v3.26.3
Acquisitions (Tables)
 9 Months Ended
Sep. 26, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Basler acquisition:
(in thousands)Purchase Price
Allocation
Total purchase consideration:
Cash, net of cash acquired$351,964 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net14,739 
Inventories20,703 
Other current assets4,152 
Property, plant, and equipment21,532 
Intangible assets145,000 
Goodwill159,822 
Other long-term assets4,146 
Current liabilities(15,380)
Other long-term liabilities(2,750)
$351,964 
The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Dortmund Fab acquisition:
(in thousands)Purchase Price
Allocation
Total purchase consideration:
Cash, net of cash acquired$95,942 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables5,985 
Inventories6,600 
Other current assets8,278 
Property, plant, and equipment30,132 
Intangible assets1,800 
Goodwill57,321 
Other long-term assets8,579 
Current liabilities(7,464)
Other long-term liabilities(15,289)
$95,942 
Schedule of Business Acquisition, Pro Forma Information
The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company, Basler and Dortmund Fab as though the acquisitions had occurred as of December 31, 2023. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the Basler and Dortmund Fab acquisitions occurred as of December 31, 2023, or of future consolidated operating results.

For the Three Months EndedFor the Nine Months Ended
(in thousands, except per share amounts)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Net sales$766,729 $660,279 $2,162,479 $1,896,740 
Income before income taxes150,214 98,708 369,837 241,980 
Net income115,377 72,556 284,358 176,975 
Net income per share — basic4.542.92 11.26 7.14 
Net income per share — diluted4.492.89 11.12 7.08 
Schedule of Business Acquisition, Pro Forma Information, Non-recurring Adjustments
Pro forma results presented above primarily reflect the following adjustments:

For the Three Months EndedFor the Nine Months Ended
(in thousands)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Amortization (a)$— $(2,583)$— $(7,748)
Depreciation— (184)— (677)
Amortization of inventory adjustments (b)— — 5,333 (504)
Transaction costs (c)— 614 495 577 
Income tax benefit (expense) of above items— 517 (1,399)2,037 
Total$— $(1,636)$4,429 $(6,315)

(a) The amortization adjustment for the three and nine months ended September 27, 2025, primarily reflects amortization resulting from the measurement of intangibles at their fair values.
(b) The amortization of inventory adjustments reflects the reversal of the amount recognized during the nine months ended September 26, 2026 and September 27, 2025. The inventory adjustment related to the Basler acquisition was fully amortized over three months as the inventory was sold during the first quarter of 2026. The inventory adjustment related to the Dortmund Fab acquisition was fully amortized over two months as the inventory was sold during 2025.
(c) The transaction costs adjustment reflects the reversal of certain legal and professional fees related to the Basler and Dortmund Fab acquisitions for the nine months ended September 26, 2026 and September 27, 2025, respectively.