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Reportable Segments | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Reportable Segments | Reportable Segments The Company has two reportable segments, Electronic Instruments Group and Electromechanical Group. The Company identifies its operating segments for segment reporting purposes primarily on the basis of product type, production processes, distribution methods and management organizations. Reportable Segment Financial Information (in thousands):
| Three Months Ended September 30, 2025
| EMG |  | EIG |  | Corporate |  | Total Consolidated
Net Sales | $ | 646,309 |  |  | $ | 1,246,332 |  |  | $ | — |  |  | $ | 1,892,641 |
Cost of sales (1) | 460,061 |  |  | 746,444 |  |  | — |  |  | 1,206,505 |
Selling expense | 22,373 |  |  | 147,451 |  |  | — |  |  | 169,824 |
Segment Operating Income | 163,875 |  |  | 352,437 |  |  | — |  |  | 516,312 |
Corporate G&A | — |  |  | — |  |  | 27,932 |  |  | 27,932 |
Operating Income | 163,875 |  |  | 352,437 |  |  | (27,932) |  |  | 488,380 |
Interest expense | — |  |  | — |  |  | (22,514) |  |  | (22,514) |
Other (expense) income, net (2) | — |  |  | — |  |  | (17,901) |  |  | (17,901) |
Income before Income Taxes | $ | 163,875 |  |  | $ | 352,437 |  |  | $ | (68,347) |  |  | $ | 447,965 |
Depreciation | 14,964 |  |  | 19,409 |  |  | 1,407 |  |  | 35,780 |
Amortization | 18,711 |  |  | 48,587 |  |  | — |  |  | 67,298 |
Total depreciation and amortization | $ | 33,675 |  |  | $ | 67,996 |  |  | $ | 1,407 |  |  | $ | 103,078 |
Research, Development & Engineering costs (3) | $ | 19,995 |  |  | $ | 74,686 |  |  | $ | — |  |  | $ | 94,681 |
Assets | $ | 4,837,524 |  |  | $ | 10,717,580 |  |  | $ | 627,153 |  |  | $ | 16,182,257 |
Capital Expenditures (4) | $ | 7,929 |  |  | $ | 12,984 |  |  | $ | — |  |  | $ | 20,913 |
(1)Includes $7.8 million of acquisition-related costs. (2)Includes $12.0 million of acquisition-related costs. (3)Included in cost of sales. (4)Excludes $23.1 million of acquired capital expenditures in EIG.
| Three Months Ended September 30, 2024
| EMG |  | EIG |  | Corporate |  | Total Consolidated
Net Sales | $ | 573,976 |  |  | $ | 1,134,588 |  |  | $ | — |  |  | $ | 1,708,564 |
Cost of sales | 420,375 |  |  | 672,379 |  |  | — |  |  | 1,092,754 |
Selling expense | 22,082 |  |  | 123,246 |  |  | — |  |  | 145,328 |
Segment Operating Income | 131,519 |  |  | 338,963 |  |  | — |  |  | 470,482 |
Corporate G&A | — |  |  | — |  |  | 24,631 |  |  | 24,631 |
Operating Income | 131,519 |  |  | 338,963 |  |  | (24,631) |  |  | 445,851 |
Interest expense | — |  |  | — |  |  | (25,118) |  |  | (25,118) |
Other (expense) income, net | — |  |  | — |  |  | (1,888) |  |  | (1,888) |
Income before Income Taxes | $ | 131,519 |  |  | $ | 338,963 |  |  | $ | (51,637) |  |  | $ | 418,845 |
Depreciation | $ | 12,120 |  |  | $ | 17,123 |  |  | $ | 1,303 |  |  | $ | 30,546 |
Amortization | 16,716 |  |  | 43,105 |  |  | — |  |  | 59,821 |
Total depreciation and amortization | $ | 28,836 |  |  | $ | 60,228 |  |  | $ | 1,303 |  |  | $ | 90,367 |
Research, Development & Engineering costs (1) | $ | 17,692 |  |  | $ | 76,623 |  |  | $ | — |  |  | $ | 94,315 |
Assets | $ | 4,850,224 |  |  | $ | 9,384,031 |  |  | $ | 533,384 |  |  | $ | 14,767,639 |
Capital Expenditures | $ | 9,073 |  |  | $ | 13,622 |  |  | $ | 3,587 |  |  | $ | 26,282 |
(1)Included in cost of sales.
