LITTELFUSE INC /DE, 10-K filed on 2/19/2026
Annual Report
v3.25.4
Cover Page - USD ($)
 12 Months Ended
Dec. 27, 2025
Feb. 13, 2026
Jun. 28, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 27, 2025    
Document Transition Report false    
Entity File Number 0-20388    
Entity Registrant Name LITTELFUSE INC /DE    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 36-3795742    
Entity Address, Street 6133 North River Road    
Entity Address, Suite Suite 500    
Entity Address, City Rosemont    
Entity Address, State IL    
Entity Address, Postal Zip Code 60018    
City Area Code 773    
Local Phone Number 628-1000    
Title of Each Class Common Stock, $0.01 par value    
Trading Symbol LFUS    
Name of Each Exchange On Which Registered NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 5,591,411,587
Entity Common Stock, Shares Outstanding   25,107,673  
Documents Incorporated by Reference
Portions of the Littelfuse, Inc. Proxy Statement for the 2026 Annual Meeting of Stockholders (the “Proxy Statement”) are incorporated by reference into Part III of this Form 10-K.
    
Entity Central Index Key 0000889331    
Current Fiscal Year End Date --12-27    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Audit Information [Abstract]      
Auditor Name s/ Deloitte & Touche LLP s/ Deloitte & Touche LLP GRANT THORNTON LLP
Auditor Location Chicago, Illinois Chicago, Illinois Southfield, Michigan
Auditor Firm ID 34 34 248
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Current assets:    
Cash and cash equivalents (Note 1) $ 563,391 $ 724,924
Short-term investments 287 976
Trade receivables, less allowances of $77,073 and $69,990, respectively 363,215 294,371
Inventories (Note 3) 416,472 416,273
Prepaid income taxes and income taxes receivable 6,137 11,749
Prepaid expenses and other current assets 85,832 103,716
Total current assets 1,435,334 1,552,009
Net property, plant, and equipment (Note 4) 540,640 477,068
Intangible assets, net of amortization (Note 5) 594,907 482,118
Goodwill (Note 5) 1,211,411 1,228,502
Investments (Note 1) 20,010 23,245
Deferred income taxes (Note 14) 5,255 4,899
Right of use lease assets (Note 7) 86,263 72,211
Other long-term assets 62,976 51,727
Total assets 3,956,796 3,891,779
Current liabilities:    
Accounts payable 211,079 188,359
Accrued liabilities (Note 6) 199,271 148,276
Accrued income taxes 26,186 29,658
Current portion of long-term debt (Note 9) 96,233 67,612
Total current liabilities 532,769 433,905
Long-term debt, less current portion (Note 9) 706,394 788,502
Deferred income taxes (Note 14) 102,335 95,532
Accrued post-retirement benefits (Note 11) 38,733 29,836
Non-current lease liabilities (Note 7) 71,765 60,559
Other long-term liabilities 78,766 69,833
Total liabilities 1,530,762 1,478,167
Commitments and contingencies (Note 17)
Shareholders’ equity:    
Common stock, par value $0.01 per share: 34,000,000 shares authorized; shares issued, 27,014,490 and 26,758,730, respectively 264 262
Additional paid-in capital 1,098,150 1,049,079
Treasury stock, at cost: 2,088,409 and 1,937,380 shares, respectively (338,696) (305,351)
Accumulated other comprehensive loss (5,383) (146,361)
Retained earnings 1,671,699 1,815,628
Littelfuse, Inc. shareholders’ equity 2,426,034 2,413,257
Non-controlling interest 0 355
Total equity 2,426,034 2,413,612
Total liabilities and equity $ 3,956,796 $ 3,891,779
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Statement of Financial Position [Abstract]    
Trade receivables, allowances $ 77,073 $ 69,990
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 34,000,000 34,000,000
Common stock, shares issued (in shares) 27,014,490 26,758,730
Treasury stock, shares (in shares) 2,088,409 1,937,380
v3.25.4
CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Income Statement [Abstract]      
Net sales $ 2,386,294 $ 2,190,768 $ 2,362,657
Cost of sales 1,480,251 1,403,226 1,462,416
Gross profit 906,043 787,542 900,241
Selling, general, and administrative expenses 381,773 350,421 354,655
Research and development expenses 106,899 107,773 102,429
Amortization of intangibles 59,793 62,127 65,794
Restructuring, impairment, and other charges 320,050 108,441 16,501
Total operating expenses 868,515 628,762 539,379
Operating income 37,528 158,780 360,862
Interest expense 34,303 38,717 39,866
Foreign exchange loss (gain) (16,612) 9,230 (12,299)
Other income, net (16,994) (22,570) (19,901)
Income before income taxes 3,607 151,863 328,598
Income taxes 75,307 51,673 69,113
Net (loss) income $ (71,700) $ 100,190 $ 259,485
(Loss) income per share:      
Basic (in dollars per share) $ (2.89) $ 4.04 $ 10.44
Diluted (in dollars per share) $ (2.89) $ 4.00 $ 10.34
Weighted average shares and equivalent shares outstanding:      
Basic (in shares) 24,817 24,821 24,854
Diluted (in shares) 24,817 25,039 25,102
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net (loss) income $ (71,700) $ 100,190 $ 259,485
Other comprehensive (loss) income:      
Pension and postemployment adjustments, net of tax (2,178) (2,896) (5,420)
Cash flow hedges, net of tax 6,831 (3,147) (2,148)
Foreign currency translation adjustments, net of tax 136,325 (84,501) 47,515
Comprehensive income $ 69,278 $ 9,646 $ 299,432
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
OPERATING ACTIVITIES      
Net (loss) income $ (71,700) $ 100,190 $ 259,485
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 74,871 68,325 71,634
Amortization of intangibles 59,793 62,127 65,794
Impairment charges 302,052 93,515 4,853
Deferred revenue 2,399 (2,028) 1,787
Stock-based compensation 27,301 26,012 23,898
Loss (gain) on investments and other assets 3,639 (112) 291
Deferred income taxes 3,339 (2,823) 46
Other 5,186 (7,873) 5,473
Changes in operating assets and liabilities:      
Trade receivables (36,401) (15,347) 24,517
Inventories 40,181 47,143 82,471
Accounts payable 11,342 16,260 (36,277)
Accrued liabilities and income taxes 4,095 (34,560) (61,022)
Prepaid expenses and other assets 7,667 16,792 14,437
Net cash provided by operating activities 433,764 367,621 457,387
INVESTING ACTIVITIES      
Acquisitions of businesses, net of cash acquired (407,718) 0 (198,810)
Purchases of property, plant, and equipment (67,637) (75,877) (86,188)
Net proceeds from sale of property, plant, equipment, and other 5,806 10,836 832
Other 689 (741) (151)
Net cash used in investing activities (468,860) (65,782) (284,317)
FINANCING ACTIVITIES      
Payments of senior notes payable (50,000) 0 (121,302)
Repayments of other debts (2,829) (2,707) (2,697)
Payments of term loan (15,000) (7,500) (7,500)
Net proceeds related to stock-based award activities 22,630 5,694 7,934
Cash dividends paid (71,991) (67,061) (62,161)
Purchases of common stock (27,553) (40,862) 0
Other (4,530) 0 0
Net cash used in financing activities (149,273) (112,436) (185,726)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 23,036 (20,089) 4,840
(Decrease) increase in cash, cash equivalents, and restricted cash (161,333) 169,314 (7,816)
Cash, cash equivalents, and restricted cash at beginning of period 726,437 557,123 564,939
Cash, cash equivalents, and restricted cash at end of period 565,104 726,437 557,123
Reconciliation of cash and cash equivalents:      
Cash and cash equivalents 563,391 724,924 555,513
Restricted cash included in other long-term assets 1,713 1,513 1,610
Cash paid during the period for interest 34,361 36,207 37,167
Cash paid during the period for income taxes, net of refunds 81,601 83,765 73,932
Capital expenditures, not yet paid $ 9,340 $ 11,727 $ 9,191
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Addl. Paid in Capital
Treasury Stock
Accum. Other Comp. Inc. (Loss)
Retained Earnings
Non-controlling Interest
Beginning balance at Dec. 31, 2022 $ 2,211,378 $ 261 $ 974,097 $ (252,866) $ (95,764) $ 1,585,466 $ 184
Increase (Decrease) in Stockholders' Equity              
Net (loss) income 259,485         259,485  
Other comprehensive income (loss), net of tax 39,947       39,947    
Stock-based compensation 23,898   23,898        
Non-controlling interest 0         (128) 128
Withheld shares on restricted share units for withholding taxes (6,397)     (6,397)      
Stock options exercised 14,331 1 14,330        
Cash dividends paid (62,161)         (62,161)  
Ending balance at Dec. 30, 2023 2,480,481 262 1,012,325 (259,263) (55,817) 1,782,662 312
Increase (Decrease) in Stockholders' Equity              
Net (loss) income 100,190         100,190  
Other comprehensive income (loss), net of tax (90,544)       (90,544)    
Stock-based compensation 26,012   26,012        
Non-controlling interest (120)         (163) 43
Withheld shares on restricted share units for withholding taxes (5,048)     (5,048)      
Stock options exercised 10,742 0 10,742        
Repurchases of common stock, with excise tax (41,040)     (41,040)      
Cash dividends paid (67,061)         (67,061)  
Ending balance at Dec. 28, 2024 2,413,612 262 1,049,079 (305,351) (146,361) 1,815,628 355
Increase (Decrease) in Stockholders' Equity              
Net (loss) income (71,700)         (71,700)  
Other comprehensive income (loss), net of tax 140,978       140,978    
Stock-based compensation 27,301   27,301        
Non-controlling interest (7,422)   (6,829)     (238) (355)
Withheld shares on restricted share units for withholding taxes (5,971)     (5,971)      
Stock options exercised 28,601 2 28,599        
Repurchases of common stock, with excise tax (27,374)     (27,374)      
Cash dividends paid (71,991)         (71,991)  
Ending balance at Dec. 27, 2025 $ 2,426,034 $ 264 $ 1,098,150 $ (338,696) $ (5,383) $ 1,671,699 $ 0
v3.25.4
CONSOLIDATED STATEMENTS OF EQUITY (Parentheticals) - $ / shares
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Statement of Stockholders' Equity [Abstract]      
Shares withheld on restricted stock grants for withholding taxes (in shares) 30,385 21,732 25,933
Cash dividends paid, per share (in dollars per share) $ 2.90 $ 2.70 $ 2.50
v3.25.4
Summary of Significant Accounting Policies and Other Information
 12 Months Ended
Dec. 27, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies and Other Information Summary of Significant Accounting Policies and Other Information
 
Nature of Operations 
 
Littelfuse, Inc. and subsidiaries (the “Company”) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 17,000 global associates, the Company partners with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, the Company’s products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day.

Fiscal Year 
 
References herein to “2025”, “fiscal 2025” or “fiscal year 2025” refer to the fiscal year ended December 27, 2025. References herein to “2024”, “fiscal 2024” or “fiscal year 2024” refer to the fiscal year ended December 28, 2024. References herein to “2023”, “fiscal 2023” or “fiscal year 2023” refer to the fiscal year ended December 30, 2023. The Company operates on a 52-53 week fiscal year (4-4-5 basis) ending on the Saturday closest to December 31.

Basis of Presentation 
 
The Consolidated Financial Statements include the accounts of Littelfuse, Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company’s Consolidated Financial Statements were prepared in accordance with generally accepted accounting principles in the United States of America ("U.S.") and include the assets, liabilities, sales and expenses of all wholly owned subsidiaries and majority-owned subsidiaries over which the Company exercises control.
 
Out-of-Period Adjustments

During the year ended December 28, 2024, the Company identified certain errors in its previously issued financial statements that were corrected through cumulative out-of-period adjustments in the financial statements as of and for the year ended December 28, 2024. The error was identified by management and related to the valuation and existence of inventory that originated in prior periods at certain of our non-U.S. manufacturing locations within the Transportation and Industrial segments. As a result, the Company recorded an out-of-period adjustment to the prior years of $12.3 million in the year ended December 28, 2024. The adjustment increased cost of sales, offset by a reduction in inventory. The out-of-period adjustment resulted in a decrease to net income of $12.3 million. The Company evaluated the impact of the error and out-of-period adjustment and concluded it was not material to any previously issued financial statements and the adjustment was not material to the year ended December 28, 2024.

Use of Estimates 
 
The process of preparing financial statements in conformity with generally accepted accounting principles in the U.S. requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses and the accompanying notes. The Company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in its evaluation, as considered necessary. Actual results could differ from those estimates.

Cash, Cash Equivalents and Restricted Cash
 
All highly liquid investments, with an original maturity of three months or less when purchased, are considered to be cash equivalents. The Company maintains several pools including multicurrency notional pools and physical pools internationally and a zero-balance account ("ZBA") structure in the U.S. In the notional pools, actual cash balances are not physically converted and are not commingled between participating legal entities. The Company will classify any overdraft balances within accrued expenses and other current liabilities on the Consolidated Balance Sheets.

The following table provides a reconciliation of cash, cash equivalents and restricted cash at December 27, 2025 and December 28, 2024 reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows.
 
Fiscal Year Ended
(in millions)20252024
Cash and cash equivalents$563,391 $724,924 
Restricted cash included in other assets1,713 1,513 
Total cash, cash equivalents and restricted cash$565,104 $726,437 

Short-Term and Long-Term Investments

As of December 27, 2025, the Company has an investment in Polytronics Technology Corporation Ltd. (“Polytronics”). The Company’s Polytronics shares held at the end of fiscal 2025 and 2024 represent approximately 6.7% of total Polytronics shares outstanding for both years. The Polytronics investment is carried at fair value. The fair value of the Polytronics investment was €6.5 million (approximately $7.7 million) at December 27, 2025 and €9.8 million (approximately $10.2 million) at December 28, 2024.
 
As a result of the Company’s acquisition of IXYS Corporation ("IXYS"), the Company has equity ownerships in various investments that are accounted for under the equity method. The Company owns 45% of the outstanding equity of Powersem GmbH, a module manufacturer based in Germany, approximately 15% of the outstanding equity of EB Tech Co., Ltd., a company with expertise in radiation technology based in South Korea, and approximately 24% of the outstanding common shares of Automated Technology (Phil), Inc., a supplier located in the Philippines that provides assembly and test services. The Company recognized a loss of $1.0 million and $0.6 million from its equity method investments for the fiscal years ended December 27, 2025 and December 28, 2024, respectively, recorded in Other (income), net, in the Consolidated Statements of Net (Loss) Income. The balance of these equity method investments was $12.3 million and $13.1 million as of the fiscal years ended December 27, 2025 and December 28, 2024, respectively. See Note 18, Related Party Transactions, for further discussion.

The Company has investments related to its non-qualified Supplemental Retirement and Savings Plan. The Company maintains accounts for participants through which participants make investment elections. The investment securities are subject to the claims of the Company’s creditors. The investment securities are all mutual funds. The investment securities are measured at net asset value. As of December 27, 2025 and December 28, 2024, the investment securities balance was $25.7 million and $23.3 million, respectively, related to the plan and are included in Other long-term assets on the Consolidated Balance Sheets.
 
Trade Receivables
 
The Company performs credit evaluations of customers’ financial condition and generally does not require collateral. A receivable is considered past due if payments have not been received within agreed upon invoice terms. Write-offs are recorded at the time a customer receivable is deemed uncollectible.
 
The Company also maintains allowances against trade receivables for the settlement of rebates and sales discounts to customers. These allowances are based upon specific customer sales and sales discounts as well as actual historical experience.
 
Inventories
 
Inventories are stated at the lower of cost or net realizable value, which approximates current replacement cost. Cost is principally determined using the first-in, first-out method. The Company maintains excess and obsolete reserves against inventory to reduce the carrying value to the expected net realizable value. These reserves are based upon a combination of factors including historical sales volume, market conditions, and lower of cost or net realizable value of the inventory.
 
Property, Plant, and Equipment
 
Land, buildings, and equipment are carried at cost. Depreciation is calculated using the straight-line method with useful lives of up to 35 years for buildings, three to 20 years for equipment, seven years for furniture and fixtures, five years for tooling, and three years for computer equipment. Leasehold improvements are depreciated over the lesser of their useful life or the lease term. Maintenance and repair costs are charged to expense as incurred. Major overhauls that extend the useful lives of existing assets are capitalized.
 
Goodwill
 
The Company annually tests goodwill for impairment on the first day of its fiscal fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value.

The results of the goodwill impairment test as of September 28, 2025 indicated that the estimated fair value for the Electronics-Semiconductor reporting unit was below its respective carrying value. Accordingly, the Company recorded a non-cash impairment charge of $301.2 million to reflect the impairment of goodwill for the Electronics-Semiconductor reporting unit within the Electronics segment. As a result of the impairment charge, the Electronics-Semiconductor reporting unit had $238.5 million of goodwill as of December 27, 2025. For the remainder of the Company's reporting units with goodwill: Electronics-Passive Products and Sensors, Passenger Car Products, Commercial Vehicle Products, Industrial Controls and Sensors, and Industrial Circuit Protection, the results of the goodwill impairment test as of September 28, 2025 indicated that their estimated fair values exceeded their respective carrying values.

During the fourth quarter of 2024, the Company recorded non-cash charges of $36.1 million and $8.6 million, respectively, to reflect the impairment of goodwill for the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive Sensors reporting unit within the Transportation segment. As of December 27, 2025, the Industrial controls and sensors reporting unit had $274.9 million of remaining goodwill. There was no goodwill remaining within the Automotive sensors reporting unit as of December 28, 2024.

There was no impairment charge recorded during the fiscal year of 2023.

The Company compares each reporting unit’s fair value, estimated based on comparable company market valuations and expected future discounted cash flows to be generated by the reporting unit, to its carrying value. With the exception of the Electronics-Semiconductor reporting unit within the Electronics segment, the other five reporting units with goodwill passed the goodwill impairment test, with estimated fair values that exceeded the carrying values between 22% and 303%. As of the most recent annual test conducted on September 28, 2025, the Company noted that the excess of fair value over the carrying value was 87%, 153%, 99%, 22% and 303% for its reporting units: Electronics-Passive Products and Sensors, Passenger Car Products, Commercial Vehicle Products, Industrial Controls and Sensors, and Industrial Circuit Protection, respectively. Relatively small changes in the Company’s key assumptions would not have resulted in any reporting units failing the goodwill impairment test. See Note 5, Goodwill and Other Intangible Assets, for additional information.

The Company also performs an interim review for indicators of impairment each quarter to assess whether an interim impairment review is required for any reporting unit. As part of its interim reviews, management analyzes potential changes in the value of individual reporting units based on each reporting unit’s operating results for the period compared to expected results as of the prior year’s annual impairment test. In addition, management considers how other key assumptions, including discount rates and expected long-term growth rates, used in the last annual impairment test, could be impacted by changes in market conditions and economic events. Based on the interim assessments as of December 27, 2025, management concluded that no events or changes in circumstances indicated that it was more likely than not that the fair value for any reporting unit had declined below its carrying value. 

Long-Lived Assets
 
For the fiscal year ended December 27, 2025, the Company recognized impairment charges of $0.5 million and $0.4 million related to certain machinery and equipment in the commercial vehicle business within the Transportation and the electronics products business within the Electronics segment, respectively.

For the fiscal year ended December 28, 2024, the Company recorded non-cash impairment charges of $47.8 million for the impairment of intangible assets, including $47.6 million related to the impairment of certain acquired customer relationships, developed technology, and tradename intangible assets in the Industrial Controls and Sensors reporting unit within the Industrial segment. The impairment of the intangible assets resulted from lower expectations of future revenue and cash flows driven by lower-than-expected demand in the electrical vehicle end market as well as reduced government funding to support charging infrastructures for electric vehicles, primarily in Europe. The fair value was determined using Level 3 inputs and estimated based on cash flow analyses, which included management’s assumptions related to future revenues and profitability. The remaining impairment charges included $0.2 million for patents and customer relationships related to the exit of a small business in China within the Industrial segment. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment related to certain machinery and equipment in the commercial vehicle business within the Transportation segment.
For the fiscal year ended December 30, 2023, the Company recognized a $3.9 million impairment charge related to the land and building of a property in the commercial vehicle business within the Transportation segment that the Company made the decision to donate, a $0.9 million impairment charge substantially related to certain patents in a business within the Industrial segment, and a $0.1 million impairment on certain machinery and equipment in the semiconductor business within the Electronics segment.

Customer relationships, trademarks and tradenames are amortized using the straight-line method over estimated useful lives that have a range of 3 to 20 years. Patents, licenses, and software are amortized using the straight-line method or an accelerated method over estimated useful lives that have a range of 4 to 17 years. The distribution networks are amortized on either a straight-line or accelerated basis over estimated useful lives that have a range of 4 to 10 years. Land use rights are amortized using the straight-line method up to 50 years which is the term of the land use rights.
 
The Company assesses potential impairments to its long-lived assets if events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impaired asset is written down to its estimated fair value based upon the most recent information available. Estimated fair market value is generally measured by discounting estimated future cash flows. Long-lived assets, other than goodwill and other intangible assets, which are held for sale are recorded at the lower of carrying value or the fair market value less the estimated cost to sell.

Environmental Liabilities
 
Environmental liabilities are accrued based on engineering studies estimating the cost of remediating sites. Expenses related to on-going maintenance of environmental sites are expensed as incurred. If actual or estimated probable future losses exceed the Company’s recorded liability for such claims, the Company would record additional charges during the period in which the actual loss or change in estimate occurred.
 
Pension and Other Post-retirement Benefits
 
The Company records annual income and expense amounts relating to its pension and post-retirement benefits plans based on calculations which include various actuarial assumptions including discount rates, expected long-term rates of return and compensation increases. The Company reviews its actuarial assumptions on an annual basis as of the fiscal year-end balance sheet date (or more frequently if a significant event requiring remeasurement occurs) and modifies the assumption based on current rates and trends when it is appropriate to do so. The effects of modifications are recognized immediately on the Consolidated Balance Sheets, but are generally amortized into operating earnings over future periods, with the deferred amount recorded in accumulated other comprehensive loss. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience, market conditions and input from its actuaries and investment advisors.
 
Revenue Recognition
 
Revenue Disaggregation
 
The following table disaggregates the Company’s revenue by primary business units for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023:
 Fiscal Year Ended December 27, 2025
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$669,579 $— $— $669,579 
Electronics – Passive Products and Sensors675,943 — — 675,943 
Commercial Vehicle Products— 320,545 — 320,545 
Passenger Car Products— 293,641 — 293,641 
Automotive Sensors— 62,191 — 62,191 
Industrial Products— — 364,395 364,395 
Total$1,345,522 $676,377 $364,395 $2,386,294 
 
 Fiscal Year Ended December 28, 2024
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$615,372 $— $— $615,372 
Electronics – Passive Products and Sensors571,401 — — 571,401 
Commercial Vehicle Products— 320,549 — 320,549 
Passenger Car Products— 278,332 — 278,332 
Automotive Sensors— 73,553 — 73,553 
Industrial Products— — 331,561 331,561 
Total$1,186,773 $672,434 $331,561 $2,190,768 

 Fiscal Year Ended December 30, 2023
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$767,393 $— $— $767,393 
Electronics – Passive Products and Sensors583,033 — — 583,033 
Commercial Vehicle Products— 323,758 — 323,758 
Passenger Car Products— 266,004 — 266,004 
Automotive Sensors— 88,516 — 88,516 
Industrial Products— — 333,953 333,953 
Total$1,350,426 $678,278 $333,953 $2,362,657 

See Note 16, Segment Information, for net sales by segment and country.
 
The Company recognizes revenue on product sales in the period in which the Company satisfies its performance obligation and control of the product is transferred to the customer. The Company’s sales arrangements with customers are predominately short term in nature and generally provide for transfer of control at the time of shipment as this is the point at which title and risk of loss of the product transfers to the customer. At the end of each period, for those shipments where title to the products and the risk of loss and rewards of ownership do not transfer until the product has been received by the customer, the Company adjusts revenues and cost of sales for the delay between the time that the products are shipped and when they are received by the customer. The amount of revenue recorded reflects the consideration to which the Company expects to be entitled in exchange for goods and may include adjustments for customer allowance, rebates, and price adjustments. The Company’s distribution channels are primarily through direct sales and independent third-party distributors.
 
The Company has elected the practical expedient under ASC 340-40-25-4 to expense commissions when incurred as the amortization period of the commission asset the Company would have otherwise recognized is less than one year.
 
Revenue and Billing
 
The Company generally accepts orders from customers through receipt of purchase orders or electronic data interchange based on written sales agreements and purchasing contracts. Contract pricing and selling agreement terms are based on market factors, costs, and competition. Pricing is often negotiated as an adjustment (premium or discount) from the Company’s published price lists. The customer is invoiced when the Company’s products are shipped to them in accordance with the terms of the sales agreement. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company also elected the practical expedient provided in ASC 606-10-25-18B to treat all product shipping and handling activities as fulfillment activities, and therefore recognize the gross revenue associated with the contract, inclusive of any shipping and handling revenue.
 
Ship and Debit Program
 
Some of the terms of the Company’s sales agreements and normal business conditions provide customers (distributors) the ability to receive price adjustments on products previously shipped and invoiced. This practice is common in the industry and is referred to as a “ship and debit” program. This program allows the distributors to debit the Company for the difference between the distributors’ contracted price and a lower price for specific transactions. Under certain circumstances (usually in a competitive situation or large volume opportunity), a distributor will request authorization for pricing allowances to reduce its price. When the Company approves such a reduction, the distributor is authorized to “debit” its account for the difference between the contracted price and the lower approved price. The Company establishes reserves for this program based on historic activity, distributor inventory levels and actual authorizations for the debit and recognizes these debits as a reduction of revenue.

Return to Stock 
 
The Company has a return to stock policy whereby certain customers, with prior authorization from the Company's management, can return previously purchased goods for full or partial credit. The Company establishes an estimated allowance for these returns based on historic activity. Sales revenue and cost of sales are reduced to anticipate estimated returns.
 
Volume Rebates
 
The Company offers volume-based sales incentives to certain customers to encourage greater product sales. If customers achieve their specific quarterly or annual sales targets, they are entitled to rebates. The Company estimates the projected amount of rebates that will be achieved by the customer and recognizes this estimated cost as a reduction to revenue as products are sold.

Allowance for Credit Losses

The Company currently measures the expected credit losses based on our historical credit loss experience. The Company has not experienced significant recent or historical credit losses and is not forecasting any significant credit losses which would require adjustments to our methodology. If current conditions and supportable forecasts indicate that our historical loss experience is not reasonable and no longer supportable, the Company may adjust its historical credit loss experience and to reflect these conditions and forecasts. The Company regularly analyzes its significant customer accounts and, when the Company becomes aware of a customer’s inability to meet its financial obligations, the Company records a specific reserve for bad debt to reduce the related receivable to the amount the Company reasonably believes is collectible. The Company also analyzes all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, macroeconomic considerations and historical collection and loss experience. Historically, the allowance for credit losses has been adequate to cover bad debts. If circumstances related to specific customers change, the estimates of the recoverability of receivables could be further adjusted.

As of December 27, 2025 and December 28, 2024, the Company’s allowance for credit losses was $2.5 million and $1.6 million, respectively. Additionally, the Company had $9.3 million and $3.8 million of trade receivables greater than 90 days past due as of December 27, 2025 and December 28, 2024, respectively.

Advertising Costs
 
The Company expenses advertising costs as incurred, which amounted to $4.0 million, $5.0 million, and $4.0 million in fiscal years 2025, 2024 and 2023, respectively, and are included as a component of selling, general, and administrative expenses.
 
Shipping and Handling Fees and Costs
 
Amounts billed to customers related to shipping and handling are classified as revenue. Costs incurred for shipping and handling of $14.3 million, $15.3 million, and $15.4 million in fiscal years 2025, 2024, and 2023, respectively, are classified in selling, general, and administrative expenses.
 
Foreign Currency Translation / Remeasurement
 
The Company’s foreign subsidiaries use the local currency or the U.S. dollar as their functional currency, as appropriate. Assets and liabilities are translated using exchange rates at the balance sheet date, and revenues and expenses are translated at weighted average rates. Adjustments from the translation process are recognized in Shareholders’ equity as a component of Accumulated other comprehensive loss. The amount of foreign currency loss or (gain) recognized in the Consolidated Statements of Net (Loss) Income was loss (gain) of $16.6 million, $(9.2) million, and $12.3 million in fiscal years 2025, 2024 and 2023, respectively.

Stock-Based Compensation
 
The Company recognizes compensation expense for the cost of awards of equity compensation using a fair value method. Benefits of tax deductions in excess of recognized compensation expense are reported as operating cash flows. See Note 12, Stock-Based Compensation, for additional information on stock-based compensation.

Coal Mining Liability

Included in accrued liabilities is an accrual related to former coal mining operations at Littelfuse GmbH (formerly known as Heinrich Industries, AG) for the amounts of €1.8 million ($2.2 million) and €2.2 million ($2.3 million) at December 27, 2025 and December 28, 2024, respectively. Management, in conjunction with an independent third-party, performs an annual evaluation of the former coal mining operations in order to develop an estimate of the probable future obligations in regard to remediating the dangers (such as a shaft collapse) of abandoned coal mine shafts in the former coal mining operations. Management accrues for costs associated with such remediation efforts based on management's best estimate when such costs are probable and reasonably able to be estimated. The ultimate determination can only be done after respective investigations because the concrete conditions are mostly unknown at this time.
 
Other Income, Net
 
Other income, net generally consists of interest income, royalties, changes in fair value of available-for-sale securities, pension non-service costs and settlements and other non-operating (income) expense. The amount of interest income included in Other income, net, was $26.3 million, $28.0 million, and $18.9 million in fiscal years 2025, 2024 and 2023, respectively.
 
Income Taxes
 
The Company accounts for income taxes using the asset and liability method. Deferred taxes are recognized for the future effects of temporary differences between financial and income tax reporting using enacted tax rates in effect for the years in which the differences are expected to reverse. The Company recognizes deferred taxes for temporary differences, operating loss carryforwards, and tax credit and other tax attribute carryforwards (excluding carryforwards where usage has been determined to be remote). Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. U.S. state and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to the U.S. and be taxable (and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to an upper-tier non-U.S. entity). Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Deferred U.S. income taxes and non-U.S. taxes are not provided on the excess of the investment value for financial reporting over the tax basis of investments in those non-U.S. subsidiaries for which such excess is considered to be permanently reinvested in those operations. Management regularly evaluates whether non-U.S. earnings are expected to be permanently reinvested. This evaluation requires judgment about the future operating and liquidity needs of the Company and its non-U.S. subsidiaries. Changes in economic and business conditions, tax laws, or the Company’s financial situation could result in changes to these judgments and the need to record additional tax liabilities.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.
The 2017 Tax Cuts and Jobs Act (the "Tax Act"), among other things, imposed a one-time tax (the “Toll Charge”) on accumulated earnings of certain non-U.S. subsidiaries and included base broadening provisions commonly referred to as the global intangible low-taxed income provisions ("GILTI").

In accordance with guidance issued by the FASB staff, the Company has adopted an accounting policy to treat any GILTI inclusions as a period cost if and when incurred. Thus, for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, deferred taxes were computed without consideration of the possible future impact of the GILTI provisions, and any current year impact was recorded as a part of the current portion of income tax expense.

On July 4, 2025, the United States enacted into law the legislation formally titled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” and commonly referred to as the One Big Beautiful Bill Act (“OBBB”). The OBBB contains multiple business tax provisions, including the permanent extension of several expiring provisions of the Tax Act and multiple modifications to the international tax framework. The legislation has multiple effective dates with certain provisions effective in 2025 and others to be implemented in future years, and the Company determined the impact for the year ended December 27, 2025 was not significant. The Company will continue to monitor future administrative guidance and regulations that clarify the legislative text of the OBBB and the bill’s potential effect on the Company’s income taxes.
 
Fair Value Measurements
 
Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company records the fair value of its available-for-sale securities and pension plan assets on a recurring basis. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used, long-lived assets held for sale, goodwill, and other intangible assets. The fair value of cash and cash equivalents, short-term investments, accounts receivable, accounts payable, and accrued liabilities approximate their carrying values. The three-tier value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is:
 
Level 1 – Valuations based on unadjusted quoted prices for identical assets and liabilities in active markets.
 
Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
 
Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants.
 
Recently Adopted Accounting Standards

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates ("ASU") No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendments in this update provide more transparency about income tax information through improvements to the income tax disclosure primarily related to the income tax rate reconciliation and income taxes paid information. These requirements include: (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The other amendments in this update improve the effectiveness and comparability of disclosures by (3) adding disclosures of pretax income (or loss) and income tax expense (or benefit), and (4) removing disclosures that are no longer considered cost beneficial or relevant. The guidance is effective for fiscal years beginning after December 15, 2024 with early adoption permitted. The Company adopted ASU 2023-09 for the year ended December 27, 2025, and applied the new disclosure requirements prospectively to the current annual period. Prior period disclosures have not been adjusted to reflect the new disclosure requirements. See Note 14, Income Taxes, for more information and the updated disclosures.
Recently Issued Accounting Standards

In December 2025, the FASB issued ASU No. 2025-12, "Codification Improvements." The amendments in this update represent changes to the codification that clarify, correct errors, or make minor improvements. The amendments make the codification easier to understand and apply. The amendments in this update are varied in nature and may affect the application of guidance in cases in which the original guidance may have been unclear. The guidance is effective for fiscal years beginning after December 15, 2026 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In December 2025, the FASB issued ASU No. 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements." The amendments in this update result in a comprehensive list of interim disclosures that are required by GAAP. The objective of the amendments is to provide clarity about the current requirements, rather than evaluate whether to expand or reduce interim disclosure requirements. The amendments in this update include a disclosure principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The amendments in this update also clarify the applicability of Topic 270, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP. The guidance is effective for fiscal years beginning after December 15, 2027 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In November 2025, the FASB issued ASU No. 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements." The amendments in this update are intended to more closely align hedge accounting with the economics of an entity's risk management activities.The five issues addressed in this update (1) expand the hedged risks permitted to be aggregated in a group of individual forecasted transactions in a cash flow hedge by changing the requirement to designate a group of individual forecasted transactions from having a shared risk exposure to having a similar risk exposure, (2) provide a model to facilitate the application of cash flow hedge accounting to forecasted interest payments on variable-rate debt instruments with contractual terms that permit the borrower to change the interest rate index and interest rate tenor upon which interest is accrued, (3) expand hedge accounting for forecasted purchases and sales of nonfinancial assets, (4) update the hedge accounting guidance to accommodate differences in the loan and swap markets that developed after the cessation of the London Interbank Offered Rate, and (5) eliminate the recognition and presentation mismatch related to a dual hedge strategy. The guidance is effective for fiscal years beginning after December 15, 2026 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In September 2025, the FASB issued ASU No. 2025-06, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software." The amendments in this update require the entity to start capitalizing software costs when both of the following criteria are met: (1) management has authorized and committed to funding the software project, and (2) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the "probable-to-complete recognition threshold"). The amendments clarify that the intangibles disclosures are not required for capitalized internal-use software costs. Additionally, the amendments in this update supersede the website development costs guidance and incorporate the recognition requirements for website-specific development costs. The guidance is effective for fiscal years beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the potential effects of these amendments on its Consolidated Financial Statements.

In September 2025, the FASB issued ASU No. 2025-05, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets." The amendments in this update provide entities with a practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. In developing reasonable and supportable forecasts as part of estimating expected credit losses, the practical expedient allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. The guidance is effective for fiscal years beginning after December 15, 2025 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. The amendments require that at each interim and annual reporting period an entity (a) disclose the amounts of (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization, and (v) depreciation, depletion, and amortization recognized as part of oil and gas producing activities ("DD&A") included in each relevant expense caption. A relevant expense caption is an expense caption presented on the face of the income statement within continuing operations that contains any of the expense categories listed in (i)–(v); (b) include certain amounts that are already required to be disclosed under current Generally Accepted Accounting Principles ("GAAP") in the same disclosure as the other disaggregation requirements; (c) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; (d) disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The adoption of this guidance will increase the Company's disclosures in its Consolidated Financial Statements. The Company is currently evaluating the potential impact on the disclosures in the Company's Consolidated Financial Statements.

In October 2023, the FASB issued ASU No. 2023-06, "Disclosure Improvements." The amendments in this update represent changes to clarify or improve the disclosure or presentation requirements of a variety of Topics in the ASC. The Company may be affected by one or more of those amendments. The amendments in this ASU should be applied prospectively and will not be effective until June 30, 2027. The Company is currently evaluating the potential effects of these amendments on its Consolidated Financial Statements.
v3.25.4
Acquisitions
 12 Months Ended
Dec. 27, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
 
The Company accounts for acquisitions using the acquisition method in accordance with ASC 805, “Business Combinations,” in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition. The operating results of the acquired businesses are included in the Company’s Consolidated Financial Statements from the date of the acquisition.
 
