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Acquisitions (Tables)

3 Months Ended

Mar. 28, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions, by Acquisition

The total purchase consideration consisted of the following (in thousands):

Cash paid			$	276,203
Contingent consideration			14,498
Total purchase consideration			$	290,701

Preliminary purchase consideration was allocated to assets acquired and liabilities assumed based on estimated fair values as follows (in thousands):

Cash and cash equivalents			$	30,899
Accounts receivable			28,120
Inventories			26,119
Other current assets			18,515
Property, plant and equipment			16,619
Other non-current assets			5,854
Identifiable intangible assets			131,240
Goodwill			127,267
Current liabilities			(52,968)
Deferred income taxes, net			(33,474)
Other non-current liabilities			(7,490)
Total net assets acquired			$	290,701

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase consideration consisted of the following (in thousands):

Cash paid			$	276,203
Contingent consideration			14,498
Total purchase consideration			$	290,701

Preliminary purchase consideration was allocated to assets acquired and liabilities assumed based on estimated fair values as follows (in thousands):

Cash and cash equivalents			$	30,899
Accounts receivable			28,120
Inventories			26,119
Other current assets			18,515
Property, plant and equipment			16,619
Other non-current assets			5,854
Identifiable intangible assets			131,240
Goodwill			127,267
Current liabilities			(52,968)
Deferred income taxes, net			(33,474)
Other non-current liabilities			(7,490)
Total net assets acquired			$	290,701

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

Identifiable intangible assets and estimated useful life are as follows (in thousands):

									Estimated Life (years)
Trade name			$	32,458					Indefinite
Customer relationship			76,169						15
Developed technology			20,557						10
Backlog			2,056						0.5
Total identifiable intangibles assets			$	131,240

Schedule of Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Identifiable intangible assets and estimated useful life are as follows (in thousands):

									Estimated Life (years)
Trade name			$	32,458					Indefinite
Customer relationship			76,169						15
Developed technology			20,557						10
Backlog			2,056						0.5
Total identifiable intangibles assets			$	131,240

Business Acquisition, Pro Forma Information

The following unaudited pro forma information provides the results of operations for the periods ended March 28, 2025 and March 29, 2024, as if the acquisition had been completed at the beginning of fiscal year 2023 (in thousands, except per share amounts):

			Three Months Ended
			2025						2024
Net sales			$	528,284					$	525,019
Net earnings			125,125						123,057
Earnings per share
Basic			$	0.74					$	0.73
Diluted			$	0.73					$	0.71

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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