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v3.25.3

Segment Information (Tables) | 9 Months Ended
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Sep. 28, 2025
Segment Reporting [Abstract] |
Schedule of Operating Segment Information | Segment depreciation and amortization for the three and nine months ended September 28, 2025 and September 29, 2024 is presented as follows:
| Three Months Ended |  | Nine Months Ended
| September 28, 2025 |  | September 29, 2024 |  | September 28, 2025 |  | September 29, 2024
| (in thousands) |  | (in thousands)
Depreciation and amortization |  |  |  |  |  |  |
AMS | $ | 4,748 |  |  | $ | 4,453 |  |  | $ | 14,075 |  |  | $ | 13,252 |
EAAA | 5,188 |  |  | 5,449 |  |  | 15,091 |  |  | 15,994 |
Total depreciation and amortization | $ | 9,936 |  |  | $ | 9,902 |  |  | $ | 29,166 |  |  | $ | 29,246 |
Reconciliation of Assets from Segment to Consolidated | A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts is presented as follows:
| September 28, 2025 |  | December 29, 2024
| (in thousands)
Assets |  |  |
AMS | $ | 645,906 |  |  | $ | 644,085 |
EAAA | 644,650 |  |  | 587,639 |
Total segment assets | 1,290,556 |  |  | 1,231,724 |
Corporate assets | 180,361 |  |  | 111,761 |
Eliminations | (140,394) |  |  | (172,669) |
Total reported assets | $ | 1,330,523 |  |  | $ | 1,170,816 |
Reconciliation of Operating Income 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 the three and nine months ended September 28, 2025 and September 29, 2024.
|  | Three Months Ended
|  | September 28, 2025 |  | September 29, 2024
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  | (in thousands)
Net sales |  | $ | 218,614 |  | $ | 145,912 |  | $ | 364,526 |  |  | $ | 210,155 |  | $ | 134,115 |  | $ | 344,270 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 127,566 |  | 92,862 |  |  |  | 128,668 |  | 86,665 |  |
Adjusted selling, general, & administrative expenses (3) |  | 50,572 |  | 39,380 |  |  |  | 49,300 |  | 36,151 |  |
Segment AOI |  | 40,476 |  | 13,670 |  | 54,146 |  |  | 32,187 |  | 11,299 |  | 43,486 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 319 |  |  |  |  | — |
Purchase accounting amortization |  |  |  | 467 |  |  |  |  | 1,311 |
Interest expense |  |  |  | 4,211 |  |  |  |  | 5,721 |
Other expense, net |  |  |  | 659 |  |  |  |  | 381 |
Income before taxes |  |  |  | $ | 48,490 |  |  |  |  | $ | 36,073 |
(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. (3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net.
|  | Nine Months Ended
|  | September 28, 2025 |  | September 29, 2024
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  | (in thousands)
Net sales |  | $ | 637,994 |  | $ | 399,467 |  | $ | 1,037,461 |  |  | $ | 595,082 |  | $ | 385,566 |  | $ | 980,648 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 371,134 |  | 260,683 |  |  |  | 369,699 |  | 246,410 |  |
Adjusted selling, general, & administrative expenses (3) |  | 157,676 |  | 112,459 |  |  |  | 148,169 |  | 107,754 |  |
Segment AOI |  | 109,184 |  | 26,325 |  | 135,509 |  |  | 77,214 |  | 31,402 |  | 108,616 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 3,802 |  |  |  |  | 330 |
Purchase accounting amortization |  |  |  | 3,073 |  |  |  |  | 3,895 |
Cyber event impact |  |  |  | — |  |  |  |  | (381) |
Interest expense |  |  |  | 13,069 |  |  |  |  | 18,317 |
Other expense, net |  |  |  | 5,773 |  |  |  |  | 237 |
Income before taxes |  |  |  | $ | 109,792 |  |  |  |  | $ | 86,218 |
(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. (3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net, and the impact of a cyber event.
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 the three and nine months ended September 28, 2025 and September 29, 2024.
|  | Three Months Ended
|  | September 28, 2025 |  | September 29, 2024
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  | (in thousands)
Net sales |  | $ | 218,614 |  | $ | 145,912 |  | $ | 364,526 |  |  | $ | 210,155 |  | $ | 134,115 |  | $ | 344,270 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 127,566 |  | 92,862 |  |  |  | 128,668 |  | 86,665 |  |
Adjusted selling, general, & administrative expenses (3) |  | 50,572 |  | 39,380 |  |  |  | 49,300 |  | 36,151 |  |
Segment AOI |  | 40,476 |  | 13,670 |  | 54,146 |  |  | 32,187 |  | 11,299 |  | 43,486 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 319 |  |  |  |  | — |
Purchase accounting amortization |  |  |  | 467 |  |  |  |  | 1,311 |
Interest expense |  |  |  | 4,211 |  |  |  |  | 5,721 |
Other expense, net |  |  |  | 659 |  |  |  |  | 381 |
Income before taxes |  |  |  | $ | 48,490 |  |  |  |  | $ | 36,073 |
(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. (3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net.
|  | Nine Months Ended
|  | September 28, 2025 |  | September 29, 2024
|  | AMS | EAAA | TOTAL |  | AMS | EAAA | TOTAL
|  | (in thousands)
Net sales |  | $ | 637,994 |  | $ | 399,467 |  | $ | 1,037,461 |  |  | $ | 595,082 |  | $ | 385,566 |  | $ | 980,648 |
Less: significant segment expenses (1) |  |  |  |  |  |  |  |
Adjusted cost of sales (2) |  | 371,134 |  | 260,683 |  |  |  | 369,699 |  | 246,410 |  |
Adjusted selling, general, & administrative expenses (3) |  | 157,676 |  | 112,459 |  |  |  | 148,169 |  | 107,754 |  |
Segment AOI |  | 109,184 |  | 26,325 |  | 135,509 |  |  | 77,214 |  | 31,402 |  | 108,616 |
Reconciliation of AOI to income before taxes |  |  |  |  |  |  |  |
Restructuring, severance, asset impairment and other, net |  |  |  | 3,802 |  |  |  |  | 330 |
Purchase accounting amortization |  |  |  | 3,073 |  |  |  |  | 3,895 |
Cyber event impact |  |  |  | — |  |  |  |  | (381) |
Interest expense |  |  |  | 13,069 |  |  |  |  | 18,317 |
Other expense, net |  |  |  | 5,773 |  |  |  |  | 237 |
Income before taxes |  |  |  | $ | 109,792 |  |  |  |  | $ | 86,218 |
(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. (3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net, and the impact of a cyber event.

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- 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
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