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SEGMENT AND GEOGRAPHIC INFORMATION
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
The Company operates in three reportable segments: RMS, DSA, and Manufacturing. The reportable segments comprise the structure used by the Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (CODM), to make key operating decisions and assess performance. These segments are strategic business units with differing products and services.
The Company’s CODM evaluates the segments operating performance based on operating income. Operating income is the measure of profit or loss regularly provided to and used by the CODM to assess performance and allocate resources. Operating income is defined as revenue less costs of revenue; selling, general, and administrative expenses; amortization of intangible assets; and goodwill impairments. For each segment, the CODM uses operating income in the annual budgeting and quarterly forecasting process when comparing to actual results. Asset information on a reportable segment basis is not disclosed as this information is not separately identified and internally reported to the Company’s CODM. The following table presents the results of operations by reportable segment:
Three Months Ended
March 29, 2025March 30, 2024
(in thousands)
RMS
Revenue$213,073 $220,907 
Cost of revenue (excluding amortization of intangible assets)139,296 140,925 
Selling, general and administrative24,206 30,893 
Amortization of intangible assets5,966 5,940 
Operating income$43,605 $43,149 
DSA
Revenue$592,609 $605,452 
Cost of revenue (excluding amortization of intangible assets)420,143 417,912 
Selling, general and administrative65,293 56,859 
Amortization of intangible assets13,221 15,842 
Operating income$93,952 $114,839 
Manufacturing
Revenue$178,486 $185,201 
Cost of revenue (excluding amortization of intangible assets)106,997 107,880 
Selling, general and administrative34,032 32,847 
Amortization of intangible assets46,077 10,793 
Operating income (loss)$(8,620)$33,681 
Unallocated Corporate (1)
Selling, general and administrative$54,268 $65,692 
Operating loss$(54,268)$(65,692)
(1) Operating income for unallocated corporate consists of costs associated with departments such as senior executives, corporate accounting, legal, tax, human resources, treasury, and investor relations.
Three Months Ended
March 29, 2025March 30, 2024
(in thousands)
Revenue
RMS$213,073 $220,907 
DSA592,609 605,452 
Manufacturing178,486 185,201 
Total revenue$984,168 $1,011,560 
Operating Income (Loss)
RMS$43,605 $43,149 
DSA93,952 114,839 
Manufacturing(8,620)33,681 
Segment operating income128,937 191,669 
Unallocated Corporate(54,268)(65,692)
Operating income$74,669 $125,977 
Other income (expense):
Interest income1,404 2,202 
Interest expense(27,884)(35,001)
Other income (expense), net(12,211)5,833 
Income before income taxes$35,978 $99,011 

Capital expenditures and depreciation and amortization (related to both intangible assets and certain assets acquired in business combinations) by reportable segment are as follows:
RMSDSAManufacturingUnallocated CorporateConsolidated
(in thousands)
Capital Expenditures
Three Months Ended:
March 29, 2025$7,286 $34,521 $17,279 $238 $59,324 
March 30, 202420,044 48,959 8,862 1,279 79,144 
Depreciation and amortization (1)
Three Months Ended:
March 29, 2025$21,761 $42,084 $54,623 $1,896 $120,364 
March 30, 202418,123 45,789 19,805 1,640 85,357 
(1) Depreciation and amortization includes both inventory step up amortization expense and biological assets amortization expense.
Revenue represents sales originating in entities physically located in the identified geographic area. Revenue by geographic area is as follows:
U.S.EuropeCanadaAsia Pacific
Other (1)
Consolidated
(in thousands)
Three Months Ended:
March 29, 2025$536,955 $263,250 $125,353 $41,942 $16,668 $984,168 
March 30, 2024562,317 276,319 110,401 45,772 16,751 1,011,560 
(1) The Other category represents operations located in Brazil, Israel, and Mauritius.
Long-lived assets consist of property, plant, and equipment, net. Long-lived assets by geographic area are as follows:
U.S.EuropeCanadaAsia PacificOtherConsolidated
(in thousands)
Long-lived assets
March 29, 2025$908,579 $427,205 $148,614 $64,716 $37,955 $1,587,069 
December 28, 2024941,621 412,967 147,039 66,046 36,341 1,604,014