Basler Electric

On December 11, 2025, the Company completed the acquisition of Basler. Basler is a leading designer and manufacturer of innovative electrical control and protection solutions for high-growth industrial markets including grid and utility infrastructure, power generation and data center. At the time of acquisition, Basler had annualized sales of approximately $130 million. The business is reported within the Company’s Industrial segment. The purchase price for Basler was $361.7 million and is subject to a working capital adjustment.

The Company financed the transaction with cash on hand. The total purchase consideration of $350.3 million, net of cash acquired, has been allocated, on a preliminary basis, based on estimated fair values of assets acquired and liabilities assumed. As of December 27, 2025, the Company’s purchase price allocation reflects various provisional estimates that were based on the information that was available as of the acquisition date and the filing date of this Form 10-K. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the determination of those fair values, including the third-party valuation of acquired tangible and intangible assets, is not yet finalized. Thus, the preliminary measurements of fair value set forth in the table below are subject to change during the measurement period as valuations are finalized. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable.

The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Basler acquisition:

(in thousands)Purchase Price
Allocation
Total purchase consideration: 
Cash, net of cash acquired$350,301 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net16,798 
Inventories23,363 
Other current assets2,965 
Property, plant, and equipment23,237 
Intangible assets150,000 
Goodwill152,343 
Other long-term assets5,731 
Current liabilities(21,386)
Other long-term liabilities(2,750)
 $350,301 

All Basler assets and liabilities were recorded in the Industrial segment and are primarily reflected in the North America geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Basler’s products and technology with the Company’s existing Industrial products portfolio. Goodwill resulting from the Basler acquisition is expected to be deductible for tax purposes.

Included in the Company’s Consolidated Statements of Net (Loss) Income for the fiscal year ended December 27, 2025 were net sales of $3.7 million, and a loss before income taxes of $1.2 million, respectively, since the December 11, 2025 acquisition of Basler.

As required by purchase accounting guidance, the Company recorded a $6.4 million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. The step-up is being amortized as a non-cash charge to cost of goods sold during the fourth quarter of 2025 and first quarter of 2026, as the acquired inventory is sold, and reflected as other non-segment costs. The Company recognized a non-cash charge of $1.1 million to cost of goods sold during the fiscal year ended December 27, 2025.
For the fiscal year ended December 27, 2025, the Company incurred $2.6 million of legal and professional fees related to the Basler acquisition recognized as Selling, general, and administrative expenses and reflected as other non-segment costs.

Dortmund Fab

On December 31, 2024, the Company completed the acquisition of a 200mm wafer fab located in Dortmund, Germany (“Dortmund Fab”) from Elmos Semiconductor SE. The total purchase price for the Dortmund Fab was approximately €94 million, of which a €37.2 million down payment (approximately $40.5 million) was paid in the third quarter of 2023 after regulatory approvals, and €56.7 million (approximately $58.8 million) was paid at closing. The business is reported in the Electronics-Semiconductor business within the Company’s Electronics segment.

The acquisition was funded with the Company’s cash on hand. The total purchase consideration of $95.9 million, net of cash acquired, has been allocated to assets acquired and liabilities assumed, as of the completion of the acquisition, based on estimated fair values.

The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Dortmund Fab acquisition:

(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, net5,985 
Inventories6,600 
Other current assets8,278 
Property, plant, and equipment30,132 
Intangible assets1,800 
Goodwill57,321 
Other long-term assets8,579 
Current liabilities(7,464)
Other long-term liabilities(15,289)
 $95,942 

All Dortmund Fab assets and liabilities were recorded in the Electronics segment and are primarily reflected in the Europe geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Dortmund Fab’s products and technology with the Company’s existing semiconductor products portfolio. Goodwill resulting from the Dortmund Fab acquisition is expected to be deductible for tax purposes.

Included in the Company’s Consolidated Statements of Net (Loss) Income for the fiscal year ended December 27, 2025 were net sales of $49.0 million, and a loss before income taxes of $69.1 million, respectively, since the December 31, 2024 acquisition of Dortmund Fab. The loss before income taxes included the goodwill impairment charge of $64.6 million recorded in the fourth quarter of the fiscal year 2025.

As required by purchase accounting guidance, the Company recorded a $0.5 million step-down of inventory to its fair value as of the acquisition date based on the valuation. The step-down was fully amortized as a non-cash credit to cost of sales during the first fiscal quarter of 2025 as the acquired inventory was sold and reflected as other non-segment costs.

For the fiscal year ended December 28, 2024 and December 30, 2023, the Company incurred $0.5 million and $3.0 million, respectively, of legal and professional fees related to the Dortmund Fab acquisition recognized as Selling, general, and administrative expenses and reflected as other non-segment costs. A total of $3.5 million of legal and professional fees related to the Dortmund Fab acquisition was recognized since 2023. These costs were reflected as other non-segment costs.

Western Automation

On February 3, 2023, the Company completed the acquisition of Western Automation Research and Development Limited (“Western Automation”) for approximately $162 million in cash. Headquartered in Galway, Ireland, Western Automation is a designer and manufacturer of electrical shock protection devices used across a broad range of high-growth end markets,
including electric vehicle charging infrastructure, industrial safety and renewables. At the time the Company and Western Automation entered into the definitive agreement, Western Automation had annualized sales of approximately $25 million. The business is reported within the Company’s Industrial segment.

The acquisition was funded with cash on hand. The total purchase consideration of $158.3 million, net of cash, has been allocated to assets acquired and liabilities assumed, as of the completion of the acquisition, based on estimated fair values.

The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Western Automation acquisition:

(in thousands)Purchase Price
Allocation
Total purchase consideration: 
Cash, net of cash acquired$158,260 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net3,359 
Inventories3,678 
Other current assets718 
Property, plant, and equipment1,328 
Intangible assets68,000 
Goodwill93,937 
Other long-term assets573 
Current liabilities(4,335)
Other long-term liabilities(8,998)
 $158,260 

All Western Automation assets and liabilities were recorded in the Industrial segment and are primarily reflected in the Europe geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Western Automation’s products and technology with the Company’s existing Industrial products portfolio. Goodwill resulting from the Western Automation acquisition is not expected to be deductible for tax purposes.

For the fiscal year ended December 30, 2023, the Company incurred $1.2 million of legal and professional fees related to the Western Automation acquisition recognized as Selling, general, and administrative expenses and reflected as other non-segment costs.

Pro Forma Results

The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company, Basler and Dortmund Fab as though the acquisitions had occurred as of December 31, 2023, and Western Automation as though the acquisition had occurred as of January 2, 2022. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the Basler and Dortmund Fab acquisitions occurred as of December 31, 2023, and Western Automation acquisition occurred as of January 2, 2022 or of future consolidated operating results.
 For the Fiscal Year Ended
(in thousands, except per share amounts)December 27, 2025December 28, 2024December 30, 2023
Net sales$2,515,937 $2,354,262 $2,364,543 
Income before income taxes11,474 148,476 330,114 
Net (loss) income(66,100)96,901 260,812 
Net (loss) income per share — basic(2.66)3.90 10.49 
Net (loss) income per share — diluted(2.66)3.87 10.39 

Pro forma results presented above primarily reflect the following adjustments:
 For the Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Amortization (a)$(11,009)$(10,481)$(479)
Depreciation(833)(1,821)— 
Transaction costs (b)2,536 (2,535)1,203 
Amortization of unfavorable production contract (c)— 2,269 — 
Amortization of inventory adjustment (d)563 (5,890)— 
Income tax benefit (expense) of above items2,130 4,352 (91)
Total$(6,613)$(14,106)$633 

(a)The amortization adjustment for the twelve months ended December 27, 2025, December 28, 2024, and December 30, 2023, primarily reflects incremental amortization resulting from the measurement of intangibles at their fair values.
(b)The transaction cost adjustments reflect the reversal of certain legal and professional fees from the twelve months ended December 27, 2025 and December 30, 2023, respectively, and recognition of those fees during the twelve months ended December 28, 2024 and December 31, 2022, respectively.
(c)The amortization of the unfavorable production contract during the twelve months ended December 28, 2024 results from the fair value assigned to the unfavorable production contract liability that is amortized over four years.
(d)The amortization of inventory adjustment reflects the reversal of the amount recognized during the twelve months ended December 27, 2025 and recognition of the amortization during the twelve months ended December 28, 2024. The inventory adjustment related to the Basler acquisition is being amortized over three months as the inventory is sold. The inventory adjustment related to the Dortmund Fab acquisition was fully amortized over two months as the inventory was sold during 2025.
v3.25.4
Inventories
 12 Months Ended
Dec. 27, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
 
The components of inventories at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Raw materials$186,662 $193,788 
Work in process131,129 115,497 
Finished goods181,376 173,513 
Inventory reserves(82,695)(66,525)
Total$416,472 $416,273 
v3.25.4
Property, Plant, and Equipment, net
 12 Months Ended
Dec. 27, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment, net Property, Plant, and Equipment, net
 
The components of net property, plant, and equipment at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Land and land improvements$24,088 $17,593 
Building and building improvements215,024 192,441 
Machinery and equipment998,988 892,940 
Accumulated depreciation and amortization(697,460)(625,906)
Total$540,640 $477,068 
The Company recorded depreciation expense of $74.9 million, $68.3 million, and $71.6 million for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively, in Cost of sales, Selling, general, and administrative expenses, and Research and development expenses in the Consolidated Statements of Net (Loss) Income.
v3.25.4
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
 
The amounts for goodwill and changes in the carrying value by segment were as follows:
 
(in thousands)Electronics
Transportation
IndustrialTotal
Gross goodwill as of December 30, 2023
$936,505 $237,115 $179,117 $1,352,737 
Accumulated impairment losses as of December 30, 2023
— (34,004)(8,735)(42,739)
Net goodwill as of December 30, 2023
$936,505 $203,111 $170,382 $1,309,998 
Changes during 2024:
Impairments— (8,616)(36,147)(44,763)
Foreign currency translation adjustments(29,634)(2,854)(4,245)(36,733)
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)
Net goodwill as of December 28, 2024
$906,871 $191,641 $129,990 $1,228,502 
Changes during 2025:
Additions (a)57,321 — 152,343 209,664 
Impairments(301,185)— — (301,185)
Foreign currency translation adjustments61,322 5,758 7,350 74,430 
Gross goodwill as of December 27, 2025
1,027,462 242,192 338,739 1,608,393 
Accumulated impairment losses as of December 27, 2025
(303,133)(44,793)(49,056)(396,982)
Net goodwill as of December 27, 2025
$724,329 $197,399 $289,683 $1,211,411 

(a) The additions resulted from the acquisitions of Dortmund Fab and Basler.

The Company tests its goodwill annually for impairment on the first day of its fiscal fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The results of the goodwill impairment test as of September 28, 2025 indicated that the estimated fair value for the Electronics-Semiconductor reporting unit was below its respective carrying value. Accordingly, the Company recorded a non-cash charge of $301.2 million to reflect the impairment of goodwill for the Electronics-Semiconductor reporting unit within the Electronics segment during the fourth quarter of 2025.

The goodwill impairment charge for the Electronics-Semiconductor reporting unit in the fourth quarter of 2025 was due to reductions in the estimated fair value from lower expectations for future revenue, profitability and cash flows for the Electronics-Semiconductor reporting unit as compared to the expectations of the 2024 annual goodwill impairment test. In the context of a recent leadership transition and strategic reassessment in the semiconductor business, the reduction was primarily driven by lower projected volumes in the power semiconductor business, largely associated with the Dortmund Fab.

During the fourth quarter of 2024, the Company recorded non-cash charges of $36.1 million and $8.6 million, respectively, to reflect the impairment of goodwill for the Industrial controls and sensors reporting unit within the Industrial segment and the Automotive sensors reporting unit within the Transportation segment. There were no impairment charges recorded during the fiscal year of 2023. The goodwill impairment charge for the Industrial controls and sensors reporting unit was due to a reduction in the estimated fair value of the reporting unit based on lower expectations for future revenue, profitability and cash flows as compared to the expectations of the 2023 annual goodwill impairment test driven by lower-than-expected demand in the electric vehicle end market as well as reduced government funding to support charging infrastructures for electric vehicles, primarily in Europe.

The goodwill impairment charge was determined using Level 3 inputs, including discounted cash flow analysis and comparable marketplace fair value data. As of December 27, 2025, the Electronics-Semiconductor and the Industrial Controls and Sensors reporting units had $238.5 million and $274.9 million of remaining goodwill, respectively.
The components of intangible assets at December 27, 2025 and December 28, 2024 were as follows:

 As of December 27, 2025
(in thousands)Gross
Carrying
Value
 
Accumulated
Amortization
 
Net Book
Value
Land use rights$16,661 $3,613 $13,048 
Patents, licenses, and software291,192 212,184 79,008 
Distribution network42,384 42,384 — 
Customer relationships, trademarks, and tradenames793,670 290,819 502,851 
Total$1,143,907 $549,000 $594,907 

 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 software260,096 180,674 79,422 
Distribution network41,667 41,667 — 
Customer relationships, trademarks, and tradenames632,572 242,961 389,611 
Total$950,414 $468,296 $482,118 

During the fiscal year ended December 27, 2025, the Company recorded additions to other intangible assets of $150.0 million and $1.8 million related to the Basler and Dortmund Fab acquisitions, respectively, the components of which were as follows:
 2025
(in thousands, except weighted average useful life)Weighted Average
Useful Life (Years)		Amount
Basler
Patents, developed technology6.0$15,000 
Customer relationships, trademarks, and tradenames13.6135,000 
$150,000 
Dortmund Fab
Customer relationships, trademarks, and tradenames5.0$1,800 
 
For intangible assets with definite lives, the Company recorded amortization expense of $59.8 million, $62.1 million, and $65.8 million in 2025, 2024, and 2023, respectively.

During the fourth quarter of 2024, the Company recorded non-cash impairment charges of $47.8 million for the impairment of intangible assets, including $47.6 million related to the impairment of certain acquired customer relationships, developed technology, and tradename intangible assets in the Industrial Controls and Sensors reporting unit within the Industrial segment. This impairment resulted from lower expectations of future revenue and cash flows and was determined using Level 3 inputs and estimated based on cash flow analyses, which included management’s assumptions related to future revenues and profitability. The remaining impairment charges included $0.2 million for patents and customer relationships related to the exit of a small business in China within Industrial segment. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment related to certain machinery and equipment in the commercial vehicle business within the Transportation segment.
Estimated annual amortization expense related to intangible assets with definite lives at December 27, 2025 is as follows:
 
(in thousands)
Amount
2026$61,306 
202759,123 
202858,720 
202958,309 
203054,908 
2031 and thereafter302,541 
Total$594,907 
v3.25.4
Accrued Liabilities
 12 Months Ended
Dec. 27, 2025
Payables and Accruals [Abstract]  
Accrued Liabilities Accrued Liabilities
 
The components of accrued liabilities at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Employee-related liabilities$114,662 $67,639 
Current lease liability11,435 13,900 
Deferred revenue11,215 1,557 
Other non-income taxes7,960 7,022 
Interest7,069 8,131 
Professional services6,629 6,613 
Restructuring liability6,014 4,624 
Other customer reserves2,874 3,450 
Current benefit liability1,680 1,514 
Current hedge liability— 4,067 
Other29,733 29,759 
Total$199,271 $148,276 

Employee-related liabilities consist primarily of payroll, sales commission, bonus, employee benefit accruals and workers’ compensation. Bonus accruals include amounts earned pursuant to the Company’s primary employee incentive compensation plans. Other accrued liabilities include miscellaneous operating accruals and other customer-related liabilities.
v3.25.4
Lease Commitments
 12 Months Ended
Dec. 27, 2025
Leases [Abstract]  
Lease Commitments Lease Commitments
Under ASC 842, a contract contains a lease if there is an identified asset and the Company has the right to control the asset. The Company determines whether a contract contains a lease at contract inception. The Company leases office and production space under various non-cancellable operating leases that expire no later than 2036. Certain real estate leases include one or more options to renew. The exercise of lease renewal options is at the Company's sole discretion. Options to extend the lease are included in the lease term when it is reasonably certain the Company will exercise the option. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option that is reasonably certain of exercise. Certain leases include rental payments adjusted periodically for inflation. The lease agreements do not contain any material residual value guarantee or material restrictive covenants. The Company has elected to use the available practical expedient to account for the lease and non-lease components of its leases as a single component. As the Company elected not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance and utilities.

The Company does not have a published credit rating because it has no publicly traded debt; therefore, the Company is generating its incremental borrowing rate ("IBR"), using a synthetic credit rating model that compares its credit quality to other rated companies based on certain financial metrics and ratios. The reference rate will be based on the yield curve of companies with similar credit quality based on the metrics and adjusted for currency in regions where we have significant operations.

All leases with an initial term of 12 months or less that do not include an option to extend or purchase the underlying asset that the Company is reasonably certain to exercise (“short-term leases”) are not recorded on the Consolidated Balance Sheets. Short-term lease expenses are recognized on a straight-line basis over the lease term.
The following table presents the classification of right of use assets and lease liabilities as of December 27, 2025 and December 28, 2024:
Fiscal Year Ended

(in thousands)		Consolidated Balance Sheet ClassificationDecember 27, 2025December 28, 2024
Operating Leases
Right of use assets - operating leaseRight of use lease assets$85,318 $71,513 
Current operating lease liabilitiesAccrued liabilities11,347 13,626 
Non-current operating lease liabilitiesNon-current lease liabilities71,664 60,558 
Total operating lease liabilities$83,011 $74,184 
Finance Leases
Right of use assets - finance leaseRight of use lease assets$945 $698 
Current finance lease liabilitiesAccrued liabilities88 274 
Non-current finance lease liabilitiesNon-current lease liabilities101 1 
Total finance lease liabilities$189 $275 

The following table represents the lease costs for 2025, 2024, and 2023:
Fiscal Year Ended

(in thousands)		Consolidated Statements of Net (Loss) Income ClassificationDecember 27, 2025December 28, 2024December 30, 2023
Operating lease expensesCost of sales, Selling, general, and administrative expenses$18,906 $17,310 $15,817 
Finance lease:
Finance lease expensesCost of sales107 96 219 
Interest on lease liabilitiesOther (income) expense, net9 8 19 
Short-term lease expensesCost of sales, Selling, general, and administrative expenses758 1,170 1,229 
Variable lease expensesCost of sales, Selling, general, and administrative expenses1,407 1,151 1,034 
Total lease costsCost of sales, Selling, general, and administrative expenses$21,187 $19,735 $18,318 
 
The Company leases certain office and warehouse space as well as certain machinery and equipment under non-cancellable operating leases. Rent expense under these leases was $21.2 million, $19.7 million, and $18.3 million in 2025, 2024, and 2023, respectively.

Maturity of lease liabilities as of December 27, 2025
(in thousands)
Operating LeasesFinance Leases
2026$15,282 $94 
202714,481 97 
202813,681 4 
202913,031 4 
203010,583 — 
2031 and thereafter35,091 — 
Total lease payments$102,149 $199 
Less: Imputed interest(19,138)(10)
Present value of lease liabilities$83,011 $189 
Fiscal Year Ended
December 27, 2025December 28, 2024
Weighted-average remaining lease term (years)
Operating leases7.638.67
Finance leases1.561.00
Weighted-average discount rate
Operating leases5.07 %5.39 %
Finance leases5.30 %2.00 %
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow - payments on operating leases$(19,848)$(13,258)$(14,518)
Operating cash flow - interest payments on finance leases(9)(8)(19)
Financing cash flow - payments on finance lease obligations(377)(280)(1,164)
Leased assets obtained in exchange of new lease obligations, including leases acquired:
Operating leases$21,895 $26,785 $16,689 
Finance leases269 — — 
There were no sale leaseback transactions for the fiscal years ended December 27, 2025 and December 30, 2023. The net gain recorded from a sale leaseback transaction was $0.3 million for the fiscal year ended December 28, 2024.
Lease Commitments Lease Commitments
Under ASC 842, a contract contains a lease if there is an identified asset and the Company has the right to control the asset. The Company determines whether a contract contains a lease at contract inception. The Company leases office and production space under various non-cancellable operating leases that expire no later than 2036. Certain real estate leases include one or more options to renew. The exercise of lease renewal options is at the Company's sole discretion. Options to extend the lease are included in the lease term when it is reasonably certain the Company will exercise the option. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option that is reasonably certain of exercise. Certain leases include rental payments adjusted periodically for inflation. The lease agreements do not contain any material residual value guarantee or material restrictive covenants. The Company has elected to use the available practical expedient to account for the lease and non-lease components of its leases as a single component. As the Company elected not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance and utilities.

The Company does not have a published credit rating because it has no publicly traded debt; therefore, the Company is generating its incremental borrowing rate ("IBR"), using a synthetic credit rating model that compares its credit quality to other rated companies based on certain financial metrics and ratios. The reference rate will be based on the yield curve of companies with similar credit quality based on the metrics and adjusted for currency in regions where we have significant operations.

All leases with an initial term of 12 months or less that do not include an option to extend or purchase the underlying asset that the Company is reasonably certain to exercise (“short-term leases”) are not recorded on the Consolidated Balance Sheets. Short-term lease expenses are recognized on a straight-line basis over the lease term.
The following table presents the classification of right of use assets and lease liabilities as of December 27, 2025 and December 28, 2024:
Fiscal Year Ended

(in thousands)		Consolidated Balance Sheet ClassificationDecember 27, 2025December 28, 2024
Operating Leases
Right of use assets - operating leaseRight of use lease assets$85,318 $71,513 
Current operating lease liabilitiesAccrued liabilities11,347 13,626 
Non-current operating lease liabilitiesNon-current lease liabilities71,664 60,558 
Total operating lease liabilities$83,011 $74,184 
Finance Leases
Right of use assets - finance leaseRight of use lease assets$945 $698 
Current finance lease liabilitiesAccrued liabilities88 274 
Non-current finance lease liabilitiesNon-current lease liabilities101 1 
Total finance lease liabilities$189 $275 

The following table represents the lease costs for 2025, 2024, and 2023:
Fiscal Year Ended

(in thousands)		Consolidated Statements of Net (Loss) Income ClassificationDecember 27, 2025December 28, 2024December 30, 2023
Operating lease expensesCost of sales, Selling, general, and administrative expenses$18,906 $17,310 $15,817 
Finance lease:
Finance lease expensesCost of sales107 96 219 
Interest on lease liabilitiesOther (income) expense, net9 8 19 
Short-term lease expensesCost of sales, Selling, general, and administrative expenses758 1,170 1,229 
Variable lease expensesCost of sales, Selling, general, and administrative expenses1,407 1,151 1,034 
Total lease costsCost of sales, Selling, general, and administrative expenses$21,187 $19,735 $18,318 
 
The Company leases certain office and warehouse space as well as certain machinery and equipment under non-cancellable operating leases. Rent expense under these leases was $21.2 million, $19.7 million, and $18.3 million in 2025, 2024, and 2023, respectively.

Maturity of lease liabilities as of December 27, 2025
(in thousands)
Operating LeasesFinance Leases
2026$15,282 $94 
202714,481 97 
202813,681 4 
202913,031 4 
203010,583 — 
2031 and thereafter35,091 — 
Total lease payments$102,149 $199 
Less: Imputed interest(19,138)(10)
Present value of lease liabilities$83,011 $189 
Fiscal Year Ended
December 27, 2025December 28, 2024
Weighted-average remaining lease term (years)
Operating leases7.638.67
Finance leases1.561.00
Weighted-average discount rate
Operating leases5.07 %5.39 %
Finance leases5.30 %2.00 %
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow - payments on operating leases$(19,848)$(13,258)$(14,518)
Operating cash flow - interest payments on finance leases(9)(8)(19)
Financing cash flow - payments on finance lease obligations(377)(280)(1,164)
Leased assets obtained in exchange of new lease obligations, including leases acquired:
Operating leases$21,895 $26,785 $16,689 
Finance leases269 — — 
There were no sale leaseback transactions for the fiscal years ended December 27, 2025 and December 30, 2023. The net gain recorded from a sale leaseback transaction was $0.3 million for the fiscal year ended December 28, 2024.
v3.25.4
Restructuring, Impairment, and Other Charges
 12 Months Ended
Dec. 27, 2025
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Other Charges Restructuring, Impairment, and Other Charges
The Company recorded restructuring, impairment, and other charges for fiscal years 2025, 2024, and 2023 as follows:
Fiscal Year Ended December 27, 2025
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$8,708 $7,542 $992 $17,242 
Other restructuring charges639 116 1 756 
   Total restructuring charges9,347 7,658 993 17,998 
Impairment 301,521 531 — 302,052 
   Total$310,868 $8,189 $993 $320,050 

Fiscal Year Ended December 28, 2024
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$8,748 $4,620 $583 $13,951 
Other restructuring charges310 543 122 975 
   Total restructuring charges9,058 5,163 705 14,926 
Impairment — 9,549 83,966 93,515 
   Total$9,058 $14,712 $84,671 $108,441 
Fiscal Year Ended December 30, 2023
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$4,162 $3,649 $894 $8,705 
Other restructuring charges342 976 1,625 2,943 
   Total restructuring charges4,504 4,625 2,519 11,648 
Impairment 111 3,870 872 4,853 
   Total$4,615 $8,495 $3,391 $16,501 

2025
For the year ended December 27, 2025, the Company recorded $302.1 million of non-cash impairment charges, which included a $301.2 million non-cash goodwill impairment charge associated with the Electronics-Semiconductor reporting unit within the Electronics segment. The remaining impairment charges included $0.5 million and $0.4 million of impairment charges related to certain machinery and equipment in the commercial vehicle business within the Transportation segment and the electronics products business within the Electronics segment, respectively. The Company also recorded total restructuring charges of $18.0 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions in the power semiconductor business within the Electronics segment and the reorganization of certain manufacturing, selling and administrative functions in the commercial vehicle business and automotive sensors business within the Transportation segment. See Note 5, Goodwill and Other Intangible Assets for further discussion regarding the goodwill and intangible impairment charges.

2024
For the year ended December 28, 2024, the Company recorded $93.5 million of non-cash impairment charges, which included $47.8 million for the impairment of intangible assets primarily related to certain acquired customer relationships, developed technology, and tradename in the Industrial Controls and Sensors reporting unit within the Industrial segment, and $36.1 million and $8.6 million of non-cash goodwill impairment charges associated with the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive sensors reporting unit within the Transportation segment, respectively. The remaining impairment charges included $0.2 million for patents and customer relationships related to the exit of a small business in China within the Industrial segment. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment related to certain machinery and equipment in the commercial vehicle business within the Transportation segment. The Company also recorded total restructuring charges of $14.9 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions in the semiconductor business within the Electronics segment and the reorganization of certain selling and administrative functions in the commercial vehicle business within the Transportation segment. See Note 5, Goodwill and Other Intangible Assets for further discussion regarding the goodwill and intangible impairment charges.

2023
For the year ended December 30, 2023, the Company recorded total restructuring charges of $11.6 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions within the Transportation segment's commercial vehicle business, the reorganization of certain selling and administrative functions within the Electronics segment due to the C&K Switches acquisition, and reorganization of certain manufacturing, selling and administrative functions within the Industrial segment. During 2023, the Company recorded a $3.9 million impairment charge related to the land and building of a property in the commercial vehicle business within the Transportation segment that the Company made the decision to donate, a $0.9 million impairment charge substantially related to certain patents in a business within the Industrial segment, and a $0.1 million impairment related to certain machinery and equipment in the semiconductor business within the Electronics segment.

The restructuring reserves as of December 27, 2025 and December 28, 2024 were $6.0 million and $4.6 million, respectively included within Accrued liabilities. Additionally, $0.3 million was included within Other long-term liabilities in the Consolidated Balance Sheets as of December 27, 2025. Payments associated with employee terminations reflected in the above table were substantially completed by December 27, 2025. The Company anticipates that the remaining payments associated with employee terminations will be substantially completed in fiscal 2026.
v3.25.4
Debt
 12 Months Ended
Dec. 27, 2025
Debt Disclosure [Abstract]  
Debt Debt
 
The carrying amounts of debt at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)
20252024
Revolving credit facility$100,000 $100,000 
Term loan266,250 281,250 
Euro Senior Notes, Series B due 2028111,977 98,928 
U.S. Senior Notes, Series A due 2025— 50,000 
U.S. Senior Notes, Series B due 2027100,000 100,000 
U.S. Senior Notes, Series B due 2030125,000 125,000 
U.S. Senior Notes, due 2032100,000 100,000 
Other1,233 3,702 
Unamortized debt issuance costs(1,833)(2,766)
Total debt802,627 856,114 
Less: Current maturities(96,233)(67,612)
Total long-term debt$706,394 $788,502 

Interest paid on all Company debt was $34.4 million, $36.2 million, and $37.2 million in fiscal year 2025, 2024, and 2023, respectively, which included cash settlements received from the interest rate swap entered on May 12, 2022.
 
Revolving Credit Facility and Term Loan

On June 30, 2022, the Company amended and restated its Credit Agreement, dated as of April 3, 2020 (as so amended and restated, the “Credit Agreement”) to effect certain changes, including, among other changes: (i) adding a $300 million unsecured term loan credit facility; (ii) making certain financial and non-financial covenants less restrictive on the Company and its subsidiaries; (iii) replacing LIBOR-based interest rate benchmarks and modifying performance-based interest rate margins; and (iv) extending the maturity date to June 30, 2027 (the “Maturity Date”). Pursuant to the Credit Agreement, the Company may, from time to time, increase the size of the revolving credit facility or enter into one or more tranches of term loans in minimum increments of $25 million if there is no event of default and the Company is in compliance with certain financial covenants.

Loans made under the available credit facility pursuant to the Credit Agreement (the "Credit Facility") bear interest at the Company’s option, at either SOFR, fixed for interest periods of one, two, three or six-month periods, plus 1.00% to 1.75%, plus a SOFR adjustment of 0.10% or at the bank’s Base Rate, as defined in the Credit Agreement, plus 0.00% to 0.75%, based upon the Company’s Consolidated Leverage Ratio, as defined in the Credit Agreement. The Company is also required to pay commitment fees on unused portions of the Credit Facility ranging from 0.10% to 0.175%, based on the Consolidated Leverage Ratio, as defined in the Credit Agreement. The Credit Agreement includes representations, covenants and events of default that are customary for financing transactions of this nature.

Under the Credit Agreement, revolving loans may be borrowed, repaid and reborrowed until the Maturity Date, at which time all amounts borrowed must be repaid. The Company borrowed $300.0 million under a term loan on June 30, 2022. The principal balance of the term loans must be repaid in quarterly installments on the last day of each calendar quarter in the amount of $1.9 million commencing September 30, 2022, through June 30, 2024, and in the amount of $3.8 million commencing September 30, 2024, through March 31, 2027, with the remaining outstanding principal balance payable in full on the Maturity Date. Accrued interest on the loans is payable in arrears on each interest payment date applicable thereto and at such other times as may be specified in the Credit Agreement. Subject to certain conditions, (i) the Company may terminate or reduce the Aggregate Revolving Commitments, as defined in the Credit Agreement, in whole or in part, and (ii) the Company may prepay the revolving loans or the term loans at any time, without premium or penalty. During the fiscal year ended December 27, 2025, the Company made term loan payments of $15.0 million. The revolving loan and term loan balance under the Credit Facility was $100.0 million and $266.3 million, respectively, as of December 27, 2025.

On May 12, 2022, the Company entered into an interest rate swap agreement to manage interest rate risk exposure, effectively converting the interest rate on the Company's SOFR based floating-rate loans to a fixed-rate. The interest rate swap, with a notional value of $200 million, was designated as a cash flow hedge against the variability of cash flows associated with the Company's SOFR based loans scheduled to mature on June 30, 2027.

As of December 27, 2025, the effective interest rate on unhedged portion of the outstanding borrowings under the Credit Facility was 4.82%, and 3.88% on the hedged portion.
As of December 27, 2025, the Company had $1.1 million outstanding in letters of credit and had available $598.9 million of borrowing capacity under the revolving credit facility. As of December 27, 2025, the Company was in compliance with all covenants under the credit agreement.

Senior Notes
 
On December 8, 2016, the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold €212 million aggregate principal amount of senior notes in two series. The funding date for the Euro denominated senior notes occurred on December 8, 2016 for €117 million in aggregate amount of 1.14% Senior Notes, Series A, due December 8, 2023 (“Euro Senior Notes, Series A due 2023”), and €95 million in aggregate amount of 1.83% Senior Notes, Series B due December 8, 2028 (“Euro Senior Notes, Series B due 2028”) (together, the “Euro Senior Notes”). During the fiscal year ended December 30, 2023, the Company paid off €117 million of Euro Senior Notes, Series A due 2023. Interest on the Euro Senior Notes, Series B due 2028 is payable semiannually on June 8 and December 8, commencing June 8, 2017.
 
On December 8, 2016, the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold $125 million aggregate principal amount of senior notes in two series. On February 15, 2017, $25 million in aggregate principal amount of 3.03% Senior Notes, Series A, due February 15, 2022 (“U.S. Senior Notes, Series A due 2022”), and $100 million in aggregate principal amount of 3.74% Senior Notes, Series B, due February 15, 2027 (“U.S. Senior Notes, Series B due 2027”) (together, the “U.S. Senior Notes due 2022 and 2027”) were funded. During the fiscal year ended December 31, 2022, the Company paid off $25 million of U.S. Senior Notes, Series A due 2022. Interest on the U.S. Senior Notes, Series B due 2027 is payable semiannually on February 15 and August 15, commencing August 15, 2017.
 
On November 15, 2017, the Company entered into a Note Purchase Agreement pursuant to which the Company issued and sold $175 million in aggregate principal amount of senior notes in two series. On January 16, 2018, $50 million aggregate principal amount of 3.48% Senior Notes, Series A, due February 15, 2025 (“U.S. Senior Notes, Series A due 2025”) and $125 million in aggregate principal amount of 3.78% Senior Notes, Series B, due February 15, 2030 (“U.S. Senior Notes, Series B due 2030”) (together, the “U.S. Senior Notes due 2025 and 2030”) were funded. During the first fiscal quarter of 2025, the Company paid
off $50 million of U.S. Senior Notes, Series A due 2025. Interest on the U.S. Senior Notes Series B due 2030 is payable on February 15 and August 15, commencing on August 15, 2018.

On May 18, 2022, the above note purchase agreements were amended to, among other things, update certain terms, including financial covenants to be consistent with the terms of the restated Credit Agreement and the 2022 Purchase Agreement, as defined below.

On May 18, 2022, the Company entered into a Note Purchase Agreement (“2022 Purchase Agreement”) pursuant to which the Company issued and funded on July 18, 2022 $100 million in aggregate principal amount of 4.33% Senior Notes, due June 30, 2032 (“U.S. Senior Notes, due 2032”) (together with the U.S. Senior Notes due 2025 and 2030, the Euro Senior Notes and the U.S. Senior Notes due 2022 and 2027, the “Senior Notes”). Interest on the U.S. Senior Notes due 2032 is payable semiannually on June 30 and December 30, commencing on December 30, 2022.

The Senior Notes have not been registered under the Securities Act, or applicable state securities laws. The Senior Notes are general unsecured senior obligations and rank equal in right of payment with all existing and future unsecured unsubordinated indebtedness of the Company.

The Senior Notes are subject to certain customary covenants, including limitations on the Company’s ability, with certain exceptions, to engage in mergers, consolidations, asset sales and transactions with affiliates, to engage in any business that would substantially change the general business of the Company, and to incur liens. In addition, the Company is required to satisfy certain financial covenants and tests relating to, among other matters, interest coverage and leverage. As of December 27, 2025, the Company was in compliance with all covenants under the Senior Notes.
 
The Company may redeem the Senior Notes upon the satisfaction of certain conditions and the payment of a make-whole amount to noteholders, and is required to offer to repurchase the Senior Notes at par following certain events, including a change of control.
Debt Issuance Costs

During fiscal year 2022, the Company paid debt issuance costs of $2.7 million in connection with the amended and restated Credit Agreement, dated June 30, 2022 which, along with the remaining balance of debt issuance costs of the previous credit facility, are being amortized over the life of the amended and restated Credit Agreement.

