Kaman (KAMN) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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		28,219,535
Entity Central Index Key	0000054381
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 34,283	$ 24,154
Accounts receivable, net	101,730	87,659
Contract assets	106,381	113,182
Inventories	192,785	172,383
Income tax refunds receivable	4,514	14,843
Other current assets	21,194	16,114
Total current assets	460,887	428,335
Property, plant and equipment, net of accumulated depreciation of $279,746 and $268,089, respectively	203,678	201,606
Operating Lease, Right-of-Use Asset	6,144	7,391
Goodwill	382,971	379,854
Other intangible assets, net	358,333	372,331
Deferred income taxes	45,595	47,385
Other assets	55,524	51,207
Total assets	1,513,132	1,488,109
Current liabilities:
Accounts payable – trade	49,881	48,277
Accrued salaries and wages	29,690	31,395
Contract liabilities, current portion	7,826	4,081
Operating Lease, Liability, Current	3,024	3,332
Income taxes payable	1,328	393
Other current liabilities	38,317	39,097
Total current liabilities	328,659	126,575
Long-Term Debt, Current Maturities	198,593	0
Long-term debt, excluding current portion, net of debt issuance costs	384,000	561,061
Deferred income taxes	6,804	6,079
Underfunded pension	50,645	52,309
Contract liabilities, noncurrent portion	19,624	20,515
Operating Lease, Liability, Noncurrent	3,463	4,534
Other Liabilities, Noncurrent	33,608	36,280
Commitments and contingencies (Note 14)
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; 30,830,203 and 30,640,068 shares issued, respectively	30,830	30,640
Additional paid-in capital	250,152	245,436
Retained earnings	678,456	685,234
Accumulated other comprehensive income (loss)	$ (150,464)	$ (158,421)
Treasury Stock, Common, Shares	2,636,393	2,607,841
Less 2,636,393 and 2,607,841 shares of common stock, respectively, held in treasury, at cost	$ (122,645)	$ (122,133)
Total shareholders’ equity	686,329	680,756
Total liabilities and shareholders’ equity	$ 1,513,132	$ 1,488,109

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Statement [Abstract]
Net sales	$ 195,158	$ 160,766	$ 389,700	$ 318,814
Cost of sales	122,320	109,027	250,269	216,682
Program Inventory Impairment	596	0	596	0
Gross profit	72,242	51,739	138,835	102,132
Selling, general and administrative expenses	41,566	39,250	85,264	78,971
Research and Development Expense	5,193	5,215	11,100	10,328
Amortization of Intangible Assets	7,192	2,439	14,344	4,906
Restructuring and severance costs	272	2,927	2,462	3,096
Net loss (gain) on disposition of assets	449	(4)	418	56
Operating income	17,570	1,912	25,247	4,775
Interest expense, net	10,340	1,993	19,944	4,474
Non-service pension and post-retirement benefit income	(239)	(5,024)	(620)	(10,287)
Other expense (income), net	99	690	(472)	1,194
Earnings before income taxes	7,370	4,253	6,395	9,394
Income tax expense	2,115	479	1,909	1,745
Net earnings	$ 5,255	$ 3,774	$ 4,486	$ 7,649
Earnings per share:
Basic earnings per share (in usd per share)	$ 0.19	$ 0.13	$ 0.16	$ 0.27
Diluted earnings per share from continuing operations	$ 0.19	$ 0.13	$ 0.16	$ 0.27
Basic (in shares)	28,203	28,005	28,160	27,977
Diluted (in shares)	28,355	28,059	28,311	28,071

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 5,255	$ 3,774	$ 4,486	$ 7,649
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	931	(10,254)	3,469	(15,472)
Change in pension and post-retirement benefit plan liabilities, net of tax expense of $457 and $269 and $891 and $497, respectively	1,515	900	2,956	1,662
Other Comprehensive Income, Other, Net of Tax	1,883	(7)	1,532	(7)
Other comprehensive income (loss)	4,329	(9,361)	7,957	(13,817)
Comprehensive income (loss)	$ 9,584	$ (5,587)	$ 12,443	$ (6,168)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Net earnings	$ 5,255	$ 4,486	$ 7,649
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization		26,444	17,654
Amortization of debt issuance costs		2,317	1,024
Provision for doubtful accounts		1,125	263
Net loss (gain) on disposition of assets	449	418	56
Program Inventory Impairment	596	596	0	$ 44,500
Net (gain) loss on derivative instruments		(206)	1,646
Stock compensation expense	1,925	3,928	4,811
Non-cash consideration received for blade exchange		0	(827)
Deferred income taxes		1,043	2,050
Changes in assets and liabilities, excluding effects of acquisitions/divestitures:
Accounts receivable		(14,868)	(5,430)
Increase (Decrease) in Contract with Customer, Asset		6,816	2,936
Inventories		(21,094)	(23,849)
Income tax refunds receivable		10,332	(2,484)
Operating Right-of-Use Assets		1,264	1,748
Other assets		(3,713)	(2,493)
Accounts payable - trade		1,502	(9,701)
Contract liabilities		2,853	(38)
Operating Lease Liabilities		(1,396)	(1,703)
Other current liabilities		(4,059)	(8,635)
Income taxes payable		928	(160)
Pension liabilities		2,004	(8,873)
Increase (Decrease) in Other Noncurrent Liabilities		(1,914)	(2,598)
Net cash provided by operating activities		18,806	(26,954)
Cash flows from investing activities:
Expenditures for property, plant & equipment		(12,836)	(10,520)
Payments to Acquire Investments		0	(10,000)
Payments to Acquire Businesses, Net of Cash Acquired		1,487	0
Other, net		(1,020)	1,341
Net cash used in investing activities		(15,343)	(19,179)
Cash flows from financing activities:
Proceeds from (Repayments of) Other Long-Term Debt		(79,000)	0
Proceeds from (Repayments of) Lines of Credit		100,000	0
Purchase of treasury shares	0	(503)	(698)
Dividends paid		(11,233)	(11,163)
Payments of Debt Issuance Costs		(4,402)	(4,236)
Other, net		1,645	2,319
Net cash provided by (used in) financing activities		6,507	(13,778)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect		9,970	(59,911)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		159	(645)
Cash and cash equivalents at beginning of period					$ 140,800
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	34,283	34,283		24,154
Cash and cash equivalents at end of period	34,283	34,283	80,244	$ 24,154
Net earnings	$ 5,255	$ 4,486	$ 7,649

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals)) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 279,746	$ 268,089
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)	30,830,203	30,640,068
Treasury Stock, Common, Shares	2,636,393	2,607,841

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, Tax	$ 457	$ 269	$ 891	$ 497
Net earnings	5,255	3,774	4,486	7,649
Foreign currency translation adjustments	931	(10,254)	3,469	(15,472)
Change in pension and post-retirement benefit plan liabilities, net of tax expense of $457 and $269 and $891 and $497, respectively	1,515	900	2,956	1,662
Other Comprehensive Income, Other, Net of Tax	1,883	(7)	1,532	(7)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(215)	(7)	(306)	(7)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	4,329	(9,361)	7,957	(13,817)
Comprehensive income (loss)	9,584	(5,587)	12,443	(6,168)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ 568	$ 0	$ 462	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION 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 condensed consolidated financial statements for the period ended June 30, 2023 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, 2022. 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 2023 and 2022 ended on June 30, 2023, and July 1, 2022, respectively.

Accounting Changes and Error Co

Accounting Changes and Error Corrections	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
Change in Accounting Estimate	ACCOUNTING CHANGES Revision of Previously Issued Consolidated Financial Statements During the three-month fiscal period ended June 30, 2023, the Company identified errors related to (1) the accounting for certain labor costs at one business in the Precision Products segment and (2) the net realizable value on certain portions of the Company's inventory at another business in the Structures segment, each resulting in an overstatement of inventory and an understatement of cost of sales and related tax impacts. The Company concluded that these errors were not material, either individually or in aggregate, to previously issued consolidated financial statements; however, the Company has determined it was appropriate to revise its previously issued consolidated financial statements as of December 31, 2022, and for the years ended December 31, 2022 and 2021 and its unaudited condensed consolidated financial statements as of and for the quarters and year-to-date fiscal periods ended July 1, 2022, September 30, 2022 and March 31, 2023. Accordingly, the accompanying financial statements and relevant footnotes to the condensed consolidated financial statements in this Quarterly Report on Form 10-Q have been revised to correct for these errors. The Company will present the revision of its previously issued consolidated financial statements for the years ended December 31, 2022 and 2021 in connection with the future filing of its Annual Report on Form 10-K for the year ended December 31, 2023. Additionally, the Company will present the revision of its previously issued unaudited condensed consolidated financial statements for the quarter and year-to-date fiscal periods ended September 30, 2022 and March 31, 2023 with the future filings of its Quarterly Report on Form 10-Q. The revision to the accompanying unaudited condensed consolidated balance sheet, condensed consolidated statements of operations, condensed consolidated statements of comprehensive income and condensed consolidated statement of cash flows are as follows. There were no changes to the consolidated statement of stockholders' equity that have not otherwise been reflected in the condensed consolidated balance sheets, condensed consolidated statements of operations, and condensed consolidated statements of comprehensive income as detailed in the tables below. Condensed Consolidated Balance Sheet In thousands December 31, 2022 As Previously Reported Adjustments As Corrected Assets Inventories (1) $ 176,468 $ (4,085) $ 172,383 Income tax refunds receivable 13,981 862 14,843 Total $ 190,449 $ (3,223) $ 187,226 Shareholders' equity Retained earnings $ 688,457 $ (3,223) $ 685,234 (1) At December 31, 2022, the adjustments to inventories consisted of an adjustment of $2.5 million for certain labor costs at a business within the Precision Products segment and an adjustment of $1.6 million for the net realizable value on certain portions of the inventory at a business within the Structures segment. 2. ACCOUNTING CHANGES (CONTINUED) Revision of Previously Issued Consolidated Financial Statements - continued Condensed Consolidated Statements of Operations In thousands, except per share amounts For the Three Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Cost of sales $ 108,659 $ 368 $ 109,027 Income tax expense 557 (78) 479 Net earnings 4,064 (290) 3,774 Basic earnings per share $ 0.15 $ (0.02) $ 0.13 Diluted earnings per share $ 0.14 $ (0.01) $ 0.13 For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Cost of sales $ 216,120 $ 562 $ 216,682 Income tax expense 1,864 (119) 1,745 Net earnings 8,092 (443) 7,649 Basic earnings per share $ 0.29 $ (0.02) $ 0.27 Diluted earnings per share $ 0.29 $ (0.02) $ 0.27 Condensed Consolidated Statements of Comprehensive Income (Loss) In thousands For the Three Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Comprehensive (loss) income $ (5,297) $ (290) $ (5,587) For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Comprehensive (loss) income $ (5,725) $ (443) $ (6,168) Condensed Consolidated Statement of Cash Flows In thousands For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Net earnings $ 8,092 $ (443) $ 7,649 Inventories (24,411) 562 (23,849) Income tax refunds receivable (2,365) (119) (2,484) Net cash used in operating activities (26,954) — (26,954)

