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v3.26.1

Segment and Geographic Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Operating Segments | Information about the Company’s operating segments follows:
|  | Three Months Ended June 30, 2026 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
Sales from external customers |  | $ | 332,068 |  |  | $ | 335,045 |  |  | $ | 88,867 |  |  | $ | 755,980 |
Intersegment sales |  |  | 8,392 |  |  |  | 10,473 |  |  |  | 2,650 |  |  |  | 21,515 |
|  | $ | 340,460 |  |  | $ | 345,518 |  |  | $ | 91,517 |  |  | $ | 777,495 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (21,515 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 755,980 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 306,028 |  |  |  | 289,409 |  |  |  | 77,343 |  |  |  |
Selling, general and administrative expenses |  |  | 5,917 |  |  |  | 3,952 |  |  |  | 2,489 |  |  |  |
Other(1) |  |  | 588 |  |  |  | 32 |  |  |  | 64 |  |  |  |
Segment income from operations |  | $ | 19,535 |  |  | $ | 41,652 |  |  | $ | 8,971 |  |  | $ | 70,158 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (39,905 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (3,751 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 1,990 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  | 223 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 28,715 |
|  | Six Months Ended June 30, 2026 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
Sales from external customers |  | $ | 633,668 |  |  | $ | 630,250 |  |  | $ | 169,342 |  |  | $ | 1,433,260 |
Intersegment sales |  |  | 18,087 |  |  |  | 18,389 |  |  |  | 5,463 |  |  |  | 41,939 |
|  | $ | 651,755 |  |  | $ | 648,639 |  |  | $ | 174,805 |  |  | $ | 1,475,199 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (41,939 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 1,433,260 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 589,055 |  |  |  | 539,040 |  |  |  | 147,634 |  |  |  |
Selling, general and administrative expenses |  |  | 12,912 |  |  |  | 7,635 |  |  |  | 5,186 |  |  |  |
Other(1) |  |  | 4,344 |  |  |  | 67 |  |  |  | 64 |  |  |  |
Segment income from operations |  | $ | 27,357 |  |  | $ | 83,508 |  |  | $ | 16,458 |  |  | $ | 127,323 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (75,196 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (7,400 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 3,890 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  | (1,480 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 47,137 |
|  | Three Months Ended June 30, 2025 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
Sales from external customers |  | $ | 284,210 |  |  | $ | 276,562 |  |  | $ | 81,563 |  |  | $ | 642,335 |
Intersegment sales |  |  | 11,007 |  |  |  | 10,504 |  |  |  | 1,836 |  |  |  | 23,347 |
|  | $ | 295,217 |  |  | $ | 287,066 |  |  | $ | 83,399 |  |  | $ | 665,682 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (23,347 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 642,335 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 263,884 |  |  |  | 238,874 |  |  |  | 72,474 |  |  |  |
Selling, general and administrative expenses |  |  | 7,349 |  |  |  | 3,850 |  |  |  | 2,440 |  |  |  |
Other(1) |  |  | 2,200 |  |  |  | 6 |  |  |  | — |  |  |  |
Segment income from operations |  | $ | 10,777 |  |  | $ | 33,832 |  |  | $ | 6,649 |  |  | $ | 51,258 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (30,772 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (6,348 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 3,135 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  | (666 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 16,607 |
|  | Six Months Ended June 30, 2025 |
(in thousands) |  | Americas |  |  | Asia |  |  | Europe |  |  | Total |
Sales from external customers |  | $ | 558,336 |  |  | $ | 550,296 |  |  | $ | 165,467 |  |  | $ | 1,274,099 |
