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Restructuring, Acquisition, and Related Costs | 3 Months Ended
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Mar. 28, 2025
Restructuring and Related Activities [Abstract] |
Restructuring, Acquisition, and Related Costs | 13. Restructuring, Acquisition, and Related Costs The following table summarizes restructuring, acquisition, and related costs in the accompanying consolidated statements of operations (in thousands):
| Three Months Ended |
| March 28, |  |  | March 29, |
| 2025 |  |  | 2024 |
2024 restructuring | $ | 590 |  |  | $ | 548 |
2020 restructuring |  | (3,595 | ) |  |  | — |
Total restructuring charges |  | (3,005 | ) |  |  | 548 |
Acquisition and related charges |  | 550 |  |  |  | 1,735 |
Total restructuring, acquisition, and related costs | $ | (2,455 | ) |  | $ | 2,283 |
2024 Restructuring As a result of the Company’s acquisitions and ongoing integration activities, the Company initiated the 2024 restructuring program in the first quarter of 2024 in order to reduce operating complexity. During the three months ended March 28, 2025, the Company recorded $0.6 million in severance, facility related and other charges in connection with the 2024 restructuring program. As of March 28, 2025, the Company had incurred cumulative costs of $11.1 million related to this restructuring progra m. The Company anticipates substantially completing the 2024 restructuring program by the end of 2025 and expects to incur additional restructuring charges of $5.0 million to $6.0 million related to the 2024 restructuring program. The following table summarizes restructuring costs associated with the 2024 restructuring program by reportable segment (in thousands):
| Three Months Ended |
| March 28, |  |  | March 29, |
| 2025 |  |  | 2024 |
Automation Enabling Technologies | $ | 486 |  |  | $ | 279 |
Medical Solutions |  | 82 |  |  |  | 206 |
Unallocated |  | 22 |  |  |  | 63 |
Total | $ | 590 |  |  | $ | 548 |
2020 Restructuring As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program was focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program was focused on cost reduction actions to improve gross margins for the overall company. As of March 28, 2025, the Company had incurred cumulative costs of $13.1 million related to the 2020 restructuring program. The 2020 restructuring program activities were completed in the fourth quarter of 2023. In January 2025, the Company sold a facility from the 2020 restructuring program and recorded a $3.6 million gain in the Company’s Automation Enabling Technologies segment. Roll-forward of Accrued Expenses Related to Restructuring The following table summarizes the accrual activities, by component, related to the Company’s restructuring plans recorded in the accompanying consolidated balance sheets (in thousands):
| Total |  |  | Employee Related |  |  | Facility Related |  |  | Facility Sale |  |  | Other |
Balance at December 31, 2024 | $ | 6,751 |  |  | $ | 5,690 |  |  | $ | 1,061 |  |  | $ | — |  |  | $ | — |
Restructuring charges |  | (3,005 | ) |  |  | (107 | ) |  |  | 719 |  |  |  | (4,325 | ) |  |  | 708 |
Cash payments |  | 4,444 |  |  |  | (581 | ) |  |  | (147 | ) |  |  | 5,537 |  |  |  | (365 | )
Non-cash write-offs and other adjustments |  | (1,679 | ) |  |  | 162 |  |  |  | (629 | ) |  |  | (1,212 | ) |  |  | — |
Balance at March 28, 2025 | $ | 6,511 |  |  | $ | 5,164 |  |  | $ | 1,004 |  |  | $ | — |  |  | $ | 343 |
Acquisition and Related Charges Acquisition costs in connection with business combinations, including finders’ fees, legal, valuation, and other professional or consulting fees, totaled $0.6 million for three months ended March 28, 2025, and $1.7 million for the three months ended March 29, 2024. The majority of acquisition and related costs for the three months ended March 28, 2025 and the three months ended March 29, 2024 were included in unallocated costs.

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- Definition The entire disclosure for restructuring related activities and acquisition charges. Description of restructuring activities and acquisition related charges incurred during the presentation periods. + References No definition available. + Details
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- References No definition available. + Details
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