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2023
Acquisitions [Abstract]
Business Combination Disclosure	. BUSINESS COMBINATIONS AND INVESTMENTS Aircraft Wheel & Brake On September 16, 2022, the Company acquired all of the assets and related liabilities of Parker-Hannifin Corporation's ("Parker") Aircraft Wheel and Brake division, of Avon, Ohio, at a purchase price of $442.8 million. Aircraft Wheel and Brake is a leader in the design, development, qualification, manufacturing and assembly, product support and repair of wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft. With this acquisition, the Company has expanded its portfolio of engineered products, broadening the number of offerings available to serve customers across a range of critical applications and has increased the Company's exposure within the aerospace and defense end markets. This acquisition was accounted for under the acquisition method. The assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition as follows (in thousands): Accounts receivable $ 7,635 Contract assets 171 Inventories 11,246 Property, plant and equipment 7,686 Goodwill 171,277 Other intangible assets (1) 250,500 Contract costs, noncurrent 41 Liabilities (5,729) Net assets acquired 442,827 Less cash received — Net consideration $ 442,827 (1) Refer to Note 3, Business Combinations and Investments , in the Annual Report on Form 10-K for the year ended December 31, 2022 for information on the Company's determination of the fair value of identifiable assets. During the first quarter of 2023, the Company paid Parker an additional $1.5 million for the working capital adjustment, which resulted in an increase to goodwill. All purchase price allocations were finalized within the one-year measurement period and no further adjustments are expected. The goodwill associated with this acquisition is tax deductible and is the result of expected synergies from combining the operations of the acquired business with the Company's operations and intangible assets that do not qualify for separate recognition, such as an assembled workforce. The goodwill associated with this acquisition was recognized in the Engineered Products segment. Aircraft Wheel and Brake's results of operations have been included in the Company's financial statements for the period subsequent to the completion of the acquisition on September 16, 2022. In the three-month and six-month fiscal periods ended June 30, 2023, Aircraft Wheel and Brake contributed $21.2 million and $39.7 million of revenue, respectively, and $3.1 million and $3.9 million of operating income, respectively.

Segment and Geographic Informat

Segment and Geographic Information (Notes)	6 Months Ended
	Jun. 30, 2023
Revenue [Abstract]
Segment Reporting Disclosure	. 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 Chief Operating Decision Maker ("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; proprietary spring energized seals, springs and contacts; and wheels, brakes and related hydraulic components for helicopters and fixed-wing and unmanned aerial vehicle ("UAV") aircraft. 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; support of the heavy lift K-MAX® manned helicopter; and development of 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 June 30, July 1, June 30, July 1, In thousands Net sales: Engineered Products $ 133,513 $ 89,765 $ 256,839 $ 171,217 Precision Products 28,059 41,267 66,030 88,816 Structures 33,586 29,734 66,831 58,781 Net sales $ 195,158 $ 160,766 $ 389,700 $ 318,814 Operating income (loss): Engineered Products $ 30,542 $ 15,467 $ 49,898 $ 26,509 Precision Products (1,884) 2,214 (755) 5,429 Structures (106) (862) (749) (1,479) Corporate expense (9,665) (11,984) (19,671) (22,532) Other unallocated expenses, net (1) (1,317) (2,923) (3,476) (3,152) Operating income $ 17,570 $ 1,912 $ 25,247 $ 4,775 Interest expense, net 10,340 1,993 19,944 4,474 Non-service pension and post retirement benefit income, net (239) (5,024) (620) (10,287) Other expense (income), net 99 690 (472) 1,194 Earnings before income taxes $ 7,370 $ 4,253 $ 6,395 $ 9,394 (1) Other unallocated expenses, net include program inventory impairment, restructuring and severance costs and net loss (gain) on disposition of assets. 4. REVENUE AND SEGMENT INFORMATION (CONTINUED) Disaggregation of Revenue The following tables disaggregate segment revenue by major product line: For the Three Months Ended June 30, 2023 Engineered Products Precision Products Structures Total In thousands Defense $ 18,480 $ 7,375 $ 19,332 $ 45,187 Safe and Arm Devices — 10,354 — 10,354 Commercial, Business & General Aviation 69,236 9,076 12,354 90,666 Medical 25,523 — 1,900 27,423 Industrial & Other 20,274 1,254 — 21,528 Total revenue $ 133,513 $ 28,059 $ 33,586 $ 195,158 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 Six Months Ended June 30, 2023 Engineered Products Precision Products Structures Total In thousands Defense $ 38,503 $ 12,961 $ 38,137 $ 89,601 Safe and Arm Devices — 36,596 — 36,596 Commercial, Business & General Aviation 128,921 14,089 24,858 167,868 Medical 50,458 — 3,836 54,294 Industrial & Other 38,957 2,384 — 41,341 Total revenue $ 256,839 $ 66,030 $ 66,831 $ 389,700 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 4. 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 June 30, 2023 July 1, 2022 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 47 % 6 % 17 % 70 % 43 % 6 % 18 % 67 % Aftermarket 21 % 4 % — % 25 % 13 % 7 % — % 20 % Safe and Arm Devices — % 5 % — % 5 % — % 13 % — % 13 % Total revenue 68 % 15 % 17 % 100 % 56 % 26 % 18 % 100 % For the Six Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 46 % 4 % 17 % 67 % 42 % 5 % 18 % 65 % Aftermarket 20 % 4 % — % 24 % 12 % 5 % — % 17 % Safe and Arm Devices — % 9 % — % 9 % — % 18 % — % 18 % Total revenue 66 % 17 % 17 % 100 % 54 % 28 % 18 % 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 June 30, July 1, June 30, July 1, In thousands Engineered Products $ 2,679 $ 2,121 $ 5,118 $ 4,364 Precision Products 2,463 2,984 5,921 5,787 Structures 51 110 61 177 Total research and development costs $ 5,193 $ 5,215 $ 11,100 $ 10,328 4. 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 June 30, July 1, June 30, July 1, In thousands Net (decrease) increase in revenue due to change in profit estimates $ (1,595) $ 567 $ (2,864) $ 1,472 In the three-month and six-month fiscal periods ended June 30, 2023, the net decreases in revenue were primarily related to cost growth on certain structures and precision products contracts, partially offset by favorable cost performance on the joint programmable fuze ("JPF") contract with the U.S. Government ("USG"). 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 JPF contract with the USG, partially offset by cost growth on certain structures programs and legacy fuzing contracts. 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 June 30, 2023 and December 31, 2022, and the portion of backlog the Company expects to recognize revenue on over the next twelve months is as follows: June 30, 2023 (1) December 31, 2022 (in thousands) Engineered Products $ 366,426 $ 322,452 Precision Products 101,941 134,903 Structures 230,440 263,581 Total Backlog $ 698,807 $ 720,936 (1) The Company expects to recognize revenue on approximately 74% of backlog as of June 30, 2023 over the next twelve months.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jun. 30, 2023
Restructuring Costs [Abstract]
Restructuring Costs	. RESTRUCTURING AND SEVERANCE COSTS Restructuring and severance costs are included in restructuring and severance costs on the Company's Condensed Consolidated Statements of Operations and other unallocated expenses, net within in Note 4, Revenue and Segment Information. Transformation Restructuring In December 2022, the Company began a review of all businesses and programs to increase efficiencies, improve working capital management and focus on sustainable and consistent revenue and profit generating activities. As a result of this review, the Company identified areas to reduce annualized costs in the Precision Products segment and at Corporate through streamlining processes, consolidating the production of fuzes for the JPF program at its Middletown facility, discontinuing K-MAX® helicopter production and right-sizing the Company's total cost structure. In the three-month and six-month fiscal periods ended June 30, 2023, the Company incurred $0.3 million and $2.5 million, respectively, in severance costs associated with these actions. Of this amount, $0.3 million was related to share-based compensation expense in the six-month fiscal period ended June 30, 2023. No share-based compensation expense was recorded to restructuring and severance costs in the three-month fiscal period ended June 30, 2023. The following table summarizes the accrual balances by cost type for the restructuring actions: Severance Other (1) Total In thousands Restructuring accrual balance at December 31, 2022 (2) $ 6,629 $ — $ 6,629 Provision 1,292 538 1,830 Cash payments (5,163) (538) (5,701) Changes in foreign currency exchange rates 31 — 31 Restructuring accrual balance at June 30, 2023 $ 2,789 $ — $ 2,789 (1) Includes costs associated with the consolidation of facilities. (2) Of the above accrual balance, $1.0 million was included in other long-term liabilities on the Company's Condensed Consolidated Balance Sheets as of December 31, 2022. The remainder was included in other current liabilities. Other Matters The Company 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, respectively. In addition to the restructuring and severance costs discussed above, in both the three-month and six-month fiscal periods ended July 1, 2022, the Company incurred $1.0 million in other severance expense.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Net	ACCOUNTS RECEIVABLE, NET Accounts receivable, net consisted of the following: June 30, December 31, In thousands Trade receivables $ 48,289 $ 31,126 U.S. Government contracts: Billed 12,091 14,150 Cost and accrued profit - not billed 2,021 661 Commercial and other government contracts Billed 42,101 41,520 Cost and accrued profit - not billed — 2,268 Less allowance for doubtful accounts (2,772) (2,066) Accounts receivable, net $ 101,730 $ 87,659 6. ACCOUNTS RECEIVABLE, NET (CONTINUED) 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 June 30, 2023: In thousands Balance at December 31, 2022 $ (2,066) Provision (1,125) Amounts written off 206 Recoveries 214 Changes in foreign currency exchange rates (1) Balance at June 30, 2023 $ (2,772) There were no amounts included in accounts receivable, net for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs at June 30, 2023 and December 31, 2022.

