ULTRA CLEAN HOLDINGS, INC., 10-Q filed on 4/29/2026
Quarterly Report
v3.26.1
Cover - shares
 3 Months Ended
Mar. 27, 2026
Apr. 23, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 27, 2026  
Document Transition Report false  
Entity File Number 000-50646  
Entity Registrant Name Ultra Clean Holdings, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 61-1430858  
Entity Address, Address Line One 26462 Corporate Avenue  
Entity Address, City or Town Hayward  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94545  
City Area Code 510  
Local Phone Number 576-4400  
Title of 12(b) Security Common stock, par value $0.001 per share  
Trading Symbol UCTT  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   44,828,352
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001275014  
Current Fiscal Year End Date --01-01  
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Current assets:    
Cash and cash equivalents $ 323.5 $ 311.8
Accounts receivable, net of allowance for credit losses of $0.9 at both March 27, 2026 and December 26, 2025 232.8 208.8
Inventories 481.9 390.9
Prepaid expenses and other current assets 59.6 48.2
Total current assets 1,097.8 959.7
Property, plant and equipment, net 319.4 324.6
Goodwill 114.2 114.2
Intangible assets, net 149.9 156.8
Deferred tax assets, net 3.6 3.5
Operating lease right-of-use assets 158.4 157.2
Other non-current assets 11.9 13.0
Total assets 1,855.2 1,729.0
Current liabilities:    
Current portion of long-term debt 0.0 9.9
Accounts payable 263.4 194.9
Accrued compensation and related benefits 47.2 51.1
Operating lease liabilities 20.5 20.2
Other current liabilities 26.4 24.6
Total current liabilities 357.5 300.7
Long-term debt 601.9 467.0
Deferred tax liabilities 28.4 13.8
Operating lease liabilities 158.0 156.6
Other liabilities 7.3 6.8
Total liabilities 1,153.1 944.9
Commitments and contingencies (See Note 8)
UCT stockholders’ equity:    
Preferred stock — $0.001 par value, 10.0 shares authorized; none outstanding 0.0 0.0
Common stock — $0.001 par value, 90.0 shares authorized; 47.2 and 47.2 shares issued, and 44.8 and 45.5 shares outstanding at March 27, 2026 and December 26, 2025, respectively 0.1 0.1
Additional paid-in capital 556.8 578.7
Common shares held in treasury, at cost, 2.4 and 1.7 shares at March 27, 2026 and December 26, 2025, respectively (88.7) (48.4)
Retained earnings 171.3 189.2
Accumulated other comprehensive loss (11.6) (8.6)
Total UCT stockholders’ equity 627.9 711.0
Noncontrolling interests 74.2 73.1
Total equity 702.1 784.1
Total liabilities and equity $ 1,855.2 $ 1,729.0
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
shares in Millions, $ in Millions
Mar. 27, 2026
Dec. 26, 2025
Statement of Financial Position [Abstract]    
Account receivable, allowance for credit losses $ 0.9 $ 0.9
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 10.0 10.0
Preferred stock, shares outstanding (in shares) 0.0 0.0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 90.0 90.0
Common stock, shares issued (in shares) 47.2 47.2
Common stock, shares outstanding (in shares) 44.8 45.5
Common shares held in treasury (in shares) 2.4 1.7
v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Revenues:    
Total revenues $ 533.7 $ 518.6
Cost of revenues:    
Total cost revenues 449.3 434.6
Gross margin 84.4 84.0
Operating expenses:    
Research and development 8.5 7.6
Sales and marketing 15.5 14.9
General and administrative 49.0 48.6
Total operating expenses 73.0 71.1
Income from operations 11.4 12.9
Interest income 1.4 1.1
Interest expense (7.3) (9.9)
Other income (expense), net (1.3) 0.8
Income before provision for income taxes 4.2 4.9
Provision for income taxes 19.2 7.4
Net loss (15.0) (2.5)
Less: Net income attributable to noncontrolling interests 2.9 2.5
Net loss attributable to UCT $ (17.9) $ (5.0)
Net loss per share attributable to UCT common stockholders:    
Basic (in dollars per share) $ (0.40) $ (0.11)
Diluted (in dollars per share) $ (0.40) $ (0.11)
Shares used in computing net loss per share:    
Basic (in shares) 45.3 45.1
Diluted (in shares) 45.3 45.1
Products    
Revenues:    
Total revenues $ 465.7 $ 457.0
Cost of revenues:    
Total cost revenues 400.7 390.3
Services    
Revenues:    
Total revenues 68.0 61.6
Cost of revenues:    
Total cost revenues $ 48.6 $ 44.3
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Statement of Comprehensive Income [Abstract]    
Net loss $ (15.0) $ (2.5)
Other comprehensive income (loss):    
Change in cumulative translation adjustment, net of tax (4.8) 0.6
Total other comprehensive income (loss) (4.8) 0.6
Comprehensive loss (19.8) (1.9)
Comprehensive income, attributable to noncontrolling interests 1.1 2.6
Comprehensive loss attributable to UCT $ (20.9) $ (4.5)
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Cash flows from operating activities:    
Net loss $ (15.0) $ (2.5)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 12.3 11.7
Amortization of intangible assets 6.9 7.3
Stock-based compensation 3.2 2.9
Amortization of debt issuance costs 0.7 0.6
Loss on extinguishment of debt 3.0 0.0
Loss on disposal of property, plant and equipment 1.0 0.0
Change in the fair value of financial instruments 0.0 (0.1)
Deferred income taxes 14.6 (0.3)
Changes in assets and liabilities:    
Accounts receivable (24.0) 23.1
Inventories (91.0) 6.4
Prepaid expenses and other current assets (7.3) (0.6)
Other non-current assets 1.1 0.2
Accounts payable 68.0 (8.5)
Accrued compensation and related benefits (4.0) (10.4)
Income taxes payable (2.8) (0.7)
Operating lease right-of-use assets and operating lease liabilities 0.4 1.4
Other liabilities (0.4) (2.3)
Net cash provided by (used in) operating activities (33.3) 28.2
Cash flows from investing activities:    
Purchases of property, plant and equipment (9.6) (12.4)
Proceeds from sale of equipment 0.1 0.0
Net cash used in investing activities (9.5) (12.4)
Cash flows from financing activities:    
Proceeds from the issuance of convertible notes 600.0 0.0
Payment of debt issuance costs (15.3) (0.2)
Repurchase of common stock (40.0) 0.0
Payment for capped call transactions (25.1) 0.0
Principal payments on bank borrowings (462.0) (12.0)
Net cash provided by (used in) financing activities 57.6 (12.2)
Effect of exchange rate changes on cash and cash equivalents (3.1) 0.1
Net increase in cash and cash equivalents 11.7 3.7
Cash and cash equivalents at beginning of period 311.8 313.9
Cash and cash equivalents at end of period 323.5 317.6
Supplemental cash flow information:    
Income taxes paid, net of income tax refunds 6.1 8.6
Interest paid 6.6 12.7
Non-cash investing and financing activities:    
Property, plant and equipment purchased included in accounts payable and other liabilities $ 3.3 $ 6.8
v3.26.1
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Total Stockholders’ Equity of UCT
Common Stock
Additional Paid-in Capital
Treasury shares
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Common stock, shares, beginning balance (in shares) at Dec. 27, 2024     45.1          
Treasury stock, shares, beginning balance (in shares) at Dec. 27, 2024         1.5      
Beginning balance at Dec. 27, 2024 $ 935.8 $ 873.6 $ 0.1 $ 558.4 $ (45.0) $ 370.4 $ (10.3) $ 62.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Stock-based compensation expense 2.9 2.9   2.9        
Net income (loss) (2.5) (5.0)       (5.0)   2.5
Other comprehensive income (loss) 0.6 0.5         0.5 0.1
Ending balance at Mar. 28, 2025 $ 936.8 872.0 $ 0.1 561.3 $ (45.0) 365.4 (9.8) 64.8
Common stock, shares, ending balance (in shares) at Mar. 28, 2025     45.1          
Treasury stock, shares, ending balance (in shares) at Mar. 28, 2025         1.5      
Common stock, shares, beginning balance (in shares) at Dec. 26, 2025 45.5   45.5          
Treasury stock, shares, beginning balance (in shares) at Dec. 26, 2025 1.7       1.7      
Beginning balance at Dec. 26, 2025 $ 784.1 711.0 $ 0.1 578.7 $ (48.4) 189.2 (8.6) 73.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Capped call transactions (25.1) (25.1)   (25.1)        
Repurchase of common stock (in shares)     (0.7)   0.7      
Repurchase of common stock   (40.3)     $ (40.3)      
Stock-based compensation expense 3.2 3.2   3.2        
Net income (loss) (15.0) (17.9)       (17.9)   2.9
Other comprehensive income (loss) (4.8) (3.0)         (3.0) (1.8)
Ending balance at Mar. 27, 2026 $ 702.1 $ 627.9 $ 0.1 $ 556.8 $ (88.7) $ 171.3 $ (11.6) $ 74.2
Common stock, shares, ending balance (in shares) at Mar. 27, 2026 44.8   44.8          
Treasury stock, shares, ending balance (in shares) at Mar. 27, 2026 2.4       2.4      
v3.26.1
Organization and Significant Accounting Policies
 3 Months Ended
Mar. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Significant Accounting Policies ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
Organization — Ultra Clean Holdings, Inc., (the “Company” or “UCT”) a Delaware corporation, was founded in November 2002 and became a publicly traded company on the NASDAQ Global Market in March 2004. The Company is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping and part and component manufacturing, as well as tool chamber parts cleaning and coating, and micro-contamination analytical services. The Company’s Products business primarily designs, engineers and manufactures production tools, components and parts, and modules and subsystems for the semiconductor and display capital equipment markets. Products include chemical delivery modules, frame assemblies, gas delivery systems, fluid delivery systems, precision robotics, process modules, sub-fab process equipment support racks, as well as other high-level assemblies. The Company’s Services business provides ultra-high purity parts cleaning, process tool part recoating, surface encapsulation and high sensitivity micro contamination analysis primarily for the semiconductor device makers and wafer fabrication equipment markets.
Basis of Presentation — The unaudited Condensed Consolidated Financial Statements included in this quarterly report on Form 10-Q include the accounts of the Company and its majority-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. This financial information reflects all adjustments which are, in the opinion of the Company, normal, recurring and necessary for a fair statement of the results of operations, financial position, and cash flows for the interim periods presented. Certain information and footnote disclosures normally included in our annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted from the interim financial statements in this Quarterly Report on Form 10-Q. Therefore, these unaudited financial statements should be read in conjunction with the Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 26, 2025.
