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Long-lived asset impairment | 6 Months Ended
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Jun. 28, 2025
Asset Impairment Charges [Abstract] |
Asset Impairment Charges | The Company recorded an impairment charge of $13.0 million related to the long-lived assets of a small, industrial specialty chemicals business that reports within the Materials Solutions (“MS”) segment due to a change in the fair value of the reporting unit for the three months ended March 30, 2024. The impairment is classified as Selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. No further impairment charge was recorded during the three and six months ended June 28, 2025. The fair value of the reporting unit was determined using a market-based approach. We consider this a Level 3 measurement in the fair value hierarchy. This business remains classified as an asset held-for-sale as of June 28, 2025. See Note 4 for further discussion. During the second fiscal quarter of 2025, the Company recorded an impairment charge of $6.3 million related to long-lived assets as a result of restructuring initiatives that took place during the quarter. See Note 14 for further discussion.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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