| Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals |
| | | | | | | | | | | | | | | | | For the Second Quarter Ended June 29, 2025 | | | | Americas | | Europe | | APMEA | | Total | | | | | (in millions) | Net sales | | | | | | | | | | | | | | Net sales from external customers | | | $ | 498.5 | | $ | 111.0 | | $ | 34.2 | | $ | 643.7 | Intersegment sales | | | | 2.0 | | | 10.6 | | | 31.3 | | | 43.9 | Total segment net sales | | | $ | 500.5 | | $ | 121.6 | | $ | 65.5 | | $ | 687.6 | Reconciliation of net sales | | | | | | | | | | | | | | Elimination of intersegment sales | | | | | | | | | | | | | (43.9) | Total consolidated net sales | | | | | | | | | | | | $ | 643.7 | Less (a) | | | | | | | | | | | | | | Segment cost of goods sold | | | | 234.7 | | | 79.0 | | | 48.1 | | | | Segment selling, general and administrative | | | | 116.1 | | | 26.9 | | | 10.2 | | | | Segment research and development | | | | 13.9 | | | 2.7 | | | 0.7 | | | | Segment earnings | | | | 135.8 | | | 13.0 | | | 6.5 | | | 155.3 | | | | | | | | | | | | | | | Reconciliation of segment earnings to income before income taxes | | | | | | | | | | | | | | Segment special items (b) | | | | | | | | | | | | | (3.8) | Corporate operating loss (c) | | | | | | | | | | | | | (16.2) | Consolidated operating income | | | | | | | | | | | | | 135.3 | Interest income | | | | | | | | | | | | | (2.3) | Interest expense | | | | | | | | | | | | | 2.7 | Other expense, net | | | | | | | | | | | | | 0.2 | Income before income taxes | | | | | | | | | | | | $ | 134.7 |
| | | | | | | | | | | | | | | | | For the Second Quarter Ended June 30, 2024 | | | | Americas | | Europe | | APMEA | | Total | | | | | (in millions) | Net sales | | | | | | | | | | | | | | Net sales from external customers | | | $ | 448.1 | | $ | 114.1 | | $ | 35.1 | | $ | 597.3 | Intersegment sales | | | | 2.2 | | | 6.4 | | | 25.1 | | | 33.7 | Total segment net sales | | | $ | 450.3 | | $ | 120.5 | | $ | 60.2 | | $ | 631.0 | Reconciliation of net sales | | | | | | | | | | | | | | Elimination of intersegment sales | | | | | | | | | | | | | (33.7) | Total consolidated net sales | | | | | | | | | | | | $ | 597.3 | Less (a) | | | | | | | | | | | | | | Segment cost of goods sold | | | | 221.0 | | | 80.0 | | | 42.7 | | | | Segment selling, general and administrative | | | | 106.2 | | | 26.1 | | | 10.2 | | | | Segment research and development | | | | 14.3 | | | 3.0 | | | 0.7 | | | | Segment earnings | | | | 108.8 | | | 11.4 | | | 6.6 | | | 126.8 | | | | | | | | | | | | | | | Reconciliation of segment earnings to income before income taxes | | | | | | | | | | | | | | Segment special items (b) | | | | | | | | | | | | | (0.6) | Corporate operating loss (c) | | | | | | | | | | | | | (14.7) | Consolidated operating income | | | | | | | | | | | | | 111.5 | Interest income | | | | | | | | | | | | | (1.9) | Interest expense | | | | | | | | | | | | | 4.1 | Other income, net | | | | | | | | | | | | | (0.2) | Income before income taxes | | | | | | | | | | | | $ | 109.5 |
| | | | | | | | | | | | | | | | | For the Six Months Ended June 29, 2025 | | | | Americas | | Europe | | APMEA | | Total | | | | | (in millions) | Net sales | | | | | | | | | | | | | | Net sales from external customers | | | $ | 916.6 | | $ | 219.4 | | $ | 65.7 | | $ | 1,201.7 | Intersegment sales | | | | 4.2 | | | 18.7 | | | 56.2 | | | 79.1 | Total segment net sales | | | $ | 920.8 | | $ | 238.1 | | $ | 121.9 | | $ | 1,280.8 | Reconciliation of net sales | | | | | | | | | | | | | | Elimination of intersegment sales | | | | | | | | | | | | | (79.1) | Total consolidated net sales | | | | | | | | | | | | $ | 1,201.7 | Less (a) | | | | | | | | | | | | | | Segment cost of goods sold | | | | 438.7 | | | 153.5 | | | 89.4 | | | | Segment selling, general and administrative | | | | 220.9 | | | 51.5 | | | 19.1 | | | | Segment research and development | | | | 27.6 | | | 5.0 | | | 1.4 | | | | Segment earnings | | | | 233.6 | | | 28.1 | | | 12.0 | | | 273.7 | | | | | | | | | | | | | | | Reconciliation of segment earnings to income before income taxes | | | | | | | | | | | | | | Segment special items (b) | | | | | | | | | | | | | (22.2) | Corporate operating loss (c) | | | | | | | | | | | | | (28.5) | Consolidated operating income | | | | | | | | | | | | | 223.0 | Interest income | | | | | | | | | | | | | (4.6) | Interest expense | | | | | | | | | | | | | 5.4 | Other expense, net | | | | | | | | | | | | | 0.6 | Income before income taxes | | | | | | | | | | | | $ | 221.6 |