Fiscal Year — The Company uses a 52-53 week fiscal year. Fiscal year 2026 is a 53-week period ending January 1, 2027, and fiscal year 2025 was a 52-week period ended December 26, 2025. All references to quarters refer to fiscal quarters and all references to years refer to fiscal years.
Principles of Consolidation — The Company’s Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries and all intercompany accounts and transactions have been eliminated upon consolidation.
Significant Accounting Policies — There were no changes to the accounting policies disclosed in Note 1, Organization and Significant Accounting Polices of the Company’s Annual Report on Form 10-K for the year ended December 26, 2025 that had a material impact on the Company’s condensed consolidated financial statements and related notes.
Accounting Standards Recently Adopted
In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. This guidance is to be applied prospectively and is effective for annual periods, including interim periods, beginning after December 15, 2025, with early adoption permitted. The Company adopted this standard in the first quarter of 2026. The adoption did not have a material impact on the Company’s consolidated financial statements or related disclosures.
Accounting Standards Not Yet Adopted
In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU No. 2024-03”) which requires entities to provide disaggregated disclosure of certain expense categories within relevant income statement captions, including, but not limited to, inventory purchases, employee compensation, depreciation, amortization, and depletion. In January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU No. 2025-01”), which
confirmed that the guidance in ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The guidance is required to be applied prospectively, although retrospective application is permitted. The Company is currently evaluating the impact of ASU 2024-03 and ASU 2025-01 on its financial statement disclosures.
In September 2025, the FASB issued ASU No. 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (“ASU No. 2025-06”). The amendments in this update provide targeted improvements to the accounting for internal-use software costs by removing the concept of “project stages,” introducing a new capitalization threshold based on when management authorizes and commits to funding the project, and requiring that capitalization only occur when completion of the software is probable. The ASU also introduces the concept of “significant development uncertainty,” under which capitalization should cease until such uncertainty is resolved. Additionally, the amendments relocate the guidance for website development costs from ASC 350-50 to ASC 350-40 and require expanded disclosures for capitalized internal-use software costs consistent with those for long-lived assets under ASC 360-10. Entities may apply the guidance prospectively, retrospectively, or using a modified retrospective approach, with early adoption permitted. ASU 2025-06 is effective for annual periods beginning after December 15, 2027, and interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”). ASU 2025-10 establishes authoritative guidance on the accounting for government grants received by business entities, including recognition, measurement, presentation, and disclosure requirements. Under the new guidance, a government grant should not be recognized until it is probable that the entity will both (i) comply with the conditions attached to the grant and (ii) receive the grant. The ASU distinguishes between (a) grants related to assets and (b) grants related to income, and requires entities to apply either a deferred-income approach or a cost-accumulation approach for grants related to assets. Grants related to income are to be recognized in earnings on a systematic and rational basis over the periods in which the entity recognizes the related costs. ASU 2025-10 also provides guidance on the accounting for forgivable loans, nonmonetary government grants, and repayments of previously recognized grants. For public business entities, ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim periods within those fiscal years. Early adoption is permitted. The standard permits modified prospective, modified retrospective, or full retrospective adoption approaches. The Company is currently evaluating the impact of ASU 2025-10 on its consolidated financial statements and related disclosures.
In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 provides enhancements and clarifications to the existing interim reporting framework in Topic 270. The amendments establish a comprehensive listing of required interim disclosures, clarify the applicability of interim reporting guidance, and improve navigability and consistency in interim reporting. The ASU also introduces a new disclosure principle that requires entities to disclose events occurring after the end of the most recent annual period that have a material impact on the entity. Additionally, the amendments clarify the types of interim financial statements subject to GAAP (including condensed statements) and provide presentation and content requirements for interim periods. ASU 2025-11 is effective for interim periods within fiscal years beginning after December 15, 2027, for public business entities and after December 15, 2028, for all other entities. Early adoption is permitted, and it may be applied prospectively or retrospectively to prior periods presented. The Company is currently evaluating the impact of ASU 2025-11 on its consolidated financial statement disclosures.
In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements (“ASU No. 2025-12”), which addresses stakeholder feedback and makes incremental improvements to U.S. GAAP. The amendments clarify, correct errors, and make minor improvements to the Accounting Standards Codification to enhance understandability and application. ASU 2025-12 is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company will adopt this guidance in fiscal 2027 and does not expect the adoption to have a material impact on its consolidated financial position, results of operations, or disclosures.
v3.26.1
Balance Sheet Information
 3 Months Ended
Mar. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Information BALANCE SHEET INFORMATION
Accounts Receivable Factoring Agreement
The Company has a receivables factoring arrangement pursuant to which certain receivables are sold to a bank without recourse in exchange for cash. Transactions under this arrangement are accounted for as sales under ASC 860, Transfers and Servicing of Financial Assets, with the sold receivables removed from the Company’s balance sheet. Under this arrangement, the Company does not maintain any beneficial interest in the receivables sold, and the bank’s purchase of eligible receivables is subject to a maximum amount of $25.0 million of uncollected receivables originated within the
United States. The Company services the receivables on behalf of the bank but otherwise maintains no significant continuing involvement with respect to the receivables. Sale proceeds, which are representative of the fair value of factored receivables, less a factoring fee, are reflected in cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows, and the Company did not receive any proceeds in excess of the fair value of factored receivables during the periods presented. During the three-month period ended March 27, 2026, the Company received cash proceeds of $19.0 million from the sales of accounts receivables under this arrangement. As of March 27, 2026, $19.0 million of receivables factored under these arrangements had been sold and removed from the Company’s Consolidated Balance Sheets.
Inventories
Inventories consisted of the following:
(In millions)March 27,
2026		December 26,
2025
Raw materials$267.0 $208.3 
Work in process178.8 148.4 
Finished goods36.1 34.2 
Total$481.9 $390.9 
Property, plant and equipment, net
Property, plant and equipment, net, consisted of the following:
(In millions)March 27,
2026		December 26,
2025
Land$5.7 $5.9 
Buildings53.3 54.3 
Leasehold improvements149.9 148.1 
Machinery and equipment238.3 236.8 
Computer equipment and software96.8 95.9 
Furniture and fixtures4.3 4.2 
548.3 545.2 
Accumulated depreciation(252.9)(243.0)
Construction in progress24.0 22.4 
Total$319.4 $324.6 
Capitalized interest was not significant for the three months ended March 27, 2026, or for the fiscal year ended December 26, 2025.
v3.26.1
Fair Value
 3 Months Ended
Mar. 27, 2026
Fair Value Disclosures [Abstract]  
Fair Value FAIR VALUE
The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following table summarizes, for assets or liabilities measured at fair value, the respective fair value and the classification by level of input within the fair value hierarchy:
Fair Value Measurement at
Reporting Date Using
DescriptionMarch 27, 2026
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Other Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(In millions)
Other non-current assets:
Plan assets$0.3 $— $— $0.3 
Other liabilities:
Pension obligation$2.4 $— $— $2.4 
Fair Value Measurement at
Reporting Date Using
DescriptionDecember 26, 2025
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Other Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(In millions)
Other non-current assets:
Plan assets$0.7 $— $— $0.7 
Other liabilities:
Pension obligation$2.3 $— $— $2.3 
The estimated fair value of pension obligation is based on expected years of service and average compensation. The valuation model used to value pension obligation utilizes mortality rate, inflation, interest rate risks and changes in the life expectancy for pensioners. These assumptions are routinely made in the appraisal process by the independent actuary resulting in a Level 3 classification. As of March 27, 2026, the Company’s aggregate pension benefit obligations was $15.0 million and the fair value of the pension plan assets was $12.9 million, resulting in underfunded pension benefit obligations of $2.1 million. The Company recognizes the overfunded or underfunded status of defined benefit pension plans, measured as the difference between the fair value of the plan assets and the benefit obligation. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability.
There were no transfers in or out of any level during the three months ended March 27, 2026 and March 28, 2025. Fair value adjustments were noncash, and therefore did not impact the Company’s liquidity or capital resources.
v3.26.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 27, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill
Goodwill represents the excess of the consideration transferred over the fair value of tangible and identifiable intangible assets acquired, less liabilities assumed in a business combination. During the three months ended March 27, 2026, the Company did not recognize any impairment charges or additions to goodwill. Details of aggregate goodwill of the Company are as follows:
(In millions)ProductsServicesTotal
Balance at December 26, 2025$114.2 $— $114.2 
Balance at March 27, 2026$114.2 $— $114.2 
Intangible Assets
Intangible assets are generally recorded in connection with business acquisitions and are amortized over their estimated useful lives. The Company evaluates the useful lives of its intangible assets each reporting period and reviews such assets for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.
Details of intangible assets were as follows:
As of March 27, 2026As of December 26, 2025
(Dollars in millions)Useful Life
(In years)		Gross
Carrying
Amount		Accumulated
Amortization 		Carrying
Value		Gross
Carrying
Amount		Accumulated
Amortization		Carrying
Value
Customer relationships
6 - 10
$207.2 $(140.0)$67.2 $207.2 $(135.6)$71.6 
Recipes2073.2 (27.8)45.4 73.2 (26.8)46.4 
Intellectual property/know-how
7 - 15
48.9 (28.3)20.6 48.9 (27.2)21.7 
Tradename
4 - 6*
32.5 (23.5)9.0 32.5 (23.4)9.1 
Standard operating procedures208.6 (3.3)5.3 8.6 (3.2)5.4 
Developed technology54.6 (2.2)2.4 4.6 (2.0)2.6 
Total $375.0 $(225.1)$149.9 $375.0 $(218.2)$156.8 
*The Company concluded that the asset life of UCT tradename of $9.0 million is indefinite and is therefore not amortized but is reviewed for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.
The Company amortizes its intangible assets on a straight-line or accelerated basis over the estimated economic life of the assets. Amortization expense was approximately $6.9 million and $7.3 million for the three months ended March 27, 2026 and March 28, 2025, respectively. Amortization expense related to recipes, standard operating procedures, developed technology and certain intellectual property/know-how is included in cost of revenues, while the remaining amortization expense is included in general and administrative expense. As of March 27, 2026, future estimated amortization expense is expected to be as follows:
(In millions)Amortization
Expense
2026 (remaining in year)$20.4 
202726.9 
202823.8 
202916.2 
203015.3 
Thereafter38.3 
Total$140.9 
v3.26.1
Long-Term Debt
 3 Months Ended
Mar. 27, 2026
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Long-term debt was as follows:
(In millions)March 27, 2026December 26, 2025
Term loan$19.4 $481.4 
Convertible Notes600.0 — 
Total debt$619.4 $481.4 
Current portion, net— (9.9)
Debt issuance costs(17.5)(4.5)
Total long-term debt, net of debt issuance costs$601.9 $467.0 
Term Loan and Revolving Credit Facilities
On February 26, 2026, the Company entered into the Ninth Amendment to the Credit Agreement, dated as of August 27, 2018 (as amended, the “Credit Agreement”), which temporarily increased the maximum permitted Consolidated Total Gross Leverage Ratio financial maintenance covenant (applicable only to the revolving credit facility) to 6.00 to 1.00 for the fiscal periods ending on or about March 31, 2026 and June 30, 2026, subject to the terms and conditions set forth in the amendment.
The term loan facility matures on February 25, 2028 and requires quarterly principal payments of 0.625% of the outstanding principal balance, with the remaining principal paid upon maturity. During the quarter ended March 27, 2026,
the Company made a voluntary prepayment of $459.0 million on its term loan facility. In connection with the prepayment, the Company wrote off $3.0 million of unamortized debt issuance costs related to the prepaid portion of the term loan. The remaining unamortized debt issuance costs continue to be amortized over the remaining term of the facility. As of March 27, 2026, the outstanding balance under the Term Loan of $19.4 million, and the interest rate on the outstanding Term Loan was 6.4%.
The revolving credit facility has aggregate commitments of $150.0 million and a maturity date of August 27, 2027. The Company pays a quarterly commitment fee in arrears equal to 0.25% of the average daily available commitment outstanding. Outstanding letters of credit reduce the availability of the revolving credit facility and, as of March 27, 2026, the Company had $145.9 million, net of $4.1 million of outstanding letters of credit, available under this revolving credit facility. The letter of credit facility has an available commitment of $50.0 million and a maturity date of August 27, 2027. The Company pays a quarterly fee in arrears on the dollar equivalent of all outstanding letters of credit equal to the applicable margin for the revolving credit facility, and a fronting fee equal to 0.125% of the undrawn and unexpired amount of each letter of credit. As of March 27, 2026, the Company had $4.1 million of outstanding letters of credit and $45.9 million of available commitments remaining under the letter of credit facility.
As of March 27, 2026, total unamortized debt issuance costs related to the term loan and the revolving credit facility were $1.0 million.
The Credit Agreement requires the Company to maintain certain financial covenants including a minimum consolidated fixed charge coverage ratio and a maximum consolidated leverage ratio as of the last day of any fiscal quarter. The Company currently has no revolving loans outstanding under the Credit Agreement. As of March 27, 2026, the Company was in compliance with the financial covenants contained within the Credit Agreement.
In addition, the Company maintains credit agreements with financial institutions in Czechia and in Israel, which provide for revolving credit facilities of up to 7.0 million euros (approximately $8.1 million) and $5.0 million, respectively. As of March 27, 2026, there were no borrowings outstanding under these facilities.
As of March 27, 2026, the Company had $145.9 million, $6.4 million and $5.0 million available to draw from its credit facilities in the U.S., Czechia and Israel, respectively.
Convertible Notes and Related Capped Call Transactions
On March 3, 2026, the Company issued $600.0 million principal amount of 0.00% Convertible Senior Notes due 2031 (the “Convertible Notes”) in a private offering, which amount included the full exercise of the initial purchasers’ option to purchase an additional $75.0 million principal amount of the Convertible Notes. The Convertible Notes mature on March 15, 2031 and do not bear regular interest. The total net proceeds from the issuance of the Convertible Notes, after deducting initial purchasers’ discounts and commissions and estimated debt issuance costs, were approximately $583.3 million.
Each $1,000 principal amount of the Convertible Notes is initially convertible into 11.80 shares of the Company’s common stock (the “Conversion Option”), which is equivalent to an initial conversion price of approximately $84.75 per share of common stock, subject to adjustment upon the occurrence of specified events. The initial conversion price represents a premium of approximately 42.5% to the $59.47 per share closing price of the Company’s common stock on February 26, 2026. The Convertible Notes are convertible at the option of the holders prior to the close of business on the business day immediately preceding December 16, 2030, only under the following conditions: (1) during any fiscal quarter (and only during such fiscal quarter) commencing after the fiscal quarter ending on June 26, 2026, if the last reported sale price per share of common stock exceeds 130% of the conversion price for each of at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter; (2) during the 5 consecutive business days immediately after any 10 consecutive trading day period (the “Measurement Period”) in which the trading price per $1,000 principal amount of the Convertible Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of common stock and the conversion rate on such trading day; (3) if the Company calls any Notes for redemption; or (4) upon the occurrence of specified distributions or corporate events. On or after December 16, 2030, holders may convert the Convertible Notes at any time until the close of business on the 2nd scheduled trading day immediately prior to the maturity date regardless of the foregoing conditions. Upon conversion, the Company will pay cash up to the aggregate principal amount of the Convertible Notes to be converted and will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election, in respect of the remainder, if any, of the conversion value in excess of the aggregate principal amount of the Convertible Notes being converted.
If the Company undergoes a fundamental change (as defined in the indenture governing the Convertible Notes), subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their Notes, at a price
equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date.
The Company has the right, at its election, to redeem all or any portion of the Convertible Notes on or after March 20, 2029 and on or before the 40th scheduled trading day immediately preceding the maturity date, at a price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if the Convertible Notes are freely tradable and the last reported sale price per share of common stock exceeds 130% of the conversion price for each of at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding the redemption notice date.
There have been no changes to the initial conversion price of the Convertible Notes since issuance. The closing market price of the Company's common stock of $58.87 per share as of March 27, 2026 was below $110.17 per share, which represents 130% of the initial conversion price of $84.75 per share. Additionally, the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day, March 27, 2026, did not exceed 130% of the initial conversion price. As such, during the three months ended on March 27, 2026, the conditions allowing holders of the Convertible Notes to convert were not met. The Convertible Notes are therefore not convertible during the three months ended on March 27, 2026.
The Convertible Notes are the Company’s senior unsecured obligations and rank equal in right of payment to any of the Company’s existing and future senior, unsecured indebtedness; senior to any of the Company’s existing and future indebtedness that is expressly subordinated to the Convertible Notes; effectively subordinated to any of the Company’s existing and future secured indebtedness to the extent of the value of the collateral securing that indebtedness; and structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and preferred equity, if any, of the Company’s subsidiaries.

The net carrying amount of the Convertible Notes as of March 27, 2026 was as follows (in millions):
(In millions)March 27, 2026
Principal$600.0 
Unamortized issuance costs(16.5)
Net carrying amount$583.5 

Interest expense related to the Convertible Notes for the three months ended March 27, 2026 was $0.2 million, consisting of amortization of debt issuance costs. The Convertible Notes do not bear contractual interest. The debt issuance costs are amortized into interest expense over the term of the Convertible Notes at an effective interest rate of 0.6%.
In connection with the issuance of the Convertible Notes, the Company entered into a privately negotiated capped call transactions (the “Capped Call”) with certain financial institutions. The Capped Call has an initial strike price of approximately $84.75, subject to certain adjustments, which corresponds to the initial conversion price of the Convertible Notes. The Capped Call has an initial cap price of $104.07 per share, subject to certain adjustments. The Capped Call is expected to partially offset the potential dilution to the Company’s common stock upon any conversion of the Convertible Notes, with such offset subject to a cap based on the cap price. The Capped Call is subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, the Capped Call is subject to certain specified additional disruption events that may give rise to a termination of the Capped Call, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings, and hedging disruptions. The Capped Call meets the conditions under the related accounting guidance for equity classification and is recorded in Additional paid-in capital. The Capped Call will not be remeasured as long as it continues to meet the conditions for equity classification.
The fair value of the Company’s long-term debt, which consists of a term loan facility and the Convertible Notes, is based on Level 2 inputs and was determined using quoted prices for the notes and similar instruments in inactive markets as of the last trading day of the reporting period. The Company’s long-term debt has been classified as Level 2 in the fair value hierarchy. As of March 27, 2026, the carrying value of the term loan approximates its fair value, and the estimated fair value of the Convertible Notes was $616.5 million.
v3.26.1
Income Taxes
 3 Months Ended
Mar. 27, 2026
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The Company recorded income tax provision of $19.2 million and $7.4 million for the three months ended March 27, 2026 and March 28, 2025, respectively. The Company’s effective tax rate was 457.1% and 151.0% for the three months ended March 27, 2026 and March 28, 2025, respectively.
The change in respective tax rates reflects, primarily, the impact of a planned distribution of earnings from one of the Company’s foreign subsidiaries in the current year, changes in the geographic mix of worldwide earnings and financial results in jurisdictions which are taxed at different rates and the impact of losses in jurisdictions with full valuation allowances on deferred tax assets. Company management continuously evaluates the need for a valuation allowance and, as of March 27, 2026, concluded that a valuation allowance on its U.S. federal, state and certain foreign deferred tax assets was still appropriate.
The provision for income taxes for the three months ended March 27, 2026 includes the impact of a change in the Company’s assertion regarding the permanent reinvestment of undistributed earnings of one of its China subsidiaries. The Company no longer considers the China subsidiary’s undistributed earnings generated prior to fiscal year 2022 permanently reinvested. As a result of this change in assertion, the Company recorded a discrete income tax expense of $14.8 million in the quarter ended March 27, 2026.
As of March 27, 2026 and December 26, 2025, the Company’s gross liability for unrecognized tax benefits, excluding interest, was $5.8 million and $5.6 million, respectively. Increases or decreases to interest and penalties on uncertain tax positions are included in the income tax provision in the Condensed Consolidated Statements of Operations. Although it is possible that some of the unrecognized tax benefits could be settled within the next twelve months, the Company cannot reasonably estimate the outcome at this time.
The Organization for Economic Cooperation and Development (“OECD”) reached agreement among certain member countries to implement a global minimum tax framework, commonly referred to as Pillar Two, which established a minimum 15 percent income tax rate. Pillar Two did not have a significant impact on the Company's financial statements for fiscal year 2025. This legislation is effective for us in additional jurisdictions beginning in fiscal 2026, most notably in Singapore and Malaysia where we currently enjoy a low tax rate under certain tax incentives. The Company has accounted for the impacts of Pillar Two in its provision for income taxes for the three months ended March 27, 2026.
In July 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law in the U.S. The OBBBA included numerous provisions that affect corporate taxation, including changes to bonus depreciation, the expensing of domestic research costs, and modifications to certain U.S. international tax rules. Certain of the U.S. international provisions of OBBBA became effective in our fiscal 2026 year. The Company has analyzed the impacts of the OBBBA and reflected them in the current period. These impacts did not have a material effect on the provision for income taxes for the three months ended March 27, 2026.
v3.26.1
Retirement Plans
 3 Months Ended
Mar. 27, 2026
Retirement Benefits [Abstract]  
Retirement Plans RETIREMENT PLANS
Defined Benefit Plans
Cinos Korea has a noncontributory defined benefit pension plan covering substantially all of its employees upon their retirement. The Company’s entities in Israel also have noncontributory defined benefit pension plans covering their employees upon their retirement. The benefits for these plans are based on expected years of service and average compensation. The net period costs are recognized as employees render the services necessary to earn the postretirement benefits. The Company records annual amounts relating to the pension plan based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases and turnover rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current and expected rates of return and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in accumulated other comprehensive income and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under the plans are reasonable based on its experience and market conditions.
As of March 27, 2026, the benefit obligation of the plans was $15.0 million and the fair value of the benefit plan assets was $12.9 million which are invested in several fixed deposit accounts with financial institutions. As of March 27, 2026, the underfunded balance of the plans of $2.1 million has been recorded by the Company and is included in other liabilities.
Amounts recognized in accumulated other comprehensive income (loss) and contributions made for the three months ended March 27, 2026 and March 28, 2025 were not material.
As of March 27, 2026, the Company’s future estimated payment obligations for the respective fiscal years are as follows:
(In millions)
2026$1.6 
20271.9 
20282.8 
20291.4 
20301.4 
Thereafter12.2 
Total$21.3 
Employee Savings and Retirement Plan
The Company sponsors a 401(k) savings and retirement plan (the “401(k) Plan”) for all U.S. employees who meet certain eligibility requirements. Participants can elect to contribute to the 401(k) Plan, on a pre-tax basis, up to 25% of their salary to a maximum of the IRS limit. The Company matches 50.0% of each employee's contribution, up to a maximum of 6% of the employee’s eligible earnings. The Company made discretionary employer contributions of $0.9 million and $1.0 million to the 401(k) Plan for the three months ended March 27, 2026 and March 28, 2025, respectively.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 27, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
Commitments
The Company leases real estate and equipment under various non-cancelable operating leases.
Contingencies
From time to time, the Company is subject to various legal proceedings and claims, either asserted or unasserted, that arise in the ordinary course of business. Although the outcome of the various legal proceedings and claims individually or in the aggregate cannot be predicted with certainty, the Company has not had a history of outcomes to date that have been material to the Condensed Consolidated Statements of Operations and does not believe that any of these proceedings or other claims will have a material adverse effect on its consolidated financial condition, results of operations or cash flows.
v3.26.1
Stockholders' Equity and Noncontrolling Interests
 3 Months Ended
Mar. 27, 2026
Noncontrolling Interest [Abstract]  
Stockholders' Equity and Noncontrolling Interests STOCKHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS
Treasury Stock
On October 20, 2022, the Board of Directors approved a share repurchase program authorizing the Company to purchase up to an aggregate of $150 million of the Company’s common stock over a three-year period.
On October 23, 2025, the Board of Directors approved a renewal of the share repurchase program, authorizing the Company to repurchase up to $150.0 million of its common stock over a three-year period. No shares have been repurchased under the renewed program.
During the three months ended March 27, 2026, the Company repurchased 0.7 million shares for $40.3 million through a privately negotiated transaction with one of the initial purchasers of the Company’s convertible notes. These shares are held as treasury stock. The Company accounts for treasury stock using the cost method.
The Company may reissue treasury shares to satisfy obligations under its stock-based compensation programs.
Non-controlling Interests
Noncontrolling interests are recognized to reflect the portion of equity in the Company’s consolidated subsidiaries that is not attributable, directly or indirectly, to the controlling stockholder. The Company’s consolidated entities include partially owned subsidiaries that provide outsourced cleaning and recycling of precision parts for the semiconductor industry through operating facilities in South Korea and China. The ownership interests held by other parties in these subsidiaries are presented as noncontrolling interests in the accompanying Consolidated Financial Statements. Net income (loss) attributable to noncontrolling interests is allocated based on the respective ownership interests and continues to be attributed even if such allocation results in a deficit noncontrolling interests balance.
v3.26.1
Employee Stock Plans
 3 Months Ended
Mar. 27, 2026
Share-Based Payment Arrangement [Abstract]  
Employee Stock Plans EMPLOYEE STOCK PLANS
Employee Stock Plans
The Company grants stock awards in the form of restricted stock units (“RSUs”) and performance stock units (“PSUs”) to its employees as part of the Company’s long-term equity compensation plan. These stock awards are granted to employees with a unit purchase price of zero dollars and typically vest over three years, subject to the employee’s continued service with the Company and, in the case of PSUs, subject to achieving certain performance goals and market conditions. The Company also grants common stock to its board members in the form of restricted stock awards (“RSAs”), which vest on the earlier of the next Annual Shareholder Meeting, or 365 days from date of grant. The aggregate number of shares authorized for issuance under the plan is 12.6 million.
Stock-based compensation expense includes compensation costs related to estimated fair values of awards granted. The estimated fair value of the Company’s equity-based awards is amortized on a straight-line basis over the awards’ vesting period and is adjusted for performance as it relates to PSUs.
The following table shows the Company’s stock-based compensation expense included in the Condensed Consolidated Statements of Operations:
Three Months Ended
(In millions)March 27,
2026		March 28,
2025
Cost of revenues (1)$0.8 $0.4 
Research and development0.1 0.1 
Sales and marketing0.4 0.5 
General and administrative1.9 1.9 
Total stock-based compensation$3.2 $2.9 
(1)Stock-based compensation expense capitalized in inventory for the three months ended March 27, 2026 and March 28, 2025 were immaterial.
Restricted Stock Units, Performance Stock Units and Restricted Stock Awards
The following table summarizes the Company’s combined RSU, PSU and RSA activity for the three months ended March 27, 2026:
(In millions)Number of
Shares 		Aggregate
Intrinsic
Value
Outstanding at December 26, 20251.6$42.3 
Granted0.0
Vested0.0 
Forfeited(0.2)
Outstanding at March 27, 20261.4 83.9 
Expected to vest at March 27, 20261.4$83.9 
No RSUs, PSUs, or RSAs were granted during the three months ended March 27, 2026.
As of March 27, 2026, approximately $23.4 million of unrecognized stock-based compensation cost related to employee and director awards remains to be amortized on a straight-line basis over a weighted average period of 1.7 years, and will be adjusted for subsequent changes in future grants.
Under the current PSU program, the number of PSUs earned and eligible to vest at the end of the performance period is determined based on the achievement of specified performance objectives. Performance is measured over a three-year performance period and is evaluated on an annual basis.
The number of PSUs earned is calculated by applying performance results to the participant’s target award. Performance is based on (i) the Company's average annual revenue goal attainment percentage, (ii) a relative total shareholder return (“TSR”) modifier percentage, and (iii) an average annual operating margin modifier percentage. The relative TSR modifier is based on the Company’s stock price performance compared to a designated peer group, and the operating margin modifier reflects the average annual difference between non-GAAP operating margin achieved and the applicable operating plan.
The percentage of the target award earned may range from zero to 200%, depending on the level of performance achieved and the impact of the applicable performance modifiers. One-third of the target award is allocated to each year of the three-year performance period.
At the end of the three-year performance period, the total number of PSUs earned, if any, reflects the application of the performance formula to the target award, subject to a maximum payout cap of 200% of the target PSUs granted. Earned PSUs vest and are settled in shares of the Company’s common stock in accordance with the terms of the applicable award agreements.
Recipients of PSU awards generally must remain employed by the Company on a continuous basis through the end of the three-year performance period in order to receive any amount of the PSUs covered by that award. In events such as death, disability or retirement, the recipient may be entitled to pro-rata amounts of PSUs as defined in the Plan. Target shares subject to PSU awards do not have voting rights of common stock until earned and issued following the end of the three-year performance period.
Employee Stock Purchase Plan
The ESPP permits employees to purchase common stock at a discount through payroll withholdings at certain specified dates (purchase period) within a defined offering period. The purchase price is 85% of the fair market value of the common stock at the end of the purchase period and is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. The aggregate number of shares authorized for issuance under the plan is 1.1 million.
The Company recorded $0.2 million of expense related to ESPP for each of the three months ended March 27, 2026 and March 28, 2025. No shares were issued under the ESPP during either of these periods.
v3.26.1
Revenue Recognition
 3 Months Ended
Mar. 27, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition REVENUE RECOGNITION
Revenue is recognized when the Company satisfies the performance obligations as evidenced by the transfer of control of the promised goods or services to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.
The Company sells its products and services primarily to customers in the semiconductor capital equipment industry. The Company’s revenues are highly concentrated and therefore highly dependent upon a small number of customers. Typical payment terms with our customers range from thirty to sixty days.
The Company’s products are manufactured and services are provided at the Company’s locations throughout the Americas, Asia Pacific and Europe and the Middle East (“EMEA”). Sales to customers are initiated through a purchase order and are governed by our standard terms and conditions, written agreements, or both. Revenue is recognized when performance obligations under the terms of an agreement with a customer are satisfied; generally, this occurs with the transfer of control of the products or when the Company provides the services. Under the Company’s contracts with customers, the Company does not have an enforceable right to payment that includes a reasonable profit throughout the contract term for products it manufactures that have no alternative use. Consignment sales are recognized in revenue at the earlier of the period that the goods are consumed or after a period of time subsequent to receipt by the customer as specified by terms of the agreement, provided control of the promised goods or services has transferred.
Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales, value-added, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Certain of our customers may receive cash-based incentives, such as rebates or credits, which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. Accruals for unpaid customer rebates of $2.2 million and $1.9 million as of March 27, 2026 and December 26, 2025, were netted against accounts receivable. The Company’s disaggregated revenues are apportioned by segments within the Company’s Condensed Consolidated Statement of Operations. Certain services performed by the Company related to products sold to customers are included in Products revenue in the Condensed Consolidated Statement of Operations. These services are not material for any of the periods presented.