Contract Assets, Contract Costs

Contract Assets, Contract Costs and Contract Liabilities	6 Months Ended
	Jun. 30, 2023
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: June 30, December 31, 2022 $ Change % Change In thousands Contract assets $ 106,381 $ 113,182 $ (6,801) (6.0) % Contract costs, current portion (1) $ 481 $ 695 $ (214) (30.8) % Contract costs, noncurrent portion (2) $ 643 $ 673 $ (30) (4.5) % Contract liabilities, current portion $ 7,826 $ 4,081 $ 3,745 91.8 % Contract liabilities, noncurrent portion $ 19,624 $ 20,515 $ (891) (4.3) % (1) Contract costs, current portion are included within other current assets on the Company's Condensed Consolidated Balance Sheets. (2) Contract costs, noncurrent portion are included within other assets on the Company's Condensed Consolidated Balance Sheets. Contract Assets The decrease in contract assets was primarily due to amounts billed in the current period on the JPF program and higher unliquidated progress payments on our legacy fuzing contracts, partially offset by the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations for work performed and not yet billed on certain legacy fuzing contracts, the SH-2G program and a KARGO contract. There were no significant impairment losses related to the Company's contract assets during the three-month and six-month fiscal periods ended June 30, 2023 and July 1, 2022. There were no amounts included in contract assets for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs at June 30, 2023 and December 31, 2022. 7. CONTRACT ASSETS, CONTRACT COSTS AND CONTRACT LIABILITIES (CONTINUED) Contract Costs At June 30, 2023 and December 31, 2022, costs to fulfill a contract were $1.1 million and $1.4 million, respectively. These amounts were included in other current assets and other assets on the Company's Condensed Consolidated Balance Sheets at June 30, 2023 and December 31, 2022. There were no costs to obtain a contract at June 30, 2023 and December 31, 2022. Contract costs, current portion at June 30, 2023 decreased compared to the balance at December 31, 2022. This was primarily attributable to the amortization of contract costs. For the three-month and six-month fiscal periods ended June 30, 2023, amortization of contract costs was $0.1 million and $0.2 million, respectively. 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. Contract costs, noncurrent portion at June 30, 2023 remained relatively flat when compared to the balance at December 31, 2022. Contract Liabilities Contract liabilities, current portion at June 30, 2023 increased compared to the balance at December 31, 2022, primarily driven by the Fireburst TM enhanced fuzing capability program and SH-2G program. Revenue recognized related to contract liabilities, current portion was $0.1 million and $0.6 million in the three-month and six-month fiscal periods ended June 30, 2023, respectively. 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. Contract liabilities, noncurrent portion at June 30, 2023 decreased compared to the balance at December 31, 2022 due to the reclassification of liabilities on the FireBurst TM enhanced fuzing capability program to contract liabilities, current portion. For the three-month and six-month fiscal periods ended June 30, 2023 and July 1, 2022, the Company did not recognize revenue against contract liabilities, noncurrent portion. Refer to Note 14, Commitments and Contingencies , for further information on the Company's offset agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value In thousands Debt (1) $ 583,500 $ 554,813 $ 562,500 $ 547,393 (1) These amounts are classified within Level 2. 8. FAIR VALUE MEASUREMENTS (CONTINUED) 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 June 30, 2023 and December 31, 2022 included $10.1 million and $0.1 million, respectively, of Level 1 money market funds. Recurring Fair Value Measurements The Company holds derivative instruments for foreign exchange contracts and interest rate swaps 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 June 30, 2023, the interest rate swaps were included in other assets and other long-term assets on the Company's Condensed Consolidated Balance Sheets. At June 30, 2023 and December 31, 2022, the foreign exchange contracts 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 June 30, 2023, such credit risks had not had an adverse impact on the fair value of these instruments. Nonrecurring Fair Value Measurements In the three-month and six-month fiscal periods ended June 30, 2023, the Company incurred a $0.6 million impairment charge associated with the write-off of inventory related to the K-MAX® program. Refer to Note 10, Inventories , for further information.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
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. Cash Flow Hedges Interest Rate Swaps The Company's Credit Agreement (as defined in Note 12, Debt ) contains floating rate obligations and is subject to interest rate fluctuations. In late 2022, the Company entered into interest rate swap agreements with a notional value of $200.0 million, effective January 1, 2023, for the purposes of hedging the eight quarterly variable-rate Credit Agreement interest payments due in 2023 and 2024. These interest rate swap agreements were designated as cash flow hedges and intended to manage interest rate risk associated with the Company's variable-rate borrowings and minimize the impact on earnings and cash flows of interest rate fluctuations attributable to changes in the Secured Overnight Financing Rate ("SOFR"). These interest rate swaps were not material to the Company's Condensed Consolidated Financial Statements as of and for the three-month and six-month fiscal periods ended June 30, 2023. Over the next twelve months, the income related to cash flow hedges expected to be reclassified from other comprehensive income is $1.3 million. 9. DERIVATIVE FINANCIAL INSTRUMENTS 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. These contracts were not material to the Company's Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022. 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 June 30, 2023 and July 1, 2022.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following: June 30, December 31, In thousands Raw materials $ 29,820 $ 24,572 Contracts and other work in process (including certain general stock materials) 127,913 107,803 Finished goods 35,052 40,008 Inventories $ 192,785 $ 172,383 There were no amounts included in inventories associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs at June 30, 2023 and December 31, 2022. At June 30, 2023 and December 31, 2022, $22.2 million and $24.7 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 $20.0 million of the K-MAX® inventory will be sold after June 30, 2024, based upon the requirements to support the fleet for the foreseeable future. In December 2022, the Company began a review of all businesses and programs to increase efficiencies, improving working capital management and focus on sustainable and consistent revenue and profit generating activities. As a result, the Company determined it would discontinue K-MAX® aircraft production and wrote off $44.5 million of inventory associated with the program as of December 31, 2022. Additionally, production material for the K-MAX® includes long lead parts, which the Company evaluates for alternative use as received. Any write-offs related to these parts are not expected to have a material adverse effect on the Company's results of operations or financial position. Inventory write-offs for both the three-month and six-month fiscal periods ended June 30, 2023 were $0.6 million. At June 30, 2023 and December 31, 2022, $6.0 million and $6.2 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 $4.8 million of the SH-2G(I) inventory will be sold after June 30, 2024. 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
	Jun. 30, 2023
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, 2022 $ 363,785 $ 41,375 $ 66,559 $ 471,719 Accumulated impairment — (25,306) (66,559) (91,865) Net balance at December 31, 2022 363,785 16,069 — 379,854 Additions 1,487 — — 1,487 Impairments — — — — Foreign currency translation 1,630 — — 1,630 Ending balance at June 30, 2023 $ 366,902 $ 16,069 $ — $ 382,971 Accumulated impairment at end of period $ — $ (25,306) $ (66,559) $ (91,865) Other Intangible Assets Other intangible assets consisted of: At June 30, At December 31, 2023 2022 Amortization Gross Accumulated Gross Accumulated In thousands Customer lists / relationships 6-38 years $ 363,965 $ (48,187) $ 363,549 $ (41,695) Developed technologies 7-20 years 45,183 (19,688) 45,028 (17,508) Trademarks / trade names 15-40 years 16,774 (3,508) 16,681 (3,153) Non-compete agreements and other 1-15 years 17,365 (13,631) 17,336 (7,974) Patents 17 years 551 (491) 551 (484) Total intangible assets $ 443,838 $ (85,505) $ 443,145 $ (70,814)

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt Disclosure	DEBT Credit Agreement On June 21, 2023 (the "Closing Date"), the Company closed an amended and restated $740.0 million Credit Agreement (the "Credit Agreement") with JPMorgan Chase Bank, N.A., as Administrative Agent and as Collateral Agent. The Credit Agreement amends and restates the Company's previously existing credit facility in its entirety to, among other things: (i) extend the maturity date to June 21, 2028; (ii) reduce the aggregate amount of revolving commitments from $800.0 million to $740.0 million; (iii) modify the financial covenants set forth in Article 6 of the previously existing credit facility; and (iv) effectuate certain additional modifications set forth in the previously existing facility, including its pricing. Capitalized terms used but not defined within this discussion of the Credit Agreement have the meanings ascribed thereto in the Credit Agreement, which with amendments is included as Exhibit 10.5 in this Quarterly Report on Form 10-Q. 12. DEBT (CONTINUED) Credit Agreement - continued The financial covenants associated with the Credit Agreement require that (i) the Consolidated Total Net Leverage Ratio, as defined by the Credit Agreement, cannot be greater than 5.00 to 1.00 for any quarter ending on or after the Closing Date through the third quarter of 2023, 4.75 to 1.00 for each quarter ending thereafter through the third quarter of 2024, 4.50 to 1.00 for each quarter ending thereafter through the third quarter of 2025 and 4.00 to 1.00 for each quarter ending thereafter. The Company may elect to increase the Consolidated Total Net Leverage Ratio by 0.50 to 1.00 if the Company consummates a Material Permitted Investment, which shall not exceed 5.00 to 1.00 for each of the four consecutive quarters that included the fiscal quarter in which the Material Permitted Investment is consummated. As of June 30, 2023, the Consolidated Total Net Leverage Ratio was 3.70, as calculated in accordance with the Credit Agreement. In addition to the Consolidated Total Net Leverage Ratio, as defined in the Credit Agreement and discussed above, the financial covenants associated with the Credit Agreement also include a requirement that (i) the Interest Coverage Ratio cannot be less than 3.00 to 1.00; and (ii) Liquidity cannot be less than (a) an amount equal to 50% of the aggregate principal amount of the Convertible Notes as of the last day of the third quarter of 2023 and (b) an amount equal to 100% of the aggregate principal of the 2024 Convertible Notes in the fourth quarter of 2023 and the first quarter of 2024. The Company was in compliance with these financial covenants as of and for the quarter ended June 30, 2023, and management does not anticipate noncompliance in the foreseeable future. Interest rates on amounts outstanding under the Credit Agreement are variable based on the SOFR. The interest rate at June 30, 2023 was 6.80%. We are required to pay a quarterly commitment fee on the unused revolving loan commitment amount at a rate ranging from 0.200% to 0.350% per annum, based on the Senior Secured Net Leverage Ratio. Fees for outstanding letters of credit range from 1.375% to 2.250%, based on the Senior Secured Net Leverage Ratio. At June 30, 2023, $384.0 million was outstanding under the revolving credit facility and total average bank borrowings were $393.8 million during the six-month fiscal period ended June 30, 2023. Total average bank borrowings were $120.7 million during the year ended December 31, 2022. The following table shows the amounts available for borrowing under the Company's revolving credit facility: June 30, December 31, In thousands Total facility $ 740,000 $ 800,000 Amounts outstanding, excluding letters of credit 384,000 363,000 Amounts available for borrowing, excluding letters of credit 356,000 437,000 Letters of credit under the credit facility (1)(2) 52,693 51,630 Amounts available for borrowing $ 303,307 $ 385,370 Amounts available for borrowing subject to EBITDA, as defined by the Credit Agreement (3) $ 151,126 $ 199,106 (1) The Company has entered into standby letters of credit issued on the Company's behalf by financial institutions, and directly issued guarantees to third parties primarily related to advances received from customers and the guarantee of future performance on certain contracts. Letters of credit generally are available for draw down in the event the Company does not perform its obligations. (2) Of these amounts, $47.3 million and $46.1 million in letters of credit relate to a JPF DCS contract in the periods ended June 30, 2023 and December 31, 2022, respectively. (3) The Company's Convertible Notes will mature in 2024. The Company is currently assessing potential options for the refinancing of these instruments prior to their scheduled maturity. With the extension of the Credit Agreement, the Company maintained sufficient capacity to use proceeds from this facility to repay the Convertible Notes. The amounts available for borrowing subject to EBITDA represents amounts available for borrowing after considering the Company's total debt obligations including its Credit Agreement and Convertible Notes. Debt issuance costs in connection with the Credit Agreement have been capitalized. The Company incurred $4.8 million of debt issuance costs in connection with the amendment of the Credit Agreement in 2023, which are being amortized over the term of the agreement with the debt issuance costs associated with the previous existing credit facility for lenders that remained in the Credit Agreement. In the second quarter of 2023, the Company recorded a write-off of debt issuance costs of $0.6 million related to lenders that are no longer participating in the Credit Agreement. Total amortization expense for the three-month fiscal periods ended June 30, 2023 and July 1, 2022 was $0.6 million and $0.3 million, respectively. Total amortization expense for the six-month fiscal periods ended June 30, 2023 and July 1, 2022 was $1.2 million and $0.5 million, respectively.

