HAYWARD HOLDINGS, INC., 10-Q filed on 7/30/2025
Quarterly Report
v3.25.2
Cover - shares
 6 Months Ended
Jun. 28, 2025
Jul. 28, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 28, 2025  
Document Transition Report false  
Entity File Number 001-40208  
Entity Registrant Name Hayward Holdings, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 82-2060643  
Entity Address, Address Line One 1415 Vantage Park Drive  
Entity Address, Address Line Two Suite 400  
Entity Address, City or Town Charlotte  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 28203  
City Area Code 704  
Local Phone Number 837-8002  
Title of 12(b) Security Common stock, $.001 per share  
Trading Symbol HAYW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   216,706,567
Amendment Flag false  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2025  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001834622  
v3.25.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 365,051 $ 196,589
Accounts receivable, net of allowances of $2,837 and $2,701, respectively 169,766 278,582
Inventories, net 228,292 216,472
Prepaid expenses 18,859 20,203
Income tax receivable 0 6,426
Other current assets 48,688 48,697
Total current assets 830,656 766,969
Property, plant, and equipment, net of accumulated depreciation of $118,219 and $112,099, respectively 154,931 160,377
Goodwill 951,339 943,645
Trademark 736,000 736,000
Customer relationships, net 189,153 198,333
Other intangibles, net 90,999 96,095
Other non-current assets 83,998 89,205
Total assets 3,037,076 2,990,624
Current liabilities    
Current portion of long-term debt 13,412 13,991
Accounts payable 74,489 81,476
Accrued expenses and other liabilities 198,751 217,242
Income taxes payable 6,075 273
Total current liabilities 292,727 312,982
Long-term debt, net 949,064 950,562
Deferred tax liabilities, net 234,060 239,111
Other non-current liabilities 62,827 64,322
Total liabilities 1,538,678 1,566,977
Commitments and contingencies (Note 12)
Stockholders’ equity    
Preferred stock, $0.001 par value, 100,000,000 authorized, no shares issued or outstanding as of June 28, 2025 and December 31, 2024 0 0
Common stock $0.001 par value, 750,000,000 authorized; 245,217,249 issued and 216,550,880 outstanding at June 28, 2025; 244,444,889 issued and 215,778,520 outstanding at December 31, 2024 246 245
Additional paid-in capital 1,100,884 1,093,468
Common stock in treasury; 28,666,369 and 28,666,369 at June 28, 2025 and December 31, 2024, respectively (359,206) (358,133)
Retained earnings 758,696 699,564
Accumulated other comprehensive income (2,222) (11,497)
Total stockholders’ equity 1,498,398 1,423,647
Total liabilities, redeemable stock, and stockholders’ equity $ 3,037,076 $ 2,990,624
v3.25.2
Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Accounts receivable, allowances $ 2,837 $ 2,701
Property, plant, and equipment, accumulated depreciation $ 118,219 $ 112,099
Preferred stock par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, authorized (in shares) 100,000,000 100,000,000
Preferred stock issued (in shares) 0 0
Preferred stock outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, authorized (in shares) 750,000,000 750,000,000
Common stock issued (in shares) 245,217,249 244,444,889
Common stock outstanding (in shares) 216,550,880 215,778,520
Common treasury stock (in shares) 28,666,369 28,666,369
v3.25.2
Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Income Statement [Abstract]        
Net sales $ 299,603 $ 284,393 $ 528,444 $ 496,962
Cost of sales 141,764 139,306 257,230 247,296
Gross profit 157,839 145,087 271,214 249,666
Selling, general and administrative expense 71,893 63,155 137,010 123,169
Research, development and engineering expense 6,128 6,119 12,114 12,421
Acquisition and restructuring related expense 1,565 839 3,491 1,343
Amortization of intangible assets 6,870 6,949 13,705 13,849
Operating income 71,383 68,025 104,894 98,884
Interest expense, net 13,650 16,799 27,301 35,391
Loss on debt extinguishment 0 4,926 0 4,926
Other expense (income), net (1,706) (646) (527) (1,284)
Total other expense 11,944 21,079 26,774 39,033
Income from operations before income taxes 59,439 46,946 78,120 59,851
Provision for income taxes 14,640 9,365 18,988 12,430
Net income $ 44,799 $ 37,581 $ 59,132 $ 47,421
Earnings per share        
Basic (in usd per share) $ 0.21 $ 0.17 $ 0.27 $ 0.22
Diluted (in usd per share) $ 0.20 $ 0.17 $ 0.27 $ 0.21
Weighted average common shares outstanding        
Basic (in shares) 216,382,177 214,915,338 216,175,618 214,637,930
Diluted (in shares) 221,834,188 221,259,232 221,856,056 221,159,419
v3.25.2
Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 44,799 $ 37,581 $ 59,132 $ 47,421
Other comprehensive income (loss):        
Foreign currency translation adjustments, gross 12,607 (2,332) 16,336 (8,041)
Foreign currency translation adjustments, taxes 0 0 0 0
Foreign currency translation adjustments, net 12,607 (2,332) 16,336 (8,041)
Net change on cash flow hedges, gross (3,165) (1,649) (9,415) 1,503
Net change on cash flow hedges, taxes 792 302 2,354 (375)
Net change on cash flow hedges, net (2,373) (1,347) (7,061) 1,128
Comprehensive income $ 55,033 $ 33,902 $ 68,407 $ 40,508
v3.25.2
Unaudited Condensed Consolidated Statements of Changes in Redeemable Stock and Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2023   214,165,676        
Beginning balance at Dec. 31, 2023 $ 1,311,458 $ 243 $ 1,080,894 $ (357,755) $ 580,909 $ 7,167
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 9,840       9,840  
Stock-based compensation 1,983   1,983      
Issuance of Common Stock (in shares)   550,713        
Issuance of Common Stock 800 $ 1 799      
Repurchase of stock (355)     (355)    
Other comprehensive income (loss) (3,234)         (3,234)
Ending balance (in shares) at Mar. 30, 2024   214,716,389        
Ending balance at Mar. 30, 2024 1,320,492 $ 244 1,083,676 (358,110) 590,749 3,933
Beginning balance (in shares) at Dec. 31, 2023   214,165,676        
Beginning balance at Dec. 31, 2023 1,311,458 $ 243 1,080,894 (357,755) 580,909 7,167
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 47,421          
Ending balance (in shares) at Jun. 29, 2024   215,071,798        
Ending balance at Jun. 29, 2024 1,357,398 $ 244 1,086,680 (358,110) 628,330 254
Beginning balance (in shares) at Mar. 30, 2024   214,716,389        
Beginning balance at Mar. 30, 2024 1,320,492 $ 244 1,083,676 (358,110) 590,749 3,933
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 37,581       37,581  
Stock-based compensation 2,649   2,649      
Issuance of Common Stock (in shares)   355,409        
Issuance of Common Stock 355   355      
Other comprehensive income (loss) (3,679)         (3,679)
Ending balance (in shares) at Jun. 29, 2024   215,071,798        
Ending balance at Jun. 29, 2024 $ 1,357,398 $ 244 1,086,680 (358,110) 628,330 254
Beginning balance (in shares) at Dec. 31, 2024 215,778,520 215,778,520        
Beginning balance at Dec. 31, 2024 $ 1,423,647 $ 245 1,093,468 (358,133) 699,564 (11,497)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 14,333       14,333  
Stock-based compensation 2,935   2,935      
Issuance of Common Stock (in shares)   425,617        
Issuance of Common Stock 416   416      
Repurchase of stock (993)     (993)    
Other comprehensive income (loss) (959)         (959)
Ending balance (in shares) at Mar. 29, 2025   216,204,137        
Ending balance at Mar. 29, 2025 $ 1,439,379 $ 245 1,096,819 (359,126) 713,897 (12,456)
Beginning balance (in shares) at Dec. 31, 2024 215,778,520 215,778,520        
Beginning balance at Dec. 31, 2024 $ 1,423,647 $ 245 1,093,468 (358,133) 699,564 (11,497)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 59,132          
Ending balance (in shares) at Jun. 28, 2025 216,550,880 216,550,880        
Ending balance at Jun. 28, 2025 $ 1,498,398 $ 246 1,100,884 (359,206) 758,696 (2,222)
Beginning balance (in shares) at Mar. 29, 2025   216,204,137        
Beginning balance at Mar. 29, 2025 1,439,379 $ 245 1,096,819 (359,126) 713,897 (12,456)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 44,799       44,799  
Stock-based compensation 3,382   3,382      
Issuance of Common Stock (in shares)   346,743        
Issuance of Common Stock 684 $ 1 683      
Repurchase of stock (80)     (80)    
Other comprehensive income (loss) $ 10,234         10,234
Ending balance (in shares) at Jun. 28, 2025 216,550,880 216,550,880        
Ending balance at Jun. 28, 2025 $ 1,498,398 $ 246 $ 1,100,884 $ (359,206) $ 758,696 $ (2,222)
v3.25.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash flows from operating activities    
Net income $ 59,132 $ 47,421
Adjustments to reconcile net income to net cash used in operating activities    
Depreciation 11,517 9,067
Amortization of intangible assets 17,166 17,046
Amortization of deferred debt issuance fees 1,880 2,294
Stock-based compensation 6,317 4,632
Deferred income taxes (3,008) (6,631)
Allowance for bad debts 2 81
Loss on debt extinguishment 0 4,926
(Gain) loss on sale of property, plant and equipment 206 (504)
Changes in operating assets and liabilities    
Accounts receivable 114,267 124,537
Inventories (6,098) 6,384
Other current and non-current assets 6,176 7,803
Accounts payable (8,321) (562)
Accrued expenses and other liabilities (10,874) (6,655)
Net cash provided by operating activities 188,362 209,839
Cash flows from investing activities    
Purchases of property, plant, and equipment (12,423) (9,685)
Software development costs (1,159) (1,021)
Acquisitions, net of cash acquired 0 62,367
Proceeds from sale of property, plant, and equipment 0 48
Proceeds from short-term investments 0 25,000
Net cash used in investing activities (13,582) (48,025)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 0 2,856
Payments of long-term debt (3,831) (129,401)
Proceeds from issuance of short-term notes payable 0 6,340
Payments of short-term notes payable (2,169) (2,888)
Debt issuance costs (1,143) 0
Purchase of common stock (1,073) (355)
Other, net 164 (159)
Net cash used in financing activities (8,052) (123,607)
Effect of exchange rate changes on cash and cash equivalents 1,734 (1,248)
Change in cash and cash equivalents 168,462 36,959
Cash and cash equivalents, beginning of period 196,589 178,097
Cash and cash equivalents, end of period 365,051 215,056
Supplemental disclosures of cash flow information:    
Cash paid-interest 25,230 36,601
Cash paid-income taxes 9,591 6,221
Non-cash investing and financing activities:    
Accrued and unpaid purchases of property, plant, and equipment 927 600
Equipment financed under finance leases $ 344 $ 630
v3.25.2
Nature of Operations and Organization
 6 Months Ended
Jun. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Organization
1. Nature of Operations and Organization
Hayward Holdings, Inc. (“Holdings,” the “Company,” “we” or “us”) is a global designer and manufacturer of pool and outdoor living technology. The Company has seven manufacturing facilities worldwide, which are located in North Carolina, Georgia, Tennessee, Rhode Island, Spain (two) and China, and other facilities in the United States, Canada, France and Australia. Cash flow is impacted by the seasonality of the swimming pool business. Cash flow is usually higher in the second and third quarters due to terms of sale to our customers.
We establish actual interim closing dates using a fiscal calendar in which our fiscal quarters end on the Saturday closest to the calendar quarter end, with the exception of year-end, which ends on December 31 of each fiscal year. The interim closing date for the first, second and third quarters of 2025 are March 29, June 28, and September 27, compared to the respective March 30, June 29, and September 28, 2024 dates. We had three fewer working days for the six months ended June 28, 2025 compared to the respective 2024 period.
v3.25.2
Significant Accounting Policies
 6 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Significant Accounting Policies
2. Significant Accounting Policies
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to such rules and regulations.