Debt Maturities

Scheduled maturities of the Company’s long-term debt for each of the five years succeeding December 27, 2025 and thereafter are summarized as follows:
 
(in thousands)
Scheduled
Maturities
2026$96,233 
2027371,250 
2028111,977 
2029— 
2030125,000 
2031 and thereafter100,000 
 $804,460 
v3.25.4
Fair Value of Assets and Liabilities
 12 Months Ended
Dec. 27, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities
For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a three-level hierarchy of measurements based upon observable and unobservable inputs is used to arrive at fair value. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions about valuation based on the best information available in the circumstances. Depending on the inputs, the Company classifies each fair value measurement as follows:
 
Level 1—Valuations based on unadjusted quoted prices for identical assets or liabilities in active markets;
 
Level 2—Valuations based upon quoted prices for similar instruments, prices for identical or similar instruments in markets that are not active, or model-derived valuations, all of whose significant inputs are observable or can be corroborated by observable market data;
 
Level 3—Valuations based upon one or more significant unobservable inputs;
 
There were no transfers in or out of Level 1, Level 2 and Level 3 during the year ended December 27, 2025.

Following is a description of the valuation methodologies used for instruments measured at fair value and their classification in the valuation hierarchy.

Cash Equivalents

Cash equivalents primarily consist of money market funds, certificates of deposit, and short-term time deposits, which are held with institutions with sound credit ratings and are highly liquid. The Company classified cash equivalents as Level 1 and are valued at cost, which approximates fair value.
 
Investments in Equity Securities
 
Investments in equity securities listed on a national market or exchange are valued at the last sales price and classified within Level 1 of the valuation hierarchy. Such securities are further detailed in Note 1, Summary of Significant Accounting Policies and Other Information.

Derivatives Designated as Hedging Instruments
For derivatives that will be accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective, and the strategy for undertaking the hedge transaction. In addition, the Company formally assesses, both at the inception and at least quarterly thereafter, whether the financial instruments used in hedging transactions are effective at offsetting changes in either the fair values or cash flows of the related underlying exposures. For highly effective cash flow hedges, ASC 815 requires the entire change in fair value of the hedging instrument included in the assessment of hedge effectiveness to be recorded in other comprehensive income. No components of the Company's hedging instruments were excluded from the assessment of hedge effectiveness.

Zero Cost Collar Agreement

In July 2024, the Company implemented a hedging program to manage foreign currency risk exposure related to fluctuations between the U.S. dollar and Mexican peso. These foreign currency zero cost collars are designated as cash flow hedges for a portion of our Mexican peso-denominated manufacturing expenses, predominantly salary expenses, vendor payments, and utility expenses. If the spot rate is between the weighted-average ceiling and floor rates on the date of maturity, then the Company would not owe or receive any payments under these collars. The Company plans to continue executing zero cost collars with 14-month rolling maturities as an ongoing strategy to hedge peso-denominated manufacturing expenses. The trade
entry date, maturity date, weighted-average floor, and weighted-average ceiling for each collar trade was as follows:

Trade Entry DateTrade Maturity DateWeighted-Average FloorWeighted-Average Ceiling
July 3, 2024August 29, 202518.000019.4350
August 5, 2024September 29, 202519.655021.0000
September 3, 2024November 3, 202520.082021.7571
September 30, 2024November 26, 202519.870021.3650
November 4, 2024January 2, 202620.120021.6900
December 3, 2024February 2, 202620.425022.0377
January 2, 2025March 2, 202620.800021.9082
February 6, 2025March 30, 202620.530022.0000
April 9, 2025June 1, 202620.970022.2355
May 1, 2025June 29, 202619.694020.9700
June 4, 2025August 3, 202619.310020.3437
July 2, 2025August 31, 202618.850019.8025
August 5, 2025September 29, 202618.850019.8000
September 2, 2025November 2, 202618.810019.8347
September 30, 2025November 30, 202618.420019.3700
November 4, 2025January 4, 202718.720019.7000
November 26, 2025February 2, 202718.430019.4852

The fair value of the collars was determined using an independent third-party valuation model. Pursuant to this model, changes in fair value of derivatives that are designated as cash flow hedges are deferred in accumulated other comprehensive loss until the underlying transactions are recognized in earnings. For the fiscal year ended December 27, 2025, the Company recorded a pre-tax unrealized gain on the collars of $10.8 million. The Company estimates that approximately $7.2 million of pre-tax gains currently recorded in accumulated other comprehensive loss will be recognized in earnings over the next 12 months. The amounts included in accumulated other comprehensive loss will be reclassified to earnings should the hedge no longer be considered effective. No amount of ineffectiveness was included in net income for the fiscal year ended December 27, 2025. The Company will continue to assess the effectiveness of the hedge on an ongoing basis. The primary inputs into the valuation of the collars are interest yield curves, interest rate volatilities, foreign exchange rates, foreign exchange volatilities, credit risk, credit spreads and other market information. The collars are classified within Level 2 of the fair value hierarchy since all significant inputs are corroborated by market observable data.
Interest Rate Swap

On May 12, 2022, the Company entered into an interest rate swap agreement to manage interest rate risk exposure, effectively converting the interest rate on the Company's SOFR based floating-rate loans to a fixed-rate. The interest rate swap, with a notional value of $200 million, was designated as a cash flow hedge against the variability of cash flows associated with the Company's SOFR based loans scheduled to mature on June 30, 2027. The fair value of the interest rate swap was valued using an independent third-party valuation model. Pursuant to this model, changes in fair value of derivatives that are designated as cash flow hedges are deferred in accumulated other comprehensive loss until the underlying transactions are recognized in earnings. For the fiscal year ended December 27, 2025, the Company recorded a pre-tax unrealized loss on the interest rate swap of $4.7 million. The Company estimates that approximately $1.2 million of pre-tax gains currently recorded in accumulated other comprehensive loss will be recognized in earnings over the next 12 months. The primary inputs into the valuation of the interest rate swap are interest yield curves, interest rate volatility, credit risk, credit spreads and other market information. The interest rate swap is classified within Level 2 of the fair value hierarchy since all significant inputs are corroborated by observable market data.

The use of derivatives creates exposure to credit risk relating to potential losses that could be recognized in the event that the counterparties to these instruments fail to perform their obligations under the contracts. The Company seeks to minimize this risk by limiting our counterparties to major financial institutions with acceptable credit ratings and monitoring the total value of positions with individual counterparties. In the event of a default by one of our counterparties, the Company may not receive payments provided for under the terms of our derivatives.

Derivatives Not Designated as Hedging Instruments

On July 14, 2022, the Company entered into a foreign currency exchange forward contract to mitigate the currency fluctuation risk between the Euro and U.S. dollar on its Euro denominated Senior Notes, Series A due 2023. The notional value of the forward contract at July 14, 2022 was €117 million and expired on December 7, 2023 with the final settlement value of $6.3 million which the Company used to convert USD to Euro to pay down the €117 million of Euro Senior Notes, Series A due 2023. The foreign currency contract was not designated as a hedge instrument and was marked to market on a monthly basis. As a result, changes in fair value during 2023 were reported in Foreign exchange (loss) gain in the Consolidated Statements of Net (Loss) Income. The fair value of the foreign currency forward contract was valued by a third party using market exchange rates and classified as a Level 2 input under the fair value hierarchy.

As of December 27, 2025 and December 28, 2024, the fair values of our derivative financial instrument and their classifications on the Consolidated Balance Sheets were as follows:

Fiscal Year Ended

(in thousands)		Consolidated Balance Sheets ClassificationDecember 27, 2025December 28, 2024
Derivatives designated as hedging instruments
Interest rate swap agreement:
Designated as cash flow hedgePrepaid expenses and other current assets$1,162 $2,482 
Other long-term assets382 3,716 
Zero cost collar agreement
Designated as cash flow hedgePrepaid expenses and other current assets$6,816 $22 
Accrued liabilities— 4,067 
Other long-term assets3 2 
The pre-tax (gains) losses recognized on derivative financial instruments in the Consolidated Statements of Net (Loss) Income for the fiscal year ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:
Fiscal Year Ended
(in thousands)Classification of (Gains) Losses Recognized in the Consolidated Statements of Net (Loss) IncomeDecember 27, 2025December 28, 2024December 30, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreementInterest expense, net$(2,987)$(4,826)$(4,551)
Zero cost collar agreementCost of sales(2,791)1,766 — 
Zero cost collar agreementSelling, general, and administrative expenses(219)97 — 
Derivatives not designated as hedging instruments
Foreign exchange forward contractForeign exchange gain$— $— $(52)

The pre-tax losses (gains) recognized on derivative financial instruments in the Consolidated Statements of Comprehensive Income for the fiscal year ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreement$4,654 $(346)$2,827 
Zero cost collar agreement(10,787)3,534 — 

Mutual Funds
 
The Company has a non-qualified Supplemental Retirement and Savings Plan that provides additional retirement benefits for certain management employees and named executive officers by allowing participants to defer a portion of their annual compensation. The Company maintains investment accounts for participants through which participants make investment elections. The marketable securities are classified as Level 1 under the fair value hierarchy as they are maintained in mutual funds with readily determinable fair value and recorded in Other long-term assets on the Consolidated Balance sheets.
 
There were no changes during the fiscal year ended December 27, 2025 to the Company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of December 27, 2025 and December 28, 2024, the Company did not hold any non-financial assets or liabilities that are required to be measured at fair value on a recurring basis.

Defined Benefit Plan Assets / Non-qualified Supplemental Retirement and Savings Plan Investments
 
See Note 11, Benefit Plans, for a description of valuation methodologies and investment balances for defined benefit plan assets and investments related to the Company’s Non-Qualified Supplemental Retirement and Savings Plan.
 
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 27, 2025:
 Fair Value Measurements Using
(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs
(Level 3)		Total
Cash equivalents$465,915 $— $— $465,915 
Investments in equity securities7,676 — — 7,676 
Mutual funds25,730 — — 25,730 
Total$499,321 $— $— $499,321 
 
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 28, 2024:
 Fair Value Measurements Using
(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs
(Level 3)		Total
Cash equivalents$658,491 $— $— $658,491 
Investments in equity securities10,182 — — 10,182 
Mutual funds23,268 — — 23,268 
Total:$691,941 $— $— $691,941 
 
In addition to the methods and assumptions used for the financial instruments recorded at fair value as discussed above, the following methods and assumptions are used to estimate the fair value of other financial instruments that are not marked to market on a recurring basis. The Company’s other financial instruments include cash and cash equivalents, short-term investments, trade receivables and its long-term debt. Due to their short-term maturity, the carrying amounts of cash and cash equivalents, short-term investments and trade receivables approximate their fair values. The Company’s revolving and term loan debt facilities’ fair values approximate book value at December 27, 2025 and December 28, 2024, as the rates on these borrowings are variable in nature.
 
The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series B and USD Senior Notes, Series A and Series B, as of December 27, 2025 and December 28, 2024 were as follows:
 
 December 27, 2025December 28, 2024
(in thousands)
Carrying
Value		Estimated
Fair Value		Carrying
Value		Estimated
Fair Value
Euro Senior Notes, Series B due 2028$111,977 $106,908 $98,928 $91,741 
USD Senior Notes, Series A due 2025— — 50,000 49,919 
USD Senior Notes, Series B due 2027100,000 99,152 100,000 96,623 
USD Senior Notes, Series B due 2030125,000 120,076 125,000 114,786 
USD Senior Notes, due 2032100,000 95,587 100,000 91,175 

Impairments

The results of the annual goodwill impairment test as of September 28, 2025 indicated that the estimated fair value for Electronics-Semiconductor reporting unit were below its respective carrying value. Accordingly, the Company recorded a non-cash impairment charge of $301.2 million to reflect the impairment of goodwill for the Electronics-Semiconductor reporting unit within the Electronics segment. See Note 5, Goodwill and Other Intangible Assets, for further discussion. In addition, the Company recorded $0.5 million and $0.4 million of impairment charges related to certain machinery and equipment in the commercial vehicle business within the Transportation segment and the electronics products business within the Electronics segment, respectively.

2025 goodwill impairment charges were the result of measuring a reporting unit at fair value on a nonrecurring basis as shown below:

(in thousands)For Fiscal Year Ended December 27, 2025December 27, 2025
Impairment
Charge		Estimated Fair Value Measurement (Level 3)Net Carrying Value
Electronics-Semiconductor reporting unit
Goodwill$301,185 $238,057 $238,486 

During the fourth quarter of 2024 the Company recorded non-cash charges of $36.1 million and $8.6 million, respectively, to reflect the impairment of goodwill for the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive Sensors reporting unit within the Transportation segment. Additionally, during the fourth quarter of 2024, the
Company recorded non-cash impairment charges of $47.8 million for the impairment of intangible assets primarily related to the impairment of certain acquired customer relationships, developed technology, and tradename intangible assets in the Industrial Controls and Sensors reporting unit within the Industrial segment. See Note 5, Goodwill and Other Intangible Assets, for further discussion. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment related to certain machinery and equipment in the commercial vehicle business within the Transportation segment.

2024 goodwill and intangible assets impairment charges were the result of measuring a reporting unit at fair value on a nonrecurring basis as shown below:
(in thousands)For Fiscal Year Ended December 28, 2024December 28, 2024
Impairment
Charge		Estimated Fair Value Measurement (Level 3)Net Carrying Value
Industrial Controls and Sensors reporting unit
Customer relationships, trademarks, and tradenames$40,641 $6,620 $7,142 
Patents, licenses and software6,938 950 1,065 
Intangible assets, net of amortization$47,579 $7,570 $8,207 
Goodwill$36,147 $119,361 $115,159 
Automotive Sensors reporting unit
Goodwill$8,616 $— $— 
During the fiscal year 2023, the Company recognized a $3.9 million impairment charge related to the land and building of a property in the commercial vehicle business within the Transportation segment that the Company made the decision to donate, a $0.9 million impairment charge substantially related to certain patents in a business within the Industrial segment, and a $0.1 million impairment related to certain machinery and equipment in the semiconductor business within the Electronics segment. See Note 8, Restructuring, Impairment, and Other Charges, for further discussion.
v3.25.4
Benefit Plans
 12 Months Ended
Dec. 27, 2025
Retirement Benefits [Abstract]  
Benefit Plans Benefit Plans
 
The Company has Company-sponsored and mandatory defined benefit pension plans covering employees in the United Kingdom ("U.K."), Germany, the Philippines, China, Japan, Mexico, Italy, and France. The amount of the retirement benefits provided under the plans is generally based on years of service and final average pay.

On October 4, 2024, the Company entered into a definitive agreement to purchase a group annuity contract, under which an insurance company will be required to pay pension payments to the Company’s United Kingdom pension plan to match required pension payments until a later buyout, at which point the insurance company will directly pay and administer the benefits to the plan's participants, or to their designated beneficiaries. The purchase of this group annuity contract will reduce the Company’s outstanding pension benefit obligation by approximately $25 million, representing approximately 31% of the total obligations of the Company’s qualified pension plans, and will be funded with pension plan assets and additional cash on hand. In connection with this transaction, the Company currently expects to record a one-time non-cash settlement charge in the second half of 2026 estimated between $6 million and $8 million, reflecting the accelerated recognition of a portion of unamortized actuarial losses in the plan. The actual settlement charge could differ from this estimate due to final data and plan wind-up expenses.
Benefit plan related information is as follows for the years 2025 and 2024:
 
(in thousands)
20252024
Change in benefit obligation:  
Benefit obligation at beginning of year$70,682 $73,521 
Service cost3,020 3,060 
Interest cost4,013 3,873 
Net actuarial loss1,471 501 
Benefits paid from the plan assets(1,984)(2,037)
Benefits paid directly by the Company(2,349)(2,042)
Settlements(868)(1,248)
Acquisitions1,725 — 
Effect of exchange rate movements6,075 (4,946)
Benefit obligation at end of year$81,785 $70,682 
Change in plan assets at fair value:
Fair value of plan assets at beginning of year$39,338 $37,696 
Actual gain (loss) on plan assets983 (529)
Employer contributions1,415 5,376 
Benefits paid from the plan assets(1,984)(2,037)
Settlements(509)— 
Effect of exchange rate movements2,370 (1,168)
Fair value of plan assets at end of year41,613 39,338 
Net amount unfunded status$(40,172)$(31,344)
 
Amounts recognized in the Consolidated Balance Sheets as of December 27, 2025 and December 28, 2024 consisted of the following:
 
(in thousands)
20252024
Amounts recognized in the Consolidated Balance Sheets consist of:  
Non-current assets$241 $6 
Current benefit liability(1,680)(1,514)
Non-current benefit liability(38,733)(29,836)
Net liability recognized$(40,172)$(31,344)

The amounts included in accumulated other comprehensive loss in the Consolidated Balance Sheets, excluding tax effects that have not yet been recognized as components of net periodic benefit costs as of December 27, 2025 and December 28, 2024 were as follows:

(in thousands)
20252024
Net actuarial loss$9,328 $6,679 
Prior service cost1,249 1,304 
Total$10,577 $7,983 
 
The pre-tax amounts recognized in other comprehensive (loss) income in 2025 and 2024 were as follows:
 20252024
(in thousands)
Amortization of: 
Prior service cost$93 $93 
Net actuarial loss309 81 
Amount arising during the period:
Net actuarial loss(2,028)(3,099)
Net curtailment and settlement loss12 299 
Foreign currency adjustments(980)265 
Total$(2,594)$(2,361)

Due to the signing of the group annuity contract for the U.K. pension plan, the liabilities of the plan were remeasured as of October 4, 2024 resulting in an increase of $3.8 million to unamortized actuarial loss within other comprehensive (loss) income. In addition, the net actuarial loss during 2025 as compared to 2024 were impacted by higher discount rates in 2025 as compared to 2024.

The components of net periodic benefit costs for the fiscal years 2025, 2024, and 2023 were as follows: 
   
(in thousands)
202520242023
Components of net periodic benefit cost:   
Service cost$3,020 $3,060 $2,774 
Interest cost4,013 3,873 3,795 
Expected return on plan assets(1,899)(2,069)(1,879)
Amortization of prior service and net actuarial loss402 174 45 
Net periodic benefit cost5,536 5,038 4,735 
Net settlement loss (gain)12 299 (266)
Total expense for the year$5,548 $5,337 $4,469 


Weighted average assumptions used to determine net periodic benefit cost for the fiscal years 2025, 2024, and 2023 were as follows:
 202520242023
Discount rate5.6 %5.6 %5.8 %
Expected return on plan assets4.7 %5.5 %5.2 %
Compensation increase rate4.8 %4.8 %4.7 %
 
The accumulated benefit obligation for the plans was $65.2 million and $58.7 million as of December 27, 2025 and December 28, 2024, respectively.
 
The following table provides a summary of under-funded or unfunded pension benefit plans with projected benefit obligations in excess of plan assets as of December 27, 2025 and December 28, 2024:
 
(in thousands)
20252024
Projected benefit obligation$52,927 $47,016 
Fair value of plan assets12,491 15,666 
 
The following table provides a summary of under-funded or unfunded pension benefit plans with accumulated benefit obligations in excess of plan assets as of December 27, 2025 and December 28, 2024:
 
(in thousands)
20252024
Accumulated benefit obligation$29,239 $28,028 
Fair value of plan assets2,440 5,419 
 
Weighted average assumptions used to determine benefit obligations as of December 27, 2025, December 28, 2024 and December 30, 2023 were as follows:
 
 202520242023
Discount rate6.1 %5.6 %5.6 %
Compensation increase rate4.6 %4.8 %4.8 %
 
Expected benefit payments to be paid to participants for the fiscal year ending are as follows:
(in thousands)Expected Benefit Payments
2026$4,626 
20274,283 
20285,035 
20295,562 
20306,729 
2031-2035 and thereafter43,340 
 
The Company expects to make approximately $1.5 million of contributions to the plans and pay $2.3 million of benefits directly in 2026.
 
The Company also sponsors certain post-employment plans in foreign countries and other statutory benefit plans. For the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, the Company recorded $3.5 million, $5.0 million and $1.5 million expense, respectively, in Cost of sales, Restructuring, impairment, and other charges, and Other income, net within the Consolidated Statements of Net (Loss) Income. As of December 27, 2025 and December 28, 2024, the Company reported benefit liabilities of $5.9 million and $4.4 million for these plans, of which $1.9 million and $1.5 million was recorded in Accrued liabilities and $4.0 million and $2.9 million was recorded in Other long-term liabilities on the Consolidated Balance Sheets, respectively. For the fiscal years ended December 27, 2025 and December 28, 2024, the pre-tax amounts recognized in other comprehensive (loss) income for these plans were $0.1 million and $(0.2) million, respectively. For the fiscal year ended December 27, 2025, the expense reclassified from accumulated other comprehensive loss to earnings as components of net periodic benefit costs was $1.9 million. For the fiscal year ended December 28, 2024, the expense reclassified from accumulated other comprehensive loss to earnings as components of net periodic benefit costs was $3.3 million.

Defined Benefit Plan Assets
 
Based upon analysis of the target asset allocation and historical returns by type of investment, the Company has assumed that the expected long-term rate of return will be 4.7% on plan assets. Assets are invested to maximize long-term return taking into consideration timing of settlement of the retirement liabilities and liquidity needs for benefits payments. Pension plan assets were invested as follows, and were not materially different from the target asset allocation:
 
 Asset Allocation
 20252024
Cash and cash equivalents, and other2 %1 %
Equity securities6 %7 %
Fixed income securities32 %32 %
Bulk annuity contract60 %60 %
 100 %100 %
The Company segregated its plan assets by the following major categories and level for determining their fair value as of December 27, 2025 and December 28, 2024. All plan assets that are valued using the net asset value per share (“NAV”) practical expedient have not been included within the fair value hierarchy, but are separately disclosed.

Cash and cash equivalents – Carrying value approximates fair value. As such, these assets were classified as Level 1. The Company also invests in certain short-term investments which are valued using the amortized cost method. Lastly, the Company has certain pooled pension funds that have short-term investments with third party mutual funds that are valued at unit value per share at measurement date. As such, these assets were classified as Level 2.

Equity – The values of individual equity securities were based on quoted prices in active markets. As such, these assets are classified as Level 1. The Company has certain pooled pension funds which have mutual funds with underlying investments in certain equity securities that are not quoted on active markets; therefore, they were classified as Level 2.

Fixed income – Fixed income securities are typically priced based on a last trade basis and are exchange-traded. Accordingly, the Company classified fixed income securities as Level 1. The Company has certain pooled pension funds which have mutual funds with underlying investments in fixed income securities and funds priced based on a valuation model rather than a last trade basis and are not exchange-traded. As such, they were classified as Level 2. The Company also invests in certain fixed income funds which are valued at the NAV.

Insurance contracts and other – This category includes pooled pension funds which have mutual funds with underlying investments in other assets and liabilities including alternatives priced based on a valuation model and are not exchange-traded. These were classified as Level 2. This category also includes insurance contracts that are valued by the re-insurer with the valuation inputs being not highly observable or traded on an open market. Accordingly, insurance contracts were categorized as Level 3. Lastly, this category includes other assets and liabilities including futures or swaps.

Bulk Annuity Contract – Bulk annuity contract includes a U.K insurance policy issued by an authorized U.K. life insurer. This bulk annuity contract is valued by the re-insurer with the valuation inputs being not highly observable or traded on an open market. Accordingly, this contract was categorized as Level 3.

For any Level 2 and Level 3 plan assets, management reviews significant investments on a periodic basis including investigation of unusual fluctuations in price or returns and obtaining an understanding of the pricing methodology to assess the reliability of third-party pricing estimates.

The valuation methodologies described above may generate a fair value calculation that may not be indicative of net realizable value or future fair values. While the Company believes the valuation methodologies used are appropriate, the use of different methodologies or assumptions in calculating fair value could result in different amounts. The Company invests in assets in which valuation is determined by the NAV. The Company believes that the NAV is representative of fair value at the reporting date, as there are no significant restrictions on redemption of these investments or other reasons to indicate that the investment would be redeemed at an amount different than the NAV.

The following table presents the Company’s pension plan assets measured at fair value by classification within the fair value hierarchy as of December 27, 2025:
 Fair Value Measurements Using
(in thousands)
Level 1Level 2Level 3NAVTotal
Insurance contracts and other$— $— $154 $— $154 
Cash and cash equivalents808 — — — 808 
Equities2,635 — — — 2,635 
Fixed income7,242 — — 5,787 13,029 
Bulk annuity contract— — 24,987 — 24,987 
Total pension plan assets$10,685 $— $25,141 $5,787 $41,613 
 
The following table presents the Company’s pension plan assets measured at fair value by classification within the fair value hierarchy as of December 28, 2024:
 
 Fair Value Measurements Using
(in thousands)
Level 1Level 2Level 3NAVTotal
Insurance contracts and other$— $— $131 $— $131 
Cash and cash equivalents422 — — — 422 
Equities2,921 — — — 2,921 
Fixed income7,224 — — 5,198 12,422 
Bulk annuity contract— — 23,442 — 23,442 
Total pension plan assets$10,567 $— $23,573 $5,198 $39,338 

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during 2025 and 2024 due to the following:
(in thousands)
Level 3
Balance at December 30, 2023$133 
Level 3 assets transferred in from Level 1 and 2 assets valued at NAV:
Bulk annuity contract added during the year23,442 
Employer contribution2 
Actual return on assets4 
Foreign currency adjustments(8)
Balance at December 28, 2024$23,573 
Level 3 assets transferred in from Level 1 and 2 assets valued at NAV:
Employer contribution125 
Actual return on assets1,059 
Benefits paid from the plan assets(1,392)
Foreign currency adjustments1,776 
Balance at December 27, 2025$25,141 

Defined Contribution Plan
 
The Company also maintains a 401(k) savings plan covering substantially all U.S. employees. The Company matches 100% of the employee’s annual contributions for the first 4% of the employee’s eligible compensation. The Company may provide an additional discretionary match to participants and made discretionary matches of 2% of the employee’s eligible compensation for each of the fiscal years ended December 27, 2025, December 28, 2024 and December 30, 2023. Employees are immediately vested in their contributions plus actual earnings thereon, as well as the Company contributions. Company matching contributions amounted to $6.6 million, $6.5 million, and $7.7 million in 2025, 2024, and 2023, respectively.
 
Non-qualified Supplemental Retirement and Savings Plan
 
The Company has a non-qualified Supplemental Retirement and Savings Plan which provides additional retirement benefits for certain management employees and named executive officers by allowing participants to defer a portion of their annual compensation. The Company maintains accounts for participants through which participants make investment elections. The investments are subject to the claims of the Company’s creditors and the Company is responsible for the payment of all benefits under the plan from its general assets. As of December 27, 2025, there was $25.7 million of marketable securities related to the plan included in Other long-term assets and $25.7 million of accrued compensation benefits included in Other long-term liabilities. The marketable securities are classified as Level 1 under the fair value hierarchy as they are maintained in mutual funds with readily determinable fair value. The Company made matching contributions to the plan of $0.3 million, $0.5 million, and $0.6 million in 2025, 2024, and 2023, respectively.
v3.25.4
Stock-Based Compensation
 12 Months Ended
Dec. 27, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Payment Arrangement Stock-Based Compensation
 
Equity Plans: The Company has equity-based compensation plans authorizing the granting of stock options, restricted shares, restricted share units, performance shares units, and other stock rights to employees and directors. As of December 27, 2025, there were 0.8 million shares available for issuance of future awards under the Company’s equity-based compensation plans.
 
Stock options generally vest over a three-year period and are exercisable over either a seven or ten-year period commencing from the date of the grant. Restricted shares and share units granted by the Company generally vest over three years. Performance share units have three-year performance periods with vesting at the end of the performance period and earned based on the Company’s relative Total Shareholder Return ("TSR") relative to a group of peer companies. Stock options, restricted share and performance share units may have accelerated vesting upon meeting certain qualified conditions.

The following table provides a reconciliation of outstanding stock options for the fiscal year ended December 27, 2025.
 Shares Under
Option		Weighted
Average
Price		Weighted
Average
Remaining
Contract Life
(Years)		Aggregate
Intrinsic
Value
(000’s)
Outstanding December 28, 2024629,812 $200.07 
Granted— N/A
Exercised(164,064)173.67 
Forfeited(7,712)236.20 
Outstanding December 27, 2025458,036 208.92 3.1$24,677 
Exercisable December 27, 2025416,903 206.38 2.923,550 
 
The following table provides a reconciliation of non-vested restricted share and share unit awards ("RSU") for the fiscal year ended December 27, 2025.
 SharesWeighted Average
Grant-Date Fair Value
Nonvested December 28, 2024186,013 $229.56 
Granted175,235 186.04 
Vested(98,705)229.94 
Forfeited(35,652)212.78 
Nonvested December 27, 2025226,891 198.43 
 
The following table provides a reconciliation of non-vested performance share unit awards ("PSU") for the fiscal year ended December 27, 2025.
 SharesWeighted Average
Grant-Date Fair Value
Nonvested December 28, 2024— N/A
Granted75,067 319.63 
Vested— N/A
Forfeited(2,400)252.93 
Nonvested December 27, 202572,667 321.83 

The total intrinsic value of options exercised during 2025, 2024, and 2023 was $13.0 million, $6.3 million, and $12.2 million, respectively. The total fair value of the vested RSU shares was $17.7 million, $16.2 million, and $19.8 million for 2025, 2024, and 2023, respectively. No PSU shares vested in 2025. The total amount of share-based liabilities paid was $1.2 million, $1.3 million, and $2.2 million for 2025, 2024, and 2023, respectively.
 
The Company recognizes compensation cost of all share-based awards as an expense on a straight-line basis over the vesting period of the awards. At December 27, 2025, the unrecognized compensation cost for options, restricted shares and performance shares was $43.6 million before tax, and will be recognized over a weighted average period of 2.0 years. Compensation cost included as a component of cost of sales, research and development and selling, general, and administrative expenses for all equity compensation plans discussed above was $28.6 million, $27.4 million, and $25.7 million for 2025, 2024,
and 2023, respectively. The total related income tax benefit recognized in the Consolidated Statements of Net (Loss) Income was $4.0 million, $4.0 million, and $3.8 million for 2025, 2024, and 2023, respectively.

The Company uses the Monte Carlo valuation model to determine the fair value of PSU shares granted. The weighted average fair value of and related assumptions for PSU shares granted are as follows:
 202520242023
Weighted average fair value of options granted$319.63N/AN/A
Assumptions:
Risk-free interest rate4.01%N/AN/A
Expected dividend yield—%N/AN/A
Expected stock price volatility33.16%N/AN/A
Expected correlation24.29%N/AN/A

Expected volatilities and correlation factors are based on the historical volatility of the Company’s and each peer company’s stock price. The risk-free rates are based on yields available at the time of grant on U.S. Treasury bonds with maturities consistent with the remaining performance period.

The fair value of RSU shares without rights to dividend equivalents is determined based on the Company's stock price on the grant date reduced by the present value of expected dividends through the vesting period. The fair value of RSU with rights to dividend equivalents is based on the Company’s stock price on the grant date.

The Company uses the Black-Scholes option valuation model to determine the fair value of stock option awards granted. The weighted average fair value of and related assumptions for options granted are as follows:
 202520242023
Weighted average fair value of options grantedN/A$75.25$77.40
Assumptions:
Risk-free interest rateN/A4.71%3.67%
Expected dividend yieldN/A1.13%1.00%
Expected stock price volatilityN/A34.9%36.0%
Expected life of options (years)N/A4.44.4

Preferred Stock: The Board of Directors may authorize the issuance of preferred stock from time to time in one or more series with such designations, preferences, qualifications, limitations, restrictions, and optional or other special rights as the Board may fix by resolution.
 
Share Repurchase Program

The Company's Board of Directors authorized the repurchase of up to $300 million in the aggregate of shares of the Company’s common stock for the period May 1, 2021 to April 30, 2024 ("2021 program"). On April 25, 2024, the Company's Board of Directors authorized a new three-year program to repurchase up to $300.0 million in the aggregate of shares of the Company's stock for the period May 1, 2024 to April 30, 2027 ("2024 program") to replace the expired 2021 program.
During the fiscal year of 2025, the Company repurchased 120,689 shares of its common stock totaling $27.4 million pursuant to the 2024 program. There are $270.6 million of an authorized amount not yet purchased under the 2024 program as of December 27, 2025. During the fiscal year of 2024, the Company repurchased 179,311 shares of its common stock totaling $40.9 million, of which, $38.9 million was pursuant to the 2021 program and $2.0 million was pursuant to the 2024 program. During the fiscal year of 2023, the Company did not repurchase any shares of its common stock.
v3.25.4
Other Comprehensive (Loss) Income
 12 Months Ended
Dec. 27, 2025
Equity [Abstract]  
Other Comprehensive (Loss) Income Other Comprehensive (Loss) Income
Changes in other comprehensive (loss) income by component for fiscal years 2025, 2024, and 2023 were as follows:
Fiscal Year Ended
December 27, 2025December 28, 2024December 30, 2023
(in thousands)Pre-taxTaxNet of taxPre-taxTaxNet of taxPre-taxTaxNet of tax
Defined benefit pension plan and other adjustments$(2,154)$(24)$(2,178)$(2,947)$51 $(2,896)$(5,911)$491 $(5,420)
Cash flow hedges6,134 697 6,831 (3,188)41 (3,147)(2,827)679 (2,148)
Foreign currency translation adjustments (1)139,430 (3,105)136,325 (86,273)1,772 (84,501)48,227 (712)47,515 
Total change in other comprehensive income (loss)$143,410 $(2,432)$140,978 $(92,408)$1,864 $(90,544)$39,489 $458 $39,947 

(1) The tax shown above within the foreign currency translation adjustments is the U.S. tax associated with the foreign currency translation adjustments of earnings of non-U.S. subsidiaries which have been previously taxed in the U.S. and are not permanently reinvested.

Accumulated Other Comprehensive Loss (“AOCI”): The following table sets forth the changes in the components of AOCI by component for fiscal years 2025, 2024, and 2023:
(in thousands)
Pension and postretirement liability and reclassification adjustments Cash flow hedgesForeign currency translation adjustmentsAccumulated other comprehensive (loss) income
Balance at December 31, 2022$(2,193)$6,596 $(100,167)$(95,764)
2023 activity(5,420)(2,148)47,515 39,947 
Balance at December 30, 2023$(7,613)$4,448 $(52,652)$(55,817)
2024 activity(2,896)(3,147)(84,501)(90,544)
Balance at December 28, 2024$(10,509)$1,301 $(137,153)$(146,361)
 2025 activity(2,178)6,831 136,325 140,978 
Balance at December 27, 2025$(12,687)$8,132 $(828)$(5,383)

On October 4, 2024, the Company entered into a definitive agreement to purchase a group annuity contract, under which an insurance company will be required to pay pension payments to the Company’s United Kingdom pension plan to match required pension payments until a later buyout, at which point the insurance company will directly pay and administer the benefits to the plan's participants, or to their designated beneficiaries. The purchase of this group annuity contract will reduce the Company’s outstanding pension benefit obligation by approximately $25 million, representing approximately 31% of the total obligations of the Company’s qualified pension plans, and will be funded with pension plan assets and additional cash on hand. In connection with this transaction, the Company currently expects to record a one-time non-cash settlement charge in 2026 estimated between $6 million and $8 million, reflecting the accelerated recognition of a portion of unamortized actuarial losses in the plan. The actual settlement charge could differ from this estimate due to final data and plan wind-up expenses.

Due to the signing of the group annuity contract for the U.K. pension plan, the liabilities of the plan were remeasured as of October 4, 2024 resulting in an increase of $3.8 million to unamortized actuarial loss within other comprehensive (loss) income. See Note 11, Benefits Plans for further discussion.
Amounts reclassified from accumulated other comprehensive loss to earnings for fiscal years 2025, 2024, and 2023 were as follows:
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Pension and postemployment and other plans:
Amortization of prior service, net actuarial loss (gain), and other$1,941 $3,441 $(43)
Net settlement loss and accelerated prior service costs365 299 247 
Total$2,306 $3,740 $204 

The Company recognizes the amortization of prior service costs and net settlement loss in Other income, net, and Restructuring, impairment, and other charges within the Consolidated Statements of Net (Loss) Income.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 27, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
 
During the fiscal year ended December 27, 2025, the Company elected to prospectively adopt the guidance in ASU 2023-09. The footnote below reflects this adopted guidance for the fiscal year ended December 27, 2025. For the fiscal years ended December 28, 2024, and December 30, 2023, the footnote reflects the guidance in effect prior to the adoption of ASU 2023-09.

The 2017 Tax Cuts and Jobs Act (the "Tax Act"), among other things, imposed a one-time tax (the “Toll Charge”) on accumulated earnings of certain non-U.S. subsidiaries and included base broadening provisions commonly referred to as the global intangible low-taxed income provisions ("GILTI").

The Company elected to pay its 2017 Toll Charge over the eight-year period prescribed by the Tax Act. The eighth and final installment of the Toll Charge of $8.2 million was paid in 2025, and accordingly, there was no remaining liability on the Consolidated Balance Sheet as of December 27, 2025.

In accordance with guidance issued by the FASB staff, the Company has adopted an accounting policy to treat any GILTI inclusions as a period cost if and when incurred. Thus, for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, deferred taxes were computed without consideration of the possible future impact of the GILTI provisions, and any current year impact was recorded as a part of the current portion of income tax expense.

