RESTRUCTURING AND ASSET IMPAIRMENTS

3 Months Ended

Mar. 29, 2025

Restructuring and Related Activities [Abstract]

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.