Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 27, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The amounts for goodwill and changes in the carrying value of goodwill by segment for the nine months ended September 27, 2025 were as follows:

(in thousands)	Electronics		Transportation		Industrial		Total
Net goodwill as of December 28, 2024
Gross goodwill as of December 28, 2024	$	906,871	$	233,286	$	173,882	$	1,314,039
Accumulated impairment losses as of December 28, 2024	—		(41,645)		(43,892)		(85,537)
Total	906,871		191,641		129,990		1,228,502
Changes during 2025:
Additions (a)	57,321		—		—		57,321
Foreign currency translation adjustments	58,108		5,442		6,665		70,215
Net goodwill as of September 27, 2025
Gross goodwill as of September 27, 2025	1,022,300		241,368		185,157		1,448,825
Accumulated impairment losses as of September 27, 2025	—		(44,285)		(48,502)		(92,787)
Total	1,022,300		197,083		136,655		1,356,038

(a) The additions resulted from the acquisition of Dortmund Fab.

Schedule of Finite-Lived Intangible Assets

The components of intangible assets as of September 27, 2025 and December 28, 2024 were as follows:

	As of September 27, 2025
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	16,410	$	3,431	$	12,979
Patents, licenses, and software	274,617		205,666		68,951
Distribution network	42,307		42,307		—
Customer relationships, trademarks, and tradenames	657,090		280,244		376,846
Total	$	990,424	$	531,648	$	458,776

	As of December 28, 2024
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	16,079	$	2,994	$	13,085
Patents, licenses, and software	260,096		180,674		79,422
Distribution network	41,667		41,667		—
Customer relationships, trademarks, and tradenames	632,572		242,961		389,611
Total	$	950,414	$	468,296	$	482,118

Business Combination, Intangible Asset, Acquired, Finite-Lived

During the nine months ended September 27, 2025, the Company recorded additions to intangible assets of $1.8 million related to the Dortmund Fab acquisition, the components of which were as follows:

(in thousands)	Weighted Average Useful Life	Amount
Customer relationships, trademarks, and tradenames	5	$	1,800
Total		$	1,800

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated annual amortization expense related to intangible assets with definite lives as of September 27, 2025 was as follows:

(in thousands)	Amount
Remainder of 2025	$	14,953
2026	48,722
2027	46,551
2028	46,149
2029	45,738
2030 and thereafter	256,663
Total	$	458,776