XML 43 R31.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information (Tables)
3 Months Ended
Mar. 30, 2025
Segment Information  
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

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For the First Quarter Ended March 30, 2025

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Americas

    

Europe

    

APMEA

    

Total

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(in millions)

Net sales

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Net sales from external customers

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$

418.1

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$

108.4

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$

31.5

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$

558.0

Intersegment sales

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2.2

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8.2

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24.9

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35.3

Total segment net sales

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$

420.3

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$

116.6

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$

56.4

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$

593.3

Reconciliation of net sales

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Elimination of intersegment sales

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(35.3)

Total consolidated net sales

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$

558.0

Less (a)

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Segment cost of goods sold

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204.0

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74.5

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41.3

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Segment selling, general and administrative

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104.8

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24.7

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8.9

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Segment research and development

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13.7

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2.3

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0.7

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Segment earnings

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97.8

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15.1

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5.5

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118.4

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Reconciliation of segment earnings to income before income taxes

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Segment special items (b)

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(18.4)

Corporate operating loss (c)

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(12.3)

Consolidated operating income

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87.7

Interest income

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(2.3)

Interest expense

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2.7

Other income, net

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0.4

Income before income taxes

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$

86.9

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For the First Quarter Ended March 31, 2024

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Americas

    

Europe

    

APMEA

    

Total

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(in millions)

Net sales

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Net sales from external customers

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$

418.8

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$

123.3

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$

28.8

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$

570.9

Intersegment sales

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2.6

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5.8

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21.4

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29.8

Total segment net sales

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$

421.4

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$

129.1

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$

50.2

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$

600.7

Reconciliation of net sales

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Elimination of intersegment sales

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(29.8)

Total consolidated net sales

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$

570.9

Less (a)

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Segment cost of goods sold

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211.1

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81.5

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36.2

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Segment selling, general and administrative

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102.5

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25.3

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8.2

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Segment research and development

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15.1

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2.9

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0.6

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Segment earnings

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92.7

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19.4

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5.2

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117.3

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Reconciliation of segment earnings to income before income taxes

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Segment special items (b)

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(6.4)

Corporate operating loss (c)

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(14.2)

Consolidated operating income

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96.7

Interest income

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(2.1)

Interest expense

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4.2

Other income, net

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(0.6)

Income before income taxes

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$

95.2

(a)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. Significant segment expenses exclude certain expenses incurred and benefits recognized, see footnote (b) below. Intersegment expenses are included within the amounts shown.

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(b)Segment special items are excluded from segment earnings and defined as non-recurring and unusual expenses incurred or benefits recognized such as restructuring costs, acquisition-related costs, and gain on sale of assets.

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(c)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. Corporate special items are included within the amounts shown and consist of acquisition-related costs.

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First Quarter Ended

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March 30,

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March 31,

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2025

    

2024

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(in millions)

Capital expenditures

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Americas

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$

6.5

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$

7.4

Europe

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2.8

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2.4

APMEA

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0.3

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0.3

Consolidated capital expenditures

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$

9.6

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$

10.1

Depreciation and amortization

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Americas

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$

10.8

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$

10.4

Europe

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2.4

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2.3

APMEA

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0.5

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0.6

Consolidated depreciation and amortization

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$

13.7

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$

13.3

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March 30,

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December 31,

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2025

    

2024

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(in millions)

Identifiable assets (at end of period)

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Americas

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$

1,765.7

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$

1,728.0

Europe

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579.5

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534.1

APMEA

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155.5

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134.9

Consolidated identifiable assets

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$

2,500.7

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$

2,397.0

Property, plant and equipment, net (at end of period)

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Americas

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$

182.7

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$

182.9

Europe

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69.9

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67.0

APMEA

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5.0

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4.9

Consolidated property, plant and equipment, net

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$

257.6

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$

254.8

Schedule of U.S. net sales and U.S. property, plant and equipment of the Company's Americas segment

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First Quarter Ended

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March 30,

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March 31,

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2025

    

2024

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(in millions)

U.S. net sales

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$

394.1

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$

392.6

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