XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.26.1

Segment Information (Tables) | 6 Months Ended
--- | ---
Jul. 03, 2026
Segment Reporting [Abstract] |
Segment Reporting | The Com pany’s segment results were as follows:
| Three Months Ended |  | Six Months Ended
| July 3, 2026 |  | July 4, 2025 |  | July 3, 2026 |  | July 4, 2025
| (In thousands)
Net sales: |  |  |  |  |
Americas | $ | 315,884 |  |  | $ | 282,729 |  |  | $ | 604,249 |  |  | $ | 563,394 |
EMEA & APAC | 491,743 |  |  | 432,857 |  |  | 948,975 |  |  | 830,330 |
| $ | 807,627 |  |  | $ | 715,586 |  |  | $ | 1,553,224 |  |  | $ | 1,393,724 |
Cost of sales: |  |  |  |  |  |  |
Americas | $ | 189,542 |  |  | $ | 171,558 |  |  | $ | 366,412 |  |  | $ | 342,166 |
EMEA & APAC | 310,874 |  |  | 277,981 |  |  | 604,489 |  |  | 530,309 |
| $ | 500,416 |  |  | $ | 449,539 |  |  | $ | 970,901 |  |  | $ | 872,475 |
Allocated operating expense: |  |  |  |  |  |  |
Americas | $ | 15,286 |  |  | $ | 10,077 |  |  | $ | 28,756 |  |  | $ | 27,517 |
EMEA & APAC | 23,795 |  |  | 24,365 |  |  | 45,147 |  |  | 51,159 |
| $ | 39,081 |  |  | $ | 34,442 |  |  | $ | 73,903 |  |  | $ | 78,676 |
Other operating expense: |  |  |  |  |
Americas | $ | 47,021 |  |  | $ | 44,331 |  |  | $ | 89,041 |  |  | $ | 82,428 |
EMEA & APAC | 69,728 |  |  | 43,776 |  |  | 131,447 |  |  | 82,747 |
| $ | 116,749 |  |  | $ | 88,107 |  |  | $ | 220,488 |  |  | $ | 165,175 |
Adjusted EBITDA(1): |  |  |  |  |  |  |
Americas | $ | 64,035 |  |  | $ | 56,763 |  |  | $ | 120,040 |  |  | $ | 111,283 |
EMEA & APAC | 87,338 |  |  | 86,735 |  |  | 167,892 |  |  | 166,115 |
| $ | 151,373 |  |  | $ | 143,498 |  |  | $ | 287,932 |  |  | $ | 277,398 |
Depreciation, amortization and other impairment charges: |  |  |  |  |  |  |
Americas | $ | 12,934 |  |  | $ | 8,644 |  |  | $ | 21,607 |  |  | $ | 16,848 |
EMEA & APAC | 14,934 |  |  | 10,711 |  |  | 30,129 |  |  | 19,998 |
| $ | 27,868 |  |  | $ | 19,355 |  |  | $ | 51,736 |  |  | $ | 36,846 |
Capital expenditures: |  |  |  |  |  |  |
Americas | $ | 7,227 |  |  | $ | 4,381 |  |  | $ | 11,619 |  |  | $ | 8,116 |
EMEA & APAC | 10,518 |  |  | 4,799 |  |  | 19,829 |  |  | 8,358 |
| $ | 17,745 |  |  | $ | 9,180 |  |  | $ | 31,448 |  |  | $ | 16,474 |
(1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA.
| Three Months Ended |  | Six Months Ended
| July 3, 2026 |  | July 4, 2025 |  | July 3, 2026 |  | July 4, 2025
| (In thousands)
Net income from continuing operations | $ | 36,401 |  |  | $ | 69,812 |  |  | $ | 88,192 |  |  | $ | 142,376 |
Income tax expense | 11,701 |  |  | 18,283 |  |  | 24,812 |  |  | 38,782 |
Interest expense and other, net | 30,623 |  |  | 20,999 |  |  | 56,200 |  |  | 37,781 |
Restructuring and other related charges(1) | 18,317 |  |  | 1,390 |  |  | 28,478 |  |  | 5,889 |
Acquisition - amortization and other related charges(2) | 41,308 |  |  | 21,592 |  |  | 64,102 |  |  | 31,193 |
Depreciation and other amortization | 12,335 |  |  | 11,422 |  |  | 25,460 |  |  | 21,377 |
Performance option awards compensation expense(3) | 688 |  |  | — |  |  | 688 |  |  | — |
Adjusted EBITDA | $ | 151,373 |  |  | $ | 143,498 |  |  | $ | 287,932 |  |  | $ | 277,398 |
(1) I ncludes severance and other termination benefits, including outplacement services, as well as the cost of relocating associates, relocating equipment, lease termination expenses, impairment of long-lived assets, costs associated with disposing of discontinued products and other costs in connection with the closure and optimization of facilities and product lines. (2) Includes transaction, diligence and integration expenses totaling $24.8 million and $35.1 million for the three and six months ended July 3, 2026, respectively, and $12.8 million and $14.2 million for the three and six months ended July 4, 2025, respectively. Additionally, it includes amortization of intangibles and fair value step up on acquired inventories totaling $16.5 million and $29.0 million for the three and six months ended July 3, 2026, respectively, and $8.8 million and $17.0 million for the three and six months ended July 4, 2025, respectively. (3) Represents the impact of the Performance Option Awards granted in June and July 2026. These awards were non-cash, one-time, non-recurring grants with a different structure and size than the Company’s annual equity compensation program. Refer to Note 12, “Equity” for further details on these awards. The Com pany’s investments in equity method investees and total assets by segment were as follows:
| July 3, 2026 |  | December 31, 2025
| (In thousands)
Investments in equity method investees: |
Americas | $ | — |  |  | $ | — |
EMEA & APAC | 25,723 |  |  | 29,558 |
| $ | 25,723 |  |  | $ | 29,558 |
Total assets: |  |  |
Americas | $ | 3,169,393 |  |  | $ | 1,717,390 |
EMEA & APAC | 3,393,218 |  |  | 3,048,704 |
| $ | 6,562,611 |  |  | $ | 4,766,094 |
The Com pany’s property, plant and equipment, net by geography were as follows:
| July 3, 2026 |  | December 31, 2025
| (In thousands)
Property, plant and equipment, net(1): |  |  |
United States | $ | 72,020 |  |  | $ | 72,617 |
Czech Republic | 72,862 |  |  | 75,028 |
Germany | 45,409 |  |  | 48,245 |
India | 30,897 |  |  | 31,437 |
Mexico | 26,365 |  |  | 23,464 |
Other foreign countries | 142,295 |  |  | 131,085 |
| $ | 389,848 |  |  | $ | 381,876 |
(1) As the Company does not allocate all long-lived assets, specifically intangible assets, to each individual country, evaluation of long-lived assets in total is impracticable.

X
- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration