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Acquisitions (Tables) | 6 Months Ended
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Jun. 27, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination | The total purchase consideration consisted of the following (in thousands):
Cash paid | $ | 276,188 |
Contingent consideration | 14,498 |
Total purchase consideration | $ | 290,686 |
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 | 127,252 |
Current liabilities | (52,968) |
Deferred income taxes, net | (33,474) |
Other non-current liabilities | (7,490) |
Total net assets acquired | $ | 290,686 |
Business Combination, Recognized Asset Acquired and Liability Assumed | The total purchase consideration consisted of the following (in thousands):
Cash paid | $ | 276,188 |
Contingent consideration | 14,498 |
Total purchase consideration | $ | 290,686 |
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 | 127,252 |
Current liabilities | (52,968) |
Deferred income taxes, net | (33,474) |
Other non-current liabilities | (7,490) |
Total net assets acquired | $ | 290,686 |
Business Combination, Intangible Asset, Acquired, Finite-Lived | 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 Combination, Intangible Asset, Acquired, Indefinite-Lived | 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 Combination, Pro Forma Information | The following unaudited pro forma information provides the results of operations for the periods ended June 27, 2025 and June 28, 2024, as if the acquisition had been completed at the beginning of fiscal year 2023 (in thousands, except per share amounts):
| Three Months Ended |  | Six Months Ended |
| June 27, 2025 |  | June 28, 2024 |  | June 27, 2025 |  | June 28, 2024 |  |
Net sales | $ | 571,806 |  |  | $ | 588,253 |  |  | $ | 1,100,090 |  |  | $ | 1,113,273 |  |  |
Net earnings | 128,138 |  |  | 134,698 |  |  | 253,258 |  |  | 257,755 |  |  |
Earnings per share |  |  |  |  |  |  |  |  |
Basic | $ | 0.77 |  |  | $ | 0.80 |  |  | $ | 1.51 |  |  | $ | 1.53 |  |  |
Diluted | $ | 0.76 |  |  | $ | 0.78 |  |  | $ | 1.49 |  |  | $ | 1.49 |  |  |

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