Hayward Holdings, Inc. and its direct wholly owned subsidiary, Hayward Intermediate, Inc., are holding companies with no other operations, material assets or liabilities other than the ownership by Hayward Intermediate, Inc. of all of the equity interests in Hayward Industries, Inc., which is the borrower under our First Lien Term Facility and ABL Revolving Credit Facility (collectively “Credit Facilities”). Refer to Note 21. Condensed Financial Information of Registrant (Parent Company Only) of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024 for the financial information detail of the holding company, Hayward Holdings, Inc.
These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2024. The results of operations for the three and six months ended June 28, 2025 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2025.
The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified for comparative purposes to conform to the current presentation.
Accounts Receivable, Net
On July 3, 2024, the Company entered into a Receivables Purchase Agreement under which it may offer to sell eligible accounts receivable. The agreement is uncommitted and the eligible accounts receivable to be sold under the agreement consist of up to $125 million in accounts receivable generated by sales to specified customers of the Company. The Company will be paid a discounted purchase price for each receivable sold. The discount rate used to determine the purchase price for the subject receivables is based upon an annual interest rate equal to the forward-looking term rate based on the secured overnight financing rate for the period of time between payment to the Company and the due date for the receivable plus a buffer period specific to the obligor, plus a margin applicable to the specified obligor.
Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the consolidated balance sheets at the time of the sales transaction. Proceeds received from the sales of accounts receivable are classified as operating cash flows in the consolidated statements of cash flows. We record the discount in the “Other expense, net” line in the consolidated statements of operations. The Company, as the servicer under the Receivables Purchase Agreement, continues to service the accounts receivable sold. No sales of accounts receivable occurred during the three months ended June 28, 2025. For the six months ended June 28, 2025, there were proceeds of $99.1 million from the sale of $100.0 million of receivables under the Receivables Purchase Agreement. As of June 28, 2025, none of the sold receivables
remained to be collected and remitted to the transferee. The expense recognized related to the discount on sales for the six months ended June 28, 2025 was $0.9 million.

Recently Issued Accounting Standards
Income Taxes
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which is intended to improve income tax disclosure requirements by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure requirements. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. The Company will apply the guidance on a retrospective basis and the adoption is not expected to have a material impact on its condensed financial statements or related disclosures.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which includes requirements that an entity disclose in the notes to the financial statements specified information about certain costs and expenses, including the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation and (d) intangible asset amortization included in each relevant expense caption presented on the statement of operations. The standard also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is evaluating the impact of the standard on its disclosures.
v3.25.2
Revenue
 6 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
3. Revenue
The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Product groups
Residential pool$267,680 $260,025 $469,458 $451,903 
Commercial pool19,413 11,583 34,423 20,087 
Flow control12,510 12,785 24,563 24,972 
Total$299,603 $284,393 $528,444 $496,962 
Geographic
United States$235,524 $221,350 $408,596 $380,075 
Canada19,651 19,763 33,648 34,467 
Europe27,549 28,702 55,507 54,483 
Rest of World16,879 14,578 30,693 27,937 
Total International64,079 63,043 119,848 116,887 
Total$299,603 $284,393 $528,444 $496,962 
v3.25.2
Inventories
 6 Months Ended
Jun. 28, 2025
Inventory Disclosure [Abstract]  
Inventories
4. Inventories
Inventories, net, consist of the following (in thousands):
June 28, 2025December 31, 2024
Raw materials$86,828 $94,168 
Work in progress21,237 20,013 
Finished goods120,227 102,291 
Total$228,292 $216,472 
v3.25.2
Accrued Expenses and Other Liabilities
 6 Months Ended
Jun. 28, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities
5. Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
June 28, 2025December 31, 2024
Selling, promotional and advertising$48,687 $60,620 
Insurance reserve34,937 32,836 
Warranty reserve27,379 25,306 
Employee compensation and benefits23,285 28,860 
Inventory purchases17,728 24,002 
Operating lease liability - short term9,109 8,673 
Freight5,970 7,010 
Accrued Interest4,819 591 
Professional fees4,077 2,254 
Payroll taxes3,921 5,232 
Taxes - non income3,344 2,630 
Deferred income2,715 3,399 
Business restructuring costs1,146 1,304 
Short-term notes payable— 2,169 
Other accrued liabilities11,634 12,356 
Total$198,751 $217,242 

The Company offers warranties on certain of its products and records an accrual for estimated future claims. Such accruals are based on historical experience and management’s estimate of the level of future claims.
The following table summarizes the warranty reserve activities (in thousands):

Balance at December 31, 2024
$25,306 
Accrual for warranties issued during the period 8,122 
Payments(6,741)
Balance at March 29, 2025
26,687 
Accrual for warranties issued during the period 10,385 
Payments(9,693)
Balance at June 28, 2025
27,379 
Balance at December 31, 2023
$22,154 
Accrual for warranties issued during the period 8,202 
Payments(6,999)
Balance at March 30, 2024
23,357 
Accrual for warranties issued during the period11,637 
Payments(10,124)
Balance at June 29, 2024
24,870 

Warranty expenses for the three and six months ended June 28, 2025 were $10.4 million and $18.5 million, respectively, and $11.6 million and $19.8 million, respectively, for the three and six months ended June 29, 2024.
v3.25.2
Income Taxes
 6 Months Ended
Jun. 28, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
6. Income Taxes
The Company’s effective tax rate for the three months ended June 28, 2025 and June 29, 2024 was 24.6% and 19.9%, respectively, after discrete items. The change in the Company's effective tax rate was primarily due to return-to-provision adjustments during the prior-year period.
The Company’s effective tax rate for the six months ended June 28, 2025 and June 29, 2024 was 24.3% and 20.8%, respectively. The change in the Company's effective tax rate was primarily due to return-to-provision adjustments during the prior-year period.
