v3.26.1
SEGMENT INFORMATION (Tables)
3 Months Ended
Mar. 28, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information for Reportable Segments
Summarized financial information for the Company’s reportable segments is shown in the following tables for the three months ended March 28, 2026 and March 29, 2025:
Three months ended
March 28, 2026
(In millions)MSAPSInter-segmentTotal
Net sales$351.1 $463.6 $(2.8)$811.9 
Cost of sales194.2 239.7 (2.8)431.1 
Operating expenses81.0 90.3 — 171.3 
Segment profit$75.9 $133.6 $— $209.5 

Three months ended
March 29, 2025
(In millions)MSAPSInter-segmentTotal
Net sales$341.4 $433.9 $(2.1)$773.2 
Cost of sales183.4 235.4 (2.1)416.7 
Operating expenses83.0 90.4 — 173.4 
Segment profit$75.0 $108.1 $— $183.1 
Schedule of Reconciliation of Total Segment Profit to Operating Income
The following table reconciles total segment profit to income before income tax expense for the three months ended March 28, 2026 and March 29, 2025:
(In millions)March 28, 2026March 29, 2025
Total segment profit$209.5 183.1 
Less:
Amortization of intangible assets46.3 46.1 
Unallocated general and administrative expenses21.6 14.7 
Operating income141.6 122.3 
Interest expense48.9 51.0 
Interest income(1.9)(1.4)
Other (income) expense, net1.4 1.3 
Income before income tax expense$93.2 $71.4 
The following tables summarize depreciation and capital expenditures for the Company’s reportable segments for the three months ended March 28, 2026 and March 29, 2025:
(In millions)March 28, 2026March 29, 2025
Depreciation:
MS$14.2 $22.4 
APS19.9 27.5 
Total depreciation $34.1 $49.9 
Schedule of Revenue from External Customers, by Geographical Areas
In the following tables, net sales are disaggregated by customers’ country or region based on the ship to location of the customer for the three months ended March 28, 2026 and March 29, 2025, respectively.
Three months ended March 28, 2026
(In millions)MS APSInter-segment Total
North America$59.2 $78.1 $(2.8)$134.5 
Taiwan73.5 134.4 — 207.9 
China61.9 85.4 — 147.3 
South Korea53.9 56.1 — 110.0 
Japan40.0 49.6 — 89.6 
Europe26.4 28.0 — 54.4 
Southeast Asia36.2 32.0 — 68.2 
$351.1 $463.6 $(2.8)$811.9 

Three months ended March 29, 2025
(In millions)MS APSInter-segmentTotal
North America$66.2 $84.9 $(2.1)$149.0 
Taiwan62.0 113.7 — 175.7 
China71.4 82.0 — 153.4 
South Korea49.5 52.5 — 102.0 
Japan31.9 38.3 — 70.2 
Europe24.8 37.2 — 62.0 
Southeast Asia35.6 25.3 — 60.9 
$341.4 $433.9 $(2.1)$773.2