Acquisitions (Tables)

3 Months Ended

Mar. 28, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed

The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Basler acquisition:


(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of cash acquired	$	352,809
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net	14,739
Inventories	20,703
Other current assets	4,152
Property, plant, and equipment	21,532
Intangible assets	145,000
Goodwill	160,977
Other long-term assets	4,146
Current liabilities	(15,690)
Other long-term liabilities	(2,750)
	$	352,809

The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Dortmund Fab acquisition:


(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of cash acquired	$	95,942
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables	5,985
Inventories	6,600
Other current assets	8,278
Property, plant, and equipment	30,132
Intangible assets	1,800
Goodwill	57,321
Other long-term assets	8,579
Current liabilities	(7,464)

Other long-term liabilities	(15,289)
	$	95,942

Schedule of Business Acquisition, Pro Forma Information

The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company, Basler and Dortmund Fab as though the acquisitions had occurred as of December 31, 2023. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the Basler and Dortmund Fab acquisitions occurred as of December 31, 2023, or of future consolidated operating results.


	For the Three Months Ended
(in thousands, except per share amounts)	March 28, 2026		March 29, 2025
Net sales	$	656,969	$	587,520
Income before income taxes	102,559		61,376
Net income	79,576		44,278
Net income per share — basic	3.17		1.79
Net income per share — diluted	3.13		1.77

Schedule of Business Acquisition, Pro Forma Information, Non-recurring Adjustments

Pro forma results presented above primarily reflect the following adjustments:


	For the Three Months Ended
(in thousands)	March 28, 2026		March 29, 2025
Amortization (a)	$	—	$	(2,583)
Depreciation	—		(245)
Amortization of inventory adjustments (b)	5,333		(504)
Transaction costs (c)	495		(37)
Income tax (expense) benefit of above items	(1,399)		841
Total	$	4,429	$	(2,528)

(a) The amortization adjustment for the three months ended March 29, 2025, primarily reflects amortization resulting from the measurement of intangibles at their fair values.

(b) The amortization of inventory adjustments reflects the reversal of the amount recognized during the three months ended March 28, 2026 and March 29, 2025. The inventory adjustment related to the Basler acquisition is being amortized over three months as the inventory is sold. The inventory adjustment related to the Dortmund Fab acquisition was fully amortized over two months as the inventory was sold during 2025.

(c) The transaction costs adjustment reflects the reversal of certain legal and professional fees related to the Basler and Dortmund acquisitions for the three months ended March 28, 2026 and March 29, 2025, respectively