economic value to the foreign country by requiring the Company to engage in activities supporting local defense or commercial industries, promoting a balance of trade, developing in-country technology capabilities or addressing other local development priorities. Such agreements may be satisfied through activities that do not require a direct cash payment, including transferring technology, providing manufacturing, training and other consulting support to in-country projects and the purchase by third parties of supplies from in-country vendors. The agreements may also be satisfied through the Company's use of cash for activities, such as subcontracting with local partners, purchasing supplies from in-country vendors, providing financial support for in-country projects and making investments in local ventures. At July 1, 2022, the aggregate amount of the Company's offset agreements had an outstanding notional value of approximately $220.9 million. The amount ultimately applied against offset agreements is based on negotiations with the customer and may require cash outlays that represent only a fraction of the notional value in the offset agreement. The Company continues to work with the customer to further define the requirements to satisfy the offset agreements. Offset programs typically extend over several years and may provide for penalties in the event the Company fails to perform according to offset requirements. The satisfaction of the offset requirements will be determined by the customer. In the event the offset requirements of the contract are not met, the Company could be liable for potential penalties up to $18.8 million payable to the customer. Failure to satisfy the offset requirements could also negatively impact the Company's ability to attract future orders from this customer. The Company considers these potential penalties to be a reduction to the transaction price in its determination of the value of the performance obligations within these contracts. At July 1, 2022, $16.5 million in contract liabilities associated with the potential penalties of the offset requirements were included on the Company's Condensed Consolidated Balance Sheets. Guarantee During 2020, the Company and the USG entered into a Guaranty Agreement, pursuant to which the Company agreed to guarantee the full, complete and satisfactory performance of its subsidiary, Kaman Precision Products, Inc. ("KPPI") under all current and future contracts with the USG. As of the date of this filing, the only contract in place between KPPI and the USG relates to the production and sale of the JPF. KPPI is currently fulfilling the requirements of Option 16. The guarantee was provided in lieu of a periodic financial capability review by the Financial Capacity Team ("FCT") of the Defense Contract Management Agency ("DCMA"). The Company is unable to estimate the maximum potential amount of future payments under the guarantee as it is dependent on costs incurred by the USG in the event of default. Although the Company believes the risk of default is low given the maturity and operational performance of the JPF program, there can be no assurance that the guarantee will not have a material adverse effect on the Company's results of operations, financial position and cash flows.

Computation of Earnings Per Sha

Computation of Earnings Per Share	6 Months Ended
Computation of Earnings Per Share	Jul. 01, 2022
Earnings Per Share Reconciliation [Abstract]
Computation of Earnings Per Share	COMPUTATION OF EARNINGS PER SHARE The computation of basic earnings per share is based on net earnings divided by the weighted average number of shares of common stock outstanding for each period. The computation of diluted earnings per share reflects the common stock equivalency of dilutive options granted to employees under the Company's stock incentive plan, shares issuable on redemption of its convertible notes and shares issuable upon redemption of outstanding warrants. For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands, except per share amounts Net earnings $ 4,064 $ 11,856 $ 8,092 $ 19,840 Basic: Weighted average number of shares outstanding 28,005 27,867 27,977 27,841 Basic earnings per share $ 0.15 $ 0.43 $ 0.29 $ 0.71 Diluted (1) : Weighted average number of shares outstanding 28,005 27,867 27,977 27,841 Weighted average shares issuable on exercise of dilutive stock options 54 46 94 49 Total 28,059 27,913 28,071 27,890 Diluted earnings per share $ 0.14 $ 0.42 $ 0.29 $ 0.71 (1) As a result of the adoption of ASU 2020-06, the Company began calculating diluted earnings per share using the if-converted method for its convertible debt instruments in 2022. Prior to the adoption, the Company calculated diluted earnings per share for its convertible debt instruments using the treasury stock method. The Company adopted ASU 2020-06 using the modified retrospective approach; therefore, prior period results have not been retroactively adjusted. Refer to Note 2, Recent Accounting Standards , for further information on the adoption of ASU 2020-06. Equity awards For the three-month and six-month fiscal periods ended July 1, 2022, respectively, 720,540 and 682,971 shares issuable under equity awards granted to employees were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the periods. For the three-month and six-month fiscal periods ended July 2, 2021, respectively, 482,339 and 461,649 shares issuable under equity awards granted to employees were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the periods. 2024 Convertible Notes For the three-month and six-month fiscal periods ended July 1, 2022, 3,056,879 shares issuable under Convertible Notes due 2024 were excluded from the diluted earnings per share calculation because their effect was antidilutive. For the three-month and six-month fiscal period ended July 2, 2021, shares issuable under the Convertible Notes due 2024 were excluded from the diluted earnings per share calculation because the conversion price was more than the average market price of the Company's stock during the periods.

Share-based Arrangements

Share-based Arrangements	6 Months Ended
Share-based Arrangements	Jul. 01, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-based Payment Arrangement	17. SHARE-BASED ARRANGEMENTS The Company accounts for stock options, restricted stock awards ("RSAs"), restricted stock units and performance stock units ("PSUs") as equity awards and measures the cost of all share-based payments, including stock options, at fair value on the grant date and recognizes this cost in the statement of operations. The Company also has an employee stock purchase plan, which is accounted for as a liability award. Compensation expense for stock options, RSAs, restricted stock units and PSUs is recognized on a straight-line basis over the vesting period of the awards. Throughout the course of the vesting period, the Company monitors the achievement level for the ROIC metric of the PSUs compared to the ROIC target and adjusts the number of shares expected to be earned, and the related compensation expense recorded thereafter, to reflect the most probable outcome. Share-based compensation expense recorded for the three-month and six-month fiscal periods ended July 1, 2022 was $2.7 million and $4.8 million, respectively. Of these amounts, $0.1 million was recorded to restructuring and severance costs in both periods, and the remaining amounts were recorded to selling, general and administrative expenses on the Company's Condensed Consolidated Statements of Operations. Share-based compensation expense recorded for the three-month and six-month fiscal periods ended July 2, 2021 was $2.5 million and $4.2 million, respectively. Of these amounts, $0.2 million was recorded to restructuring and severance costs in both periods, and the remaining amounts were recorded to selling, general and administrative expenses on the Company's Condensed Consolidated Statements of Operations. Stock option activity was as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Options Weighted - average Options Weighted - average Options outstanding at beginning of period 733,493 $ 55.29 746,240 $ 55.14 Granted — $ — — $ — Exercised — $ 42.86 (9,676) $ 41.90 Forfeited or expired (6,802) $ 53.53 (9,873) $ 40.41 Options outstanding at July 1, 2022 726,691 $ 55.32 726,691 $ 55.32 The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. No options were granted in the six-month fiscal period ended July 1, 2022. The following table indicates the weighted-average assumptions used in estimating fair value for the six-month fiscal period ended July 2, 2021: For the Six Months Ended July 2, 2021 Expected option term (years) 4.9 Expected volatility 35.7 % Risk-free interest rate 0.5 % Expected dividend yield 1.6 % Per share fair value of options granted $14.89 17. SHARE-BASED ARRANGEMENTS (CONTINUED) Restricted stock award and restricted stock unit activity were as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Restricted Stock Weighted- Restricted Stock Weighted- Restricted Stock outstanding at beginning of period 164,791 $ 47.96 135,351 $ 53.53 Granted 19,900 $ 43.15 100,015 $ 41.94 Vested (28,731) $ 44.84 (75,329) $ 49.80 Forfeited or expired (3,760) $ 50.00 (7,837) $ 51.51 Restricted Stock outstanding at July 1, 2022 152,200 $ 47.87 152,200 $ 47.87 Performance stock unit activity was as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Performance Stock Weighted- Performance Stock Weighted- Performance Stock outstanding at beginning of period 184,405 $ 60.98 70,163 $ 70.17 Granted (1) — $ — 117,885 $ 54.87 Vested — $ — — $ — Forfeited or expired (4,285) $ 61.38 (7,928) $ 61.32 Performance Stock outstanding at July 1, 2022 180,120 $ 60.55 180,120 $ 60.55 (1) The PSUs granted in 2022 and 2021 assumed a 100% achievement level. The fair value of the PSUs based on TSR was estimated on the date of grant using a Monte-Carlo simulation model. The following table indicates the weighted-average assumptions used in estimating fair value: For the Six Months Ended July 1, 2022 July 2, 2021 Expected term (years) 2.9 2.9 Expected volatility 39.4 % 41.3 % Risk-free interest rate 1.7 % 0.2 % Expected dividend yield 1.9 % 1.4 % Per share fair value of performance stock granted $ 68.10 $ 84.49

