XML 61 R46.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 29, 2024
Segment Reporting [Abstract] |
Reconciliation of Operating Income (Loss) to Income Before Income Tax Expense and Segment AOI | The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for fiscal years 2024, 2023, and 2022.
|  | Fiscal Year
|  | 2024 |  | 2023 |  | 2022
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  |  |  |  |  | (in thousands) |  |  |  |
Net sales |  | $ | 800,811 |  | $ | 514,847 |  | $ | 1,315,658 |  |  | $ | 736,955 |  | $ | 524,543 |  | $ | 1,261,498 |  |  | $ | 753,740 |  | $ | 544,179 |  | $ | 1,297,919 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 494,185 |  | 333,353 |  |  |  | 458,708 |  | 356,591 |  |  |  | 473,761 |  | 374,106 |  |
Adjusted selling, general, & administrative expenses(3) |  | 200,032 |  | 146,691 |  |  |  | 190,458 |  | 139,344 |  |  |  | 177,609 |  | 140,015 |  |
Segment AOI |  | 106,594 |  | 34,803 |  | 141,397 |  |  | 87,789 |  | 28,608 |  | 116,397 |  |  | 102,370 |  | 30,058 |  | 132,428 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 2,530 |  |  |  |  | 5,631 |  |  |  |  | 8,189 |
Purchasing accounting amortization |  |  |  | 5,172 |  |  |  |  | 5,172 |  |  |  |  | 5,038 |
Cyber Event impact |  |  |  | (711) |  |  |  |  | 1,072 |  |  |  |  | 5,093 |
Goodwill & intangible asset impairment |  |  |  | — |  |  |  |  | — |  |  |  |  | 36,180 |
Thailand plant inventory write down |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,530 |
Interest expense |  |  |  | 23,205 |  |  |  |  | 31,787 |  |  |  |  | 29,929 |
Other (income) expense, net |  |  |  | (2,353) |  |  |  |  | 9,081 |  |  |  |  | 3,552 |
Income before taxes |  |  |  | $ | 113,554 |  |  |  |  | $ | 63,654 |  |  |  |  | $ | 41,917 |
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded. (2) Adjusted cost of sales excludes purchase accounting amortization, the Cyber Event impact, and Thailand plant inventory write down. (3) Adjusted selling, general, and administrative expenses exclude the cyber event impact and restructuring, asset impairment, severance, and other, net.
Segment, Reconciliation of Other Items from Segments to Consolidated | The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for fiscal years 2024, 2023, and 2022.
|  | Fiscal Year
|  | 2024 |  | 2023 |  | 2022
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  |  |  |  |  | (in thousands) |  |  |  |
Net sales |  | $ | 800,811 |  | $ | 514,847 |  | $ | 1,315,658 |  |  | $ | 736,955 |  | $ | 524,543 |  | $ | 1,261,498 |  |  | $ | 753,740 |  | $ | 544,179 |  | $ | 1,297,919 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 494,185 |  | 333,353 |  |  |  | 458,708 |  | 356,591 |  |  |  | 473,761 |  | 374,106 |  |
Adjusted selling, general, & administrative expenses(3) |  | 200,032 |  | 146,691 |  |  |  | 190,458 |  | 139,344 |  |  |  | 177,609 |  | 140,015 |  |
Segment AOI |  | 106,594 |  | 34,803 |  | 141,397 |  |  | 87,789 |  | 28,608 |  | 116,397 |  |  | 102,370 |  | 30,058 |  | 132,428 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 2,530 |  |  |  |  | 5,631 |  |  |  |  | 8,189 |
Purchasing accounting amortization |  |  |  | 5,172 |  |  |  |  | 5,172 |  |  |  |  | 5,038 |
Cyber Event impact |  |  |  | (711) |  |  |  |  | 1,072 |  |  |  |  | 5,093 |
Goodwill & intangible asset impairment |  |  |  | — |  |  |  |  | — |  |  |  |  | 36,180 |
Thailand plant inventory write down |  |  |  | — |  |  |  |  | — |  |  |  |  | 2,530 |
Interest expense |  |  |  | 23,205 |  |  |  |  | 31,787 |  |  |  |  | 29,929 |
Other (income) expense, net |  |  |  | (2,353) |  |  |  |  | 9,081 |  |  |  |  | 3,552 |
Income before taxes |  |  |  | $ | 113,554 |  |  |  |  | $ | 63,654 |  |  |  |  | $ | 41,917 |
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded. (2) Adjusted cost of sales excludes purchase accounting amortization, the Cyber Event impact, and Thailand plant inventory write down. (3) Adjusted selling, general, and administrative expenses exclude the cyber event impact and restructuring, asset impairment, severance, and other, net.
Schedule of Operating Segment Information | Segment depreciation and amortization for 2024, 2023 and 2022 is presented in the table below:
| Fiscal Year
| 2024 |  | 2023 |  | 2022
| (in thousands)
Depreciation and amortization |  |  |  |  |
AMS | $ | 17,804 |  |  | $ | 17,989 |  |  | $ | 16,827 |
EAAA | 21,529 |  |  | 22,785 |  |  | 23,510 |
Total depreciation and amortization | $ | 39,333 |  |  | $ | 40,774 |  |  | $ | 40,337 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
| End of Fiscal Year
| 2024 |  | 2023
| (in thousands)
Assets |  |  |
AMS | $ | 644,085 |  |  | $ | 627,782 |
EAAA | 587,639 |  |  | 630,939 |
Total segment assets | 1,231,724 |  |  | 1,258,721 |
Corporate assets | 111,761 |  |  | 108,673 |
Eliminations | (172,669) |  |  | (137,299) |
Total reported assets | $ | 1,170,816 |  |  | $ | 1,230,095 |
Schedule of Revenue and Long-Lived Assets | Net sales and long-lived assets for the United States and other significant countries (that individually represent 10% or greater of consolidated totals for each year presented) are as follows:
| Fiscal Year
Net Sales to Unaffiliated Customers(1) | 2024 |  | 2023 |  | 2022
| (in thousands)
United States | $ | 744,407 |  |  | $ | 677,342 |  |  | $ | 694,299 |
Other foreign countries | 571,251 |  |  | 584,156 |  |  | 603,620 |
Total net sales | $ | 1,315,658 |  |  | $ | 1,261,498 |  |  | $ | 1,297,919 |
|  |  | End of Fiscal Year
Long-Lived Assets(2) |  |  | 2024 |  | 2023
|  |  | (in thousands)
United States |  |  | $ | 151,130 |  |  | $ | 146,106 |
Germany |  |  | 60,391 |  |  | 66,740 |
Netherlands |  |  | 36,350 |  |  | 40,455 |
Other foreign countries |  |  | 34,503 |  |  | 37,839 |
Total long-lived assets |  |  | $ | 282,374 |  |  | $ | 291,140 |
(1) Revenue attributed to geographic areas is based on the location of the customer. (2) Long-lived assets attributed to geographic areas are based on the physical location of the asset. 2024 includes $3.1 million and $5.0 million of leased equipment, net of accumulated amortization, in the United States and foreign countries, respectively. 2023 includes $2.2 million and $5.0 million of leased equipment, net of accumulated amortization, in the United States and foreign countries, respectively.

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration