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Segment Reporting
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Reporting
In the third quarter of 2023, in order to align its segment financial reporting with a change in its business structure, the Company realigned its segments. Following the segment realignment, the Company’s three reportable segments are as follows: (1) Materials Solutions, (2) Microcontamination Control, and (3) Advanced Materials Handling. The current interim and succeeding annual periods will disclose the reportable segments with prior periods recast to reflect the change.
The Company’s financial segment reporting reflects an organizational alignment intended to leverage the Company’s unique breadth of capabilities to create mission-critical advanced materials, microcontamination control products, and advanced materials handling solutions that maximize manufacturing yields, reduce manufacturing costs and enable higher device performance for its customers. While these segments have separate products and technical know-how, they share common business systems and processes, technology centers, and strategic and technology roadmaps. The Company leverages its expertise from these three segments to create new and increasingly integrated solutions for its customers. The Company reports its financial performance in the following segments:
•Materials Solutions: MS provides advanced consumable materials, such as chemical mechanical planarization (“CMP”) slurries and pads, deposition materials, process chemistries and gases, formulated cleans, etchants and other specialty materials, that enable our customers’ technical roadmap, improve device performance, lower their total cost of ownership and enhance their yields.
•Microcontamination Control: MC offers solutions to filter and purify critical liquid and gaseous chemistries used in semiconductor manufacturing processes and other high-technology industries.
•Advanced Materials Handling: AMH develops solutions to monitor, protect, transport and deliver critical liquid chemistries, wafers and other substrates for a broad set of applications in the semiconductor industry, life sciences and other high-technology industries.
Summarized financial information for the Company’s reportable segments is shown in the following tables.
 Three months endedNine months ended
(In thousands)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Net sales
MS$435,538 $518,046 $1,324,502 $922,196 
MC286,217 280,550 839,128 821,320 
AMH180,248 210,405 589,457 632,602 
Inter-segment elimination(13,764)(15,173)(41,452)(40,155)
Total net sales$888,239 $993,828 $2,711,635 $2,335,963 
 Three months endedNine months ended
(In thousands)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Segment profit
MS(1) (2)
$56,955 $53,131 $243,171 $147,700 
MC101,132 105,335 297,790 304,062 
AMH31,642 42,077 115,637 135,693 
Total segment profit$189,729 $200,543 $656,598 $587,455 
1) Materials Solutions segment profit is inclusive of a $154.8 million gain, net on the termination of the Alliance Agreement for the nine months ended September 30, 2023. See Note 5 to the Company’s condensed consolidated financial statements for further discussion.
2) Materials Solutions segment profit is inclusive of a $15.9 million and $104.8 million goodwill impairment charge relating to the EC reporting unit for the three and nine months ended September 30, 2023, respectively. See Note 3 to the Company’s condensed consolidated financial statements for further discussion.
The following table reconciles total segment profit to income before income tax (benefit) expense:
 Three months endedNine months ended
(In thousands)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Total segment profit$189,729 $200,543 $656,598 $587,455 
Less:
Amortization of intangible assets51,239 65,346 163,493 90,491 
Unallocated general and administrative expenses21,429 120,308 94,964 160,759 
Operating income117,061 14,889 398,141 336,205 
Interest expense77,820 84,150 244,874 129,027 
Interest income(2,226)(1,395)(5,854)(2,065)
Other expense, net10,243 12,852 13,309 27,373 
Income before income tax (benefit) expense $31,224 $(80,718)$145,812 $181,870 
In the following tables, revenue is disaggregated by customers’ country or region based on the ship to location of the customer for the three and nine months ended September 30, 2023 and October 1, 2022, respectively.
Three months ended September 30, 2023
(In thousands)MS MCAMHInter-segment Total
North America$141,427 $42,115 $52,130 $(13,764)$221,908 
Taiwan61,094 61,710 28,249 — 151,053 
China47,012 60,009 38,409 — 145,430 
South Korea50,085 28,978 23,303 — 102,366 
Japan26,364 57,472 10,279 — 94,115 
Europe63,346 19,951 17,213 — 100,510 
Southeast Asia46,210 15,982 10,665 — 72,857 
$435,538 $286,217 $180,248 $(13,764)$888,239 
Three months ended October 1, 2022
(In thousands)MS MCAMHInter-segmentTotal
North America$155,877 $42,716 $67,794 $(15,173)$251,214 
Taiwan73,066 70,536 38,712 — 182,314 
China79,845 58,398 28,717 — 166,960 
South Korea59,932 30,583 29,339 — 119,854 
Japan32,167 42,505 16,336 — 91,008 
Europe63,375 20,977 18,401 — 102,753 
Southeast Asia53,784 14,835 11,106 — 79,725 
$518,046 $280,550 $210,405 $(15,173)$993,828 
Nine Months Ended September 30, 2023
(In thousands)MS MCAMHInter-segment Total
North America$429,637 $129,827 $184,003 $(41,452)$702,015 
Taiwan176,414 169,933 93,691 — 440,038 
China145,675 170,381 105,422 — 421,478 
South Korea162,341 88,631 84,943 — 335,915 
Japan81,434 165,014 33,363 — 279,811 
Europe192,578 71,602 61,099 — 325,279 
Southeast Asia136,423 43,740 26,936 — 207,099 
$1,324,502 $839,128 $589,457 $(41,452)$2,711,635 

Nine Months Ended October 1, 2022
(In thousands)MS MCAMHInter-segmentTotal
North America$273,948 $113,984 $205,414 $(40,155)$553,191 
Taiwan139,378 232,711 111,722 — 483,811 
China139,184 142,639 87,347 — 369,170 
South Korea109,175 93,718 89,367 — 292,260 
Japan76,861 137,103 44,701 — 258,665 
Europe92,485 60,670 65,976 — 219,131 
Southeast Asia91,165 40,495 28,075 — 159,735 
$922,196 $821,320 $632,602 $(40,155)$2,335,963