Divestitures |
6 Months Ended |
|---|---|
Jun. 28, 2026 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Divestitures | Divestitures During the second quarter of 2026, the Company completed the sale of a previously closed manufacturing facility, which was part of the AA&S Segment. A $9.9 million gain on the sale of the facility is reported in gain/loss on asset sales and sales of businesses, net, on the consolidated statement of operations for the quarter and year-to-date period ended June 28, 2026. The Company received proceeds, net of transaction costs, from the sale of $9.8 million during the third quarter of 2026. During the first quarter of 2025, the Company completed the sale of certain immaterial, non-core operations in Birmingham, UK and Dusseldorf, Germany, which were part of our European business in the HPMC Segment. A $3.7 million loss on sale of these operations is reported in gain/loss on asset sales and sales of businesses, net, on the consolidated statement of operations for the year-to-date period ended June 29, 2025, and is excluded from segment results. The Company received proceeds, net of transaction costs, of $5.0 million during fiscal year 2025. As of December 28, 2025, the Company expected to receive additional proceeds of $4.9 million, of which, $1.6 million was received during the year-to-date period ended June 28, 2026. These proceeds are reported as an investing activity on the consolidated statement of cash flows.
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