Shareholders' Equity and Accumu

Shareholders' Equity and Accumulated Other Comprehensive Income	6 Months Ended
	Jul. 01, 2022
Stockholders' Equity Note [Abstract]
Shareholders' Equity and Accumulated Other Comprehensive Income	SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in shareholders’ equity for the three-month fiscal periods ended July 1, 2022, and July 2, 2021, were as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Beginning balance $ 786,748 $ 767,219 796,329 746,438 Comprehensive (loss) income (5,297) 14,474 (5,725) 38,813 Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively) (5,597) (5,565) (11,187) (11,127) Employee stock plans and related tax benefit 481 648 1,266 1,528 Purchase of treasury shares (123) (46) (698) (390) Share-based compensation expense 2,730 2,482 4,811 4,225 Impact of change in accounting standard — — (5,854) (275) Ending balance $ 778,942 $ 779,212 $ 778,942 $ 779,212 The components of accumulated other comprehensive income (loss) are shown below: For the Three Months Ended July 1, July 2, In thousands Foreign currency translation and other: Beginning balance $ 3,554 $ 14,796 Net (gain) loss on foreign currency translation (10,261) 1,719 Other comprehensive income (loss), net of tax (10,261) 1,719 Ending balance $ (6,707) $ 16,515 Pension and other post-retirement benefits (1) : Beginning balance $ (119,395) $ (129,262) Amortization of net loss, net of tax expense of $269 and $266, respectively 900 899 Other comprehensive income, net of tax 900 899 Ending balance $ (118,495) $ (128,363) Total accumulated other comprehensive loss $ (125,202) $ (111,848) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 14, Pension Plans for additional information.) 18. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) For the Six Months Ended July 1, July 2, In thousands Foreign currency translation and other: Beginning balance $ 8,772 $ (717) Net gain on foreign currency translation (15,479) (5,603) Reclassification to net income (1) — 22,835 Other comprehensive income (loss), net of tax (15,479) 17,232 Ending balance $ (6,707) $ 16,515 Pension and other post-retirement benefits (2) : Beginning balance $ (120,157) $ (130,104) Amortization of net loss, net of tax expense of $497 and $516, respectively 1,662 1,741 Other comprehensive income, net of tax 1,662 1,741 Ending balance $ (118,495) $ (128,363) Total accumulated other comprehensive loss $ (125,202) $ (111,848) (1) The foreign currency translation reclassified to net income relates to the sale of the Company's UK Composites business. This balance was included in the loss accrual recorded in impairment on assets held for sale on the Company's Consolidated Statement of Operations in the year ended December 31, 2020 (see Note 3, Disposals , for additional information). (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 14, Pension Plans for additional information.)

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, Effective Income Tax Rate 12.1 % 31.7 % 18.7 % 22.3 %

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jul. 01, 2022
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS In the second quarter of 2022, the Company entered into an asset purchase agreement to sell certain assets and liabilities of its Mexico operations in the Structures segment. Subsequent to the end of the quarter, the transaction closed on July 29, 2022. See Note 3, Disposals , to the Condensed Consolidated Financial Statements for further information. The Company has evaluated subsequent events through the issuance date of these financial statements. Other than the matter noted above, no material subsequent events were identified that require disclosure.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation Basis of Presentation (Policies)	Jul. 01, 2022
Basis of Presentation [Abstract]
Consolidation, Policy [Policy Text Block]	BASIS OF PRESENTATION Following the sale of the Company's Distribution business in 2019, the Company operated as one segment. In the fourth quarter of 2021, our Chief Operating Decision Maker ("CODM") established a new structure for the Company to better align the Company's businesses to support capital allocation plans, portfolio management and growth. This new structure resulted in the introduction of three reportable segments: Engineered Products, Precision Products and Structures. See Note 5, Revenue and Segment Information , for 2022 financial results by segment and a recast of financial results by segment for the three-month and six-month fiscal periods ended July 2, 2021. During the second quarter of 2022, the Company entered into an asset purchase agreement to sell certain assets and liabilities of its Mexico operations in the Structures segment. As a result of the agreement, the assets and liabilities of the Mexico operations to be sold were reclassified to assets and liabilities held for sale, respectively, as of July 1, 2022 on the Company's Condensed Consolidated Balance Sheet as the criteria set forth in Accounting Standards Codification 205-20, Presentation of Financial Statements - Discontinued Operations ("ASC 205-20") for held for sale were met. See Note 3, Disposals , to the Condensed Consolidated Financial Statements for further information. This transaction closed on July 29, 2022. In the opinion of management, the condensed consolidated financial information reflects all adjustments necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented, but do not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The Company has a calendar year-end; however, its first three fiscal quarters follow a 13-week convention, with each quarter ending on a Friday. The second quarters for 2022 and 2021 ended on July 1, 2022, and July 2, 2021, respectively.

