v3.26.1
Restructuring, Impairment, and Other Charges
 6 Months Ended
Jun. 27, 2026
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Other Charges Restructuring, Impairment, and Other Charges
The Company recorded restructuring, impairment, and other charges for the three and six months ended June 27, 2026 and June 28, 2025 as follows:

Three Months Ended June 27, 2026Six Months Ended June 27, 2026
(in thousands)ElectronicsTransportationIndustrialTotalElectronicsTransportationIndustrialTotal
Employee terminations$3,131 $1,372 $704 $5,207 $7,958 $3,413 $1,076 $12,447 
Other restructuring charges1,556 112 — 1,668 1,734 116 — 1,850 
Total restructuring charges4,687 1,484 704 6,875 9,692 3,529 1,076 14,297 
Impairment 12,898 248 — 13,146 12,898 248 — 13,146 
   Total$17,585 $1,732 $704 $20,021 $22,590 $3,777 $1,076 $27,443 

 Three Months Ended June 28, 2025Six Months Ended June 28, 2025
(in thousands)ElectronicsTransportationIndustrialTotalElectronicsTransportationIndustrialTotal
Employee terminations$1,100 $1,350 $24 $2,474 $5,904 $4,482 $436 $10,822 
Other restructuring charges7 25 — 32 518 48 1 567 
Total restructuring charges1,107 1,375 24 2,506 6,422 4,530 437 11,389 
Impairment — — — — 136 — — 136 
   Total$1,107 $1,375 $24 $2,506 $6,558 $4,530 $437 $11,525 
2026
For the three and six months ended June 27, 2026, the Company recorded total restructuring charges of $6.9 million and $14.3 million, respectively, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions for the semiconductor business within the Electronics segment and the reorganization of certain manufacturing, selling and administrative functions for the commercial vehicle business within the Transportation segment. In addition, during the second quarter of 2026, the Company recognized fixed asset impairment charges of $13.1 million, primarily related to the announced closure and/or disposition of two manufacturing sites for the semiconductor business within the Electronics segment.

2025
For the three and six months ended June 28, 2025, the Company recorded total restructuring charges of $2.5 million and $11.4 million, respectively, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and corporate support functions for all businesses within the Transportation segment and for the semiconductor business within the Electronics segment. In addition, during the first quarter of 2025, the Company recognized a $0.1 million impairment charge related to certain machinery and equipment within the Electronics segment.

The restructuring reserves as of June 27, 2026 and December 27, 2025 were $5.3 million and $6.0 million, respectively, included within Accrued liabilities. Additionally, $0.2 million and $0.3 million were included within Other long-term liabilities in the Condensed Consolidated Balance Sheets as of June 27, 2026 and December 27, 2025, respectively. The Company anticipates the remaining payments associated with employee terminations will primarily be completed during fiscal year 2026.