Balance Sheet Details

12 Months Ended

Dec. 28, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Balance Sheet Details

The detail of certain assets in the consolidated balance sheets consists of the following:

Cash and cash equivalents

The Company’s cash equivalents consist of overnight cash sweep accounts that are invested on a daily basis. Cash and cash equivalents at December 28, 2025 and December 29, 2024 were $560.6 million and $329.3 million, respectively, and approximated their fair value.

Accounts receivable, net and Unbilled receivables, net

Receivables including amounts due under long-term contracts are summarized as follows (in millions):

	December 28, 2025		December 29, 2024
Billed, current	$	165.9	$	118.5
Unbilled, current	292.5		206.4
Total current accounts receivable	458.4		324.9
Allowance for doubtful accounts	(1.0)		(1.1)
Total accounts receivable and unbilled receivables, net	$	457.4	$	323.8

Substantially all accounts receivable at December 28, 2025, are expected to be collected in 2026. The Company does not believe it has significant exposure to credit risk, as accounts receivable and the related unbilled amounts are primarily from contracts associated with the U.S. Government.

U.S. Government contract receivables where the Company is the prime contractor included in accounts receivable, net (in millions):

	December 28, 2025		December 29, 2024
Billed	$	25.4	$	11.6
Unbilled	88.3		61.2
Total U.S. Government contract receivables	$	113.7	$	72.8

Inventoried costs (in millions): 

	December 28, 2025		December 29, 2024
Raw materials	$	109.4	$	90.1
Work in process	71.9		67.7
Finished goods	6.9		4.3
Total inventoried costs	$	188.2	$	162.1

Property, plant and equipment, net (in millions)

	December 28, 2025		December 29, 2024
Finance lease right of use assets	$	103.7	$	71.0
Land and buildings	40.5		41.3
Computer equipment and software	71.0		63.0
Machinery and equipment	201.0		178.2
Furniture and office equipment	9.3		8.6
Leasehold improvements	43.0		30.8
Construction in progress	103.9		81.8
Property and equipment	572.4		474.7
Accumulated depreciation and amortization	(210.5)		(186.5)
Total property and equipment, net	$	361.9	$	288.2

Depreciation expense was $37.5 million, $31.7 million and $26.4 million for the years ended December 28, 2025, December 29, 2024, and December 31, 2023, respectively.