Recent Accounting Standards Det

Recent Accounting Standards Details (Policies)	6 Months Ended
Recent Accounting Standards Details (Policies)	Jul. 01, 2022
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	RECENT ACCOUNTING STANDARDS Recent Accounting Standards Adopted In May 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2021-04, "Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force)". The objective of this standard update is to clarify and reduce diversity in an issuer's accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The guidance clarifies whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as either an adjustment to equity and, if so, the related earnings per share ("EPS") effects, if any, or as an expense and, if so, the manner and pattern of recognition. The standard update is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, including adoption in an interim period. The Company adopted this standard on January 1, 2022. The adoption of this standard update did not have a material impact on the Company's consolidated financial statements. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Adopted - continued In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity". The objective of this standard update is to simplify the accounting for certain financial instruments with characteristics of liabilities and equity. The update removes certain separation models between a debt component and equity or derivative component for certain convertible instruments. Entities that previously required separate accounting for conversion features will report less interest expense as those conversion features were recorded as debt discounts which were amortized over the term of the debt. In addition, this ASU adds new disclosure requirements for convertible instruments to improve the decision usefulness and relevance of the information being provided to users of financial statements, clarifies the guidance for determining whether a contract qualifies for a scope exception from derivative accounting, and requires the application of the if-converted method when calculating diluted EPS guidance to improve consistency. The standard update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption of the standard was permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. An entity should adopt the guidance as of the beginning of its annual fiscal year and can do so using a modified retrospective method or fully retrospective method of transition. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective basis which resulted in a cumulative effect adjustment to the opening balance sheet. The prior period condensed consolidated financial statements have not been retroactively adjusted and continue to be reported under the accounting standard in effect for the period. The cumulative effect of the adjustments recorded to the opening balance sheet on January 1, 2022 for the adoption of ASU 2020-06 was as follows: in thousands Balance at December 31, 2021 Adjustments due to ASU 2020-06 Balance at January 1, 2022 Assets Deferred income taxes $ 15,717 $ 1,770 $ 17,487 Liabilities Long-term debt, excluding current portion, net of debt issuance costs $ 189,421 $ 7,624 $ 197,045 Equity Additional paid-in capital $ 248,153 $ (12,489) $ 235,664 Retained earnings $ 750,445 $ 6,635 $ 757,080 Beginning in 2022, the Company will calculate diluted EPS using the if-converted method for its convertible debt instruments, which is not expected to have a material impact on the consolidated results. Historically, the Company used the treasury stock method to calculate diluted EPS for its convertible debt instruments. In the second quarter of 2022, there was no impact as diluted EPS calculated to $0.14 and $0.29, respectively, using both the if-converted method and treasury stock method. Refer to Note 13, Debt, for further information on the Company's convertible notes. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Yet to be Adopted In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method". The amendments in this standard update expand the current last-of-layer method of hedge accounting that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in ASU 2017-12 for the corresponding period. If an entity adopts the amendments in an interim period, the effect of adopting the amendments related to basis adjustments should be reflected as of the beginning of the fiscal year of adoption. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future hedging activity. In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers". The amendments in this standard update address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination and require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption of the standard is permitted, including adoption in an interim period. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future business combinations. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting". The objective of the standard is to address operational challenges likely to arise in accounting for contract modifications and hedge accounting due to reference rate reform. The amendments in this ASU provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The standard update is effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by topic or industry subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. Once elected for a topic or industry subtopic, the amendments in this standard update must be applied prospectively for all eligible contract modifications for that topic or industry subtopic. An entity may elect to apply the amendments for eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. If an entity elects to apply any of the amendments for an eligible hedging relationship existing as of the beginning of the interim period that includes March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of that interim period. If an entity elects to apply any of the amendments for a new hedging relationship entered into between the beginning of the interim period that includes March 12, 2020 and March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of the hedging relationship. In December 2021, the Company amended its credit agreement to move its LIBOR benchmark for non-USD borrowings to other non-USD benchmark rates. Future USD borrowings under this current Credit Agreement will continue to be based on LIBOR. The impact of the adoption of this standard update is dependent on the Company's contracts modifications as a result of reference rate reform; however, the Company does not expect the adoption of the amendments associated with hedging relationships to have a material impact on the Company's consolidated financial statements. Subsequent to the issuance of ASU 2020-04, the FASB issued the following update: ASU 2021-01, "Reference Rate Reform (Topic 848) - Scope". The amendments in this update affect the guidance within ASU 2020-04 and are being assessed with ASU 2020-04.
Recent Accounting Standards	RECENT ACCOUNTING STANDARDS Recent Accounting Standards Adopted In May 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2021-04, "Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force)". The objective of this standard update is to clarify and reduce diversity in an issuer's accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The guidance clarifies whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as either an adjustment to equity and, if so, the related earnings per share ("EPS") effects, if any, or as an expense and, if so, the manner and pattern of recognition. The standard update is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption was permitted, including adoption in an interim period. The Company adopted this standard on January 1, 2022. The adoption of this standard update did not have a material impact on the Company's consolidated financial statements. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Adopted - continued In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity". The objective of this standard update is to simplify the accounting for certain financial instruments with characteristics of liabilities and equity. The update removes certain separation models between a debt component and equity or derivative component for certain convertible instruments. Entities that previously required separate accounting for conversion features will report less interest expense as those conversion features were recorded as debt discounts which were amortized over the term of the debt. In addition, this ASU adds new disclosure requirements for convertible instruments to improve the decision usefulness and relevance of the information being provided to users of financial statements, clarifies the guidance for determining whether a contract qualifies for a scope exception from derivative accounting, and requires the application of the if-converted method when calculating diluted EPS guidance to improve consistency. The standard update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Early adoption of the standard was permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. An entity should adopt the guidance as of the beginning of its annual fiscal year and can do so using a modified retrospective method or fully retrospective method of transition. On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective basis which resulted in a cumulative effect adjustment to the opening balance sheet. The prior period condensed consolidated financial statements have not been retroactively adjusted and continue to be reported under the accounting standard in effect for the period. The cumulative effect of the adjustments recorded to the opening balance sheet on January 1, 2022 for the adoption of ASU 2020-06 was as follows: in thousands Balance at December 31, 2021 Adjustments due to ASU 2020-06 Balance at January 1, 2022 Assets Deferred income taxes $ 15,717 $ 1,770 $ 17,487 Liabilities Long-term debt, excluding current portion, net of debt issuance costs $ 189,421 $ 7,624 $ 197,045 Equity Additional paid-in capital $ 248,153 $ (12,489) $ 235,664 Retained earnings $ 750,445 $ 6,635 $ 757,080 Beginning in 2022, the Company will calculate diluted EPS using the if-converted method for its convertible debt instruments, which is not expected to have a material impact on the consolidated results. Historically, the Company used the treasury stock method to calculate diluted EPS for its convertible debt instruments. In the second quarter of 2022, there was no impact as diluted EPS calculated to $0.14 and $0.29, respectively, using both the if-converted method and treasury stock method. Refer to Note 13, Debt, for further information on the Company's convertible notes. 2. RECENT ACCOUNTING STANDARDS (CONTINUED) Recent Accounting Standards Yet to be Adopted In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method". The amendments in this standard update expand the current last-of-layer method of hedge accounting that permits only one hedged layer to allow multiple hedged layers of a single closed portfolio. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted on any date on or after the issuance of this update for any entity that has adopted the amendments in ASU 2017-12 for the corresponding period. If an entity adopts the amendments in an interim period, the effect of adopting the amendments related to basis adjustments should be reflected as of the beginning of the fiscal year of adoption. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future hedging activity. In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers". The amendments in this standard update address diversity and inconsistency related to the recognition and measurement of contract assets and contract liabilities acquired in a business combination and require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. This standard update is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption of the standard is permitted, including adoption in an interim period. The adoption of this standard update is not expected to have a material impact on the Company's consolidated financial statements; however, the impact will be dependent on future business combinations. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting". The objective of the standard is to address operational challenges likely to arise in accounting for contract modifications and hedge accounting due to reference rate reform. The amendments in this ASU provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The standard update is effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by topic or industry subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020. Once elected for a topic or industry subtopic, the amendments in this standard update must be applied prospectively for all eligible contract modifications for that topic or industry subtopic. An entity may elect to apply the amendments for eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. If an entity elects to apply any of the amendments for an eligible hedging relationship existing as of the beginning of the interim period that includes March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of that interim period. If an entity elects to apply any of the amendments for a new hedging relationship entered into between the beginning of the interim period that includes March 12, 2020 and March 12, 2020, any adjustments as a result of those elections must be reflected as of the beginning of the hedging relationship. In December 2021, the Company amended its credit agreement to move its LIBOR benchmark for non-USD borrowings to other non-USD benchmark rates. Future USD borrowings under this current Credit Agreement will continue to be based on LIBOR. The impact of the adoption of this standard update is dependent on the Company's contracts modifications as a result of reference rate reform; however, the Company does not expect the adoption of the amendments associated with hedging relationships to have a material impact on the Company's consolidated financial statements. Subsequent to the issuance of ASU 2020-04, the FASB issued the following update: ASU 2021-01, "Reference Rate Reform (Topic 848) - Scope". The amendments in this update affect the guidance within ASU 2020-04 and are being assessed with ASU 2020-04.

Accounting Policies (Tables)

Accounting Policies (Tables)	6 Months Ended
Accounting Policies (Tables)	Jul. 01, 2022
Accounting Policies [Abstract]
Cumulative Effect Adjustment - ASU Adoption	The cumulative effect of the adjustments recorded to the opening balance sheet on January 1, 2022 for the adoption of ASU 2020-06 was as follows: in thousands Balance at December 31, 2021 Adjustments due to ASU 2020-06 Balance at January 1, 2022 Assets Deferred income taxes $ 15,717 $ 1,770 $ 17,487 Liabilities Long-term debt, excluding current portion, net of debt issuance costs $ 189,421 $ 7,624 $ 197,045 Equity Additional paid-in capital $ 248,153 $ (12,489) $ 235,664 Retained earnings $ 750,445 $ 6,635 $ 757,080

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	6 Months Ended
Segment and Geographic Information (Tables)	Jul. 01, 2022
Revenue [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Summarized financial information by business segment is as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Net sales: Engineered Products $ 89,765 $ 78,956 $ 171,217 $ 150,735 Precision Products 41,267 71,539 88,816 132,072 Structures 29,734 31,899 58,781 71,203 Net sales $ 160,766 $ 182,394 $ 318,814 $ 354,010 Operating income (loss): Engineered Products $ 15,467 $ 9,758 $ 26,509 $ 14,664 Precision Products 2,550 19,429 5,959 32,482 Structures (830) (1,521) (1,447) (1,201) Corporate expense (11,984) (10,314) (22,532) (20,679) Other unallocated expenses, net (1) (2,923) (2,520) (3,152) (4,821) Operating income $ 2,280 $ 14,832 $ 5,337 $ 20,445 (1) Other unallocated expenses, net include costs from the TSA, restructuring and severance costs, loss on sale of business, and net (gain) loss on sale of assets.
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenue The following tables disaggregate segment revenue by major product line: For the Three Months Ended July 1, 2022 Engineered Products Precision Products Structures Total In thousands Defense $ 9,342 $ 6,629 $ 16,098 $ 32,069 Safe and Arm Devices — 21,563 — 21,563 Commercial, Business & General Aviation 37,644 11,895 11,319 60,858 Medical 22,683 — 2,317 25,000 Industrial & Other 20,096 1,180 — 21,276 Total revenue $ 89,765 $ 41,267 $ 29,734 $ 160,766 For the Three Months Ended July 2, 2021 Engineered Products Precision Products Structures Total In thousands Defense $ 11,857 $ 7,259 $ 20,664 $ 39,780 Safe and Arm Devices — 58,006 — 58,006 Commercial, Business & General Aviation 26,860 4,872 9,398 41,130 Medical 21,025 — 1,837 22,862 Industrial & Other 19,214 1,402 — 20,616 Total revenue $ 78,956 $ 71,539 $ 31,899 $ 182,394 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue - continued For the Six Months Ended July 1, 2022 Engineered Products Precision Products Structures Total In thousands Defense $ 18,995 $ 11,951 $ 32,353 $ 63,299 Safe and Arm Devices — 58,885 — 58,885 Commercial, Business & General Aviation 70,022 15,662 22,132 107,816 Medical 43,832 — 4,296 48,128 Industrial & Other 38,368 2,318 — 40,686 Total revenue $ 171,217 $ 88,816 $ 58,781 $ 318,814 For the Six Months Ended July 2, 2021 Engineered Products Precision Products Structures Total In thousands Defense $ 23,085 $ 14,253 $ 46,053 $ 83,391 Safe and Arm Devices — 99,592 — 99,592 Commercial, Business & General Aviation 51,932 15,774 21,382 89,088 Medical 39,677 — 3,768 43,445 Industrial & Other 36,041 2,453 — 38,494 Total revenue $ 150,735 $ 132,072 $ 71,203 $ 354,010 Impacts from Current Economy The U.S. economy is experiencing broad and rapid inflation and rising interest rates, as well as supply issues in material, services and labor due to economic policy, the coronavirus ("COVID-19") pandemic and, more recently, the war in Ukraine. These impacts are likely to persist through 2022 and beyond. We cannot predict the impact on the Company’s end markets or input costs nor the ability of the Company to recover cost increases through pricing. The Company has implemented strategies to limit the risk COVID-19 poses to its operations with a continued focus on the health of its employees and the satisfaction of its customers’ requirements. Despite all of these efforts, the effects of the pandemic have adversely impacted our commercial end markets, more specifically Commercial, Business and General Aviation customers. Management is encouraged by the recoveries for these products and the strong order intake seen in the first six months of 2022. The extent and duration of time to which COVID-19 may adversely impact the Company depends on future developments, which continue to be uncertain and unpredictable. 5. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue - continued The following table disaggregates total revenue by product types. For the Three Months Ended For the Three Months Ended July 1, 2022 July 2, 2021 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 43 % 6 % 18 % 67 % 34 % 3 % 18 % 55 % Aftermarket 13 % 7 % — % 20 % 9 % 4 % — % 13 % Safe and Arm Devices — % 13 % — % 13 % — % 32 % — % 32 % Total revenue 56 % 26 % 18 % 100 % 43 % 39 % 18 % 100 % For the Six Months Ended For the Six Months Ended July 1, 2022 July 2, 2021 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 42 % 5 % 18 % 65 % 34 % 5 % 20 % 59 % Aftermarket 12 % 5 % — % 17 % 9 % 4 % — % 13 % Safe and Arm Devices — % 18 % — % 18 % — % 28 % — % 28 % Total revenue 54 % 28 % 18 % 100 % 43 % 37 % 20 % 100 %
Research and Development	The following table presents research and development costs by segment: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Engineered Products $ 2,121 $ 1,781 $ 4,364 $ 4,603 Precision Products 2,984 1,436 5,787 2,838 Structures 110 21 177 23 Total research and development costs $ 5,215 $ 3,238 $ 10,328 $ 7,464
Schedule of Change in Accounting Estimate [Table Text Block]	Net changes in revenue associated with cost growth on the Company's over time contracts were as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Net increase (decrease) in revenue due to change in profit estimates $ 567 $ (3,446) $ 1,472 $ (581)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Backlog at July 1, 2022 and December 31, 2021, and the portion of backlog the Company expects to recognize revenue on over the next twelve months is as follows: July 1, 2022 (1) December 31, (in thousands) Engineered Products $ 224,563 $ 169,144 Precision Products 196,406 180,082 Structures 353,939 351,697 Total Backlog $ 774,908 $ 700,923 (1) The Company expects to recognize revenue on approximately 59% of backlog as of July 1, 2022 over the next twelve months.	[1]

