Restructuring

9 Months Ended

Sep. 26, 2025

Restructuring and Related Activities [Abstract]

In fiscal year 2024, the Company announced restructuring plans that were both designed to reduce costs and expenses in response to macroeconomic conditions and operating performance at the time the actions were announced. These actions impacted all three of our business segments as well as Corporate. When completed, the restructuring programs are expected to result in the reduction in annual cost of sales and operating expenses.

In 2025, the Company continued to implement restructuring actions, primarily in our Precision Optics segment. In connection with these actions, we recorded restructuring expenses of $0.2 million and $2.7 million in the three and nine months ended September 26, 2025, respectively, and $1.5 million and $6.2 million in the three and nine months ended September 27, 2024, respectively, all of which were associated with workforce reduction, including severance and other personnel-related costs. We expect to substantially complete the remaining restructuring activities by the end of fiscal year 2025.

The activity in the accrued balances incurred in relation to restructuring during the nine months ended September 26, 2025, and September 27, 2024, were as follows:


	Reduction in Force
(Thousands)	Performance Materials		Electronic Materials		Precision Optics		Other		Consolidated
Balance at December 31, 2024	$	56	$	293	$	60	$	408	$	817
Additional Charges	481		789		1,428		31		2,729
Cash Payments	(537)		(1,067)		(1,457)		(325)		(3,386)
Balance at September 26, 2025	$	—	$	15	$	31	$	114	$	160


	Reduction in Force
(Thousands)	Performance Materials		Electronic Materials		Precision Optics		Other		Consolidated
Balance at December 31, 2023	$	2	$	388	$	—	$	—	$	390
Additional Charges	1,441		1,804		1,198		1,718		6,161
Cash Payments	(1,270)		(2,019)		(755)		(1,154)		(5,198)
Balance at September 27, 2024	$	173	$	173	$	443	$	564	$	1,353