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RESTRUCTURING AND ASSET IMPAIRMENTS | 3 Months Ended
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Mar. 29, 2025
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND ASSET IMPAIRMENTS | RESTRUCTURING AND ASSET IMPAIRMENTS The Company has undertaken restructuring actions impacting the reportable segments at various locations across North America, Europe and Asia to manage the Company through the current demand environment, including appropriately right-sizing the Company’s infrastructure, optimizing operations, and driving efficiency. This includes workforce right-sizing actions resulting in severance and transition costs; and costs related to the consolidation of facilities resulting in long-lived asset impairments (principally property, plant, and equipment and right-of-use assets), accelerated depreciation charges, and certain other costs. Generally, these actions are in response to recent macroeconomic impacts on the Company. The following table presents restructuring costs by reportable segment:
|  |  | Three Months Ended
|  |  |  |  | March 29, 2025 |  | March 30, 2024
|  |  |  |  | (in thousands)
RMS |  |  |  |  | $ | 1,424 |  |  | $ | 7,387 |
DSA |  |  |  |  | 17,542 |  |  | 6,491 |
Manufacturing |  |  |  |  | 3,711 |  |  | 1,631 |
Unallocated corporate |  |  |  |  | 1,168 |  |  | 1,490 |
Total |  |  |  |  | $ | 23,845 |  |  | $ | 16,999 |
The following table presents restructuring costs as included within the Company’s unaudited condensed consolidated statements of income:
| March 29, 2025 |  | March 30, 2024
| Severance and Transition Costs |  | Asset Impairments and Other Costs |  | Total |  | Severance and Transition Costs |  | Asset Impairments and Other Costs |  | Total
| (in thousands)
Three Months Ended |  |  |  |  |  |  |  |  |  |  |
Cost of services provided (excluding amortization of intangible assets) | $ | 7,698 |  |  | $ | 13,173 |  |  | $ | 20,871 |  |  | $ | 4,810 |  |  | $ | 1,108 |  |  | $ | 5,918 |
Cost of products sold (excluding amortization of intangible assets) | 263 |  |  | 1,233 |  |  | 1,496 |  |  | 678 |  |  | 1,330 |  |  | 2,008 |
Selling, general and administrative | 453 |  |  | 1,025 |  |  | 1,478 |  |  | 3,549 |  |  | 5,524 |  |  | 9,073 |
Total restructuring costs | $ | 8,414 |  |  | $ | 15,431 |  |  | $ | 23,845 |  |  | $ | 9,037 |  |  | $ | 7,962 |  |  | $ | 16,999 |
Rollforward of Restructuring Activities The following table provides a rollforward for the Company’s accrued restructuring costs related to all restructuring activities:
| Severance and Transition Costs |  | Asset Impairments |  | Other Costs |  | Total
| (in thousands)
Three Months Ended March 29, 2025 |  |  |  |  |  |  |
Beginning balance | $ | 24,469 |  |  | $ | — |  |  | $ | 875 |  |  | $ | 25,344 |
Expense | 8,414 |  |  | 10,306 |  |  | 5,125 |  |  | 23,845 |
Payments / utilization | (9,052) |  |  | — |  |  | (5,268) |  |  | (14,320) |
Other non-cash adjustments | — |  |  | (10,306) |  |  | 143 |  |  | (10,163) |
Foreign currency adjustments | 93 |  |  | — |  |  | — |  |  | 93 |
Ending Balance | $ | 23,924 |  |  | $ | — |  |  | $ | 875 |  |  | $ | 24,799 |
Three Months Ended March 30, 2024 |  |  |  |  |  |  |
Beginning balance | $ | 4,175 |  |  | $ | — |  |  | $ | 875 |  |  | $ | 5,050 |
Expense | 9,037 |  |  | 5,251 |  |  | 2,711 |  |  | 16,999 |
Payments / utilization | (3,235) |  |  | — |  |  | (2,499) |  |  | (5,734) |
Other non-cash adjustments | — |  |  | (5,251) |  |  | (212) |  |  | (5,463) |
Foreign currency adjustments | (40) |  |  | — |  |  | — |  |  | (40) |
Ending Balance | $ | 9,937 |  |  | $ | — |  |  | $ | 875 |  |  | $ | 10,812 |
As of March 29, 2025 and December 28, 2024, $24.8 million and $25.3 million, respectively, of severance and other personnel related costs liabilities were included in accrued compensation and accrued liabilities within the Company’s unaudited condensed consolidated balance sheets.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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