| Nine Months Ended September 30, 2025
| EMG |  | EIG |  | Corporate |  | Total Consolidated
Net Sales | $ | 1,853,092 |  |  | $ | 3,549,576 |  |  | $ | — |  |  | $ | 5,402,668 |
Cost of sales (1) | 1,349,981 |  |  | 2,105,662 |  |  | — |  |  | 3,455,643 |
Selling expense | 66,630 |  |  | 392,999 |  |  | — |  |  | 459,629 |
Segment Operating Income | 436,481 |  |  | 1,050,915 |  |  | — |  |  | 1,487,396 |
Corporate G&A | — |  |  | — |  |  | 82,561 |  |  | 82,561 |
Operating Income | 436,481 |  |  | 1,050,915 |  |  | (82,561) |  |  | 1,404,835 |
Interest expense | — |  |  | — |  |  | (58,364) |  |  | (58,364) |
Other (expense) income, net (2) | — |  |  | — |  |  | (22,115) |  |  | (22,115) |
Income before Income Taxes | $ | 436,481 |  |  | $ | 1,050,915 |  |  | $ | (163,040) |  |  | $ | 1,324,356 |
Depreciation | $ | 46,022 |  |  | $ | 57,296 |  |  | $ | 4,324 |  |  | $ | 107,642 |
Amortization | 72,166 |  |  | 137,338 |  |  | — |  |  | 209,504 |
Total depreciation and amortization | $ | 118,188 |  |  | $ | 194,634 |  |  | $ | 4,324 |  |  | $ | 317,146 |
Research, Development & Engineering costs (3) | $ | 62,270 |  |  | $ | 221,503 |  |  | $ | — |  |  | $ | 283,773 |
Capital Expenditures (4) | $ | 25,286 |  |  | $ | 34,653 |  |  | $ | 13,312 |  |  | $ | 73,251 |
(1)Includes $7.8 million of acquisition-related costs. (2)Includes $12.0 million of acquisition-related costs. (3)Included in cost of sales. (4)Excludes $33.9 million of acquired capital expenditures in EIG.
| Nine Months Ended September 30, 2024
| EMG |  | EIG |  | Corporate |  | Total Consolidated
Net Sales | $ | 1,734,598 |  |  | $ | 3,444,980 |  |  | $ | — |  |  | $ | 5,179,578 |
Cost of sales (1) | 1,322,180 |  |  | 2,025,680 |  |  | — |  |  | 3,347,860 |
Selling expense | 67,106 |  |  | 377,540 |  |  | — |  |  | 444,646 |
Segment Operating Income | 345,312 |  |  | 1,041,760 |  |  | — |  |  | 1,387,072 |
Corporate G&A | — |  |  | — |  |  | 76,491 |  |  | 76,491 |
Operating Income | 345,312 |  |  | 1,041,760 |  |  | (76,491) |  |  | 1,310,581 |
Interest expense | — |  |  | — |  |  | (90,962) |  |  | (90,962) |
Other (expense) income, net | — |  |  | — |  |  | (2,435) |  |  | (2,435) |
Income before Income Taxes | $ | 345,312 |  |  | $ | 1,041,760 |  |  | $ | (169,888) |  |  | $ | 1,217,184 |
Depreciation | $ | 44,802 |  |  | $ | 52,553 |  |  | $ | 4,338 |  |  | $ | 101,693 |
Amortization | 55,925 |  |  | 129,431 |  |  | — |  |  | 185,356 |
Total depreciation and amortization | $ | 100,727 |  |  | $ | 181,984 |  |  | $ | 4,338 |  |  | $ | 287,049 |
Research, Development & Engineering costs (2) | $ | 36,864 |  |  | $ | 153,576 |  |  | $ | — |  |  | $ | 190,440 |
Capital Expenditures | $ | 27,845 |  |  | $ | 36,765 |  |  | $ | 10,740 |  |  | $ | 75,350 |
(1)Includes $29.2 million in EMG for Paragon acquisition-related costs. (2)Included in cost of sales.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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