[1]The Company expects to recognize revenue on approximately 59% of backlog as of July 1, 2022 over the next twelve months.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
Accounts Receivable, Net (Tables)	Jul. 01, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net consisted of the following: July 1, December 31, In thousands Trade receivables $ 29,274 $ 19,228 U.S. Government contracts: Billed 15,605 14,748 Cost and accrued profit - not billed 275 167 Commercial and other government contracts Billed 33,844 36,787 Cost and accrued profit - not billed — 4,141 Less allowance for doubtful accounts (1,306) (1,547) Accounts receivable, net $ 77,692 $ 73,524
Financing Receivable, Allowance for Credit Loss [Table Text Block]	The following table summarizes the activity in the allowance for doubtful accounts in the six-month fiscal period ended July 1, 2022: In thousands Balance at December 31, 2021 $ (1,547) Provision (257) Amounts written off 197 Recoveries 297 Changes in foreign currency exchange rates 4 Balance at July 1, 2022 $ (1,306)
Accounts Receivable Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Cost	Accounts receivable, net includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts are as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 900

Contract Assets, Contract Cos_2

Contract Assets, Contract Costs and Contract Liabilities (Tables)	6 Months Ended
	Jul. 01, 2022
Revenue from Contract with Customer [Abstract]
Activity Related to Contract Assets, Contract Costs, and Contract Liabilities	Activity related to contract assets, contract costs and contract liabilities was as follows: July 1, December 31, 2021 $ Change % Change In thousands Contract assets $ 109,290 $ 112,354 $ (3,064) (2.7) % Contract costs, current portion $ 909 $ 850 $ 59 6.9 % Contract costs, noncurrent portion $ 9,865 $ 10,249 $ (384) (3.7) % Contract liabilities, current portion $ 2,893 $ 2,945 $ (52) (1.8) % Contract liabilities, noncurrent portion $ 16,528 $ 16,528 $ — — % Contract assets includes amounts for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts were as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 682

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jul. 01, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments That Are Not Carried At Fair Value	The following table presents the carrying value and fair value of financial instruments that are not carried at fair value: July 1, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value In thousands Debt (1) $ 199,500 $ 186,832 $ 191,876 $ 213,222 (1) These amounts are classified within Level 2.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jul. 01, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: July 1, December 31, In thousands Raw materials $ 22,661 $ 19,123 Contracts and other work in process (including certain general stock materials) 155,214 138,737 Finished goods 36,813 35,240 Inventories $ 214,688 $ 193,100
Inventory Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Contract Costs	Inventories include amounts associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs. These amounts were as follows: July 1, December 31, In thousands Contract changes, negotiated settlements and claims for unanticipated contract costs $ — $ 552

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
Goodwill and Other Intangible Assets, Net (Tables)	Jul. 01, 2022
Intangible Assets, Net (Including Goodwill) [Abstract]
Schedule of Goodwill	The following table sets forth the change in the carrying amount of goodwill for each reportable segment and for the Company: Engineered Products Precision Products Structures Total In thousands Gross balance at December 31, 2021 $ 199,306 $ 41,375 $ 66,559 $ 307,240 Accumulated impairment — — (66,559) (66,559) Net balance at December 31, 2021 199,306 41,375 — 240,681 Additions — — — — Impairments — — — — Foreign currency translation (7,546) — — (7,546) Ending balance at July 1, 2022 $ 191,760 $ 41,375 $ — $ 233,135 Accumulated impairment at end of period $ — $ — $ (66,559) $ (66,559)
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	Other intangible assets consisted of: At July 1, At December 31, 2022 2021 Amortization Gross Accumulated Gross Accumulated In thousands Customer lists / relationships 6-38 years $ 125,278 $ (36,831) $ 127,206 $ (35,096) Developed technologies 7-20 years 44,449 (15,313) 45,170 (13,591) Trademarks / trade names 15-40 years 16,555 (2,790) 16,982 (2,659) Non-compete agreements and other 1-15 years 4,497 (4,486) 4,629 (4,617) Patents 17 years 523 (479) 523 (473) Total $ 191,302 $ (59,899) $ 194,510 $ (56,436) The changes in the gross amounts of the Company's other intangible assets were primarily due to changes in foreign currency exchange rates.

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Jul. 01, 2022
Debt Disclosure [Abstract]
Schedule of Changes in Conversion Rate for Convertible Notes	The following table illustrates the conversion rate at the date of issuance of the 2024 Notes: 2024 Notes Conversion Rate per $1,000 principal amount (1) 15.3227 Conversion Price (2) 65.2626 Contingent Conversion Price (3) 84.8413 Aggregate shares to be issued upon conversion (4) 3,056,879 (1) Represents the number of shares of Common Stock hypothetically issuable per each $1,000 principal amount of 2024 Notes, subject to adjustments upon the occurrence of certain specified events in accordance with the terms of the Indenture. (2) Represents $1,000 divided by the conversion rate as of such date. The conversion price reflects the strike price of the embedded option within the 2024 Notes. If the Company's share price exceeds the conversion price at conversion, the noteholders would be entitled to receive additional consideration either in cash, shares or a combination thereof, the form of which is at the sole discretion of the Company. (3) Prior to November 1, 2023, the notes are convertible only in the following circumstances: (1) during any fiscal quarter commencing after July 1, 2017, and only during any such fiscal quarter, if the last reported sale price of the Company's common stock was greater than or equal to 130% of the applicable conversion price for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter, (2) during the five consecutive business day period following any ten consecutive trading day period (the "measurement period") in which the trading price per $1,000 principal amount of 2024 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the conversion rate on each such trading day or (3) upon the occurrence of specified corporate events. On or after November 1, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their notes at any time, regardless of the foregoing circumstances. If the Company undergoes a fundamental change (as defined in the Indenture), holders of the notes may require the Company to repurchase all or a portion of their notes for cash at a repurchase price equal to 100% of the principal amount to be repurchased, plus any accrued and unpaid interest. As of July 1, 2022, none of the conditions permitting the holders of the 2024 Notes to convert had been met. Therefore, the 2024 Notes are classified as long-term debt. (4) This represents the number of shares hypothetically issuable upon conversion of 100% of the outstanding aggregate principal amount of the 2024 Notes at each date; however, the terms of the 2024 Notes state that the Company may pay or deliver, as the case may be, cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election. The Company currently intends to settle the aggregate principal amount in cash. Amounts due in excess of the principal, if any, also may be settled in cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election.
Schedule of Equity and Liability Components in Convertible Debt	The carrying amount of the equity component and the principal amount of the liability component, the unamortized discount and the net carrying value of the liability are as follows: 2024 Notes July 1, December 31, In thousands Principal amount of liability $ 199,500 $ 199,500 Unamortized discount (1) — 7,624 Carrying value of liability $ 199,500 $ 191,876 Equity component (1) $ — $ 20,408
Interest Expense Associated with Convertible Notes	Interest expense associated with the 2024 Notes consisted of the following: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Contractual coupon rate of interest $ 1,621 $ 1,621 $ 3,242 $ 3,242 Accretion of convertible notes discount (1) — 747 — 1,484 Interest expense - convertible notes $ 1,621 $ 2,368 $ 3,242 $ 4,726 (1) In accordance with ASU 2020-06, entities that previously required separate accounting for conversion features will report less interest expense as those conversion features were recorded as debt discounts which were amortized over the term of the debt. Refer to Note 2, Recent Accounting Standards , for further information on the adoption of ASU 2020-06.

