v3.26.1
Segment Information (Tables)
6 Months Ended
Jun. 28, 2026
Segment Information  
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals

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For the Second Quarter Ended June 28, 2026

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  ​ ​ ​

  ​ ​ ​

Americas

  ​ ​ ​

Europe

  ​ ​ ​

APMEA

  ​ ​ ​

Total

​

​

​

(in millions)

Net sales

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Net sales from external customers

​

​

$

585.0

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$

124.6

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$

53.6

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$

763.2

Intersegment sales

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​

 

2.0

​

 

6.4

​

 

32.5

​

 

40.9

Total segment net sales

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​

$

587.0

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$

131.0

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$

86.1

​

$

804.1

Reconciliation of net sales

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  ​ ​ ​

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  ​ ​ ​

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  ​ ​ ​

​

​

  ​ ​ ​

Elimination of intersegment sales

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​

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(40.9)

Total consolidated net sales

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$

763.2

Less (a)

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​

  ​ ​ ​

​

​

  ​ ​ ​

​

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  ​ ​ ​

​

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  ​ ​ ​

Segment cost of goods sold

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​

287.2

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​

81.3

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​

61.2

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Segment selling, general and administrative

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​

 

132.7

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29.9

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13.6

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Segment research and development

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​

 

17.0

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3.2

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0.7

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Segment earnings

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​

150.1

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16.6

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​

10.6

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​

177.3

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Reconciliation of segment earnings to income before income taxes

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​

​

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Segment special items (b)

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(6.0)

Corporate operating loss (c)

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(17.3)

Consolidated operating income

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​

154.0

Interest income

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(1.7)

Interest expense

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2.2

Other income, net

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(0.2)

Income before income taxes

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$

153.7

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For the Second Quarter Ended June 29, 2025

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  ​ ​ ​

  ​ ​ ​

Americas

  ​ ​ ​

Europe

  ​ ​ ​

APMEA

  ​ ​ ​

Total

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​

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(in millions)

Net sales

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​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Net sales from external customers

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​

$

498.5

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$

111.0

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$

34.2

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$

643.7

Intersegment sales

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​

 

2.0

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10.6

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31.3

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43.9

Total segment net sales

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​

$

500.5

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$

121.6

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$

65.5

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$

687.6

Reconciliation of net sales

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  ​ ​ ​

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  ​ ​ ​

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​

  ​ ​ ​

​

​

  ​ ​ ​

Elimination of intersegment sales

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​

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​

 

(43.9)

Total consolidated net sales

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$

643.7

Less (a)

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  ​ ​ ​

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  ​ ​ ​

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  ​ ​ ​

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  ​ ​ ​

Segment cost of goods sold

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​

​

234.7

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​

79.0

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​

48.1

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Segment selling, general and administrative

​

​

 

116.1

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26.9

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10.2

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​

​

Segment research and development

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​

 

13.9

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2.7

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0.7

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Segment earnings

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​

135.8

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13.0

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6.5

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​

155.3

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Reconciliation of segment earnings to income before income taxes

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Segment special items (b)

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​

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(3.8)

Corporate operating loss (c)

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(16.2)

Consolidated operating income

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135.3

Interest income

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(2.3)

Interest expense

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2.7

Other expense, net

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0.2

Income before income taxes

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​

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$

134.7

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For the Six Months Ended June 28, 2026

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  ​ ​ ​

  ​ ​ ​

Americas

  ​ ​ ​

Europe

  ​ ​ ​

APMEA

  ​ ​ ​

Total

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​

​

(in millions)

Net sales

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Net sales from external customers

​

​

$

1,100.1

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$

246.0

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$

94.3

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$

1,440.4

Intersegment sales

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​

 

4.8

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12.6

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59.5

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76.9

Total segment net sales

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$

1,104.9

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$

258.6

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$

153.8

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$

1,517.3

Reconciliation of net sales

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  ​ ​ ​

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  ​ ​ ​

Elimination of intersegment sales

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(76.9)

Total consolidated net sales

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$

1,440.4

Less (a)

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Segment cost of goods sold

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543.9

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​

161.0

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109.2

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Segment selling, general and administrative

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​

 

253.9

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58.2

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25.0

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Segment research and development

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​

 

32.4

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6.2

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1.4

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Segment earnings

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​

274.7

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​

33.2

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18.2

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​

326.1

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Reconciliation of segment earnings to income before income taxes