On July 4, 2025, the United States enacted into law the legislation formally titled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” and commonly referred to as the One Big Beautiful Bill Act (“OBBB”). The OBBB contains multiple business tax provisions, including the permanent extension of several expiring provisions of the Tax Act and multiple modifications to the international tax framework. The legislation has multiple effective dates with certain provisions effective in 2025 and others to be implemented in future years, and the Company determined the impact for the year ended December 27, 2025 is not significant. The Company will continue to monitor future administrative guidance and regulations that clarify the legislative text of the OBBB and the bill’s potential effect on the Company’s income taxes.
 
Domestic and foreign income (loss) before income taxes is as follows:
(in thousands)
202520242023
Domestic$(94,209)$3,151 $40,571 
Foreign97,816 148,712 288,027 
Income before income taxes$3,607 $151,863 $328,598 
Federal, state, and foreign income tax expense (benefit) consists of the following:
 
(in thousands)
202520242023
Current:   
Federal$3,875 $(5,881)$8,188 
State3,449 1,826 2,880 
Foreign64,644 58,551 57,999 
Subtotal$71,968 $54,496 $69,067 
Deferred:
Federal (including State for 2024 and 2023)$1,304 $4,091 $1,751 
State$(2,070)$— $— 
Foreign4,105 (6,914)(1,705)
Subtotal$3,339 $(2,823)$46 
Provision for income taxes$75,307 $51,673 $69,113 
As described above, the Company elected to prospectively adopt the guidance in ASU 2023-09. In accordance with the guidance in ASU 2023-09, for the ear ended December 27, 2025, a reconciliation between income taxes computed on income before income taxes at the federal statutory rate and the provision for income taxes is provided below:
(in thousands)

2025ETR%
Tax expense at statutory rate of 21%$757 21.0 %
Effect of Cross-Border Tax Laws:US Tax on Non-US income (GILTI)4,738 131.4 %
US Tax on Non-US income (Subpart F)6,760 187.4 %
Other(2,503)(69.4)%
Tax Credits:Foreign Tax Credits(4,301)(119.2)%
Other(1,106)(30.7)%
Nontaxable or Non-deductible items:Non-deductible goodwill impairment 23,028 638.4 %
Non-deductible expenses3,378 93.7 %
Other397 11.0 %
Valuation Allowance409 11.3 %
Other138 3.8 %
State Taxes, Net of Federal Tax Effect (a)1,089 30.2 %
Foreign Tax Effects:
ChinaWithholding Taxes6,129 169.9 %
Other(2,895)(80.2)%
GermanyNon-U.S. income tax rate differential10,079 279.4 %
Non-deductible goodwill impairment 17,031 472.2 %
Valuation allowance26,839 744.1 %
German Trade Tax(13,740)(380.9)%
Other(674)(18.7)%
KoreaWithholding Taxes4,752 131.7 %
Other611 17.0 %
MexicoNon-U.S. income tax rate differential (b)(4,604)(127.6)%
NetherlandsValuation allowance6,990 193.8 %
Other(462)(12.8)%
PhilippinesNon-U.S. income tax rate differential (c)(4,659)(129.2)%
Withholding Taxes4,712 130.6 %
Other288 8.1 %
SingaporeNon-U.S. income tax rate differential(3,906)(108.3)%
Nontaxable Income(5,100)(141.4)%
Other(346)(9.6)%
United KingdomNon-deductible goodwill impairment 7,018 194.6 %
Other57 1.5 %
Other Foreign Jurisdictions230 6.2 %
Worldwide Changes in Unrecognized Tax Benefits(5,827)(161.5)%
Provision for income taxes75,307 2,087.8 %

(a) In 2025, state and local income taxes in Illinois and Minnesota comprise the majority of the state and local income taxes, net of federal effect category.
(b) The Company operates certain manufacturing activities in Mexico under a Maquiladora structure. The non-U.S. income tax rate differential represents the tax benefits associated with the Maquiladora safe harbor as defined under Mexican tax law.
(c) The Company conducts certain operations in the Philippines under the Philippine Economic Zone Authority ("PEZA") regime. The non-U.S. income tax rate differential represents the preferential tax rate benefits associated with the PEZA regime as defined under Philippines tax law.
For the years 2024 and 2023, in accordance with the guidance in effect prior to ASU 2023-09, a reconciliation between income taxes computed on income before income taxes at the federal statutory rate and the provision for income taxes is provided below:
(in thousands)
20242023
Tax expense at statutory rate of 21%$31,891 $69,006 
Non-U.S. income tax rate differential(1,130)(25,623)
Non-U.S. losses and expenses with no tax benefit9,401 11,261 
Tax on unremitted earnings6,616 6,394 
Non-deductible goodwill impairment5,810 — 
Net impact associated with U.S. tax on non-U.S. income, including GILTI5,809 4,739 
State and local taxes, net of federal tax benefit2,533 1,503 
Certain changes in unrecognized tax benefits and related accrued interest(8,692)(172)
Other, net(565)2,005 
Provision for income taxes$51,673 $69,113 

Deferred income taxes are provided for the tax effects of temporary differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities. Significant components of the Company’s deferred tax assets and liabilities at December 27, 2025 and December 28, 2024, were as follows:
 
(in thousands)20252024
Deferred tax assets:  
Net operating loss carryforwards$66,851 $46,263 
Interest expense carryforwards47,581 34,800 
Accrued expenses and reserves42,154 32,336 
Lease liabilities16,559 13,016 
Excess of tax basis over the book basis for intangible assets and goodwill16,016 — 
Capitalized expenses11,032 18,939 
U.S. foreign tax credit carryforwards3,772 3,490 
U.S. research and other general business tax credit carryforwards1,222 1,252 
Other— 196 
Deferred tax assets205,187 150,292 
Less: Valuation allowance(97,557)(55,468)
Total deferred tax assets107,630 94,824 
Deferred tax liabilities:
Excess of book basis over the tax basis for intangible assets and goodwill134,666 133,701 
Excess of book basis over the tax basis for property, plant, and equipment34,448 24,238 
Right of use lease assets17,289 12,906 
Tax on unremitted earnings16,311 14,612 
Other1,996 — 
Total deferred tax liabilities204,710 185,457 
Net deferred tax liabilities$97,080 $90,633 
The deferred tax asset valuation allowance is mainly related to certain U.S. and non-U.S. net operating loss, non-U.S. interest expense carryforwards, and U.S. foreign tax credit carryforwards which are not more likely that not to be realized. The remaining U.S. and non-U.S. net operating loss, interest expense, and foreign tax credit carryforwards either have no expiration date or are expected to be utilized prior to expiration (which begin expiring in 2028). No deferred tax asset nor valuation allowance has been recorded for certain U.S. and non-U.S. net operating loss carryforwards for which the possibility of usage has been determined to be remote.
 
As described above, the Company has elected to prospectively adopt the guidance in ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, or ASU 2023-09. In accordance with the guidance in ASU 2023-09, for the year ended December 27, 2025, a summary of income taxes paid net of refunds by jurisdiction is provided below:
Jurisdiction2025
Federal$10,154 
State1,792 
Foreign
China25,016 
Singapore12,581 
Philippines8,141 
Mexico5,961 
Korea5,853 
Other$12,103 
Total income taxes paid net of refunds received$81,601 

State income taxes paid in Texas and Minnesota make up the majority (greater than 50%) of the total 2025 state income taxes paid. The Company paid income taxes of $88.1 million, and $81.1 million in 2024, and 2023, respectively, and received income tax refunds of $4.3 million, and $7.2 million in 2024, and 2023, respectively.
 
Deferred income taxes are not provided on the excess of the investment value for financial reporting over the tax basis of investments in those subsidiaries for which such excess is considered to be permanently reinvested in those operations. The Company recognized deferred tax liabilities of $16.3 million as of December 27, 2025 and $14.6 million as of December 28, 2024, related to taxes on certain non-U.S. earnings which are not considered to be permanently reinvested.
 
The Company has two subsidiaries in China which benefit from lower tax rates due to “tax holidays” which apply for three-year periods. The tax holiday for one of the subsidiaries expired at the end of 2023, but was later extended for an additional three years, retroactive to include all of 2024, as well as 2025 and 2026, and for the other subsidiary the tax holiday expired at the end of 2025. The Company intends to seek an extension for the expired tax holiday. Together, the tax holidays contributed $6.6 million in current tax benefits, or $0.27 per diluted share, during 2025. Future year tax benefits will depend upon the Company’s ability to obtain extensions, after the three-year periods expire. There can be no assurance that future extensions will be granted.

A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 27, 2025, December 28, 2024, and December 30, 2023 is as follows:
 
(in thousands)
Unrecognized Tax Benefits
Balance at December 30, 2023$31,449 
Additions for tax positions taken in the current year1,251 
Additions for tax positions taken in the prior year375 
Decreases for lapses in statute of limitations(7,650)
Other574 
Balance at December 28, 2024$25,999 
Additions for tax positions taken in the current year1,695 
Additions for tax positions taken in the prior year170 
Decreases for lapses in statute of limitations(5,850)
Decreases for settlements(563)
Other4,356 
Balance at December 27, 2025$25,807 
As of December 27, 2025, the net amount of tax benefits that, if recognized, would favorably affect the effective tax rate in future periods is approximately $23.2 million. None of the positions included in unrecognized tax benefits are related to tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility.

The Company recognizes accrued interest and penalties associated with uncertain tax positions as part of income tax expense. The Company recognized such interest benefit of $2.3 million (including a $3.5 million decrease due to a lapse in the statute of limitations), $2.7 million expense (net of a $4.1 million decrease due to a lapse in the statute of limitations) and $0.5 million expense (net of a $1.7 million decrease due to a lapse in the statute of limitations) in 2025, 2024, and 2023, respectively. Accrued interest for such matters included in Other long-term liabilities within the Consolidated Balance Sheets was $8.7 million and $11.1 million as of December 27, 2025 and December 28, 2024, respectively.
 
The U.S. federal statute of limitations remains open for the Company for the 2022 tax year and later years. Non-U.S. and U.S. state statutes of limitations generally range from three to seven years, although certain jurisdictions do not have a statute expiration. Tax examinations occur from time to time, including examinations currently in process in China, Germany, the Netherlands, Singapore, other non-U.S. jurisdictions and certain U.S. states. The Company does not expect to recognize a significant amount of additional tax expense as a result of concluding these examinations.
v3.25.4
(Loss) Earnings Per Share
 12 Months Ended
Dec. 27, 2025
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share (Loss) Earnings Per Share
 
The following table sets forth the computation of basic and diluted (loss) earnings per share:
 
(in thousands, except per share amounts)
202520242023
Numerator:   
Net (loss) income as reported$(71,700)$100,190 $259,485 
Denominator:
Weighted average shares outstanding
Basic24,817 24,821 24,854 
Effect of dilutive securities— 218 248 
Diluted24,817 25,039 25,102 
(Loss) Earnings Per Share:
Basic (loss) earnings per share$(2.89)$4.04 $10.44 
Diluted (loss) earnings per share$(2.89)$4.00 $10.34 
 
Potential shares of common stock attributable to stock options and restricted shares excluded from the earnings per share calculation because their effect would be anti-dilutive based on their strike price or the vesting condition was not met, were 204,189, 139,839, and 110,002 shares in 2025, 2024, and 2023, respectively.

In addition, potential common shares of 205,571 for fiscal year 2025 were excluded from the computation of diluted loss per share, because the effect would have been antidilutive as a result of the Company incurring a net loss in 2025.
During the fiscal year of 2025, the Company repurchased 120,689 shares of its common stock totaling $27.4 million pursuant to the 2024 program. There are $270.6 million of an authorized amount not yet purchased under the 2024 program as of December 27, 2025. During the fiscal year of 2024, the Company repurchased 179,311 shares of its common stock totaling $40.9 million, of which, $38.9 million was pursuant to the 2021 program and $2.0 million was pursuant to the 2024 program. During the fiscal year of 2023, the Company did not repurchase any shares of its common stock.
v3.25.4
Segment Information
 12 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
 
The Company and its subsidiaries design, manufacture and sell component, modules and subassemblies to empower the long-term structural themes of sustainability, connectivity and safety. The Company aggregated its operating segments into the reportable segments: Electronics, Transportation, and Industrial. An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. The CODM is the Company’s President and Chief Executive Officer (“CEO”). The CODM allocates resources to and assesses the performance of each operating segment using information about its revenue and operating income (loss) before interest and taxes, but does not evaluate the operating segments using discrete balance sheet information and as such, segment asset information is not disclosed. The CODM’s key decisions involve the allocation of resources, such as acquisitions, divestitures, investments, capital expenditures, significant customer contracts, and other key management resources, and assessment of performance, such as executive officer hiring, promotion, and compensation. The CODM uses operating income as the key metric when establishing targets in the annual budget and in evaluating the allocation of resources to each segment. The CODM regularly reviews each segment's operating income against the forecast, budget and previous quarterly results to assess performance and make decisions about the allocation of operating and capital resources to each segment.
 
Sales, marketing, and research and development expenses are charged directly into each operating segment. Finance, information technology, and human resources are shared functions that are allocated back to the operating segments. The Company does not report inter-segment revenue because the operating segments do not record it. Certain expenses, determined by the CODM to be strategic in nature and not directly related to segments current results, are not allocated but identified as “Other.” Additionally, the Company does not allocate interest and other income, interest expense, or taxes to operating segments. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Except as discussed above, the accounting policies for segment reporting are the same as for the Company as a whole.
•Electronics Segment: Consists of one of the broadest product offerings in the industry, including fuses and fuse accessories, positive temperature coefficient (“PTC”) resettable fuses, electromechanical switches and interconnect solutions, polymer electrostatic discharge (“ESD”) suppressors, varistors, reed switch based magnetic sensing, gas discharge tubes; semiconductor products such as discrete transient voltage suppressor (“TVS”) diodes, TVS diode arrays, protection and switching thyristors, silicon and silicon carbide metal-oxide-semiconductor field effect transistors (“MOSFETs”) and diodes, and insulated gate bipolar transistors (“IGBT”) technologies. The segment covers a broad range of end markets, including data center – computing and communication, data center and communications infrastructure, industrial controls, building controls, aerospace and defense, appliances, consumer electronics solutions, healthcare solutions, industrial equipment, energy storage, diversified industrials, grid and utility infrastructure, renewable energy, passenger vehicles, and commercial vehicles.

•Transportation Segment: Consists of a wide range of circuit protection, power control and sensing technologies for global original equipment manufacturers (“OEMs”), Tier-one suppliers and parts and aftermarket distributors in passenger vehicles, heavy-duty truck and bus, off-road and recreational vehicles, material handling, agricultural equipment, construction equipment and other commercial vehicle end markets. Passenger vehicle products are used in internal combustion engines, hybrid and electric vehicles including blade fuses, battery cable protectors, resettable fuses, high-current fuses, high-voltage fuses, and sensor products designed to monitor the occupant’s safety and environment as well as the vehicle’s powertrain. Commercial vehicle products include fuses, switches, circuit breakers, relays, and power distribution modules and units used in applications serving a number of end markets, including heavy-duty truck and bus, off-road and recreational vehicles, material handling, agriculture equipment, construction equipment, and ship, marine and train.

•Industrial Segment: Consists of industrial circuit protection (industrial fuses), protective and monitoring relays (protection relays, residual current devices and monitors, ground fault circuit interrupters, solid state switches, and arc fault detection devices), and industrial controls and sensors (contactors, transformers, and temperature sensors) for use in various applications such as data center – computing and communication, data center and communications infrastructure, industrial controls, building controls, grid and utility infrastructure, construction, renewable energy, HVAC, processing and extracting, and energy storage.
The Company has provided this segment information for all comparable prior periods. Segment information is summarized as follows:
 
(in thousands)
202520242023
Net sales   
Electronics$1,345,522 $1,186,773 $1,350,426 
Transportation676,377 672,434 678,278 
Industrial364,395 331,561 333,953 
Total net sales$2,386,294 $2,190,768 $2,362,657 
Other segment expenses
Electronics$1,125,456 $1,016,880 $1,049,845 
Transportation591,597 613,856 644,644 
Industrial305,372 289,230 279,153 
Total other segment expenses$2,022,425 $1,919,966 $1,973,642 
Segment operating income
Electronics$220,066 $169,893 $300,581 
Transportation84,780 58,578 33,634 
Industrial59,023 42,331 54,800 
Total segment operating income363,869 270,802 389,015 
Other(a)
(326,341)(112,022)(28,153)
Total operating income37,528 158,780 360,862 
Interest expense34,303 38,717 39,866 
Foreign exchange loss (gain)16,612 (9,230)12,299 
Other income, net(16,994)(22,570)(19,901)
Income before income taxes$3,607 $151,863 $328,598 

(a) Included in “Other” Operating income for 2025 was $302.1 million of non-cash impairment charges, which included a $301.2 million non-cash goodwill impairment charge associated with the Electronics-Semiconductor reporting unit within the Electronics segment. In addition, the Company recognized impairment charges of $0.5 million and $0.4 million related to certain machinery and equipment in the commercial vehicle business within the Transportation segment and the electronics products business within the Electronics segment, respectively. The Company also recognized total restructuring charges of $18.0 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions in the power semiconductor business within the Electronics segment and the reorganization of certain manufacturing, selling and administrative functions in the commercial vehicle business and automotive sensors business within the Transportation segment. See Note 8, Restructuring, Impairment and Other Charges, for further discussion. Also included in "Other" Operating income was $5.4 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, $0.6 million of purchase accounting inventory adjustments related to the Basler and Dortmund Fab acquisitions, and a $0.3 million loss related to the sale of the Marine business within the Transportation segment.

Included in “Other” Operating income for 2024 was $93.5 million of non-cash impairment charges, which included $47.8 million for the impairment of intangible assets primarily related to certain acquired customer relationships, developed technology, and tradename in the Industrial Controls and Sensors reporting unit within the Industrial segment, and $36.1 million and $8.6 million of non-cash goodwill impairment charges associated with the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive Sensors reporting unit within the Transportation segment, respectively. The remaining impairment charges included $0.2 million for patents and customer relationships related to the exit of a small business in China within the Industrial segment. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment charge related to certain machinery and equipment in the commercial vehicle business within the Transportation segment. The Company also recognized total restructuring charges of $14.9 million, primarily for employee termination costs related to the reorganization of certain manufacturing, selling and administrative functions in the semiconductor business within the Electronics segment and the reorganization of certain selling and administrative functions in the commercial vehicle business within the Transportation segment. See Note 8, Restructuring, Impairment and Other Charges,
for further discussion. Also included in "Other" Operating income was $5.1 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, a gain of $1.0 million for the sale of two buildings within the Transportation segment, and a gain of $0.5 million recorded for the sale of a land use right within the Electronics segment.

Included in “Other” Operating income for 2023 was $11.7 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions and $11.6 million of restructuring, impairment and other charges, primarily related to employee termination costs. During 2023, the Company recorded a $3.9 million impairment charge related to the land and building in the commercial vehicle business within the Transportation segment, $0.9 million impairment charge substantially related to certain patents in a business within the Industrial segment, and a $0.1 million impairment related to certain machinery and equipment in the semiconductor business within the Electronics segment. See Note 8, Restructuring, Impairment and Other Charges, for further discussion.
Other segment operating expenses include cost of sales, selling, general, and administration expenses, and research and development expenses. Other segment expenses are reconciled to the operating income of each segment. The CODM regularly assesses the performance of each operating segment focusing on each operating segment’s revenue and operating income.

The Company’s depreciation and amortization expenses by segment for the fiscal years 2025, 2024, and 2023 were as follows:

(in thousands)
202520242023
Depreciation
Electronics$47,599 $40,456 $39,461 
Transportation21,143 22,117 26,732 
Industrial6,129 5,752 5,441 
Total depreciation $74,871 $68,325 $71,634 
Amortization
Electronics$40,350 $39,362 $39,883 
Transportation13,540 13,518 15,782 
Industrial5,903 9,247 10,129 
Total amortization$59,793 $62,127 $65,794 
The Company’s net sales classified according to the country where the customer is located, net property, plant, and equipment and additions to net property, plant, and equipment by country for the fiscal years 2025, 2024, and 2023 were as follows:
 
(in thousands)
202520242023
Net sales   
U.S.$830,293 $800,331 $820,735 
China571,587 506,643 546,786 
Other countries(a)
984,414 883,794 995,136 
Total net sales$2,386,294 $2,190,768 $2,362,657 
Long-lived assets
U.S.$95,619 $74,698 $73,126 
China130,047 132,504 139,736 
Mexico83,478 89,558 102,218 
Germany110,246 58,758 47,217 
Philippines61,591 66,174 73,217 
Other countries59,659 55,376 57,639 
Total long-lived assets$540,640 $477,068 $493,153 
Additions to long-lived assets
U.S.$10,694 $19,081 $9,502 
China13,371 16,045 32,805 
Mexico6,381 10,181 13,920 
Germany20,626 19,972 10,279 
Philippines5,716 4,383 6,156 
Other countries8,462 8,751 10,992 
Total additions to long-lived assets$65,250 $78,413 $83,654 

(a)Each country included in other countries are less than 10% of net sales.
 
For the year ended December 27, 2025, approximately 65% of the Company’s net sales were to customers outside the U.S. (exports and foreign operations), including approximately 24% to China. For the year ended December 28, 2024, approximately 63% of the Company's net sales were to customers outside the U.S. (exports and foreign operations), including approximately 23% to China. For the year ended December 30, 2023, approximately 65% of the Company's net sales were to customers outside the U.S. (exports and foreign operations), including approximately 23% to China. Sales to Arrow Electronics, Inc., which were included in the Electronics, Transportation, and Industrial segments, were 9.5%, 9.4%, and 11.2% of consolidated net sales in 2025, 2024, and 2023 respectively. No other single customer accounted for more than 10% of net sales during the last three years.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 27, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Off-Balance Sheet Arrangements

As of December 27, 2025, the Company did not have any off-balance sheet arrangements, as defined under SEC rules. Specifically, the Company was not liable for guarantees of indebtedness owed by third parties, the Company was not directly liable for the debt of any unconsolidated entity and the Company did not have any retained or contingent interest in assets. The Company does not participate in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities.

Product Warranty Liabilities

The Company's policy is to accrue for warranty claims when a loss is both probable and estimable. Liabilities for warranty claims have historically not been material and in limited instances, customers may make claims for costs they incurred or other damages related to a claim.

The Company carries insurance for potential product liability claims at coverage levels based on the Company's prior claims experience. This coverage is subject to deductibles, and various terms and conditions. The Company cannot assure that the level of coverage will be sufficient to cover every possible claim that can arise in its businesses, now or in the future, or that such coverage always will be available should the Company, now or in the future, wish to extend, increase or otherwise adjust its insurance.

The Company has been notified by one of its customers of a product recall potentially due to certain fuses provided by Littelfuse and incorporated in such products. The Company is currently working with its customer to investigate the cause and level of responsibility for this recall. The Company has determined pursuant to ASC 450, "Contingencies", that a loss is reasonably possible. However, the Company continues to evaluate this matter and the ultimate costs of the recall and range of the potential loss cannot be determined at this time. Accordingly, no accrual has been made yet for this matter. Factors that will impact the amount of such losses include the per vehicle cost of fuse replacement, the determination of the relative liability among the customer, the Company, and any relevant third parties, as well as actual insurance recoveries.

Environmental Remediation Liabilities

Refer to Note 1: Summary of Significant Accounting Policies and Other Information related to environmental liabilities. Our operations and facilities are subject to U.S. and non-U.S. laws and regulations governing the protection of the environment and our employees, including those governing air emissions, chemical usage, water discharges, the management and disposal of hazardous substances and wastes, and the cleanup of contaminated sites. We could incur significant costs, including cleanup costs, fines, civil or criminal sanctions, or third-party property damage or personal injury claims, in the event of violations or liabilities under these laws and regulations, or non-compliance with the environmental permits required at our facilities. Potentially significant expenditures could be required in order to comply with environmental laws that may be adopted or imposed in the future. We are, however, not aware of any threatened or pending material environmental investigations, lawsuits, or claims involving the Company or its operations.

Legal Proceedings

In the ordinary course of business, the Company may be involved in a number of claims and litigation matters. While it is not feasible to predict the outcome of these matters, based upon our experience and current information known to us, we do not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on our results of operations, financial position, and/or cash flows.

The Company accounts for litigation and claims losses in accordance with FASB ASC Topic 450, Contingencies where loss contingency provisions are recognized for probable and estimable losses at our best estimate of a loss or, when a best estimate cannot be made, at our estimate of the minimum loss. These estimates require the application of considerable judgment and are refined each accounting period as additional information becomes known. We are often initially unable to develop a best estimate of loss and therefore the minimum amount, which could be an immaterial amount, is recognized. As information becomes known, either the minimum loss amount is increased, or a best estimate can be made, resulting in additional loss provisions. A best estimate may be changed to a lower amount when events result in an expectation of a more favorable outcome than previously expected.

Pending Litigation and Claims

There are no material pending litigation or claims outstanding as of December 27, 2025.
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 27, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
 
As a result of the Company’s acquisition of IXYS, the Company has equity ownerships in various investments that are accounted for under the equity method. The following is a description of the investments and related party transactions.
 
Powersem GmbH: The Company owns 45% of the outstanding equity of Powersem GmbH (“Powersem”), a module manufacturer based in Germany.
 
EB-Tech Co., Ltd.: The Company owns approximately 15% of the outstanding equity of EB-Tech Co., Ltd. (“EB Tech”), a company with expertise in radiation technology based in South Korea.
 
Automated Technology (Phil), Inc.: The Company owns approximately 24% of the outstanding common shares of Automated Technology (Phil), Inc. (“ATEC”), a supplier located in the Philippines that provides assembly and test services.
Fiscal Year Ended
December 27, 2025December 28, 2024
(in millions)PowersemEB Tech ATECPowersemEB Tech ATEC
Sales to related party$1.2 $— $— $1.5 $— $— 
Purchase of material/services from related party2.2 0.9 9.0 3.8 0.7 5.7 
Accounts payable balance$0.1 $0.1 $2.1 $0.7 $0.1 $0.7 
v3.25.4
Schedule II - Valuation and Qualifying Accounts and Reserves
 12 Months Ended
Dec. 27, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts and Reserves
SCHEDULE II
 
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
 
 
 
 
Description
Balance at
Beginning
of Year		Charged to
Costs and
Expenses (a)
 
 
Deductions (b)
 
 
Other (c)
Balance at
End
of Year
(in thousands)
     
Fiscal year ended December 27, 2025     
Allowance for credit losses on accounts receivable$1,589 $815 $(266)$382 $2,520 
Reserves for sales discounts and allowances$68,401 $168,821 $(164,156)$1,487 $74,553 
Fiscal year ended December 28, 2024
Allowance for credit losses on accounts receivable$2,187 $(182)$(345)$(71)$1,589 
Reserves for sales discounts and allowances$82,509 $138,735 $(151,946)$(897)$68,401 
Fiscal year ended December 30, 2023
Allowance for credit losses on accounts receivable$1,575 $519 $(181)$274 $2,187 
Reserves for sales discounts and allowances$81,987 $186,021 $(186,043)$544 $82,509 
 
(a)Includes provision for credit losses, sales returns and sales discounts granted to customers.
(b)Represents uncollectible accounts written off, net of recoveries and credits issued to customers.
(c)Represents business acquisitions and foreign currency translation adjustments.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 27, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 27, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 27, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The cybersecurity and data protection program at Littelfuse is based on foundational principles outlined in applicable industry and internationally accepted-cybersecurity frameworks. The Company has experienced and will continue to experience cyber-attacks, attempts to breach its systems, and other similar incidents, however we do not believe that the prior cyber incidents have materially affected or are reasonably likely to materially affect the Company. Littelfuse faces risks from cybersecurity threats that could have a material adverse effect on its business, financial condition, results of operations, cash flows, or reputation. Like all cybersecurity programs, there is no guarantee that every attack method and technique has been fully addressed, as these change constantly, but Littelfuse is diligent in its attempts to protect data of the Company and its stakeholders.

Littelfuse strives to assess and update its cybersecurity program on a regular basis using an Information Security Management System ("ISMS") comprised of three main elements – 1) independent internationally recognized vendors and technologies for
assessments and monitoring, 2) strong internal controls based on industry standards, and 3) Board and Senior Leadership governance and support.

The ISMS within Littelfuse consists of internationally recognized program elements that reduce the risk of an operational or cybersecurity incident from significantly impacting Littelfuse and its customers, vendors, and employees. These ISMS elements include but are not limited to:

Security Awareness and Training – Littelfuse has an IT security awareness program consisting of training on the fundamentals of information security protection. These training courses are provided annually.

Network Protection – Network protection, detection, and monitoring technologies have been deployed on all external and internal network connections to segment different sections of the business from each other to strengthen key protection capabilities.

Identity and Access Management ("IAM") – Littelfuse has implemented user authentication controls on its systems, devices, data, and applications. In addition, multi-factor authentication is implemented for all personnel who remotely access or have privileged account access to Littelfuse systems and networks.

Data Classification and Protection – Littelfuse has implemented data loss prevention and classification labels and encryption on its internal unstructured data to prevent unauthorized data loss and data sharing. Structured data in ERP systems and core business systems are encrypted and protected by industry cybersecurity standards and procedures.

Endpoint Protection – Littelfuse has implemented anti-virus, malware, and endpoint protection management detection and monitoring solutions on end-user devices and servers. Logs and alerts from these monitoring solutions are routed to independent third-party monitoring vendors that provide 24/7 monitoring, around the world.

Threat and Vulnerability Management – Littelfuse uses an internationally recognized managed security services provider ("MSSP") and technologies to collect security alert and audit logs on a 24/7 basis, monitor and assess latest threat intelligence, provide analysis on new identified potential vulnerabilities, and provide response and support services to rapidly reduce any identified vulnerabilities.

Security Incident Management – Security incident response plans and procedures have been developed in collaboration with our MSSP. They allow us to assess potential threats, first and second level notification and response protocols, and supporting notification protocols – both internally and externally. These plans, procedures, and protocols are tested and updated on a regular basis.

Resiliency and Contingency Planning – Risk assessments are performed on a regular basis to assess the IT risk of single points of failure, security maturity, and security vulnerabilities. The results of these assessments are used to define various resiliency and contingency mitigation strategies, corrective action plans, on-site and remote data back-up strategies and technologies and allocation of IT resources.

Assessments and testing – Littelfuse engages third party specialists to conduct periodic assessments and testing of our policies, standards, processes, and practices that are designed to address cybersecurity threats. These efforts include tabletop exercises, risk assessments, vulnerability testing, and other exercises focused on evaluating the effectiveness of our cybersecurity program. We adjust our cybersecurity program where appropriate based on the internal and external assessments and testing results.

Governance
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
The cybersecurity and data protection program at Littelfuse is based on foundational principles outlined in applicable industry and internationally accepted-cybersecurity frameworks. The Company has experienced and will continue to experience cyber-attacks, attempts to breach its systems, and other similar incidents, however we do not believe that the prior cyber incidents have materially affected or are reasonably likely to materially affect the Company. Littelfuse faces risks from cybersecurity threats that could have a material adverse effect on its business, financial condition, results of operations, cash flows, or reputation. Like all cybersecurity programs, there is no guarantee that every attack method and technique has been fully addressed, as these change constantly, but Littelfuse is diligent in its attempts to protect data of the Company and its stakeholders.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Audit Committee of the Board of Directors is tasked with overseeing the Company’s cybersecurity program as a part of its broader compliance oversight mandate. The Company’s Chief Information Officer ("CIO") and Chief Information Security Officer (“CISO”) are responsible for its cybersecurity program and regularly provide updates to the Littelfuse Executive Leadership Team (“ELT”) and the Audit Committee, as well as the full Board, which include information regarding our cybersecurity program initiatives, insurance coverage, acquisition integration processes, program performance as well as the maturity of the Littelfuse cybersecurity program. These cybersecurity maturity updates are based on cybersecurity maturity reporting and analysis by the Littelfuse internal IT team, as well as reporting provided by independent third parties. The updates help the ELT, the Audit Committee, and the Board to understand the risks the organization faces based on changing cybersecurity threats and on changes to the Littelfuse environment due to factors such as acquisitions and new technology upgrades and improvements. Representatives from Littelfuse’s technology team and other business functions receive regular
cybersecurity risk reports and use this information for its decision making in operational improvements as well as budget and resource allocations. For the past seven years, the CIO has led and evolved Littelfuse’s cybersecurity function. To address growing cyber threats and advance the program further, in 2025 the Company appointed a CISO with over 20 years of information technology and cybersecurity experience.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee of the Board of Directors is tasked with overseeing the Company’s cybersecurity program as a part of its broader compliance oversight mandate. The Company’s Chief Information Officer ("CIO") and Chief Information Security Officer (“CISO”) are responsible for its cybersecurity program and regularly provide updates to the Littelfuse Executive Leadership Team (“ELT”) and the Audit Committee, as well as the full Board, which include information regarding our cybersecurity program initiatives, insurance coverage, acquisition integration processes, program performance as well as the maturity of the Littelfuse cybersecurity program. These cybersecurity maturity updates are based on cybersecurity maturity reporting and analysis by the Littelfuse internal IT team, as well as reporting provided by independent third parties. The updates help the ELT, the Audit Committee, and the Board to understand the risks the organization faces based on changing cybersecurity threats and on changes to the Littelfuse environment due to factors such as acquisitions and new technology upgrades and improvements. Representatives from Littelfuse’s technology team and other business functions receive regular
cybersecurity risk reports and use this information for its decision making in operational improvements as well as budget and resource allocations. For the past seven years, the CIO has led and evolved Littelfuse’s cybersecurity function. To address growing cyber threats and advance the program further, in 2025 the Company appointed a CISO with over 20 years of information technology and cybersecurity experience.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] experienc
Cybersecurity Risk Role of Management [Text Block]
The Audit Committee of the Board of Directors is tasked with overseeing the Company’s cybersecurity program as a part of its broader compliance oversight mandate. The Company’s Chief Information Officer ("CIO") and Chief Information Security Officer (“CISO”) are responsible for its cybersecurity program and regularly provide updates to the Littelfuse Executive Leadership Team (“ELT”) and the Audit Committee, as well as the full Board, which include information regarding our cybersecurity program initiatives, insurance coverage, acquisition integration processes, program performance as well as the maturity of the Littelfuse cybersecurity program. These cybersecurity maturity updates are based on cybersecurity maturity reporting and analysis by the Littelfuse internal IT team, as well as reporting provided by independent third parties. The updates help the ELT, the Audit Committee, and the Board to understand the risks the organization faces based on changing cybersecurity threats and on changes to the Littelfuse environment due to factors such as acquisitions and new technology upgrades and improvements. Representatives from Littelfuse’s technology team and other business functions receive regular
cybersecurity risk reports and use this information for its decision making in operational improvements as well as budget and resource allocations. For the past seven years, the CIO has led and evolved Littelfuse’s cybersecurity function. To address growing cyber threats and advance the program further, in 2025 the Company appointed a CISO with over 20 years of information technology and cybersecurity experience.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Audit Committee of the Board of Directors is tasked with overseeing the Company’s cybersecurity program as a part of its broader compliance oversight mandate. The Company’s Chief Information Officer ("CIO") and Chief Information Security Officer (“CISO”) are responsible for its cybersecurity program and regularly provide updates to the Littelfuse Executive Leadership Team (“ELT”) and the Audit Committee, as well as the full Board, which include information regarding our cybersecurity program initiatives, insurance coverage, acquisition integration processes, program performance as well as the maturity of the Littelfuse cybersecurity program. These cybersecurity maturity updates are based on cybersecurity maturity reporting and analysis by the Littelfuse internal IT team, as well as reporting provided by independent third parties. The updates help the ELT, the Audit Committee, and the Board to understand the risks the organization faces based on changing cybersecurity threats and on changes to the Littelfuse environment due to factors such as acquisitions and new technology upgrades and improvements. Representatives from Littelfuse’s technology team and other business functions receive regular
cybersecurity risk reports and use this information for its decision making in operational improvements as well as budget and resource allocations. For the past seven years, the CIO has led and evolved Littelfuse’s cybersecurity function. To address growing cyber threats and advance the program further, in 2025 the Company appointed a CISO with over 20 years of information technology and cybersecurity experienc
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] CISO with over 20 years of information technology and cybersecurity experience.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] experienc
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Significant Accounting Policies and Other Information (Policies)
 12 Months Ended
Dec. 27, 2025
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year 
 
References herein to “2025”, “fiscal 2025” or “fiscal year 2025” refer to the fiscal year ended December 27, 2025. References herein to “2024”, “fiscal 2024” or “fiscal year 2024” refer to the fiscal year ended December 28, 2024. References herein to “2023”, “fiscal 2023” or “fiscal year 2023” refer to the fiscal year ended December 30, 2023. The Company operates on a 52-53 week fiscal year (4-4-5 basis) ending on the Saturday closest to December 31.
Basis of Presentation
Basis of Presentation 
 
The Consolidated Financial Statements include the accounts of Littelfuse, Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company’s Consolidated Financial Statements were prepared in accordance with generally accepted accounting principles in the United States of America ("U.S.") and include the assets, liabilities, sales and expenses of all wholly owned subsidiaries and majority-owned subsidiaries over which the Company exercises control.
Use of Estimates
Use of Estimates 
 
The process of preparing financial statements in conformity with generally accepted accounting principles in the U.S. requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses and the accompanying notes. The Company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in its evaluation, as considered necessary. Actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
 
All highly liquid investments, with an original maturity of three months or less when purchased, are considered to be cash equivalents. The Company maintains several pools including multicurrency notional pools and physical pools internationally and a zero-balance account ("ZBA") structure in the U.S. In the notional pools, actual cash balances are not physically converted and are not commingled between participating legal entities. The Company will classify any overdraft balances within accrued expenses and other current liabilities on the Consolidated Balance Sheets.
Short-Term and Long-Term Investments
Short-Term and Long-Term Investments

As of December 27, 2025, the Company has an investment in Polytronics Technology Corporation Ltd. (“Polytronics”). The Company’s Polytronics shares held at the end of fiscal 2025 and 2024 represent approximately 6.7% of total Polytronics shares outstanding for both years. The Polytronics investment is carried at fair value. The fair value of the Polytronics investment was €6.5 million (approximately $7.7 million) at December 27, 2025 and €9.8 million (approximately $10.2 million) at December 28, 2024.
 
