v3.26.1
ACQUISITIONS AND DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 27, 2026
Acquisitions and Discontinued Operations [Abstract]  
Schedule of Business Combination
The following is a summary of the recorded preliminary fair values of the assets acquired and liabilities assumed for Crawford United as of February 6, 2026:

Assets acquired:
Current assets, including cash and equivalents of $0.6
$22.0 
Property, plant and equipment4.0 
Goodwill131.1 
Intangible assets128.1 
Other assets6.0 
Assets held for sale (Non-core businesses)80.2 
Total assets acquired371.4 
Current liabilities assumed14.8 
Non-current liabilities assumed (1)
36.5 
Liabilities held for sale (Non-core businesses)20.1 
Net assets acquired$300.0 
___________________________
(1)Includes net deferred income tax liabilities and other liabilities of $32.1 and $4.4, respectively.
The following is a summary of the recorded preliminary fair values of the assets acquired and liabilities assumed for Thermolec as of January 20, 2026:

Assets acquired:
Current assets, including cash and equivalents of $1.3
$11.1 
Property, plant and equipment0.8 
Goodwill75.0 
Intangible assets79.4 
Other assets1.2 
Total assets acquired167.5 
Current liabilities assumed4.4 
Non-current liabilities assumed (1)
21.6 
Net assets acquired$141.5 
___________________________
(1)Includes net deferred income tax liabilities and other liabilities of $20.9 and $0.7, respectively.
The following is a summary of the recorded final fair values of the assets acquired and liabilities assumed for Sigma & Omega as of April 15, 2025:
Assets acquired:
Current assets, including cash and equivalents of $0.2
$17.1 
Property, plant and equipment1.3 
Goodwill76.1 
Intangible assets77.6 
Other assets1.2 
Total assets acquired173.3 
Current liabilities assumed9.3 
Non-current liabilities assumed (1)
20.5 
Net assets acquired$143.5 
___________________________
(1)Includes net deferred income tax liabilities and other liabilities of $19.9 and $0.6, respectively.
The following is a summary of the recorded final fair values of the assets acquired and liabilities assumed for KTS as of January 27, 2025:

Assets acquired:
Current assets(1)
$60.8 
Property, plant and equipment5.6 
Goodwill104.4 
Intangible assets164.5 
Other assets(1)
25.6 
Total assets acquired360.9 
Current liabilities assumed16.5 
Non-current liabilities assumed4.4 
Net assets acquired$340.0 
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(1)Includes $26.2 and $20.3 within “Current assets” and “Other assets”, respectively, for deferred compensation assets related to the employee retention agreements discussed previously.
The assets and liabilities of DBT have been included within “Assets of DBT and Heat Transfer” and “Liabilities of DBT and Heat Transfer,” respectively, on the condensed consolidated balance sheets as of June 27, 2026 and December 31, 2025. The major line items constituting DBT’s assets and liabilities as of June 27, 2026 and December 31, 2025 are shown below:

June 27, 2026December 31, 2025
ASSETS
Cash and equivalents$1.7 $2.0 
Other current assets(1)
3.8 3.8 
Total assets of DBT$5.5 $5.8 
LIABILITIES
Accounts payable(1)
$0.1 $0.1 
Contract liabilities(1)
2.4 2.3 
Accrued expenses(1)
7.0 7.0 
Other long-term liabilities(1)
4.7 4.7 
Total liabilities of DBT$14.2 $14.1 
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(1) Balances relate primarily to disputed amounts due to or from a subcontractor, engaged by DBT during the Kusile project, that is currently in liquidation. The timing of the ultimate resolution of these matters is uncertain as they are likely to occur as part of the liquidation process.
Schedule of Business Combination, Pro Forma Information
The following unaudited pro forma information presents our condensed consolidated results of operations for the three and six months ended June 27, 2026 and June 28, 2025, respectively, as if the acquisitions of Crawford and Thermolec had taken place on January 1, 2025 and the acquisition of KTS had taken place on January 1, 2024. The unaudited pro forma financial information is not intended to represent or be indicative of our condensed consolidated results of operations that would have been reported had the acquisitions been completed as of the date presented, and should not be taken as representative of our future consolidated results of operations. The pro forma results include estimates and assumptions that management believes are reasonable; however, these results do not include any anticipated cost savings or expenses of the planned integration of Crawford, Thermolec or KTS. These pro forma condensed consolidated results of operations have been prepared for comparative purposes only and include additional interest expense on the borrowings required to finance the acquisitions, additional depreciation and amortization expense associated with fair value adjustments to the acquired property, plant and equipment, intangible assets and compensation costs related to acquired retention agreements, adjustments to reflect charges associated with acquisition-related costs and charges associated with the excess fair value (over historical cost) of inventory acquired and subsequently sold as if they were incurred beginning during the first quarter of 2025 for Crawford and Thermolec and the first quarter of 2024 for KTS, and the related income tax effects.

Three months endedSix months ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Revenues$679.0 $585.6 $1,255.5 $1,103.8 
Income from continuing operations79.2 61.5 148.0 115.6 
Net income78.1 61.2 142.4 114.8 
Income from continuing operations per share of common stock:
Basic$1.58 $1.32 $2.96 $2.48 
Diluted$1.56 $1.30 $2.93 $2.45 
Net income per share of common stock:
Basic$1.56 $1.31 $2.85 $2.46 
Diluted$1.54 $1.29 $2.81 $2.43 
Schedule Acquisition Related and Other Costs
During the three and six months ended June 27, 2026 and June 28, 2025 we incurred acquisition and integration-related costs of $4.6 and $12.3, and $8.3 and $16.9, respectively. In addition, we recorded these amounts as shown below within consolidated operating income in Note 6:

Acquisition and integration-related costs
Three months endedSix months ended
Affected line item in Note 6June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Corporate expense$1.4 $1.4 $4.1 $3.6 
Acquisition and integration-related costs3.2 6.9 8.2 13.3 
Consolidated operating income$4.6 $8.3 $12.3 $16.9 
Schedule of Discontinued Operations
For the six months ended June 27, 2026, results of operations from the Non-core businesses prior to their sale were as follows:
Six months ended
June 27, 2026
Income from discontinued operations$2.2 
Income tax provision(0.6)
Income from discontinued operations, net$1.6 
For the three and six months ended June 27, 2026 and June 28, 2025, results of operations from our businesses reported as discontinued operations (excluding the Non-core businesses) were as follows:
Three months endedSix months ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Loss from discontinued operations(1)
$(1.1)$(0.3)$(1.2)$(0.8)
Income tax benefit (provision)0.2 — (0.1)— 
Loss from discontinued operations, net$(0.9)$(0.3)$(1.3)$(0.8)
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(1)Loss for the three and six months ended June 27, 2026 and June 28, 2025 related primarily to costs incurred to support DBT through the subcontractor liquidation process mentioned above as well as revisions to liabilities retained in connections with prior dispositions.