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Restructuring, Impairment, and Other Charges | 3 Months Ended
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Mar. 29, 2025
Restructuring and Related Activities [Abstract] |
Restructuring, Impairment, and Other Charges | Restructuring, Impairment, and Other Charges The Company recorded restructuring, impairment, and other charges for the three months ended March 29, 2025 and March 30, 2024 as follows:
| Three Months Ended March 29, 2025 |  |
(in thousands) | Electronics |  | Transportation |  | Industrial |  | Total |  |  |  |  |  |  |  |
Employee terminations | $ | 4,804 |  |  | $ | 3,132 |  |  | $ | 412 |  |  | $ | 8,348 |  |  |  |  |  |  |  |  |
Other restructuring charges | 511 |  |  | 23 |  |  | 1 |  |  | 535 |  |  |  |  |  |  |  |  |
Total restructuring charges | 5,315 |  |  | 3,155 |  |  | 413 |  |  | 8,883 |  |  |  |  |  |  |  |  |
Impairment | 136 |  |  | — |  |  | — |  |  | 136 |  |  |  |  |  |  |  |  |
Total | $ | 5,451 |  |  | $ | 3,155 |  |  | $ | 413 |  |  | $ | 9,019 |  |  |  |  |  |  |  |  |
| Three Months Ended March 30, 2024 |  |
(in thousands) | Electronics |  | Transportation |  | Industrial |  | Total |  |  |  |  |  |  |  |
Employee terminations | $ | 544 |  |  | $ | 1,190 |  |  | $ | 435 |  |  | $ | 2,169 |  |  |  |  |  |  |  |  |
Other restructuring charges | 52 |  |  | 78 |  |  | 5 |  |  | 135 |  |  |  |  |  |  |  |  |
Total restructuring charges | 596 |  |  | 1,268 |  |  | 440 |  |  | 2,304 |  |  |  |  |  |  |  |  |
Impairment | — |  |  | 933 |  |  | — |  |  | 933 |  |  |  |  |  |  |  |  |
Total | $ | 596 |  |  | $ | 2,201 |  |  | $ | 440 |  |  | $ | 3,237 |  |  |  |  |  |  |  |  |
2025 For the three months ended March 29, 2025, the Company recorded total restructuring charges of $8.9 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and corporate support functions for the semiconductor business within the Electronics segment, and across all businesses within the Transportation segment. In addition, during the first fiscal quarter of 2025, the Company recognized a $0.1 million impairment charge related to certain machinery and equipment within the Electronics segment. 2024 For the three months ended March 30, 2024, the Company recorded total restructuring charges of $2.3 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions within the Transportation segment’s commercial vehicle business, and the reorganization of certain selling and administrative functions within the Electronics and Industrial segments. In addition, during the first fiscal quarter of 2024, the Company recognized a $0.9 million impairment charge related to certain machinery and equipment in the commercial vehicle business within the Transportation segment. The restructuring reserves as of March 29, 2025 and December 28, 2024 were $7.0 million and $4.6 million, respectively. The restructuring liability is included within Accrued liabilities in the Condensed Consolidated Balance Sheets. The Company anticipates the remaining payments associated with employee terminations will primarily be completed during fiscal year 2025.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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