The Company’s principal markets include Americas, Asia Pacific and EMEA. The Company’s foreign operations are conducted primarily through its subsidiaries in China, Czechia, Israel, Malaysia, Singapore, South Korea, Taiwan, and the
United Kingdom. Revenues by geographic area are categorized based on the customer’s location to which the products were shipped or services were performed. The following table sets forth revenue by geographic area (in millions):
Three Months Ended
March 27,
2026		March 28,
2025
Singapore$203.2 $203.6 
United States129.4 119.8 
China24.8 33.3 
Austria57.2 46.1 
South Korea28.2 29.7 
Malaysia24.8 24.5 
Taiwan16.6 13.3 
Others49.5 48.3 
Total$533.7 $518.6 
The Company’s most significant customers (having individually accounted for 10% or more of revenues) are from Products segment and their related revenues as a percentage of total revenues were as follows:
Three Months Ended
March 27,
2026		March 28,
2025
Lam Research Corporation36.7 %36.1 %
Applied Materials, Inc.21.8 22.8 
Total58.5 %58.9 %
Three customers’ gross accounts receivable balances, Lam Research Corporation, Applied Materials, Inc., and ASM International, were individually greater than 10% of gross accounts receivable as of March 27, 2026, in the aggregate approximately 39.0% of the Company’s total gross accounts receivable.
As of December 26, 2025, gross accounts receivable from Lam Research Corporation exceeded 10% of the Company's total gross accounts receivable, representing approximately 17.1% of the total.
v3.26.1
Leases
 3 Months Ended
Mar. 27, 2026
Leases [Abstract]  
Leases LEASESThe Company leases land, offices, facilities and equipment in locations throughout the United States, Asia Pacific and EMEA.
v3.26.1
Net Loss Per Share
 3 Months Ended
Mar. 27, 2026
Earnings Per Share [Abstract]  
Net Loss Per Share NET LOSS PER SHARE
Basic net loss per share is computed by dividing net loss by the weighted-average number of outstanding shares of common stock during the period. Diluted net loss per share is computed using the treasury stock method for stock-based awards, and the if-converted method for convertible notes. Under the treasury stock method, the denominator is adjusted to include, when dilutive, incremental shares issuable upon the assumed exercise of stock options, ESPP shares to be issued, and vesting of service-based and performance-based restricted stock units. Under the if-converted method, the numerator is adjusted to add back interest expense on the convertible notes, net of tax, and the denominator is adjusted to include
incremental shares issuable upon conversion of the convertible notes, when the effect of applying this method is dilutive. The Company has a single class of common stock. The computation of basic and diluted net loss per share is as follows:
Three Months Ended
(In millions, except share amounts)March 27,
2026		March 28,
2025
Numerator:
Net loss attributable to UCT$(17.9)$(5.0)
Denominator:
Shares used in computation — basic:
Basic weighted average common shares outstanding45.345.1
Shares used in computation — diluted:
Weighted average common shares outstanding45.345.1
Effect of potential dilutive securities:
Convertible notes — — 
Employee stock plans— — 
Diluted weighted average common shares outstanding45.345.1
Net loss per share attributable to UCT:
Basic$(0.40)$(0.11)
Diluted$(0.40)$(0.11)
Potential common shares from employee stock plans totaling 1.5 million and 0.3 million for the three months ended March 27, 2026 and March 28, 2025, respectively, as well as approximately 7.1 million shares issuable upon conversion of the Company’s convertible notes, were excluded from the computation of diluted loss per share because their effect would have been antidilutive due to the net loss incurred in those periods.
v3.26.1
Reportable Segments
 3 Months Ended
Mar. 27, 2026
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
The Company’s Chief Executive Officer is the Company’s chief operating decision maker (CODM). The CODM primarily uses income from operations to evaluate each segment’s performance and allocate resources, primarily through periodic budgeting and segment performance reviews. Significant expenses within segment operating profit include cost of revenue, research and development, and selling, general and administrative expenses, which are each separately presented on the Company’s Condensed Consolidated Statements of Operations.
The Company’s reportable segments are determined based on the nature of their revenue streams and the Company’s internal organization structure.
The Company prepared financial results based on two operating segments (Products and Services) and two reportable segments (Products and Services).
The following table describes each segment:
SegmentProduct or ServicesPrimary Markets ServedGeographic Areas
ProductsAssembly
Weldments
Machining
Fabrication		Semiconductor
Americas
Asia Pacific
EMEA
ServicesCleaning
Analytics
Coating		Semiconductor
Americas
Asia Pacific
EMEA
The CODM uses segment operating profit or loss to evaluate performance and to allocate capital resources. Segment operating profit or loss is defined as a segment’s income or loss from continuing operations before interest and other income (expense), net and provision for income taxes. Any intercompany sales and associated profit (and any other intercompany items) are eliminated from segment results.
Segment Data
Three Months Ended
(In millions)March 27,
2026		March 28,
2025
Revenues:
Products$465.7 $457.0 
Services68.0 61.6 
Total segment revenues$533.7 $518.6 
Cost of revenues:
Products$400.7 $390.3 
Services48.6 44.3 
Total segment cost of revenues$449.3 $434.6 
Operating expenses:
Products
Research and development$6.1 $5.2 
Sales and marketing12.212.0
General and administrative39.739.4
Total Products operating expenses$58.0 $56.6 
Services
Research and development$2.4 $2.4 
Sales and marketing3.32.9
General and administrative9.3 9.2 
Total Services operating expenses$15.0 $14.5 
Total segment operating expenses$73.0 $71.1 
Segment operating profit:
Products$7.0 $10.1 
Services4.4 2.8 
Total segment operating profit$11.4 $12.9 
Reconciliation of segment operating profit:
Total segment operating profit$11.4 $12.9 
Interest income1.41.1
Interest expense(7.3)(9.9)
Other income (expense), net(1.3)0.8 
Income before provision for income taxes$4.2 $4.9 
Expenditures for segment property, plant and equipment
Products$6.8 $9.3 
Services2.8 3.2 
Total expenditures for segment assets$9.6 $12.5 
Depreciation and amortization
Products$12.8 $12.7 
Services6.4 6.4 
Total depreciation and amortization$19.2 $19.1 
(In millions)March 27,
2026		December 26,
2025
Assets
Products$1,561.2 $1,446.0 
Services294.0 283.0 
Total segment assets$1,855.2 $1,729.0 
Long-lived assets comprised of operating lease right-of-use assets and property, plant and equipment, net, are reported based on the location of the asset. The carrying amount of long-lived assets in United States, Malaysia, Israel, South Korea and other foreign countries were $167.1 million, $82.3 million, $67.6 million, $47.2 million and $113.6 million, respectively as of March 27, 2026, and $172.6 million, $81.0 million, $69.6 million, $50.0 million and $108.4 million, respectively as of December 26, 2025.
v3.26.1
Subsequent Events
 3 Months Ended
Mar. 27, 2026
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
On April 23, 2026, the Company entered into the Tenth Amendment (the “Tenth Amendment”) to its Credit Agreement. The Tenth Amendment, among other things, increased the aggregate revolving credit commitment from $150.0 million to $250.0 million, extended the maturity date to April 23, 2031, reduced the applicable interest rate margin, and modified certain financial covenants and other provisions to provide additional flexibility. All other material terms of the Credit Agreement, including the term loan facility, remained unchanged. In addition, the Company prepaid the remaining $19.4 million outstanding under its term loan facility.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 27, 2026
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
v3.26.1
Organization and Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation — The unaudited Condensed Consolidated Financial Statements included in this quarterly report on Form 10-Q include the accounts of the Company and its majority-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. This financial information reflects all adjustments which are, in the opinion of the Company, normal, recurring and necessary for a fair statement of the results of operations, financial position, and cash flows for the interim periods presented. Certain information and footnote disclosures normally included in our annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted from the interim financial statements in this Quarterly Report on Form 10-Q. Therefore, these unaudited financial statements should be read in conjunction with the Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 26, 2025.
Fiscal Year
Fiscal Year — The Company uses a 52-53 week fiscal year. Fiscal year 2026 is a 53-week period ending January 1, 2027, and fiscal year 2025 was a 52-week period ended December 26, 2025. All references to quarters refer to fiscal quarters and all references to years refer to fiscal years.
Principles of Consolidation Principles of Consolidation — The Company’s Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries and all intercompany accounts and transactions have been eliminated upon consolidation.
Accounting Standards Recently Adopted and Accounting Standards Not Yet Adopted Accounting Standards Recently Adopted
In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606. This guidance is to be applied prospectively and is effective for annual periods, including interim periods, beginning after December 15, 2025, with early adoption permitted. The Company adopted this standard in the first quarter of 2026. The adoption did not have a material impact on the Company’s consolidated financial statements or related disclosures.
Accounting Standards Not Yet Adopted
In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU No. 2024-03”) which requires entities to provide disaggregated disclosure of certain expense categories within relevant income statement captions, including, but not limited to, inventory purchases, employee compensation, depreciation, amortization, and depletion. In January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU No. 2025-01”), which
confirmed that the guidance in ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The guidance is required to be applied prospectively, although retrospective application is permitted. The Company is currently evaluating the impact of ASU 2024-03 and ASU 2025-01 on its financial statement disclosures.
In September 2025, the FASB issued ASU No. 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract (“ASU No. 2025-06”). The amendments in this update provide targeted improvements to the accounting for internal-use software costs by removing the concept of “project stages,” introducing a new capitalization threshold based on when management authorizes and commits to funding the project, and requiring that capitalization only occur when completion of the software is probable. The ASU also introduces the concept of “significant development uncertainty,” under which capitalization should cease until such uncertainty is resolved. Additionally, the amendments relocate the guidance for website development costs from ASC 350-50 to ASC 350-40 and require expanded disclosures for capitalized internal-use software costs consistent with those for long-lived assets under ASC 360-10. Entities may apply the guidance prospectively, retrospectively, or using a modified retrospective approach, with early adoption permitted. ASU 2025-06 is effective for annual periods beginning after December 15, 2027, and interim periods within those fiscal years. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.
