v3.26.1
Segment Information
 3 Months Ended
Apr. 05, 2026
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company determines that an operating segment exists if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has operating results that are regularly reviewed by the chief operating decision maker (“CODM”), and (iii) has discrete financial information. Additionally, accounting standards require the utilization of a “management approach” to report the financial results of operating segments, which is based on information used by the CODM to assess performance and make operating and resource allocation decisions. The Company determined that it has two operating segments organized by geographical area – namely (a) Americas (“AMS”) and (b) Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment includes the United States, Canada and Latin America geographic areas.
Pursuant to the management approach discussed above, the Company’s CODM, our chief executive officer, evaluates performance at the AMS and EAAA operating segment levels and makes operating and resource allocation decisions based on adjusted segment operating income (“AOI”). The CODM uses AOI to evaluate segment operating results compared to expectations. AOI is also used by the CODM to develop variable compensation targets and make capital spend decisions. AOI excludes: nora purchase accounting amortization and restructuring, asset impairment, severance, and other, net. Intersegment revenues for both the three months ended April 5, 2026 and March 30, 2025, were $28.0 million, respectively. Intersegment revenues are eliminated from net sales presented below since these amounts are not included in the information provided to the CODM.
The Company has determined that it has two reportable segments – AMS and EAAA, as each operating segment meets the quantitative thresholds defined in the accounting guidance.
The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for the three months ended April 5, 2026 and March 30, 2025.
Three Months Ended
April 5, 2026March 30, 2025
AMSEAAATOTALAMSEAAATOTAL
(in thousands)
Net sales$195,671 $135,366 $331,037 $179,937 $117,476 $297,413 
Less: significant segment expenses (1)
   Adjusted cost of sales (2)
117,368 86,946 108,527 76,668 
   Adjusted selling, general, & administrative expenses(3)
54,407 39,593 51,547 35,217 
Segment AOI23,896 8,827 32,723 19,863 5,591 25,454 
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net393 973 
Purchase accounting amortization
— 1,255 
Interest expense2,665 4,415 
Other expense, net
774 1,703 
Income before taxes$28,891 $17,109 
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded.
(2) Adjusted cost of sales excludes purchase accounting amortization.
(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net.
Segment depreciation and amortization for the three months ended April 5, 2026 and March 30, 2025 is presented as follows:
Three Months Ended
April 5, 2026March 30, 2025
(in thousands)
 
Depreciation and amortization
AMS$4,804 $4,587 
EAAA5,072 4,814 
Total depreciation and amortization$9,876 $9,401 

A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
April 5, 2026December 28, 2025
(in thousands)
Assets
AMS$570,229 $660,189 
EAAA616,948 619,663 
Total segment assets1,187,177 1,279,852 
Corporate assets110,094 98,853 
Eliminations(91,483)(172,183)
Total reported assets$1,205,788 $1,206,522