As a result of the Company’s acquisition of IXYS Corporation ("IXYS"), the Company has equity ownerships in various investments that are accounted for under the equity method. The Company owns 45% of the outstanding equity of Powersem GmbH, a module manufacturer based in Germany, approximately 15% of the outstanding equity of EB Tech Co., Ltd., a company with expertise in radiation technology based in South Korea, and approximately 24% of the outstanding common shares of Automated Technology (Phil), Inc., a supplier located in the Philippines that provides assembly and test services. The Company recognized a loss of $1.0 million and $0.6 million from its equity method investments for the fiscal years ended December 27, 2025 and December 28, 2024, respectively, recorded in Other (income), net, in the Consolidated Statements of Net (Loss) Income. The balance of these equity method investments was $12.3 million and $13.1 million as of the fiscal years ended December 27, 2025 and December 28, 2024, respectively. See Note 18, Related Party Transactions, for further discussion.

The Company has investments related to its non-qualified Supplemental Retirement and Savings Plan. The Company maintains accounts for participants through which participants make investment elections. The investment securities are subject to the claims of the Company’s creditors. The investment securities are all mutual funds. The investment securities are measured at net asset value. As of December 27, 2025 and December 28, 2024, the investment securities balance was $25.7 million and $23.3 million, respectively, related to the plan and are included in Other long-term assets on the Consolidated Balance Sheets.
Trade Receivables
Trade Receivables
 
The Company performs credit evaluations of customers’ financial condition and generally does not require collateral. A receivable is considered past due if payments have not been received within agreed upon invoice terms. Write-offs are recorded at the time a customer receivable is deemed uncollectible.
 
The Company also maintains allowances against trade receivables for the settlement of rebates and sales discounts to customers. These allowances are based upon specific customer sales and sales discounts as well as actual historical experience.
Inventories
Inventories
 
Inventories are stated at the lower of cost or net realizable value, which approximates current replacement cost. Cost is principally determined using the first-in, first-out method. The Company maintains excess and obsolete reserves against inventory to reduce the carrying value to the expected net realizable value. These reserves are based upon a combination of factors including historical sales volume, market conditions, and lower of cost or net realizable value of the inventory.
Property, Plant, and Equipment
Property, Plant, and Equipment
 
Land, buildings, and equipment are carried at cost. Depreciation is calculated using the straight-line method with useful lives of up to 35 years for buildings, three to 20 years for equipment, seven years for furniture and fixtures, five years for tooling, and three years for computer equipment. Leasehold improvements are depreciated over the lesser of their useful life or the lease term. Maintenance and repair costs are charged to expense as incurred. Major overhauls that extend the useful lives of existing assets are capitalized.
Goodwill
Goodwill
 
The Company annually tests goodwill for impairment on the first day of its fiscal fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value.

The results of the goodwill impairment test as of September 28, 2025 indicated that the estimated fair value for the Electronics-Semiconductor reporting unit was below its respective carrying value. Accordingly, the Company recorded a non-cash impairment charge of $301.2 million to reflect the impairment of goodwill for the Electronics-Semiconductor reporting unit within the Electronics segment. As a result of the impairment charge, the Electronics-Semiconductor reporting unit had $238.5 million of goodwill as of December 27, 2025. For the remainder of the Company's reporting units with goodwill: Electronics-Passive Products and Sensors, Passenger Car Products, Commercial Vehicle Products, Industrial Controls and Sensors, and Industrial Circuit Protection, the results of the goodwill impairment test as of September 28, 2025 indicated that their estimated fair values exceeded their respective carrying values.

During the fourth quarter of 2024, the Company recorded non-cash charges of $36.1 million and $8.6 million, respectively, to reflect the impairment of goodwill for the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive Sensors reporting unit within the Transportation segment. As of December 27, 2025, the Industrial controls and sensors reporting unit had $274.9 million of remaining goodwill. There was no goodwill remaining within the Automotive sensors reporting unit as of December 28, 2024.

There was no impairment charge recorded during the fiscal year of 2023.

The Company compares each reporting unit’s fair value, estimated based on comparable company market valuations and expected future discounted cash flows to be generated by the reporting unit, to its carrying value. With the exception of the Electronics-Semiconductor reporting unit within the Electronics segment, the other five reporting units with goodwill passed the goodwill impairment test, with estimated fair values that exceeded the carrying values between 22% and 303%. As of the most recent annual test conducted on September 28, 2025, the Company noted that the excess of fair value over the carrying value was 87%, 153%, 99%, 22% and 303% for its reporting units: Electronics-Passive Products and Sensors, Passenger Car Products, Commercial Vehicle Products, Industrial Controls and Sensors, and Industrial Circuit Protection, respectively. Relatively small changes in the Company’s key assumptions would not have resulted in any reporting units failing the goodwill impairment test. See Note 5, Goodwill and Other Intangible Assets, for additional information.
The Company also performs an interim review for indicators of impairment each quarter to assess whether an interim impairment review is required for any reporting unit. As part of its interim reviews, management analyzes potential changes in the value of individual reporting units based on each reporting unit’s operating results for the period compared to expected results as of the prior year’s annual impairment test. In addition, management considers how other key assumptions, including discount rates and expected long-term growth rates, used in the last annual impairment test, could be impacted by changes in market conditions and economic events. Based on the interim assessments as of December 27, 2025, management concluded that no events or changes in circumstances indicated that it was more likely than not that the fair value for any reporting unit had declined below its carrying value.
Long-Lived Assets
Customer relationships, trademarks and tradenames are amortized using the straight-line method over estimated useful lives that have a range of 3 to 20 years. Patents, licenses, and software are amortized using the straight-line method or an accelerated method over estimated useful lives that have a range of 4 to 17 years. The distribution networks are amortized on either a straight-line or accelerated basis over estimated useful lives that have a range of 4 to 10 years. Land use rights are amortized using the straight-line method up to 50 years which is the term of the land use rights.
 
The Company assesses potential impairments to its long-lived assets if events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impaired asset is written down to its estimated fair value based upon the most recent information available. Estimated fair market value is generally measured by discounting estimated future cash flows. Long-lived assets, other than goodwill and other intangible assets, which are held for sale are recorded at the lower of carrying value or the fair market value less the estimated cost to sell.
Environmental Liabilities
Environmental Liabilities
 
Environmental liabilities are accrued based on engineering studies estimating the cost of remediating sites. Expenses related to on-going maintenance of environmental sites are expensed as incurred. If actual or estimated probable future losses exceed the Company’s recorded liability for such claims, the Company would record additional charges during the period in which the actual loss or change in estimate occurred.
Pension and Other Post-retirement Benefits
Pension and Other Post-retirement Benefits
 
The Company records annual income and expense amounts relating to its pension and post-retirement benefits plans based on calculations which include various actuarial assumptions including discount rates, expected long-term rates of return and compensation increases. The Company reviews its actuarial assumptions on an annual basis as of the fiscal year-end balance sheet date (or more frequently if a significant event requiring remeasurement occurs) and modifies the assumption based on current rates and trends when it is appropriate to do so. The effects of modifications are recognized immediately on the Consolidated Balance Sheets, but are generally amortized into operating earnings over future periods, with the deferred amount recorded in accumulated other comprehensive loss. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience, market conditions and input from its actuaries and investment advisors.
Revenue Recognition
Revenue Recognition
 
The Company recognizes revenue on product sales in the period in which the Company satisfies its performance obligation and control of the product is transferred to the customer. The Company’s sales arrangements with customers are predominately short term in nature and generally provide for transfer of control at the time of shipment as this is the point at which title and risk of loss of the product transfers to the customer. At the end of each period, for those shipments where title to the products and the risk of loss and rewards of ownership do not transfer until the product has been received by the customer, the Company adjusts revenues and cost of sales for the delay between the time that the products are shipped and when they are received by the customer. The amount of revenue recorded reflects the consideration to which the Company expects to be entitled in exchange for goods and may include adjustments for customer allowance, rebates, and price adjustments. The Company’s distribution channels are primarily through direct sales and independent third-party distributors.
 
The Company has elected the practical expedient under ASC 340-40-25-4 to expense commissions when incurred as the amortization period of the commission asset the Company would have otherwise recognized is less than one year.
 
Revenue and Billing
 
The Company generally accepts orders from customers through receipt of purchase orders or electronic data interchange based on written sales agreements and purchasing contracts. Contract pricing and selling agreement terms are based on market factors, costs, and competition. Pricing is often negotiated as an adjustment (premium or discount) from the Company’s published price lists. The customer is invoiced when the Company’s products are shipped to them in accordance with the terms of the sales agreement. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company also elected the practical expedient provided in ASC 606-10-25-18B to treat all product shipping and handling activities as fulfillment activities, and therefore recognize the gross revenue associated with the contract, inclusive of any shipping and handling revenue.
 
Ship and Debit Program
 
Some of the terms of the Company’s sales agreements and normal business conditions provide customers (distributors) the ability to receive price adjustments on products previously shipped and invoiced. This practice is common in the industry and is referred to as a “ship and debit” program. This program allows the distributors to debit the Company for the difference between the distributors’ contracted price and a lower price for specific transactions. Under certain circumstances (usually in a competitive situation or large volume opportunity), a distributor will request authorization for pricing allowances to reduce its price. When the Company approves such a reduction, the distributor is authorized to “debit” its account for the difference between the contracted price and the lower approved price. The Company establishes reserves for this program based on historic activity, distributor inventory levels and actual authorizations for the debit and recognizes these debits as a reduction of revenue.

Return to Stock 
 
The Company has a return to stock policy whereby certain customers, with prior authorization from the Company's management, can return previously purchased goods for full or partial credit. The Company establishes an estimated allowance for these returns based on historic activity. Sales revenue and cost of sales are reduced to anticipate estimated returns.
 
Volume Rebates
 
The Company offers volume-based sales incentives to certain customers to encourage greater product sales. If customers achieve their specific quarterly or annual sales targets, they are entitled to rebates. The Company estimates the projected amount of rebates that will be achieved by the customer and recognizes this estimated cost as a reduction to revenue as products are sold.
Allowance for Credit Losses
Allowance for Credit Losses

The Company currently measures the expected credit losses based on our historical credit loss experience. The Company has not experienced significant recent or historical credit losses and is not forecasting any significant credit losses which would require adjustments to our methodology. If current conditions and supportable forecasts indicate that our historical loss experience is not reasonable and no longer supportable, the Company may adjust its historical credit loss experience and to reflect these conditions and forecasts. The Company regularly analyzes its significant customer accounts and, when the Company becomes aware of a customer’s inability to meet its financial obligations, the Company records a specific reserve for bad debt to reduce the related receivable to the amount the Company reasonably believes is collectible. The Company also analyzes all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, macroeconomic considerations and historical collection and loss experience. Historically, the allowance for credit losses has been adequate to cover bad debts. If circumstances related to specific customers change, the estimates of the recoverability of receivables could be further adjusted.
Advertising Costs
Advertising Costs
 
The Company expenses advertising costs as incurred,
Shipping and Handling Fees and Costs
Shipping and Handling Fees and Costs
 
Amounts billed to customers related to shipping and handling are classified as revenue. Costs incurred for shipping and handling of $14.3 million, $15.3 million, and $15.4 million in fiscal years 2025, 2024, and 2023, respectively, are classified in selling, general, and administrative expenses.
Foreign Currency Translation / Remeasurement
Foreign Currency Translation / Remeasurement
 
The Company’s foreign subsidiaries use the local currency or the U.S. dollar as their functional currency, as appropriate. Assets and liabilities are translated using exchange rates at the balance sheet date, and revenues and expenses are translated at weighted average rates. Adjustments from the translation process are recognized in Shareholders’ equity as a component of Accumulated other comprehensive loss.
Stock-Based Compensation
Stock-Based Compensation
 
The Company recognizes compensation expense for the cost of awards of equity compensation using a fair value method. Benefits of tax deductions in excess of recognized compensation expense are reported as operating cash flows. See Note 12, Stock-Based Compensation, for additional information on stock-based compensation.
Coal Mining Liability
Coal Mining Liability

Included in accrued liabilities is an accrual related to former coal mining operations at Littelfuse GmbH (formerly known as Heinrich Industries, AG) for the amounts of €1.8 million ($2.2 million) and €2.2 million ($2.3 million) at December 27, 2025 and December 28, 2024, respectively. Management, in conjunction with an independent third-party, performs an annual evaluation of the former coal mining operations in order to develop an estimate of the probable future obligations in regard to remediating the dangers (such as a shaft collapse) of abandoned coal mine shafts in the former coal mining operations. Management accrues for costs associated with such remediation efforts based on management's best estimate when such costs are probable and reasonably able to be estimated. The ultimate determination can only be done after respective investigations because the concrete conditions are mostly unknown at this time.
Other Income, Net
Other Income, Net
 
Other income, net generally consists of interest income, royalties, changes in fair value of available-for-sale securities, pension non-service costs and settlements and other non-operating (income) expense.
Income Taxes
Income Taxes
 
The Company accounts for income taxes using the asset and liability method. Deferred taxes are recognized for the future effects of temporary differences between financial and income tax reporting using enacted tax rates in effect for the years in which the differences are expected to reverse. The Company recognizes deferred taxes for temporary differences, operating loss carryforwards, and tax credit and other tax attribute carryforwards (excluding carryforwards where usage has been determined to be remote). Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. U.S. state and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to the U.S. and be taxable (and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to an upper-tier non-U.S. entity). Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Deferred U.S. income taxes and non-U.S. taxes are not provided on the excess of the investment value for financial reporting over the tax basis of investments in those non-U.S. subsidiaries for which such excess is considered to be permanently reinvested in those operations. Management regularly evaluates whether non-U.S. earnings are expected to be permanently reinvested. This evaluation requires judgment about the future operating and liquidity needs of the Company and its non-U.S. subsidiaries. Changes in economic and business conditions, tax laws, or the Company’s financial situation could result in changes to these judgments and the need to record additional tax liabilities.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.
The 2017 Tax Cuts and Jobs Act (the "Tax Act"), among other things, imposed a one-time tax (the “Toll Charge”) on accumulated earnings of certain non-U.S. subsidiaries and included base broadening provisions commonly referred to as the global intangible low-taxed income provisions ("GILTI").

In accordance with guidance issued by the FASB staff, the Company has adopted an accounting policy to treat any GILTI inclusions as a period cost if and when incurred. Thus, for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023, deferred taxes were computed without consideration of the possible future impact of the GILTI provisions, and any current year impact was recorded as a part of the current portion of income tax expense.

On July 4, 2025, the United States enacted into law the legislation formally titled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” and commonly referred to as the One Big Beautiful Bill Act (“OBBB”). The OBBB contains multiple business tax provisions, including the permanent extension of several expiring provisions of the Tax Act and multiple modifications to the international tax framework. The legislation has multiple effective dates with certain provisions effective in 2025 and others to be implemented in future years, and the Company determined the impact for the year ended December 27, 2025 was not significant. The Company will continue to monitor future administrative guidance and regulations that clarify the legislative text of the OBBB and the bill’s potential effect on the Company’s income taxes.
Fair Value Measurements
Fair Value Measurements
 
Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company records the fair value of its available-for-sale securities and pension plan assets on a recurring basis. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used, long-lived assets held for sale, goodwill, and other intangible assets. The fair value of cash and cash equivalents, short-term investments, accounts receivable, accounts payable, and accrued liabilities approximate their carrying values. The three-tier value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is:
 
Level 1 – Valuations based on unadjusted quoted prices for identical assets and liabilities in active markets.
 
Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.
 
Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants.
Recently Issued and Adopted Accounting Standards
Recently Adopted Accounting Standards

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates ("ASU") No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The amendments in this update provide more transparency about income tax information through improvements to the income tax disclosure primarily related to the income tax rate reconciliation and income taxes paid information. These requirements include: (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The other amendments in this update improve the effectiveness and comparability of disclosures by (3) adding disclosures of pretax income (or loss) and income tax expense (or benefit), and (4) removing disclosures that are no longer considered cost beneficial or relevant. The guidance is effective for fiscal years beginning after December 15, 2024 with early adoption permitted. The Company adopted ASU 2023-09 for the year ended December 27, 2025, and applied the new disclosure requirements prospectively to the current annual period. Prior period disclosures have not been adjusted to reflect the new disclosure requirements. See Note 14, Income Taxes, for more information and the updated disclosures.
Recently Issued Accounting Standards

In December 2025, the FASB issued ASU No. 2025-12, "Codification Improvements." The amendments in this update represent changes to the codification that clarify, correct errors, or make minor improvements. The amendments make the codification easier to understand and apply. The amendments in this update are varied in nature and may affect the application of guidance in cases in which the original guidance may have been unclear. The guidance is effective for fiscal years beginning after December 15, 2026 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In December 2025, the FASB issued ASU No. 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements." The amendments in this update result in a comprehensive list of interim disclosures that are required by GAAP. The objective of the amendments is to provide clarity about the current requirements, rather than evaluate whether to expand or reduce interim disclosure requirements. The amendments in this update include a disclosure principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. The amendments in this update also clarify the applicability of Topic 270, the types of interim reporting, and the form and content of interim financial statements in accordance with GAAP. The guidance is effective for fiscal years beginning after December 15, 2027 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In November 2025, the FASB issued ASU No. 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements." The amendments in this update are intended to more closely align hedge accounting with the economics of an entity's risk management activities.The five issues addressed in this update (1) expand the hedged risks permitted to be aggregated in a group of individual forecasted transactions in a cash flow hedge by changing the requirement to designate a group of individual forecasted transactions from having a shared risk exposure to having a similar risk exposure, (2) provide a model to facilitate the application of cash flow hedge accounting to forecasted interest payments on variable-rate debt instruments with contractual terms that permit the borrower to change the interest rate index and interest rate tenor upon which interest is accrued, (3) expand hedge accounting for forecasted purchases and sales of nonfinancial assets, (4) update the hedge accounting guidance to accommodate differences in the loan and swap markets that developed after the cessation of the London Interbank Offered Rate, and (5) eliminate the recognition and presentation mismatch related to a dual hedge strategy. The guidance is effective for fiscal years beginning after December 15, 2026 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.

In September 2025, the FASB issued ASU No. 2025-06, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software." The amendments in this update require the entity to start capitalizing software costs when both of the following criteria are met: (1) management has authorized and committed to funding the software project, and (2) it is probable that the project will be completed and the software will be used to perform the function intended (referred to as the "probable-to-complete recognition threshold"). The amendments clarify that the intangibles disclosures are not required for capitalized internal-use software costs. Additionally, the amendments in this update supersede the website development costs guidance and incorporate the recognition requirements for website-specific development costs. The guidance is effective for fiscal years beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the potential effects of these amendments on its Consolidated Financial Statements.

In September 2025, the FASB issued ASU No. 2025-05, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets." The amendments in this update provide entities with a practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606. In developing reasonable and supportable forecasts as part of estimating expected credit losses, the practical expedient allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. The guidance is effective for fiscal years beginning after December 15, 2025 with early adoption permitted. The Company does not expect any material effect of the adoption of this guidance on the Company's Consolidated Financial Statements.
In November 2024, the FASB issued ASU No. 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)." The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses. The amendments require that at each interim and annual reporting period an entity (a) disclose the amounts of (i) purchases of inventory, (ii) employee compensation, (iii) depreciation, (iv) intangible asset amortization, and (v) depreciation, depletion, and amortization recognized as part of oil and gas producing activities ("DD&A") included in each relevant expense caption. A relevant expense caption is an expense caption presented on the face of the income statement within continuing operations that contains any of the expense categories listed in (i)–(v); (b) include certain amounts that are already required to be disclosed under current Generally Accepted Accounting Principles ("GAAP") in the same disclosure as the other disaggregation requirements; (c) disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively; (d) disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The guidance is effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The adoption of this guidance will increase the Company's disclosures in its Consolidated Financial Statements. The Company is currently evaluating the potential impact on the disclosures in the Company's Consolidated Financial Statements.

In October 2023, the FASB issued ASU No. 2023-06, "Disclosure Improvements." The amendments in this update represent changes to clarify or improve the disclosure or presentation requirements of a variety of Topics in the ASC. The Company may be affected by one or more of those amendments. The amendments in this ASU should be applied prospectively and will not be effective until June 30, 2027. The Company is currently evaluating the potential effects of these amendments on its Consolidated Financial Statements.
v3.25.4
Summary of Significant Accounting Policies and Other Information (Tables)
 12 Months Ended
Dec. 27, 2025
Accounting Policies [Abstract]  
Schedule of cash and cash equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash at December 27, 2025 and December 28, 2024 reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows.
 
Fiscal Year Ended
(in millions)20252024
Cash and cash equivalents$563,391 $724,924 
Restricted cash included in other assets1,713 1,513 
Total cash, cash equivalents and restricted cash$565,104 $726,437 
Schedule of restricted cash and cash equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash at December 27, 2025 and December 28, 2024 reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statement of Cash Flows.
 
Fiscal Year Ended
(in millions)20252024
Cash and cash equivalents$563,391 $724,924 
Restricted cash included in other assets1,713 1,513 
Total cash, cash equivalents and restricted cash$565,104 $726,437 
Schedule of revenue disaggregation
The following table disaggregates the Company’s revenue by primary business units for the fiscal years ended December 27, 2025, December 28, 2024, and December 30, 2023:
 Fiscal Year Ended December 27, 2025
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$669,579 $— $— $669,579 
Electronics – Passive Products and Sensors675,943 — — 675,943 
Commercial Vehicle Products— 320,545 — 320,545 
Passenger Car Products— 293,641 — 293,641 
Automotive Sensors— 62,191 — 62,191 
Industrial Products— — 364,395 364,395 
Total$1,345,522 $676,377 $364,395 $2,386,294 
 
 Fiscal Year Ended December 28, 2024
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$615,372 $— $— $615,372 
Electronics – Passive Products and Sensors571,401 — — 571,401 
Commercial Vehicle Products— 320,549 — 320,549 
Passenger Car Products— 278,332 — 278,332 
Automotive Sensors— 73,553 — 73,553 
Industrial Products— — 331,561 331,561 
Total$1,186,773 $672,434 $331,561 $2,190,768 

 Fiscal Year Ended December 30, 2023
(in thousands)Electronics
Segment		Transportation
Segment 		Industrial
Segment
 
Total
Electronics – Semiconductor$767,393 $— $— $767,393 
Electronics – Passive Products and Sensors583,033 — — 583,033 
Commercial Vehicle Products— 323,758 — 323,758 
Passenger Car Products— 266,004 — 266,004 
Automotive Sensors— 88,516 — 88,516 
Industrial Products— — 333,953 333,953 
Total$1,350,426 $678,278 $333,953 $2,362,657 
v3.25.4
Acquisitions (Tables)
 12 Months Ended
Dec. 27, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of recognized identified assets acquired and liabilities assumed
The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Basler acquisition:

(in thousands)Purchase Price
Allocation
Total purchase consideration: 
Cash, net of cash acquired$350,301 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net16,798 
Inventories23,363 
Other current assets2,965 
Property, plant, and equipment23,237 
Intangible assets150,000 
Goodwill152,343 
Other long-term assets5,731 
Current liabilities(21,386)
Other long-term liabilities(2,750)
 $350,301 
The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Dortmund Fab acquisition:

(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, net5,985 
Inventories6,600 
Other current assets8,278 
Property, plant, and equipment30,132 
Intangible assets1,800 
Goodwill57,321 
Other long-term assets8,579 
Current liabilities(7,464)
Other long-term liabilities(15,289)
 $95,942 
The following table summarizes the final purchase price allocation of the fair value of assets acquired and liabilities assumed in the Western Automation acquisition:

(in thousands)Purchase Price
Allocation
Total purchase consideration: 
Cash, net of cash acquired$158,260 
Allocation of consideration to assets acquired and liabilities assumed:
Trade receivables, net3,359 
Inventories3,678 
Other current assets718 
Property, plant, and equipment1,328 
Intangible assets68,000 
Goodwill93,937 
Other long-term assets573 
Current liabilities(4,335)
Other long-term liabilities(8,998)
 $158,260 
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, Basler and Dortmund Fab as though the acquisitions had occurred as of December 31, 2023, and Western Automation as though the acquisition had occurred as of January 2, 2022. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the Basler and Dortmund Fab acquisitions occurred as of December 31, 2023, and Western Automation acquisition occurred as of January 2, 2022 or of future consolidated operating results.
 For the Fiscal Year Ended
(in thousands, except per share amounts)December 27, 2025December 28, 2024December 30, 2023
Net sales$2,515,937 $2,354,262 $2,364,543 
Income before income taxes11,474 148,476 330,114 
Net (loss) income(66,100)96,901 260,812 
Net (loss) income per share — basic(2.66)3.90 10.49 
Net (loss) income per share — diluted(2.66)3.87 10.39 
Schedule of business acquisition, pro forma information, nonrecurring adjustments
Pro forma results presented above primarily reflect the following adjustments:
 For the Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Amortization (a)$(11,009)$(10,481)$(479)
Depreciation(833)(1,821)— 
Transaction costs (b)2,536 (2,535)1,203 
Amortization of unfavorable production contract (c)— 2,269 — 
Amortization of inventory adjustment (d)563 (5,890)— 
Income tax benefit (expense) of above items2,130 4,352 (91)
Total$(6,613)$(14,106)$633 

(a)The amortization adjustment for the twelve months ended December 27, 2025, December 28, 2024, and December 30, 2023, primarily reflects incremental amortization resulting from the measurement of intangibles at their fair values.
(b)The transaction cost adjustments reflect the reversal of certain legal and professional fees from the twelve months ended December 27, 2025 and December 30, 2023, respectively, and recognition of those fees during the twelve months ended December 28, 2024 and December 31, 2022, respectively.
(c)The amortization of the unfavorable production contract during the twelve months ended December 28, 2024 results from the fair value assigned to the unfavorable production contract liability that is amortized over four years.
(d)The amortization of inventory adjustment reflects the reversal of the amount recognized during the twelve months ended December 27, 2025 and recognition of the amortization during the twelve months ended December 28, 2024. The inventory adjustment related to the Basler acquisition is being amortized over three months as the inventory is sold. The inventory adjustment related to the Dortmund Fab acquisition was fully amortized over two months as the inventory was sold during 2025.
v3.25.4
Inventories (Tables)
 12 Months Ended
Dec. 27, 2025
Inventory Disclosure [Abstract]  
Schedule of inventory
The components of inventories at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Raw materials$186,662 $193,788 
Work in process131,129 115,497 
Finished goods181,376 173,513 
Inventory reserves(82,695)(66,525)
Total$416,472 $416,273 
v3.25.4
Property, Plant, and Equipment, net (Tables)
 12 Months Ended
Dec. 27, 2025
Property, Plant and Equipment [Abstract]  
Schedule of components of net property, plant, and equipment
The components of net property, plant, and equipment at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Land and land improvements$24,088 $17,593 
Building and building improvements215,024 192,441 
Machinery and equipment998,988 892,940 
Accumulated depreciation and amortization(697,460)(625,906)
Total$540,640 $477,068 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
The amounts for goodwill and changes in the carrying value by segment were as follows:
 
(in thousands)Electronics
Transportation
IndustrialTotal
Gross goodwill as of December 30, 2023
$936,505 $237,115 $179,117 $1,352,737 
Accumulated impairment losses as of December 30, 2023
— (34,004)(8,735)(42,739)
Net goodwill as of December 30, 2023
$936,505 $203,111 $170,382 $1,309,998 
Changes during 2024:
Impairments— (8,616)(36,147)(44,763)
Foreign currency translation adjustments(29,634)(2,854)(4,245)(36,733)
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)
Net goodwill as of December 28, 2024
$906,871 $191,641 $129,990 $1,228,502 
Changes during 2025:
Additions (a)57,321 — 152,343 209,664 
Impairments(301,185)— — (301,185)
Foreign currency translation adjustments61,322 5,758 7,350 74,430 
Gross goodwill as of December 27, 2025
1,027,462 242,192 338,739 1,608,393 
Accumulated impairment losses as of December 27, 2025
(303,133)(44,793)(49,056)(396,982)
Net goodwill as of December 27, 2025
$724,329 $197,399 $289,683 $1,211,411 

(a) The additions resulted from the acquisitions of Dortmund Fab and Basler.
Schedule of finite-lived intangible assets
The components of intangible assets at December 27, 2025 and December 28, 2024 were as follows:

 As of December 27, 2025
(in thousands)Gross
Carrying
Value
 
Accumulated
Amortization
 
Net Book
Value
Land use rights$16,661 $3,613 $13,048 
Patents, licenses, and software291,192 212,184 79,008 
Distribution network42,384 42,384 — 
Customer relationships, trademarks, and tradenames793,670 290,819 502,851 
Total$1,143,907 $549,000 $594,907 

 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 software260,096 180,674 79,422 
Distribution network41,667 41,667 — 
Customer relationships, trademarks, and tradenames632,572 242,961 389,611 
Total$950,414 $468,296 $482,118 
Schedule of finite-lived intangible assets, future amortization expense
Estimated annual amortization expense related to intangible assets with definite lives at December 27, 2025 is as follows:
 
(in thousands)
Amount
2026$61,306 
202759,123 
202858,720 
202958,309 
203054,908 
2031 and thereafter302,541 
Total$594,907 
Business Combination, Intangible Asset, Acquired, Finite-Lived
During the fiscal year ended December 27, 2025, the Company recorded additions to other intangible assets of $150.0 million and $1.8 million related to the Basler and Dortmund Fab acquisitions, respectively, the components of which were as follows:
 2025
(in thousands, except weighted average useful life)Weighted Average
Useful Life (Years)		Amount
Basler
Patents, developed technology6.0$15,000 
Customer relationships, trademarks, and tradenames13.6135,000 
$150,000 
Dortmund Fab
Customer relationships, trademarks, and tradenames5.0$1,800 
v3.25.4
Accrued Liabilities (Tables)
 12 Months Ended
Dec. 27, 2025
Payables and Accruals [Abstract]  
Schedule of components of accrued liabilities
The components of accrued liabilities at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)20252024
Employee-related liabilities$114,662 $67,639 
Current lease liability11,435 13,900 
Deferred revenue11,215 1,557 
Other non-income taxes7,960 7,022 
Interest7,069 8,131 
Professional services6,629 6,613 
Restructuring liability6,014 4,624 
Other customer reserves2,874 3,450 
Current benefit liability1,680 1,514 
Current hedge liability— 4,067 
Other29,733 29,759 
Total$199,271 $148,276 
v3.25.4
Lease Commitments (Tables)
 12 Months Ended
Dec. 27, 2025
Leases [Abstract]  
Schedule of Supplemental balance sheet information related to leases
The following table presents the classification of right of use assets and lease liabilities as of December 27, 2025 and December 28, 2024:
Fiscal Year Ended

(in thousands)		Consolidated Balance Sheet ClassificationDecember 27, 2025December 28, 2024
Operating Leases
Right of use assets - operating leaseRight of use lease assets$85,318 $71,513 
Current operating lease liabilitiesAccrued liabilities11,347 13,626 
Non-current operating lease liabilitiesNon-current lease liabilities71,664 60,558 
Total operating lease liabilities$83,011 $74,184 
Finance Leases
Right of use assets - finance leaseRight of use lease assets$945 $698 
Current finance lease liabilitiesAccrued liabilities88 274 
Non-current finance lease liabilitiesNon-current lease liabilities101 1 
Total finance lease liabilities$189 $275 
Schedule of Components of lease expense and supplemental cash flow information
The following table represents the lease costs for 2025, 2024, and 2023:
Fiscal Year Ended

(in thousands)		Consolidated Statements of Net (Loss) Income ClassificationDecember 27, 2025December 28, 2024December 30, 2023
Operating lease expensesCost of sales, Selling, general, and administrative expenses$18,906 $17,310 $15,817 
Finance lease:
Finance lease expensesCost of sales107 96 219 
Interest on lease liabilitiesOther (income) expense, net9 8 19 
Short-term lease expensesCost of sales, Selling, general, and administrative expenses758 1,170 1,229 
Variable lease expensesCost of sales, Selling, general, and administrative expenses1,407 1,151 1,034 
Total lease costsCost of sales, Selling, general, and administrative expenses$21,187 $19,735 $18,318 
Fiscal Year Ended
December 27, 2025December 28, 2024
Weighted-average remaining lease term (years)
Operating leases7.638.67
Finance leases1.561.00
Weighted-average discount rate
Operating leases5.07 %5.39 %
Finance leases5.30 %2.00 %
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow - payments on operating leases$(19,848)$(13,258)$(14,518)
Operating cash flow - interest payments on finance leases(9)(8)(19)
Financing cash flow - payments on finance lease obligations(377)(280)(1,164)
Leased assets obtained in exchange of new lease obligations, including leases acquired:
Operating leases$21,895 $26,785 $16,689 
Finance leases269 — — 
Schedule of Maturities of operating lease liabilities
Maturity of lease liabilities as of December 27, 2025
(in thousands)
Operating LeasesFinance Leases
2026$15,282 $94 
202714,481 97 
202813,681 4 
202913,031 4 
203010,583 — 
2031 and thereafter35,091 — 
Total lease payments$102,149 $199 
Less: Imputed interest(19,138)(10)
Present value of lease liabilities$83,011 $189 
Schedule of Maturities of finance lease liabilities
Maturity of lease liabilities as of December 27, 2025
(in thousands)
Operating LeasesFinance Leases
2026$15,282 $94 
202714,481 97 
202813,681 4 
202913,031 4 
203010,583 — 
2031 and thereafter35,091 — 
Total lease payments$102,149 $199 
Less: Imputed interest(19,138)(10)
Present value of lease liabilities$83,011 $189 
v3.25.4
Restructuring, Impairment, and Other Charges (Tables)
 12 Months Ended
Dec. 27, 2025
Restructuring and Related Activities [Abstract]  
Schedule of restructuring, impairment and other charges
The Company recorded restructuring, impairment, and other charges for fiscal years 2025, 2024, and 2023 as follows:
Fiscal Year Ended December 27, 2025
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$8,708 $7,542 $992 $17,242 
Other restructuring charges639 116 1 756 
   Total restructuring charges9,347 7,658 993 17,998 
Impairment 301,521 531 — 302,052 
   Total$310,868 $8,189 $993 $320,050 

Fiscal Year Ended December 28, 2024
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$8,748 $4,620 $583 $13,951 
Other restructuring charges310 543 122 975 
   Total restructuring charges9,058 5,163 705 14,926 
Impairment — 9,549 83,966 93,515 
   Total$9,058 $14,712 $84,671 $108,441 
Fiscal Year Ended December 30, 2023
(in thousands)ElectronicsTransportationIndustrialTotal
Employee terminations$4,162 $3,649 $894 $8,705 
Other restructuring charges342 976 1,625 2,943 
   Total restructuring charges4,504 4,625 2,519 11,648 
Impairment 111 3,870 872 4,853 
   Total$4,615 $8,495 $3,391 $16,501 
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 27, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
The carrying amounts of debt at December 27, 2025 and December 28, 2024 were as follows:
 