Pension Plans (Tables)

Pension Plans (Tables)	6 Months Ended
Pension Plans (Tables)	Jul. 01, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Benefit Costs	Components of net pension cost for the Qualified Pension Plan and Supplemental Employees’ Retirement Plan ("SERP") were as follows: For the Three Months Ended Qualified Pension Plan SERP July 1, July 2, July 1, July 2, In thousands Service cost (1) $ 882 $ (649) $ — $ — Interest cost on projected benefit obligation 4,349 3,558 22 14 Expected return on plan assets (10,564) (11,314) — — Amortization of net loss 1,154 1,147 15 18 Net pension (income) cost $ (4,179) $ (7,258) $ 37 $ 32 (1) In the second quarter of 2021, the Company elected to use the alternative method to calculate the Pension Benefit Guaranty Corporation premium. The change resulted in a $3.9 million decrease to the 2021 premium, which is included in the service cost. Due to this election and the reduction of the premium, the Company reversed $1.0 million of service cost in the three-month fiscal period ended July 2, 2021, which was previously incurred in the first quarter of 2021. 14. PENSION PLANS (CONTINUED) For the Six Months Ended Qualified Pension Plan SERP July 1, July 2, July 1, July 2, In thousands Service cost $ 1,682 $ 651 $ — $ — Interest cost on projected benefit obligation 8,599 7,083 44 29 Expected return on plan assets (21,089) (22,589) — — Amortization of net loss 2,129 2,222 30 35 Net pension (income) cost $ (8,679) $ (12,633) $ 74 $ 64

Computation of Earnings Per S_2

Computation of Earnings Per Share (Tables)	6 Months Ended
Computation of Earnings Per Share (Tables)	Jul. 01, 2022
Earnings Per Share Reconciliation [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands, except per share amounts Net earnings $ 4,064 $ 11,856 $ 8,092 $ 19,840 Basic: Weighted average number of shares outstanding 28,005 27,867 27,977 27,841 Basic earnings per share $ 0.15 $ 0.43 $ 0.29 $ 0.71 Diluted (1) : Weighted average number of shares outstanding 28,005 27,867 27,977 27,841 Weighted average shares issuable on exercise of dilutive stock options 54 46 94 49 Total 28,059 27,913 28,071 27,890 Diluted earnings per share $ 0.14 $ 0.42 $ 0.29 $ 0.71

Share-based Arrangements (Table

Share-based Arrangements (Tables)	6 Months Ended
Share-based Arrangements (Tables)	Jul. 01, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock Option Activity	Stock option activity was as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Options Weighted - average Options Weighted - average Options outstanding at beginning of period 733,493 $ 55.29 746,240 $ 55.14 Granted — $ — — $ — Exercised — $ 42.86 (9,676) $ 41.90 Forfeited or expired (6,802) $ 53.53 (9,873) $ 40.41 Options outstanding at July 1, 2022 726,691 $ 55.32 726,691 $ 55.32
Fair Value Assumptions	The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. No options were granted in the six-month fiscal period ended July 1, 2022. The following table indicates the weighted-average assumptions used in estimating fair value for the six-month fiscal period ended July 2, 2021: For the Six Months Ended July 2, 2021 Expected option term (years) 4.9 Expected volatility 35.7 % Risk-free interest rate 0.5 % Expected dividend yield 1.6 % Per share fair value of options granted $14.89
Restricted Stock Award and Restricted Stock Unit Activity	Restricted stock award and restricted stock unit activity were as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Restricted Stock Weighted- Restricted Stock Weighted- Restricted Stock outstanding at beginning of period 164,791 $ 47.96 135,351 $ 53.53 Granted 19,900 $ 43.15 100,015 $ 41.94 Vested (28,731) $ 44.84 (75,329) $ 49.80 Forfeited or expired (3,760) $ 50.00 (7,837) $ 51.51 Restricted Stock outstanding at July 1, 2022 152,200 $ 47.87 152,200 $ 47.87
Share-based Payment Arrangement, Performance Shares, Activity	Performance stock unit activity was as follows: For the Three Months Ended For the Six Months Ended July 1, 2022 July 1, 2022 Performance Stock Weighted- Performance Stock Weighted- Performance Stock outstanding at beginning of period 184,405 $ 60.98 70,163 $ 70.17 Granted (1) — $ — 117,885 $ 54.87 Vested — $ — — $ — Forfeited or expired (4,285) $ 61.38 (7,928) $ 61.32 Performance Stock outstanding at July 1, 2022 180,120 $ 60.55 180,120 $ 60.55 (1) The PSUs granted in 2022 and 2021 assumed a 100% achievement level.
Schedule of Share-based Payment Awards, Performance Shares, Valuation Assumptions	The following table indicates the weighted-average assumptions used in estimating fair value: For the Six Months Ended July 1, 2022 July 2, 2021 Expected term (years) 2.9 2.9 Expected volatility 39.4 % 41.3 % Risk-free interest rate 1.7 % 0.2 % Expected dividend yield 1.9 % 1.4 % Per share fair value of performance stock granted $ 68.10 $ 84.49

Shareholders' Equity and Accu_2

Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jul. 01, 2022
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Changes in shareholders’ equity for the three-month fiscal periods ended July 1, 2022, and July 2, 2021, were as follows: For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, In thousands Beginning balance $ 786,748 $ 767,219 796,329 746,438 Comprehensive (loss) income (5,297) 14,474 (5,725) 38,813 Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively) (5,597) (5,565) (11,187) (11,127) Employee stock plans and related tax benefit 481 648 1,266 1,528 Purchase of treasury shares (123) (46) (698) (390) Share-based compensation expense 2,730 2,482 4,811 4,225 Impact of change in accounting standard — — (5,854) (275) Ending balance $ 778,942 $ 779,212 $ 778,942 $ 779,212
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) are shown below: For the Three Months Ended July 1, July 2, In thousands Foreign currency translation and other: Beginning balance $ 3,554 $ 14,796 Net (gain) loss on foreign currency translation (10,261) 1,719 Other comprehensive income (loss), net of tax (10,261) 1,719 Ending balance $ (6,707) $ 16,515 Pension and other post-retirement benefits (1) : Beginning balance $ (119,395) $ (129,262) Amortization of net loss, net of tax expense of $269 and $266, respectively 900 899 Other comprehensive income, net of tax 900 899 Ending balance $ (118,495) $ (128,363) Total accumulated other comprehensive loss $ (125,202) $ (111,848) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 14, Pension Plans for additional information.) 18. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) For the Six Months Ended July 1, July 2, In thousands Foreign currency translation and other: Beginning balance $ 8,772 $ (717) Net gain on foreign currency translation (15,479) (5,603) Reclassification to net income (1) — 22,835 Other comprehensive income (loss), net of tax (15,479) 17,232 Ending balance $ (6,707) $ 16,515 Pension and other post-retirement benefits (2) : Beginning balance $ (120,157) $ (130,104) Amortization of net loss, net of tax expense of $497 and $516, respectively 1,662 1,741 Other comprehensive income, net of tax 1,662 1,741 Ending balance $ (118,495) $ (128,363) Total accumulated other comprehensive loss $ (125,202) $ (111,848) (1) The foreign currency translation reclassified to net income relates to the sale of the Company's UK Composites business. This balance was included in the loss accrual recorded in impairment on assets held for sale on the Company's Consolidated Statement of Operations in the year ended December 31, 2020 (see Note 3, Disposals , for additional information). (2) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 14, Pension Plans for additional information.)

