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Equity
 6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Equity Equity
Movements in the Company’s number of shares in issue for the six months ended June 28, 2025 and June 29, 2024, respectively, were as follows:
Six months ended
(number of shares)
June 28,
2025		June 29,
2024
Balance as of the beginning of the period255,203,987 264,259,788 
Exercise of share options1,866,110 635,615 
Vesting of restricted stock units, net of withholding taxes1,050,897 857,681 
Shares repurchased and cancelled(672,911)(4,151,100)
Balance as of the end of the period257,448,083 261,601,984 
In February 2024, the Company’s Board approved a share repurchase program for up to $100.0 million in authorized share repurchases, with an expiration date of October 6, 2024. In February 2024, the Company repurchased 4,151,100 ordinary shares through Citigroup Global Markets Inc. (“Citi”) from selling shareholders affiliated with Blackstone Inc. (“Blackstone”) at a price of $12.045 per ordinary share for an aggregate consideration of approximately $50.0 million (the “February 2024 Repurchase”), plus costs paid directly related to the transaction of $0.3 million. This repurchase was funded by cash on hand. All shares repurchased pursuant to the February 2024 Repurchase were cancelled.
In July 2024, the Company’s Board cancelled the then existing share repurchase program and approved a new share repurchase program, providing for up to $250.0 million in share repurchases, which expires on December 31, 2025. In August 2024, the Company repurchased 7,539,203 ordinary shares through Citi from selling shareholders affiliated with Blackstone at a price of $16.58 per ordinary share for an aggregate consideration of approximately $125.0 million (the “August 2024 Repurchase”), plus costs paid directly related to the transaction of $0.8 million. This repurchase was funded by cash on hand and a borrowing of $40.0 million under Gates’ secured revolving credit facility. All shares repurchased pursuant to the August 2024 Repurchase were cancelled.
In March 2025, the Company repurchased 672,911 shares under the existing share repurchase program in the open market at a total cost of approximately $12.9 million, plus costs paid directly related to the transaction of $0.1 million. All shares repurchased were cancelled and approximately $112.1 million remained available under the share repurchase program as of June 28, 2025.