Segment and Geographic Information

6 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

Segment results are as follows:

	For the Three Months Ended				For the Six Months Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Net Sales:
Light Duty	$	385,358	$	353,839	$	744,651	$	701,922
Heavy Duty	61,189		69,007		118,998		136,654
Specialty Vehicle	56,404		57,722		108,003		108,730
Total	$	502,951	$	480,568	$	971,652	$	947,306
Segment profit:
Light Duty	$	65,912	$	41,013	$	123,707	$	62,460
Heavy Duty	2,721		3,386		2,730		8,734
Specialty Vehicle	10,030		9,705		17,199		16,785
Total	$	78,663	$	54,104	$	143,636	$	87,979

A reconciliation of segment profit to income before income taxes is as follows:

	For the Three Months Ended				For the Six Months Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Segment profit	$	78,663	$	54,104	$	143,636	$	87,979
Acquisition-related intangible assets amortization	(5,481)		(5,418)		(10,965)		(10,851)
Acquisition-related transaction and other costs	(448)		(5,866)		(931)		(14,415)
Executive transition services expenses	—		(22)		—		—
Pretax reduction in workforce costs	(282)		—		(4,850)		(1,801)
Fair value adjustment to contingent consideration	—		12,400		—		12,400
Interest expense, net	(10,202)		(12,565)		(20,807)		(24,518)
Other income (expense), net	136		396		96		753
Income before income taxes	$	62,386	$	43,029	$	106,179	$	49,547

The following table presents our net sales by geographic region:

	Three Months Ended				Six Months Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Net sales to U.S. customers	$	462,514	$	438,300	$	891,369	$	868,993
Net sales to non-U.S. customers	40,437		42,268		80,283		78,313
Total	$	502,951	$	480,568	$	971,652	$	947,306