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jul. 01, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rates	For the Three Months Ended For the Six Months Ended July 1, July 2, July 1, July 2, Effective Income Tax Rate 12.1 % 31.7 % 18.7 % 22.3 %

Recent Accounting Standards (De

Recent Accounting Standards (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Jan. 01, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Deferred income taxes	$ 15,335	$ 17,487	$ 15,717
Long-term debt, excluding current portion, net of debt issuance costs	197,542	197,045	189,421
Additional paid-in capital	241,597	235,664	248,153
Retained earnings	753,985	757,080	750,445
Cumulative Effect Adjustment - ASU Adoption [Line Items]
Deferred income taxes	15,335	17,487	15,717
Long-term debt, excluding current portion, net of debt issuance costs	197,542	197,045	189,421
Additional paid-in capital	241,597	235,664	248,153
Retained earnings	$ 753,985	757,080	$ 750,445
Accounting Standards Update 2020-06 Cumulative Effect, Period of Adoption
Accounting Policies [Abstract]
Deferred income taxes		1,770
Long-term debt, excluding current portion, net of debt issuance costs		7,624
Additional paid-in capital		12,489
Retained earnings		6,635
Cumulative Effect Adjustment - ASU Adoption [Line Items]
Deferred income taxes		1,770
Long-term debt, excluding current portion, net of debt issuance costs		7,624
Additional paid-in capital		12,489
Retained earnings		$ 6,635

Disposals (Details)

Disposals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended			12 Months Ended	24 Months Ended	34 Months Ended
Disposals (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021	Jul. 03, 2020	Dec. 31, 2020	Dec. 31, 2021	Jul. 01, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Costs of Transaction Services Agreement	$ 0	$ 999	$ 0	$ 1,704				$ 18,900
Income from Transaction Services Agreement	0	(442)	0	(917)				(13,000)
Proceeds from Divestiture of Businesses					$ 5,200
Gain (Loss) on Disposition of Business	$ 0	0	0	234
UK Composites
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business				200		$ 36,300	$ 36,500
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents						$ 6,600
Distribution
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from Transaction Services Agreement		$ 400		900
Cash Outflows [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Amount of Continuing Cash Flows after Disposal			$ 0	0				8,700
Cash Inflows [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Amount of Continuing Cash Flows after Disposal				$ 1,500				$ 19,100

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	Jul. 01, 2022	May 21, 2022	Dec. 31, 2021	Jan. 03, 2020
Acquired Indefinite-lived Intangible Assets [Line Items]
Equity Method Investments	$ 10,000
Near Earth Autonomy
Acquired Indefinite-lived Intangible Assets [Line Items]
Equity Method Investments	$ 10,000		$ 0
Bal Seal [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 317,500
Parker Aircraft Wheels & Brakes
Acquired Indefinite-lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 440,000

Business Combinations Retention

Business Combinations Retention Plans (Details) $ in Millions	Jan. 03, 2020 USD ($)
Bal Seal [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restricted Cash, Current	$ 24.7

Segment and Geographic Inform_3

Segment and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 160,766	$ 182,394	$ 318,814	$ 354,010
Operating Income (Loss)	$ 2,280	$ 14,832	$ 5,337	$ 20,445
Revenue, Net, Percentage	100%	100%	100%	100%
Research and Development Expense	$ 5,215	$ 3,238	$ 10,328	$ 7,464
Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	32,069	39,780	63,299	83,391
Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 21,563	$ 58,006	$ 58,885	$ 99,592
Revenue, Net, Percentage	13%	32%	18%	28%
Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 60,858	$ 41,130	$ 107,816	$ 89,088
Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	25,000	22,862	48,128	43,445
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 21,276	$ 20,616	$ 40,686	$ 38,494
Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	67%	55%	65%	59%
Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	20%	13%	17%	13%
Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	$ 89,765	$ 78,956	$ 171,217	$ 150,735
Operating Income (Loss)	$ 15,467	$ 9,758	$ 26,509	$ 14,664
Revenue, Net, Percentage	56%	43%	54%	43%
Research and Development Expense	$ 2,121	$ 1,781	$ 4,364	$ 4,603
Engineered Products \| Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	9,342	11,857	18,995	23,085
Engineered Products \| Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
Revenue, Net, Percentage	0%	0%	0%	0%
Engineered Products \| Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 37,644	$ 26,860	$ 70,022	$ 51,932
Engineered Products \| Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	22,683	21,025	43,832	39,677
Engineered Products \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 20,096	$ 19,214	$ 38,368	$ 36,041
Engineered Products \| Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	43%	34%	42%	34%
Engineered Products \| Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	13%	9%	12%	9%
Precision Products
Disaggregation of Revenue [Line Items]
Net sales	$ 41,267	$ 71,539	$ 88,816	$ 132,072
Operating Income (Loss)	$ 2,550	$ 19,429	$ 5,959	$ 32,482
Revenue, Net, Percentage	26%	39%	28%	37%
Research and Development Expense	$ 2,984	$ 1,436	$ 5,787	$ 2,838
Precision Products \| Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	6,629	7,259	11,951	14,253
Precision Products \| Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 21,563	$ 58,006	$ 58,885	$ 99,592
Revenue, Net, Percentage	13%	32%	18%	28%
Precision Products \| Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 11,895	$ 4,872	$ 15,662	$ 15,774
Precision Products \| Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Precision Products \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 1,180	$ 1,402	$ 2,318	$ 2,453
Precision Products \| Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	6%	3%	5%	5%
Precision Products \| Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	7%	4%	5%	4%
Structures
Disaggregation of Revenue [Line Items]
Net sales	$ 29,734	$ 31,899	$ 58,781	$ 71,203
Operating Income (Loss)	$ (830)	$ (1,521)	$ (1,447)	$ (1,201)
Revenue, Net, Percentage	18%	18%	18%	20%
Research and Development Expense	$ 110	$ 21	$ 177	$ 23
Structures \| Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	16,098	20,664	32,353	46,053
Structures \| Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
Revenue, Net, Percentage	0%	0%	0%	0%
Structures \| Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 11,319	$ 9,398	$ 22,132	$ 21,382
Structures \| Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	2,317	1,837	4,296	3,768
Structures \| Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
Structures \| Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	18%	18%	18%	20%
Structures \| Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	0%	0%	0%	0%
Corporate Segment
Disaggregation of Revenue [Line Items]
Operating Income (Loss)	$ (11,984)	$ (10,314)	$ (22,532)	$ (20,679)
Other unallocated expenses, net
Disaggregation of Revenue [Line Items]
Operating Income (Loss)	$ (2,923)	$ (2,520)	$ (3,152)	$ (4,821)

Revenue Changes in Revenue due

Revenue Changes in Revenue due to Estimates in Over Time Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Change in Accounting Estimate [Line Items]
Net sales	$ 160,766	$ 182,394	$ 318,814	$ 354,010
Performance obligations satisfied in previous periods [Member]
Change in Accounting Estimate [Line Items]
Reductions in Revenues	$ 567	$ (3,446)	$ 1,472	$ (581)

Revenue Unfulfilled Performance

Revenue Unfulfilled Performance Obligations (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 774,908	$ 700,923
Revenue, Remaining Performance Obligation, Percentage	59%
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 774,908	700,923
Engineered Products
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	224,563	169,144
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	224,563	169,144
Precision Products
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	196,406	180,082
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	196,406	180,082
Structures
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	353,939	351,697
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 353,939	$ 351,697

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Restructuring Costs (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and severance costs	$ 2,927	$ 1,516	$ 3,096	$ 2,868
Severance costs	1,000		1,000
G&A Reduction Effort [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 1,900	$ 1,500	$ 2,100	$ 2,900

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for doubtful accounts	$ (1,306)	$ (1,547)
Accounts receivable, net	77,692	73,524
Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	29,274	19,228
U.S. Government contracts \| Billed \| Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	15,605	14,748
U.S. Government contracts \| Not billed \| Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	275	167
Commercial and other government contracts \| Billed \| Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	33,844	36,787
Commercial and other government contracts \| Not billed \| Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 0	$ 4,141

Accounts Receivable, Net Allowa

Accounts Receivable, Net Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2021
Allowance for Doubtful Accounts [Abstract]
Less allowance for doubtful accounts	$ (1,306)	$ (1,547)
Provision for Other Credit Losses	(257)
Accounts Receivable, Allowance for Credit Loss, Writeoff	197
Accounts Receivable, Allowance for Credit Loss, Recovery	297
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	$ 4

Accounts Receivable, Net - Acco

Accounts Receivable, Net - Accounts Receivable due to contract changes, negotiated settlements and claims for unanticipated cost (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Contract changes, negotiated settlements and claims for unanticipated contract costs	$ 0	$ 900

