XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.26.1

STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION | 6 Months Ended
--- | ---
Jun. 27, 2026
Equity [Abstract] |
STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION | STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION Income Per Share The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share:
| Three months ended |  | Six months ended
| June 27, 2026 |  | June 28, 2025 |  | June 27, 2026 |  | June 28, 2025
Weighted-average number of common shares used in basic income per share | 50.070 |  |  | 46.716 |  |  | 49.999 |  |  | 46.586 |
Dilutive securities — Employee stock options, performance stock units and restricted stock units | 0.605 |  |  | 0.680 |  |  | 0.598 |  |  | 0.669 |
Weighted-average number of common shares and dilutive securities used in diluted income per share | 50.675 |  |  | 47.396 |  |  | 50.597 |  |  | 47.255 |
The weighted-average number of restricted stock units, performance stock units and stock options excluded from the computation of diluted income per share because the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the related period were 0.110 and 0.182, r espectively, for the three mon ths ended June 27, 2026, and 0.093 and 0.170, respectively, for the six months ended June 27, 2026. The weighted-average number of restricted stock units, performance stock units and stock options excluded from the computation of diluted income per share because the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the related period were 0.151 and 0.265, respectively, for the three months ended June 28, 2025, and 0.133 and 0.251, respectively, for the six months ende d June 28, 2025. Long-Term Incentive Compensation Long-term incentive compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2026 is included in our 2025 Annual Report on Form 10-K. Awards granted on March 2, 2026 to executive officers and other members of senior management were comprised of performance stock units (“PSU’s”), stock options, and time-based restricted stock units (“RSU’s”), while other eligible employees were granted PSU’s and RSU’s. The PSU’s are eligible to vest at the end of a three-year performance period, with performance based on the total return of our stock over the three-year performance period against a peer group within the combined S&P 600 Small Cap Capital Goods Index and S&P 400 Mid Cap Capital Goods Index. Stock options and RSU’s vest ratably over the three-year period subsequent to the date of grant. Effective May 12, 2026, we granted 0.006 RSU’s to our non-employee directors, which vest in their entirety immediately prior to the annual meeting of stockholders in May 2027. C ompensation expense within income from continuing operations related to long-term incentive awards totaled $4.3 and $3.9 for the three months ended June 27, 2026 and June 28, 2025, respectively, an d $8.0 an d $7.6 for the six months ended June 27, 2026 and June 28, 2025, respectively. The related tax benefit w as $0.7 for the three months ended June 27, 2026 and June 28, 2025, respectively, and $1.3 for the six months e nded June 27, 2026 and June 28, 2025, respectively. Repurchases of Common Stock On May 12, 2026, our Board of Directors authorized management, in its sole discretion, to repurchase, in any fiscal year, up to $100.0 of our common stock, subject to maintaining compliance with all covenants of our senior credit agreement. No share repurchases were effected pursuant to this and prior authorizations during the three and six months ended June 27, 2026. Accumulated Other Comprehensive Income The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 27, 2026 were as follows:
| Foreign Currency Translation Adjustment |  | Net Unrealized Gains on Qualifying Cash Flow Hedges(1) |  | Pension and Postretirement Liability Adjustment(2) |  | Total
Balance at beginning of period | $ | 254.5 |  |  | $ | — |  |  | $ | (0.3) |  |  | $ | 254.2 |
Other comprehensive income (loss) before reclassifications | (22.1) |  |  | 0.1 |  |  | — |  |  | (22.0) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | (0.2) |  |  | (0.2) |
Current-period other comprehensive income (loss) | (22.1) |  |  | 0.1 |  |  | (0.2) |  |  | (22.2) |
Balance at end of period | $ | 232.4 |  |  | $ | 0.1 |  |  | $ | (0.5) |  |  | $ | 232.0 |
__________________________ (1)Net of tax provision of $0.1 and $0.0 as of June 27, 2026 and March 28, 2026, respectively. (2)Net of tax provision of $0.0 as of June 27, 2026 and March 28, 2026. The balances as of June 27, 2026 and March 28, 2026 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 27, 2026 were as follows:
| Foreign Currency Translation Adjustment |  | Net Unrealized Gains on Qualifying Cash Flow Hedges(1) |  | Pension and Postretirement Liability Adjustment(2) |  | Total
