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Operating Segments and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Operating Segments and Geographic Information Operating Segments and Geographic Information
We are organized around two global businesses: Smart Infrastructure Solutions and Automation Solutions. As Belden continues to advance forward with solutions focused on data infrastructure, we renamed our two reportable segments during 2024 from Enterprise Solutions and Industrial Automation Solutions to Smart Infrastructure Solutions and Automation Solutions, respectively. The composition of the segments did not change as a result of these name changes.
Each of the global businesses represents a reportable segment. Our chief operating decision maker is our President and Chief Executive Officer. The key measure of segment profit or loss used by him to review segment operating results is Segment EBITDA. Segment EBITDA excludes certain items, including depreciation expense; amortization of intangibles; asset impairment; severance, restructuring, and acquisition integration costs; adjustments related to acquisitions and divestitures; and other costs. We allocate corporate expenses to the segments for purposes of measuring Segment EBITDA. Corporate expenses are allocated on the basis of each segment’s relative EBITDA prior to the allocation. Segment Revenues represent non-affiliate revenues.
Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing.
Operating Segment Information
Years Ended December 31,
 202420232022
 (In thousands)
Smart Infrastructure Solutions
Segment Revenues$1,143,790 $1,122,831 $1,198,478 
Affiliate Revenues142 127 633 
Segment Cost of Sales(789,272)(774,958)(852,231)
Segment Selling, General and Administrative Expenses(177,414)(171,873)(160,802)
Segment Research and Development Expenses(37,154)(27,020)(24,561)
    Segment EBITDA$140,092 $149,107 $161,517 
Segment assets$663,623 $637,105 $593,653 
Expenditures of property, plant and equipment$33,343 $36,237 $33,535 
Items excluded from segment measures:
    Depreciation expense$26,231 $24,943 $23,387 
    Amortization of intangibles28,642 20,085 17,595 
    Amortization of software development intangible assets12 — 54 
    Adjustments related to acquisitions and divestitures3,572 5,359 5,589 
    Severance, restructuring, and acquisition integration costs15,165 11,221 9,200 
Years Ended December 31,
 202420232022
 (In thousands)
Automation Solutions
Segment Revenues$1,317,189 $1,389,253 $1,408,007 
Affiliate Revenues801 1,296 442 
Segment Cost of Sales(701,251)(739,129)(792,681)
Segment Selling, General and Administrative Expenses(275,024)(278,406)(260,694)
Segment Research and Development Expenses(71,949)(85,686)(77,995)
    Segment EBITDA$269,766 $287,328 $277,079 
Segment assets$783,353 $727,477 $677,235 
Expenditures of property, plant and equipment$66,063 $64,072 $58,713 
Items excluded from segment measures:
    Depreciation expense$30,152 $26,436 $23,282 
    Amortization of intangibles20,152 20,290 20,265 
    Amortization of software development intangible assets10,552 7,692 3,821 
    Adjustments related to acquisitions and divestitures1,192 818 2,244 
    Severance, restructuring, and acquisition integration costs7,649 13,931 7,485 
Years Ended December 31,
202420232022
(In thousands)
Total Segments
Segment Revenues$2,460,979 $2,512,084 $2,606,485 
Affiliate Revenues943 1,423 1,075 
Segment Cost of Sales(1,490,523)(1,514,087)(1,644,912)
Segment Selling, General and Administrative Expenses(452,438)(450,279)(421,496)
Segment Research and Development Expenses(109,103)(112,706)(102,556)
    Segment EBITDA$409,858 $436,435 $438,596 
Segment assets$1,446,976 $1,364,582 $1,270,888 
Expenditures of property, plant and equipment$99,406 $100,309 $92,248 
Items excluded from segment measures:
    Depreciation expense$56,383 $51,379 $46,669 
    Amortization of intangibles48,794 40,375 37,860 
    Amortization of software development intangible assets10,564 7,692 3,875 
    Adjustments related to acquisitions and divestitures4,764 6,177 7,833 
    Severance, restructuring, and acquisition integration costs22,814 25,152 16,685 
The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income from continuing operations before taxes, respectively.
