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v3.25.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | Reportable segment information is presented in the following table:
(In thousands) | Americas |  | International |  | Corporate |  | Reconciling Items(a) |  | Consolidated Totals
Three Months Ended March 31, 2025 |  |  |  |  |  |  |  |  |
Net sales to external customers | $ | 293,160 |  |  | $ | 128,180 |  |  | $ | — |  |  |  |  | $ | 421,340 |
Less: |  |  |  |  |  |  |  |  |
Cost of products sold | 154,180 |  |  | 71,479 |  |  | — |  |  | — |  |  |
Selling, general and administrative | 50,918 |  |  | 31,693 |  |  | 9,899 |  |  | — |  |  |
Research and development | 9,369 |  |  | 6,300 |  |  | — |  |  | — |  |  |
Adjusted operating income (loss) | 78,693 |  |  | 18,708 |  |  | (9,899) |  |  | — |  |  | 87,502 |
Noncash items: |  |  |  |  |  |  |  |  |
Depreciation and amortization | 11,517 |  |  | 4,505 |  |  | 229 |  |  | $ | — |  |  | 16,251 |
Pension (income) expense | (4,695) |  |  | 847 |  |  | — |  |  | — |  |  | (3,848) |
Total Assets | 1,481,750 |  |  | 699,029 |  |  | 57,700 |  |  | (2,594) |  |  | 2,235,885 |
Capital expenditures | 8,791 |  |  | 1,850 |  |  | 143 |  |  | — |  |  | 10,784 |
Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |  |
Net sales to external customers | $ | 295,539 |  |  | $ | 117,763 |  |  | $ | — |  |  |  |  | $ | 413,302 |
Less: |  |  |  |  |  |  |  |  |
Cost of products sold | 147,877 |  |  | 67,557 |  |  | 23 |  |  | — |  |  |
Selling, general and administrative | 51,925 |  |  | 30,321 |  |  | 11,672 |  |  | — |  |  |
Research and development | 9,519 |  |  | 6,399 |  |  | — |  |  | — |  |  |
Adjusted operating income (loss) | 86,218 |  |  | 13,486 |  |  | (11,695) |  |  | — |  |  | 88,009 |
Noncash items: |  |  |  |  |  |  |  |  |
Depreciation and amortization | 11,273 |  |  | 4,075 |  |  | 211 |  |  | $ | — |  |  | 15,559 |
Pension (income) expense | (3,258) |  |  | 1,050 |  |  | — |  |  | — |  |  | (2,208) |
Total Assets | 1,461,565 |  |  | 714,276 |  |  | (2,092) |  | (b) | 581 |  |  | 2,174,330 |
Capital expenditures | 6,554 |  |  | 4,066 |  |  | 599 |  |  | — |  |  | 11,219 |
(a)Reconciling items consist primarily of intercompany eliminations and items not directly attributable to operating segments. (b)Negative Corporate segment assets driven primarily by bank overdrafts under our notional cash pooling arrangement. Refer to Note 3—Cash and Cash Equivalents for further details.
A reconciliation of total Adjusted operating income from reportable segments to Income before income taxes is presented in the following table:
|  | Three Months Ended March 31, |  |
(In thousands) |  | 2025 |  | 2024 |  |  |  |
Adjusted operating income |  | $ | 87,502 |  | $ | 88,009 |  |  |  |
Less: |  |  |  |  |  |  |  |
Restructuring charges (Note 4) |  | 1,924 |  | 3,017 |  |  |  |
Currency exchange losses, net |  | 4,076 |  | 2,333 |  |  |  |
Interest expense |  | 6,835 |  | 10,740 |  |  |  |
Other income, net |  | (7,023) |  | (6,235) |  |  |  |
Amortization of acquisition-related intangible assets |  | 2,286 |  | 2,314 |  |  |  |
Transaction costs(a) |  | 1,455 |  | 233 |  |  |  |
Income before income taxes |  | $ | 77,949 |  | $ | 75,607 |  |  |  |
(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred in connection with acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income.
Percentage of Total Sales by Product Group | Total sales by product group was as follows:
Three Months Ended March 31, 2025 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars |  | Percent |  | Dollars |  | Percent |  | Dollars |  | Percent
Fire Service (a) | $ | 150,616 |  |  | 36% |  | $ | 105,907 |  |  | 36% |  | $ | 44,709 |  |  | 35%
Detection (b) | 161,070 |  |  | 38% |  | 109,891 |  |  | 37% |  | 51,179 |  |  | 40%
Industrial PPE and Other (c) | 109,654 |  |  | 26% |  | 77,362 |  |  | 27% |  | 32,292 |  |  | 25%
Total | $ | 421,340 |  |  | 100% |  | $ | 293,160 |  |  | 100% |  | $ | 128,180 |  |  | 100%
Three Months Ended March 31, 2024 | Consolidated |  | Americas |  | International
(In thousands, except percentages) | Dollars |  | Percent |  | Dollars |  | Percent |  | Dollars |  | Percent
Fire Service (a) | $ | 163,694 |  |  | 40% |  | $ | 122,252 |  |  | 41% |  | $ | 41,442 |  |  | 35%
Detection (b) | 139,216 |  |  | 34% |  | 96,295 |  |  | 33% |  | 42,921 |  |  | 36%
Industrial PPE and Other (c) | 110,392 |  |  | 26% |  | 76,992 |  |  | 26% |  | 33,400 |  |  | 29%
Total | $ | 413,302 |  |  | 100% |  | $ | 295,539 |  |  | 100% |  | $ | 117,763 |  |  | 100%
(a) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel. (b) Detection includes Fixed Gas and Flame Detection and Portable Gas detection. (c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and Non-Core.

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