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Segment special items (b)

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​

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(8.9)

Corporate operating loss (c)

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​

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(30.2)

Consolidated operating income

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​

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​

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​

287.0

Interest income

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​

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​

​

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(3.4)

Interest expense

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4.8

Other expense, net

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0.5

Income before income taxes

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$

285.1

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For the Six Months Ended June 29, 2025

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  ​ ​ ​

  ​ ​ ​

Americas

  ​ ​ ​

Europe

  ​ ​ ​

APMEA

  ​ ​ ​

Total

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​

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(in millions)

Net sales

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​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

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  ​ ​ ​

​

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  ​ ​ ​

Net sales from external customers

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$

916.6

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$

219.4

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$

65.7

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$

1,201.7

Intersegment sales

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​

 

4.2

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18.7

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56.2

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79.1

Total segment net sales

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​

$

920.8

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$

238.1

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$

121.9

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$

1,280.8

Reconciliation of net sales

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  ​ ​ ​

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  ​ ​ ​

Elimination of intersegment sales

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(79.1)

Total consolidated net sales

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$

1,201.7

Less (a)

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  ​ ​ ​

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Segment cost of goods sold

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438.7

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153.5

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89.4

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Segment selling, general and administrative

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220.9

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51.5

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19.1

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Segment research and development

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​

 

27.6

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5.0

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1.4

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Segment earnings

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233.6

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​

28.1

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12.0

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​

273.7

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​

Reconciliation of segment earnings to income before income taxes

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Segment special items (b)

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​

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(22.2)

Corporate operating loss (c)

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(28.5)

Consolidated operating income

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223.0

Interest income

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​

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​

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(4.6)

Interest expense

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​

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5.4

Other expense, net

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0.6

Income before income taxes

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$

221.6

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(a)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM. Significant segment expenses exclude certain expenses incurred and benefits recognized, see footnote (b). Intersegment expenses are included within the amounts shown.

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(b)Segment special items are excluded from segment earnings and defined as nonrecurring and unusual expenses incurred or benefits recognized such as restructuring costs and acquisition-related costs.

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(c)Corporate expenses are primarily for administrative compensation expense, compliance costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs.

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Second Quarter Ended

​

Six Months Ended

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​

June 28,

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June 29,

​

June 28,

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June 29,

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  ​ ​ ​

2026

  ​ ​

2025

  ​ ​

2026

  ​ ​

2025

  ​ ​ ​

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(in millions)

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Capital expenditures

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Americas

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$

8.1

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$

5.8

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$

16.8

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$

12.3

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Europe

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2.8

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3.0

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5.3

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5.8

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APMEA

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0.3

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1.4

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0.5

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1.7

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Consolidated capital expenditures

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$

11.2

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$

10.2

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$

22.6

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$

19.8

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Depreciation and amortization of intangibles

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Americas

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$

12.1

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$

11.1

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$

23.9

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$

21.9

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Europe

​

 

2.7

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2.8

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5.3

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5.2

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APMEA

​

 

1.0

​

 

0.6

​

 

1.9

​

 

1.1

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Consolidated depreciation and amortization of intangibles

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$

15.8

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$

14.5

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$

31.1

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$

28.2

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June 28,

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December 31,

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  ​ ​ ​

2026

  ​ ​ ​

2025

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(in millions)

Identifiable assets (at end of period)

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Americas

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$

2,075.0

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$

2,043.6

Europe

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628.1

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616.5

APMEA

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248.4

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221.1

Consolidated identifiable assets

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$

2,951.5

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$

2,881.2

Property, plant and equipment, net (at end of period)

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Americas

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$

203.1

​

$

202.1

Europe

​

​

​

​

​

​

​

 

75.3

​

 

78.7

APMEA

​

​

​

​

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17.1

​

 

16.3

Consolidated property, plant and equipment, net

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$

295.5

​

$

297.1

Schedule of U.S. net sales and U.S. property, plant and equipment of the Company's Americas segment

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Second Quarter Ended

​

Six Months Ended

​

​

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June 28,

​

June 29,

​

June 28,

​

June 29,

​

​

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

​

​

(in millions)

​

U.S. net sales

​

$

553.4

​

$

471.0

​

$

1,038.3

​

$

865.0

​

​