Segment Information (Tables)

6 Months Ended

Jun. 25, 2023

Segment Information

Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

	Second Quarter Ended				Six Months Ended
	June 25,		June 26,		June 25,		June 26,
	2023		2022		2023		2022
	(in millions)
Net sales
Americas	$	366.9	$	375.9	$	690.1	$	689.8
Europe		135.6		127.9		263.9		257.8
APMEA		30.3		22.8		50.5		42.2
Consolidated net sales	$	532.8	$	526.6	$	1,004.5	$	989.8
Operating income (loss)
Americas	$	91.6	$	85.5	$	164.1	$	143.4
Europe		21.5		19.6		40.7		40.7
APMEA		2.5		3.6		6.5		6.6
Subtotal reportable segments		115.6		108.7		211.3		190.7
Corporate(*)		(15.2)		(12.8)		(26.2)		(23.3)
Consolidated operating income		100.4		95.9		185.1		167.4
Interest income		(1.3)		—		(1.7)		(0.1)
Interest expense		1.7		1.7		3.2		3.1
Other (income) expense, net		(0.6)		—		(0.5)		0.3
Income before income taxes	$	100.6	$	94.2	$	184.1	$	164.1
Capital expenditures
Americas	$	4.9	$	4.3	$	8.1	$	7.8
Europe		1.3		2.8		3.1		4.9
APMEA		0.3		0.4		0.4		0.4
Consolidated capital expenditures	$	6.5	$	7.5	$	11.6	$	13.1
Depreciation and amortization
Americas	$	7.4	$	6.7	$	14.5	$	13.7
Europe		2.3		2.8		4.7		5.5
APMEA		0.6		0.5		1.1		1.1
Consolidated depreciation and amortization	$	10.3	$	10.0	$	20.3	$	20.3
Identifiable assets (at end of period)
Americas					$	1,259.1	$	1,223.6
Europe						588.1		569.1
APMEA						157.2		141.6
Consolidated identifiable assets					$	2,004.4	$	1,934.3
Property, plant and equipment, net (at end of period)
Americas					$	123.0	$	123.6
Europe						68.9		65.8
APMEA						4.4		4.6
Consolidated property, plant and equipment, net					$	196.3	$	194.0

*     Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs.

Schedule of U.S. net sales of the Company's Americas segment

	Second Quarter Ended				Six Months Ended
	June 25,		June 26,		June 25,		June 26,
	2023		2022		2023		2022
	(in millions)
U.S. net sales	$	343.0	$	352.1	$	647.3	$	646.3

Schedule of intersegment sales for Americas, EMEA and Asia-Pacific

	Second Quarter Ended				Six Months Ended
	June 25,		June 26,		June 25,		June 26,
	2023		2022		2023		2022
	(in millions)
Intersegment Sales
Americas	$	2.0	$	2.4	$	4.0	$	5.4
Europe		8.3		6.9		13.9		14.0
APMEA		28.5		29.0		50.6		52.5
Intersegment sales	$	38.8	$	38.3	$	68.5	$	71.9