Pension Plans

Pension Plans	6 Months Ended
	Jun. 30, 2023
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 June 30, July 1, June 30, July 1, In thousands Service cost $ 1,441 $ 882 $ — $ — Interest cost on projected benefit obligation 7,342 4,349 44 22 Expected return on plan assets (9,597) (10,564) — — Amortization of net loss 1,972 1,154 — 15 Net pension cost (income) $ 1,158 $ (4,179) $ 44 $ 37 For the Six Months Ended Qualified Pension Plan SERP June 30, July 1, June 30, July 1, In thousands Service cost $ 2,891 $ 1,682 $ — $ — Interest cost on projected benefit obligation 14,592 8,599 88 44 Expected return on plan assets (19,147) (21,089) — — Amortization of net loss 3,847 2,129 — 30 Net pension cost (income) $ 2,183 $ (8,679) $ 88 $ 74 No contributions have been or are expected to be made to the qualified pension plan during 2023. The Company contributed $0.3 million to the SERP through the end of the second quarter of 2023 and plans to contribute an additional $0.2 million to the SERP in 2023. No contributions were made to the qualified pension plan during 2022. For the 2022 plan year, the Company contributed $0.5 million to the SERP.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES 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 $1.8 million. At June 30, 2023, the Company had $0.5 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. 14. 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 $15.5 million. At June 30, 2023, the Company had $2.2 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. 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 Middle Eastern 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 June 30, 2023, the aggregate amount of the Company's offset agreements had an outstanding notional value of approximately $220.9 million, which is equal to sixty percent of the value of the contracts as defined by the agreement between the customer and the Company. 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. In February 2023, the Company announced that it received a Business Plan Approval Letter to establish a manufacturing and final assembly facility in collaboration with an in-country vendor, which will enhance the technological capabilities available in this country. 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 contracts 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 June 30, 2023, $18.8 million in contract liabilities associated with the potential penalties of the offset requirements were included on the Company's Condensed Consolidated Balance Sheets. Guarantees 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 fulfilled the requirements of Option 16 in the second quarter of 2023 and the USG has indicated that they will not award the Company any future options. The guaranty will remain in effect until the USG has confirmed that the Company has completed all obligations and the Company requests the expiration. The guaranty 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 guaranty 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 guaranty will not have a material adverse effect on the Company's results of operations, financial position and cash flows. 14. COMMITMENTS AND CONTINGENCIES (CONTINUED) Guarantees - continued On September 16, 2022, the Company acquired all of the assets and related liabilities of Parker's Aircraft Wheel and Brake division. In association with the acquisition, the Company entered into a novation agreement in which Parker's contractual obligations with respect to Aircraft Wheel and Brake at the time of the acquisition were transferred to the Company. There can be no assurance that this agreement 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
	Jun. 30, 2023
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 June 30, July 1, June 30, July 1, In thousands, except per share amounts Net earnings $ 5,255 $ 3,774 $ 4,486 $ 7,649 Basic: Weighted average number of shares outstanding 28,203 28,005 28,160 27,977 Basic earnings per share $ 0.19 $ 0.13 $ 0.16 $ 0.27 Diluted: Weighted average number of shares outstanding 28,203 28,005 28,160 27,977 Weighted average shares issuable on exercise of dilutive stock options 152 54 151 94 Total 28,355 28,059 28,311 28,071 Diluted earnings per share $ 0.19 $ 0.13 $ 0.16 $ 0.27 Equity awards For the three-month and six-month fiscal periods ended June 30, 2023, respectively, 635,173 and 666,911 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 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. Convertible Notes For both three-month and six-month fiscal periods ended June 30, 2023 and 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.

Share-based Arrangements

Share-based Arrangements	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-based Payment Arrangement	16. SHARE-BASED ARRANGEMENTS The Company accounts for stock options, restricted stock awards ("RSAs"), restricted stock units ("RSUs") 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, RSUs 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 return on invested capital ("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. The PSUs granted in 2023 and 2022 assumed a 100% achievement level. Share-based compensation expense recorded for the three-month and six-month fiscal periods ended June 30, 2023 was $1.9 million and $3.9 million, respectively. For the six-month fiscal period ended June 30, 2023, $0.3 million was recorded to restructuring and severance costs and the remaining amount was recorded to selling, general and administrative expenses on the Company's Condensed Consolidated Statements of Operations. No share-based compensation expense was recorded to restructuring and severance costs in the three-month fiscal period ended June 30, 2023. 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 amount was 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 June 30, 2023 June 30, 2023 Options Weighted - average Options Weighted - average Options outstanding at beginning of period 686,721 $ 54.51 710,782 $ 54.12 Granted — $ — — $ — Exercised — $ — — $ — Forfeited or expired (70,979) $ 56.22 (95,040) $ 52.89 Options outstanding at June 30, 2023 615,742 $ 54.31 615,742 $ 54.31 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 periods ended June 30, 2023 and July 1, 2022. Restricted stock award and restricted stock unit activity were as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2023 Restricted Stock Weighted- Restricted Stock Weighted- Restricted Stock outstanding at beginning of period 195,267 $ 34.51 159,521 $ 45.78 Granted 38,232 $ 22.76 140,832 $ 24.57 Vested (2,244) $ 34.98 (64,732) $ 46.71 Forfeited or expired (4,059) $ 31.70 (8,425) $ 39.89 Restricted Stock outstanding at June 30, 2023 227,196 $ 32.58 227,196 $ 32.58 16. SHARE-BASED ARRANGEMENTS (CONTINUED) Performance stock unit activity was as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2023 Performance Stock Weighted- Performance Stock Weighted- Performance Stock outstanding at beginning of period 320,184 $ 44.95 172,144 $ 60.44 Granted — $ — 178,385 $ 32.03 Vested — $ — — $ — Forfeited or expired (5,632) $ 42.32 (35,977) $ 54.60 Performance Stock outstanding at June 30, 2023 314,552 $ 45.00 314,552 $ 45.00 The fair value of the PSUs based on total shareholder return ("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 June 30, 2023 July 1, 2022 Expected term (years) 2.9 2.9 Expected volatility 41.2 % 39.4 % Risk-free interest rate 4.4 % 1.7 % Expected dividend yield 3.3 % 1.9 % Per share fair value of performance stock granted $ 38.83 $ 68.10

Shareholders' Equity and Accumu

Shareholders' Equity and Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2023
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 and six-month fiscal periods ended June 30, 2023, and July 1, 2022, were as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 In thousands Beginning balance (1) $ 679,983 $ 785,719 $ 680,756 $ 795,453 Comprehensive income (loss) 9,584 (5,587) 12,443 (6,168) Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively) (5,638) (5,597) (11,265) (11,187) Employee stock plans and related tax benefit 475 481 970 1,266 Purchase of treasury shares — (123) (503) (698) Share-based compensation expense 1,925 2,730 3,928 4,811 Impact of change in accounting standard (2) — — — (5,854) Ending balance $ 686,329 $ 777,623 $ 686,329 $ 777,623 (1) For the three-month and six-month fiscal periods ended July 1, 2022, the Company revised its previously issued financial statements for errors related to (1) the accounting for certain labor costs at one business in the Precision Products segment and (2) the net realizable value on certain portions of the Company's inventory at another business in the Structures segment. The impact of these items on the beginning shareholders' equity and accumulated other comprehensive income balances noted above was approximately $1.0 million and $0.9 million, respectively. Refer to Note 2, Accounting Changes , for further information. (2) At January 1, 2022, the Company adopted Accounting Standard Update 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" ("ASU 2020-06"). Refer to Note 1, Summary of Significant Accounting Policies , of the Company's Annual Report on Form 10-K for the year ended December 31, 2022 for further information on the adoption of ASU 2020-06. 17. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) The components of accumulated other comprehensive income (loss) are shown below: For the Three Months Ended June 30, 2023 July 1, 2022 In thousands Foreign currency translation: Beginning balance $ 467 $ 3,547 Net gain (loss) on foreign currency translation 931 (10,254) Other comprehensive income (loss), net of tax 931 (10,254) Ending balance $ 1,398 $ (6,707) Pension and other post-retirement benefits (1) : Beginning balance $ (154,909) $ (119,395) Amortization of net loss, net of tax expense of $457 and $269, respectively 1,515 900 Other comprehensive income, net of tax 1,515 900 Ending balance $ (153,394) $ (118,495) Derivative instruments (2) : Beginning balance $ (351) $ 7 Gain on derivative instruments, net of tax expense of $632 and $0, respectively 2,098 — Reclassification to net income, net of tax benefit of $(64) and $0, respectively (215) (7) Other comprehensive income (loss), net of tax 1,883 (7) Ending balance $ 1,532 $ — Total accumulated other comprehensive loss $ (150,464) $ (125,202) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 13, Pension Plans, for additional information.) (2) See Note 9, Derivative Financial Instruments , for additional information regarding derivative instruments. 17. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) For the Six Months Ended June 30, 2023 July 1, 2022 In thousands Foreign currency translation: Beginning balance $ (2,071) $ 8,765 Net gain (loss) on foreign currency translation 3,469 (15,472) Other comprehensive income (loss), net of tax 3,469 (15,472) Ending balance $ 1,398 $ (6,707) Pension and other post-retirement benefits (1) : Beginning balance $ (156,350) $ (120,157) Amortization of net loss, net of tax expense of $891 and $497, respectively 2,956 1,662 Other comprehensive income, net of tax 2,956 1,662 Ending balance $ (153,394) $ (118,495) Derivative instruments (2) : Beginning balance $ — $ 7 Gain on derivative instruments, net of tax expense of $554 and $0, respectively 1,838 — Reclassification to net income, net of tax benefit of $(92) and $0, respectively (306) (7) Other comprehensive income (loss), net of tax 1,532 (7) Ending balance $ 1,532 $ — Total accumulated other comprehensive loss $ (150,464) $ (125,202) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 13, Pension Plans, for additional information.) (2) See Note 9, Derivative Financial Instruments , for additional information regarding derivative instruments.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the Three Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 Effective Income Tax Rate 28.7 % 11.3 % 29.9 % 18.6 % The effective income tax rate represents the combined federal, state and foreign tax effects attributable to pretax earnings for the period. The increase in the effective tax rate for the three-month and six-month fiscal periods ended June 30, 2023 as compared to the corresponding rates in the prior year periods was primarily driven by a charge to record additional valuation allowances relating to the Company’s state tax loss carryforwards. This charge was partially offset by a benefit relating to the reversal of uncertain tax positions.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSThe Company has evaluated subsequent events through the issuance date of these financial statements. No material subsequent events were identified that require disclosure.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Pay vs Performance Disclosure
Net earnings	$ 5,255	$ 3,774	$ 4,486	$ 7,649

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Basis of Presentation [Abstract]
Consolidation, Policy [Policy Text Block]	BASIS OF PRESENTATION 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 condensed consolidated financial statements for the period ended June 30, 2023 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, 2022. 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 2023 and 2022 ended on June 30, 2023, and July 1, 2022, respectively.

