v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 27, 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$353,119 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net14,739 
Inventories20,703 
Other current assets4,152 
Property, plant, and equipment21,532 
Intangible assets145,000 
Goodwill160,977 
Other long-term assets4,146 
Current liabilities(15,380)
Other long-term liabilities(2,750)
$353,119 
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 receivables5,985 
Inventories6,600 
Other current assets8,278 
Property, plant, and equipment30,132 
Intangible assets1,800 
Goodwill57,321 
Other long-term assets8,579 
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 EndedFor the Six Months Ended
(in thousands, except per share amounts)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales$738,781 $648,941 $1,395,750 $1,236,461 
Income before income taxes117,064 81,897 219,623 143,272 
Net income89,405 60,141 168,981 104,419 
Net income per share — basic3.532.43 6.71 4.22 
Net income per share — diluted3.492.41 6.62 4.19 
Schedule of Business Acquisition, Pro Forma Information, Non-recurring Adjustments
Pro forma results presented above primarily reflect the following adjustments:

For the Three Months EndedFor the Six Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Amortization (a)$— $(2,583)$— $(5,165)
Depreciation— (248)— (493)
Amortization of inventory adjustments (b)— — 5,333 (504)
Transaction costs (c)— — 495 (37)
Income tax benefit (expense) of above items— 679 (1,399)1,520 
Total$— $(2,152)$4,429 $(4,679)

(a) The amortization adjustment for the three and six months ended June 28, 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 six months ended June 27, 2026 and June 28, 2025. The inventory adjustment related to the Basler acquisition was fully amortized over three months as the inventory was sold during the first quarter of 2026. 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 six months ended June 27, 2026 and June 28, 2025, respectively.