Acquisitions (Tables)

3 Months Ended

Mar. 29, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Consideration Paid for the Acquired Assets

A summary of the consideration paid for the acquired Orbit business is as follows (in millions):

Cash paid	$	352.7
Total consideration	$	352.7

A summary of the consideration paid for the acquired Nomad business is as follows (in millions):

Common stock issued	$	88.8
Cash paid	37.0
Holdback - contingent consideration	10.0
Holdback - compliance, tax and other	8.0
Holdback - indemnification escrow	5.0
Total consideration	$	148.8

A summary of the consideration paid for the acquired assets is as follows (in millions):

Common stock issued and cash paid	$	32.3
Holdback, net of $1.1 million purchase price adjustment	4.9
Total consideration	$	37.2

Schedule of Preliminary Allocation of the Purchase Price Over the Estimated Fair Values

The following table summarizes the preliminary allocation of the purchase price over the estimated fair values of the Orbit assets acquired and liabilities assumed (in millions):

Cash	$	42.3
Accounts receivable	26.6
Inventory	18.8
Other current assets	7.0
Property and equipment	15.6
Intangible assets	114.8
Other assets	0.5
Total assets acquired	225.6
Total liabilities assumed	(60.4)
Goodwill	187.5
Net assets acquired	$	352.7

The following table summarizes the preliminary allocation of the purchase price over the estimated fair values of the Nomad assets acquired and liabilities assumed ($ in millions):

Accounts receivable	$	14.3
Inventory	4.1
Other current assets	2.0
Property and equipment	20.9
Intangible assets	56.8
Other assets	16.3
Total assets acquired	114.4
Total liabilities assumed	(66.5)
Goodwill	100.9
Total assets acquired	$	148.8

The following table summarizes the allocation of the purchase price over the estimated fair values of the Norden assets acquired and liabilities assumed (in millions):

Accounts receivable	$	1.8
Inventory	6.1
Other current assets	0.1
Property and equipment	1.5
Intangible assets	9.7
Deferred tax asset	1.2
Total assets acquired	20.4
Total liabilities assumed	(10.1)
Goodwill	26.9
Total assets acquired	$	37.2

Schedule of Finite-Lived Intangible Assets

Based on the Company’s preliminary estimate of fair value as of March 2, 2026, the identifiable intangible assets include the amounts in the following table ($ in millions):

Intangible	Estimated Life	Value
Customer relationships	10	24.7
Contracts and backlog	2	21.5
Developed technology	5	9.9
Trade names	7	58.7
Total		$	114.8

Based on the Company’s preliminary estimate of fair value as of February 11, 2026, the identifiable intangible assets include the amounts in the following table (in millions):

Intangible	Estimated Life	Value
Customer relationships	10	12.2
Contracts and backlog	2	10.7
Developed technology	5	4.9
Trade names	7	29.0
Total		$	56.8

The following table sets forth information for finite-lived and indefinite-lived intangible assets (in millions): 

	As of March 29, 2026						As of December 28, 2025
	Gross Value		Accumulated Amortization		Net Value		Gross Value		Accumulated Amortization		Net Value
Acquired finite-lived intangible assets:
Customer relationships	$	123.6	$	(69.3)	$	54.3	$	86.7	$	(68.2)	$	18.5
Contracts and backlog	86.7		(50.3)		36.4		54.5		(47.7)		6.8
Non-compete Agreements	0.5		(0.1)		0.4		0.5		(0.1)		0.4
Developed technology and technical know-how	49.9		(31.4)		18.5		35.1		(30.8)		4.3
Trade names	92.1		(4.9)		87.2		4.4		(3.5)		0.9
In-process research and development	16.8		(0.8)		16.0		16.8		(0.7)		16.1
Total finite-lived intangible assets	369.6		(156.8)		212.8		198.0		(151.0)		47.0
Indefinite-lived trade names	6.9		—		6.9		6.9		—		6.9
Total intangible assets	$	376.5	$	(156.8)	$	219.7	$	204.9	$	(151.0)	$	53.9