v3.26.3
Restructuring, Impairment, and Other Charges
 9 Months Ended
Sep. 26, 2026
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Other Charges Restructuring, Impairment, and Other Charges
The Company recorded restructuring, impairment, and other charges for the three and nine months ended September 26, 2026 and September 27, 2025 as follows:

Three Months Ended September 26, 2026Nine Months Ended September 26, 2026
(in thousands)ElectronicsTransportationIndustrialTotalElectronicsTransportationIndustrialTotal
Employee terminations$2,042 $367 $1,985 $4,394 $10,000 $3,780 $3,061 $16,841 
Other restructuring charges237 25 — 262 1,971 141 — 2,112 
Total restructuring charges2,279 392 1,985 4,656 11,971 3,921 3,061 18,953 
Impairment 1,566 — — 1,566 14,464 248 — 14,712 
   Total$3,845 $392 $1,985 $6,222 $26,435 $4,169 $3,061 $33,665 

 Three Months Ended September 27, 2025Nine Months Ended September 27, 2025
(in thousands)ElectronicsTransportationIndustrialTotalElectronicsTransportationIndustrialTotal
Employee terminations$496 $1,097 $— $1,593 $6,400 $5,579 $436 $12,415 
Other restructuring charges30 10 — 40 548 58 1 607 
Total restructuring charges526 1,107 — 1,633 6,948 5,637 437 13,022 
Impairment — — — — 136 — — 136 
   Total$526 $1,107 $— $1,633 $7,084 $5,637 $437 $13,158 
2026
For the three and nine months ended September 26, 2026, the Company recorded total restructuring charges of $4.7 million and $19.0 million, respectively, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions for the semiconductor business within the Electronics segment and across the commercial vehicle business within the Transportation segment and industrial control and sensor products within the Industrial segment. During the three months ended September 26, 2026, the Company recorded a non-cash impairment charge of $1.3 million related to the impairment of acquired customer relationships from the acquisition of Dortmund Fab in the Semiconductor business within the Electronics segment. In addition, for the three and nine months ended September 26, 2026, the Company recognized fixed asset impairment charges of $0.2 million and $13.4 million, respectively, primarily related to the announced closure and/or disposition of two manufacturing sites for the semiconductor business within the Electronics segment.

2025
For the three and nine months ended September 27, 2025, the Company recorded total restructuring charges of $1.6 million and $13.0 million, respectively, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and corporate support functions for the semiconductor business within the Electronics segment and across all businesses within the Transportation segment. In addition, during the first fiscal quarter of 2025, the Company recognized a $0.1 million impairment charge related to certain machinery and equipment within the Electronics segment.

The restructuring reserves as of September 26, 2026 and December 27, 2025 were $6.4 million and $6.0 million, respectively, included within Accrued liabilities. Additionally, $0.2 million and $0.3 million were included within Other long-term liabilities in the Condensed Consolidated Balance Sheets as of September 26, 2026 and December 27, 2025, respectively. The Company anticipates the remaining payments associated with employee terminations will substantially be completed during fiscal year 2027.