Accounting Changes and Error _2

Accounting Changes and Error Corrections (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Changes and Error Corrections [Abstract]
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 June 30, July 1, June 30, July 1, In thousands Net (decrease) increase in revenue due to change in profit estimates $ (1,595) $ 567 $ (2,864) $ 1,472
Schedule of Changes in Accounting Estimates - Revision	The revision to the accompanying unaudited condensed consolidated balance sheet, condensed consolidated statements of operations, condensed consolidated statements of comprehensive income and condensed consolidated statement of cash flows are as follows. There were no changes to the consolidated statement of stockholders' equity that have not otherwise been reflected in the condensed consolidated balance sheets, condensed consolidated statements of operations, and condensed consolidated statements of comprehensive income as detailed in the tables below. Condensed Consolidated Balance Sheet In thousands December 31, 2022 As Previously Reported Adjustments As Corrected Assets Inventories (1) $ 176,468 $ (4,085) $ 172,383 Income tax refunds receivable 13,981 862 14,843 Total $ 190,449 $ (3,223) $ 187,226 Shareholders' equity Retained earnings $ 688,457 $ (3,223) $ 685,234 (1) At December 31, 2022, the adjustments to inventories consisted of an adjustment of $2.5 million for certain labor costs at a business within the Precision Products segment and an adjustment of $1.6 million for the net realizable value on certain portions of the inventory at a business within the Structures segment. 2. ACCOUNTING CHANGES (CONTINUED) Revision of Previously Issued Consolidated Financial Statements - continued Condensed Consolidated Statements of Operations In thousands, except per share amounts For the Three Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Cost of sales $ 108,659 $ 368 $ 109,027 Income tax expense 557 (78) 479 Net earnings 4,064 (290) 3,774 Basic earnings per share $ 0.15 $ (0.02) $ 0.13 Diluted earnings per share $ 0.14 $ (0.01) $ 0.13 For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Cost of sales $ 216,120 $ 562 $ 216,682 Income tax expense 1,864 (119) 1,745 Net earnings 8,092 (443) 7,649 Basic earnings per share $ 0.29 $ (0.02) $ 0.27 Diluted earnings per share $ 0.29 $ (0.02) $ 0.27 Condensed Consolidated Statements of Comprehensive Income (Loss) In thousands For the Three Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Comprehensive (loss) income $ (5,297) $ (290) $ (5,587) For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Comprehensive (loss) income $ (5,725) $ (443) $ (6,168) Condensed Consolidated Statement of Cash Flows In thousands For the Six Months Ended July 1, 2022 As Previously Reported Adjustments As Corrected Net earnings $ 8,092 $ (443) $ 7,649 Inventories (24,411) 562 (23,849) Income tax refunds receivable (2,365) (119) (2,484) Net cash used in operating activities (26,954) — (26,954)

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2023
Acquisitions [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	This acquisition was accounted for under the acquisition method. The assets acquired and liabilities assumed were recorded based on their fair values at the date of acquisition as follows (in thousands): Accounts receivable $ 7,635 Contract assets 171 Inventories 11,246 Property, plant and equipment 7,686 Goodwill 171,277 Other intangible assets (1) 250,500 Contract costs, noncurrent 41 Liabilities (5,729) Net assets acquired 442,827 Less cash received — Net consideration $ 442,827

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, July 1, June 30, July 1, In thousands Net sales: Engineered Products $ 133,513 $ 89,765 $ 256,839 $ 171,217 Precision Products 28,059 41,267 66,030 88,816 Structures 33,586 29,734 66,831 58,781 Net sales $ 195,158 $ 160,766 $ 389,700 $ 318,814 Operating income (loss): Engineered Products $ 30,542 $ 15,467 $ 49,898 $ 26,509 Precision Products (1,884) 2,214 (755) 5,429 Structures (106) (862) (749) (1,479) Corporate expense (9,665) (11,984) (19,671) (22,532) Other unallocated expenses, net (1) (1,317) (2,923) (3,476) (3,152) Operating income $ 17,570 $ 1,912 $ 25,247 $ 4,775 Interest expense, net 10,340 1,993 19,944 4,474 Non-service pension and post retirement benefit income, net (239) (5,024) (620) (10,287) Other expense (income), net 99 690 (472) 1,194 Earnings before income taxes $ 7,370 $ 4,253 $ 6,395 $ 9,394 (1) Other unallocated expenses, net include program inventory impairment, restructuring and severance costs and net loss (gain) on disposition 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 June 30, 2023 Engineered Products Precision Products Structures Total In thousands Defense $ 18,480 $ 7,375 $ 19,332 $ 45,187 Safe and Arm Devices — 10,354 — 10,354 Commercial, Business & General Aviation 69,236 9,076 12,354 90,666 Medical 25,523 — 1,900 27,423 Industrial & Other 20,274 1,254 — 21,528 Total revenue $ 133,513 $ 28,059 $ 33,586 $ 195,158 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 Six Months Ended June 30, 2023 Engineered Products Precision Products Structures Total In thousands Defense $ 38,503 $ 12,961 $ 38,137 $ 89,601 Safe and Arm Devices — 36,596 — 36,596 Commercial, Business & General Aviation 128,921 14,089 24,858 167,868 Medical 50,458 — 3,836 54,294 Industrial & Other 38,957 2,384 — 41,341 Total revenue $ 256,839 $ 66,030 $ 66,831 $ 389,700 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 4. 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 June 30, 2023 July 1, 2022 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 47 % 6 % 17 % 70 % 43 % 6 % 18 % 67 % Aftermarket 21 % 4 % — % 25 % 13 % 7 % — % 20 % Safe and Arm Devices — % 5 % — % 5 % — % 13 % — % 13 % Total revenue 68 % 15 % 17 % 100 % 56 % 26 % 18 % 100 % For the Six Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 Engineered Products Precision Products Structures Total Engineered Products Precision Products Structures Total Original Equipment Manufacturer 46 % 4 % 17 % 67 % 42 % 5 % 18 % 65 % Aftermarket 20 % 4 % — % 24 % 12 % 5 % — % 17 % Safe and Arm Devices — % 9 % — % 9 % — % 18 % — % 18 % Total revenue 66 % 17 % 17 % 100 % 54 % 28 % 18 % 100 %
Research and Development	The following table presents research and development costs by segment: For the Three Months Ended For the Six Months Ended June 30, July 1, June 30, July 1, In thousands Engineered Products $ 2,679 $ 2,121 $ 5,118 $ 4,364 Precision Products 2,463 2,984 5,921 5,787 Structures 51 110 61 177 Total research and development costs $ 5,193 $ 5,215 $ 11,100 $ 10,328
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 June 30, July 1, June 30, July 1, In thousands Net (decrease) increase in revenue due to change in profit estimates $ (1,595) $ 567 $ (2,864) $ 1,472
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Backlog at June 30, 2023 and December 31, 2022, and the portion of backlog the Company expects to recognize revenue on over the next twelve months is as follows: June 30, 2023 (1) December 31, 2022 (in thousands) Engineered Products $ 366,426 $ 322,452 Precision Products 101,941 134,903 Structures 230,440 263,581 Total Backlog $ 698,807 $ 720,936 (1) The Company expects to recognize revenue on approximately 74% of backlog as of June 30, 2023 over the next twelve months.	[1]
[1]The Company expects to recognize revenue on approximately 74% of backlog as of June 30, 2023 over the next twelve months.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring Costs [Abstract]
Restructuring and Related Costs	The following table summarizes the accrual balances by cost type for the restructuring actions: Severance Other (1) Total In thousands Restructuring accrual balance at December 31, 2022 (2) $ 6,629 $ — $ 6,629 Provision 1,292 538 1,830 Cash payments (5,163) (538) (5,701) Changes in foreign currency exchange rates 31 — 31 Restructuring accrual balance at June 30, 2023 $ 2,789 $ — $ 2,789

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net consisted of the following: June 30, December 31, In thousands Trade receivables $ 48,289 $ 31,126 U.S. Government contracts: Billed 12,091 14,150 Cost and accrued profit - not billed 2,021 661 Commercial and other government contracts Billed 42,101 41,520 Cost and accrued profit - not billed — 2,268 Less allowance for doubtful accounts (2,772) (2,066) Accounts receivable, net $ 101,730 $ 87,659
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 June 30, 2023: In thousands Balance at December 31, 2022 $ (2,066) Provision (1,125) Amounts written off 206 Recoveries 214 Changes in foreign currency exchange rates (1) Balance at June 30, 2023 $ (2,772)
Accounts Receivable Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Cost	There were no amounts included in accounts receivable, net for matters such as contract changes, negotiated settlements and claims for unanticipated contract costs at June 30, 2023 and December 31, 2022.

Contract Assets, Contract Cos_2

Contract Assets, Contract Costs and Contract Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, December 31, 2022 $ Change % Change In thousands Contract assets $ 106,381 $ 113,182 $ (6,801) (6.0) % Contract costs, current portion (1) $ 481 $ 695 $ (214) (30.8) % Contract costs, noncurrent portion (2) $ 643 $ 673 $ (30) (4.5) % Contract liabilities, current portion $ 7,826 $ 4,081 $ 3,745 91.8 % Contract liabilities, noncurrent portion $ 19,624 $ 20,515 $ (891) (4.3) %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value In thousands Debt (1) $ 583,500 $ 554,813 $ 562,500 $ 547,393 (1) These amounts are classified within Level 2.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: June 30, December 31, In thousands Raw materials $ 29,820 $ 24,572 Contracts and other work in process (including certain general stock materials) 127,913 107,803 Finished goods 35,052 40,008 Inventories $ 192,785 $ 172,383
Inventory Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Contract Costs	There were no amounts included in inventories associated with matters such as contract changes, negotiated settlements and claims for unanticipated contract costs at June 30, 2023 and December 31, 2022.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 363,785 $ 41,375 $ 66,559 $ 471,719 Accumulated impairment — (25,306) (66,559) (91,865) Net balance at December 31, 2022 363,785 16,069 — 379,854 Additions 1,487 — — 1,487 Impairments — — — — Foreign currency translation 1,630 — — 1,630 Ending balance at June 30, 2023 $ 366,902 $ 16,069 $ — $ 382,971 Accumulated impairment at end of period $ — $ (25,306) $ (66,559) $ (91,865)
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	Other intangible assets consisted of: At June 30, At December 31, 2023 2022 Amortization Gross Accumulated Gross Accumulated In thousands Customer lists / relationships 6-38 years $ 363,965 $ (48,187) $ 363,549 $ (41,695) Developed technologies 7-20 years 45,183 (19,688) 45,028 (17,508) Trademarks / trade names 15-40 years 16,774 (3,508) 16,681 (3,153) Non-compete agreements and other 1-15 years 17,365 (13,631) 17,336 (7,974) Patents 17 years 551 (491) 551 (484) Total intangible assets $ 443,838 $ (85,505) $ 443,145 $ (70,814)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following table shows the amounts available for borrowing under the Company's revolving credit facility: June 30, December 31, In thousands Total facility $ 740,000 $ 800,000 Amounts outstanding, excluding letters of credit 384,000 363,000 Amounts available for borrowing, excluding letters of credit 356,000 437,000 Letters of credit under the credit facility (1)(2) 52,693 51,630 Amounts available for borrowing $ 303,307 $ 385,370 Amounts available for borrowing subject to EBITDA, as defined by the Credit Agreement (3) $ 151,126 $ 199,106