(in thousands)
20252024
Revolving credit facility$100,000 $100,000 
Term loan266,250 281,250 
Euro Senior Notes, Series B due 2028111,977 98,928 
U.S. Senior Notes, Series A due 2025— 50,000 
U.S. Senior Notes, Series B due 2027100,000 100,000 
U.S. Senior Notes, Series B due 2030125,000 125,000 
U.S. Senior Notes, due 2032100,000 100,000 
Other1,233 3,702 
Unamortized debt issuance costs(1,833)(2,766)
Total debt802,627 856,114 
Less: Current maturities(96,233)(67,612)
Total long-term debt$706,394 $788,502 
Schedule of maturities of long-term debt
Scheduled maturities of the Company’s long-term debt for each of the five years succeeding December 27, 2025 and thereafter are summarized as follows:
 
(in thousands)
Scheduled
Maturities
2026$96,233 
2027371,250 
2028111,977 
2029— 
2030125,000 
2031 and thereafter100,000 
 $804,460 
v3.25.4
Fair Value of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 27, 2025
Fair Value Disclosures [Abstract]  
Schedule of derivative instruments The trade
entry date, maturity date, weighted-average floor, and weighted-average ceiling for each collar trade was as follows:

Trade Entry DateTrade Maturity DateWeighted-Average FloorWeighted-Average Ceiling
July 3, 2024August 29, 202518.000019.4350
August 5, 2024September 29, 202519.655021.0000
September 3, 2024November 3, 202520.082021.7571
September 30, 2024November 26, 202519.870021.3650
November 4, 2024January 2, 202620.120021.6900
December 3, 2024February 2, 202620.425022.0377
January 2, 2025March 2, 202620.800021.9082
February 6, 2025March 30, 202620.530022.0000
April 9, 2025June 1, 202620.970022.2355
May 1, 2025June 29, 202619.694020.9700
June 4, 2025August 3, 202619.310020.3437
July 2, 2025August 31, 202618.850019.8025
August 5, 2025September 29, 202618.850019.8000
September 2, 2025November 2, 202618.810019.8347
September 30, 2025November 30, 202618.420019.3700
November 4, 2025January 4, 202718.720019.7000
November 26, 2025February 2, 202718.430019.4852
Schedule of derivative instruments in statement of financial position, fair value
As of December 27, 2025 and December 28, 2024, the fair values of our derivative financial instrument and their classifications on the Consolidated Balance Sheets were as follows:

Fiscal Year Ended

(in thousands)		Consolidated Balance Sheets ClassificationDecember 27, 2025December 28, 2024
Derivatives designated as hedging instruments
Interest rate swap agreement:
Designated as cash flow hedgePrepaid expenses and other current assets$1,162 $2,482 
Other long-term assets382 3,716 
Zero cost collar agreement
Designated as cash flow hedgePrepaid expenses and other current assets$6,816 $22 
Accrued liabilities— 4,067 
Other long-term assets3 2 
Schedule of derivative instruments, gain (loss)
The pre-tax (gains) losses recognized on derivative financial instruments in the Consolidated Statements of Net (Loss) Income for the fiscal year ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:
Fiscal Year Ended
(in thousands)Classification of (Gains) Losses Recognized in the Consolidated Statements of Net (Loss) IncomeDecember 27, 2025December 28, 2024December 30, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreementInterest expense, net$(2,987)$(4,826)$(4,551)
Zero cost collar agreementCost of sales(2,791)1,766 — 
Zero cost collar agreementSelling, general, and administrative expenses(219)97 — 
Derivatives not designated as hedging instruments
Foreign exchange forward contractForeign exchange gain$— $— $(52)

The pre-tax losses (gains) recognized on derivative financial instruments in the Consolidated Statements of Comprehensive Income for the fiscal year ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows:
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Derivatives designated as cash flow hedges
Interest rate swap agreement$4,654 $(346)$2,827 
Zero cost collar agreement(10,787)3,534 — 
Schedule of fair value, assets measured on recurring basis
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 27, 2025:
 Fair Value Measurements Using
(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs
(Level 3)		Total
Cash equivalents$465,915 $— $— $465,915 
Investments in equity securities7,676 — — 7,676 
Mutual funds25,730 — — 25,730 
Total$499,321 $— $— $499,321 
 
The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 28, 2024:
 Fair Value Measurements Using
(in thousands)
Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs
(Level 3)		Total
Cash equivalents$658,491 $— $— $658,491 
Investments in equity securities10,182 — — 10,182 
Mutual funds23,268 — — 23,268 
Total:$691,941 $— $— $691,941 
Schedule of fair value, by balance sheet grouping
The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series B and USD Senior Notes, Series A and Series B, as of December 27, 2025 and December 28, 2024 were as follows:
 
 December 27, 2025December 28, 2024
(in thousands)
Carrying
Value		Estimated
Fair Value		Carrying
Value		Estimated
Fair Value
Euro Senior Notes, Series B due 2028$111,977 $106,908 $98,928 $91,741 
USD Senior Notes, Series A due 2025— — 50,000 49,919 
USD Senior Notes, Series B due 2027100,000 99,152 100,000 96,623 
USD Senior Notes, Series B due 2030125,000 120,076 125,000 114,786 
USD Senior Notes, due 2032100,000 95,587 100,000 91,175 
Schedule of goodwill and intangible assets
2025 goodwill impairment charges were the result of measuring a reporting unit at fair value on a nonrecurring basis as shown below:

(in thousands)For Fiscal Year Ended December 27, 2025December 27, 2025
Impairment
Charge		Estimated Fair Value Measurement (Level 3)Net Carrying Value
Electronics-Semiconductor reporting unit
Goodwill$301,185 $238,057 $238,486 
2024 goodwill and intangible assets impairment charges were the result of measuring a reporting unit at fair value on a nonrecurring basis as shown below:
(in thousands)For Fiscal Year Ended December 28, 2024December 28, 2024
Impairment
Charge		Estimated Fair Value Measurement (Level 3)Net Carrying Value
Industrial Controls and Sensors reporting unit
Customer relationships, trademarks, and tradenames$40,641 $6,620 $7,142 
Patents, licenses and software6,938 950 1,065 
Intangible assets, net of amortization$47,579 $7,570 $8,207 
Goodwill$36,147 $119,361 $115,159 
Automotive Sensors reporting unit
Goodwill$8,616 $— $— 
v3.25.4
Benefit Plans (Tables)
 12 Months Ended
Dec. 27, 2025
Retirement Benefits [Abstract]  
Schedule of defined benefit plans disclosures
Benefit plan related information is as follows for the years 2025 and 2024:
 
(in thousands)
20252024
Change in benefit obligation:  
Benefit obligation at beginning of year$70,682 $73,521 
Service cost3,020 3,060 
Interest cost4,013 3,873 
Net actuarial loss1,471 501 
Benefits paid from the plan assets(1,984)(2,037)
Benefits paid directly by the Company(2,349)(2,042)
Settlements(868)(1,248)
Acquisitions1,725 — 
Effect of exchange rate movements6,075 (4,946)
Benefit obligation at end of year$81,785 $70,682 
Change in plan assets at fair value:
Fair value of plan assets at beginning of year$39,338 $37,696 
Actual gain (loss) on plan assets983 (529)
Employer contributions1,415 5,376 
Benefits paid from the plan assets(1,984)(2,037)
Settlements(509)— 
Effect of exchange rate movements2,370 (1,168)
Fair value of plan assets at end of year41,613 39,338 
Net amount unfunded status$(40,172)$(31,344)
Schedule of amounts recognized in balance sheet
Amounts recognized in the Consolidated Balance Sheets as of December 27, 2025 and December 28, 2024 consisted of the following:
 
(in thousands)
20252024
Amounts recognized in the Consolidated Balance Sheets consist of:  
Non-current assets$241 $6 
Current benefit liability(1,680)(1,514)
Non-current benefit liability(38,733)(29,836)
Net liability recognized$(40,172)$(31,344)

The amounts included in accumulated other comprehensive loss in the Consolidated Balance Sheets, excluding tax effects that have not yet been recognized as components of net periodic benefit costs as of December 27, 2025 and December 28, 2024 were as follows:

(in thousands)
20252024
Net actuarial loss$9,328 $6,679 
Prior service cost1,249 1,304 
Total$10,577 $7,983 
Schedule of defined benefit plan amounts recognized in other comprehensive (loss) income
The pre-tax amounts recognized in other comprehensive (loss) income in 2025 and 2024 were as follows:
 20252024
(in thousands)
Amortization of: 
Prior service cost$93 $93 
Net actuarial loss309 81 
Amount arising during the period:
Net actuarial loss(2,028)(3,099)
Net curtailment and settlement loss12 299 
Foreign currency adjustments(980)265 
Total$(2,594)$(2,361)
Schedule of net benefit costs
The components of net periodic benefit costs for the fiscal years 2025, 2024, and 2023 were as follows: 
   
(in thousands)
202520242023
Components of net periodic benefit cost:   
Service cost$3,020 $3,060 $2,774 
Interest cost4,013 3,873 3,795 
Expected return on plan assets(1,899)(2,069)(1,879)
Amortization of prior service and net actuarial loss402 174 45 
Net periodic benefit cost5,536 5,038 4,735 
Net settlement loss (gain)12 299 (266)
Total expense for the year$5,548 $5,337 $4,469 
Schedule of assumptions used
Weighted average assumptions used to determine net periodic benefit cost for the fiscal years 2025, 2024, and 2023 were as follows:
 202520242023
Discount rate5.6 %5.6 %5.8 %
Expected return on plan assets4.7 %5.5 %5.2 %
Compensation increase rate4.8 %4.8 %4.7 %
Weighted average assumptions used to determine benefit obligations as of December 27, 2025, December 28, 2024 and December 30, 2023 were as follows:
 
 202520242023
Discount rate6.1 %5.6 %5.6 %
Compensation increase rate4.6 %4.8 %4.8 %
Schedule of net funded status
The following table provides a summary of under-funded or unfunded pension benefit plans with projected benefit obligations in excess of plan assets as of December 27, 2025 and December 28, 2024:
 
(in thousands)
20252024
Projected benefit obligation$52,927 $47,016 
Fair value of plan assets12,491 15,666 
Schedule of expected benefit payments
The following table provides a summary of under-funded or unfunded pension benefit plans with accumulated benefit obligations in excess of plan assets as of December 27, 2025 and December 28, 2024:
 
(in thousands)
20252024
Accumulated benefit obligation$29,239 $28,028 
Fair value of plan assets2,440 5,419 
Expected benefit payments to be paid to participants for the fiscal year ending are as follows:
(in thousands)Expected Benefit Payments
2026$4,626 
20274,283 
20285,035 
20295,562 
20306,729 
2031-2035 and thereafter43,340 
Schedule of allocation of plan assets Pension plan assets were invested as follows, and were not materially different from the target asset allocation:
 
 Asset Allocation
 20252024
Cash and cash equivalents, and other2 %1 %
Equity securities6 %7 %
Fixed income securities32 %32 %
Bulk annuity contract60 %60 %
 100 %100 %
Schedule of pension plan assets measured at fair value
The following table presents the Company’s pension plan assets measured at fair value by classification within the fair value hierarchy as of December 27, 2025:
 Fair Value Measurements Using
(in thousands)
Level 1Level 2Level 3NAVTotal
Insurance contracts and other$— $— $154 $— $154 
Cash and cash equivalents808 — — — 808 
Equities2,635 — — — 2,635 
Fixed income7,242 — — 5,787 13,029 
Bulk annuity contract— — 24,987 — 24,987 
Total pension plan assets$10,685 $— $25,141 $5,787 $41,613 
 
The following table presents the Company’s pension plan assets measured at fair value by classification within the fair value hierarchy as of December 28, 2024:
 
 Fair Value Measurements Using
(in thousands)
Level 1Level 2Level 3NAVTotal
Insurance contracts and other$— $— $131 $— $131 
Cash and cash equivalents422 — — — 422 
Equities2,921 — — — 2,921 
Fixed income7,224 — — 5,198 12,422 
Bulk annuity contract— — 23,442 — 23,442 
Total pension plan assets$10,567 $— $23,573 $5,198 $39,338 
Schedule of effect of significant unobservable inputs, changes in plan assets
The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during 2025 and 2024 due to the following:
(in thousands)
Level 3
Balance at December 30, 2023$133 
Level 3 assets transferred in from Level 1 and 2 assets valued at NAV:
Bulk annuity contract added during the year23,442 
Employer contribution2 
Actual return on assets4 
Foreign currency adjustments(8)
Balance at December 28, 2024$23,573 
Level 3 assets transferred in from Level 1 and 2 assets valued at NAV:
Employer contribution125 
Actual return on assets1,059 
Benefits paid from the plan assets(1,392)
Foreign currency adjustments1,776 
Balance at December 27, 2025$25,141 
v3.25.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 27, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of share-based compensation, stock options, activity
The following table provides a reconciliation of outstanding stock options for the fiscal year ended December 27, 2025.
 Shares Under
Option		Weighted
Average
Price		Weighted
Average
Remaining
Contract Life
(Years)		Aggregate
Intrinsic
Value
(000’s)
Outstanding December 28, 2024629,812 $200.07 
Granted— N/A
Exercised(164,064)173.67 
Forfeited(7,712)236.20 
Outstanding December 27, 2025458,036 208.92 3.1$24,677 
Exercisable December 27, 2025416,903 206.38 2.923,550 
Schedule of nonvested restricted stock units activity
The following table provides a reconciliation of non-vested restricted share and share unit awards ("RSU") for the fiscal year ended December 27, 2025.
 SharesWeighted Average
Grant-Date Fair Value
Nonvested December 28, 2024186,013 $229.56 
Granted175,235 186.04 
Vested(98,705)229.94 
Forfeited(35,652)212.78 
Nonvested December 27, 2025226,891 198.43 
The following table provides a reconciliation of non-vested performance share unit awards ("PSU") for the fiscal year ended December 27, 2025.
 SharesWeighted Average
Grant-Date Fair Value
Nonvested December 28, 2024— N/A
Granted75,067 319.63 
Vested— N/A
Forfeited(2,400)252.93 
Nonvested December 27, 202572,667 321.83 
Schedule of share-based payment award, stock options, valuation assumptions
The Company uses the Monte Carlo valuation model to determine the fair value of PSU shares granted. The weighted average fair value of and related assumptions for PSU shares granted are as follows:
 202520242023
Weighted average fair value of options granted$319.63N/AN/A
Assumptions:
Risk-free interest rate4.01%N/AN/A
Expected dividend yield—%N/AN/A
Expected stock price volatility33.16%N/AN/A
Expected correlation24.29%N/AN/A
The Company uses the Black-Scholes option valuation model to determine the fair value of stock option awards granted. The weighted average fair value of and related assumptions for options granted are as follows:
 202520242023
Weighted average fair value of options grantedN/A$75.25$77.40
Assumptions:
Risk-free interest rateN/A4.71%3.67%
Expected dividend yieldN/A1.13%1.00%
Expected stock price volatilityN/A34.9%36.0%
Expected life of options (years)N/A4.44.4
v3.25.4
Other Comprehensive (Loss) Income (Tables)
 12 Months Ended
Dec. 27, 2025
Equity [Abstract]  
Schedule of components of comprehensive (loss) income
Changes in other comprehensive (loss) income by component for fiscal years 2025, 2024, and 2023 were as follows:
Fiscal Year Ended
December 27, 2025December 28, 2024December 30, 2023
(in thousands)Pre-taxTaxNet of taxPre-taxTaxNet of taxPre-taxTaxNet of tax
Defined benefit pension plan and other adjustments$(2,154)$(24)$(2,178)$(2,947)$51 $(2,896)$(5,911)$491 $(5,420)
Cash flow hedges6,134 697 6,831 (3,188)41 (3,147)(2,827)679 (2,148)
Foreign currency translation adjustments (1)139,430 (3,105)136,325 (86,273)1,772 (84,501)48,227 (712)47,515 
Total change in other comprehensive income (loss)$143,410 $(2,432)$140,978 $(92,408)$1,864 $(90,544)$39,489 $458 $39,947 

(1) The tax shown above within the foreign currency translation adjustments is the U.S. tax associated with the foreign currency translation adjustments of earnings of non-U.S. subsidiaries which have been previously taxed in the U.S. and are not permanently reinvested.
Schedule of accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Loss (“AOCI”): The following table sets forth the changes in the components of AOCI by component for fiscal years 2025, 2024, and 2023:
(in thousands)
Pension and postretirement liability and reclassification adjustments Cash flow hedgesForeign currency translation adjustmentsAccumulated other comprehensive (loss) income
Balance at December 31, 2022$(2,193)$6,596 $(100,167)$(95,764)
2023 activity(5,420)(2,148)47,515 39,947 
Balance at December 30, 2023$(7,613)$4,448 $(52,652)$(55,817)
2024 activity(2,896)(3,147)(84,501)(90,544)
Balance at December 28, 2024$(10,509)$1,301 $(137,153)$(146,361)
 2025 activity(2,178)6,831 136,325 140,978 
Balance at December 27, 2025$(12,687)$8,132 $(828)$(5,383)
Schedule of reclassification out of accumulated other comprehensive income
Amounts reclassified from accumulated other comprehensive loss to earnings for fiscal years 2025, 2024, and 2023 were as follows:
Fiscal Year Ended
(in thousands)December 27, 2025December 28, 2024December 30, 2023
Pension and postemployment and other plans:
Amortization of prior service, net actuarial loss (gain), and other$1,941 $3,441 $(43)
Net settlement loss and accelerated prior service costs365 299 247 
Total$2,306 $3,740 $204 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 27, 2025
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense (benefit)
Domestic and foreign income (loss) before income taxes is as follows:
(in thousands)
202520242023
Domestic$(94,209)$3,151 $40,571 
Foreign97,816 148,712 288,027 
Income before income taxes$3,607 $151,863 $328,598 
Federal, state, and foreign income tax expense (benefit) consists of the following:
 
(in thousands)
202520242023
Current:   
Federal$3,875 $(5,881)$8,188 
State3,449 1,826 2,880 
Foreign64,644 58,551 57,999 
Subtotal$71,968 $54,496 $69,067 
Deferred:
Federal (including State for 2024 and 2023)$1,304 $4,091 $1,751 
State$(2,070)$— $— 
Foreign4,105 (6,914)(1,705)
Subtotal$3,339 $(2,823)$46 
Provision for income taxes$75,307 $51,673 $69,113 
Schedule of effective income tax rate reconciliation
As described above, the Company elected to prospectively adopt the guidance in ASU 2023-09. In accordance with the guidance in ASU 2023-09, for the ear ended December 27, 2025, a reconciliation between income taxes computed on income before income taxes at the federal statutory rate and the provision for income taxes is provided below:
(in thousands)

2025ETR%
Tax expense at statutory rate of 21%$757 21.0 %
Effect of Cross-Border Tax Laws:US Tax on Non-US income (GILTI)4,738 131.4 %
US Tax on Non-US income (Subpart F)6,760 187.4 %
Other(2,503)(69.4)%
Tax Credits:Foreign Tax Credits(4,301)(119.2)%
Other(1,106)(30.7)%
Nontaxable or Non-deductible items:Non-deductible goodwill impairment 23,028 638.4 %
Non-deductible expenses3,378 93.7 %
Other397 11.0 %
Valuation Allowance409 11.3 %
Other138 3.8 %
State Taxes, Net of Federal Tax Effect (a)1,089 30.2 %
Foreign Tax Effects:
ChinaWithholding Taxes6,129 169.9 %
Other(2,895)(80.2)%
GermanyNon-U.S. income tax rate differential10,079 279.4 %
Non-deductible goodwill impairment 17,031 472.2 %
Valuation allowance26,839 744.1 %
German Trade Tax(13,740)(380.9)%
Other(674)(18.7)%
KoreaWithholding Taxes4,752 131.7 %
Other611 17.0 %
MexicoNon-U.S. income tax rate differential (b)(4,604)(127.6)%
NetherlandsValuation allowance6,990 193.8 %
Other(462)(12.8)%
PhilippinesNon-U.S. income tax rate differential (c)(4,659)(129.2)%
Withholding Taxes4,712 130.6 %
Other288 8.1 %
SingaporeNon-U.S. income tax rate differential(3,906)(108.3)%
Nontaxable Income(5,100)(141.4)%
Other(346)(9.6)%
United KingdomNon-deductible goodwill impairment 7,018 194.6 %
Other57 1.5 %
Other Foreign Jurisdictions230 6.2 %
Worldwide Changes in Unrecognized Tax Benefits(5,827)(161.5)%
Provision for income taxes75,307 2,087.8 %

(a) In 2025, state and local income taxes in Illinois and Minnesota comprise the majority of the state and local income taxes, net of federal effect category.
(b) The Company operates certain manufacturing activities in Mexico under a Maquiladora structure. The non-U.S. income tax rate differential represents the tax benefits associated with the Maquiladora safe harbor as defined under Mexican tax law.
(c) The Company conducts certain operations in the Philippines under the Philippine Economic Zone Authority ("PEZA") regime. The non-U.S. income tax rate differential represents the preferential tax rate benefits associated with the PEZA regime as defined under Philippines tax law.
For the years 2024 and 2023, in accordance with the guidance in effect prior to ASU 2023-09, a reconciliation between income taxes computed on income before income taxes at the federal statutory rate and the provision for income taxes is provided below:
(in thousands)
20242023
Tax expense at statutory rate of 21%$31,891 $69,006 
Non-U.S. income tax rate differential(1,130)(25,623)
Non-U.S. losses and expenses with no tax benefit9,401 11,261 
Tax on unremitted earnings6,616 6,394 
Non-deductible goodwill impairment5,810 — 
Net impact associated with U.S. tax on non-U.S. income, including GILTI5,809 4,739 
State and local taxes, net of federal tax benefit2,533 1,503 
Certain changes in unrecognized tax benefits and related accrued interest(8,692)(172)
Other, net(565)2,005 
Provision for income taxes$51,673 $69,113 
Schedule of deferred tax assets and liabilities Significant components of the Company’s deferred tax assets and liabilities at December 27, 2025 and December 28, 2024, were as follows:
 
(in thousands)20252024
Deferred tax assets:  
Net operating loss carryforwards$66,851 $46,263 
Interest expense carryforwards47,581 34,800 
Accrued expenses and reserves42,154 32,336 
Lease liabilities16,559 13,016 
Excess of tax basis over the book basis for intangible assets and goodwill16,016 — 
Capitalized expenses11,032 18,939 
U.S. foreign tax credit carryforwards3,772 3,490 
U.S. research and other general business tax credit carryforwards1,222 1,252 
Other— 196 
Deferred tax assets205,187 150,292 
Less: Valuation allowance(97,557)(55,468)
Total deferred tax assets107,630 94,824 
Deferred tax liabilities:
Excess of book basis over the tax basis for intangible assets and goodwill134,666 133,701 
Excess of book basis over the tax basis for property, plant, and equipment34,448 24,238 
Right of use lease assets17,289 12,906 
Tax on unremitted earnings16,311 14,612 
Other1,996 — 
Total deferred tax liabilities204,710 185,457 
Net deferred tax liabilities$97,080 $90,633 
Schedule of unrecognized tax benefits roll forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 27, 2025, December 28, 2024, and December 30, 2023 is as follows:
 
(in thousands)
Unrecognized Tax Benefits
Balance at December 30, 2023$31,449 
Additions for tax positions taken in the current year1,251 
Additions for tax positions taken in the prior year375 
Decreases for lapses in statute of limitations(7,650)
Other574 
Balance at December 28, 2024$25,999 
Additions for tax positions taken in the current year1,695 
Additions for tax positions taken in the prior year170 
Decreases for lapses in statute of limitations(5,850)
Decreases for settlements(563)
Other4,356 
Balance at December 27, 2025$25,807 
Schedule of Cash Flow, Supplemental Disclosures In accordance with the guidance in ASU 2023-09, for the year ended December 27, 2025, a summary of income taxes paid net of refunds by jurisdiction is provided below:
Jurisdiction2025
Federal$10,154 
State1,792 
Foreign
China25,016 
Singapore12,581 
Philippines8,141 
Mexico5,961 
Korea5,853 
Other$12,103 
Total income taxes paid net of refunds received$81,601 
v3.25.4
(Loss) Earnings Per Share (Tables)
 12 Months Ended
Dec. 27, 2025
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted
The following table sets forth the computation of basic and diluted (loss) earnings per share:
 
(in thousands, except per share amounts)
202520242023
Numerator:   
Net (loss) income as reported$(71,700)$100,190 $259,485 
Denominator:
Weighted average shares outstanding
Basic24,817 24,821 24,854 
Effect of dilutive securities— 218 248 
Diluted24,817 25,039 25,102 
(Loss) Earnings Per Share:
Basic (loss) earnings per share$(2.89)$4.04 $10.44 
Diluted (loss) earnings per share$(2.89)$4.00 $10.34 
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract]  
Schedule of segment reporting information, by segment
The Company has provided this segment information for all comparable prior periods. Segment information is summarized as follows:
 
(in thousands)
202520242023
Net sales   
Electronics$1,345,522 $1,186,773 $1,350,426 
Transportation676,377 672,434 678,278 
Industrial364,395 331,561 333,953 
Total net sales$2,386,294 $2,190,768 $2,362,657 
Other segment expenses
Electronics$1,125,456 $1,016,880 $1,049,845 
Transportation591,597 613,856 644,644 
Industrial305,372 289,230 279,153 
Total other segment expenses$2,022,425 $1,919,966 $1,973,642 
Segment operating income
Electronics$220,066 $169,893 $300,581 
Transportation84,780 58,578 33,634 
Industrial59,023 42,331 54,800 
Total segment operating income363,869 270,802 389,015 
Other(a)
(326,341)(112,022)(28,153)
Total operating income37,528 158,780 360,862 
Interest expense34,303 38,717 39,866 
Foreign exchange loss (gain)16,612 (9,230)12,299 
Other income, net(16,994)(22,570)(19,901)
Income before income taxes$3,607 $151,863 $328,598 

(a) Included in “Other” Operating income for 2025 was $302.1 million of non-cash impairment charges, which included a $301.2 million non-cash goodwill impairment charge associated with the Electronics-Semiconductor reporting unit within the Electronics segment. In addition, the Company recognized impairment charges of $0.5 million and $0.4 million related to certain machinery and equipment in the commercial vehicle business within the Transportation segment and the electronics products business within the Electronics segment, respectively. The Company also recognized total restructuring charges of $18.0 million, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions in the power semiconductor business within the Electronics segment and the reorganization of certain manufacturing, selling and administrative functions in the commercial vehicle business and automotive sensors business within the Transportation segment. See Note 8, Restructuring, Impairment and Other Charges, for further discussion. Also included in "Other" Operating income was $5.4 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, $0.6 million of purchase accounting inventory adjustments related to the Basler and Dortmund Fab acquisitions, and a $0.3 million loss related to the sale of the Marine business within the Transportation segment.

Included in “Other” Operating income for 2024 was $93.5 million of non-cash impairment charges, which included $47.8 million for the impairment of intangible assets primarily related to certain acquired customer relationships, developed technology, and tradename in the Industrial Controls and Sensors reporting unit within the Industrial segment, and $36.1 million and $8.6 million of non-cash goodwill impairment charges associated with the Industrial Controls and Sensors reporting unit within the Industrial segment and the Automotive Sensors reporting unit within the Transportation segment, respectively. The remaining impairment charges included $0.2 million for patents and customer relationships related to the exit of a small business in China within the Industrial segment. In addition, during the first quarter of 2024, the Company recognized a $0.9 million impairment charge related to certain machinery and equipment in the commercial vehicle business within the Transportation segment. The Company also recognized total restructuring charges of $14.9 million, primarily for employee termination costs related to the reorganization of certain manufacturing, selling and administrative functions in the semiconductor business within the Electronics segment and the reorganization of certain selling and administrative functions in the commercial vehicle business within the Transportation segment. See Note 8, Restructuring, Impairment and Other Charges,
for further discussion. Also included in "Other" Operating income was $5.1 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, a gain of $1.0 million for the sale of two buildings within the Transportation segment, and a gain of $0.5 million recorded for the sale of a land use right within the Electronics segment.
Included in “Other” Operating income for 2023 was $11.7 million of legal and professional fees and other integration expenses related to completed and contemplated acquisitions and $11.6 million of restructuring, impairment and other charges, primarily related to employee termination costs. During 2023, the Company recorded a $3.9 million impairment charge related to the land and building in the commercial vehicle business within the Transportation segment, $0.9 million impairment charge substantially related to certain patents in a business within the Industrial segment, and a $0.1 million impairment related to certain machinery and equipment in the semiconductor business within the Electronics segment. See Note 8, Restructuring, Impairment and Other Charges, for further discussion.
The Company’s depreciation and amortization expenses by segment for the fiscal years 2025, 2024, and 2023 were as follows:

(in thousands)
202520242023
Depreciation
Electronics$47,599 $40,456 $39,461 
Transportation21,143 22,117 26,732 
Industrial6,129 5,752 5,441 
Total depreciation $74,871 $68,325 $71,634 
Amortization
Electronics$40,350 $39,362 $39,883 
Transportation13,540 13,518 15,782 
Industrial5,903 9,247 10,129 
Total amortization$59,793 $62,127 $65,794 
Schedule of disclosure on geographic areas, long-lived assets in individual foreign countries by country
The Company’s net sales classified according to the country where the customer is located, net property, plant, and equipment and additions to net property, plant, and equipment by country for the fiscal years 2025, 2024, and 2023 were as follows:
 
(in thousands)
202520242023
Net sales   
U.S.$830,293 $800,331 $820,735 
China571,587 506,643 546,786 
Other countries(a)
984,414 883,794 995,136 
Total net sales$2,386,294 $2,190,768 $2,362,657 
Long-lived assets
U.S.$95,619 $74,698 $73,126 
China130,047 132,504 139,736 
Mexico83,478 89,558 102,218 
Germany110,246 58,758 47,217 
Philippines61,591 66,174 73,217 
Other countries59,659 55,376 57,639 
Total long-lived assets$540,640 $477,068 $493,153 
Additions to long-lived assets
U.S.$10,694 $19,081 $9,502 
China13,371 16,045 32,805 
Mexico6,381 10,181 13,920 
Germany20,626 19,972 10,279 
Philippines5,716 4,383 6,156 
Other countries8,462 8,751 10,992 
Total additions to long-lived assets$65,250 $78,413 $83,654 

