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

	For the First Quarter Ended March 30, 2025
	Americas		Europe		APMEA		Total
	(in millions)
Net sales
Net sales from external customers	$	418.1	$	108.4	$	31.5	$	558.0
Intersegment sales		2.2		8.2		24.9		35.3
Total segment net sales	$	420.3	$	116.6	$	56.4	$	593.3
Reconciliation of net sales
Elimination of intersegment sales								(35.3)
Total consolidated net sales							$	558.0
Less (a)
Segment cost of goods sold		204.0		74.5		41.3
Segment selling, general and administrative		104.8		24.7		8.9
Segment research and development		13.7		2.3		0.7
Segment earnings		97.8		15.1		5.5		118.4
Reconciliation of segment earnings to income before income taxes
Segment special items (b)								(18.4)
Corporate operating loss (c)								(12.3)
Consolidated operating income								87.7
Interest income								(2.3)
Interest expense								2.7
Other income, net								0.4
Income before income taxes							$	86.9

	For the First Quarter Ended March 31, 2024
	Americas		Europe		APMEA		Total
	(in millions)
Net sales
Net sales from external customers	$	418.8	$	123.3	$	28.8	$	570.9
Intersegment sales		2.6		5.8		21.4		29.8
Total segment net sales	$	421.4	$	129.1	$	50.2	$	600.7
Reconciliation of net sales
Elimination of intersegment sales								(29.8)
Total consolidated net sales							$	570.9
Less (a)
Segment cost of goods sold		211.1		81.5		36.2
Segment selling, general and administrative		102.5		25.3		8.2
Segment research and development		15.1		2.9		0.6
Segment earnings		92.7		19.4		5.2		117.3
Reconciliation of segment earnings to income before income taxes
Segment special items (b)								(6.4)
Corporate operating loss (c)								(14.2)
Consolidated operating income								96.7
Interest income								(2.1)
Interest expense								4.2
Other income, net								(0.6)
Income before income taxes							$	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.

(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.

(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.

	First Quarter Ended
	March 30,		March 31,
	2025		2024
	(in millions)
Capital expenditures
Americas	$	6.5	$	7.4
Europe		2.8		2.4
APMEA		0.3		0.3
Consolidated capital expenditures	$	9.6	$	10.1
Depreciation and amortization
Americas	$	10.8	$	10.4
Europe		2.4		2.3
APMEA		0.5		0.6
Consolidated depreciation and amortization	$	13.7	$	13.3

	March 30,		December 31,
	2025		2024
	(in millions)
Identifiable assets (at end of period)
Americas	$	1,765.7	$	1,728.0
Europe		579.5		534.1
APMEA		155.5		134.9
Consolidated identifiable assets	$	2,500.7	$	2,397.0
Property, plant and equipment, net (at end of period)
Americas	$	182.7	$	182.9
Europe		69.9		67.0
APMEA		5.0		4.9
Consolidated property, plant and equipment, net	$	257.6	$	254.8

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

	First Quarter Ended
	March 30,		March 31,
	2025		2024
	(in millions)
U.S. net sales	$	394.1	$	392.6