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Revenues (Tables) | 6 Months Ended
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Jun. 29, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables present our revenues disaggregated by major product category.
|  | Broadband Solutions |  | Automation Solutions |  | Smart Buildings Solutions |  | Total Revenues
Three Months Ended June 29, 2025 |  | (In thousands)
Smart Infrastructure Solutions |  | $ | 155,385 |  |  | $ | — |  |  | $ | 150,634 |  |  | $ | 306,019 |
Automation Solutions |  | — |  |  | 365,973 |  |  | — |  |  | 365,973 |
Total |  | $ | 155,385 |  |  | $ | 365,973 |  |  | $ | 150,634 |  |  | $ | 671,992 |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 136,020 |  |  | $ | — |  |  | $ | 134,453 |  |  | $ | 270,473 |
Automation Solutions |  | — |  |  | 333,863 |  |  | — |  |  | 333,863 |
Total |  | $ | 136,020 |  |  | $ | 333,863 |  |  | $ | 134,453 |  |  | $ | 604,336 |
Six Months Ended June 29, 2025 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 302,032 |  |  | $ | — |  |  | $ | 278,037 |  |  | $ | 580,069 |
Automation Solutions |  | — |  |  | 716,784 |  |  | — |  |  | 716,784 |
Total |  | $ | 302,032 |  |  | $ | 716,784 |  |  | $ | 278,037 |  |  | $ | 1,296,853 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 248,120 |  |  | $ | — |  |  | $ | 256,442 |  |  | $ | 504,562 |
Automation Solutions |  | — |  |  | 635,449 |  |  | — |  |  | 635,449 |
Total |  | $ | 248,120 |  |  | $ | 635,449 |  |  | $ | 256,442 |  |  | $ | 1,140,011 |
The following tables present our revenues disaggregated by geography, based on the location of the customer purchasing the product.
|  | Americas |  | EMEA |  | APAC |  | Total Revenues
Three Months Ended June 29, 2025 |  | (In thousands)
Smart Infrastructure Solutions |  | $ | 238,775 |  |  | $ | 42,999 |  |  | $ | 24,245 |  |  | $ | 306,019 |
Automation Solutions |  | 209,836 |  |  | 92,908 |  |  | 63,229 |  |  | 365,973 |
Total |  | $ | 448,611 |  |  | $ | 135,907 |  |  | $ | 87,474 |  |  | $ | 671,992 |
Three Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 200,904 |  |  | $ | 42,379 |  |  | $ | 27,190 |  |  | $ | 270,473 |
Automation Solutions |  | 198,884 |  |  | 83,017 |  |  | 51,962 |  |  | 333,863 |
Total |  | $ | 399,788 |  |  | $ | 125,396 |  |  | $ | 79,152 |  |  | $ | 604,336 |
Six Months Ended June 29, 2025 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 458,228 |  |  | $ | 82,303 |  |  | $ | 39,538 |  |  | $ | 580,069 |
Automation Solutions |  | 418,614 |  |  | 178,706 |  |  | 119,464 |  |  | 716,784 |
Total |  | $ | 876,842 |  |  | $ | 261,009 |  |  | $ | 159,002 |  |  | $ | 1,296,853 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |
Smart Infrastructure Solutions |  | $ | 367,233 |  |  | $ | 88,067 |  |  | $ | 49,262 |  |  | $ | 504,562 |
Automation Solutions |  | 381,774 |  |  | 160,873 |  |  | 92,802 |  |  | 635,449 |
Total |  | $ | 749,007 |  |  | $ | 248,940 |  |  | $ | 142,064 |  |  | $ | 1,140,011 |
Schedule of Contract with Customer, Asset and Liability | The following table presents estimated and accrued variable consideration:
|  | June 29, 2025 |  | December 31, 2024
|  | (in thousands)
Accrued rebates included in accrued liabilities |  | $ | 50,891 |  |  | $ | 51,063 |
Accrued returns included in accrued liabilities |  | 15,098 |  |  | 15,950 |
Price adjustments recognized against gross accounts receivable |  | 31,040 |  |  | 29,100 |
The following table presents deferred revenue activity during the three and six months ended June 29, 2025 and June 30, 2024, respectively:
|  | 2025 |  | 2024 |  |
|  | (In thousands)
Beginning balance at January 1 |  | $ | 40,128 |  |  | $ | 31,062 |  |  |
New deferrals |  | 13,735 |  |  | 6,280 |  |  |
Revenue recognized |  | (10,420) |  |  | (7,392) |  |  |
Balance at the end of Q1 |  | $ | 43,443 |  |  | $ | 29,950 |  |  |
New deferrals |  | 16,225 |  |  | 11,058 |  |  |
Revenue recognized |  | (14,062) |  |  | (11,395) |  |  |
Balance at the end of Q2 |  | $ | 45,606 |  |  | $ | 29,613 |  |  |
Schedule of Sales Commissions | The following table presents sales commissions that are recorded within selling, general and administrative expenses:
|  | Three Months Ended |  | Six Months Ended
|  | June 29, 2025 |  | June 30, 2024 |  | June 29, 2025 |  | June 30, 2024
|  | (In thousands)
Sales commissions |  | $ | 7,367 |  |  | $ | 5,848 |  |  | $ | 13,353 |  |  | $ | 11,171 |

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