Acquisition (Tables)

9 Months Ended

Oct. 02, 2026

Business Combination, Recognized Asset Acquired and Liability Assumed

Under the acquisition method of accounting, the Company makes an initial allocation of the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities from information obtained during due diligence and through other sources. The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the date of acquisition based on information that is currently available. The preliminary fair value of the assets acquired and liabilities assumed is determined based upon certain preliminary valuations and studies that have yet to be finalized. Accordingly, the assets acquired and liabilities assumed are subject to adjustment once the detailed analyses are completed, which adjustments could be material, management is continuing to finalize its valuation and will complete its purchase price allocation within one year of the date of acquisition.

The following summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of Acquisition:


Cash and cash equivalents	$	24,673
Trade receivables	60,002
Inventories	49,544

Goodwill	811,170
Intangible assets(3)	752,001

Deferred income taxes(3)	(179,054)
Other, net(1)(2)	(30,453)
	$	1,487,883

(1) Includes current and non-current amounts.

(2) Includes approximately $40 million of Lease assets - right of use and lease liability.

(3) During the three months ended October 2, 2026, as the Company continued its purchase price allocation analysis, it increased the preliminary fair value of acquired intangible assets and related deferred income taxes by approximately $17 million and $22 million, respectively.

The following summarizes the preliminary estimated fair value of significant, identifiable intangible assets acquired, excluding goodwill, as of June 1, 2026:


	Intangible Asset		Amortization Period
	(in thousands)		(years)
Customer relationships	$	580,000	12-16
Trade names	64,000		5-18
Technology	90,000		11
Backlog	18,001		2
	$	752,001

Business Combination, Pro Forma Information

The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have been achieved had the Acquisition been consummated as of that time:


	Three Months Ended				Nine Months Ended
	October 2, 2026		October 3, 2025		October 2, 2026		October 3, 2025
	(in thousands)
Net sales	$	824,521	$	780,389	$	2,474,386	$	2,279,907
Net income attributable to common stockholders	36,079		30,553		84,965		124,434