v3.25.2
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jul. 01, 2024
Cash flows from operating activities:    
Net income $ 73,708 $ 36,818
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant, and equipment 54,555 50,879
Amortization of definite-lived intangibles 18,448 26,356 [1]
Amortization of debt discount and issuance costs 1,067 1,024
Deferred income taxes 1,389 (209)
Stock-based compensation 17,975 13,367
Other 7,318 (9,193)
Changes in operating assets and liabilities:    
Accounts receivable, net (46,741) 12,843
Contract assets (43,591) (48,070)
Inventories (25,354) (3,831)
Prepaid expenses and other current assets (7,876) (11,031)
Accounts payable 47,458 24,198
Contract liabilities (8,785) 2,274
Accrued salaries, wages and benefits (6,232) (9,015)
Other current liabilities 3,810 (660)
Net cash provided by operating activities 87,149 85,750
Cash flows from investing activities:    
Net purchases of property, plant and equipment and other assets (123,726) (88,811)
Proceeds from sale of property, plant and equipment and other assets 272 29,560
Proceeds from sale of Shanghai E-MS (SH E-MS) property 0 6,737
Net cash used in investing activities (123,454) (52,514)
Cash flows from financing activities:    
Repurchases of common stock (17,875) (34,479)
Repayment of long-term debt borrowings (1,895) (2,625)
Net cash used in financing activities (19,770) (37,104)
Effect of foreign currency exchange rates on cash and cash equivalents 110 (93)
Net decrease in cash and cash equivalents (55,965) (3,961)
Cash and cash equivalents at beginning of period 503,932 450,208
Cash and cash equivalents at end of period 447,967 446,247
Supplemental cash flow information:    
Cash paid, net for interest 23,575 27,048
Cash paid, net for income taxes 15,423 11,475
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment recorded in accounts payable and other current liabilities $ 59,126 $ 75,271
[1] Amortization of definite-lived intangibles relates to the A&D, Commercial, and RF&S Components reportable segments, but is not reviewed separately by the CODM. For the quarters ended June 30, 2025 and July 1, 2024, amortization expense of $2,336 and $2,335, respectively, is included in cost of goods sold for the A&D reportable segment. For both the two quarters ended June 30, 2025 and July 1, 2024, amortization expense of $4,671 is included in cost of goods sold for the A&D reportable segment.