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Other Expense (Income), net (Tables) | 3 Months Ended
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Mar. 30, 2024
Other Income and Expenses [Abstract] |
Other expense (income), net | Other expense, net for the three months ended March 30, 2024 consists of the following:
| Three months ended |  |
(In thousands) | March 30, 2024 |  | April 1, 2023 |  |  |  |
Infineum termination fee, net | $ | — |  |  | $ | (10,876) |  |  |  |  |
Loss on foreign currency transactions | 1,642 |  |  | 2,401 |  |  |  |  |
Loss on extinguishment of debt and modification | 11,551 |  |  | 3,880 |  |  |  |  |
Other, net | 1,092 |  |  | (63) |  |  |  |  |
Other expense (income), net | $ | 14,285 |  |  | $ | (4,658) |  |  |  |  |
Infineum termination fee, net On October 11, 2022, the Company and Infineum USA L.P. (“Infineum”) entered into a definitive agreement for the sale of the Company’s PIM business. On February 10, 2023, the Company terminated the definitive agreement. In accordance with the terms of the definitive agreement, the Company received a $12.0 million termination fee from Infineum in the first quarter of 2023 and incurred a transaction fee of $1.1 million to the third-party financial adviser it had engaged to assist with the transaction.

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- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. + References No definition available. + Details
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