Pension Plans (Tables)

Pension Plans (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, July 1, June 30, July 1, In thousands Service cost $ 1,441 $ 882 $ — $ — Interest cost on projected benefit obligation 7,342 4,349 44 22 Expected return on plan assets (9,597) (10,564) — — Amortization of net loss 1,972 1,154 — 15 Net pension cost (income) $ 1,158 $ (4,179) $ 44 $ 37 For the Six Months Ended Qualified Pension Plan SERP June 30, July 1, June 30, July 1, In thousands Service cost $ 2,891 $ 1,682 $ — $ — Interest cost on projected benefit obligation 14,592 8,599 88 44 Expected return on plan assets (19,147) (21,089) — — Amortization of net loss 3,847 2,129 — 30 Net pension cost (income) $ 2,183 $ (8,679) $ 88 $ 74

Computation of Earnings Per S_2

Computation of Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share Reconciliation [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months Ended For the Six Months Ended June 30, July 1, June 30, July 1, In thousands, except per share amounts Net earnings $ 5,255 $ 3,774 $ 4,486 $ 7,649 Basic: Weighted average number of shares outstanding 28,203 28,005 28,160 27,977 Basic earnings per share $ 0.19 $ 0.13 $ 0.16 $ 0.27 Diluted: Weighted average number of shares outstanding 28,203 28,005 28,160 27,977 Weighted average shares issuable on exercise of dilutive stock options 152 54 151 94 Total 28,355 28,059 28,311 28,071 Diluted earnings per share $ 0.19 $ 0.13 $ 0.16 $ 0.27

Share-based Arrangements (Table

Share-based Arrangements (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 June 30, 2023 Options Weighted - average Options Weighted - average Options outstanding at beginning of period 686,721 $ 54.51 710,782 $ 54.12 Granted — $ — — $ — Exercised — $ — — $ — Forfeited or expired (70,979) $ 56.22 (95,040) $ 52.89 Options outstanding at June 30, 2023 615,742 $ 54.31 615,742 $ 54.31
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 periods ended June 30, 2023 and July 1, 2022.
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 June 30, 2023 June 30, 2023 Restricted Stock Weighted- Restricted Stock Weighted- Restricted Stock outstanding at beginning of period 195,267 $ 34.51 159,521 $ 45.78 Granted 38,232 $ 22.76 140,832 $ 24.57 Vested (2,244) $ 34.98 (64,732) $ 46.71 Forfeited or expired (4,059) $ 31.70 (8,425) $ 39.89 Restricted Stock outstanding at June 30, 2023 227,196 $ 32.58 227,196 $ 32.58
Share-based Payment Arrangement, Performance Shares, Activity	Performance stock unit activity was as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 June 30, 2023 Performance Stock Weighted- Performance Stock Weighted- Performance Stock outstanding at beginning of period 320,184 $ 44.95 172,144 $ 60.44 Granted — $ — 178,385 $ 32.03 Vested — $ — — $ — Forfeited or expired (5,632) $ 42.32 (35,977) $ 54.60 Performance Stock outstanding at June 30, 2023 314,552 $ 45.00 314,552 $ 45.00
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 June 30, 2023 July 1, 2022 Expected term (years) 2.9 2.9 Expected volatility 41.2 % 39.4 % Risk-free interest rate 4.4 % 1.7 % Expected dividend yield 3.3 % 1.9 % Per share fair value of performance stock granted $ 38.83 $ 68.10

Shareholders' Equity and Accu_2

Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Changes in shareholders’ equity for the three-month and six-month fiscal periods ended June 30, 2023, and July 1, 2022, were as follows: For the Three Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 In thousands Beginning balance (1) $ 679,983 $ 785,719 $ 680,756 $ 795,453 Comprehensive income (loss) 9,584 (5,587) 12,443 (6,168) Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively) (5,638) (5,597) (11,265) (11,187) Employee stock plans and related tax benefit 475 481 970 1,266 Purchase of treasury shares — (123) (503) (698) Share-based compensation expense 1,925 2,730 3,928 4,811 Impact of change in accounting standard (2) — — — (5,854) Ending balance $ 686,329 $ 777,623 $ 686,329 $ 777,623
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) are shown below: For the Three Months Ended June 30, 2023 July 1, 2022 In thousands Foreign currency translation: Beginning balance $ 467 $ 3,547 Net gain (loss) on foreign currency translation 931 (10,254) Other comprehensive income (loss), net of tax 931 (10,254) Ending balance $ 1,398 $ (6,707) Pension and other post-retirement benefits (1) : Beginning balance $ (154,909) $ (119,395) Amortization of net loss, net of tax expense of $457 and $269, respectively 1,515 900 Other comprehensive income, net of tax 1,515 900 Ending balance $ (153,394) $ (118,495) Derivative instruments (2) : Beginning balance $ (351) $ 7 Gain on derivative instruments, net of tax expense of $632 and $0, respectively 2,098 — Reclassification to net income, net of tax benefit of $(64) and $0, respectively (215) (7) Other comprehensive income (loss), net of tax 1,883 (7) Ending balance $ 1,532 $ — Total accumulated other comprehensive loss $ (150,464) $ (125,202) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 13, Pension Plans, for additional information.) (2) See Note 9, Derivative Financial Instruments , for additional information regarding derivative instruments. 17. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) For the Six Months Ended June 30, 2023 July 1, 2022 In thousands Foreign currency translation: Beginning balance $ (2,071) $ 8,765 Net gain (loss) on foreign currency translation 3,469 (15,472) Other comprehensive income (loss), net of tax 3,469 (15,472) Ending balance $ 1,398 $ (6,707) Pension and other post-retirement benefits (1) : Beginning balance $ (156,350) $ (120,157) Amortization of net loss, net of tax expense of $891 and $497, respectively 2,956 1,662 Other comprehensive income, net of tax 2,956 1,662 Ending balance $ (153,394) $ (118,495) Derivative instruments (2) : Beginning balance $ — $ 7 Gain on derivative instruments, net of tax expense of $554 and $0, respectively 1,838 — Reclassification to net income, net of tax benefit of $(92) and $0, respectively (306) (7) Other comprehensive income (loss), net of tax 1,532 (7) Ending balance $ 1,532 $ — Total accumulated other comprehensive loss $ (150,464) $ (125,202) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 13, Pension Plans, for additional information.) (2) See Note 9, Derivative Financial Instruments , for additional information regarding derivative instruments.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rates	For the Three Months Ended For the Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 Effective Income Tax Rate 28.7 % 11.3 % 29.9 % 18.6 %

Accounting Changes and Error _3

Accounting Changes and Error Corrections (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Change in Accounting Estimate [Line Items]
Income tax refunds receivable	$ 4,514		$ 4,514		$ 14,843
Total Revision to Assets					187,226
Retained earnings	678,456		678,456		685,234
Cost of sales	122,320	$ 109,027	250,269	$ 216,682
Income tax expense	2,115	479	1,909	1,745
Net earnings	$ 5,255	$ 3,774	$ 4,486	$ 7,649
Basic earnings per share (in usd per share)	$ 0.19	$ 0.13	$ 0.16	$ 0.27
Diluted earnings per share from continuing operations	$ 0.19	$ 0.13	$ 0.16	$ 0.27
Comprehensive income (loss)	$ 9,584	$ (5,587)	$ 12,443	$ (6,168)
Inventories			(21,094)	(23,849)
Income tax refunds receivable			10,332	(2,484)
Net cash provided by operating activities			18,806	(26,954)
Inventories	$ 192,785		$ 192,785		172,383
Revision of Prior Period, Adjustment
Change in Accounting Estimate [Line Items]
Income tax refunds receivable					862
Total Revision to Assets					(3,223)
Retained earnings					(3,223)
Cost of sales		368		562
Income tax expense		(78)		(119)
Net earnings		$ (290)		$ (443)
Basic earnings per share (in usd per share)		$ (0.02)		$ (0.02)
Diluted earnings per share from continuing operations		$ (0.01)		$ (0.02)
Comprehensive income (loss)		$ (290)		$ (443)
Inventories				562
Income tax refunds receivable				(119)
Net cash provided by operating activities				0
Inventories					(4,085)
Revision of Prior Period, Adjustment | Precision Products
Change in Accounting Estimate [Line Items]
Inventories					2,500
Revision of Prior Period, Adjustment | Structures
Change in Accounting Estimate [Line Items]
Inventories					1,600
Previously Reported
Change in Accounting Estimate [Line Items]
Income tax refunds receivable					13,981
Total Revision to Assets					190,449
Retained earnings					688,457
Cost of sales		108,659		216,120
Income tax expense		557		1,864
Net earnings		$ 4,064		$ 8,092
Basic earnings per share (in usd per share)		$ 0.15		$ 0.29
Diluted earnings per share from continuing operations		$ 0.14		$ 0.29
Comprehensive income (loss)		$ (5,297)		$ (5,725)
Inventories				(24,411)
Income tax refunds receivable				(2,365)
Net cash provided by operating activities				$ (26,954)
Inventories					$ 176,468

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023	Sep. 16, 2022
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill, Purchase Accounting Adjustments		$ 1,500
Parker Aircraft Wheels & Brakes
Acquired Indefinite-lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 442,827
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents				0
Business Combination, Consideration Transferred			$ 442,827
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables				7,635
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contract Assets				171
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				11,246
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				7,686
Business Acquisition, Goodwill, Expected Tax Deductible Amount				171,277
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				250,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities				41
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities				$ (5,729)
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 21,200		39,700
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	$ 3,100		$ 3,900

