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Segment Information (Tables) | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Segment information is summarized as follows:
|  | Three Months Ended |  |
(in thousands) |  | April 1, 2023 |  | April 2, 2022 |  |  |  |
Net sales |  |  |  |  |  |  |  |
Electronics |  | $ | 358,593 |  |  | $ | 365,821 |  |  |  |  |
Transportation |  | 166,641 |  |  | 184,504 |  |  |  |  |
Industrial |  | 84,548 |  |  | 73,005 |  |  |  |  |
Total net sales |  | $ | 609,782 |  |  | $ | 623,330 |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |
Electronics |  | $ | 19,788 |  |  | $ | 15,393 |  |  |  |  |
Transportation |  | 11,291 |  |  | 10,744 |  |  |  |  |
Industrial |  | 3,403 |  |  | 2,161 |  |  |  |  |
Total depreciation and amortization |  | $ | 34,482 |  |  | $ | 28,298 |  |  |  |  |
Operating income |  |  |  |  |  |  |  |
Electronics |  | $ | 90,162 |  |  | $ | 120,577 |  |  |  |  |
Transportation |  | 8,532 |  |  | 26,308 |  |  |  |  |
Industrial |  | 17,141 |  |  | 12,505 |  |  |  |  |
Other (a) |  | (5,194) |  |  | (8,800) |  |  |  |  |
Total operating income |  | 110,641 |  |  | 150,590 |  |  |  |  |
Interest expense |  | 9,646 |  |  | 4,302 |  |  |  |  |
Foreign exchange (gain) loss |  | (1,675) |  |  | 7,736 |  |  |  |  |
Other (income) expense, net |  | (6,233) |  |  | 4,427 |  |  |  |  |
Income before income taxes |  | $ | 108,903 |  |  | $ | 134,125 |  |  |  |  |
(a) Included in “Other” Operating income for the first quarter of 2023 was $3.3 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $1.9 million of restructuring, impairment and other charges, primarily related to employee termination costs. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion. Included in “Other” Operating income for the first quarter of 2022 was $4.8 million of purchase accounting inventory step-up charges, $3.8 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $0.2 million of restructuring, impairment and other charges, primarily related to employee termination costs. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion.
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country | The Company’s net sales by country were as follows:
|  | Three Months Ended |  |
(in thousands) |  | April 1, 2023 |  | April 2, 2022 |  |  |  |
Net sales |  |  |  |  |  |  |  |
United States |  | $ | 212,195 |  |  | $ | 220,238 |  |  |  |  |
China |  | 133,467 |  |  | 164,782 |  |  |  |  |
Other countries (a) |  | 264,120 |  |  | 238,310 |  |  |  |  |
Total net sales |  | $ | 609,782 |  |  | $ | 623,330 |  |  |  |  |
The Company’s long-lived assets by country were as follows:
(in thousands) |  | April 1, 2023 |  | December 31, 2022
Long-lived assets |  |  |  |
United States |  | $ | 77,246 |  |  | $ | 76,325 |
China |  | 135,233 |  |  | 129,094 |
Mexico |  | 107,427 |  |  | 107,119 |
Germany |  | 41,049 |  |  | 39,635 |
Philippines |  | 77,314 |  |  | 77,240 |
Other countries (a) |  | 54,099 |  |  | 51,697 |
Total long-lived assets |  | $ | 492,368 |  |  | $ | 481,110 |
The Company’s additions to long-lived assets by country were as follows:
|  | Three Months Ended
(in thousands) |  | April 1, 2023 |  | April 2, 2022
Additions to long-lived assets |  |  |  |
United States |  | $ | 4,091 |  |  | $ | 3,174 |
China |  | 8,403 |  |  | 6,949 |
Mexico |  | 3,744 |  |  | 7,918 |
Germany |  | 1,234 |  |  | 918 |
Philippines |  | 1,398 |  |  | 6,970 |
Other countries(a) |  | 2,593 |  |  | 1,561 |
Total additions to long-lived assets |  | $ | 21,463 |  |  | $ | 27,490 |
(a)Each country included in other countries is less than 10% of net sales.

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