Restructuring, Integration, and Other (Tables)
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6 Months Ended |
Jul. 04, 2026 |
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| Restructuring, Integration, and Other |
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| Schedule of components of the restructuring, integration, and other charges |
| | | | | | | | | | | | | | | Quarter Ended | | Six Months Ended | | | July 4, | | June 28, | | July 4, | | June 28, | (thousands) | | 2026 | | 2025 | | 2026 | | 2025 | Restructuring, integration and related costs | | | | | | | | | | | | | Operating Expense Efficiency Plan costs (a) | | $ | 18,326 | | $ | 19,946 | | $ | 49,411 | | $ | 28,631 | Other plans | | | 2,962 | | | 582 | | | 5,053 | | | 1,883 | Other expenses | | | | | | | | | | | | | Operating expense reduction costs not related to restructuring initiatives (b) | | | (49) | | | (1,821) | | | 491 | | | 1,928 | Other charges | | | 2,900 | | | 3,212 | | | 5,848 | | | 6,790 | | | $ | 24,139 | | $ | 21,919 | | $ | 60,803 | | $ | 39,232 |
| (a) | See details related to the Operating Expense Efficiency Plan discussed below. |
| (b) | Primarily related to employee severance and benefit costs. As of July 4, 2026, the accrued liabilities related to these costs totaled $12.5 million and substantially all accrued amounts are expected to be spent in cash within two years. |
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| Operating Expense Efficiency Plan costs |
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| Restructuring, Integration, and Other |
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| Schedule of components of the restructuring, integration, and other charges |
| | | | | | | | | | | | | | | | | | | | | | Quarter Ended | | Six Months Ended | | Total Cost | | | | | July 4, | | June 28, | | July 4, | | June 28, | | Incurred to | (thousands) | | Income Statement Line | | 2026 | | 2025 | | 2026 | | 2025 | | Date | Employee severance and benefit costs | | Restructuring, integration, and other | | $ | 4,062 | | $ | 12,659 | | $ | 16,305 | | $ | 19,413 | | $ | 101,310 | Inventory (recoveries) write-downs | | Cost of sales | | | (2,970) | | | (2,172) | | | (5,218) | | | (4,639) | | | 34,860 | Business wind down costs (a) | | Restructuring, integration, and other | | | 14,264 | | | - | | | 22,830 | | | - | | | 27,475 | Other costs (b) | | Restructuring, integration, and other | | | - | | | 7,287 | | | 10,276 | | | 9,218 | | | 36,987 | | | | | $ | 15,356 | | $ | 17,774 | | $ | 44,193 | | $ | 23,992 | | $ | 200,632 |
| (a) | Business wind down costs consist primarily of CTA write-offs and asset impairments. |
Other costs consist primarily of consulting and other professional fees and early lease termination fees.
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| Schedule of activity in the restructuring, integration, and other accruals |
| | | | | | | | | | | | | | | | (thousands) | | Employee Severance and Benefit Costs | | Inventory Recoveries | | Business Wind Down Costs | | Other Costs | | Total | Balance at December 31, 2025 | | $ | 51,247 | | $ | - | | $ | - | | $ | 5,227 | | $ | 56,474 | Restructuring related charges | | | 16,305 | | | (5,218) | | | 22,830 | | | 10,276 | | | 44,193 | Asset write-offs and other non-cash activity | | | - | | | - | | | (22,830) | | | - | | | (22,830) | Cash (payments) receipts | | | (34,626) | | | 5,218 | | | - | | | (15,294) | | | (44,702) | Foreign currency translations | | | (1,213) | | | - | | | - | | | (55) | | | (1,268) | Balance at July 4, 2026 | | $ | 31,713 | | $ | - | | $ | - | | $ | 154 | | $ | 31,867 |
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