Acquisitions (Tables)

6 Months Ended

Jun. 28, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Combination, Recognized Asset Acquired and Liability Assumed

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of cash acquired	$	95,942
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables	5,985
Inventories	6,600
Other current assets	8,278
Property, plant, and equipment	30,132
Intangible assets	1,800
Goodwill	57,534
Other long-term assets	8,579
Current liabilities	(7,464)
Other long-term liabilities	(15,502)
	$	95,942

Schedule of Business Acquisition, Pro Forma Information

The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company and Dortmund Fab as though the acquisition had occurred as of December 31, 2023. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the Dortmund Fab acquisition occurred as of December 31, 2023, or of future consolidated operating results.

	For the Three Months Ended				For the Six Months Ended
(in thousands, except per share amounts)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Net sales	$	613,413	$	570,489	$	1,167,720	$	1,117,390
Income before income taxes	78,214		62,323		137,620		119,333
Net income	57,342		46,272		100,534		95,637
Net income per share — basic	2.32		1.86		4.06		3.85
Net income per share — diluted	2.30		1.85		4.03		3.81

Schedule of Business Acquisition, Pro Forma Information, Non-recurring Adjustments

Pro forma results presented above primarily reflect the following adjustments:

	For the Three Months Ended				For the Six Months Ended
(in thousands)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Amortization of unfavorable production contract (a)	$	—	$	567	$	—	$	1,135
Amortization of inventory step-down (b)	—		—		(504)		510
Depreciation	—		(274)		—		(549)
Amortization (c)	—		(94)		—		(188)
Transaction costs (d)	—		16		(37)		(380)
Income tax (expense) benefit of above items	—		(65)		162		(158)

(a) The amortization of the unfavorable production contract during the three and six months ended June 29, 2024 results from the fair value assigned to the unfavorable production contract liability that is amortized over four years.

(b) The amortization of the inventory step-down adjustment reflects the reversal of the amount recognized during the six months ended June 28, 2025, and the recognition of the amortization during the six months ended June 29, 2024. The inventory step-down was fully amortized over two months as the inventory was sold.

(c) The amortization adjustment for the three and six months ended June 29, 2024 primarily reflects amortization resulting from the measurement of intangibles at their fair values.

(d) The transaction costs adjustment reflects certain legal and professional fees for the six months ended June 28, 2025 and three and six months ended June 29, 2024, respectively.