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Investment in Unconsolidated Affiliates
12 Months Ended
Dec. 28, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Unconsolidated Affiliates Investments in Unconsolidated Affiliates
Tecumseh

The Company owns a 50 percent interest in an unconsolidated affiliate that acquired Tecumseh and an entity that provides financing to Tecumseh. Tecumseh is a global manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers, and commercial refrigeration applications, including air conditioning and refrigeration compressors, as well as condensing units, heat pumps, and complete refrigeration systems.
The Company’s net income (loss) from unconsolidated affiliates, net of foreign tax, for 2024, 2023, and 2022 included losses of $9.5 million, losses of $22.7 million, and income of $5.2 million, respectively, for Tecumseh.

During 2024, the Company advanced Tecumseh $12.5 million, which was comprised of a capital contribution of $8.7 million and a note receivable of $3.8 million. These advances did not change the Company’s proportionate ownership in Tecumseh.

Retail Distribution

The Company owns a 28 percent noncontrolling equity interest in a limited liability company in the retail distribution business.

The Company’s net income (loss) from unconsolidated affiliates, net of foreign tax, for 2024, 2023, and 2022 included income of $11.7 million, $7.9 million, and $4.9 million, respectively, for the retail distribution business.