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Business Segments (Tables)

3 Months Ended

Mar. 30, 2025

Segment Reporting [Abstract]

Schedule of Net Sales, Operating Expenses and Operating Income by Segment

The following table presents net sales, operating expenses and operating income by segment (dollars in millions):

			First Quarter												%
Net Sales (a):			2025						2024						Change
Digital Imaging			$	757.0					$	740.8					2.2		%
Instrumentation			343.3						330.4						3.9		%
Aerospace and Defense Electronics			242.5						185.7						30.6		%
Engineered Systems			107.1						93.2						14.9		%
Total net sales			$	1,449.9					$	1,350.1					7.4		%

(a) Net sales exclude inter-segment sales of $3.8 million and $4.8 million for the first quarter of 2025 and 2024, respectively.

			First Quarter												%
Cost of sales:			2025						2024						Change
Digital Imaging			$	422.5					$	408.6					3.4		%
Instrumentation			173.5						171.2						1.3		%
Aerospace and Defense Electronics			144.2						107.9						33.6		%
Engineered Systems			90.2						82.5						9.3		%
Total cost of sales			$	830.4					$	770.2					7.8		%

			First Quarter												%
Selling, general and administrative:			2025						2024						Change
Digital Imaging			$	122.7					$	123.7					(0.8)		%
Instrumentation			49.7						47.0						5.7		%
Aerospace and Defense Electronics			33.2						21.0						58.1		%
Engineered Systems			6.1						7.9						(22.8)		%
Total selling, general and administrative			$	211.7					$	199.6					6.1		%

			First Quarter												%
Research and development:			2025						2024						Change
Digital Imaging			$	44.1					$	48.9					(9.8)		%
Instrumentation			24.2						22.8						6.1		%
Aerospace and Defense Electronics			6.0						4.7						27.7		%
Engineered Systems			—						0.1						(100.0)		%
Total research and development			$	74.3					$	76.5					(2.9)		%

			First Quarter												%
Acquired intangible asset amortization:			2025						2024						Change
Digital Imaging			$	45.4					$	45.8					(0.9)		%
Instrumentation			3.2						3.4						(5.9)		%
Aerospace and Defense Electronics			3.4						0.2						*
Total acquired intangible asset amortization			$	52.0					$	49.4					5.3		%

* Not meaningful

			First Quarter												%
Operating income (loss):			2025						2024						Change
Digital Imaging			$	122.3					$	113.8					7.5		%
Instrumentation			92.7						86.0						7.8		%
Aerospace and Defense Electronics			55.7						51.9						7.3		%
Engineered Systems			10.8						2.7						300.0		%
Corporate expense			(22.2)						(20.1)						10.4		%
Operating income (loss)			$	259.3					$	234.3					10.7		%

Identifiable assets are those assets used in the operations of the segments. Corporate assets primarily consist of cash and cash equivalents, deferred taxes, net pension assets/liabilities and other assets (in millions):

Identifiable assets:						March 30, 2025						December 29, 2024
Digital Imaging						$	11,021.1					$	10,942.4
Instrumentation						1,781.9						1,750.9
Aerospace and Defense Electronics						1,496.8						576.2
Engineered Systems						200.4						180.3
Corporate						548.3						750.7
Total identifiable assets						$	15,048.5					$	14,200.5

Schedule of Sales by Product Line

The following table provides a summary of the net sales by product line for the Instrumentation segment (in millions):

			First Quarter
Instrumentation			2025						2024
Marine Instrumentation			$	161.8					$	147.8
Environmental Instrumentation			108.9						111.1
Test and Measurement Instrumentation			72.6						71.5
Total			$	343.3					$	330.4

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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