v3.26.1
Balance Sheet Information and Other Supplemental Disclosures (Tables)
 6 Months Ended
Jul. 03, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Goodwill
The following table summarizes goodwill by operating and reportable segments (in millions): 
PSGAMGISGTotal
Balances as of December 31, 2025 (1)
$703.9 $851.7 $124.3 $1,679.9 
Addition related to business acquisition— 7.7 — 7.7 
Balances as of July 3, 2026 (1)
$703.9 $859.4 $124.3 $1,687.6 
(1)Net of accumulated goodwill impairment losses of $31.9 million in the PSG reportable segment and $748.9 million in the AMG reportable segment as of July 3, 2026 and December 31, 2025.
Schedule of Inventories
Details of inventories were as follows (in millions):
As of
July 3, 2026December 31, 2025
Inventories:
Raw materials$266.5 $263.6 
Work in process1,446.5 1,388.9 
Finished goods334.5 337.1 
Total$2,047.5 $1,989.6 
Schedule of Net Periodic Pension Expense
The components of the net periodic pension expense were as follows (in millions):
Quarters EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
Service cost$1.0 $1.1 $2.0 $2.2 
Interest cost1.4 1.4 2.8 2.7 
Expected return on plan assets(1.1)(1.2)(2.2)(2.4)
Curtailment losses— — — 1.5 
Total$1.3 $1.3 $2.6 $4.0 
Schedule of Components of Lease Expense The components of lease expense (including accelerated amortization related to ROU asset abandonment discussed in Note 5) were as follows (in millions):
Quarters EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
Operating lease$10.9 $20.5 $49.7 $38.3 
Variable lease1.5 1.8 3.3 2.9 
Short-term lease0.4 0.7 0.8 1.5 
Total$12.8 $23.0 $53.8 $42.7 
The operating lease liabilities and operating ROU assets recognized in the Consolidated Balance Sheets were as follows (in millions):
As of
July 3, 2026December 31, 2025
Operating lease liabilities included in:
Accrued expenses and other current liabilities$24.0 $33.9 
Other long-term liabilities202.3 214.5 
Total$226.3 $248.4 
Operating ROU assets included in:
Other assets$161.1 $200.8 
Schedule of Cash and Non-Cash Activities
Certain of the cash and non-cash activities were as follows (in millions):
Six Months Ended
July 3, 2026July 4, 2025
Non-cash investing activities:
Capital expenditures in accounts payable and other long-term liabilities$61.7 $111.6 
Operating ROU assets obtained in exchange for lease liabilities2.5 13.1 
Cash paid for:
Interest expense$18.6 $29.3 
Income taxes97.4 86.5 
Operating lease payments in operating cash flows21.1 34.8 
Schedule of Cash and Cash Equivalents
The following table shows a reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions):
As of
July 3, 2026December 31, 2025July 4, 2025December 31, 2024
Consolidated Balance Sheets:
Cash and cash equivalents$3,514.5 $2,147.6 $2,526.7 $2,691.3 
Restricted cash (included in other current assets)1.4 1.4 2.9 2.1 
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows$3,515.9 $2,149.0 $2,529.6 $2,693.4 
Schedule of Restrictions on Cash and Cash Equivalents
The following table shows a reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions):
As of
July 3, 2026December 31, 2025July 4, 2025December 31, 2024
Consolidated Balance Sheets:
Cash and cash equivalents$3,514.5 $2,147.6 $2,526.7 $2,691.3 
Restricted cash (included in other current assets)1.4 1.4 2.9 2.1 
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows$3,515.9 $2,149.0 $2,529.6 $2,693.4