RESTRUCTURING AND ASSET IMPAIRMENTS

6 Months Ended

Jun. 28, 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				Six Months Ended
	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
	(in thousands)
RMS	$	7,419	$	10,228	$	8,843	$	17,615
DSA	16,076		3,766		33,618		10,257
Manufacturing	7,444		2,657		11,155		4,288
Unallocated corporate	1,261		1,304		2,429		2,794
Total	$	32,200	$	17,955	$	56,045	$	34,954

The following table presents restructuring costs as included within the Company’s unaudited condensed consolidated statements of income:


	June 28, 2025						June 29, 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)	$	(1,308)	$	26,451	$	25,143	$	2,870	$	1,926	$	4,796
Cost of products sold (excluding amortization of intangible assets)	(95)		1,425		1,330		69		9,154		9,223
Selling, general and administrative	5,130		597		5,727		2,958		978		3,936
Total restructuring costs	$	3,727	$	28,473	$	32,200	$	5,897	$	12,058	$	17,955

Six Months Ended
Cost of services provided (excluding amortization of intangible assets)	$	6,390	$	39,624	$	46,014	$	7,680	$	3,034	$	10,714
Cost of products sold (excluding amortization of intangible assets)	168		2,658		2,826		747		10,484		11,231
Selling, general and administrative	5,583		1,622		7,205		6,507		6,502		13,009
Total restructuring costs	$	12,141	$	43,904	$	56,045	$	14,934	$	20,020	$	34,954

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)
Six Months Ended June 28, 2025
Beginning balance	$	24,469	$	—	$	875	$	25,344
Expense	12,141		31,062		12,842		56,045
Payments / utilization	(20,020)		—		(12,458)		(32,478)
Other non-cash adjustments	—		(31,062)		(1,259)		(32,321)
Foreign currency adjustments	474		—		—		474
Ending Balance	$	17,064	$	—	$	—	$	17,064

Six Months Ended June 29, 2024
Beginning balance	$	4,175	$	—	$	875	$	5,050
Expense	14,934		14,181		5,839		34,954
Payments / utilization	(9,323)		—		(5,067)		(14,390)
Other non-cash adjustments	—		(14,181)		(772)		(14,953)
Foreign currency adjustments	(57)		—		—		(57)
Ending Balance	$	9,729	$	—	$	875	$	10,604

As of June 28, 2025 and December 28, 2024, $17.1 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.