Other Expense (Income), net (Tables)

3 Months Ended

Mar. 30, 2024

Other Income and Expenses [Abstract]

Other expense (income), net

Other expense, net for the three months ended March 30, 2024 consists of the following:

	Three months ended
(In thousands)	March 30, 2024		April 1, 2023
Infineum termination fee, net	$	—	$	(10,876)
Loss on foreign currency transactions	1,642		2,401
Loss on extinguishment of debt and modification	11,551		3,880
Other, net	1,092		(63)
Other expense (income), net	$	14,285	$	(4,658)

Infineum termination fee, net

On October 11, 2022, the Company and Infineum USA L.P. (“Infineum”) entered into a definitive agreement for the sale of the Company’s PIM business. On February 10, 2023, the Company terminated the definitive agreement. In accordance with the terms of the definitive agreement, the Company received a $12.0 million termination fee from Infineum in the first quarter of 2023 and incurred a transaction fee of $1.1 million to the third-party financial adviser it had engaged to assist with the transaction.