Reportable Segments (Tables)

6 Months Ended

Jun. 29, 2025

Segment Reporting [Abstract]

Schedule of Operating Segment Information

Operating Segment Information

	Three Months Ended				Six Months Ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024
	(In thousands)
Smart Infrastructure Solutions
Segment Revenues	$	306,019	$	270,473	$	580,069	$	504,562
Affiliate Revenues	63		54		93		93
Segment Cost of Sales	(208,827)		(188,135)		(390,835)		(351,560)
Segment Selling, General and Administrative Expenses	(50,114)		(41,338)		(100,506)		(78,412)
Segment Research and Development Expenses	(10,917)		(9,598)		(21,462)		(17,439)
Segment EBITDA	$	36,224	$	31,456	$	67,359	$	57,244
Segment assets	$	703,484	$	671,250	$	703,484	$	671,250
Items excluded from segment measures:
Depreciation expense	$	6,928	$	6,214	$	13,500	$	12,519
Amortization of intangibles	8,556		5,022		17,212		10,741
Amortization of software development intangible assets	—		—		18		—
Severance, restructuring, and acquisition integration costs	1,747		2,309		2,704		3,899

	Three Months Ended				Six Months Ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024
	(In thousands)
Automation Solutions
Segment Revenues	$	365,973	$	333,863	$	716,784	$	635,449
Affiliate Revenues	305		102		633		501
Segment Cost of Sales	(192,814)		(177,420)		(378,765)		(336,498)
Segment Selling, General and Administrative Expenses	(72,843)		(70,400)		(146,967)		(136,817)
Segment Research and Development Expenses	(22,375)		(18,408)		(40,114)		(36,153)
Segment EBITDA	$	78,246	$	67,737	$	151,571	$	126,482
Segment assets	$	850,170	$	762,736	$	850,170	$	762,736
Items excluded from segment measures:
Depreciation expense	$	8,726	$	7,363	$	16,050	$	14,523
Amortization of intangibles	4,914		4,918		9,533		10,008
Amortization of software development intangible assets	2,943		2,464		5,538		5,177
Severance, restructuring, and acquisition integration costs	1,092		1,684		1,833		4,306
Adjustments related to acquisitions and divestitures	286		298		584		596

	Three Months Ended				Six Months Ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024
	(In thousands)
Total Segments
Segment Revenues	$	671,992	$	604,336	$	1,296,853	$	1,140,011
Affiliate Revenues	368		156		726		594
Segment Cost of Sales	(401,641)		(365,555)		(769,600)		(688,058)
Segment Selling, General and Administrative Expenses	(122,957)		(111,738)		(247,473)		(215,229)
Segment Research and Development Expenses	(33,292)		(28,006)		(61,576)		(53,592)
Segment EBITDA	$	114,470	$	99,193	$	218,930	$	183,726
Segment assets	$	1,553,654	$	1,433,986	$	1,553,654	$	1,433,986
Items excluded from segment measures:
Depreciation expense	$	15,654	$	13,577	$	29,550	$	27,042
Amortization of intangibles	13,470		9,940		26,745		20,749
Amortization of software development intangible assets	2,943		2,464		5,556		5,177
Severance, restructuring, and acquisition integration costs	2,839		3,993		4,537		8,205
Adjustments related to acquisitions and divestitures	286		298		584		596

Schedule of Reconciliation of Total Reportable Segments' Revenues and EBITDA to Consolidated Revenues and Consolidated Income Before Taxes

The following table is a reconciliation of the total of the reportable segments’ Revenues and EBITDA to consolidated revenues and consolidated income before taxes, respectively.

	Three Months Ended				Six Months Ended
	June 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024
	(In thousands)
Total Segment and Consolidated Revenues	$	671,992	$	604,336	$	1,296,853	$	1,140,011
Total Segment EBITDA	$	114,470	$	99,193	$	218,930	$	183,726
Depreciation expense	(15,654)		(13,577)		(29,550)		(27,042)
Amortization of intangibles	(13,470)		(9,940)		(26,745)		(20,749)
Severance, restructuring, and acquisition integration costs (1)	(2,839)		(3,993)		(4,537)		(8,205)
Amortization of software development intangible assets	(2,943)		(2,464)		(5,556)		(5,177)
Adjustments related to acquisitions and divestitures (2)	(286)		(298)		(584)		(596)
Eliminations	(42)		(9)		(96)		(25)
Consolidated operating income	79,236		68,912		151,862		121,932
Interest expense, net	(12,200)		(9,017)		(22,304)		(16,599)
Total non-operating pension benefit (cost)	(364)		230		(805)		461
Consolidated income before taxes	$	66,672	$	60,125	$	128,753	$	105,794

(1) Includes costs associated with acquisitions and manufacturing footprint actions.

(2) Adjustments related to acquisitions and divestitures include fair value adjustments of acquired assets.