In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”). ASU 2025-10 establishes authoritative guidance on the accounting for government grants received by business entities, including recognition, measurement, presentation, and disclosure requirements. Under the new guidance, a government grant should not be recognized until it is probable that the entity will both (i) comply with the conditions attached to the grant and (ii) receive the grant. The ASU distinguishes between (a) grants related to assets and (b) grants related to income, and requires entities to apply either a deferred-income approach or a cost-accumulation approach for grants related to assets. Grants related to income are to be recognized in earnings on a systematic and rational basis over the periods in which the entity recognizes the related costs. ASU 2025-10 also provides guidance on the accounting for forgivable loans, nonmonetary government grants, and repayments of previously recognized grants. For public business entities, ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, and interim periods within those fiscal years. Early adoption is permitted. The standard permits modified prospective, modified retrospective, or full retrospective adoption approaches. The Company is currently evaluating the impact of ASU 2025-10 on its consolidated financial statements and related disclosures.
In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 provides enhancements and clarifications to the existing interim reporting framework in Topic 270. The amendments establish a comprehensive listing of required interim disclosures, clarify the applicability of interim reporting guidance, and improve navigability and consistency in interim reporting. The ASU also introduces a new disclosure principle that requires entities to disclose events occurring after the end of the most recent annual period that have a material impact on the entity. Additionally, the amendments clarify the types of interim financial statements subject to GAAP (including condensed statements) and provide presentation and content requirements for interim periods. ASU 2025-11 is effective for interim periods within fiscal years beginning after December 15, 2027, for public business entities and after December 15, 2028, for all other entities. Early adoption is permitted, and it may be applied prospectively or retrospectively to prior periods presented. The Company is currently evaluating the impact of ASU 2025-11 on its consolidated financial statement disclosures.
In December 2025, the FASB issued ASU No. 2025-12, Codification Improvements (“ASU No. 2025-12”), which addresses stakeholder feedback and makes incremental improvements to U.S. GAAP. The amendments clarify, correct errors, and make minor improvements to the Accounting Standards Codification to enhance understandability and application. ASU 2025-12 is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company will adopt this guidance in fiscal 2027 and does not expect the adoption to have a material impact on its consolidated financial position, results of operations, or disclosures.
v3.26.1
Balance Sheet Information (Tables)
 3 Months Ended
Mar. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Inventories
Inventories consisted of the following:
(In millions)March 27,
2026		December 26,
2025
Raw materials$267.0 $208.3 
Work in process178.8 148.4 
Finished goods36.1 34.2 
Total$481.9 $390.9 
Summary of Property, Plant and Equipment, Net
Property, plant and equipment, net, consisted of the following:
(In millions)March 27,
2026		December 26,
2025
Land$5.7 $5.9 
Buildings53.3 54.3 
Leasehold improvements149.9 148.1 
Machinery and equipment238.3 236.8 
Computer equipment and software96.8 95.9 
Furniture and fixtures4.3 4.2 
548.3 545.2 
Accumulated depreciation(252.9)(243.0)
Construction in progress24.0 22.4 
Total$319.4 $324.6 
v3.26.1
Fair Value (Tables)
 3 Months Ended
Mar. 27, 2026
Fair Value Disclosures [Abstract]  
Summary of Assets or Liabilities Measured at Fair Value The following table summarizes, for assets or liabilities measured at fair value, the respective fair value and the classification by level of input within the fair value hierarchy:
Fair Value Measurement at
Reporting Date Using
DescriptionMarch 27, 2026
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Other Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(In millions)
Other non-current assets:
Plan assets$0.3 $— $— $0.3 
Other liabilities:
Pension obligation$2.4 $— $— $2.4 
Fair Value Measurement at
Reporting Date Using
DescriptionDecember 26, 2025
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Other Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(In millions)
Other non-current assets:
Plan assets$0.7 $— $— $0.7 
Other liabilities:
Pension obligation$2.3 $— $— $2.3 
v3.26.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 27, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Details of Goodwill Details of aggregate goodwill of the Company are as follows:
(In millions)ProductsServicesTotal
Balance at December 26, 2025$114.2 $— $114.2 
Balance at March 27, 2026$114.2 $— $114.2 
Summary of Purchased Intangible Assets
Details of intangible assets were as follows:
As of March 27, 2026As of December 26, 2025
(Dollars in millions)Useful Life
(In years)		Gross
Carrying
Amount		Accumulated
Amortization 		Carrying
Value		Gross
Carrying
Amount		Accumulated
Amortization		Carrying
Value
Customer relationships
6 - 10
$207.2 $(140.0)$67.2 $207.2 $(135.6)$71.6 
Recipes2073.2 (27.8)45.4 73.2 (26.8)46.4 
Intellectual property/know-how
7 - 15
48.9 (28.3)20.6 48.9 (27.2)21.7 
Tradename
4 - 6*
32.5 (23.5)9.0 32.5 (23.4)9.1 
Standard operating procedures208.6 (3.3)5.3 8.6 (3.2)5.4 
Developed technology54.6 (2.2)2.4 4.6 (2.0)2.6 
Total $375.0 $(225.1)$149.9 $375.0 $(218.2)$156.8 
*The Company concluded that the asset life of UCT tradename of $9.0 million is indefinite and is therefore not amortized but is reviewed for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.
Summary of Future Estimated Amortization Expense As of March 27, 2026, future estimated amortization expense is expected to be as follows:
(In millions)Amortization
Expense
2026 (remaining in year)$20.4 
202726.9 
202823.8 
202916.2 
203015.3 
Thereafter38.3 
Total$140.9 
v3.26.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 27, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Long-term debt was as follows:
(In millions)March 27, 2026December 26, 2025
Term loan$19.4 $481.4 
Convertible Notes600.0 — 
Total debt$619.4 $481.4 
Current portion, net— (9.9)
Debt issuance costs(17.5)(4.5)
Total long-term debt, net of debt issuance costs$601.9 $467.0 
Schedule of Net Carrying Amount of Notes
The net carrying amount of the Convertible Notes as of March 27, 2026 was as follows (in millions):
(In millions)March 27, 2026
Principal$600.0 
Unamortized issuance costs(16.5)
Net carrying amount$583.5 
v3.26.1
Retirement Plans (Tables)
 3 Months Ended
Mar. 27, 2026
Retirement Benefits [Abstract]  
Schedule of Future Payment Obligations
As of March 27, 2026, the Company’s future estimated payment obligations for the respective fiscal years are as follows:
(In millions)
2026$1.6 
20271.9 
20282.8 
20291.4 
20301.4 
Thereafter12.2 
Total$21.3 
v3.26.1
Employee Stock Plans (Tables)
 3 Months Ended
Mar. 27, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense Included in Condensed Consolidated Statements of Operations
The following table shows the Company’s stock-based compensation expense included in the Condensed Consolidated Statements of Operations:
Three Months Ended
(In millions)March 27,
2026		March 28,
2025
Cost of revenues (1)$0.8 $0.4 
Research and development0.1 0.1 
Sales and marketing0.4 0.5 
General and administrative1.9 1.9 
Total stock-based compensation$3.2 $2.9 
(1)Stock-based compensation expense capitalized in inventory for the three months ended March 27, 2026 and March 28, 2025 were immaterial.
Summary of Restricted Stock Unit, Performance Stock Units and Restricted Stock Award Activity
The following table summarizes the Company’s combined RSU, PSU and RSA activity for the three months ended March 27, 2026:
(In millions)Number of
Shares 		Aggregate
Intrinsic
Value
Outstanding at December 26, 20251.6$42.3 
Granted0.0
Vested0.0 
Forfeited(0.2)
Outstanding at March 27, 20261.4 83.9 
Expected to vest at March 27, 20261.4$83.9 
v3.26.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 27, 2026
Revenue from Contract with Customer [Abstract]  
Summary of Revenue by Geographic Area The following table sets forth revenue by geographic area (in millions):
Three Months Ended
March 27,
2026		March 28,
2025
Singapore$203.2 $203.6 
United States129.4 119.8 
China24.8 33.3 
Austria57.2 46.1 
South Korea28.2 29.7 
Malaysia24.8 24.5 
Taiwan16.6 13.3 
Others49.5 48.3 
Total$533.7 $518.6 
Summary of the Most Significant Customers
The Company’s most significant customers (having individually accounted for 10% or more of revenues) are from Products segment and their related revenues as a percentage of total revenues were as follows:
Three Months Ended
March 27,
2026		March 28,
2025
Lam Research Corporation36.7 %36.1 %
Applied Materials, Inc.21.8 22.8 
Total58.5 %58.9 %
v3.26.1
Net Loss Per Share (Tables)
 3 Months Ended
Mar. 27, 2026
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Income Per Share The computation of basic and diluted net loss per share is as follows:
Three Months Ended
(In millions, except share amounts)March 27,
2026		March 28,
2025
Numerator:
Net loss attributable to UCT$(17.9)$(5.0)
Denominator:
Shares used in computation — basic:
Basic weighted average common shares outstanding45.345.1
Shares used in computation — diluted:
Weighted average common shares outstanding45.345.1
Effect of potential dilutive securities:
Convertible notes — — 
Employee stock plans— — 
Diluted weighted average common shares outstanding45.345.1
Net loss per share attributable to UCT:
Basic$(0.40)$(0.11)
Diluted$(0.40)$(0.11)
v3.26.1
Reportable Segments (Tables)
 3 Months Ended
Mar. 27, 2026
Segment Reporting [Abstract]  
Summary of Segment Description and Data
The following table describes each segment:
SegmentProduct or ServicesPrimary Markets ServedGeographic Areas
ProductsAssembly
Weldments
Machining
Fabrication		Semiconductor
Americas
Asia Pacific
EMEA
ServicesCleaning
Analytics
Coating		Semiconductor
Americas
Asia Pacific
EMEA
Segment Data
Three Months Ended
(In millions)March 27,
2026		March 28,
2025
Revenues:
Products$465.7 $457.0 
Services68.0 61.6 
Total segment revenues$533.7 $518.6 
Cost of revenues:
Products$400.7 $390.3 
Services48.6 44.3 
Total segment cost of revenues$449.3 $434.6 
Operating expenses:
Products
Research and development$6.1 $5.2 
Sales and marketing12.212.0
General and administrative39.739.4
Total Products operating expenses$58.0 $56.6 
Services
Research and development$2.4 $2.4 
Sales and marketing3.32.9
General and administrative9.3 9.2 
