RESTRUCTURING AND ASSET IMPAIRMENTS

9 Months Ended

Sep. 27, 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				Nine Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
	(in thousands)
RMS	$	5,824	$	4,965	$	14,667	$	22,580
DSA	4,530		13,866		38,148		24,123
Manufacturing	2,635		5,372		13,790		9,660
Unallocated corporate	4,294		6,443		6,723		9,237
Total	$	17,283	$	30,646	$	73,328	$	65,600

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


	September 27, 2025						September 28, 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)	$	1,349	$	10,015	$	11,364	$	12,830	$	3,482	$	16,312
Cost of products sold (excluding amortization of intangible assets)	279		1,696		1,975		1,783		650		2,433
Selling, general and administrative	3,168		776		3,944		11,923		(22)		11,901
Total restructuring costs	$	4,796	$	12,487	$	17,283	$	26,536	$	4,110	$	30,646

Nine Months Ended
Cost of services provided (excluding amortization of intangible assets)	$	7,739	$	49,639	$	57,378	$	20,510	$	6,516	$	27,026
Cost of products sold (excluding amortization of intangible assets)	447		4,354		4,801		2,530		11,134		13,664
Selling, general and administrative	8,751		2,398		11,149		18,430		6,480		24,910
Total restructuring costs	$	16,937	$	56,391	$	73,328	$	41,470	$	24,130	$	65,600

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)
Nine Months Ended September 27, 2025
Beginning balance	$	24,469	$	—	$	875	$	25,344
Expense	16,937		36,481		19,910		73,328
Payments / utilization	(27,398)		—		(19,067)		(46,465)
Other non-cash adjustments	—		(36,481)		(1,718)		(38,199)
Foreign currency adjustments	436		—		—		436
Ending Balance	$	14,444	$	—	$	—	$	14,444

Nine Months Ended September 28, 2024
Beginning balance	$	4,175	$	—	$	875	$	5,050
Expense	41,470		15,999		8,131		65,600
Payments / utilization	(17,920)		—		(6,762)		(24,682)
Other non-cash adjustments	—		(15,999)		(1,369)		(17,368)
Foreign currency adjustments	57		—		—		57
Ending Balance	$	27,782	$	—	$	875	$	28,657

As of September 27, 2025 and December 28, 2024, $14.4 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.