 Years Ended December 31,
 202420232022
(In thousands)
Total segment and consolidated revenues$2,460,979 $2,512,084 $2,606,485 
Total Segment EBITDA$409,858 $436,435 $438,596 
Depreciation expense(56,383)(51,379)(46,669)
Amortization of intangibles(48,794)(40,375)(37,860)
Severance, restructuring, and acquisition integration costs (1)(22,814)(25,152)(16,685)
Amortization of software development intangible assets(10,564)(7,692)(3,875)
Adjustments related to acquisitions and divestitures (2)(4,764)(6,177)(7,833)
Gain on sale of assets (3)— 12,056 37,891 
Eliminations(79)(198)(231)
Consolidated operating income266,460 317,518 363,334 
Interest expense, net(38,303)(33,625)(43,554)
Loss on debt extinguishment— — (6,392)
Non-operating pension benefit (cost)(215)1,863 4,005 
Consolidated income from continuing operations before taxes$227,942 $285,756 $317,393 
(1)Includes costs associated with acquisitions, productivity initiatives, and manufacturing footprint actions.
(2)Includes fair value adjustments of acquired assets and costs associated with a former subsidiary that was previously divested.
(3)During 2023, we sold certain real estate in Canada for $13.8 million, net of transaction costs and recognized a $12.1 million pre-tax gain on sale. During 2022, we sold certain real estate in the United States for $42.2 million, net of transaction costs and recognized a $37.9 million pre-tax gain on sale. See Note 11, Property, Plant, and Equipment, for details.
Below are reconciliations of other segment measures to the consolidated totals. 
 Years Ended December 31,
 202420232022
 (In thousands)
Total segment assets$1,446,976 $1,364,582 $1,270,888 
Cash and cash equivalents
370,302 597,044 687,676 
Goodwill
1,018,677 907,331 862,253 
Intangible assets, less accumulated amortization
419,074 269,144 246,830 
Deferred income taxes
16,353 15,739 14,642 
Corporate assets
56,556 86,351 79,386 
Total assets$3,327,938 $3,240,191 $3,161,675 
Total segment expenditures of property, plant and equipment$99,406 $100,309 $92,248 
    Corporate expenditures of property, plant and equipment29,694 16,422 12,846 
Total expenditures of property, plant and equipment$129,100 $116,731 $105,094 
Geographic Information
The Company attributes foreign sales based on the location of the customer purchasing the product. The table below summarizes net sales and long-lived assets for the years ended December 31, 2024, 2023, and 2022 for the following countries: U.S., Canada, China, and Germany. No other individual foreign country’s net sales or long-lived assets are material to the Company.
United
 States		CanadaChinaGermanyAll OtherTotal
 (In thousands, except percentages)
Year ended December 31, 2024
Revenues$1,392,262 $160,012 $92,108 $118,256 $698,341 $2,460,979 
Percent of total revenues57 %6 %4 %5 %28 %100 %
Long-lived assets$290,282 $13,799 $38,622 $62,170 $154,180 $559,053 
Year ended December 31, 2023
Revenues$1,383,212 $169,122 $104,718 $134,130 $720,902 $2,512,084 
Percent of total revenues55 %7 %4 %5 %29 %100 %
Long-lived assets$230,267 $13,355 $45,326 $67,758 $144,606 $501,312 
Year ended December 31, 2022
Revenues$1,448,247 $188,013 $126,904 $131,485 $711,836 $2,606,485 
Percent of total revenues56 %7 %5 %5 %27 %100 %
Long-lived assets$203,070 $12,805 $45,866 $44,061 $122,565 $428,367 
Major Customer
Revenues generated in both the Smart Infrastructure Solutions and Automation Solutions segments from our largest customer were approximately $348.1 million (14% of revenues), $378.1 million (15% of revenues), and $387.7 million (15% of revenues) for the years ended December 31, 2024, 2023, and 2022, respectively. At December 31, 2024 and 2023, we had $55.9 million and $61.9 million in accounts receivable outstanding from this customer, which represented approximately 14% and 15% of our total accounts receivable balance as of December 31, 2024 and 2023, respectively.