Segment and Geographic Inform_3

Segment and Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 195,158	$ 160,766	$ 389,700	$ 318,814
Operating Income (Loss)	17,570	1,912	25,247	4,775
Interest expense, net	10,340	1,993	19,944	4,474
Non-service pension and post-retirement benefit income	(239)	(5,024)	(620)	(10,287)
Other expense (income), net	$ 99	$ 690	$ (472)	$ 1,194
Revenue, Net, Percentage	100%	100%	100%	100%
Research and Development Expense	$ 5,193	$ 5,215	$ 11,100	$ 10,328
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	7,370	4,253	6,395	9,394
Program Inventory Impairment	596	0	596	0	$ 44,500
Net earnings	5,255	3,774	4,486	7,649
Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,187	32,069	89,601	63,299
Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 10,354	$ 21,563	$ 36,596	$ 58,885
Revenue, Net, Percentage	5%	13%	9%	18%
Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 90,666	$ 60,858	$ 167,868	$ 107,816
Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	27,423	25,000	54,294	48,128
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 21,528	$ 21,276	$ 41,341	$ 40,686
Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	70%	67%	67%	65%
Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	25%	20%	24%	17%
Engineered Products
Disaggregation of Revenue [Line Items]
Net sales	$ 133,513	$ 89,765	$ 256,839	$ 171,217
Operating Income (Loss)	$ 30,542	$ 15,467	$ 49,898	$ 26,509
Revenue, Net, Percentage	68%	56%	66%	54%
Research and Development Expense	$ 2,679	$ 2,121	$ 5,118	$ 4,364
Engineered Products | Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	18,480	9,342	38,503	18,995
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	$ 69,236	$ 37,644	$ 128,921	$ 70,022
Engineered Products | Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	25,523	22,683	50,458	43,832
Engineered Products | Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 20,274	$ 20,096	$ 38,957	$ 38,368
Engineered Products | Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	47%	43%	46%	42%
Engineered Products | Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	21%	13%	20%	12%
Precision Products
Disaggregation of Revenue [Line Items]
Net sales	$ 28,059	$ 41,267	$ 66,030	$ 88,816
Operating Income (Loss)	$ (1,884)	$ 2,214	$ (755)	$ 5,429
Revenue, Net, Percentage	15%	26%	17%	28%
Research and Development Expense	$ 2,463	$ 2,984	$ 5,921	$ 5,787
Precision Products | Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	7,375	6,629	12,961	11,951
Precision Products | Missile and Bomb Fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 10,354	$ 21,563	$ 36,596	$ 58,885
Revenue, Net, Percentage	5%	13%	9%	18%
Precision Products | Commercial Aerospace [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 9,076	$ 11,895	$ 14,089	$ 15,662
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	$ 1,254	$ 1,180	$ 2,384	$ 2,318
Precision Products | Original Equipment Manufacturer [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	6%	6%	4%	5%
Precision Products | Aftermarket [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percentage	4%	7%	4%	5%
Structures
Disaggregation of Revenue [Line Items]
Net sales	$ 33,586	$ 29,734	$ 66,831	$ 58,781
Operating Income (Loss)	$ (106)	$ (862)	$ (749)	$ (1,479)
Revenue, Net, Percentage	17%	18%	17%	18%
Research and Development Expense	$ 51	$ 110	$ 61	$ 177
Structures | Military and Defense, other than fuzes [Member]
Disaggregation of Revenue [Line Items]
Net sales	19,332	16,098	38,137	32,353
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	$ 12,354	$ 11,319	$ 24,858	$ 22,132
Structures | Medical [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,900	2,317	3,836	4,296
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	17%	18%	17%	18%
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)	$ (9,665)	$ (11,984)	$ (19,671)	$ (22,532)
Other unallocated expenses, net
Disaggregation of Revenue [Line Items]
Operating Income (Loss)	$ (1,317)	$ (2,923)	$ (3,476)	$ (3,152)

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
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Change in Accounting Estimate [Line Items]
Net sales	$ 195,158	$ 160,766	$ 389,700	$ 318,814
Performance obligations satisfied in previous periods [Member]
Change in Accounting Estimate [Line Items]
Reductions in Revenues	$ (1,595)	$ 567	$ (2,864)	$ 1,472

Revenue Unfulfilled Performance

Revenue Unfulfilled Performance Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 698,807	$ 720,936
Revenue, Remaining Performance Obligation, Percentage	74%
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 698,807	720,936
Engineered Products
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	366,426	322,452
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	366,426	322,452
Precision Products
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	101,941	134,903
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	101,941	134,903
Structures
Unfulfilled Performance Obligations [Abstract]
Revenue, Remaining Performance Obligation, Amount	230,440	263,581
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 230,440	$ 263,581

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and severance costs	$ 272	$ 2,927	$ 2,462	$ 3,096
Restructuring accrual, beginning balance					$ 6,629
Increase (Decrease) in Restructuring Reserve			1,830
Restructuring Reserve, Period Increase (Decrease)			(5,701)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)			31
Restructuring accrual, ending balance	2,789		2,789
Share-based compensation expense	1,925	2,730	3,928	4,811
Restructuring accrual, long-term portion	1,000		1,000		1,000
Severance Costs		1,000		1,000
Restructuring and Severance
Restructuring Cost and Reserve [Line Items]
Share-based compensation expense	0	100	300	100
Transformation severance
Restructuring Cost and Reserve [Line Items]
Restructuring and severance costs	300		2,500
Restructuring accrual, beginning balance					6,629
Increase (Decrease) in Restructuring Reserve			1,292
Restructuring Reserve, Period Increase (Decrease)			(5,163)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)			31
Restructuring accrual, ending balance	2,789		2,789
Transformation other
Restructuring Cost and Reserve [Line Items]
Restructuring accrual, beginning balance					$ 0
Increase (Decrease) in Restructuring Reserve			538
Restructuring Reserve, Period Increase (Decrease)			(538)
Restructuring Reserve, Foreign Currency Translation Gain (Loss)			0
Restructuring accrual, ending balance	$ 0		$ 0
G&A Reduction Efforts
Restructuring Cost and Reserve [Line Items]
Severance Costs		$ 1,900		$ 2,100

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less allowance for doubtful accounts	$ (2,772)	$ (2,066)
Accounts receivable, net	101,730	87,659
Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	48,289	31,126
U.S. Government contracts | Billed | Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	12,091	14,150
U.S. Government contracts | Not billed | Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	2,021	661
Commercial and other government contracts | Billed | Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	42,101	41,520
Commercial and other government contracts | Not billed | Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 0	$ 2,268

Accounts Receivable, Net Allowa

Accounts Receivable, Net Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Allowance for Doubtful Accounts [Abstract]
Less allowance for doubtful accounts	$ (2,772)	$ (2,066)
Provision for Other Credit Losses	(1,125)
Accounts Receivable, Allowance for Credit Loss, Writeoff	206
Accounts Receivable, Allowance for Credit Loss, Recovery	214
Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation	$ (1)

Accounts Receivable, Net - Acco

Accounts Receivable, Net - Accounts Receivable due to contract changes, negotiated settlements and claims for unanticipated cost (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Contracts Receivable, Claims and Uncertain Amounts	$ 0	$ 0

Contract Assets, Contract Cos_3

Contract Assets, Contract Costs and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract assets	$ 106,381		$ 106,381		$ 113,182
Contract assets, change			$ (6,801)
Contract assets, change (as percent)			(6.00%)
Capitalized Contract Cost, Net, Current	481		$ 481		695
Capitalized costs, current portion, change			$ (214)
Capitalized costs, current portion, change (as percent)			(30.80%)
Capitalized Contract Cost, Net, Noncurrent	643		$ 643		673
Capitalized costs, noncurrent portion, change			$ (30)
Capitalized costs, noncurrent portion, change (as percent)			(4.50%)
Contract liabilities, current portion	7,826		$ 7,826		4,081
Contract liabilities, current portion, change			$ 3,745
Contract liabilities, current portion, change (as percent)			91.80%
Contract liabilities, noncurrent portion	19,624		$ 19,624		20,515
Contract liabilities, noncurrent portion, change			$ (891)
Contract liabilities, noncurrent portion, change (as percent)			(4.30%)
Capitalized contract cost, amortization	100	$ 200	$ 200	$ 300
Revenue recognized related to contract liabilities	100	$ 700	600	$ 1,200
Contract Changes Negotiated Settlements and Claims [Member]
Disaggregation of Revenue [Line Items]
Contract assets	0		0		0
Costs to Fulfill [Member]
Disaggregation of Revenue [Line Items]
Capitalized Contract Cost, Net	1,100		1,100		1,400
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
	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money Market Funds, at Carrying Value	$ 10,100	$ 100
Goodwill, Impairment Loss	0
Level 2 | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	583,500	562,500
Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 554,813	$ 547,393

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Notional Amount	$ 200
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	$ 1.3

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 29,820	$ 24,572
Contracts and other work in process (including certain general stock materials)	127,913	107,803
Finished goods	35,052	40,008
Inventories	$ 192,785	$ 172,383

Inventories - Inventory Due to

Inventories - Inventory Due to Contract Changes, Negotiated Settlements and Claims for Unanticipated Contract Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory due to contract changes, negotiated settlements and claims for unanticipated contract costs	$ 0	$ 0

Inventories - Other Inventory I

Inventories - Other Inventory Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Schedule of Inventory [Line Items]
Inventories	$ 192,785		$ 192,785		$ 172,383
Program Inventory Impairment	596	$ 0	596	$ 0	44,500
K-MAX®
Schedule of Inventory [Line Items]
Inventory, gross	22,200		22,200		24,700
Inventory noncurrent	20,000		20,000
SH 2GA Super Seasprite Program
Schedule of Inventory [Line Items]
Inventory, gross	6,000		6,000		$ 6,200
Inventory noncurrent	$ 4,800		$ 4,800

