SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Financial Information for Reportable Segments

Summarized financial information for the Company’s reportable segments is shown in the following tables for the years ended December 31, 2025, 2024 and 2023:


	2025
(In thousands)	MS		APS		Inter-segment		Total
Net sales	$	1,406.7	$	1,799.1	$	(9.2)	$	3,196.6
Cost of sales	790.8		995.1		(9.2)		1,776.7
Operating expenses	339.3		377.6		—		716.9
Segment profit	$	276.6	$	426.4	$	—	$	703.0


	2024
(In thousands)	MS		APS		Inter-segment		Total
Net sales	$	1,400.1	$	1,850.2	$	(9.1)	$	3,241.2
Cost of sales	769.2		994.4		(9.1)		1,754.5
Operating expenses	344.7		359.7		—		704.4
Segment profit	$	286.2	$	496.1	$	—	$	782.3


	2023
(In thousands)	MS		APS		Inter-segment		Total
Net sales	$	1,689.5	$	1,846.6	$	(12.2)	$	3,523.9
Cost of sales	1,060.6		977.9		(12.2)		2,026.3
Operating expenses	332.5		337.3		—		669.8
Segment profit	$	296.4	$	531.4	$	—	$	827.8

Schedule of Reconciliation of Total Segment Profit to Operating Income

The following table reconciles total segment profit to income before income tax expense (benefit) for the years ended December 31, 2025, 2024 and 2023:


(In thousands)	2025		2024		2023
Total segment profit	$	703.0	$	782.3	$	827.8
Less:
Amortization of intangibles	184.4		190.1		214.5
Unallocated general and administrative expenses	62.7		58.3		114.1
Operating income	$	455.9	$	533.9	499.2
Interest expense	199.8		215.2		312.4
Interest income	(7.9)		(7.3)		(11.3)
Other expense, net	9.4		4.0		25.4
Income before income tax expense (benefit)	$	254.6	$	322.0	$	172.7

The following tables summarize depreciation for the Company’s reportable segments for the years ended December 31, 2025, 2024 and 2023:


(In thousands)	2025		2024		2023
Depreciation:
MS	$	89.8	$	90.2	$	95.4
APS	115.5		97.9		77.3
Total depreciation	$	205.3	$	188.1	$	172.7

Schedule of Revenue from External Customers, by Geographical Areas

In the following tables, revenue is disaggregated by country or region based on the ship to location of the customer for the years ended December 31, 2025, 2024 and 2023:


	2025
(In thousands)	MS		APS		Inter-segment		Total
North America	$	270.3	$	300.4	$	(9.2)	$	561.5
Taiwan	279.1		456.8		—		735.9
China	268.1		389.6		—		657.7
South Korea	205.1		223.4		—		428.5
Japan	139.8		177.8		—		317.6
Europe	100.7		138.7		—		239.4
Southeast Asia	143.6		112.4		—		256.0
	$	1,406.7	$	1,799.1	$	(9.2)	$	3,196.6


	2024
(In thousands)	MS		APS		Inter-segment		Total
North America	$	316.0	$	364.7	$	(9.1)	$	671.6
Taiwan	238.8		423.9		—		662.7
China	257.0		414.2		—		671.2
South Korea	202.6		216.2		—		418.8
Japan	128.5		180.9		—		309.4
Europe	115.8		159.7		—		275.5
Southeast Asia	141.4		90.6		—		232.0
	$	1,400.1	$	1,850.2	$	(9.1)	$	3,241.2


	2023
(In thousands)	MS		APS		Inter-segment		Total
North America	$	540.4	$	363.0	$	(12.2)	$	891.2
Taiwan	232.0		358.7		—		590.7
China	197.0		369.9		—		566.9
South Korea	218.2		225.0		—		443.2
Japan	105.0		262.3		—		367.3
Europe	229.4		173.0		—		402.4
Southeast Asia	167.5		94.7		—		262.2
	$	1,689.5	$	1,846.6	$	(12.2)	$	3,523.9

Schedule of Property, Plant and Equipment Attributed to Significant Countries

The following table summarizes property, plant and equipment, net, attributed to significant country or region for the years ended December 31, 2025, 2024 and 2023:


(In thousands)	2025		2024		2023
Property, plant and equipment, net:
North America	$	864.7	$	876.8	$	747.8
Taiwan	446.8		434.6		412.3
South Korea	134.3		117.7		101.1
Japan	116.7		114.8		118.9
Malaysia	41.9		44.3		50.2
China	27.8		30.4		32.9
Other	3.9		4.3		4.8
	$	1,636.1	$	1,622.9	$	1,468.0