(a)Each country included in other countries are less than 10% of net sales.
v3.25.4
Related Party Disclosures (Tables)
 12 Months Ended
Dec. 27, 2025
Related Party Transactions [Abstract]  
Schedule of related party transactions
Fiscal Year Ended
December 27, 2025December 28, 2024
(in millions)PowersemEB Tech ATECPowersemEB Tech ATEC
Sales to related party$1.2 $— $— $1.5 $— $— 
Purchase of material/services from related party2.2 0.9 9.0 3.8 0.7 5.7 
Accounts payable balance$0.1 $0.1 $2.1 $0.7 $0.1 $0.7 
v3.25.4
Summary of Significant Accounting Policies and Other Information - Narrative (Details)
customer in Thousands, associate in Thousands, € in Millions
 3 Months Ended 12 Months Ended
Dec. 27, 2025
USD ($)
associate
country
Dec. 28, 2024
USD ($)
Mar. 30, 2024
USD ($)
Dec. 27, 2025
USD ($)
associate
customer
country
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Dec. 27, 2025
EUR (€)
associate
country
Sep. 27, 2025
Dec. 28, 2024
EUR (€)
Summary of Significant Accounting Policies and Other Information                  
Countries where product is used (country) | country 20     20     20    
Global associates (associate) | associate 17     17     17    
Number of customers (over) | customer       100          
Cost of sales       $ 1,480,251,000 $ 1,403,226,000 $ 1,462,416,000      
Inventory $ 416,472,000 $ 416,273,000   416,472,000 416,273,000        
Equity investment 7,676,000 10,182,000   7,676,000 10,182,000        
Gain (loss) from equity method investments       1,000,000.0 600,000        
Equity method investments 12,300,000 13,100,000   12,300,000 13,100,000        
Goodwill impairment       301,185,000 44,763,000 0      
Goodwill 1,211,411,000 1,228,502,000   1,211,411,000 1,228,502,000 1,309,998,000      
Impairment of intangible assets         47,800,000        
Allowance for credit losses 2,500,000 1,600,000   2,500,000 1,600,000        
Advertising expense       4,000,000.0 5,000,000.0 4,000,000.0      
Foreign exchange loss (gain)       16,612,000 (9,230,000) 12,299,000      
Loss contingency accrual 2,200,000 2,300,000   2,200,000 2,300,000   € 1.8   € 2.2
Interest inc       26,300,000 $ 28,000,000.0 18,900,000      
Toll charge, noncurrent       8,200,000          
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]         Restructuring, impairment, and other charges        
Adjustments                  
Summary of Significant Accounting Policies and Other Information                  
Cost of sales         $ 12,300,000        
Inventory   (12,300,000)     (12,300,000)        
Transportation Segment                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment       0 8,616,000        
Goodwill 197,399,000 191,641,000   197,399,000 191,641,000 203,111,000      
Impairment of long lived assets to be disposed of     $ 900,000 500,000          
Industrial                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment       0 36,147,000        
Goodwill 289,683,000 129,990,000   289,683,000 129,990,000 170,382,000      
Impairment of intangible assets   47,800,000       900,000      
Electronics                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment       301,185,000 0        
Goodwill 724,329,000 906,871,000   724,329,000 906,871,000 936,505,000      
Impairment of long lived assets to be disposed of       400,000          
90 days past due                  
Summary of Significant Accounting Policies and Other Information                  
Allowance for credit losses $ 9,300,000 3,800,000   9,300,000 3,800,000        
Shipping and handling cost and expenses | Selling, general, and administrative expenses                  
Summary of Significant Accounting Policies and Other Information                  
Cost of sales       $ 14,300,000 15,300,000 15,400,000      
Customer relationships                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of intangible assets         47,600,000        
Customer relationships | Transportation Segment                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of intangible assets     $ 900,000            
Customer relationships | Industrial                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of intangible assets         200,000        
Land use rights                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 50 years     50 years     50 years    
Industrial Controls                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment   36,100,000     36,147,000        
Goodwill $ 238,500,000     $ 238,500,000          
Percentage of fair value in excess of carrying value (percent)               22.00%  
Impairment of intangible assets         47,579,000        
Industrial Controls | Patents, licenses, and software                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of intangible assets         6,938,000        
Automotive Sensors                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment   8,600,000     8,616,000        
Goodwill 274,900,000     274,900,000          
Electronics – Passive Products and Sensors                  
Summary of Significant Accounting Policies and Other Information                  
Goodwill impairment $ 301,185,000     $ 301,200,000          
Percentage of fair value in excess of carrying value (percent)               87.00%  
Passenger Car Products                  
Summary of Significant Accounting Policies and Other Information                  
Percentage of fair value in excess of carrying value (percent)               153.00%  
Commercial Vehicle Products                  
Summary of Significant Accounting Policies and Other Information                  
Percentage of fair value in excess of carrying value (percent)               99.00%  
Industrial Circuit Protection                  
Summary of Significant Accounting Policies and Other Information                  
Percentage of fair value in excess of carrying value (percent)               303.00%  
Minimum                  
Summary of Significant Accounting Policies and Other Information                  
Percentage of fair value in excess of carrying value (percent) 22.00%     22.00%     22.00%    
Minimum | Customer relationships                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 3 years     3 years     3 years    
Minimum | Trademarks and tradenames                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 3 years     3 years     3 years    
Minimum | Patents, licenses, and software                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 4 years     4 years     4 years    
Minimum | Distribution network                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 4 years     4 years     4 years    
Maximum                  
Summary of Significant Accounting Policies and Other Information                  
Percentage of fair value in excess of carrying value (percent) 303.00%     303.00%     303.00%    
Maximum | Customer relationships                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 20 years     20 years     20 years    
Maximum | Trademarks and tradenames                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 20 years     20 years     20 years    
Maximum | Patents, licenses, and software                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 17 years     17 years     17 years    
Maximum | Distribution network                  
Summary of Significant Accounting Policies and Other Information                  
Finite lived intangible asset weighted average useful life (years) 10 years     10 years     10 years    
Buildings                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 35 years     35 years     35 years    
Buildings | Electronics                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of long lived assets to be disposed of           3,900,000      
Equipment | Minimum                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 3 years     3 years     3 years    
Equipment | Maximum                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 20 years     20 years     20 years    
Furniture and Fixtures                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 7 years     7 years     7 years    
Tooling                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 5 years     5 years     5 years    
Computer Equipment                  
Summary of Significant Accounting Policies and Other Information                  
Useful life (in years) 3 years     3 years     3 years    
Machinery and equipment | Electronics                  
Summary of Significant Accounting Policies and Other Information                  
Impairment of long lived assets to be disposed of           $ 100,000      
Other long-term assets                  
Summary of Significant Accounting Policies and Other Information                  
Marketable securities $ 25,700,000 23,300,000   $ 25,700,000 23,300,000        
Polytronics                  
Summary of Significant Accounting Policies and Other Information                  
Ownership percentage 6.70%     6.70%     6.70%    
Equity investment $ 7,700,000 $ 10,200,000   $ 7,700,000 $ 10,200,000   € 6.5   € 9.8
Powersem | Related Party                  
Summary of Significant Accounting Policies and Other Information                  
Ownership percentage 45.00%     45.00%     45.00%    
EB Tech | Related Party                  
Summary of Significant Accounting Policies and Other Information                  
Ownership percentage 15.00%     15.00%     15.00%    
ATEC | Related Party                  
Summary of Significant Accounting Policies and Other Information                  
Ownership percentage 24.00%     24.00%     24.00%    
v3.25.4
Summary of Significant Accounting Policies and Other Information - Cash and cash equivalents (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Accounting Policies [Abstract]        
Cash and cash equivalents $ 563,391 $ 724,924 $ 555,513  
Restricted cash included in other assets 1,713 1,513 1,610  
Total cash, cash equivalents and restricted cash $ 565,104 $ 726,437 $ 557,123 $ 564,939
v3.25.4
Summary of Significant Accounting Policies and Other Information - Revenue Disaggregation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Disaggregation of Revenue      
Net sales $ 2,386,294 $ 2,190,768 $ 2,362,657
Electronics – Semiconductor      
Disaggregation of Revenue      
Net sales 669,579 615,372 767,393
Electronics – Passive Products and Sensors      
Disaggregation of Revenue      
Net sales 675,943 571,401 583,033
Commercial Vehicle Products      
Disaggregation of Revenue      
Net sales 320,545 320,549 323,758
Passenger Car Products      
Disaggregation of Revenue      
Net sales 293,641 278,332 266,004
Automotive Sensors      
Disaggregation of Revenue      
Net sales 62,191 73,553 88,516
Industrial Products      
Disaggregation of Revenue      
Net sales 364,395 331,561 333,953
Electronics Segment      
Disaggregation of Revenue      
Net sales 1,345,522 1,186,773 1,350,426
Electronics Segment | Operating Segments      
Disaggregation of Revenue      
Net sales 1,345,522 1,186,773 1,350,426
Electronics Segment | Electronics – Semiconductor | Operating Segments      
Disaggregation of Revenue      
Net sales 669,579 615,372 767,393
Electronics Segment | Electronics – Passive Products and Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 675,943 571,401 583,033
Electronics Segment | Commercial Vehicle Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Electronics Segment | Passenger Car Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Electronics Segment | Automotive Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Electronics Segment | Industrial Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Transportation Segment      
Disaggregation of Revenue      
Net sales 676,377 672,434 678,278
Transportation Segment | Operating Segments      
Disaggregation of Revenue      
Net sales 676,377 672,434 678,278
Transportation Segment | Electronics – Semiconductor | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Transportation Segment | Electronics – Passive Products and Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Transportation Segment | Commercial Vehicle Products | Operating Segments      
Disaggregation of Revenue      
Net sales 320,545 320,549 323,758
Transportation Segment | Passenger Car Products | Operating Segments      
Disaggregation of Revenue      
Net sales 293,641 278,332 266,004
Transportation Segment | Automotive Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 62,191 73,553 88,516
Transportation Segment | Industrial Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment      
Disaggregation of Revenue      
Net sales 364,395 331,561 333,953
Industrial Segment | Operating Segments      
Disaggregation of Revenue      
Net sales 364,395 331,561 333,953
Industrial Segment | Electronics – Semiconductor | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment | Electronics – Passive Products and Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment | Commercial Vehicle Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment | Passenger Car Products | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment | Automotive Sensors | Operating Segments      
Disaggregation of Revenue      
Net sales 0 0 0
Industrial Segment | Industrial Products | Operating Segments      
Disaggregation of Revenue      
Net sales $ 364,395 $ 331,561 $ 333,953
v3.25.4
Acquisitions - Narrative (Details)
€ in Millions
 3 Months Ended 12 Months Ended 18 Months Ended 36 Months Ended
Dec. 11, 2025
USD ($)
Dec. 10, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
EUR (€)
Feb. 03, 2023
USD ($)
Dec. 27, 2025
USD ($)
Jun. 28, 2025
USD ($)
Mar. 29, 2025
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2023
EUR (€)
Dec. 27, 2025
USD ($)
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Dec. 31, 2024
USD ($)
Dec. 27, 2025
USD ($)
Business Combination                              
Impairments                     $ 301,185,000 $ 44,763,000 $ 0    
Inventory adjustment             $ 600,000                
Cash, net of cash acquired                     $ 407,718,000 0 198,810,000    
Amortization of unfavorable production contract                              
Business Combination                              
Contract amortization period                     4 years        
Basler Electric                              
Business Combination                              
Business combination $ 130,000,000                            
Basler Electric                              
Business Combination                              
Cash 361,700,000                            
Purchase price $ 350,300,000                            
Revenue                     $ 3,700,000        
Business combination, acquiree's earnings (loss) since acquisition date, actual                     1,200,000        
Non-cash cost of good sold                     1,100,000        
Inventory adjustment           $ 6,400,000                  
Acquisition related costs                     2,600,000        
Cash, net of cash acquired   $ 350,301,000                          
Other long-term liabilities   $ (2,750,000)                          
Dortmund Fab                              
Business Combination                              
Cash     $ 58,800,000 € 56.7         $ 40,500,000 € 37.2          
Purchase price | €                   € 94.0          
Revenue                     49,000,000.0        
Business combination, acquiree's earnings (loss) since acquisition date, actual                     $ (69,100,000)        
Impairments           $ 64,600,000                  
Inventory adjustment               $ (500,000)              
Acquisition related costs                       $ 500,000 3,000,000.0   $ 3,500,000
Cash, net of cash acquired                           $ 95,942,000  
Other long-term liabilities     $ (15,289,000)                     $ (15,289,000)  
Western Automation                              
Business Combination                              
Cash         $ 162,000,000                    
Acquisition related costs                         $ 1,200,000    
Cash, net of cash acquired         158,260,000                    
Other long-term liabilities         (8,998,000)                    
Annualized sales         $ 25,000,000                    
v3.25.4
Acquisitions - Preliminary Price Allocation (Details) - USD ($)
$ in Thousands
 12 Months Ended 18 Months Ended
Dec. 10, 2025
Feb. 03, 2023
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2024
Total purchase consideration:            
Cash, net of cash acquired     $ 407,718 $ 0 $ 198,810  
Allocation of consideration to assets acquired and liabilities assumed:            
Goodwill     $ 1,211,411 $ 1,228,502 $ 1,309,998  
Basler Electric            
Total purchase consideration:            
Cash, net of cash acquired $ 350,301          
Allocation of consideration to assets acquired and liabilities assumed:            
Trade receivables, net 16,798          
Inventories 23,363          
Other current assets 2,965          
Property, plant, and equipment 23,237          
Intangible assets 150,000          
Goodwill 152,343          
Other long-term assets 5,731          
Current liabilities (21,386)          
Other long-term liabilities (2,750)          
Assets acquired and liabilities assumed $ 350,301          
Dortmund Fab            
Total purchase consideration:            
Cash, net of cash acquired           $ 95,942
Allocation of consideration to assets acquired and liabilities assumed:            
Trade receivables, net           5,985
Inventories           6,600
Other current assets           8,278
Property, plant, and equipment           30,132
Intangible assets           1,800
Goodwill           57,321
Other long-term assets           8,579
Current liabilities           (7,464)
Other long-term liabilities           (15,289)
Assets acquired and liabilities assumed           $ 95,942
Western Automation            
Total purchase consideration:            
Cash, net of cash acquired   $ 158,260        
Allocation of consideration to assets acquired and liabilities assumed:            
Trade receivables, net   3,359        
Inventories   3,678        
Other current assets   718        
Property, plant, and equipment   1,328        
Intangible assets   68,000        
Goodwill   93,937        
Other long-term assets   573        
Current liabilities   (4,335)        
Other long-term liabilities   (8,998)        
Assets acquired and liabilities assumed   $ 158,260        
v3.25.4
Acquisitions - Business Acquisition Pro Forma Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Business Combination      
Net (loss) income $ (6,613) $ (14,106) $ 633
Basler and Dortmund Fab      
Business Combination      
Net sales 2,515,937 2,354,262 2,364,543
Income before income taxes 11,474 148,476 330,114
Net (loss) income $ (66,100) $ 96,901 $ 260,812
Net (loss) income per share — basic (in dollars per share) $ (2.66) $ 3.90 $ 10.49
Net (loss) income per share — diluted (in dollars per share) $ (2.66) $ 3.87 $ 10.39
v3.25.4
Acquisitions - Pro Forma Information Adjustments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Business Combination, Pro Forma Information      
Net (loss) income $ (6,613) $ (14,106) $ 633
Amortization      
Business Combination, Pro Forma Information      
Net (loss) income (11,009) (10,481) (479)
Depreciation      
Business Combination, Pro Forma Information      
Net (loss) income (833) (1,821) 0
Transaction costs      
Business Combination, Pro Forma Information      
Net (loss) income 2,536 (2,535) 1,203
Amortization of unfavorable production contract      
Business Combination, Pro Forma Information      
Net (loss) income 0 2,269 0
Amortization of inventory step-down and step-up      
Business Combination, Pro Forma Information      
Net (loss) income 563 (5,890) 0
Income tax benefit (expense) of above items      
Business Combination, Pro Forma Information      
Net (loss) income $ 2,130 $ 4,352 $ (91)
v3.25.4
Inventories - Components of Inventories (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Inventory, Net    
Raw materials $ 186,662 $ 193,788
Work in process 131,129 115,497
Finished goods 181,376 173,513
Inventory reserves (82,695) (66,525)
Total $ 416,472 $ 416,273
v3.25.4
Property, Plant, and Equipment, net (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Property, Plant and Equipment    
Accumulated depreciation and amortization $ (697,460) $ (625,906)
Total 540,640 477,068
Land and land improvements    
Property, Plant and Equipment    
Property, plant, and equipment, gross 24,088 17,593
Building and building improvements    
Property, Plant and Equipment    
Property, plant, and equipment, gross 215,024 192,441
Machinery and equipment    
Property, Plant and Equipment    
Property, plant, and equipment, gross $ 998,988 $ 892,940
v3.25.4
Property, Plant, and Equipment, net - Depreciation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Property, Plant and Equipment [Abstract]      
Depreciation $ 74,871 $ 68,325 $ 71,634
v3.25.4
Goodwill and Other Intangible Assets - Amounts for Goodwill and Changes in Carrying Value by Operating Segment (Details) - USD ($)
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Goodwill      
Gross goodwill $ 1,608,393,000 $ 1,314,039,000 $ 1,352,737,000
Accumulated impairment losses (396,982,000) (85,537,000) (42,739,000)
Net goodwill 1,211,411,000 1,228,502,000 1,309,998,000
Impairments (301,185,000) (44,763,000) 0
Additions 209,664,000    
Foreign currency translation adjustments $ 74,430,000 $ (36,733,000)  
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration] Restructuring, impairment, and other charges Restructuring, impairment, and other charges  
Electronics      
Goodwill      
Gross goodwill $ 1,027,462,000 $ 906,871,000 936,505,000
Accumulated impairment losses (303,133,000) 0 0
Net goodwill 724,329,000 906,871,000 936,505,000
Impairments (301,185,000) 0  
Additions 57,321,000    
Foreign currency translation adjustments 61,322,000 (29,634,000)  
Transportation      
Goodwill      
Gross goodwill 242,192,000 233,286,000 237,115,000
Accumulated impairment losses (44,793,000) (41,645,000) (34,004,000)
Net goodwill 197,399,000 191,641,000 203,111,000
Impairments 0 (8,616,000)  
Additions 0    
Foreign currency translation adjustments 5,758,000 (2,854,000)  
Industrial      
Goodwill      
Gross goodwill 338,739,000 173,882,000 179,117,000
Accumulated impairment losses (49,056,000) (43,892,000) (8,735,000)
Net goodwill 289,683,000 129,990,000 $ 170,382,000
Impairments 0 (36,147,000)  
Additions 152,343,000    
Foreign currency translation adjustments $ 7,350,000 $ (4,245,000)  
v3.25.4
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Mar. 30, 2024
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Goodwill            
Impairments       $ 301,185,000 $ 44,763,000 $ 0
Goodwill $ 1,211,411,000 $ 1,228,502,000   1,211,411,000 1,228,502,000 1,309,998,000
Amortization of intangibles       59,793,000 62,127,000 65,794,000
Impairment         47,800,000  
Customer relationships            
Goodwill            
Impairment         47,600,000  
Industrial            
Goodwill            
Impairments       0 36,147,000  
Goodwill 289,683,000 129,990,000   289,683,000 129,990,000 170,382,000
Impairment   47,800,000       900,000
Industrial | Customer relationships            
Goodwill            
Impairment         200,000  
Industrial | Customer Relationships, Developed technology, and Tradename            
Goodwill            
Impairment   47,600,000        
Industrial | Patents and Customer Relationships            
Goodwill            
Impairment   200,000        
Transportation Segment            
Goodwill            
Impairments       0 8,616,000  
Goodwill 197,399,000 191,641,000   197,399,000 191,641,000 $ 203,111,000
Transportation Segment | Customer relationships            
Goodwill            
Impairment     $ 900,000      
Automotive Sensors            
Goodwill            
Impairments   8,600,000     8,616,000  
Goodwill 274,900,000     274,900,000    
Industrial Controls            
Goodwill            
Impairments   $ 36,100,000     36,147,000  
Goodwill 238,500,000     238,500,000    
Impairment         $ 47,579,000  
Electronics – Passive Products and Sensors            
Goodwill            
Impairments $ 301,185,000     $ 301,200,000    
v3.25.4
Goodwill and Other Intangible Assets - Details of Other Intangible Assets and Related Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Finite-Lived Intangible Assets    
Gross Carrying Value $ 1,143,907 $ 950,414
  Accumulated Amortization 549,000 468,296
Total 594,907 482,118
Land use rights    
Finite-Lived Intangible Assets    
Gross Carrying Value 16,661 16,079
  Accumulated Amortization 3,613 2,994
Total 13,048 13,085
Patents, licenses, and software    
Finite-Lived Intangible Assets    
Gross Carrying Value 291,192 260,096
  Accumulated Amortization 212,184 180,674
Total 79,008 79,422
Distribution network    
Finite-Lived Intangible Assets    
Gross Carrying Value 42,384 41,667
  Accumulated Amortization 42,384 41,667
Total 0 0
Customer relationships, trademarks, and tradenames    
Finite-Lived Intangible Assets    
Gross Carrying Value 793,670 632,572
  Accumulated Amortization 290,819 242,961
Total $ 502,851 $ 389,611
v3.25.4
Goodwill and Other Intangible Assets - Schedule of Intangible Assets Related to Acquisition (Details)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
USD ($)
Basler  
Finite-Lived Intangible Assets  
Intangible assets $ 150,000
Basler | Patents, developed technology  
Finite-Lived Intangible Assets  
Intangible assets $ 15,000
Weighted average useful life (in years) 6 years
Basler | Customer relationships, trademarks, and tradenames  
Finite-Lived Intangible Assets  
Intangible assets $ 135,000
Weighted average useful life (in years) 13 years 7 months 6 days
Dortmund Fab  
Finite-Lived Intangible Assets  
Intangible assets $ 1,800
Dortmund Fab | Customer relationships, trademarks, and tradenames  
Finite-Lived Intangible Assets  
Intangible assets $ 1,800
Weighted average useful life (in years) 5 years
v3.25.4
Goodwill and Other Intangible Assets - Estimated Amortization Expense Related to Intangible Assets with Definite Lives (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Amount    
2026 $ 61,306  
2027 59,123  
2028 58,720  
2029 58,309  
2030 54,908  
2031 and thereafter 302,541  
Total $ 594,907 $ 482,118
v3.25.4
Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Payables and Accruals [Abstract]    
Employee-related liabilities $ 114,662 $ 67,639
Current lease liability 11,435 13,900
Deferred revenue 11,215 1,557
Other non-income taxes 7,960 7,022
Interest 7,069 8,131
Professional services 6,629 6,613
Restructuring liability 6,014 4,624
Other customer reserves 2,874 3,450
Current benefit liability 1,680 1,514
Current hedge liability 0 4,067
Other 29,733 29,759
Total $ 199,271 $ 148,276
v3.25.4
Lease Commitments - Narrative (Details)
 12 Months Ended
Dec. 27, 2025
USD ($)
renewal
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Leases [Abstract]      
Number of renewal options | renewal 1    
Operating lease, rent expense $ 21,200,000 $ 19,700,000 $ 18,300,000
Sale leaseback gain $ 0 $ 300,000 $ 0
v3.25.4
Lease Commitments - Balance Sheet, Operating Lease Term and Discount Rate (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Operating Leases    
Right of use assets - operating lease $ 85,318 $ 71,513
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Right-of-Use Asset Right-of-Use Asset
Current operating lease liabilities    
Current operating lease liabilities $ 11,347 $ 13,626
Non-current operating lease liabilities 71,664 60,558
Total operating lease liabilities $ 83,011 $ 74,184
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities (Note 6) Accrued liabilities (Note 6)
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Lease, Liability, Noncurrent Lease, Liability, Noncurrent
Finance Leases    
Right of use assets - finance lease $ 945 $ 698
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Right-of-Use Asset Right-of-Use Asset
Current finance lease liabilities $ 88 $ 274
Non-current finance lease liabilities 101 1
Total finance lease liabilities $ 189 $ 275
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities (Note 6) Accrued liabilities (Note 6)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Lease, Liability, Noncurrent Lease, Liability, Noncurrent
v3.25.4
Lease Commitments - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Leases [Abstract]      
Operating lease expenses $ 18,906 $ 17,310 $ 15,817
Finance lease:      
Finance lease expenses 107 96 219
Interest on lease liabilities 9 8 19
Short-term lease expenses 758 1,170 1,229
Variable lease expenses 1,407 1,151 1,034
Total lease costs $ 21,187 $ 19,735 $ 18,318
v3.25.4
Lease Commitments - Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Operating Leases    
2026 $ 15,282  
2027 14,481  
2028 13,681  
2029 13,031  
2030 10,583  
2031 and thereafter 35,091  
Total lease payments 102,149  
Less: Imputed interest (19,138)  
Present value of lease liabilities 83,011 $ 74,184
Finance Leases    
2026 94  
2027 97  
2028 4  
2029 4  
2030 0  
2031 and thereafter 0  
Total lease payments 199  
Less: Imputed interest (10)  
Present value of lease liabilities $ 189 $ 275
v3.25.4
Lease Commitments - Weighted Average Lease Term and Discount Rates (Details)(Details)
Dec. 27, 2025
Dec. 28, 2024
Weighted-average remaining lease term (years)    
Operating leases 7 years 7 months 17 days 8 years 8 months 1 day
Finance leases 1 year 6 months 21 days 1 year
Weighted-average discount rate    
Operating leases 5.07% 5.39%
Finance leases 5.30% 2.00%
v3.25.4
Lease Commitments - Supplemental Cash Flow Information (Details) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities      
Operating cash flow - payments on operating leases $ (19,848) $ (13,258) $ (14,518)
Operating cash flow - interest payments on finance leases (9) (8) (19)
Financing cash flow - payments on finance lease obligations (377) (280) (1,164)
Leased assets obtained in exchange of new lease obligations, including leases acquired:      
Operating leases 21,895 26,785 16,689
Finance leases $ 269 $ 0 $ 0
v3.25.4
Restructuring, Impairment, and Other Charges - Schedule of Restructuring, Impairment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Restructuring Cost and Reserve      
Restructuring charges $ 17,998 $ 14,926 $ 11,648
Impairment 302,052 93,515 4,853
Total $ 320,050 108,441 16,501
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Restructuring, impairment, and other charges    
Employee terminations      
Restructuring Cost and Reserve      
Restructuring charges $ 17,242 13,951 8,705
Other restructuring charges      
Restructuring Cost and Reserve      
Restructuring charges 756 975 2,943
Electronics      
Restructuring Cost and Reserve      
Restructuring charges 9,347 9,058 4,504
Impairment 301,521 0 111
Total 310,868 9,058 4,615
Electronics | Employee terminations      
Restructuring Cost and Reserve      
Restructuring charges 8,708 8,748 4,162
Electronics | Other restructuring charges      
Restructuring Cost and Reserve      
Restructuring charges 639 310 342
Transportation      
Restructuring Cost and Reserve      
Restructuring charges 7,658 5,163 4,625
Impairment 531 9,549 3,870
Total 8,189 14,712 8,495
Transportation | Employee terminations      
Restructuring Cost and Reserve      
Restructuring charges 7,542 4,620 3,649
Transportation | Other restructuring charges      
Restructuring Cost and Reserve      
Restructuring charges 116 543 976
Industrial      
Restructuring Cost and Reserve      
Restructuring charges 993 705 2,519
Impairment 0 83,966 872
Total 993 84,671 3,391
Industrial | Employee terminations      
Restructuring Cost and Reserve      
Restructuring charges 992 583 894
Industrial | Other restructuring charges      
Restructuring Cost and Reserve      
Restructuring charges $ 1 $ 122 $ 1,625
v3.25.4
Restructuring, Impairment, and Other Charges - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Mar. 30, 2024
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Restructuring Cost and Reserve            
Impairment charges       $ 302,052,000 $ 93,515,000 $ 4,853,000
Goodwill impairment       301,185,000 44,763,000 0
Restructuring charges       17,998,000 14,926,000 11,648,000
Impairment         47,800,000  
Restructuring reserve, noncurrent $ 300,000     300,000    
Restructuring reserves   $ 4,600,000     4,600,000  
Employee terminations            
Restructuring Cost and Reserve            
Restructuring charges       17,242,000 13,951,000 8,705,000
Customer relationships            
Restructuring Cost and Reserve            
Impairment         47,600,000  
Industrial Controls            
Restructuring Cost and Reserve            
Goodwill impairment   36,100,000     36,147,000  
Impairment         47,579,000  
Automotive Sensors            
Restructuring Cost and Reserve            
Goodwill impairment   8,600,000     8,616,000  
Electronics – Passive Products and Sensors            
Restructuring Cost and Reserve            
Goodwill impairment $ 301,185,000     301,200,000    
Transportation Segment            
Restructuring Cost and Reserve            
Impairment charges           3,900,000
Goodwill impairment       0 8,616,000  
Impairment of long lived assets to be disposed of     $ 900,000 500,000    
Restructuring charges       7,658,000 5,163,000 4,625,000
Transportation Segment | Employee terminations            
Restructuring Cost and Reserve            
Restructuring charges       7,542,000 4,620,000 3,649,000
Transportation Segment | Customer relationships            
Restructuring Cost and Reserve            
Impairment     $ 900,000      
Industrial            
Restructuring Cost and Reserve            
Impairment charges           900,000
Goodwill impairment       0 36,147,000  
Restructuring charges       993,000 705,000 2,519,000
Impairment   $ 47,800,000       900,000
Industrial | Employee terminations            
Restructuring Cost and Reserve            
Restructuring charges       992,000 583,000 894,000
Industrial | Customer relationships            
Restructuring Cost and Reserve            
Impairment         200,000  
Electronics            
Restructuring Cost and Reserve            
Impairment charges           100,000
Goodwill impairment       301,185,000 0  
Impairment of long lived assets to be disposed of       400,000    
Restructuring charges       9,347,000 9,058,000 4,504,000
Electronics | Employee terminations            
Restructuring Cost and Reserve            
Restructuring charges       $ 8,708,000 $ 8,748,000 $ 4,162,000
v3.25.4
Debt - Carrying Amounts of Long-term Debt (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Debt Instrument    
Long-term debt, gross $ 804,460  
Unamortized debt issuance costs (1,833) $ (2,766)
Total debt 802,627 856,114
Less: Current maturities (96,233) (67,612)
Total long-term debt 706,394 788,502
Revolving credit facility    
Debt Instrument    
Long-term debt, gross 100,000 100,000
Senior Notes | Euro Senior Notes, Series B due 2028    
Debt Instrument    
Long-term debt, gross 111,977 98,928
Senior Notes | U.S. Senior Notes, Series A due 2025    
Debt Instrument    
Long-term debt, gross 0 50,000
Senior Notes | U.S. Senior Notes, Series B due 2027    
Debt Instrument    
Long-term debt, gross 100,000 100,000
Senior Notes | U.S. Senior Notes, Series B due 2030    
Debt Instrument    
Long-term debt, gross 125,000 125,000
Senior Notes | U.S. Senior Notes, due 2032    
Debt Instrument    
Long-term debt, gross 100,000 100,000
Other    
Debt Instrument    
Long-term debt, gross $ 1,233 $ 3,702
v3.25.4
Debt - Narrative (Details)
 3 Months Ended 12 Months Ended
Jun. 30, 2022
USD ($)
Dec. 08, 2016
EUR (€)
Mar. 29, 2025
USD ($)
Dec. 27, 2025
USD ($)
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jul. 18, 2022
USD ($)
May 12, 2022
USD ($)
Jan. 16, 2018
USD ($)
Nov. 15, 2017
USD ($)
series
Feb. 15, 2017
USD ($)
Dec. 08, 2016
USD ($)
series
Dec. 08, 2016
EUR (€)
series
Debt Instrument                              
Cash paid during the period for interest       $ 34,361,000 $ 36,207,000 $ 37,167,000                  
Long-term debt, gross       804,460,000                      
Repayments of term loan       15,000,000 7,500,000 $ 7,500,000                  
Letter of credit outstanding       $ 1,100,000                      
Debt issuance cost             $ 2,700,000                
Unhedged Portion | Credit Agreement                              
Debt Instrument                              
Effective interest rate (in percent)       4.82%                      
Hedged Portion | Credit Agreement                              
Debt Instrument                              
Effective interest rate (in percent)       3.88%                      
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges                              
Debt Instrument                              
Notional value                   $ 200,000,000          
Term loan                              
Debt Instrument                              
Maximum borrowing capacity, credit facility $ 300,000,000                            
Loan minimum increments 25,000,000                            
Long-term debt, gross $ 300,000,000.0     $ 266,250,000 281,250,000                    
Repayments of term loan       15,000,000.0                      
Term loan | Period One                              
Debt Instrument                              
Quarterly repayment of line of credit               $ 1,900,000              
Term loan | Period Two                              
Debt Instrument                              
Quarterly repayment of line of credit               $ 3,800,000              
Revolving credit facility                              
Debt Instrument                              
Long-term debt, gross       100,000,000 100,000,000                    
Remaining borrowing capacity       598,900,000                      
Revolving credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                              
Debt Instrument                              
Basis spread on variable rate adjustment (percent) 0.10%                            
Revolving credit facility | Minimum                              
Debt Instrument                              
Commitment fee (in percent) 0.10%                            
Revolving credit facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                              
Debt Instrument                              
Basis spread on variable rate (in percent) 1.00%                            
Revolving credit facility | Minimum | Base Rate                              
Debt Instrument                              
Basis spread on variable rate (in percent) 0.00%                            
Revolving credit facility | Maximum                              
Debt Instrument                              
Commitment fee (in percent) 0.175%                            
Revolving credit facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                              
Debt Instrument                              
Basis spread on variable rate (in percent) 1.75%                            
Revolving credit facility | Maximum | Base Rate                              
Debt Instrument                              
Basis spread on variable rate (in percent) 0.75%                            
Senior Notes | Euro Senior Notes, Series A and B                              
Debt Instrument                              
Face amount of debt | €                             € 212,000,000
Number of series | series                           2 2
Senior Notes | Euro Senior Notes, Series A due 2023                              
Debt Instrument                              
Face amount of debt | €                             € 117,000,000
Stated interest rate (in percent)                           1.14% 1.14%
Repayments of debt | €   € 117,000,000                          
Senior Notes | Euro Senior Notes, Series B due 2028                              
Debt Instrument                              
Long-term debt, gross       111,977,000 98,928,000                    
Face amount of debt | €                             € 95,000,000
Stated interest rate (in percent)                           1.83% 1.83%
Senior Notes | U.S. Senior Notes, Series A and B                              
Debt Instrument                              
Face amount of debt                           $ 125,000,000  
Number of series | series                           2 2
Senior Notes | U.S. Senior Notes, Series A due 2022                              
Debt Instrument                              
Face amount of debt                         $ 25,000,000    
Stated interest rate (in percent)                         3.03%    
Senior Notes | U.S. Senior Notes, Series B due 2027                              
Debt Instrument                              
Long-term debt, gross       100,000,000 100,000,000                    
Face amount of debt                         $ 100,000,000    
Stated interest rate (in percent)                         3.74%    
Senior Notes | U.S. Senior Notes, Series A                              
Debt Instrument                              
Repayments of debt             $ 25,000,000                
Senior Notes | U.S. Senior Notes A and B Due 2025 and 2030                              
Debt Instrument                              
Face amount of debt                       $ 175,000,000      
Number of series | series                       2      
Senior Notes | U.S. Senior Notes, Series A due 2025                              
Debt Instrument                              
Long-term debt, gross       0 50,000,000                    
Face amount of debt                     $ 50,000,000        
Stated interest rate (in percent)                     3.48%        
Senior Notes | U.S. Senior Notes, Series B due 2030                              
Debt Instrument                              
Long-term debt, gross       $ 125,000,000 $ 125,000,000                    
Face amount of debt                     $ 125,000,000        
Stated interest rate (in percent)                     3.78%        
Repayments of debt     $ 50,000,000                        
Senior Notes | U.S. Senior Notes, 2032                              
Debt Instrument                              
Face amount of debt                 $ 100,000,000            
Stated interest rate (in percent)                 4.33%            
v3.25.4
Debt - Scheduled Maturities of the Company's Long Term Debt (Details)
$ in Thousands
Dec. 27, 2025
USD ($)
Scheduled Maturities  
2026 $ 96,233
2027 371,250
2028 111,977
2029 0
2030 125,000
2031 and thereafter 100,000
Total $ 804,460
v3.25.4
Fair Value of Assets and Liabilities - Zero Cost Collar Agreement (Details) - Zero cost collar agreement - Cash Flow Hedging - Derivatives designated as cash flow hedges
Jul. 01, 2024
August 2025 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.0000
Derivative instrument, weighted average cap price (per unit) 19.4350
September 2025 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 19.6550
Derivative instrument, weighted average cap price (per unit) 21.0000
November 2025 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.0820
Derivative instrument, weighted average cap price (per unit) 21.7571
November 2025 Collars II  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 19.8700
Derivative instrument, weighted average cap price (per unit) 21.3650
January 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.1200
Derivative instrument, weighted average cap price (per unit) 21.6900
February 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.4250
Derivative instrument, weighted average cap price (per unit) 22.0377
March 2 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.8000
Derivative instrument, weighted average cap price (per unit) 21.9082
March 30 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.5300
Derivative instrument, weighted average cap price (per unit) 22.0000
June 1 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 20.9700
Derivative instrument, weighted average cap price (per unit) 22.2355
June 29 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 19.6940
Derivative instrument, weighted average cap price (per unit) 20.9700
August 3 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 19.3100
Derivative instrument, weighted average cap price (per unit) 20.3437
August 31, 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.8500
Derivative instrument, weighted average cap price (per unit) 19.8025
September 29, 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.8500
Derivative instrument, weighted average cap price (per unit) 19.8000
