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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Segment results are as follows:
| For the Year Ended
(in thousands) | December 31, 2023 |  | December 31, 2022 |  | December 25, 2021
Net Sales: |  |  |  |  |
Light Duty | $ | 1,462,474 |  |  | $ | 1,425,892 |  |  | $ | 1,247,465 |
Heavy Duty | 256,913 |  |  | 258,215 |  |  | 97,784 |
Specialty Vehicle | 210,401 |  |  | 49,642 |  |  | — |
Total | $ | 1,929,788 |  |  | $ | 1,733,749 |  |  | $ | 1,345,249 |
Income from operations: |  |  |  |  |
Light Duty | 187,159 |  |  | 169,579 |  |  | 182,020 |
Heavy Duty | 14,505 |  |  | 29,738 |  |  | 10,942 |
Specialty Vehicle | 31,618 |  |  | 8,537 |  |  | — |
Total | $ | 233,282 |  |  | $ | 207,854 |  |  | $ | 192,962 |
Depreciation: |  |  |  |  |
Light Duty | $ | 25,239 |  |  | $ | 25,062 |  |  | $ | 25,296 |
Heavy Duty | 3,239 |  |  | 2,772 |  |  | 1,034 |
Specialty Vehicle | 3,420 |  |  | 798 |  |  | — |
Total | $ | 31,898 |  |  | $ | 28,632 |  |  | $ | 26,330 |
Capital Expenditures: |  |  |  |  |
Light Duty | $ | 33,445 |  |  | $ | 31,682 |  |  | $ | 19,016 |
Heavy Duty | 3,581 |  |  | 4,769 |  |  | 824 |
Specialty Vehicle | 6,942 |  |  | 1,432 |  |  | — |
Total | $ | 43,968 |  |  | $ | 37,883 |  |  | $ | 19,840 |
Segment Assets: |  |  |  |  |
Light Duty | $ | 1,083,347 |  |  | $ | 1,047,987 |  |  | $ | 988,371 |
Heavy Duty | 162,583 |  |  | 177,557 |  |  | 131,245 |
Specialty Vehicle | 78,424 |  |  | 106,219 |  |  | — |
Total | $ | 1,324,354 |  |  | $ | 1,331,763 |  |  | $ | 1,119,616 |
Reconciliation of Operating Income from Segments to Consolidated | A reconciliation of segment adjusted operating income to consolidated income before taxes is as follows:
| For the Year Ended
(in thousands) | December 31, 2023 |  | December 31, 2022 |  | December 25, 2021
Segment income from operations | $ | 233,282 |  |  | $ | 207,854 |  |  | $ | 192,962 |
Acquisition-related intangible assets amortization | (21,817) |  |  | (14,070) |  |  | (6,340) |
Acquisition-related transaction and other costs | (15,373) |  |  | (22,736) |  |  | (15,071) |
Fair value adjustment to contingent consideration | 20,469 |  |  | — |  |  | — |
Executive transition services expenses | (1,801) |  |  | — |  |  | — |
Interest expense, net | (48,061) |  |  | (15,582) |  |  | (2,162) |
Other income, net | 1,804 |  |  | 735 |  |  | 377 |
Consolidated income before income taxes | $ | 168,503 |  |  | $ | 156,201 |  |  | $ | 169,766 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of segment assets to consolidated assets is as follows:
| For the Year Ended
(in thousands) | December 31, 2023 |  | December 31, 2022 |  | December 25, 2021
Segment assets | $ | 1,324,354 |  |  | $ | 1,331,763 |  |  | $ | 1,119,616 |
Other current assets | 69,468 |  |  | 85,834 |  |  | 71,830 |
Other non-current assets | 898,585 |  |  | 924,189 |  |  | 481,673 |
Consolidated assets | $ | 2,292,407 |  |  | $ | 2,341,786 |  |  | $ | 1,673,119 |

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