Intersegment sales |  |  | 21,159 |  |  |  | 20,809 |  |  |  | 4,211 |  |  |  | 46,179 |
|  | $ | 579,495 |  |  | $ | 571,105 |  |  | $ | 169,678 |  |  | $ | 1,320,278 |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  |  |  |  |  |  |  | (46,179 | )
Sales |  |  |  |  |  |  |  |  |  |  | $ | 1,274,099 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 523,541 |  |  |  | 470,431 |  |  |  | 146,106 |  |  |  |
Selling, general and administrative expenses |  |  | 14,829 |  |  |  | 7,384 |  |  |  | 4,709 |  |  |  |
Other(1) |  |  | 13,617 |  |  |  | 12 |  |  |  | — |  |  |  |
Segment income from operations |  | $ | 6,349 |  |  | $ | 72,469 |  |  | $ | 14,652 |  |  | $ | 93,470 |
Reconciliation of income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Other - corporate and eliminations(2) |  |  |  |  |  |  |  |  |  |  |  | (61,225 | )
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (11,643 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  | 5,867 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  | (1,468 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 25,001 |
(1) Includes expenses for amortization of intangible assets and restructuring charges and other costs. (2) Includes corporate expenses for unallocated expenses, amortization of intangible assets, restructuring charges and other costs and elimination of intersegment cost of sales.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 4,808 |  |  | $ | 5,255 |  |  | $ | 9,689 |  |  | $ | 10,467 |
Asia |  |  | 3,363 |  |  |  | 2,865 |  |  |  | 6,540 |  |  |  | 5,608 |
Europe |  |  | 1,106 |  |  |  | 1,006 |  |  |  | 2,224 |  |  |  | 1,989 |
Corporate |  |  | 2,706 |  |  |  | 2,891 |  |  |  | 5,432 |  |  |  | 5,721 |
Total depreciation and amortization |  | $ | 11,983 |  |  | $ | 12,017 |  |  | $ | 23,885 |  |  | $ | 23,785 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 3,638 |  |  | $ | 5,241 |  |  | $ | 13,269 |  |  | $ | 6,360 |
Asia |  |  | 8,816 |  |  |  | 4,243 |  |  |  | 14,991 |  |  |  | 5,862 |
Europe |  |  | 331 |  |  |  | 1,722 |  |  |  | 587 |  |  |  | 2,224 |
Corporate |  |  | 137 |  |  |  | 1,098 |  |  |  | 2,345 |  |  |  | 2,014 |
Total capital expenditures |  | $ | 12,922 |  |  | $ | 12,304 |  |  | $ | 31,192 |  |  | $ | 16,460 |
|  |  |  |  |  | June 30, |  |  | December 31, |
(in thousands) |  |  |  |  |  | 2026 |  |  | 2025 |
Assets: |  |  |  |  |  |  |  |  |  |
Americas |  |  |  |  |  | $ | 859,313 |  |  | $ | 819,820 |
Asia |  |  |  |  |  |  | 871,391 |  |  |  | 752,962 |
Europe |  |  |  |  |  |  | 278,891 |  |  |  | 269,728 |
Corporate |  |  |  |  |  |  | 204,776 |  |  |  | 229,205 |
Total assets |  |  |  |  |  | $ | 2,214,371 |  |  | $ | 2,071,715 |
Schedule of Geographic Sales and Long-Lived Assets | A summary of the Company’s geographic sales and long-lived assets follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(in thousands) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Geographic sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 405,188 |  |  | $ | 331,161 |  |  | $ | 764,812 |  |  | $ | 657,803 |
Singapore |  |  | 142,413 |  |  |  | 130,788 |  |  |  | 262,228 |  |  |  | 270,747 |
Other Asia |  |  | 74,500 |  |  |  | 61,841 |  |  |  | 141,388 |  |  |  | 113,285 |
Europe |  |  | 120,559 |  |  |  | 101,884 |  |  |  | 231,684 |  |  |  | 199,636 |
Other |  |  | 13,320 |  |  |  | 16,661 |  |  |  | 33,148 |  |  |  | 32,628 |
Total sales |  | $ | 755,980 |  |  | $ | 642,335 |  |  | $ | 1,433,260 |  |  | $ | 1,274,099 |
|  |  |  |  |  | June 30, |  |  | December 31, |
(in thousands) |  |  |  |  |  | 2026 |  |  | 2025 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |
United States |  |  |  |  |  | $ | 195,608 |  |  | $ | 195,317 |
Asia |  |  |  |  |  |  | 109,750 |  |  |  | 101,206 |
Europe |  |  |  |  |  |  | 38,384 |  |  |  | 41,629 |
Other |  |  |  |  |  |  | 57,920 |  |  |  | 58,370 |
Total long-lived assets |  |  |  |  |  | $ | 401,662 |  |  | $ | 396,522 |

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