The Company will recognize a tax benefit in the financial statements for an uncertain tax position only if the Company’s assessment is that the position is “more likely than not” (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for financial reporting purposes. There were uncertain tax positions of $1.3 million as of June 28, 2025 and December 31, 2024.
In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment. Management evaluates the need for valuation allowances on the deferred tax assets according to the provisions of ASC 740, Income Taxes. In making this determination, the Company assesses all available evidence (positive and negative) including recent earnings, internally-prepared income tax projections, and historical financial performance.
v3.25.2
Long-Term Debt
 6 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
7. Long-Term Debt
Long-term debt, net, consists of the following (in thousands):
June 28, 2025December 31, 2024
First Lien Term Facility, due May 28, 2028$962,500 $965,000 
ABL Revolving Credit Facility— — 
Other bank debt6,307 6,461 
Finance lease obligations1,743 2,448 
Subtotal970,550 973,909 
Less: Current portion of the long-term debt(13,412)(13,991)
Less: Unamortized debt issuance costs(8,074)(9,356)
Total$949,064 $950,562 

On June 18, 2025, the Company entered into the Fifth Amendment to its existing ABL Revolving Credit Facility (the “ABL Facility”) to extend the maturity date to February 25, 2028. The amendment also included the removal of the 10 basis points credit spread adjustment previously applicable to Secured Overnight Financing Rate borrowings and the removal of the first-in, last-out subfacility.
The Credit Facilities contain collateral requirements, restrictions, and covenants, including restrictions under the First Lien Term Facility on the Company’s ability to pay dividends on the Common Stock. Under the agreement governing the First Lien Credit Facility (the “First Lien Credit Agreement”), the Company must also make an annual mandatory prepayment of principal commencing April 2023 for between 0% and 50% of the excess cash, as defined in the First Lien Credit Agreement, generated in the prior calendar year. The amount due varies with the First Lien Leverage Ratio as defined in the First Lien Credit Agreement, from zero if the First Lien Leverage Ratio is less than or equal to 2.5x, to fifty percent if the First Lien Leverage Ratio is greater than 3.0x less certain allowed deductions. The Company did not have a mandatory prepayment in 2025 based on the First Lien Leverage Ratio as of December 31, 2024 and the applicable criteria under the First Lien Credit Agreement. All outstanding principal under the First Lien Credit Agreement is due at maturity on May 28, 2028. The maturity date under the ABL Facility is February 25, 2028. As of June 28, 2025, the Company was in compliance with all covenants under the Credit Facilities.
v3.25.2
Derivatives and Hedging Transactions
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Transactions
8. Derivatives and Hedging Transactions
The Company holds derivative financial instruments for the purpose of hedging the risks of certain identifiable and anticipated transactions. In general, the types of risks hedged are those relating to the variability of future earnings and cash flows caused by movements in foreign currency exchange rates and interest rates. In hedging these transactions, the Company holds the following types of derivatives in the normal course of business.
Interest Rate Swap Agreements
The Company enters into interest rate swap agreements designated as cash flow hedges to manage interest rate risk related to its variable rate debt obligations. As cash flow hedges, unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The interest rate swap agreements are highly correlated to the changes in interest rates to which the Company is exposed. Unrealized gains and losses on these instruments have been designated as effective and as such, the related gains or losses have been recorded as a component of accumulated other comprehensive income, net of tax. Other comprehensive income or loss is reclassified into current period income when the hedged interest expense affects earnings.
As of June 28, 2025 and December 31, 2024, the Company was a party to interest rate swap agreements that hedged a notional amount of $600.0 million of the Company’s variable rate debt.
Foreign Exchange Contracts
The Company enters into foreign exchange contracts to manage risks associated with future intercompany and foreign currency transactions that may be adversely affected by changes in exchange rates. These contracts are marked-to-market with the resulting gains and losses recognized in earnings. For the three months ended June 28, 2025 and June 29, 2024, the Company recognized $2.9 million and $0.2 million of expense, respectively, and for the six months ended June 28, 2025 and June 29, 2024, $3.7 million of expense and $0.9 million of income, respectively, in Other (income) expense, net, related to foreign exchange contracts.
The following table summarizes the gross fair values and location of the significant derivative instruments within the Company’s unaudited condensed consolidated balance sheets (in thousands):
Other Current AssetsOther Non-Current AssetsAccrued Expenses and Other LiabilitiesOther Current AssetsOther Non-Current AssetsOther Non-Current Liabilities
June 28, 2025December 31, 2024
Interest rate swaps$— $8,350 $135 $1,083 $16,640 $92 
Foreign exchange contracts90 — 1,528 2,339 — — 
Total$90 $8,350 $1,663 $3,422 $16,640 $92 
The following table presents the effects of derivative instruments by contract type in accumulated other comprehensive income (“AOCI”) in the Company’s unaudited condensed consolidated statements of comprehensive income (in thousands):
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Three Months EndedThree Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Interest rate swaps (3)
$(767)$2,593 $2,398 $4,391 Interest expense, net
(1) The tax benefit and expense, respectively, on the (loss) gain recognized in AOCI for the three months ended June 28, 2025 and June 29, 2024 was $0.2 million and $0.7 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the three months ended June 28, 2025 and June 29, 2024 was $0.6 million and $1.1 million, respectively.
(3) The Company estimates that $6.5 million of unrealized gains will be reclassified from AOCI into earnings in the next twelve months.
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Six Months EndedSix Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Interest rate swaps$(4,227)$10,257 $5,188 $8,755 Interest expense, net
(1) The tax benefit and expense, respectively, on the (loss) gain recognized in AOCI for the six months ended June 28, 2025 and June 29, 2024 was $1.1 million and $2.6 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the six months ended June 28, 2025 and June 29, 2024 was $1.3 million and $2.2 million, respectively.
v3.25.2
Fair Value Measurements
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
9. Fair Value Measurements
The Company is required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based upon market conditions and perceived risks. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities.