| | | | | | | | | | | | | | | | | For the Six Months Ended June 30, 2024 | | | | Americas | | Europe | | APMEA | | Total | | | | | (in millions) | Net sales | | | | | | | | | | | | | | Net sales from external customers | | | $ | 866.9 | | $ | 237.4 | | $ | 63.9 | | $ | 1,168.2 | Intersegment sales | | | | 4.8 | | | 12.1 | | | 46.4 | | | 63.3 | Total segment net sales | | | $ | 871.7 | | $ | 249.5 | | $ | 110.3 | | $ | 1,231.5 | Reconciliation of net sales | | | | | | | | | | | | | | Elimination of intersegment sales | | | | | | | | | | | | | (63.3) | Total consolidated net sales | | | | | | | | | | | | $ | 1,168.2 | Less (a) | | | | | | | | | | | | | | Segment cost of goods sold | | | | 432.0 | | | 161.5 | | | 78.8 | | | | Segment selling, general and administrative | | | | 208.8 | | | 51.4 | | | 18.4 | | | | Segment research and development | | | | 29.4 | | | 5.8 | | | 1.2 | | | | Segment earnings | | | | 201.5 | | | 30.8 | | | 11.9 | | | 244.2 | | | | | | | | | | | | | | | Reconciliation of segment earnings to income before income taxes | | | | | | | | | | | | | | Segment special items (b) | | | | | | | | | | | | | (7.1) | Corporate operating loss (c) | | | | | | | | | | | | | (28.9) | Consolidated operating income | | | | | | | | | | | | | 208.2 | Interest income | | | | | | | | | | | | | (4.0) | Interest expense | | | | | | | | | | | | | 8.3 | Other income, net | | | | | | | | | | | | | (0.8) | Income before income taxes | | | | | | | | | | | | $ | 204.7 |
| (a) | The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. Significant segment expenses exclude certain expenses incurred and benefits recognized, see footnote (b) below. Intersegment expenses are included within the amounts shown. |
| (b) | Segment special items are excluded from segment earnings and defined as non-recurring and unusual expenses incurred or benefits recognized such as restructuring costs, acquisition-related costs, and gain on sale of assets. |
| (c) | Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs. Corporate special items are included within the amounts shown and consist of acquisition-related costs. |
| | | | | | | | | | | | | | | | Second Quarter Ended | | Six Months Ended | | | | June 29, | | June 30, | | June 29, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | (in millions) | | Capital expenditures | | | | | | | | | | | | | | Americas | | $ | 5.8 | | $ | 3.7 | | $ | 12.3 | | $ | 11.0 | | Europe | | | 3.0 | | | 2.6 | | | 5.8 | | | 5.0 | | APMEA | | | 1.4 | | | 0.5 | | | 1.7 | | | 0.9 | | Consolidated capital expenditures | | $ | 10.2 | | $ | 6.8 | | $ | 19.8 | | $ | 16.9 | | Depreciation and amortization | | | | | | | | | | | | | | Americas | | $ | 11.1 | | $ | 10.7 | | $ | 21.9 | | $ | 21.1 | | Europe | | | 2.8 | | | 2.3 | | | 5.2 | | | 4.5 | | APMEA | | | 0.6 | | | 0.5 | | | 1.1 | | | 1.1 | | Consolidated depreciation and amortization | | $ | 14.5 | | $ | 13.5 | | $ | 28.2 | | $ | 26.7 | |
| | | | | | | | | | | | | | | | | | | | | June 29, | | December 31, | | | | | | | | | 2025 | | 2024 | | | | | | | | | | (in millions) | Identifiable assets (at end of period) | | | | | | | | | | | | | Americas | | | | | | | | $ | 1,845.8 | | $ | 1,728.0 | Europe | | | | | | | | | 624.9 | | | 534.1 | APMEA | | | | | | | | | 174.2 | | | 134.9 | Consolidated identifiable assets | | | | | | | | $ | 2,644.9 | | $ | 2,397.0 | Property, plant and equipment, net (at end of period) | | | | | | | | | | | | | Americas | | | | | | | | $ | 182.7 | | $ | 182.9 | Europe | | | | | | | | | 76.4 | | | 67.0 | APMEA | | | | | | | | | 6.2 | | | 4.9 | Consolidated property, plant and equipment, net | | | | | | | | $ | 265.3 | | $ | 254.8 |
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