Segment Information (Tables)

3 Months Ended

Apr. 01, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information is summarized as follows: 

	Three Months Ended
(in thousands)	April 1, 2023		April 2, 2022
Net sales
Electronics	$	358,593	$	365,821
Transportation	166,641		184,504
Industrial	84,548		73,005
Total net sales	$	609,782	$	623,330
Depreciation and amortization
Electronics	$	19,788	$	15,393
Transportation	11,291		10,744
Industrial	3,403		2,161
Total depreciation and amortization	$	34,482	$	28,298
Operating income
Electronics	$	90,162	$	120,577
Transportation	8,532		26,308
Industrial	17,141		12,505
Other (a)	(5,194)		(8,800)
Total operating income	110,641		150,590
Interest expense	9,646		4,302
Foreign exchange (gain) loss	(1,675)		7,736
Other (income) expense, net	(6,233)		4,427
Income before income taxes	$	108,903	$	134,125

(a) Included in “Other” Operating income for the first quarter of 2023 was $3.3 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $1.9 million of restructuring, impairment and other charges, primarily related to employee termination costs. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion.

Included in “Other” Operating income for the first quarter of 2022 was $4.8 million of purchase accounting inventory step-up charges, $3.8 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $0.2 million 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
(in thousands)	April 1, 2023		April 2, 2022
Net sales
United States	$	212,195	$	220,238
China	133,467		164,782
Other countries (a)	264,120		238,310
Total net sales	$	609,782	$	623,330

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

(in thousands)	April 1, 2023		December 31, 2022
Long-lived assets
United States	$	77,246	$	76,325
China	135,233		129,094
Mexico	107,427		107,119
Germany	41,049		39,635
Philippines	77,314		77,240
Other countries (a)	54,099		51,697
Total long-lived assets	$	492,368	$	481,110

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

	Three Months Ended
(in thousands)	April 1, 2023		April 2, 2022
Additions to long-lived assets
United States	$	4,091	$	3,174
China	8,403		6,949
Mexico	3,744		7,918
Germany	1,234		918
Philippines	1,398		6,970
Other countries(a)	2,593		1,561
Total additions to long-lived assets	$	21,463	$	27,490

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