v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segment Reporting
The Company has provided this segment information for comparable prior periods. Segment information is summarized as follows:
 Three Months EndedSix Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales    
Electronics$406,420 $335,666 $769,195 $642,915 
Transportation182,411 179,400 352,792 341,262 
Industrial149,950 98,347 273,763 183,543 
Total net sales$738,781 $613,413 $1,395,750 $1,167,720 
Other segment expenses (b)
Electronics$319,504 $285,805 $612,000 $546,288 
Transportation156,720 151,326 302,998 294,271 
Industrial122,476 79,484 225,528 151,606 
Total other segment expenses$598,700 $516,615 $1,140,526 $992,165 
Segment operating income
Electronics$86,916 $49,861 $157,195 $96,627 
Transportation25,691 28,074 49,794 46,991 
Industrial27,474 18,863 48,235 31,937 
Total segment operating income140,081 96,798 255,224 175,555 
Other (a)
(20,357)(4,020)(34,335)(12,627)
Total operating income119,724 92,778 220,889 162,928 
Interest expense5,739 8,568 12,716 17,443 
Foreign exchange (gain) loss(160)10,448 (2,573)15,291 
Other income, net(2,919)(4,452)(3,049)(7,967)
Income before income taxes$117,064 $78,214 $213,795 $138,161 
 
(a) Included in "Other" Operating income for the second quarter of 2026 was $6.9 million ($14.3 million year-to-date) of restructuring charges primarily related to employee termination costs. 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. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion. In addition, during the second quarter of 2026, the Company recognized $0.4 million ($1.5 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions. During the first quarter of 2026, the Company recognized a $5.4 million of purchase accounting inventory step-up adjustment related to the Basler acquisition.

Included in "Other" Operating income for the second quarter of 2025 was $2.5 million ($11.4 million year-to-date) of restructuring charges primarily related to employee termination costs. 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. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion. In addition, during the second quarter of 2025, the Company recognized $1.5 million ($1.6 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions. During the first quarter of 2025, the Company recognized a $0.5 million of purchase accounting inventory step-down adjustment related to the Dortmund Fab acquisition.
(b) Other segment operating expenses include cost of sales, selling, general, and administration expenses, and research and development expenses. Other segment expenses are reconciled to the operating income of each segment. The CODM regularly assesses the performance of each operating segment focusing on each operating segment’s revenue and operating income.

The Company’s depreciation and amortization expenses by segment for the three and six months ended June 27, 2026 and June 28, 2025 were as follows:
 Three Months EndedSix Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Depreciation
Electronics$12,217 $12,552 $23,950 $23,962 
Transportation5,489 5,318 10,529 10,817 
Industrial2,161 1,505 4,340 3,026 
Total depreciation$19,867 $19,375 $38,819 $37,805 
Amortization
Electronics$7,647 $10,098 $16,624 $19,875 
Transportation2,765 3,406 6,127 6,755 
Industrial4,292 1,348 8,453 2,553 
Total amortization$14,704 $14,852 $31,204 $29,183 
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset
The Company’s net sales by country were as follows, classified according to the country where the customer is located: 
 Three Months EndedSix Months Ended
(in thousands)June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales
United States$267,404 $219,480 $496,927 $417,858 
China184,067 146,343 339,970 275,737 
Other countries (a)
287,310 247,590 558,853 474,125 
Total net sales$738,781 $613,413 $1,395,750 $1,167,720 
 
The Company’s long-lived assets represent net property, plant, and equipment, and are classified according to the country where the asset is located. The Company's long-lived assets were as follows:
(in thousands)June 27, 2026December 27, 2025
Long-lived assets
United States$77,173 $95,619 
China130,224 130,047 
Mexico78,690 83,478 
Germany110,507 110,246 
Philippines58,871 61,591 
Other countries 57,695 59,659 
Total long-lived assets$513,160 $540,640 
 
The Company’s additions to net property, plant, and equipment by country were as follows:
 Six Months Ended
(in thousands)June 27, 2026June 28, 2025
Additions to long-lived assets
United States$2,480 $5,330 
China6,054 3,996 
Mexico2,865 3,283 
Germany10,471 9,693 
Philippines3,624 1,388 
Other countries 5,919 3,096 
Total additions to long-lived assets$31,413 $26,786 

(a)Each country included in other countries was less than 10% of net sales.