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Subsequent Event
3 Months Ended
Apr. 03, 2026
Subsequent Events [Abstract]  
Subsequent Event SUBSEQUENT EVENTS
In April 2026, the Company entered into an agreement to sell its Teletrac Navman business for an estimated $220.0 million, consisting of cash, a seller’s note and a retained minority interest in the Teletrac Navman business. The transaction is expected to close in the second fiscal quarter of 2026, subject to customary closing conditions.

The Company determined that the Teletrac Navman business, which is presented in the Company’s Mobility Technologies segment, met the criteria for held for sale presentation subsequent to the first quarter balance sheet date. As part of the accounting for the transaction, the Company will record the assets and liabilities of the disposal group at the lower of fair value less costs to sell or the carrying value. Based on preliminary information, the Company currently expects to recognize a loss related to the transaction between $60.0 million and $110.0 million. As the Company has not yet completed its analysis, the loss currently expected to be recognized during the second fiscal quarter of 2026 could differ materially from the Company’s preliminary estimate.
The operations of the Teletrac Navman business do not meet the criteria to be presented as discontinued operations.