| RESTRUCTURING AND ASSET IMPAIRMENTS |
RESTRUCTURING AND ASSET IMPAIRMENTS The Company has undertaken restructuring actions within each of its reportable segments which include right-sizing the infrastructure, optimizing operations, and driving efficiency. This includes workforce right-sizing actions resulting in severance and transition costs; and costs related to the consolidation of facilities resulting in long-lived asset impairments (principally property, plant, and equipment and right-of-use assets), accelerated depreciation charges, and certain other costs. Generally, these actions are in response to recent macroeconomic impacts on the Company. The following table presents restructuring costs by reportable segment: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 27, 2026 | | June 28, 2025 | | June 27, 2026 | | June 28, 2025 | | (in thousands) | | RMS | $ | 7,748 | | | $ | 7,419 | | | $ | 25,380 | | | $ | 8,843 | | | DSA | 7,007 | | | 16,076 | | | 13,887 | | | 33,618 | | | Manufacturing | 717 | | | 7,444 | | | 1,179 | | | 11,155 | | | Unallocated corporate | 7,585 | | | 1,261 | | | 14,191 | | | 2,429 | | | Total | $ | 23,057 | | | $ | 32,200 | | | $ | 54,637 | | | $ | 56,045 | |
The following table presents restructuring costs as included within the Company’s unaudited condensed consolidated statements of income: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 27, 2026 | | June 28, 2025 | | Severance and Transition Costs | | Asset Impairments and Other Costs | | Total | | Severance and Transition Costs | | Asset Impairments and Other Costs | | Total | | (in thousands) | | Three Months Ended | | | | | | | | | | | | | Cost of services provided (excluding amortization of intangible assets) | $ | 1,436 | | | $ | 13,699 | | | $ | 15,135 | | | $ | (1,308) | | | $ | 26,451 | | | $ | 25,143 | | | Cost of products sold (excluding amortization of intangible assets) | (24) | | | 528 | | | 504 | | | (95) | | | 1,425 | | | 1,330 | | | Selling, general and administrative | 841 | | | 6,577 | | | 7,418 | | | 5,130 | | | 597 | | | 5,727 | | | Total restructuring costs | $ | 2,253 | | | $ | 20,804 | | | $ | 23,057 | | | $ | 3,727 | | | $ | 28,473 | | | $ | 32,200 | | | | | | | | | | | | | | | Six Months Ended | | | | | | | | | | | | | Cost of services provided (excluding amortization of intangible assets) | $ | 6,227 | | | $ | 34,893 | | | $ | 41,120 | | | $ | 6,390 | | | $ | 39,624 | | | $ | 46,014 | | | Cost of products sold (excluding amortization of intangible assets) | 1,175 | | | 1,719 | | | 2,894 | | | 168 | | | 2,658 | | | 2,826 | | | Selling, general and administrative | 1,069 | | | 9,554 | | | 10,623 | | | 5,583 | | | 1,622 | | | 7,205 | | | Total restructuring costs | $ | 8,471 | | | $ | 46,166 | | | $ | 54,637 | | | $ | 12,141 | | | $ | 43,904 | | | $ | 56,045 | |
Rollforward of Restructuring Activities The following table provides a rollforward for the Company’s accrued restructuring costs related to all restructuring activities: | | | | | | | | | | | | | | | | | | | | | | | | | Severance and Transition Costs | | Asset Impairments | | Other Costs | | Total | | (in thousands) | | Six Months Ended June 27, 2026 | | | | | | | | Beginning balance | $ | 23,005 | | | $ | — | | | $ | — | | | $ | 23,005 | | Expense | 8,471 | | | 26,086 | | | 20,080 | | | 54,637 | | Payments / utilization | (15,794) | | | — | | | (16,408) | | | (32,202) | | Other non-cash adjustments | — | | | (26,086) | | | (3,672) | | | (29,758) | | Foreign currency adjustments | (114) | | | — | | | — | | | (114) | | Ending Balance | $ | 15,568 | | | $ | — | | | $ | — | | | $ | 15,568 | | | | | | | | | | | Six Months Ended June 28, 2025 | | | | | | | | Beginning balance | $ | 24,469 | | | $ | — | | | $ | 875 | | | $ | 25,344 | | Expense | 12,141 | | | 31,062 | | | 12,842 | | | 56,045 | | Payments / utilization | (20,020) | | | — | | | (12,458) | | | (32,478) | | Other non-cash adjustments | — | | | (31,062) | | | (1,259) | | | (32,321) | | Foreign currency adjustments | 474 | | | — | | | — | | | 474 | | Ending Balance | $ | 17,064 | | | $ | — | | | $ | — | | | $ | 17,064 | |
As of June 27, 2026 and December 27, 2025, $15.6 million and $23.0 million, respectively, of severance and other personnel related costs liabilities were included in accrued compensation and accrued liabilities within the Company’s unaudited condensed consolidated balance sheets.
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