Postretirement Benefit Plans

6 Months Ended

Jun. 27, 2026

Retirement Benefits [Abstract]

Postretirement Benefit Plans

Postretirement Benefit Plans

Honeywell Sponsored Pension Plans

Prior to the Spin-off, certain employees of the Company participated in U.S. pension plans sponsored by Honeywell. For the purposes of the Condensed Combined Financial Statements, the Company accounts for these plans as multiemployer plans as they are not sponsored by the Company. Therefore, the related assets and liabilities are not reflected in the Condensed Combined Balance Sheets. For the three months ended June 27, 2026 and June 28, 2025, the expenses associated with these pension plans were not material to the Condensed Combined Financial Statements.

Following the Spin-off, the Company sponsors a defined benefit pension plan for these U.S. employees, with benefit obligations and corresponding assets transferred from the Honeywell plans in which these employees participated. Subsequent to the Spin-off, the Company accounts for this plan as a single

employer plan as it is sponsored by the Company. Therefore, the related assets and liabilities will be reflected in the Consolidated Balance Sheets beginning in the third quarter of 2026.

Company Sponsored Pension and Postretirement Benefit Plans

The Company sponsors a number of unfunded non-U.S. defined benefit pension plans. The largest plans are closed to new participants. The plans use a December 31 measurement date consistent with the Company’s fiscal year. As of June 27, 2026 and December 31, 2025, these pension plans were not material to the Condensed Combined Financial Statements.