Contract Assets, Contract Cos_3

Contract Assets, Contract Costs and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Contract assets	$ 109,290		$ 109,290		$ 112,354
Contract assets, change			$ (3,064)
Contract assets, change (as percent)			(2.70%)
Contract costs, current portion	909		$ 909		850
Capitalized costs, current portion, change			$ 59
Capitalized costs, current portion, change (as percent)			6.90%
Contract costs, noncurrent portion	9,865		$ 9,865		10,249
Capitalized costs, noncurrent portion, change			$ (384)
Capitalized costs, noncurrent portion, change (as percent)			(3.70%)
Contract liabilities, current portion	2,893		$ 2,893		2,945
Contract liabilities, current portion, change			$ (52)
Contract liabilities, current portion, change (as percent)			(1.80%)
Contract liabilities, noncurrent portion	16,528		$ 16,528		16,528
Contract liabilities, noncurrent portion, change			$ 0
Contract liabilities, noncurrent portion, change (as percent)			0%
Capitalized contract cost, amortization	200	$ 3,200	$ 300	$ 5,100
Revenue recognized related to contract liabilities	700	$ 20,500	1,200	$ 29,900
Contract changes, negotiated settlements and claims for unanticipated contract costs
Disaggregation of Revenue [Line Items]
Contract assets	0		0		682
Costs to Fulfill [Member]
Disaggregation of Revenue [Line Items]
Capitalized Contract Cost, Net	10,800		10,800		11,100
Costs to Obtain [Member]
Disaggregation of Revenue [Line Items]
Capitalized Contract Cost, Net	$ 0		$ 0		$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments not carried at Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money Market Funds, at Carrying Value	$ 55,600	$ 65,500
Goodwill, Impairment Loss	0
Level 2 \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	199,500	191,876
Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 186,832	$ 213,222

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 22,661	$ 19,123
Contracts and other work in process (including certain general stock materials)	155,214	138,737
Finished goods	36,813	35,240
Inventories	$ 214,688	$ 193,100

Inventories - Inventory Due to

Inventories - Inventory Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Contract Costs (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Contract changes, negotiated settlements and claims for unanticipated contract costs	$ 0	$ 552

Inventories - Other Inventory I

Inventories - Other Inventory Information (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Schedule of Inventory [Line Items]
Inventories	$ 214,688	$ 193,100
K-MAX®
Schedule of Inventory [Line Items]
Inventory, gross	68,800	69,200
Inventory noncurrent	46,700
SH 2GA Super Seasprite Program
Schedule of Inventory [Line Items]
Inventory, gross	6,400	$ 6,000
Inventory noncurrent	$ 4,500

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Gross balance at beginning of period		$ 307,240
Accumulated impairment	$ (66,559)	(66,559)
Net balance at beginning of period	240,681
Additions	0
Impairments	0
Foreign currency translation	(7,546)
Net balance at end of period	233,135	240,681
Engineered Products
Goodwill [Roll Forward]
Gross balance at beginning of period		199,306
Accumulated impairment	0	0
Net balance at beginning of period	199,306
Additions	0
Impairments	0
Foreign currency translation	(7,546)
Net balance at end of period	191,760	199,306
Precision Products
Goodwill [Roll Forward]
Gross balance at beginning of period		41,375
Accumulated impairment	0	0
Net balance at beginning of period	41,375
Additions	0
Impairments	0
Foreign currency translation	0
Net balance at end of period	41,375	41,375
Structures
Goodwill [Roll Forward]
Gross balance at beginning of period		66,559
Accumulated impairment	(66,559)	(66,559)
Net balance at beginning of period	0
Additions	0
Impairments	0
Foreign currency translation	0
Net balance at end of period	$ 0	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 191,302	$ 194,510
Accumulated Amortization	(59,899)	(56,436)
Customer lists / relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	125,278	127,206
Accumulated Amortization	(36,831)	(35,096)
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Amount	44,449	45,170
Accumulated Amortization	(15,313)	(13,591)
Trademarks / trade names
Finite-Lived Intangible Assets [Line Items]
Gross Amount	16,555	16,982
Accumulated Amortization	(2,790)	(2,659)
Non-compete agreements and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	4,497	4,629
Accumulated Amortization	$ (4,486)	(4,617)
Patents
Finite-Lived Intangible Assets [Line Items]
Amortization Period	17 years
Gross Amount	$ 523	523
Accumulated Amortization	$ (479)	$ (473)
Minimum \| Customer lists / relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	6 years
Minimum \| Developed technologies
Finite-Lived Intangible Assets [Line Items]
Amortization Period	7 years
Minimum \| Trademarks / trade names
Finite-Lived Intangible Assets [Line Items]
Amortization Period	15 years
Minimum \| Non-compete agreements and other
Finite-Lived Intangible Assets [Line Items]
Amortization Period	1 year
Maximum \| Customer lists / relationships
Finite-Lived Intangible Assets [Line Items]
Amortization Period	38 years
Maximum \| Developed technologies
Finite-Lived Intangible Assets [Line Items]
Amortization Period	20 years
Maximum \| Trademarks / trade names
Finite-Lived Intangible Assets [Line Items]
Amortization Period	40 years
Maximum \| Non-compete agreements and other
Finite-Lived Intangible Assets [Line Items]
Amortization Period	15 years

Debt (Details)

Debt (Details)		3 Months Ended		6 Months Ended
Debt (Details)	May 12, 2017 USD ($) $ / shares	Jul. 01, 2022 USD ($) shares	Jul. 02, 2021 USD ($)	Jul. 01, 2022 USD ($) Integer shares	Jul. 02, 2021 USD ($)	May 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 13, 2019 USD ($)	May 24, 2017 USD ($) $ / shares
Debt Disclosure [Abstract]
Debt Instrument, Face Amount							$ 199,500,000
Debt Instrument [Line Items]
Capped Call Transaction Cap Price \| $ / shares	$ 88.7570
Purchase of call options related to convertible notes	$ 20,500,000
Debt Instrument, Convertible, Debt Instrument										$ 179,500,000
Debt Instrument, Interest Rate, Effective Percentage										5%
Amortization of debt issuance costs				$ 1,024,000	$ 882,000
Debt Instrument, Face Amount							$ 199,500,000
Accretion of convertible notes discount				$ 0	1,484,000
Debt, Weighted Average Interest Rate		3.25%		3.25%			3.25%
Credit Agreement 2019
Debt Instrument [Line Items]
Debt Instrument, Basis Points		1		1
Consolidated Total Indebtedness to Consolidated EBITDA, Ratio		4		4
Consideration for Permitted Acquisition under Credit Agreement, Number of Consecutive Quarters		4		4
Total Consolidated Leverage Ratio, pre-amendment		4.50		4.50
Consolidated Total Leverage Ratio, First Anniversary		5		5
Consolidated Total Leverage Ratio, Second Anniversary		4.50		4.50
Consolidated Total Leverage Ratio, Between First and Second Anniversaries		4.75		4.75
2024 Notes
Debt Disclosure [Abstract]
Debt Instrument, Face Amount		$ 199,500,000		$ 199,500,000						$ 200,000,000
Debt Instrument, Face Amount Before Overallotment										175,000,000
Debt Instrument Face Amount Overallotment										$ 25,000,000
Debt Instrument, Interest Rate, Stated Percentage										3.25%
Multiple, Debt Instrument	$ 1,000							$ 1,000
Debt Instrument, Repurchased Face Amount								$ 500,000
Percent, Debt Instrument, Repurchase Amount								0.25%
Debt Instrument, Convertible, Conversion Ratio	15.3227
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Ratio	15.3227
Debt Instrument, Convertible, Conversion Price \| $ / shares										$ 65.2626
Debt Instrument, Convertible, Contingent Conversion Price \| $ / shares	$ 84.8413
Aggregate shares to be issued upon conversion, convertible \| shares		3,056,879		3,056,879
Multiple, Debt Instrument	$ 1,000							$ 1,000
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger				130%
Debt Instrument, Convertible, Threshold Trading Days \| Integer				20
Debt Instrument, Convertible, Threshold Consecutive Trading Days \| Integer				30
Conversion Feature, Percentage of Average of Closing Sale Price of Common Stock				98%
Conversion Feature, Repurchase Price Percentage of Principal Amount				100%
Debt Issuance Costs, Gross										$ 7,400,000
Debt Issuance Costs, Recorded to APIC										700,000
Debt Issuance Costs, Recorded as Contra-debt										6,700,000
Amortization of debt issuance costs		$ 300,000	$ 300,000	$ 500,000	500,000
Debt Instrument, Face Amount		199,500,000		199,500,000						$ 200,000,000
Debt Instrument, Unamortized Discount		0		0			$ 7,624,000
Convertible Debt		199,500,000		199,500,000			191,876,000
Debt Instrument, Convertible, Carrying Amount of Equity Component		0		0			$ 20,408,000
Contractual coupon rate of interest, associated interest expense		1,621,000	1,621,000	3,242,000	3,242,000
Accretion of convertible notes discount		0	747,000	0	1,484,000
Interest Expense, Debt		1,621,000	2,368,000	3,242,000	4,726,000
Percent, Debt Instrument, Repurchase Amount								0.25%
Debt Instrument, Interest Rate, Stated Percentage										3.25%
Debt Instrument, Face Amount Before Overallotment										$ 175,000,000
Debt Instrument Face Amount Overallotment										$ 25,000,000
Debt Instrument, Repurchased Face Amount								$ 500,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 300,000	$ 200,000	$ 500,000	$ 400,000
Revolving Credit Facility [Member] \| Credit Agreement 2019
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity									$ 800,000,000
Debt Issuance Costs, Line of Credit Arrangements, Gross						$ 4,200,000			$ 3,600,000

