Segment Information (Tables)

9 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information is summarized as follows: 

	Three Months Ended				Nine Months Ended
(in thousands)	October 1, 2022		September 25, 2021		October 1, 2022		September 25, 2021
Net sales
Electronics	$	397,629	$	347,240	$	1,121,626	$	959,122
Transportation	181,735		124,415		548,266		386,262
Industrial	79,516		67,926		230,754		181,479
Total net sales	$	658,880	$	539,581	$	1,900,646	$	1,526,863
Depreciation and amortization
Electronics	$	19,080	$	15,503	$	48,984	45,998
Transportation	11,331		7,075		32,703		21,094
Industrial	2,180		2,058		6,522		5,957
Total depreciation and amortization	$	32,591	$	24,636	$	88,209	$	73,049
Operating income
Electronics	$	113,140	$	100,524	$	339,675	$	230,283
Transportation	12,987		15,806		57,604		55,380
Industrial	12,178		6,571		39,968		18,452
Other(a)	(16,435)		(2,794)		(30,623)		(11,270)
Total operating income	121,870		120,107		406,624		292,845
Interest expense	8,399		4,602		17,069		13,901
Foreign exchange loss	18,191		3,154		40,051		8,315
Other (income) expense, net	(698)		(1,240)		9,789		(10,867)
Income before income taxes	$	95,978	$	113,591	$	339,715	$	281,496

(a) Included in “Other” Operating income for the third quarter of 2022 was $6.8 million ($11.6 million year-to-date) of purchase accounting inventory step-up charges, $6.2 million ($14.8 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $3.4 million ($4.3 million year-to-date) of restructuring, impairment and other charges, primarily related to employee termination costs. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion.

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

The Company’s net sales by country were as follows: 

	Three Months Ended				Nine Months Ended
(in thousands)	October 1, 2022		September 25, 2021		October 1, 2022		September 25, 2021
Net sales
United States	$	244,907	$	172,995	$	689,888	$	458,723
China	165,091		160,628		492,195		455,872
Other countries(a)	248,882		205,958		718,563		612,268
Total net sales	$	658,880	$	539,581	$	1,900,646	$	1,526,863

 The Company’s long-lived assets by country were as follows:

(in thousands)	October 1, 2022		January 1, 2022
Long-lived assets
United States	$	76,191	$	57,923
China	120,079		122,867
Mexico	105,290		107,283
Germany	36,033		39,055
Philippines	74,967		74,918
Other countries(a)	45,674		35,843
Total long-lived assets	$	458,234	$	437,889

The Company’s additions to long-lived assets by country were as follows:

	Nine Months Ended
(in thousands)	October 1, 2022		September 25, 2021
Additions to long-lived assets
United States	$	9,761	$	3,696
China	23,449		13,790
Mexico	21,169		22,518
Germany	3,246		6,994
Philippines	13,118		10,109
Other countries(a)	4,269		3,527
Total additions to long-lived assets	$	75,012	$	60,634

(a)Each country included in other countries is less than 10% of net sales.