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Gross balance at beginning of period		$ 471,719
Accumulated impairment	$ (91,865)	(91,865)
Net balance at beginning of period	379,854
Additions	1,487
Impairments	0
Foreign currency translation	1,630
Net balance at end of period	382,971	379,854
Engineered Products
Goodwill [Roll Forward]
Gross balance at beginning of period		363,785
Accumulated impairment	0	0
Net balance at beginning of period	363,785
Additions	1,487
Impairments	0
Foreign currency translation	1,630
Net balance at end of period	366,902	363,785
Precision Products
Goodwill [Roll Forward]
Gross balance at beginning of period		41,375
Accumulated impairment	(25,306)	(25,306)
Net balance at beginning of period	16,069
Additions	0
Impairments	0
Foreign currency translation	0
Net balance at end of period	16,069	16,069
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	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 443,838	$ 443,145
Accumulated Amortization	(85,505)	(70,814)
Customer lists / relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	363,965	363,549
Accumulated Amortization	(48,187)	(41,695)
Developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross Amount	45,183	45,028
Accumulated Amortization	(19,688)	(17,508)
Trademarks / trade names
Finite-Lived Intangible Assets [Line Items]
Gross Amount	16,774	16,681
Accumulated Amortization	(3,508)	(3,153)
Non-compete agreements and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	17,365	17,336
Accumulated Amortization	$ (13,631)	(7,974)
Patents
Finite-Lived Intangible Assets [Line Items]
Amortization Period	17 years
Gross Amount	$ 551	551
Accumulated Amortization	$ (491)	$ (484)
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) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Mar. 29, 2024	Jun. 30, 2023 USD ($)	Jul. 01, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jul. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 21, 2023 USD ($)	Dec. 13, 2019 USD ($)
Line of Credit Facility [Line Items]
Consolidated Total Net Leverage Ratio		3,700		3,700
Total Average Bank Borrowings				$ 393,800		$ 120,700
Amortization of debt issuance costs				2,317	$ 1,024
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Amortization of debt issuance costs		$ 600	$ 300	1,200	$ 500
Credit Agreement 2019 | Revolving Credit Facility [Member]
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity		740,000		740,000		800,000		$ 800,000
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		740,000		740,000		800,000		$ 800,000
Long-term Line of Credit		384,000		384,000		363,000
Line of Credit Facility Remaining Borrowing Capacity Excluding LOCs		356,000		356,000		437,000
Letters of Credit Outstanding, Amount		52,693		52,693		51,630
Line of Credit Facility, Remaining Borrowing Capacity		303,307		303,307		385,370
Line of Credit Facility Remaining Borrowing Capacity subject to EBITDA limitations		$ 151,126		$ 151,126		199,106
Credit Agreement 2023
Debt Disclosure [Abstract]
Debt Instrument, Basis Points		1		1
Line of Credit Facility [Line Items]
Consolidated Total Indebtedness to Consolidated EBITDA, Ratio		5		5
Debt Instrument, Basis Points		1		1
Consolidated Total Indebtedness to Consolidated EBITDA, Ratio, Q4 2024 - Q3 2025		4.50		4.50
Consolidated Total Indebtedness to Consolidated EBITDA, Ratio, Q4 2025 & thereafter		4		4
Minimum Liquidity Debt Covenant under Credit Agreement				0.50
Line of Credit Facility, Interest Rate at Period End		6.80%		6.80%
Consolidated Total Indebtedness to Consolidated EBITDA, Ratio, Q4 2023 - Q3 2024		4.75		4.75
Credit Agreement 2023 | Forecast
Line of Credit Facility [Line Items]
Minimum Liquidity Debt Covenant under Credit Agreement	1
Credit Agreement 2023 | Maximum
Line of Credit Facility [Line Items]
Debt Instrument, Interest Coverage Ratio		3		3
Credit Agreement 2023 | Minimum
Line of Credit Facility [Line Items]
Debt Instrument, Interest Coverage Ratio		1		1
Credit Agreement 2023 | Revolving Credit Facility [Member]
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity							$ 740,000
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity							740,000
Debt Issuance Costs, Line of Credit Arrangements, Gross							$ 4,800
Credit Agreement 2023 | Revolving Credit Facility [Member] | Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage				0.35%
Credit Agreement 2023 | Revolving Credit Facility [Member] | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage				0.20%
Credit Agreement 2023 | Letter of Credit | Maximum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage				2.25%
Credit Agreement 2023 | Letter of Credit | Minimum
Line of Credit Facility [Line Items]
Line of Credit Facility, Commitment Fee Percentage				1.375%
Letter of Credit | Revolving Credit Facility [Member] | JPF
Line of Credit Facility [Line Items]
Letters of Credit Outstanding, Amount		$ 47,300		$ 47,300		$ 46,100

Pension Plans - Pension plan ne

Pension Plans - Pension plan net periodic benefit costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Qualified Pension Plan
Defined Benefit Plan Disclosure
Service cost	$ (1,441)	$ (882)	$ (2,891)	$ (1,682)
Interest cost on projected benefit obligation	7,342	4,349	14,592	8,599
Expected return on plan assets	(9,597)	(10,564)	(19,147)	(21,089)
Amortization of net loss	1,972	1,154	3,847	2,129
Net pension cost (income)	1,158	(4,179)	2,183	(8,679)
SERP
Defined Benefit Plan Disclosure
Service cost	0	0	0	0
Interest cost on projected benefit obligation	44	22	88	44
Expected return on plan assets	0	0	0	0
Amortization of net loss	0	15	0	30
Net pension cost (income)	$ 44	$ 37	$ 88	$ 74

Pension Plans - Contributions (

Pension Plans - Contributions (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Qualified Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans
Contributions paid-to-date		$ 0
Expected future contributions	$ 0
SERP
Defined Benefit Plans and Other Postretirement Benefit Plans
Contributions paid-to-date	0.3	$ 0.5
Expected future contributions	$ 0.2

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Notional Value of Contract, Percent	60%
Offset Agreement
Loss Contingencies [Line Items]
Notional amount	$ 220.9
Estimate of possible loss	18.8
Contract with Customer, Liability	18.8
New Hartford
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	2.3
Payments for environmental remediation	1.8
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	0.5
Bloomfield
Loss Contingencies [Line Items]
Estimate of environmental remediation cost	2.2
Payments for environmental remediation	15.5
Environmental liability	10.3
Estimated remediation liability	$ 20.8
Discount rate (as a percent)	8%
Bloomfield | Other accruals and payables
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Liabilities, Other Accruals & Payables	$ 0.1

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
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Earnings Per Share Reconciliation [Abstract]
Net earnings	$ 5,255	$ 3,774	$ 4,486	$ 7,649
Basic:
Weighted average number of shares outstanding (in shares)	28,203	28,005	28,160	27,977
Basic earnings per share (in usd per share)	$ 0.19	$ 0.13	$ 0.16	$ 0.27
Diluted:
Weighted average shares issuable on exercise of dilutive stock options (in shares)	152	54	151	94
Diluted (in shares)	28,355	28,059	28,311	28,071
Diluted earnings per share from continuing operations	$ 0.19	$ 0.13	$ 0.16	$ 0.27

Computation of Earnings Per S_4

Computation of Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
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	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	635,173	720,540	666,911	682,971

Share-based Arrangements - Comp

Share-based Arrangements - Compensation Arrangements by Share-based Payment Award (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 1,925	$ 2,730	$ 3,928	$ 4,811
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			100%	100%
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	1,900	2,700	$ 3,900	$ 4,800
Restructuring and Severance
Share-based Compensation Arrangement by Share-based Payment Award
Stock compensation expense	$ 0	$ 100	$ 300	$ 100

Share-based Arrangements - Stoc

Share-based Arrangements - Stock Options Activity (Details) - Stock Options - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of the period (in shares)	686,721	710,782
Granted (in shares)	0	0
Exercised (in shares)	0	0
Forfeited or expired (in shares)	(70,979)	(95,040)
Outstanding at end of period (in shares)	615,742	615,742
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)	$ 54.31	$ 54.31	$ 54.51	$ 54.12
Granted, Weighted-average exercise price (in usd per share)	0	0
Exercised, Weighted-average exercise price (in usd per share)	0	0
Forfeited or expired, Weighted average exercise price (in usd per share)	56.22	52.89
Options outstanding end of period, Weighted-average exercise price (in usd per share)	$ 54.31	54.31	$ 54.51	$ 54.12
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Per share fair value of options granted (in usd per share)		$ 0

Share-based Arrangements - Rest

Share-based Arrangements - Restricted Stock Activity (Details) - Restricted Stock Awards - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
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)	195,267	159,521
Granted (in shares)	38,232	140,832
Vested (in shares)	(2,244)	(64,732)
Forfeited or expired (in shares)	(4,059)	(8,425)
Restricted Stock outstanding at end of period (in shares)	227,196	227,196
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)	$ 34.51	$ 45.78
Granted, Weighted Average Grant Date Fair Value (usd per share)	22.76	24.57
Vested, Weighted Average Grant Date Fair Value (usd per share)	34.98	46.71
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	31.70	39.89
Restricted Stock outstanding at end of period Weighted-average grant date fair value (usd per share)	$ 32.58	$ 32.58

Share-based Arrangements Perfor

Share-based Arrangements Performance Shares (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jul. 01, 2022	Mar. 31, 2023	Dec. 31, 2022
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
Per share fair value of options granted (in usd per share)		$ 0
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	227,196	227,196		195,267	159,521
Granted (in shares)	38,232	140,832
Vested (in shares)	(2,244)	(64,732)
Forfeited or expired (in shares)	(4,059)	(8,425)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 32.58	$ 32.58		$ 34.51	$ 45.78
Granted, Weighted Average Grant Date Fair Value (usd per share)	22.76	24.57
Vested, Weighted Average Grant Date Fair Value (usd per share)	34.98	46.71
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	$ 31.70	$ 39.89
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	314,552	314,552		320,184	172,144
Granted (in shares)	0	178,385
Vested (in shares)	0	0
Forfeited or expired (in shares)	(5,632)	(35,977)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 45	$ 45		$ 44.95	$ 60.44
Granted, Weighted Average Grant Date Fair Value (usd per share)	0	32.03
Vested, Weighted Average Grant Date Fair Value (usd per share)	0	0
Forfeited or expired, Weighted Average Grant Date Fair Value (usd per share)	$ 42.32	$ 54.60
Expected option term		2 years 10 months 24 days	2 years 10 months 24 days
Expected volatility		41.20%	39.40%
Risk-free interest rate		4.40%	1.70%
Expected dividend yield		3.30%	1.90%
Per share fair value of options granted (in usd per share)		$ 38.83	$ 68.10

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
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
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(1)	$ 679,983	$ 785,719	$ 680,756	$ 795,453
Comprehensive income (loss)	9,584	(5,587)	12,443	(6,168)
Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively)	(5,638)	(5,597)	(11,265)	(11,187)
Employee stock plans and related tax benefit	475	481	970	1,266
Purchase of treasury shares	0	(123)	(503)	(698)
Share-based compensation expense	1,925	2,730	3,928	4,811
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	931	(10,254)	3,469	(15,472)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]		0		(5,854)
Ending balance	686,329	777,623	686,329	777,623
Retained earnings	678,456		678,456		$ 685,234
Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance(1)		1,000		900
Comprehensive income (loss)		$ (5,297)		$ (5,725)
Retained earnings					$ 688,457
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		$ 0

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
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Mar. 31, 2023	Dec. 31, 2022	Apr. 01, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance(1)	$ 679,983	$ 785,719	$ 680,756	$ 795,453
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	931	(10,254)	3,469	(15,472)
Other comprehensive income (loss)	4,329	(9,361)	7,957	(13,817)
Ending balance	686,329	777,623	686,329	777,623
Other Comprehensive Income, Derivative Instruments	1,532	0	1,532	0	$ (351)	$ 0	$ 7	$ 7
Other Comprehensive Income (Loss), Derivative Instruments, Unrealized Loss / Gain, Tax	632	0	554	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(215)	(7)	(306)	(7)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	$ 457	$ 269	$ 891	$ 497
Common Stock, Dividends, Per Share, Declared	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	$ 2,098	$ 0	$ 1,838	$ 0
Other Comprehensive Income, Derivative Instruments, Reclassification to Net Income, Tax	(64)	0	(92)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	568	0	462	0
Other Comprehensive Income, Other, Net of Tax	1,883	(7)	1,532	(7)
Total accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Ending balance	(150,464)	(125,202)	(150,464)	(125,202)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance(1)	467	3,547	(2,071)	8,765
Other comprehensive income (loss)	931	(10,254)	3,469	(15,472)
Ending balance	1,398	(6,707)	1,398	(6,707)
Pension and other post-retirement benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	1,515	900	2,956	1,662
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance(1)	(154,909)	(119,395)	(156,350)	(120,157)
Other comprehensive income (loss)	1,515	900	2,956	1,662
Ending balance	$ (153,394)	$ (118,495)	$ (153,394)	$ (118,495)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	28.70%	11.30%	29.90%	18.60%