Goodwill and Other Intangible Assets (Tables)
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3 Months Ended |
Mar. 28, 2026 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Goodwill |
The amounts for goodwill and changes in the carrying value by segment for the three months ended March 28, 2026 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Electronics | | Transportation | | Industrial | | Total | Net goodwill as of December 27, 2025 | | | | | | | | | Gross goodwill as of December 27, 2025 | | $ | 1,027,462 | | | $ | 242,192 | | | $ | 338,739 | | | $ | 1,608,393 | | Accumulated impairment losses as of December 27, 2025 | | (303,133) | | | (44,793) | | | (49,056) | | | (396,982) | | | Total | | 724,329 | | | 197,399 | | | 289,683 | | | 1,211,411 | | Changes during 2026: | | | | | | | | | | Adjustments (a) | | — | | | — | | | 8,634 | | | 8,634 | | | | | | | | | | | | Foreign currency translation adjustments | | (7,987) | | | (916) | | | (1,350) | | | (10,253) | | Net goodwill as of March 28, 2026 | | | | | | | | | Gross goodwill as of March 28, 2026 | | 1,015,516 | | | 240,953 | | | 345,030 | | | 1,601,499 | | Accumulated impairment losses as of March 28, 2026 | | (299,174) | | | (44,470) | | | (48,063) | | | (391,707) | | | Total | | $ | 716,342 | | | $ | 196,483 | | | $ | 296,967 | | | $ | 1,209,792 | |
(a) The adjustments were related to the acquisition of Basler.
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| Schedule of Finite-Lived Intangible Assets |
The components of intangible assets as of March 28, 2026 and December 27, 2025 were as follows: | | | | | | | | | | | | | | | | | | | | | | | As of March 28, 2026 | | (in thousands) | | | Gross
Carrying
Value | | Accumulated Amortization | | Net Book Value | | Land use rights | | | $ | 16,838 | | | $ | 3,783 | | | $ | 13,055 | | | Patents, licenses, and software | | | 288,347 | | | 214,771 | | | 73,576 | | | Distribution network | | | 42,246 | | | 42,246 | | | — | | | Customer relationships, trademarks, and tradenames | | | 783,688 | | | 300,294 | | | 483,394 | | | | | | | | | | | Total | | | $ | 1,131,119 | | | $ | 561,094 | | | $ | 570,025 | |
| | | | | | | | | | | | | | | | | | | | As of December 27, 2025 | | (in thousands) | Gross
Carrying
Value | | Accumulated Amortization | | Net Book Value | | Land use rights | $ | 16,661 | | | $ | 3,613 | | | $ | 13,048 | | | Patents, licenses, and software | 291,192 | | | 212,184 | | | 79,008 | | | Distribution network | 42,384 | | | 42,384 | | | — | | | Customer relationships, trademarks, and tradenames | 793,670 | | | 290,819 | | | 502,851 | | | Total | $ | 1,143,907 | | | $ | 549,000 | | | $ | 594,907 | |
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| Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived |
The intangible assets of $145.0 million acquired from the Basler acquisition, the components of which were as follows: | | | | | | | | | | | | | | 2026 | | (in thousands, except weighted average useful life) | Weighted Average
Useful Life (Years) | | Amount | | | | | | Basler | | | | | Patents, developed technology | 5 | | $ | 15,000 | | | Customer relationships, trademarks, and tradenames | 14.5 | | 130,000 | | | Total | | | $ | 145,000 | |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated annual amortization expense related to intangible assets with definite lives as of March 28, 2026 was as follows: | | | | | | (in thousands) | Amount | | Remainder of 2026 | $ | 43,947 | | | 2027 | 58,361 | | | 2028 | 57,960 | | | 2029 | 57,549 | | | 2030 | 54,090 | | | 2031 and thereafter | 298,118 | | | Total | $ | 570,025 | |
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