The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy:
•Level 1 - Inputs are based on quoted prices in active markets for identical assets and liabilities.
•Level 2 - Inputs are based on observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.
•Level 3 - One or more inputs are unobservable and significant.
Financial and nonfinancial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments include cash and cash equivalents, accounts receivable, and accounts payable. The carrying amount of these instruments approximate fair value because of their short-term nature.
The Company’s interest rate swaps and foreign exchange contracts are measured in the financial statements at fair value on a recurring basis. The fair values of these instruments are estimated using industry standard valuation models using market-based observable inputs, including interest rate curves. These instruments are customary, over-the-counter contracts with various bank counterparties. Accordingly, the fair value measurements of the interest rate swaps and foreign exchange contracts are categorized as Level 2.
The Company’s investment plan assets as part of the nonqualified Hayward Industries Supplemental Retirement Plan (the “Supplemental Retirement Plan”) are presented in the financial statements at fair value on a recurring basis and are based on quoted market prices in active markets. Accordingly, the fair value measurements of the Supplemental Retirement Plan assets are categorized as Level 1. The value of investments related to the Supplemental Retirement Plan is included in other assets and a corresponding liability to participants is recorded in other liabilities.
The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis (in thousands):
June 28, 2025December 31, 2024
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Assets:
Interest rate swaps
$— $8,350 $— $8,350 $— $17,723 $— $17,723 
Foreign exchange contracts
— 90 — 90 — 2,339 — 2,339 
Supplemental Retirement Plan assets
9,452 — — 9,452 7,741 — — 7,741 
Liabilities:
Interest rate swaps
$— $135 $— $135 $— $92 $— $92 
Foreign exchange contracts
— 1,528 — 1,528 — — — — 
Supplemental Retirement Plan liabilities
9,452 — — 9,452 7,741 — — 7,741 
The estimated fair value of the long-term debt and related current maturities (excluding finance leases, the ABL Facility, and other bank debt) is based on observable quoted prices in active markets for similar liabilities and is classified as a Level 2 input. The fair value of the ABL Facility approximates its carrying value.
The following table sets forth the Company’s financial liabilities that were not carried at fair value (in thousands):
June 28, 2025December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
Liabilities:
Long-term debt and related current maturities$962,500 $966,109 $965,000 $970,433 
v3.25.2
Segments and Related Information
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segments and Related Information
10. Segments and Related Information
The Company’s operational and management structure is aligned to its key geographies and go-to market strategy resulting in two reportable segments: North America (“NAM”) and Europe & Rest of World (“E&RW”). Operating segments have not been aggregated to form the reportable segments. The Company's CODM is the President and Chief Executive Officer. The Company determined its reportable segments based on how the Company’s Chief Operating Decision Maker (“CODM”) reviews the Company’s operating results in assessing performance and allocating resources. The CODM uses segment income in assessing performance of and allocating resources to the reportable segments. Segment income is defined as net sales less cost of sales, less segment selling, general and administrative expense (“SG&A”) and research development and engineering expense (“RD&E”), excluding acquisition and restructuring related expense, as well as amortization of intangible assets recorded within segment SG&A expense.
The CODM does not evaluate reportable segments using asset information as these are managed on an enterprise-wide basis. The accounting policies of the segments are the same as those of Holdings.
The North America segment manufactures and sells residential and commercial swimming pool equipment and supplies as well as equipment that controls the flow of fluids.
The Europe & Rest of World segment manufactures and sells residential and commercial swimming pool equipment and supplies.
The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary (in thousands):
Three Months EndedThree Months Ended
June 28, 2025June 29, 2024
North AmericaEurope & Rest of WorldTotalNorth AmericaEurope & Rest of WorldTotal
External net sales$255,175 $44,428 $299,603 $241,113 $43,280 $284,393 
Significant Segment Expenses
Cost of Sales114,615 27,149 141,764 113,683 25,623 139,306 
Segment selling, general and administrative expense51,390 9,358 60,748 46,325 9,019 55,344 
Research, development and engineering expense5,796 332 6,128 5,770 349 6,119 
Segment income83,374 7,589 90,963 75,335 8,289 83,624 
Capital expenditures (1)
6,941 530 7,471 4,222 560 4,782 
Depreciation and amortization (1)(2)
6,209 439 6,648 5,882 263 6,145 
Intersegment sales5,685 295 5,980 4,938 30 4,968 
Six Months EndedSix Months Ended
June 28, 2025June 29, 2024
North AmericaEurope & Rest of WorldTotalNorth AmericaEurope & Rest of WorldTotal
External net sales$442,244 $86,200 $528,444 $414,542 $82,420 $496,962 
Significant Segment Expenses
Cost of Sales202,948 54,282 257,230 197,235 50,061 247,296 
Segment selling, general and administrative expense101,015 17,130 118,145 90,486 17,357 107,843 
Research, development and engineering expense11,453 661 12,114 11,744 677 12,421 
Segment income126,828 14,127 140,955 115,077 14,325 129,402 
Capital expenditures (1)
12,840 742 13,582 9,461 1,227 10,688 
Depreciation and amortization (1)(2)
13,409 853 14,262 11,412 520 11,932 
Intersegment sales12,369 358 12,727 13,015 60 13,075 

(1) Capital expenditures and depreciation associated with Corporate are not included in these totals.
(2) Amortization expense excluded from segment income is not included in these totals.
