v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company is organized into four geographical operating segments that are based on management responsibilities: Northern North America; Latin America; Europe, Middle East & Africa; and Asia Pacific. The operating segments have been aggregated (based on economic similarities, the nature of their products and solutions, end-user markets and methods of distribution) into two reportable segments: Americas and International.
The Americas segment is comprised of our operations in Northern North America and Latin America geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived.
The Company's sales are allocated to each segment based primarily on the destination country of the end-customer.
Adjusted operating income is the measure used by the chief operating decision maker, identified as our President and Chief Executive Officer, to evaluate reportable segment performance and identify opportunities when allocating resources. Adjusted operating income is defined as operating income excluding restructuring charges, currency exchange, transaction costs and acquisition-related amortization.
The accounting principles applied at the operating segment level in determining the segment measure of profit or loss are the same as those applied at the unaudited condensed consolidated financial statement level. Sales and transfers between operating segments are accounted for at market-based transaction prices and are eliminated in consolidation.
Reportable segment information is presented in the following table:
(In thousands)AmericasInternational
Corporate/Reconciling
Items(a)
Consolidated
Totals
Three Months Ended March 31, 2026
Net sales to external customers$325,238 $138,394 $— $463,632 
Less:
Cost of products sold160,932 79,728 — 
Selling, general and administrative56,540 37,420 11,536 
Research and development9,640 6,715 — 
Adjusted operating income98,126 14,531 
Noncash items:
Depreciation and amortization12,160 5,973 219 18,352 
Pension (income) expense(5,427)1,049 — (4,378)
Total Assets1,660,427 949,179 (45,620)
(b)
2,563,986 
Capital expenditures7,658 2,286 643 10,587 
Three Months Ended March 31, 2025
Net sales to external customers$293,160 $128,180 $— $421,340 
Less:
Cost of products sold154,180 71,479 — 
Selling, general and administrative50,918 31,693 9,899 
Research and development9,369 6,300 — 
Adjusted operating income78,693 18,708 
Noncash items:
Depreciation and amortization11,517 4,505 229 16,251 
Pension (income) expense(4,695)847 — (3,848)
Total Assets1,481,750 699,029 55,106 2,235,885 
Capital expenditures8,791 1,850 143 10,784 
(a) Corporate/Reconciling items consist primarily of corporate expenses and other items not directly attributable to reportable segments.
(b) Negative Corporate/Reconciling items driven primarily by bank overdrafts under our notional cash pooling arrangement. Refer to Note 3—Cash and Cash Equivalents for further details.
A reconciliation of total Adjusted operating income from reportable segments to Income before income taxes is presented in the following table:
Three Months Ended March 31,
(In thousands)20262025
Adjusted operating income from reportable segments$112,657 $97,401 
Less:
Corporate expenses11,536 9,899 
Restructuring charges (Note 4)2,329 1,924 
Currency exchange losses, net199 4,076 
Interest expense7,703 6,835 
Other income, net(7,681)(7,023)
Acquisition-related amortization3,392 2,286 
Transaction costs(a)
2,187 1,455 
Income before income taxes$92,992 $77,949 
(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred during our evaluation of or in connection with acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income.
Total sales by product group was as follows:
Three Months Ended March 31, 2026ConsolidatedAmericasInternational
(In thousands, except percentages)DollarsPercentDollarsPercentDollarsPercent
Detection (a)
$180,842 39%$123,975 38%$56,867 41%
Fire Service (b)
159,271 34%116,092 36%43,179 31%
Industrial PPE and Other (c)
123,519 27%85,171 26%38,348 28%
Total$463,632 100%$325,238 100%$138,394 100%
Three Months Ended March 31, 2025ConsolidatedAmericasInternational
(In thousands, except percentages)DollarsPercentDollarsPercentDollarsPercent
Detection (a)
$161,070 38%$109,891 37%$51,179 40%
Fire Service (b)
150,616 36%105,907 36%44,709 35%
Industrial PPE and Other (c)
109,654 26%77,362 27%32,292 25%
Total$421,340 100%$293,160 100%$128,180 100%
(a) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection. Detection includes the sales of the acquired M&C TechGroup and its affiliated companies (“M&C”), from May 6th, 2025, onward (Americas and International). Refer to Note 15—Acquisitions for further information.
(b) Fire Service includes Breathing Apparatus and Firefighter Helmets and Protective Apparel.
(c) Industrial PPE and Other includes Industrial Head Protection, Fall Protection and other.