Total Services operating expenses$15.0 $14.5 
Total segment operating expenses$73.0 $71.1 
Segment operating profit:
Products$7.0 $10.1 
Services4.4 2.8 
Total segment operating profit$11.4 $12.9 
Reconciliation of segment operating profit:
Total segment operating profit$11.4 $12.9 
Interest income1.41.1
Interest expense(7.3)(9.9)
Other income (expense), net(1.3)0.8 
Income before provision for income taxes$4.2 $4.9 
Expenditures for segment property, plant and equipment
Products$6.8 $9.3 
Services2.8 3.2 
Total expenditures for segment assets$9.6 $12.5 
Depreciation and amortization
Products$12.8 $12.7 
Services6.4 6.4 
Total depreciation and amortization$19.2 $19.1 
(In millions)March 27,
2026		December 26,
2025
Assets
Products$1,561.2 $1,446.0 
Services294.0 283.0 
Total segment assets$1,855.2 $1,729.0 
v3.26.1
Balance Sheet Information - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 27, 2026
USD ($)
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]  
Cash proceeds from sales of accounts receivables $ 19.0
Uncollected receivables sold and removed from Company's balance sheet 19.0
United States  
Contractually Specified Servicing Fees, Late Fees, and Ancillary Fees Earned in Exchange for Servicing Financial Assets [Line Items]  
Factoring arrangement, maximum uncollectable receivables approved to be sold $ 25.0
v3.26.1
Balance Sheet Information - Summary of Inventories (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Raw materials $ 267.0 $ 208.3
Work in process 178.8 148.4
Finished goods 36.1 34.2
Total $ 481.9 $ 390.9
v3.26.1
Balance Sheet Information - Property, Plant and Equipment, Net (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Property, Plant and Equipment Line Items    
Property, plant, and equipment, net, excluding construction in progress $ 548.3 $ 545.2
Accumulated depreciation (252.9) (243.0)
Construction in progress 24.0 22.4
Total 319.4 324.6
Land    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross 5.7 5.9
Buildings    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross 53.3 54.3
Leasehold improvements    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross 149.9 148.1
Machinery and equipment    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross 238.3 236.8
Computer equipment and software    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross 96.8 95.9
Furniture and fixtures    
Property, Plant and Equipment Line Items    
Equipment and leasehold improvements, gross $ 4.3 $ 4.2
v3.26.1
Fair Value - Schedule of Fair Value, Assets and Liabilities Measured (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Plan assets    
Other non-current assets:    
Assets $ 0.3 $ 0.7
Pension obligation    
Other liabilities:    
Liabilities 2.4 2.3
Quoted Prices in Active Markets for Identical Assets (Level 1) | Plan assets    
Other non-current assets:    
Assets 0.0 0.0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension obligation    
Other liabilities:    
Liabilities 0.0 0.0
Significant Other Observable Inputs (Level 2) | Plan assets    
Other non-current assets:    
Assets 0.0 0.0
Significant Other Observable Inputs (Level 2) | Pension obligation    
Other liabilities:    
Liabilities 0.0 0.0
Significant Unobservable Inputs (Level 3) | Plan assets    
Other non-current assets:    
Assets 0.3 0.7
Significant Unobservable Inputs (Level 3) | Pension obligation    
Other liabilities:    
Liabilities $ 2.4 $ 2.3
v3.26.1
Fair Value - Additional Information (Details)
$ in Millions
Mar. 27, 2026
USD ($)
Fair Value Disclosures [Abstract]  
Aggregate pension benefit obligations $ 15.0
Fair value of benefit plan assets 12.9
Unfunded balance of benefit plan $ 2.1
v3.26.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill impairment $ 0  
Goodwill additions 0  
Amortization of intangible assets $ 6,900,000 $ 7,300,000
v3.26.1
Goodwill and Intangible Assets - Details of Goodwill (Details)
$ in Millions
Mar. 27, 2026
USD ($)
Goodwill [Roll Forward]  
Goodwill $ 114.2
Goodwill 114.2
Products  
Goodwill [Roll Forward]  
Goodwill 114.2
Goodwill 114.2
Services  
Goodwill [Roll Forward]  
Goodwill 0.0
Goodwill $ 0.0
v3.26.1
Goodwill and Intangible Assets - Purchased Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Dec. 26, 2025
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Amount, Finite and Indefinite-Lived $ 375.0 $ 375.0
Accumulated Amortization (225.1) (218.2)
Total 140.9  
Carrying Value 149.9 156.8
UCT Tradename    
Finite Lived Intangible Assets [Line Items]    
Indefinite lived intangible assets acquired 9.0  
Customer relationships    
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Amount 207.2 207.2
Accumulated Amortization (140.0) (135.6)
Total $ 67.2 71.6
Customer relationships | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 6 years  
Customer relationships | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 10 years  
Recipes    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 20 years  
Gross Carrying Amount $ 73.2 73.2
Accumulated Amortization (27.8) (26.8)
Total 45.4 46.4
Intellectual property/know-how    
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Amount 48.9 48.9
Accumulated Amortization (28.3) (27.2)
Total $ 20.6 21.7
Intellectual property/know-how | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 7 years  
Intellectual property/know-how | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 15 years  
Tradename    
Finite Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 32.5 32.5
Accumulated Amortization (23.5) (23.4)
Total $ 9.0 9.1
Tradename | Minimum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 4 years  
Tradename | Maximum    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 6 years  
Standard operating procedures    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 20 years  
Gross Carrying Amount $ 8.6 8.6
Accumulated Amortization (3.3) (3.2)
Total $ 5.3 5.4
Developed technology    
Finite Lived Intangible Assets [Line Items]    
Useful Life (In years) 5 years  
Gross Carrying Amount $ 4.6 4.6
Accumulated Amortization (2.2) (2.0)
Total $ 2.4 $ 2.6
v3.26.1
Goodwill and Intangible Assets - Future Estimated Amortization Expense (Details)
$ in Millions
Mar. 27, 2026
USD ($)
Amortization Expense  
2026 (remaining in year) $ 20.4
2027 26.9
2028 23.8
2029 16.2
2030 15.3
Thereafter 38.3
Total $ 140.9
v3.26.1
Long-Term Debt - Schedule of Long Term Debt (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Debt Instrument [Line Items]    
Total debt $ 619.4 $ 481.4
Current portion, net 0.0 (9.9)
Debt issuance costs (17.5) (4.5)
Net carrying amount 601.9 467.0
Term Loan | Secured Debt    
Debt Instrument [Line Items]    
Total debt 19.4 481.4
Convertible Notes | Convertible Notes    
Debt Instrument [Line Items]    
Total debt 600.0 $ 0.0
Net carrying amount $ 583.5  
v3.26.1
Long-Term Debt - Term and Revolving Credit Facilities (Details)
€ in Millions, $ in Millions
 3 Months Ended
Feb. 26, 2026
USD ($)
Mar. 27, 2026
USD ($)
Mar. 27, 2026
EUR (€)
Dec. 26, 2025
USD ($)
Debt Instrument [Line Items]        
Principal   $ 619.4   $ 481.4
Secured Debt | Line of Credit | Term Loan Credit Facility        
Debt Instrument [Line Items]        
Percentage of original outstanding principal balance as quarterly principal payment 0.625%      
Voluntary prepayment   459.0    
Unamortized debt issuance costs, wrote off   3.0    
Principal   $ 19.4    
Term loan, interest rate   6.40% 6.40%  
Revolving Credit Facility        
Debt Instrument [Line Items]        
Debt instrument covenant, maximum permitted consolidated total gross leverage ratio 6.00      
Revolving credit commitment $ 150.0 $ 150.0    
Commitment fee percentage   0.25%    
Remaining available commitments   $ 145.9    
Outstanding amount under credit facility   4.1    
Revolving Credit Facility | Czech Republic | Bank Debt        
Debt Instrument [Line Items]        
Revolving credit commitment   8.1 € 7.0  
Remaining available commitments   6.4    
Revolving Credit Facility | Israel | Bank Debt        
Debt Instrument [Line Items]        
Revolving credit commitment   5.0    
Remaining available commitments   5.0    
Revolving Credit Facility | United States | Bank Debt        
Debt Instrument [Line Items]        
Remaining available commitments   145.9    
Letter of Credit Facility        
Debt Instrument [Line Items]        
Revolving credit commitment   50.0    
Remaining available commitments   45.9    
Outstanding amount under credit facility   $ 4.1    
Percentage of undrawn and unexpired amount of letter of credit as fronting fee   0.125%    
Term Loan And Revolving Credit Facility        
Debt Instrument [Line Items]        
Unamortized debt issuance costs   $ 1.0    
v3.26.1
Long-Term Debt - Convertible Senior Notes and Related Capped Call Transactions (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 27, 2026
USD ($)
day
$ / shares
Mar. 03, 2026
USD ($)
day
$ / shares
Mar. 27, 2026
USD ($)
$ / shares
Mar. 28, 2025
USD ($)
Feb. 26, 2026
$ / shares
Debt Instrument [Line Items]          
Proceeds from the issuance of convertible notes | $     $ 600.0 $ 0.0  
Closing price of common stock (in dollars per share) | $ / shares $ 58.87   $ 58.87   $ 59.47
Convertible Notes | Convertible Notes          
Debt Instrument [Line Items]          
Aggregate principal amount of debt | $   $ 600.0      
Stated interest rate on debt (as a percent)   0.00%      
Option to purchase additional debt through private offering | $   $ 75.0      
Proceeds from the issuance of convertible notes | $   $ 583.3      
Conversion ratio   0.0118      
Conversion price on convertible debt (in dollars per share) | $ / shares   $ 84.75      
Premium on conversion price in relation to closing price (as a percent)   42.50%      
Debt redemption price as percentage of principal amount   100.00%      
Share price of common stock with conversion premium (in dollars per share) | $ / shares $ 110.17   $ 110.17    
Amortization of debt issuance costs | $     $ 0.2    
Effective interest rate 0.60%   0.60%    
Cap initial strike price (in dollars per share) | $ / shares     $ 84.75    
Cap price of the capped call transactions (in dollars per share) | $ / shares     $ 104.07    
Estimated fair value of notes | $ $ 616.5   $ 616.5    
Convertible Notes | Convertible Notes | Debt Instrument, Redemption, Period One          
Debt Instrument [Line Items]          
Threshold percentage of stock price trigger 130.00% 130.00%      
Number of trading days | day 20 20      
Number of consecutive trading days | day 30 30      
Debt redemption price as percentage of principal amount   100.00%      
Convertible Notes | Convertible Notes | Debt Instrument, Convertible, Term One          
Debt Instrument [Line Items]          
Threshold percentage of stock price trigger   130.00%      
Number of trading days | day   20      
Number of consecutive trading days | day   30      
Convertible Notes | Convertible Notes | Debt Instrument, Convertible, Term Two          