Balance at beginning of period | $ | 260.6 |  |  | $ | — |  |  | $ | (0.1) |  |  | $ | 260.5 |
Other comprehensive income (loss) before reclassifications | (28.2) |  |  | 0.1 |  |  | — |  |  | (28.1) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | — |  |  | (0.4) |  |  | (0.4) |
Current-period other comprehensive income (loss) | (28.2) |  |  | 0.1 |  |  | (0.4) |  |  | (28.5) |
Balance at end of period | $ | 232.4 |  |  | $ | 0.1 |  |  | $ | (0.5) |  |  | $ | 232.0 |
__________________________ (1)Net of tax provision of $0.1 and $0.0 as of June 27, 2026 and December 31, 2025, respectively. (2)Net of tax provision of $0.0 as of June 27, 2026 and December 31, 2025. The balances as of June 27, 2026 and December 31, 2025 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 28, 2025 were as follows:
| Foreign Currency Translation Adjustment |  | Net Unrealized Gains on Qualifying Cash Flow Hedges(1) |  | Pension and Postretirement Liability Adjustment(2) |  | Total
Balance at beginning of period | $ | 230.1 |  |  | $ | 1.8 |  |  | $ | 1.5 |  |  | $ | 233.4 |
Other comprehensive income before reclassifications | 31.4 |  |  | 0.1 |  |  | — |  |  | 31.5 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | (0.6) |  |  | (0.5) |  |  | (1.1) |
Current-period other comprehensive income (loss) | 31.4 |  |  | (0.5) |  |  | (0.5) |  |  | 30.4 |
Balance at end of period | $ | 261.5 |  |  | $ | 1.3 |  |  | $ | 1.0 |  |  | $ | 263.8 |
__________________________ (1)Net of tax provision of $0.5 and $0.4 as of June 28, 2025 and March 29, 2025, respectively. (2)Net of tax provision of $0.5 and $0.8 as of June 28, 2025 and March 29, 2025, respectively. The balances as of June 28, 2025 and March 29, 2025 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 28, 2025 were as follows:
| Foreign Currency Translation Adjustment |  | Net Unrealized Gains on Qualifying Cash Flow Hedges(1) |  | Pension and Postretirement Liability Adjustment(2) |  | Total
Balance at beginning of period | $ | 218.9 |  |  | $ | 2.6 |  |  | $ | 2.1 |  |  | $ | 223.6 |
Other comprehensive income before reclassifications | 42.6 |  |  | — |  |  | — |  |  | 42.6 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | (1.3) |  |  | (1.1) |  |  | (2.4) |
Current-period other comprehensive income (loss) | 42.6 |  |  | (1.3) |  |  | (1.1) |  |  | 40.2 |
Balance at end of period | $ | 261.5 |  |  | $ | 1.3 |  |  | $ | 1.0 |  |  | $ | 263.8 |
__________________________ (1)Net of tax provision of $0.5 and $0.7 as of June 28, 2025 and December 31, 2024, respectively. (2)Net of tax provision of $0.5 and $1.0 as of June 28, 2025 and December 31, 2024, respectively. The balances as of June 28, 2025 and December 31, 2024 include unamortized prior service credits. The following summarizes amounts reclassified from each component of accumulated other comprehensive income for the three months ended June 27, 2026 and June 28, 2025:
| Amount Reclassified from AOCI |  |
| Three months ended |  |
| June 27, 2026 |  | June 28, 2025 |  | Affected Line Item in the Condensed Consolidated Statements of Operations
Gains on qualifying cash flow hedges: |  |  |  |  |
Swaps | $ | — |  |  | $ | (0.6) |  |  | Interest expense
Pre-tax | — |  |  | (0.6) |  |  |
Income taxes | — |  |  | — |  |  |
| $ | — |  |  | $ | (0.6) |  |  |
Gains on pension and postretirement items: |  |  |  |  |
Amortization of unrecognized prior service credits - Pre-tax | $ | (0.2) |  |  | $ | (0.8) |  |  | Other income (expense), net
Income taxes | — |  |  | 0.3 |  |  |
| $ | (0.2) |  |  | $ | (0.5) |  |  |
The following summarizes amounts reclassified from each component of accumulated other comprehensive income for the six months ended June 27, 2026 and June 28, 2025:
| Amount Reclassified from AOCI |  |
| Six months ended |  |
| June 27, 2026 |  | June 28, 2025 |  | Affected Line Item in the Condensed Consolidated Statements of Operations
Gains on qualifying cash flow hedges: |  |  |  |  |
Swaps | $ | — |  |  | $ | (1.6) |  |  | Interest expense
Pre-tax | — |  |  | (1.6) |  |  |
Income taxes | — |  |  | 0.3 |  |  |
| $ | — |  |  | $ | (1.3) |  |  |
Gains on pension and postretirement items: |  |  |  |  |
Amortization of unrecognized prior service credits - Pre-tax | $ | (0.4) |  |  | $ | (1.6) |  |  | Other income (expense), net
Income taxes | — |  |  | 0.5 |  |  |
| $ | (0.4) |  |  | $ | (1.1) |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration