v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 26, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting
The Company has provided this segment information for comparable prior periods. Segment information is summarized as follows:
Three Months EndedNine Months Ended
(in thousands)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Net sales
Electronics$426,239 $357,457 $1,195,434 $1,000,372 
Transportation182,643 171,311 535,435 512,573 
Industrial157,847 95,872 431,610 279,415 
Total net sales$766,729 $624,640 $2,162,479 $1,792,360 
Other segment expenses (b)
Electronics$323,889 $293,817 $935,889 $840,105 
Transportation155,313 151,124 458,311 445,395 
Industrial124,502 78,954 350,030 230,560 
Total other segment expenses$603,704 $523,895 $1,744,230 $1,516,060 
Segment operating income
Electronics$102,350 $63,640 $259,545 $160,267 
Transportation27,330 20,187 77,124 67,178 
Industrial33,345 16,918 81,580 48,855 
Total segment operating income163,025 100,745 418,249 276,300 
Other (a)
(9,669)(3,329)(44,004)(15,956)
Total operating income153,356 97,416 374,245 260,344 
Interest expense5,689 8,578 18,405 26,021 
Foreign exchange loss (gain)1,697 175 (876)15,466 
Other income, net(4,244)(6,053)(7,293)(14,020)
Income before income taxes$150,214 $94,716 $364,009 $232,877 
 
(a) Included in "Other" Operating income for the third quarter of 2026 was $4.7 million ($19.0 million year-to-date) of restructuring charges primarily related to employee termination costs and a $1.3 million non-cash impairment charge related to the acquired customer relationships from the acquisition of Dortmund Fab in the semiconductor business within the Electronics segment. In addition, for the third quarter of 2026, the Company recognized fixed asset impairment charges of $0.2 million ($13.4 million year-to-date) primarily related to the announced closure and/or disposition of two manufacturing sites for the semiconductor business within the Electronics segment. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion. In addition, during the third quarter of 2026, the Company recognized $3.5 million ($5.0 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions. During the first quarter of 2026, the Company recognized a $5.4 million of purchase accounting inventory step-up adjustment related to the Basler acquisition.

Included in "Other" Operating income for the third quarter of 2025 was $1.6 million ($13.1 million year-to-date) of restructuring charges primarily related to employee termination costs. During the first quarter of 2025, the Company recognized a $0.1 million impairment charge related to certain machinery and equipment within the Electronics segment. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion. In addition, during the third quarter of 2025, the Company recognized $1.4 million ($3.0 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and a $0.3 million loss related to the sale of the Marine business within the
Transportation segment. During the first quarter of 2025, the Company recognized a $0.5 million purchase accounting inventory step-down adjustment related to the Dortmund Fab acquisition.

(b) Other segment operating expenses include cost of sales, selling, general, and administrative expenses, and research and development expenses. Other segment expenses are reconciled to the operating income of each segment. The CODM regularly assesses the performance of each operating segment focusing on each operating segment’s revenue and operating income.

The Company’s depreciation and amortization expenses by segment for the three and nine months ended September 26, 2026 and September 27, 2025 were as follows:
Three Months EndedNine Months Ended
(in thousands)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Depreciation
Electronics$12,004 $11,950 $35,954 $35,912 
Transportation5,630 5,127 16,159 15,944 
Industrial2,174 1,497 6,514 4,523 
Total depreciation$19,808 $18,574 $58,627 $56,379 
Amortization
Electronics$7,610 $10,249 $24,234 $30,124 
Transportation2,748 3,431 8,875 10,186 
Industrial4,290 1,357 12,743 3,910 
Total amortization$14,648 $15,037 $45,852 $44,220 
Schedule of Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset
The Company’s net sales by country were as follows, classified according to the country where the customer is located: 
Three Months EndedNine Months Ended
(in thousands)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Net sales
United States$289,166 $218,532 $786,093 $636,390 
China197,460 146,045 537,430 421,782 
Other countries (a)
280,103 260,063 838,956 734,188 
Total net sales$766,729 $624,640 $2,162,479 $1,792,360 
 
The Company’s long-lived assets represent net property, plant, and equipment, and are classified according to the country where the asset is located. The Company's long-lived assets were as follows:
(in thousands)September 26, 2026December 27, 2025
Long-lived assets
United States$74,412 $95,619 
China130,011 130,047 
Mexico75,916 83,478 
Germany108,560 110,246 
Philippines59,378 61,591 
Other countries 59,472 59,659 
Total long-lived assets$507,749 $540,640 
 
The Company’s additions to net property, plant, and equipment by country were as follows:
Nine Months Ended
(in thousands)September 26, 2026September 27, 2025
Additions to long-lived assets
United States$5,022 $8,724 
China9,597 8,385 
Mexico4,616 4,953 
Germany12,133 14,958 
Philippines6,588 3,266 
Other countries 10,678 4,800 
Total additions to long-lived assets$48,634 $45,086 

(a)Each country included in other countries was less than 10% of net sales.