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Segment Information
 9 Months Ended
Sep. 27, 2025
Notes To Financial Statements [Abstract]  
Segment Information Segment Information
An operating segment is defined as a component of an enterprise, which has discrete financial information that is evaluated regularly. The company determined that its Chief Executive Officer is the Chief Operating Decision Maker (the "CODM"), who possesses the ultimate authority with respect to assessment of performance, allocation of resources, and all strategic actions of the company. In performing this responsibility, the CODM regularly reviews key internal management reports, financial information including forecasts, and quarterly results, which are prepared at the operating segment level.

In accordance with ASC 280-10, Segment Reporting, the company operates in three reportable operating segments defined by management reporting structure and operating activities. The company’s reportable segments are: (i) the Commercial Foodservice Equipment Group, (ii) the Food Processing Equipment Group, and (iii) the Residential Kitchen Equipment Group.
Adjusted EBITDA is the profitability metric reported to the CODM for the purposes of making decisions about allocation of resources to each segment and assessing performance of each segment. The company defines Adjusted EBITDA as operating income less depreciation, intangible amortization, restructuring, acquisition related adjustments, impairments, stock compensation and other non-recurring items, which management considers to be outside core operating results. The CODM reviews this metric regularly to compare the profitability of segments, identify trends, and evaluate which segments require additional resources or strategic adjustments. The CODM uses Adjusted EBITDA to support the allocation of resources predominantly in the annual budget and forecasting process. The company believes that investors find this measure useful in comparing our operating performance to that of other companies in our industry because this measure generally illustrates the underlying performance of the business.

Management believes that inter-segment sales are made at established arm's length transfer prices. All inter-segment transactions are eliminated and values are presented net of eliminations. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Additional detail about each of the reportable segments and its corporate income and expenses is set forth below:

The Commercial Foodservice Equipment Group manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry. The Food Processing Equipment Group manufactures preparation, cooking, packaging food handling and food safety equipment for the food processing industry. The Residential Kitchen Equipment Group manufactures, sells and distributes kitchen equipment for the residential market.

See Note 1 - Summary of Significant Accounting Policies, Basis of Presentation regarding reclassifications in the current year and prior year segment balances.

Net Sales Summary
(dollars in thousands)
 Three Months EndedNine Months Ended
 Sep 27, 2025Sep 28, 2024Sep 27, 2025Sep 28, 2024
 SalesPercentSalesPercentSalesPercentSalesPercent
Business Segments:    
Commercial Foodservice$606,001 61.7 %$591,717 62.7 %$1,749,323 61.0 %$1,782,940 62.3 %
Food Processing201,353 20.5 177,874 18.9 585,454 20.4 538,460 18.8 
Residential Kitchen174,777 17.8 173,218 18.4 531,840 18.6 539,881 18.9 
    Total$982,131 100.0 %$942,809 100.0 %$2,866,617 100.0 %$2,861,281 100.0 %
The following table summarizes the results of operations for the company's business segments(1) (dollars in thousands):
 Commercial
 Foodservice		Food ProcessingResidential Kitchen
Corporate
and Other(2)
Total
Three Months Ended September 27, 2025    
Net sales$606,001 $201,353 $174,777 $— $982,131 
Cost of sales367,878 132,314 120,486 147 620,825 
Other segment items (3)
76,501 31,420 37,152 19,829 164,902 
Segment adjusted EBITDA (4)
161,622 37,619 17,139 (19,976)196,404 
Depreciation expense (5)
7,095 3,298 4,291 551 15,235 
Amortization expense (6)
10,657 3,013 1,858 2,067 17,595 
Net capital expenditures7,016 9,478 3,505 267 20,266 
Nine Months Ended September 27, 2025
Net sales$1,749,323 $585,454 $531,840 $— $2,866,617 
Cost of sales1,044,777 374,546 369,005 (241)1,788,087 
Other segment items (3)
234,969 97,377 106,477 61,030 499,853 
Segment adjusted EBITDA (4)
469,577 113,531 56,358 (60,789)578,677 
Depreciation expense (5)
20,636 9,284 12,595 2,074 44,589 
Amortization expense (6)
32,903 8,556 5,477 5,640 52,576 
Net capital expenditures22,219 35,201 17,092 405 74,917 
Total assets3,572,486 1,384,806 1,258,818 138,550 6,354,660 
Three Months Ended September 28, 2024    
Net sales$591,717 $177,874 $173,218 $— $942,809 
Cost of sales357,922 108,647 120,421 385 587,375 
Other segment items (3)
70,533 26,340 32,063 13,526 142,462 
Segment adjusted EBITDA (4)
163,262 42,887 20,734 (13,911)212,972 
Depreciation expense (5)
6,897 2,722 3,906 450 13,975 
Amortization expense (6)
11,479 1,736 1,814 1,776 16,805 
Net capital expenditures5,967 3,667 1,809 46 11,489 
Nine Months Ended September 28, 2024 
Net sales$1,782,940 $538,460 $539,881 $— $2,861,281 
Cost of sales1,073,670 328,618 378,925 (1,366)1,779,847 
Other segment items (3)
222,493 81,459 111,515 50,822 466,289 
Segment adjusted EBITDA (4)
486,777 128,383 49,441 (49,456)615,145 
Depreciation expense (5)
20,419 7,435 11,680 1,295 40,829 
Amortization expense (6)
37,801 5,451 5,415 5,341 54,008 
Net capital expenditures16,221 8,058 10,828 1,062 36,169 
Total assets3,687,621 1,015,528 1,963,444 534,488 7,201,081 
(1)Non-operating expenses are not allocated to the reportable segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
(2)Includes corporate and other general company assets and operations.
(3)Other segment items for each reportable segment includes operating expenses, which primarily consist of selling, general and administrative expenses. Other segment items excludes the impact of depreciation, intangible amortization, restructuring, impairments, stock compensation and other items that neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance.
(4)Excludes the impacts mentioned in Other segment items. 
(5)Includes depreciation on right of use assets.
(6)Includes amortization of deferred financing costs and Convertible Notes issuance costs.


A reconciliation of our segment information for earnings before income taxes to the corresponding amounts in the Consolidated Statements of Earnings is shown in the table below for the periods presented:
Three Months EndedNine Months Ended
 Sep 27, 2025Sep 28, 2024Sep 27, 2025Sep 28, 2024
Adjusted EBITDA$196,404 $212,972 $578,677 $615,145 
Less: Other segment operating expenses (1)
750,653 39,533 836,936 128,865 
Income from operations(554,249)173,439 (258,259)486,280 
Interest expense and deferred financing amortization, net25,147 21,399 63,355 72,239 
Net periodic pension benefit(1,576)(3,876)(4,653)(11,244)
Other expense (income), net1,132 1,239 7,540 995 
Earnings before income taxes(578,952)154,677 (324,501)424,290 
Provision for income taxes(65,974)40,511 (9,831)108,161 
Net earnings$(512,978)$114,166 $(314,670)$316,129 

(1) Consists of the impact of depreciation, intangible amortization, restructuring, impairments, stock compensation and other items that neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance.
Geographic Information
Long-lived assets, not including goodwill and other intangibles (in thousands):
 Sep 27, 2025Sep 28, 2024
United States and Canada$521,052 $473,941 
Asia38,088 40,953 
Europe and Middle East319,620 225,847 
Latin America10,759 10,958 
Total international$368,467 $277,758 
 $889,519 $751,699