The following table presents a reconciliation of segment income to income from operations before income taxes (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Total segment income$90,963 $83,624 $140,955 $129,402 
Corporate expense, net11,145 7,811 18,865 15,326 
Acquisition and restructuring related expense1,565 839 3,491 1,343 
Amortization of intangible assets6,870 6,949 13,705 13,849 
Operating income71,383 68,025 104,894 98,884 
Interest expense, net13,650 16,799 27,301 35,391 
Loss on debt extinguishment— 4,926 — 4,926 
Other (income) expense, net(1,706)(646)(527)(1,284)
Total other expense11,944 21,079 26,774 39,033 
Income from operations before income taxes$59,439 $46,946 $78,120 $59,851 
v3.25.2
Earnings Per Share
 6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
11. Earnings Per Share
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net income attributable to common stockholders$44,799 $37,581 $59,132 $47,421 
Weighted average number of common shares outstanding, basic216,382,177 214,915,338 216,175,618 214,637,930 
Effect of dilutive securities(a)
5,452,011 6,343,894 5,680,438 6,521,489 
Weighted average number of common shares outstanding, diluted221,834,188 221,259,232 221,856,056 221,159,419 
Earnings per share attributable to common stockholders, basic$0.21 $0.17 $0.27 $0.22 
Earnings per share attributable to common stockholders, diluted$0.20 $0.17 $0.27 $0.21 
(a) For the three months ended June 28, 2025 and June 29, 2024 there were potential common shares totaling approximately 2.6 million and 2.5 million, respectively, and for the six months ended June 28, 2025 and June 29, 2024, there were potential common shares totaling approximately 2.0 million and 2.6 million, respectively, that were excluded from the computation of diluted EPS as the effect of inclusion of such shares would have been anti-dilutive.
v3.25.2
Commitments and Contingencies
 6 Months Ended
Jun. 28, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
12. Commitments and Contingencies
Litigation
The Company is involved in litigation arising in the normal course of business, including involving product liability claims. Where appropriate, these matters have been submitted to the Company’s insurance carrier. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. It is not possible to quantify the ultimate liability, if any, in these matters.
As of December 11, 2024, during the discovery phase of litigation in which the Company was one of several named defendants, the Company reached a mutual understanding to settle its liability in a wrongful death lawsuit related to a discontinued product. We expect the resolution to include payment in the amount of $22.0 million, which amount will be paid entirely by the Company’s insurance carriers pursuant to agreement among the Company and its insurance carriers. Accordingly, the Company has an accrual for a loss contingency of $22.0 million and insurance receivables of $22.0 million, which are recorded within other current assets and accrued expenses and other liabilities on the unaudited condensed consolidated balance sheets, respectively. The Company expects the resolution payment to be made within the next three months.
On August 2, 2023, a securities class action complaint was filed in the United States District Court for the District of New Jersey against the Company and certain of its current directors and officers (Kevin Holleran and Eifion Jones) and MSD Partners, L.P. and CCMP Capital Advisors, LP on behalf of a putative class of stockholders who acquired shares of the Company’s common stock between March 2, 2022 and July 27, 2022. That action is captioned City of Southfield Fire and Police Retirement System vs. Hayward Holdings, Inc., et al., 2:23-cv-04146-WJM-ESK (D.N.J.) (“City of Southfield”). On September 28, 2023, a second, related securities class action complaint was filed in the United States District Court for the District of New Jersey against the Company and certain of its current directors and officers (Kevin Holleran and Eifion Jones) and MSD Partners, L.P. and CCMP Capital Advisors, LP on behalf of a putative class of stockholders who acquired shares of the Company’s common stock between October 27, 2021 and July 28, 2022. That action is captioned Erie County Employees’ Retirement System vs. Hayward Holdings, Inc., et al., 2:23-cv-04146-WJM-ESK (D.N.J.) (“Erie County”). On December 19, 2023, the Court issued a ruling consolidating the two securities class actions (City of Southfield and Erie County) under the City of Southfield docket (the “Securities Class Action”) and appointing a lead plaintiff. In a consolidated class action complaint filed March 4, 2024, the lead plaintiff alleged on behalf of a putative class of stockholders who acquired shares of the Company's common stock between October 27, 2021 and July 28, 2022, among other things, that the Company, Kevin Holleran, and Eifion Jones violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, by, among other things, making materially false or misleading statements regarding inventory, growth, and demand trends and the Company’s financial projections for 2022. On October 2, 2024, the Court issued an Opinion and Order dismissing the consolidated class action complaint and granting the lead plaintiff leave to file an amended complaint within 30 days. On November 1, 2024, the lead plaintiff filed a consolidated amended class action complaint making substantially similar allegations as in the consolidated class action complaint, but adding additional defendants affiliated with MSD Partners, L.P. and CCMP Capital Advisors, LP. On December 18, 2024, the Company and all other defendants moved to dismiss the consolidated amended class action complaint. On June 4, 2025, the Court issued an Opinion and Order granting in part and denying in part the motion to dismiss. The Court thereafter ordered the parties to mediation. The case is currently stayed. The Securities Class Action seeks unspecified monetary damages on behalf of a putative class and an award of costs and expenses, including reasonable attorneys’ fees.
On November 27, 2023, a shareholder derivative lawsuit was filed in the United States District Court for the District of New Jersey against current and past officers and directors of the Company captioned Heicklen v. Holleran, et al., 2:23-cv-22649 (D.N.J.) (the “Derivative Action”). The Derivative Action alleges breaches of fiduciary duties to Company stockholders, aiding and abetting breaches of fiduciary duties, unjust enrichment, corporate waste, and violations of Section 10(b) of the Securities Exchange Act of 1934 in connection with the claims in the Securities Class Action. The plaintiff in the Derivative Action seeks recovery of unspecified damages and attorneys' fees and costs, as well as improvements to the Company’s corporate governance and internal procedures. The Derivative Action was stayed pending final decision on the motion to dismiss filed in the Securities Class Action. On July 22, 2025, the Court further stayed the Derivative Action in light of the mediation in the Securities Class Action.
We dispute the allegations of wrongdoing in the Securities Class Action and the Derivative Action and intend to vigorously defend ourselves in these matters. In view of the complexity and ongoing and uncertain nature of the outstanding proceedings and inquiries, at this time we are unable to estimate a reasonably possible financial loss or range of financial loss, if any, that we may incur to resolve the Securities Class Action and the Derivative Action.
v3.25.2
Leases
 6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Leases
13. Leases
The Company’s operating and finance lease portfolio is described in Note 15. Leases of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024.
