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Segment Information (Tables)

9 Months Ended

Sep. 28, 2025

Segment Information

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals


			For the Third Quarter Ended September 28, 2025
			Americas			Europe			APMEA			Total

			(in millions)
Net sales
Net sales from external customers			$	464.1		$	111.6		$	36.0		$	611.7
Intersegment sales				2.2			6.4			22.0			30.6
Total segment net sales			$	466.3		$	118.0		$	58.0		$	642.3
Reconciliation of net sales
Elimination of intersegment sales													(30.6)
Total consolidated net sales												$	611.7
Less (a)
Segment cost of goods sold				227.2			75.7			40.7
Segment selling, general and administrative				113.7			26.0			9.6
Segment research and development				15.4			2.7			0.7
Segment earnings				110.0			13.6			7.0			130.6

Reconciliation of segment earnings to income before income taxes
Segment special items (b)													(1.9)
Corporate operating loss (c)													(17.3)
Consolidated operating income													111.4
Interest income													(2.5)
Interest expense													2.7
Other expense, net													0.2
Income before income taxes												$	111.0


			For the Third Quarter Ended September 29, 2024
			Americas			Europe			APMEA			Total

			(in millions)
Net sales
Net sales from external customers			$	400.0		$	107.3		$	36.3		$	543.6
Intersegment sales				1.9			5.9			17.3			25.1
Total segment net sales			$	401.9		$	113.2		$	53.6		$	568.7
Reconciliation of net sales
Elimination of intersegment sales													(25.1)
Total consolidated net sales												$	543.6
Less (a)
Segment cost of goods sold				198.4			75.1			36.6
Segment selling, general and administrative				101.7			24.1			9.5
Segment research and development				14.2			2.7			0.8
Segment earnings				87.6			11.3			6.7			105.6

Reconciliation of segment earnings to income before income taxes
Segment special items (b)													0.4
Corporate operating loss (c)													(12.8)
Consolidated operating income													93.2
Interest income													(2.1)
Interest expense													3.6
Other income, net													(0.6)
Income before income taxes												$	92.3


			For the Nine Months Ended September 28, 2025
			Americas			Europe			APMEA			Total

			(in millions)
Net sales
Net sales from external customers			$	1,380.8		$	331.0		$	101.6		$	1,813.4
Intersegment sales				6.4			25.1			78.2			109.7
Total segment net sales			$	1,387.2		$	356.1		$	179.8		$	1,923.1
Reconciliation of net sales
Elimination of intersegment sales													(109.7)
Total consolidated net sales												$	1,813.4
Less (a)
Segment cost of goods sold				665.9			229.1			130.1
Segment selling, general and administrative				334.8			77.6			28.6
Segment research and development				43.0			7.7			2.1
Segment earnings				343.5			41.7			19.0			404.2

Reconciliation of segment earnings to income before income taxes
Segment special items (b)													(24.1)
Corporate operating loss (c)													(45.7)
Consolidated operating income													334.4
Interest income													(7.1)
Interest expense													8.1
Other expense, net													0.8
Income before income taxes												$	332.6


			For the Nine Months Ended September 29, 2024
			Americas			Europe			APMEA			Total

			(in millions)
Net sales
Net sales from external customers			$	1,266.9		$	344.7		$	100.2		$	1,711.8
Intersegment sales				6.7			18.0			63.7			88.4
Total segment net sales			$	1,273.6		$	362.7		$	163.9		$	1,800.2
Reconciliation of net sales
Elimination of intersegment sales													(88.4)
Total consolidated net sales												$	1,711.8
Less (a)
Segment cost of goods sold				630.5			236.6			115.4
Segment selling, general and administrative				310.5			75.4			27.9
Segment research and development				43.6			8.5			2.0
Segment earnings				289.0			42.2			18.6			349.8

Reconciliation of segment earnings to income before income taxes
Segment special items (b)													(6.7)
Corporate operating loss (c)													(41.7)
Consolidated operating income													301.4
Interest income													(6.1)
Interest expense													11.9
Other income, net													(1.4)
Income before income taxes												$	297.0

(a)	The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. Significant segment expenses exclude certain expenses incurred and benefits recognized, see footnote (b) below. Intersegment expenses are included within the amounts shown.

(b)	Segment special items are excluded from segment earnings and defined as non-recurring and unusual expenses incurred or benefits recognized such as restructuring costs, acquisition-related costs, gain on sale of assets and pension settlements.

(c)

Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs. Corporate special items are included within the amounts shown and consist of acquisition-related costs.


		Third Quarter Ended						Nine Months Ended
		September 28,			September 29,			September 28,			September 29,
		2025			2024			2025			2024

		(in millions)
Capital expenditures
Americas		$	6.0		$	4.1		$	18.3		$	15.2
Europe			3.6			2.0			9.4			7.0
APMEA			1.9			0.3			3.6			1.1
Consolidated capital expenditures		$	11.5		$	6.4		$	31.3		$	23.3
Depreciation and amortization of intangibles
Americas		$	10.7		$	11.2		$	32.2		$	32.3
Europe			2.9			2.3			8.1			6.8
APMEA			0.6			0.5			1.7			1.7
Consolidated depreciation and amortization of intangibles		$	14.2		$	14.0		$	42.0		$	40.8


								September 28,			December 31,
								2025			2024

								(in millions)
Identifiable assets (at end of period)
Americas								$	1,931.3		$	1,728.0
Europe									625.5			534.1
APMEA									168.6			134.9
Consolidated identifiable assets								$	2,725.4		$	2,397.0
Property, plant and equipment, net (at end of period)
Americas								$	182.6		$	182.9
Europe									77.2			67.0
APMEA									7.6			4.9
Consolidated property, plant and equipment, net								$	267.4		$	254.8

Schedule of U.S. net sales and U.S. property, plant and equipment of the Company's Americas segment

Third Quarter Ended

Nine Months Ended

September 28,

September 29,

September 28,

September 29,

2025

2024

2025

2024

(in millions)

U.S. net sales

$

438.1

$

375.3

$

1,303.2

$

1,188.4