November 2, 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.81
Derivative instrument, weighted average cap price (per unit) 19.8347
November 30, 2026 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.42
Derivative instrument, weighted average cap price (per unit) 19.37
January 4, 2027 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.72
Derivative instrument, weighted average cap price (per unit) 19.7
February 2, 2027 Collars  
Fair Value, Balance Sheet Grouping, Financial Statement Captions  
Derivative instrument, weighted average floor price (per unit) 18.43
Derivative instrument, weighted average cap price (per unit) 19.4852
v3.25.4
Fair Value of Assets and Liabilities - Narrative (Details)
€ in Millions
 3 Months Ended 12 Months Ended
Dec. 28, 2024
USD ($)
Mar. 30, 2024
USD ($)
Dec. 27, 2025
USD ($)
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Jul. 14, 2022
USD ($)
Jul. 14, 2022
EUR (€)
May 12, 2022
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment charges     $ 302,052,000 $ 93,515,000 $ 4,853,000      
Impairments     301,185,000 44,763,000 0      
Impairment       47,800,000        
Customer relationships                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment       47,600,000        
Industrial Controls                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairments $ 36,100,000     36,147,000        
Impairment       47,579,000        
Automotive Sensors                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairments 8,600,000     8,616,000        
Transportation Segment                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment charges         3,900,000      
Impairments     0 8,616,000        
Transportation Segment | Customer relationships                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment   $ 900,000            
Industrial                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment charges         900,000      
Impairments     0 36,147,000        
Impairment $ 47,800,000       900,000      
Industrial | Customer relationships                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment       200,000        
Electronics                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Impairment charges         $ 100,000      
Impairments     301,185,000 $ 0        
Zero cost collar agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Unrealized gain on derivative instruments     10,800,000          
Pre-tax loss from AOCI expected to be loss recognized in next twelve months     7,200,000          
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Pre-tax loss from AOCI expected to be loss recognized in next twelve months     $ 1,200,000          
Notional value               $ 200,000,000
Foreign exchange forward contract | Cash Flow Hedging | Derivatives not designated as hedging instruments                
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis                
Notional value           $ 6,300,000 € 117.0  
v3.25.4
Fair Value of Assets and Liabilities - Fair Values of Derivatives and Classifications on the Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Current hedge liability $ 0 $ 4,067
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Derivative assets, current 1,162 2,482
Derivative asset, non-current 382 3,716
Zero cost collar agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Derivative assets, current 6,816 22
Derivative asset, non-current 3 2
Current hedge liability $ 0 $ 4,067
v3.25.4
Fair Value of Assets and Liabilities - Fair Values of Derivatives and Classifications on Statements of Net Income and Statements of Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax $ 4,654 $ (346) $ 2,827
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges | Interest expense, net      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Pre-tax gain (loss) on derivatives (2,987) (4,826) (4,551)
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges | Cost of sales      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Pre-tax gain (loss) on derivatives (2,791) 1,766 0
Interest rate swap agreement | Cash Flow Hedging | Derivatives designated as cash flow hedges | Selling, general, and administrative expenses      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Pre-tax gain (loss) on derivatives (219) 97 0
Foreign Exchange Option | Cash Flow Hedging | Derivatives designated as cash flow hedges      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax (10,787) 3,534 0
Foreign exchange forward contract | Derivatives not designated as hedging instruments | Foreign exchange gain      
Fair Value, Balance Sheet Grouping, Financial Statement Captions      
Pre-tax gain (loss) on derivatives $ 0 $ 0 $ (52)
v3.25.4
Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents $ 465,915 $ 658,491
Investments in equity securities 7,676 10,182
Mutual funds 25,730 23,268
Total 499,321 691,941
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 465,915 658,491
Investments in equity securities 7,676 10,182
Mutual funds 25,730 23,268
Total 499,321 691,941
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Investments in equity securities 0 0
Mutual funds 0 0
Total 0 0
Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents 0 0
Investments in equity securities 0 0
Mutual funds 0 0
Total $ 0 $ 0
v3.25.4
Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Senior Notes (Details) - Senior Notes - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Carrying Value | Euro Senior Notes, Series B due 2028    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value $ 111,977 $ 98,928
Carrying Value | USD Senior Notes, Series A due 2025    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 0 50,000
Carrying Value | USD Senior Notes, Series B due 2027    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 100,000 100,000
Carrying Value | USD Senior Notes, Series B due 2030    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 125,000 125,000
Carrying Value | USD Senior Notes, due 2032    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 100,000 100,000
Estimated Fair Value | Euro Senior Notes, Series B due 2028    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 106,908 91,741
Estimated Fair Value | USD Senior Notes, Series A due 2025    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 0 49,919
Estimated Fair Value | USD Senior Notes, Series B due 2027    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 99,152 96,623
Estimated Fair Value | USD Senior Notes, Series B due 2030    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value 120,076 114,786
Estimated Fair Value | USD Senior Notes, due 2032    
Fair Value, Balance Sheet Grouping, Financial Statement Captions    
Long-term debt fair value $ 95,587 $ 91,175
v3.25.4
Fair Value of Assets and Liabilities - Goodwill Impairment (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 28, 2024
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Impairment Charge        
Impairment     $ 47,800,000  
Impairments   $ 301,185,000 44,763,000 $ 0
Transportation Segment        
Impairment Charge        
Impairments   0 8,616,000  
Electronics        
Impairment Charge        
Impairments   301,185,000 0  
Industrial Controls        
Impairment Charge        
Impairment     47,579,000  
Impairments $ 36,100,000   36,147,000  
Industrial Controls | Customer relationships, trademarks, and tradenames        
Impairment Charge        
Impairment     40,641,000  
Industrial Controls | Patents, licenses, and software        
Impairment Charge        
Impairment     6,938,000  
Automotive Sensors        
Impairment Charge        
Impairments 8,600,000   8,616,000  
Level 3 | Estimated Fair Value | Industrial Controls        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 7,570,000   7,570,000  
Goodwill 119,361,000 238,057,000 119,361,000  
Level 3 | Estimated Fair Value | Industrial Controls | Customer relationships, trademarks, and tradenames        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 6,620,000   6,620,000  
Level 3 | Estimated Fair Value | Industrial Controls | Patents, licenses, and software        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 950,000   950,000  
Level 3 | Estimated Fair Value | Automotive Sensors        
Assets, Fair Value Disclosure        
Goodwill 0   0  
Level 3 | Carrying Value | Industrial Controls        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 8,207,000   8,207,000  
Goodwill 115,159,000 $ 238,486,000 115,159,000  
Level 3 | Carrying Value | Industrial Controls | Customer relationships, trademarks, and tradenames        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 7,142,000   7,142,000  
Level 3 | Carrying Value | Industrial Controls | Patents, licenses, and software        
Assets, Fair Value Disclosure        
Intangible assets, net of amortization 1,065,000   1,065,000  
Level 3 | Carrying Value | Automotive Sensors        
Assets, Fair Value Disclosure        
Goodwill $ 0   $ 0  
v3.25.4
Benefit Plans - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 04, 2024
Dec. 31, 2026
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Defined Benefit Plan Disclosure          
Potential decrease in pension obligation $ 25,000        
Potential decrease in pension obligation (percent) 31.00%        
One-time non cash settlement charge     $ (12) $ (299) $ 266
Actuarial gain (loss) adjustment $ 3,800        
Expected contributions     1,500    
Benefits paid     2,300    
Post-employment plan expense     3,500 5,000 $ 1,500
Benefit obligation     5,900 4,400  
Amount recognized in other comprehensive income (loss) as a component of net periodic benefit cost     100 (200)  
Defined benefit plan reclassification adjustments before tax     $ (1,900) (3,300)  
Expected return on plan asset, net settlement (percent)     4.70%    
Forecast | Minimum          
Defined Benefit Plan Disclosure          
One-time non cash settlement charge   $ 6,000      
Forecast | Maximum          
Defined Benefit Plan Disclosure          
One-time non cash settlement charge   $ 8,000      
Accrued Liabilities          
Defined Benefit Plan Disclosure          
Benefit obligation     $ 1,900 1,500  
Prepaid expenses and other current assets          
Defined Benefit Plan Disclosure          
Benefit obligation     4,000 2,900  
Foreign Plan          
Defined Benefit Plan Disclosure          
Accumulated benefit obligation     $ 65,200 $ 58,700  
v3.25.4
Benefit Plans - Benefit Plan Related Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Change in benefit obligation:      
Benefit obligation at beginning of year $ 4,400    
Service cost 3,020 $ 3,060 $ 2,774
Interest cost 4,013 3,873 3,795
Benefits paid from the plan assets (2,300)    
Benefit obligation at end of year 5,900 4,400  
Change in plan assets at fair value:      
Fair value of plan assets at beginning of year 39,338    
Fair value of plan assets at end of year 41,613 39,338  
Amounts recognized in the Consolidated Balance Sheets consist of:      
Non-current assets 241 6  
Current benefit liability (1,680) (1,514)  
Non-current benefit liability (38,733) (29,836)  
Net liability recognized (40,172) (31,344)  
Pension Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 70,682 73,521  
Service cost 3,020 3,060  
Interest cost 4,013 3,873  
Net actuarial loss 1,471 501  
Benefits paid from the plan assets (1,984) (2,037)  
Benefits paid directly by the Company (2,349) (2,042)  
Settlements (868) (1,248)  
Acquisitions 1,725 0  
Effect of exchange rate movements 6,075 (4,946)  
Benefit obligation at end of year 81,785 70,682 73,521
Change in plan assets at fair value:      
Fair value of plan assets at beginning of year 39,338 37,696  
Actual gain (loss) on plan assets 983 (529)  
Employer contributions 1,415 5,376  
Benefits paid from the plan assets (1,984) (2,037)  
Settlements (509) 0  
Effect of exchange rate movements 2,370 (1,168)  
Fair value of plan assets at end of year 41,613 39,338 $ 37,696
Net amount unfunded status $ (40,172) $ (31,344)  
v3.25.4
Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive (Loss) Income, Pre-tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Retirement Benefits [Abstract]      
Net actuarial loss $ 9,328 $ 6,679  
Prior service cost 1,249 1,304  
Total 10,577 7,983  
Amortization of:      
Prior service cost 93 93  
Net actuarial loss 309 81  
Amount arising during the period:      
Net actuarial loss (2,028) (3,099)  
Net curtailment and settlement loss 12 299 $ (266)
Foreign currency adjustments (980) 265  
Total $ (2,594) $ (2,361)  
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax  
v3.25.4
Benefit Plans - Benefit Plan Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Components of net periodic benefit cost:      
Service cost $ 3,020 $ 3,060 $ 2,774
Interest cost 4,013 3,873 3,795
Expected return on plan assets (1,899) (2,069) (1,879)
Amortization of prior service and net actuarial loss 402 174 45
Net periodic benefit cost 5,536 5,038 4,735
Net settlement loss (gain) 12 299 (266)
Total expense for the year $ 5,548 $ 5,337 $ 4,469
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax  
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax    
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax    
v3.25.4
Benefit Plans - Weighted Average Assumptions (Details)
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Retirement Benefits [Abstract]      
Discount rate 5.60% 5.60% 5.80%
Expected return on plan assets 4.70% 5.50% 5.20%
Compensation increase rate 4.80% 4.80% 4.70%
Discount rate 6.10% 5.60% 5.60%
Compensation increase rate 4.60% 4.80% 4.80%
v3.25.4
Benefit Plans - Funded Status of Plans (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Retirement Benefits [Abstract]    
Projected benefit obligation $ 52,927 $ 47,016
Fair value of plan assets 12,491 15,666
Accumulated benefit obligation 29,239 28,028
Fair value of plan assets $ 2,440 $ 5,419
v3.25.4
Benefit Plans - Expected Benefit Payments to Be Paid to Participants (Details)
$ in Thousands
Dec. 27, 2025
USD ($)
Expected Benefit Payments  
2026 $ 4,626
2027 4,283
2028 5,035
2029 5,562
2030 6,729
2031-2035 and thereafter $ 43,340
v3.25.4
Benefit Plans - Allocation of Plan Assets (Details)
Dec. 27, 2025
Dec. 28, 2024
Defined Benefit Plan Disclosure    
Asset Allocation 100.00% 100.00%
Cash and cash equivalents, and other    
Defined Benefit Plan Disclosure    
Asset Allocation 2.00% 1.00%
Equity securities    
Defined Benefit Plan Disclosure    
Asset Allocation 6.00% 7.00%
Fixed income securities    
Defined Benefit Plan Disclosure    
Asset Allocation 32.00% 32.00%
Bulk annuity contract    
Defined Benefit Plan Disclosure    
Asset Allocation 60.00% 60.00%
v3.25.4
Benefit Plans - The Company's Pension Plan Assets Measured at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Defined Benefit Plan Disclosure      
Total pension plan assets $ 41,613 $ 39,338  
Insurance contracts and other      
Defined Benefit Plan Disclosure      
Total pension plan assets 154 131  
Cash and cash equivalents      
Defined Benefit Plan Disclosure      
Total pension plan assets 808 422  
Equities      
Defined Benefit Plan Disclosure      
Total pension plan assets 2,635 2,921  
Fixed income      
Defined Benefit Plan Disclosure      
Total pension plan assets 13,029 12,422  
Bulk annuity contract      
Defined Benefit Plan Disclosure      
Total pension plan assets 24,987 23,442  
Level 1      
Defined Benefit Plan Disclosure      
Total pension plan assets 10,685 10,567  
Level 1 | Insurance contracts and other      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 1 | Cash and cash equivalents      
Defined Benefit Plan Disclosure      
Total pension plan assets 808 422  
Level 1 | Equities      
Defined Benefit Plan Disclosure      
Total pension plan assets 2,635 2,921  
Level 1 | Fixed income      
Defined Benefit Plan Disclosure      
Total pension plan assets 7,242 7,224  
Level 1 | Bulk annuity contract      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2 | Insurance contracts and other      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2 | Cash and cash equivalents      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2 | Equities      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2 | Fixed income      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 2 | Bulk annuity contract      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 3      
Defined Benefit Plan Disclosure      
Total pension plan assets 25,141 23,573 $ 133
Level 3 | Insurance contracts and other      
Defined Benefit Plan Disclosure      
Total pension plan assets 154 131  
Level 3 | Cash and cash equivalents      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 3 | Equities      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 3 | Fixed income      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
Level 3 | Bulk annuity contract      
Defined Benefit Plan Disclosure      
Total pension plan assets 24,987 23,442  
NAV      
Defined Benefit Plan Disclosure      
Total pension plan assets 5,787 5,198  
NAV | Insurance contracts and other      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
NAV | Cash and cash equivalents      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
NAV | Equities      
Defined Benefit Plan Disclosure      
Total pension plan assets 0 0  
NAV | Fixed income      
Defined Benefit Plan Disclosure      
Total pension plan assets 5,787 5,198  
NAV | Bulk annuity contract      
Defined Benefit Plan Disclosure      
Total pension plan assets $ 0 $ 0  
v3.25.4
Benefit Plans - Fair Value Measurement of Plan Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Change in benefit obligation:    
Fair value of plan assets at beginning of year $ 39,338  
Fair value of plan assets at end of year 41,613 $ 39,338
Level 3    
Change in benefit obligation:    
Fair value of plan assets at beginning of year 23,573 133
Bulk annuity contract 23,442  
Employer contributions 125 2
Actual return (loss) on assets 1,059 4
Benefits paid from the plan assets (1,392)  
Foreign currency adjustments 1,776 (8)
Fair value of plan assets at end of year $ 25,141 $ 23,573
v3.25.4
Benefit Plans - Defined Contribution and Other Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Supplemental Employee Retirement Plan      
Defined Contribution Plan Disclosure      
Discretionary contribution amount $ 0.3 $ 0.5 $ 0.6
Other Assets      
Defined Contribution Plan Disclosure      
Recorded liability 25.7    
Other Long-term Liabilities      
Defined Contribution Plan Disclosure      
Plan assets $ 25.7    
401(K) Savings Plan      
Defined Contribution Plan Disclosure      
Employer matching contribution 100.00%    
Discretionary matching contribution 4.00%    
Discretionary matching contribution 2.00% 2.00% 2.00%
Discretionary contribution amount $ 6.6 $ 6.5 $ 7.7
v3.25.4
Stock-Based Compensation - Narrative (Details) - USD ($)
 12 Months Ended
Apr. 25, 2024
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Defined Benefit Plan Disclosure        
Authorized (in shares)   800,000    
Options intrinsic value   $ 13,000,000.0 $ 6,300,000 $ 12,200,000
Fair value of shares other than options vested   17,700,000 16,200,000 19,800,000
Share-based liabilities paid   1,200,000 1,300,000 2,200,000
Unrecognized compensation cost   $ 43,600,000    
Unrecognized compensation cost, period for recognition (years)   2 years    
Allocated share based compensation   $ 28,600,000 27,400,000 25,700,000
Income tax benefit   $ 4,000,000.0 $ 4,000,000.0 $ 3,800,000
Purchase of common stock (in shares)   120,689 179,311 0
Purchase of common stock   $ 27,400,000 $ 40,900,000  
2021 Share Repurchase Program        
Defined Benefit Plan Disclosure        
Share repurchase program authorized   300,000,000    
Purchase of common stock     38,900,000  
2024 Share Repurchase Program        
Defined Benefit Plan Disclosure        
Share repurchase program authorized $ 300,000,000.0      
Share repurchase program, term (years) 3 years      
Remaining authorized amount   $ 270,600,000    
Purchase of common stock     $ 2,000,000.0  
Options        
Defined Benefit Plan Disclosure        
Award vesting period   3 years    
Options | Minimum        
Defined Benefit Plan Disclosure        
Award expiration period   7 years    
Options | Maximum        
Defined Benefit Plan Disclosure        
Award expiration period   10 years    
Non-vested restricted share and share unit awards        
Defined Benefit Plan Disclosure        
Award vesting period   3 years    
v3.25.4
Stock-Based Compensation - Reconciliation of Outstanding Stock Options (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 27, 2025
USD ($)
$ / shares
shares
Shares Under Option  
Outstanding (in shares) 629,812
Granted (in shares) 0
Exercised (in shares) (164,064)
Forfeited (in shares) (7,712)
Outstanding (in shares) 458,036
Exercisable (in shares) 416,903
Weighted Average Price  
Outstanding (in dollars per share) | $ / shares $ 200.07
Exercised (in dollars per share) | $ / shares 173.67
Forfeited (in dollars per share) | $ / shares 236.20
Outstanding (in dollars per share) | $ / shares 208.92
Exercisable (in dollars per share) | $ / shares $ 206.38
Outstanding (Years) 3 years 1 month 6 days
Exercisable (Years) 2 years 10 months 24 days
Outstanding | $ $ 24,677
Exercisable | $ $ 23,550
v3.25.4
Stock-Based Compensation - Reconciliation of Nonvested Restricted Share and Share Unit Awards (Details)
 12 Months Ended
Dec. 27, 2025
$ / shares
shares
Non-vested restricted share and share unit awards  
Shares  
Nonvested (in shares) 186,013
Granted (in shares) 175,235
Vested (in shares) (98,705)
Forfeited (in shares) (35,652)
Nonvested (in shares) 226,891
Weighted Average Grant-Date Fair Value  
Nonvested (in dollars per share) | $ / shares $ 229.56
Granted (in dollars per share) | $ / shares 186.04
Vested (in dollars per share) | $ / shares 229.94
Forfeited (in dollars per share) | $ / shares 212.78
Nonvested (in dollars per share) | $ / shares $ 198.43
Performance Shares  
Shares  
Nonvested (in shares) 0
Granted (in shares) 75,067
Vested (in shares) 0
Forfeited (in shares) (2,400)
Nonvested (in shares) 72,667
Weighted Average Grant-Date Fair Value  
Granted (in dollars per share) | $ / shares $ 319.63
Forfeited (in dollars per share) | $ / shares 252.93
Nonvested (in dollars per share) | $ / shares $ 321.83
v3.25.4
Stock-Based Compensation - Weighted Average Fair Value of Options Granted and Black-Scholes Option Valuation Model Assumptions (Details) - $ / shares
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average fair value of options granted (in dollars per share) $ 319.63    
Assumptions:      
Risk-free interest rate 4.01%    
Expected dividend yield 0.00%    
Expected stock price volatility 33.16%    
Expected correlation 24.29%    
Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average fair value of options granted (in dollars per share)   $ 75.25 $ 77.40
Assumptions:      
Risk-free interest rate   4.71% 3.67%
Expected dividend yield   1.13% 1.00%
Expected stock price volatility   34.90% 36.00%
Expected life of options (years)   4 years 4 months 24 days 4 years 4 months 24 days
v3.25.4
Other Comprehensive (Loss) Income - Schedule of Components of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Net of tax      
Pre-tax $ 143,410 $ (92,408) $ 39,489
Tax (2,432) 1,864 458
Total change in other comprehensive income (loss) 140,978 (90,544) 39,947
Pension and postretirement liability and reclassification adjustments      
Net of tax      
Pre-tax (2,154) (2,947) (5,911)
Tax (24) 51 491
Total change in other comprehensive income (loss) (2,178) (2,896) (5,420)
Cash flow hedges      
Net of tax      
Pre-tax 6,134 (3,188) (2,827)
Tax 697 41 679
Total change in other comprehensive income (loss) 6,831 (3,147) (2,148)
Foreign currency translation adjustments      
Net of tax      
Pre-tax 139,430 (86,273) 48,227
Tax (3,105) 1,772 (712)
Total change in other comprehensive income (loss) $ 136,325 $ (84,501) $ 47,515
v3.25.4
Other Comprehensive (Loss) Income - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax      
Beginning balance $ 2,413,612 $ 2,480,481 $ 2,211,378
Activity in the period 140,978 (90,544) 39,947
Ending balance 2,426,034 2,413,612 2,480,481
Accumulated other comprehensive (loss) income      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax      
Beginning balance (146,361) (55,817) (95,764)
Activity in the period 140,978 (90,544) 39,947
Ending balance (5,383) (146,361) (55,817)
Pension and postretirement liability and reclassification adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax      
Beginning balance (10,509) (7,613) (2,193)
Activity in the period (2,178) (2,896) (5,420)
Ending balance (12,687) (10,509) (7,613)
Cash flow hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax      
Beginning balance 1,301 4,448 6,596
Activity in the period 6,831 (3,147) (2,148)
Ending balance 8,132 1,301 4,448
Foreign currency translation adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax      
Beginning balance (137,153) (52,652) (100,167)
Activity in the period 136,325 (84,501) 47,515
Ending balance $ (828) $ (137,153) $ (52,652)
v3.25.4
Other Comprehensive (Loss) Income - Narratives (Details) - USD ($)
$ in Thousands
 12 Months Ended
Oct. 04, 2024
Dec. 31, 2026
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Other Comprehensive Income (Loss)          
Potential decrease in pension obligation $ 25,000        
Potential decrease in pension obligation (percent) 31.00%        
One-time non cash settlement charge     $ (12) $ (299) $ 266
Actuarial gain (loss) adjustment $ 3,800        
Forecast | Minimum          
Other Comprehensive Income (Loss)          
One-time non cash settlement charge   $ 6,000      
Forecast | Maximum          
Other Comprehensive Income (Loss)          
One-time non cash settlement charge   $ 8,000      
v3.25.4
Other Comprehensive (Loss) Income - Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income      
Restructuring, impairment, and other charges $ 320,050 $ 108,441 $ 16,501
Reclassification out of Accumulated Other Comprehensive Income      
Reclassification Adjustment out of Accumulated Other Comprehensive Income      
Total 2,306 3,740 204
Amortization of prior service, net actuarial loss (gain), and other | Reclassification out of Accumulated Other Comprehensive Income      
Reclassification Adjustment out of Accumulated Other Comprehensive Income      
Total 1,941 3,441 (43)
Net settlement loss and accelerated prior service costs | Reclassification out of Accumulated Other Comprehensive Income      
Reclassification Adjustment out of Accumulated Other Comprehensive Income      
Total   $ 299 $ 247
Restructuring, impairment, and other charges $ 365    
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Income Tax Contingency      
Toll charge, noncurrent $ 8.2    
Income taxes paid   $ 88.1 $ 81.1
Income tax refunds   4.3 7.2
Deferred tax liabilities recognized on foreign earnings $ 16.3 14.6  
Income tax holiday per diluted share (in dollars per share) $ 0.27    
Tax benefits recognized, lapse of applicable statute of limitations $ 23.2    
Interest expense (benefit) (2.3) 2.7 0.5
Decreases for lapses in statute of limitations 3.5 4.1 $ 1.7
Interest accrued 8.7 $ 11.1  
Income Tax, Interest Recognition, Classification [Extensible Enumeration]   Income taxes  
China      
Income Tax Contingency      
Tax holidays $ 6.6    
v3.25.4
Income Taxes - Federal, State, and Foreign Income Tax (Benefit) Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Income Tax Disclosure [Abstract]      
Domestic $ (94,209) $ 3,151 $ 40,571
Foreign 97,816 148,712 288,027
Income before income taxes 3,607 151,863 328,598
Current:      
Federal 3,875 (5,881) 8,188
State 3,449 1,826 2,880
Foreign 64,644 58,551 57,999
Subtotal 71,968 54,496 69,067
Deferred:      
Federal (including State for 2024 and 2023) 1,304 4,091 1,751
State (2,070) 0 0
Foreign 4,105 (6,914) (1,705)
Subtotal 3,339 (2,823) 46
Provision for income taxes $ 75,307 $ 51,673 $ 69,113
v3.25.4
Income Taxes - Reconciliation Between Income Taxes Computed On Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Amount      
Tax expense at statutory rate of 21% $ 757 $ 31,891 $ 69,006
US Tax on Non-US income (GILTI) 4,738 5,809 4,739
US Tax on Non-US income (Subpart F) 6,760    
Other (2,503)    
Foreign Tax Credits 4,301    
Other (1,106)    
Non-deductible goodwill impairment   5,810 0
Non-deductible expenses 3,378    
Other 397    
Other   (565) 2,005
State Taxes, Net of Federal Tax Effect 1,089 2,533 1,503
Non-U.S. income tax rate differential   (1,130) (25,623)
Worldwide Changes in Unrecognized Tax Benefits (5,827)    
Provision for income taxes $ 75,307 $ 51,673 $ 69,113
Percent      
Tax expense at statutory rate of 21% 21.00%    
US Tax on Non-US income (GILTI) 131.40%    
US Tax on Non-US income (Subpart F) 187.40%    
Other (69.40%)    
Foreign Tax Credits (119.20%)    
Other (30.70%)    
Non-deductible expenses 93.70%    
Other 11.00%    
State Taxes, Net of Federal Tax Effect 30.20%    
Worldwide Changes in Unrecognized Tax Benefits (161.50%)    
Provision for income taxes 2087.80%    
China      
Amount      
Other $ (2,895)    
Withholding Taxes $ 6,129    
Percent      
Other (80.20%)    
Withholding Taxes 169.90%    
Germany      
Amount      
Non-deductible goodwill impairment $ 17,031    
Valuation Allowance 26,839    
German Trade Tax (13,740)    
Other (674)    
Non-U.S. income tax rate differential $ 10,079    
Percent      
Non-deductible goodwill impairment 472.20%    
Valuation Allowance 744.10%    
Other (18.70%)    
Non-U.S. income tax rate differential 279.40%    
German Trade Tax (380.90%)    
Korea      
Amount      
Other $ 611    
Withholding Taxes $ 4,752    
Percent      
Other 17.00%    
Withholding Taxes 131.70%    
Mexico      
Amount      
Non-U.S. income tax rate differential $ (4,604)    
Percent      
Non-U.S. income tax rate differential (127.60%)    
Netherlands      
Amount      
Valuation Allowance $ 6,990    
Other $ (462)    
Percent      
Valuation Allowance 193.80%    
Other (12.80%)    
Philippines      
Amount      
Other $ 288    
Withholding Taxes 4,712    
Non-U.S. income tax rate differential $ (4,659)    
Percent      
Other 8.10%    
Withholding Taxes 130.60%    
Non-U.S. income tax rate differential (129.20%)    
Singapore      
Amount      
Other $ (346)    
Non-U.S. income tax rate differential (3,906)    
Nontaxable Income $ (5,100)    
Percent      
Other (9.60%)    
Non-U.S. income tax rate differential (108.30%)    
Nontaxable Income (141.40%)    
United Kingdom      
Amount      
Non-deductible goodwill impairment $ 7,018    
Other $ 57    
Percent      
Non-deductible goodwill impairment 194.60%    
Other 1.50%    
Other Foreign Jurisdictions      
Amount      
Non-U.S. income tax rate differential $ 230    
Percent      
Non-U.S. income tax rate differential 6.20%    
U.S.      
Amount      
Non-deductible goodwill impairment $ 23,028    
Valuation Allowance 409    
Other $ 138    
Percent      
Non-deductible goodwill impairment 638.40%    
Valuation Allowance 11.30%    
Other 3.80%    
v3.25.4
Income Taxes - Effective Income Tax Reconciliation and Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Income Tax Disclosure [Abstract]      
Tax expense at statutory rate of 21% $ 757 $ 31,891 $ 69,006
Non-U.S. income tax rate differential   (1,130) (25,623)
Non-U.S. losses and expenses with no tax benefit   9,401 11,261
Tax on unremitted earnings   6,616 6,394
Non-deductible goodwill impairment   5,810 0
Net impact associated with U.S. tax on non-U.S. income, including GILTI 4,738 5,809 4,739
State and local taxes, net of federal tax benefit 1,089 2,533 1,503
Certain changes in unrecognized tax benefits and related accrued interest   (8,692) (172)
Other, net   (565) 2,005
Provision for income taxes $ 75,307 $ 51,673 $ 69,113
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 27, 2025
Dec. 28, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 66,851 $ 46,263
Interest expense carryforwards 47,581 34,800
Accrued expenses and reserves 42,154 32,336
Lease liabilities 16,559 13,016
Excess of tax basis over the book basis for intangible assets and goodwill 16,016 0
Capitalized expenses 11,032 18,939
U.S. foreign tax credit carryforwards 3,772 3,490
U.S. research and other general business tax credit carryforwards 1,222 1,252
Other 0 196
Deferred tax assets 205,187 150,292
Less: Valuation allowance (97,557) (55,468)
Total deferred tax assets 107,630 94,824
Deferred tax liabilities:    
Excess of book basis over the tax basis for intangible assets and goodwill 134,666 133,701
Excess of book basis over the tax basis for property, plant, and equipment 34,448 24,238
Right of use lease assets 17,289 12,906
Tax on unremitted earnings 16,311 14,612
Other 1,996 0
Total deferred tax liabilities 204,710 185,457
Net deferred tax liabilities $ 97,080 $ 90,633
v3.25.4
Income Taxes - Income Taxes Paid Net of Refunds By Jurisdiction (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Federal $ 10,154    
State 1,792    
Foreign      
Total income taxes paid net of refunds received 81,601 $ 83,765 $ 73,932
Other Foreign Jurisdictions      
Foreign      
Foreign 12,103    
China      
Foreign      
Foreign 25,016    
Singapore      
Foreign      
Foreign 12,581    
Philippines      
Foreign      
Foreign 8,141    
Korea      
Foreign      
Foreign 5,853    
Mexico      
Foreign      
Foreign $ 5,961    
v3.25.4
Income Taxes - Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Unrecognized Tax Benefits    
Beginning balance $ 25,999 $ 31,449
Additions for tax positions taken in the current year 1,695 1,251
Additions for tax positions taken in the prior year 170 375
Decreases for lapses in statute of limitations (5,850) (7,650)
Decreases for settlements (563)  
Other 4,356 574
Ending balance $ 25,807 $ 25,999
v3.25.4
(Loss) Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Numerator:      
Net (loss) income as reported $ (71,700) $ 100,190 $ 259,485
Weighted average shares outstanding      
Basic (in shares) 24,817 24,821 24,854
Effect of dilutive securities (in shares) 0 218 248
Diluted (in shares) 24,817 25,039 25,102
(Loss) Earnings Per Share:      
Basic (loss) earnings per share (in dollars per share) $ (2.89) $ 4.04 $ 10.44
Diluted (loss) earnings per share (in dollars per share) $ (2.89) $ 4.00 $ 10.34
v3.25.4
(Loss) Earnings Per Share - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Other Comprehensive Income (Loss)      
Antidilutive securities excluded (in shares) 205,571    
Purchase of common stock (in shares) 120,689 179,311 0
Purchase of common stock $ 27.4 $ 40.9  
Restricted Stock Units (RSUs)      
Other Comprehensive Income (Loss)      
Antidilutive securities excluded (in shares) 204,189 139,839 110,002
2024 Share Repurchase Program      
Other Comprehensive Income (Loss)      
Purchase of common stock   $ 2.0  
Remaining authorized amount $ 270.6    
2021 Share Repurchase Program      
Other Comprehensive Income (Loss)      
Purchase of common stock   $ 38.9  
v3.25.4
Segment Information - Narrative (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 28, 2024
USD ($)
Dec. 27, 2025
USD ($)
segment
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Segment Reporting Information        
Restructuring charges   $ 17,998 $ 14,926 $ 11,648
Impairment     47,800  
Number of Reportable Segments | segment   3    
Employee terminations        
Segment Reporting Information        
Restructuring charges   $ 17,242 13,951 8,705
Transportation Segment        
Segment Reporting Information        
Restructuring charges   7,658 5,163 4,625
Transportation Segment | Employee terminations        
Segment Reporting Information        
Restructuring charges   7,542 4,620 3,649
Industrial        
Segment Reporting Information        
Restructuring charges   993 705 2,519
Impairment $ 47,800     900
Industrial | Employee terminations        
Segment Reporting Information        
Restructuring charges   992 583 894
Electronics        
Segment Reporting Information        
Restructuring charges   9,347 9,058 4,504
Electronics | Employee terminations        
Segment Reporting Information        
Restructuring charges   8,708 8,748 4,162
Operating Income (Loss)        
Segment Reporting Information        
Acquisition related costs   $ 5,400 $ 5,100 $ 11,700
Net sales | Customer Concentration Risk | Arrow Electronics Inc.        
Segment Reporting Information        
Concentration risk (less than)   9.50% 9.40% 11.20%
Outside the United States | Net sales | Geographic Concentration Risk        
Segment Reporting Information        
Concentration risk (less than)   65.00% 63.00% 65.00%
China | Net sales | Geographic Concentration Risk        
Segment Reporting Information        
Concentration risk (less than)   24.00% 23.00% 23.00%
v3.25.4
Segment Information - Schedule of Segment Reporting Information (Details)
 3 Months Ended 12 Months Ended
Dec. 28, 2024
USD ($)
property
Mar. 30, 2024
USD ($)
Dec. 27, 2025
USD ($)
Dec. 28, 2024
USD ($)
property
Dec. 30, 2023
USD ($)
Segment Reporting Information          
Net sales     $ 2,386,294,000 $ 2,190,768,000 $ 2,362,657,000
Other segment expenses     2,022,425,000 1,919,966,000 1,973,642,000
Segment operating income     37,528,000 158,780,000 360,862,000
Interest expense     34,303,000 38,717,000 39,866,000
Foreign exchange loss (gain)     16,612,000 (9,230,000) 12,299,000
Other income, net     (16,994,000) (22,570,000) (19,901,000)
Income before income taxes     3,607,000 151,863,000 328,598,000
Impairment charges     302,052,000 93,515,000 4,853,000
Impairment       47,800,000  
Impairments     301,185,000 44,763,000 0
Restructuring charges     17,998,000 14,926,000 11,648,000
Industrial Controls          
Segment Reporting Information          
Impairment       47,579,000  
Impairments $ 36,100,000     36,147,000  
Automotive Sensors          
Segment Reporting Information          
Impairments $ 8,600,000     8,616,000  
Customer relationships          
Segment Reporting Information          
Impairment       47,600,000  
Employee terminations          
Segment Reporting Information          
Restructuring charges     17,242,000 13,951,000 8,705,000
Operating Income (Loss)          
Segment Reporting Information          
Acquisition related costs     5,400,000 5,100,000 11,700,000
Operating Segments          
Segment Reporting Information          
Segment operating income     363,869,000 270,802,000 389,015,000
Other          
Segment Reporting Information          
Segment operating income     (326,341,000) (112,022,000) (28,153,000)
Electronics          
Segment Reporting Information          
Net sales     1,345,522,000 1,186,773,000 1,350,426,000
Other segment expenses     1,125,456,000 1,016,880,000 1,049,845,000
Impairment charges         100,000
Impairments     301,185,000 0  
Restructuring charges     9,347,000 9,058,000 4,504,000
Gain (loss) on sale of properties       500,000  
Electronics | Employee terminations          
Segment Reporting Information          
Restructuring charges     8,708,000 8,748,000 4,162,000
Electronics | Operating Segments          
Segment Reporting Information          
Net sales     1,345,522,000 1,186,773,000 1,350,426,000
Segment operating income     220,066,000 169,893,000 300,581,000
Transportation          
Segment Reporting Information          
Net sales     676,377,000 672,434,000 678,278,000
Other segment expenses     591,597,000 613,856,000 644,644,000
Impairment charges         3,900,000
Impairments     0 8,616,000  
Restructuring charges     7,658,000 5,163,000 4,625,000
Gain (loss) on disposition of business     (300,000)    
Gain (loss) on sale of properties       $ 1,000,000.0  
Number of real estate properties (property) | property 2     2  
Transportation | Customer relationships          
Segment Reporting Information          
Impairment   $ 900,000      
Transportation | Employee terminations          
Segment Reporting Information          
Restructuring charges     7,542,000 $ 4,620,000 3,649,000
Transportation | Operating Segments          
Segment Reporting Information          
Net sales     676,377,000 672,434,000 678,278,000
Segment operating income     84,780,000 58,578,000 33,634,000
Industrial          
Segment Reporting Information          
Net sales     364,395,000 331,561,000 333,953,000
Other segment expenses     305,372,000 289,230,000 279,153,000
Impairment charges         900,000
Impairment $ 47,800,000       900,000
Impairments     0 36,147,000  
Restructuring charges     993,000 705,000 2,519,000
Industrial | Customer relationships          
Segment Reporting Information          
Impairment       200,000  
Industrial | Employee terminations          
Segment Reporting Information          
Restructuring charges     992,000 583,000 894,000
Industrial | Operating Segments          
Segment Reporting Information          
Net sales     364,395,000 331,561,000 333,953,000
Segment operating income     $ 59,023,000 $ 42,331,000 $ 54,800,000
v3.25.4
Segment Information - Depreciation And Amortization (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Segment Reporting Information      
Depreciation $ 74,871 $ 68,325 $ 71,634
Amortization 59,793 62,127 65,794
Electronics      
Segment Reporting Information      
Depreciation 47,599 40,456 39,461
Amortization 40,350 39,362 39,883
Transportation Segment      
Segment Reporting Information      
Depreciation 21,143 22,117 26,732
Amortization 13,540 13,518 15,782
Industrial      
Segment Reporting Information      
Depreciation 6,129 5,752 5,441
Amortization $ 5,903 $ 9,247 $ 10,129
v3.25.4
Segment Information - Revenues and Long-lived Assets by Geographical Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Revenues from External Customers and Long-Lived Assets      
Net sales $ 2,386,294 $ 2,190,768 $ 2,362,657
Long-lived assets 540,640 477,068 493,153
Additions to long-lived assets 65,250 78,413 83,654
U.S.      
Revenues from External Customers and Long-Lived Assets      
Net sales 830,293 800,331 820,735
Long-lived assets 95,619 74,698 73,126
Additions to long-lived assets 10,694 19,081 9,502
China      
Revenues from External Customers and Long-Lived Assets      
Net sales 571,587 506,643 546,786
Long-lived assets 130,047 132,504 139,736
Additions to long-lived assets 13,371 16,045 32,805
Mexico      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 83,478 89,558 102,218
Additions to long-lived assets 6,381 10,181 13,920
Germany      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 110,246 58,758 47,217
Additions to long-lived assets 20,626 19,972 10,279
Philippines      
Revenues from External Customers and Long-Lived Assets      
Long-lived assets 61,591 66,174 73,217
Additions to long-lived assets 5,716 4,383 6,156
Other countries      
Revenues from External Customers and Long-Lived Assets      
Net sales 984,414 883,794 995,136
Long-lived assets 59,659 55,376 57,639
Additions to long-lived assets $ 8,462 $ 8,751 $ 10,992
v3.25.4
Related Party Transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Related Party Transaction      
Sales to related party $ 2,386,294 $ 2,190,768 $ 2,362,657
Accounts payable balance 211,079 188,359  
Related Party | Powersem      
Related Party Transaction      
Sales to related party 1,200 1,500  
Purchase of material/services from related party 2,200 3,800  
Accounts payable balance 100 700  
Related Party | EB Tech      
Related Party Transaction      
Sales to related party 0 0  
Purchase of material/services from related party 900 700  
Accounts payable balance 100 100  
Related Party | ATEC      
Related Party Transaction      
Sales to related party 0 0  
Purchase of material/services from related party 9,000 5,700  
Accounts payable balance $ 2,100 $ 700  
Powersem | Related Party      
Related Party Transaction      
Ownership percentage 45.00%    
EB Tech | Related Party      
Related Party Transaction      
Ownership percentage 15.00%    
ATEC | Related Party      
Related Party Transaction      
Ownership percentage 24.00%    
v3.25.4
Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 27, 2025
Dec. 28, 2024
Dec. 30, 2023
Allowance for credit losses on accounts receivable      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves      
Balance at Beginning of Year $ 1,589 $ 2,187 $ 1,575
Charged to Costs and Expenses 815 (182) 519
Deductions (266) (345) (181)
Other 382 (71) 274
Balance at End of Year 2,520 1,589 2,187
Reserves for sales discounts and allowances      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves      
Balance at Beginning of Year 68,401 82,509 81,987
Charged to Costs and Expenses 168,821 138,735 186,021
Deductions (164,156) (151,946) (186,043)
Other 1,487 (897) 544
Balance at End of Year $ 74,553 $ 68,401 $ 82,509