Debt Instrument [Line Items]          
Threshold percentage of stock price trigger   98.00%      
Number of trading days | day   5      
Number of consecutive trading days | day   10      
v3.26.1
Long-Term Debt - Schedule of Net Carrying Amount of the Liability Component of the Notes (Details) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 26, 2025
Debt Instrument [Line Items]    
Principal $ 619.4 $ 481.4
Net carrying amount 601.9 467.0
Convertible Notes | Convertible Notes    
Debt Instrument [Line Items]    
Principal 600.0 $ 0.0
Unamortized issuance costs (16.5)  
Net carrying amount $ 583.5  
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Dec. 26, 2025
Income Tax Disclosure [Abstract]      
Income tax provision $ 19.2 $ 7.4  
Effective tax rate 457.10% 151.00%  
Discrete income tax expense $ 14.8    
Gross liability for unrecognized tax benefits, excluding interest $ 5.8   $ 5.6
v3.26.1
Retirement Plans - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Defined Contribution Plan Disclosure [Line Items]    
Benefit obligations $ 15.0  
Fair value of benefit plan assets 12.9  
Unfunded balance of benefit plan $ 2.1  
Maximum contribution from salary, percent 25.00%  
Employer matching contribution, percent of match 50.00%  
Discretionary employer contributions $ 0.9 $ 1.0
Maximum    
Defined Contribution Plan Disclosure [Line Items]    
Employer matching contribution, percent of employees' gross pay 6.00%  
v3.26.1
Retirement Plans - Schedule of Future Payment Obligations (Details)
$ in Millions
Mar. 27, 2026
USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2026 $ 1.6
2027 1.9
2028 2.8
2029 1.4
2030 1.4
Thereafter 12.2
Total $ 21.3
v3.26.1
Stockholders' Equity and Noncontrolling Interests (Details) - Common Stock - USD ($)
shares in Millions
 3 Months Ended
Oct. 23, 2025
Oct. 20, 2022
Mar. 27, 2026
Business Combination [Line Items]      
Share repurchase program, authorized amount $ 150,000,000.0 $ 150,000,000  
Repurchase program, period 3 years 3 years  
Repurchase of shares (in shares) 0.0   0.7
Repurchase of shares     $ 40,300,000
v3.26.1
Employee Stock Plans - Additional Information (Details) - USD ($)
shares in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation cost $ 23,400,000  
Estimated period of options amortization 1 year 8 months 12 days  
Employee Stock Purchase Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of shares authorized (in shares) 1.1  
Employee common stock fair market value rate 85.00%  
Stock based compensation expense $ 200,000 $ 200,000
Number of shares of common stock issued under ESPP (in shares) 0.0 0.0
Restricted Stock Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares vesting period from date of grant 365 days  
Number of shares authorized (in shares) 12.6  
Restricted Stock Units | Employees    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unit purchase price of Restricted Stock Units $ 0  
Shares vesting period, years 3 years  
Performance Stock Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award performance period 3 years  
Percentage expected target award range, minimum 0.00%  
Percentage expected target award range, maximum 200.00%  
Percentage of maximum payout cap 200.00%  
v3.26.1
Employee Stock Plans - Summary of Stock-Based Compensation Expense Included in Condensed Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation $ 3.2 $ 2.9
Cost of revenues    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation 0.8 0.4
Research and development    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation 0.1 0.1
Sales and marketing    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation 0.4 0.5
General and administrative    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation $ 1.9 $ 1.9
v3.26.1
Employee Stock Plans - Summary of Restricted Stock Unit, Performance Stock Units and Restricted Stock Award Activity (Details) - Restricted Stock Unit, Performance Stock Units and Restricted Stock Award - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 27, 2026
Dec. 26, 2025
Number of Shares    
Unvested restricted stock units and restricted stock awards, beginning balance (in shares) 1.6  
Granted (in shares) 0.0  
Vested (in shares) 0.0  
Forfeited (in shares) (0.2)  
Unvested restricted stock units and restricted stock awards, ending balance (in shares) 1.4  
Vested and expected to vest restricted stock units and restricted stock awards (in shares) 1.4  
Unvested restricted stock units and restricted stock awards $ 83.9 $ 42.3
Expected to vest at March 27, 2026 $ 83.9  
v3.26.1
Revenue Recognition - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 27, 2026
Dec. 26, 2025
Applied Materials, Inc, Lam Research Corporation, And ASM International | Accounts Receivable | Customer Concentration Risk    
Concentration Risk [Line Items]    
Concentration percentage 39.00%  
Lam Research Corporation | Accounts Receivable | Customer Concentration Risk    
Concentration Risk [Line Items]    
Concentration percentage   17.10%
Accounts Receivable    
Concentration Risk [Line Items]    
Unpaid customer rebates $ 2.2 $ 1.9
Minimum    
Concentration Risk [Line Items]    
Customer payment terms 30 days  
Maximum    
Concentration Risk [Line Items]    
Customer payment terms 60 days  
v3.26.1
Revenue Recognition - Summary of Revenue by Geographic Area (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues $ 533.7 $ 518.6
Singapore    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 203.2 203.6
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 129.4 119.8
China    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 24.8 33.3
Austria    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 57.2 46.1
South Korea    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 28.2 29.7
Malaysia    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 24.8 24.5
Taiwan    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues 16.6 13.3
Others    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenues $ 49.5 $ 48.3
v3.26.1
Revenue Recognition - Summary of the Most Significant Customers (Details) - Sales - Customer Concentration Risk
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Lam Research Corporation    
Concentration Risk [Line Items]    
Total 36.70% 36.10%
Applied Materials, Inc.    
Concentration Risk [Line Items]    
Total 21.80% 22.80%
Total    
Concentration Risk [Line Items]    
Total 58.50% 58.90%
v3.26.1
Net Loss Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Numerator:    
Net loss attributable to UCT $ (17.9) $ (5.0)
Denominator:    
Basic weighted average common shares outstanding (in shares) 45.3 45.1
Effect of potential dilutive securities:    
Convertible notes (in shares) 0.0 0.0
Employee stock plans (in shares) 0.0 0.0
Diluted weighted average common shares outstanding (in shares) 45.3 45.1
Net loss per share attributable to UCT:    
Basic (in dollars per share) $ (0.40) $ (0.11)
Diluted (in dollars per share) $ (0.40) $ (0.11)
v3.26.1
Net Loss Per Share - Narrative (Details) - shares
shares in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Employee Stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potential common shares from employee stock plans (in shares) 1.5 0.3
Convertible Notes    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Potential common shares from employee stock plans (in shares) 7.1 7.1
v3.26.1
Reportable Segments - Additional Information (Details)
$ in Millions
 3 Months Ended
Mar. 27, 2026
USD ($)
segment
Dec. 26, 2025
USD ($)
Segment Reporting Information Line Items    
Number of operating segments | segment 2  
Number of reportable segments | segment 2  
United States    
Segment Reporting Information Line Items    
Long-lived assets $ 167.1 $ 172.6
Malaysia    
Segment Reporting Information Line Items    
Long-lived assets 82.3 81.0
Israel    
Segment Reporting Information Line Items    
Long-lived assets 67.6 69.6
South Korea    
Segment Reporting Information Line Items    
Long-lived assets 47.2 50.0
Other Foreign Countries    
Segment Reporting Information Line Items    
Long-lived assets $ 113.6 $ 108.4
v3.26.1
Reportable Segments - Summary of Segment Data (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 27, 2026
Mar. 28, 2025
Dec. 26, 2025
Revenues:      
Total segment revenues $ 533.7 $ 518.6  
Cost of revenues:      
Total cost revenues 449.3 434.6  
Operating expenses:      
Research and development 8.5 7.6  
Sales and marketing 15.5 14.9  
General and administrative 49.0 48.6  
Total operating expenses 73.0 71.1  
Segment operating profit:      
Total segment operating profit 11.4 12.9  
Interest income 1.4 1.1  
Interest expense (7.3) (9.9)  
Other income (expense), net (1.3) 0.8  
Income before provision for income taxes 4.2 4.9  
Expenditures for segment property, plant and equipment      
Total expenditures for segment assets 9.6 12.5  
Depreciation and amortization      
Total depreciation and amortization 19.2 19.1  
Assets      
Total segment assets 1,855.2   $ 1,729.0
Services      
Operating expenses:      
Total operating expenses 15.0 14.5  
Operating Segments      
Segment operating profit:      
Total segment operating profit 11.4 12.9  
Operating Segments | Products      
Revenues:      
Total segment revenues 465.7 457.0  
Cost of revenues:      
Total cost revenues 400.7 390.3  
Operating expenses:      
Research and development 6.1 5.2  
Sales and marketing 12.2 12.0  
General and administrative 39.7 39.4  
Total operating expenses 58.0 56.6  
Segment operating profit:      
Total segment operating profit 7.0 10.1  
Expenditures for segment property, plant and equipment      
Total expenditures for segment assets 6.8 9.3  
Depreciation and amortization      
Total depreciation and amortization 12.8 12.7  
Assets      
Total segment assets 1,561.2   1,446.0
Operating Segments | Services      
Revenues:      
Total segment revenues 68.0 61.6  
Cost of revenues:      
Total cost revenues 48.6 44.3  
Operating expenses:      
Research and development 2.4 2.4  
Sales and marketing 3.3 2.9  
General and administrative 9.3 9.2  
Segment operating profit:      
Total segment operating profit 4.4 2.8  
Expenditures for segment property, plant and equipment      
Total expenditures for segment assets 2.8 3.2  
Depreciation and amortization      
Total depreciation and amortization 6.4 6.4  
Assets      
Total segment assets 294.0   $ 283.0
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Segment operating profit:      
Interest income 1.4 1.1  
Interest expense (7.3) (9.9)  
Other income (expense), net $ (1.3) $ 0.8  
v3.26.1
Subsequent Events (Details) - USD ($)
$ in Millions
Apr. 23, 2026
Mar. 27, 2026
Feb. 26, 2026
Subsequent Event      
Subsequent Event [Line Items]      
Prepayment of debt $ 19.4    
Revolving Credit Facility      
Subsequent Event [Line Items]      
Revolving credit commitment   $ 150.0 $ 150.0
Revolving Credit Facility | Subsequent Event      
Subsequent Event [Line Items]      
Revolving credit commitment $ 250.0