Pension Plans - Pension plan ne

Pension Plans - Pension plan net periodic benefit costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Defined Benefit Plan Disclosure
Increase (Decrease) in PBGC Premium				$ 3,900
Defined Benefit Plan, Service Cost Benefit				1,000
Qualified Pension Plan
Defined Benefit Plan Disclosure
Service cost(1)	$ (882)		$ (1,682)	(651)
Interest cost on projected benefit obligation	4,349	$ 3,558	8,599	7,083
Expected return on plan assets	(10,564)	(11,314)	(21,089)	(22,589)
Amortization of net loss	1,154	1,147	2,129	2,222
Net pension (income) cost	(4,179)	(7,258)	(8,679)	(12,633)
Defined Benefit Plan, Service Cost Benefit		649
SERP
Defined Benefit Plan Disclosure
Service cost(1)	0	0	0	0
Interest cost on projected benefit obligation	22	14	44	29
Expected return on plan assets	0	0	0	0
Amortization of net loss	15	18	30	35
Net pension (income) cost	$ 37	$ 32	$ 74	$ 64

Pension Plans - Contributions (

Pension Plans - Contributions (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Qualified Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Contributions paid-to-date		$ 10
Expected future contributions	$ 0
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans
Contributions paid-to-date	0.3	$ 2.7
Expected future contributions	$ 0.2

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jul. 01, 2022 USD ($)
Offset Agreement
Loss Contingencies [Line Items]
Notional amount	$ 220.9
Estimate of possible loss	18.8
Contract with Customer, Liability	16.5
New Hartford
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	2.3
Payments for environmental remediation	1.7
New Hartford \| Other accruals and payables
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	0.1
New Hartford \| Accruals and payables and other long-term liabilties
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	0.6
Bloomfield
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	1.9
Payments for environmental remediation	15.4
Environmental liability	10.3
Estimated remediation liability	$ 20.8
Discount rate (as a percent)	8%
Bloomfield \| Other accruals and payables
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	$ 0.2
Pension Costs
Loss Contingencies [Line Items]
Accrual for claims	$ 0.3

Computation of Earnings Per S_3

Computation of Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Earnings Per Share Reconciliation [Abstract]
Net earnings	$ 4,064	$ 11,856	$ 8,092	$ 19,840
Basic:
Weighted average number of shares outstanding (in shares)	28,005	27,867	27,977	27,841
Basic earnings per share (in usd per share)	$ 0.15	$ 0.43	$ 0.29	$ 0.71
Diluted(1):
Weighted average shares issuable on exercise of dilutive stock options (in shares)	54	46	94	49
Diluted (in shares)	28,059	27,913	28,071	27,890
Diluted earnings per share (in usd per share)	$ 0.14	$ 0.42	$ 0.29	$ 0.71

Computation of Earnings Per S_4

Computation of Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
2024 Notes
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Aggregate shares to be issued upon conversion, convertible	3,056,879		3,056,879
Stock Compensation Plan
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS	720,540	482,339	682,971	461,649

Share-based Arrangements - Comp

Share-based Arrangements - Compensation Arrangements by Share-based Payment Award (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 2,730	$ 2,482	$ 4,811	$ 4,225
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	2,700	2,500	4,800	4,200
Employee Severance
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 100	$ 200	$ 100	$ 200

Share-based Arrangements - Stoc

Share-based Arrangements - Stock Options Activity (Details) - Stock Options - $ / shares	3 Months Ended	6 Months Ended
	Jul. 01, 2022	Jul. 01, 2022	Jul. 02, 2021	Apr. 01, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of the period (in shares)	733,493	746,240
Granted (in shares)	0	0
Exercised (in shares)	0	(9,676)
Forfeited or expired (in shares)	(6,802)	(9,873)
Outstanding at end of period (in shares)	726,691	726,691
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding at beginning of period, Weighted-average exercise price (in usd per share)	$ 55.32	$ 55.32		$ 55.29	$ 55.14
Granted, Weighted-average exercise price (in usd per share)	0	0
Exercised, Weighted-average exercise price (in usd per share)	42.86	41.90
Forfeited or expired, Weighted average exercise price (in usd per share)	53.53	40.41
Options outstanding end of period, Weighted-average exercise price (in usd per share)	$ 55.32	$ 55.32		$ 55.29	$ 55.14
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Expected option term			4 years 10 months 24 days
Expected volatility			35.70%
Risk-free interest rate			0.50%
Expected dividend yield			1.60%
Per share fair value of options granted (in usd per share)			$ 14.89

Share-based Arrangements - Rest

Share-based Arrangements - Restricted Stock Activity (Details) - Restricted Stock Awards - $ / shares	3 Months Ended	6 Months Ended
	Jul. 01, 2022	Jul. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted Stock outstanding at beginning of the period (in shares)	164,791	135,351
Granted (in shares)	19,900	100,015
Vested (in shares)	(28,731)	(75,329)
Forfeited or expired (in shares)	(3,760)	(7,837)
Restricted Stock outstanding at end of period (in shares)	152,200	152,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted Stock outstanding at beginning of period, Weighted-average grant date fair value (usd per share)	$ 47.96	$ 53.53
Granted, Weighted Average Grant Date Fair Value (usd per share)	43.15	41.94
Vested, Weighted Average Grant Date Fair Value (usd per share)	44.84	49.80
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	50	51.51
Restricted Stock outstanding at end of period Weighted-average grant date fair value (usd per share)	$ 47.87	$ 47.87

Share-based Arrangements Perfor

Share-based Arrangements Performance Shares (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jul. 01, 2022	Jul. 01, 2022	Jul. 02, 2021	Apr. 01, 2022	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100%	100%
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100%	100%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Expected option term			4 years 10 months 24 days
Expected volatility			35.70%
Risk-free interest rate			0.50%
Expected dividend yield			1.60%
Per share fair value of options granted (in usd per share)			$ 14.89
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	152,200	152,200		164,791	135,351
Granted (in shares)	19,900	100,015
Vested (in shares)	(28,731)	(75,329)
Forfeited or expired (in shares)	(3,760)	(7,837)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 47.87	$ 47.87		$ 47.96	$ 53.53
Granted, Weighted Average Grant Date Fair Value (usd per share)	43.15	41.94
Vested, Weighted Average Grant Date Fair Value (usd per share)	44.84	49.80
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	$ 50	$ 51.51
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	180,120	180,120		184,405	70,163
Granted (in shares)	0	117,885
Vested (in shares)	0	0
Forfeited or expired (in shares)	(4,285)	(7,928)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 60.55	$ 60.55		$ 60.98	$ 70.17
Granted, Weighted Average Grant Date Fair Value (usd per share)	0	54.87
Vested, Weighted Average Grant Date Fair Value (usd per share)	0	0
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	$ 61.38	$ 61.32
Expected option term		2 years 10 months 24 days	2 years 10 months 24 days
Expected volatility		39.40%	41.30%
Risk-free interest rate		1.70%	0.20%
Expected dividend yield		1.90%	1.40%
Per share fair value of options granted (in usd per share)		$ 68.10	$ 84.49

Shareholders' Equity and Accu_3

Shareholders' Equity and Accumulated Other Comprehensive Income - Changes in Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Schedule of Capitalization, Equity [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 786,748	$ 767,219	$ 796,329	$ 746,438
Comprehensive (loss) income	(5,297)	14,474	(5,725)	38,813
Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively)	(5,597)	(5,565)	(11,187)	(11,127)
Employee stock plans and related tax benefit	481	648	1,266	1,528
Purchase of treasury shares	(123)	(46)	(698)	(390)
Share-based compensation expense	2,730	2,482	4,811	4,225
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(10,261)	1,719	(15,479)	(5,603)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]		0		(275)
Ending balance	778,942	$ 779,212	778,942	$ 779,212
Accounting Standards Update 2020-06 Cumulative Effect, Period of Adoption
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	$ 0		$ (5,854)

Shareholders' Equity and Accu_4

Shareholders' Equity and Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax			$ 0	$ 22,835
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 786,748	$ 767,219	796,329	746,438
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(10,261)	1,719	(15,479)	(5,603)
Other comprehensive (loss) income	(9,361)	2,618	(13,817)	18,973
Ending balance	778,942	779,212	778,942	779,212
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	$ 269	$ 266	$ 497	$ 516
Common Stock, Dividends, Per Share, Declared	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Total accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Ending balance	$ (125,202)	$ (111,848)	$ (125,202)	$ (111,848)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,554	14,796	8,772	(717)
Other comprehensive (loss) income	(10,261)	1,719	(15,479)	17,232
Ending balance	(6,707)	16,515	(6,707)	16,515
Pension and other post-retirement benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	900	899	1,662	1,741
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(119,395)	(129,262)	(120,157)	(130,104)
Other comprehensive (loss) income	900	899	1,662	1,741
Ending balance	$ (118,495)	$ (128,363)	$ (118,495)	$ (128,363)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate (Details)	3 Months Ended		6 Months Ended
Income Taxes - Effective Income Tax Rate (Details)	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	12.10%	31.70%	18.70%	22.30%