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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 27, 2025

Segment Reporting [Abstract]

Schedule of Financial Information for Reportable Segments

Summarized financial information for the Company’s reportable segments is shown in the following tables for the three and nine months ended September 27, 2025 and September 28, 2024:

			Three months ended
			September 27, 2025
(In millions)			MS						APS						Inter-segment						Total
Net sales			$	348.6					$	460.8					$	(2.3)					$	807.1
Cost of sales			203.4						254.7						(2.3)						455.8
Operating expenses			80.0						87.9						—						167.9
Segment profit			$	65.2					$	118.2					$	—					$	183.4

			Three months ended
			September 28, 2024
(In millions)			MS						APS						Inter-segment						Total
Net sales			$	346.7					$	463.1					$	(2.1)					$	807.7
Cost of sales			190.4						247.6						(2.1)						435.9
Operating expenses			84.6						88.1						—						172.7
Segment profit			$	71.7					$	127.4					$	—					$	199.1

			Nine months ended
			September 27, 2025
(In millions)			MS						APS						Inter-segment						Total
Net sales			$	1,044.9					$	1,334.6					$	(6.8)					$	2,372.7
Cost of sales			584.9						735.3						(6.8)						1,313.4
Operating expenses			247.3						277.1						—						524.4
Segment profit			$	212.7					$	322.2					$	—					$	534.9

			Nine months ended
			September 28, 2024
(In millions)			MS						APS						Inter-segment						Total
Net sales			$	1,039.0					$	1,359.0					$	(6.6)					$	2,391.4
Cost of sales			570.6						728.0						(6.6)						1,292.0
Operating expenses			259.3						269.8						—						529.1
Segment profit			$	209.1					$	361.2					$	—					$	570.3

Schedule of Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income tax expense for the three and nine months ended September 27, 2025 and September 28, 2024:

			Three months ended												Nine months ended
(In millions)			September 27, 2025						September 28, 2024						September 27, 2025						September 28, 2024
Total segment profit			$	183.4					199.1						$	534.9					$	570.3
Less:
Amortization of intangible assets			46.0						46.2						138.1						143.9
Unallocated general and administrative expenses			14.8						16.7						45.8						42.5
Operating income			122.6						136.2						351.0						383.9
Interest expense			47.9						51.6						151.3						162.7
Interest income			(1.8)						(1.2)						(5.1)						(5.4)
Other (income) expense, net			4.2						(0.2)						5.3						17.1
Income before income tax expense			$	72.3					$	86.0					$	199.5					$	209.5

The following tables summarize depreciation and capital expenditures for the Company’s reportable segments for the three and nine months ended September 27, 2025 and September 28, 2024:

			Three months ended												Nine months ended
(In millions)			September 27, 2025						September 28, 2024						September 27, 2025						September 28, 2024
Depreciation:
MS			$	21.7					$	22.3					$	67.1					$	68.2
APS			28.7						24.8						84.5						71.6
Total depreciation			$	50.4					$	47.1					$	151.6					$	139.8

			Three months ended												Nine months ended
(In millions)			September 27, 2025						September 28, 2024						September 27, 2025						September 28, 2024
Capital expenditures:
MS			$	28.1					$	17.8					$	89.2					$	56.7
APS			38.7						64.4						152.0						151.4
Total capital expenditures			$	66.8					$	82.2					$	241.2					$	208.1

Schedule of Revenue from External Customers, by Geographical Areas

In the following tables, net sales are disaggregated by customers’ country or region based on the ship to location of the customer for the three and nine months ended September 27, 2025 and September 28, 2024, respectively.

			Three months ended September 27, 2025
(In millions)			MS						APS						Inter-segment						Total
North America			$	67.3					$	70.6					$	(2.3)					$	135.6
Taiwan			74.3						111.9						—						186.2
China			60.4						117.5						—						177.9
South Korea			49.4						60.4						—						109.8
Japan			35.4						43.1						—						78.5
Europe			25.8						31.7						—						57.5
Southeast Asia			36.0						25.6						—						61.6
			$	348.6					$	460.8					$	(2.3)					$	807.1

			Three months ended September 28, 2024
(In millions)			MS						APS						Inter-segment						Total
North America			$	73.2					$	91.0					$	(2.1)					$	162.1
Taiwan			60.0						101.3						—						161.3
China			62.8						109.2						—						172.0
South Korea			53.3						52.0						—						105.3
Japan			34.0						43.2						—						77.2
Europe			25.5						42.6						—						68.1
Southeast Asia			37.9						23.8						—						61.7
			$	346.7					$	463.1					$	(2.1)					$	807.7

			Nine months ended September 27, 2025
(In millions)			MS						APS						Inter-segment						Total
North America			$	203.1					$	232.2					$	(6.8)					$	428.5
Taiwan			207.1						330.3						—						537.4
China			203.3						293.0						—						496.3
South Korea			151.4						168.5						—						319.9
Japan			99.6						131.3						—						230.9
Europe			74.2						102.7						—						176.9
Southeast Asia			106.2						76.6						—						182.8
			$	1,044.9					$	1,334.6					$	(6.8)					$	2,372.7

			Nine months ended September 28, 2024
(In millions)			MS						APS						Inter-segment						Total
North America			$	248.8					$	274.5					$	(6.6)					$	516.7
Taiwan			173.5						303.0						—						476.5
China			181.7						309.2						—						490.9
South Korea			150.6						156.9						—						307.5
Japan			93.0						126.5						—						219.5
Europe			87.7						122.8						—						210.5
Southeast Asia			103.7						66.1						—						169.8
			$	1,039.0					$	1,359.0					$	(6.6)					$	2,391.4

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.

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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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