Supplemental cash flow information related to leases was as follows (in thousands):
Six Months Ended
June 28, 2025June 29, 2024
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$2,783 $4,486 
Finance leases344 508 
Supplemental balance sheet information related to leases was as follows (in thousands):
June 28, 2025December 31, 2024
Operating leases
Other non-current assets$53,150 $55,809 
Accrued expenses and other liabilities9,109 8,673 
Other non-current liabilities51,541 54,766 
Total operating lease liabilities60,650 63,439 
Finance leases
Property, plant and equipment7,473 8,936 
Accumulated depreciation(2,762)(2,892)
Property, plant and equipment, net4,711 6,044 
Current maturities of long-term debt904 1,753 
Long-term debt839 695 
Total finance lease liabilities$1,743 $2,448 
Leases
13. Leases
The Company’s operating and finance lease portfolio is described in Note 15. Leases of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024.
Supplemental cash flow information related to leases was as follows (in thousands):
Six Months Ended
June 28, 2025June 29, 2024
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$2,783 $4,486 
Finance leases344 508 
Supplemental balance sheet information related to leases was as follows (in thousands):
June 28, 2025December 31, 2024
Operating leases
Other non-current assets$53,150 $55,809 
Accrued expenses and other liabilities9,109 8,673 
Other non-current liabilities51,541 54,766 
Total operating lease liabilities60,650 63,439 
Finance leases
Property, plant and equipment7,473 8,936 
Accumulated depreciation(2,762)(2,892)
Property, plant and equipment, net4,711 6,044 
Current maturities of long-term debt904 1,753 
Long-term debt839 695 
Total finance lease liabilities$1,743 $2,448 
v3.25.2
Stockholders’ Equity
 6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Stockholders’ Equity
14. Stockholders’ Equity
Preferred Stock
The Company’s Second Restated Certificate of Incorporation authorizes the Company to issue up to 100,000,000 shares of preferred stock, $0.001 value per share, all of which is undesignated.
Common Stock
The Company’s Second Restated Certificate of Incorporation authorizes the Company to issue up to 750,000,000 shares of Common Stock, $0.001 value per share. Each share of Common Stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders. The holders of Common Stock are entitled to receive dividends, if any, as may be declared by the Board of Directors.
Dividends paid
For the three and six months ended June 28, 2025 and June 29, 2024, no dividends were declared or paid to the Company’s common stockholders.
Share Repurchase Program
The Board of Directors authorized the Company’s share repurchase program (the “Share Repurchase Program”) such that the Company is authorized to repurchase from time to time up to an aggregate of $450.0 million of its outstanding shares of common stock, which authorization expires on July 26, 2025. The Company had no repurchases of its common stock in the quarter ended June 28, 2025 under the Share Repurchase Program. As of June 28, 2025, $400.0 million remained available for additional share repurchases under the program.
v3.25.2
Stock-based Compensation
 6 Months Ended
Jun. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation
15. Stock-based Compensation
Stock-based compensation expense recorded in the unaudited condensed consolidated statements of operations for equity-classified stock-based awards for the three and six months ended June 28, 2025 was $3.4 million and $6.3 million, respectively, and $2.6 million and $4.6 million, respectively, for the three and six months ended June 29, 2024.
The Company has established two equity incentive plans, the 2021 Equity Incentive Plan and the 2017 Equity Incentive Plan. The Company no longer grants awards under the 2017 Equity Incentive Plan.
2021 Equity Incentive Plan
In March 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”). Under the 2021 Plan, up to 13,737,500 shares of common stock may be granted to employees, directors and consultants in the form of stock options, restricted stock units and other stock-based awards. The terms of awards granted under the 2021 Plan are determined by the Compensation Committee of the Board of Directors, subject to the provisions of the 2021 Plan.
Options granted under the 2021 Plan expire no later than ten years from the date of grant. Options and time-based restricted stock units granted under the 2021 Plan generally vest ratably over a three-year period and performance-based restricted stock units vest at the end of three years subject to the performance criteria.
During the six months ended June 28, 2025, the Company granted 587,128 time-based restricted stock units and 353,162 performance-based restricted stock units (at the target performance level) under the 2021 Plan with a weighted-average grant-date fair value per share of $14.37 and $15.31, respectively.
v3.25.2
Acquisitions and Restructuring
 6 Months Ended
Jun. 28, 2025
Acquisition, Restructuring and Related Activities [Abstract]  
Acquisitions and Restructuring
16. Acquisitions and Restructuring
Acquisition and restructuring related expense, net consists of the following (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Business restructuring costs (income), net$(8)$284 $205 $788 
Acquisition transaction and integration costs1,573 555 3,286 555 
Total $1,565 $839 $3,491 $1,343 
Restructuring
During the three months ended June 28, 2025, the Company incurred a reduction in expense of $0.2 million to finalize the relocation of its corporate office functions to Charlotte, North Carolina from Berkeley Heights, New Jersey. The finalized total cost to execute the program was $5.7 million.
During the third quarter of 2023, the Company initiated programs to centralize and consolidate operations and professional services in Europe. For the three and six months ended June 29, 2024, the Company incurred $0.3 million and $0.7 million of expense related to the programs, respectively. The total costs incurred to execute the programs were $3.2 million.
The following tables summarize the status of the Company’s restructuring related expense and related liability balances (in thousands):
2025 Activity
Liability as of December 31, 2024
Costs RecognizedCash Payments
Liability as of June 28, 2025
One-time termination benefits$1,534 $205 $(363)$1,376 
Other28 — (28)— 
Total$1,562 $205 $(391)$1,376 
2024 Activity
Liability as of December 31, 2023
Costs RecognizedCash PaymentsNon-cash charges
Liability as of June 29, 2024
One-time termination benefits$2,353 $385 $(2,022)$— $716 
Facility-related— 160 (160)— — 
Other6 243 (310)67 6 
Total$2,359 $788 $(2,492)$67 $722 
    
Restructuring costs are included within acquisition and restructuring related costs on the Company’s unaudited condensed consolidated statements of operations, while the restructuring liability is included as a component of accrued expenses and other liabilities on the Company’s unaudited condensed consolidated balance sheets.
