v3.26.1
Segment Information
 6 Months Ended
Jul. 03, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company conducts its operations through two reportable segments. These segments consist of the “Americas,” which includes operations in North America and South America, and “EMEA & APAC,” which includes Europe, the Middle East, India, Africa and Asia Pacific.

The Company’s management considers its Chief Operating Decision Maker (“CODM”) to be Shyam Kambeyanda, President, Chief Executive Officer and Director. The Company’s management and CODM evaluate the operating results of each reportable segment, including assessment of profit or loss, performance and allocation of resources, based upon Net sales and Adjusted EBITDA, which represents Net income from continuing operations excluding the impact of Income tax expense, Interest expense and other, net, Restructuring and other related charges, acquisition transaction, due diligence and integration expenses, amortization of intangibles and fair value step up on acquired inventories, depreciation and other amortization and compensation expense related to the Performance Option Awards. Segment results reflect the allocation of overhead costs, which primarily consist of Selling, general and administrative expense.

The Company’s segment results were as follows:
Three Months EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
(In thousands)
Net sales:
Americas$315,884 $282,729 $604,249 $563,394 
EMEA & APAC491,743 432,857 948,975 830,330 
$807,627 $715,586 $1,553,224 $1,393,724 
Cost of sales:
Americas$189,542 $171,558 $366,412 $342,166 
EMEA & APAC310,874 277,981 604,489 530,309 
$500,416 $449,539 $970,901 $872,475 
Allocated operating expense:
Americas$15,286 $10,077 $28,756 $27,517 
EMEA & APAC23,795 24,365 45,147 51,159 
$39,081 $34,442 $73,903 $78,676 
Other operating expense:
Americas$47,021 $44,331 $89,041 $82,428 
EMEA & APAC69,728 43,776 131,447 82,747 
$116,749 $88,107 $220,488 $165,175 
Adjusted EBITDA(1):
Americas$64,035 $56,763 $120,040 $111,283 
EMEA & APAC87,338 86,735 167,892 166,115 
$151,373 $143,498 $287,932 $277,398 
Depreciation, amortization and other impairment charges:
Americas$12,934 $8,644 $21,607 $16,848 
EMEA & APAC14,934 10,711 30,129 19,998 
$27,868 $19,355 $51,736 $36,846 
Capital expenditures:
Americas$7,227 $4,381 $11,619 $8,116 
EMEA & APAC10,518 4,799 19,829 8,358 
$17,745 $9,180 $31,448 $16,474 
                                 
(1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA.
Three Months EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
(In thousands)
Net income from continuing operations$36,401 $69,812 $88,192 $142,376 
Income tax expense 11,701 18,283 24,812 38,782 
Interest expense and other, net30,623 20,999 56,200 37,781 
Restructuring and other related charges(1)
18,317 1,390 28,478 5,889 
Acquisition - amortization and other related charges(2)
41,308 21,592 64,102 31,193 
Depreciation and other amortization12,335 11,422 25,460 21,377 
Performance option awards compensation expense(3)
688 — 688 — 
Adjusted EBITDA$151,373 $143,498 $287,932 $277,398 
                                 
(1) Includes severance and other termination benefits, including outplacement services, as well as the cost of relocating associates, relocating equipment, lease termination expenses, impairment of long-lived assets, costs associated with disposing of discontinued products and other costs in connection with the closure and optimization of facilities and product lines.
(2) Includes transaction, diligence and integration expenses totaling $24.8 million and $35.1 million for the three and six months ended July 3, 2026, respectively, and $12.8 million and $14.2 million for the three and six months ended July 4, 2025, respectively. Additionally, it includes amortization of intangibles and fair value step up on acquired inventories totaling $16.5 million and $29.0 million for the three and six months ended July 3, 2026, respectively, and $8.8 million and $17.0 million for the three and six months ended July 4, 2025, respectively.
(3) Represents the impact of the Performance Option Awards granted in June and July 2026. These awards were non-cash, one-time, non-recurring grants with a different structure and size than the Company’s annual equity compensation program. Refer to Note 12, “Equity” for further details on these awards.

The Company’s investments in equity method investees and total assets by segment were as follows:
July 3, 2026December 31, 2025
(In thousands)
Investments in equity method investees:
Americas$— $— 
EMEA & APAC25,723 29,558 
$25,723 $29,558 
Total assets:
Americas$3,169,393 $1,717,390 
EMEA & APAC3,393,218 3,048,704 
$6,562,611 $4,766,094 
The Company’s property, plant and equipment, net by geography were as follows:
July 3, 2026December 31, 2025
(In thousands)
Property, plant and equipment, net(1):
United States$72,020 $72,617 
Czech Republic72,862 75,028 
Germany45,409 48,245 
India30,897 31,437 
Mexico26,365 23,464 
Other foreign countries142,295 131,085 
$389,848 $381,876 
                                 
(1) As the Company does not allocate all long-lived assets, specifically intangible assets, to each individual country, evaluation of long-lived assets in total is impracticable.