Acquisitions
On June 26, 2024, the Company acquired the equity interests of ChlorKing HoldCo, LLC and related entities (“ChlorKing”). The acquired business includes pool saline chlorinators and UV disinfection systems serving the commercial pools and water treatment market segments. The acquisition broadens the Company’s commercial portfolio of products and expands the market of commercial customers while furthering the Company's commitment to sustainable and energy-efficient technology for both commercial and residential pools. The acquisition is included in our North America segment.
The consideration paid net of cash acquired was $55.2 million. The purchase price was funded with cash on hand. For the three and six months ended June 28, 2025, transaction expenses recognized for the acquisition were $1.6 million and $3.3 million, respectively. These expenses are included within acquisition and restructuring related costs on the Company’s unaudited condensed consolidated statements of operations. The acquisition accounting was complete as of December 31, 2024.
v3.25.2
Related-Party Transactions
 6 Months Ended
Jun. 28, 2025
Related Party Transactions [Abstract]  
Related-Party Transactions
17. Related-Party Transactions
During the three and six months ended June 28, 2025 and June 29, 2024, the Company did not incur any significant related-party transactions.
v3.25.2
Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income
18. Accumulated Other Comprehensive Income
The changes in accumulated other comprehensive income are provided in the tables below (in thousands):

Cumulative Translation AdjustmentUnrecognized (Losses) Gain on Derivative Instruments for Cash Flow HedgesAccumulated Other Comprehensive Income, Net of Taxes
Balance at December 31, 2024$(24,720)$13,223 $(11,497)
Other comprehensive (loss) income before reclassifications3,729 (3,460)269 
Amounts reclassified from accumulated other comprehensive income— (2,790)(2,790)
Net current period other comprehensive (loss) income3,729 (6,250)(2,521)
Tax Amounts— 1,562 1,562 
Balance at March 29, 2025$(20,991)$8,535 $(12,456)
Other comprehensive income before reclassifications12,607 (767)11,840 
Amounts reclassified from accumulated other comprehensive income— (2,398)(2,398)
Net current period other comprehensive income (loss)12,607 (3,165)9,442 
Tax Amounts— 792 792 
Balance at June 28, 2025$(8,384)$6,162 $(2,222)

Cumulative Translation AdjustmentUnrecognized (Losses) Gain on Derivative Instruments for Cash Flow HedgesAccumulated Other Comprehensive Income, Net of Taxes
Balance at December 31, 2023$(8,548)$15,715 $7,167 
Other comprehensive income (loss) before reclassifications(5,709)7,516 1,807 
Amounts reclassified from accumulated other comprehensive income— (4,364)(4,364)
Net current period other comprehensive income (loss)(5,709)3,152 (2,557)
Tax Amounts— (677)(677)
Balance at March 30, 2024$(14,257)$18,190 $3,933 
Other comprehensive income before reclassifications(2,332)2,742 410 
Amounts reclassified from accumulated other comprehensive income— (4,391)(4,391)
Net current period other comprehensive income (loss)(2,332)(1,649)(3,981)
Tax Amounts— 302 302 
Balance at June 29, 2024$(16,589)$16,843 $254 
v3.25.2
Subsequent Events
 6 Months Ended
Jun. 28, 2025
Subsequent Events [Abstract]  
Subsequent Events
19. Subsequent Events
On July 4, 2025, H.R. 1, “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14” (the “Act”), commonly referred to as the “One Big Beautiful Bill Act,” was enacted in the United States. The Act changes existing U.S. tax laws, including extending or making permanent certain provisions of the Tax Cuts and Jobs Act, in addition to other changes. The Company continues to evaluate the impact the Act will have on the consolidated financial statements, but does not anticipate a significant impact to deferred tax assets and liabilities or to income taxes payable in the third quarter of 2025, which is the period of enactment.
On July 28, 2025, the Board of Directors authorized a share repurchase program such that the Company is authorized to repurchase up to an aggregate of $450 million of its common stock with such authority expiring on July 28, 2028. Repurchases under the share repurchase program will be funded by cash on hand and cash generated from operations and may be made, from time to time, in amounts and at prices the Company deems appropriate and will be subject to a variety of factors, including the market price of the Company’s common stock, general market and economic conditions, applicable legal requirements and other considerations. The share repurchase program is expected to be conducted through open market repurchases, privately negotiated transactions or other means, including through Rule 10b5-1(c) trading plans or through the use of other techniques such as accelerated share repurchases. The share repurchase program does not obligate the Company to acquire any particular amount of its common stock, and may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice.
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Mar. 30, 2024
Jun. 28, 2025
Jun. 29, 2024
Pay vs Performance Disclosure            
Net income $ 44,799 $ 14,333 $ 37,581 $ 9,840 $ 59,132 $ 47,421
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to such rules and regulations.
Hayward Holdings, Inc. and its direct wholly owned subsidiary, Hayward Intermediate, Inc., are holding companies with no other operations, material assets or liabilities other than the ownership by Hayward Intermediate, Inc. of all of the equity interests in Hayward Industries, Inc., which is the borrower under our First Lien Term Facility and ABL Revolving Credit Facility (collectively “Credit Facilities”). Refer to Note 21. Condensed Financial Information of Registrant (Parent Company Only) of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2024 for the financial information detail of the holding company, Hayward Holdings, Inc.
These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2024. The results of operations for the three and six months ended June 28, 2025 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2025.
The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified for comparative purposes to conform to the current presentation.
Accounts Receivable, Net
Accounts Receivable, Net
On July 3, 2024, the Company entered into a Receivables Purchase Agreement under which it may offer to sell eligible accounts receivable. The agreement is uncommitted and the eligible accounts receivable to be sold under the agreement consist of up to $125 million in accounts receivable generated by sales to specified customers of the Company. The Company will be paid a discounted purchase price for each receivable sold. The discount rate used to determine the purchase price for the subject receivables is based upon an annual interest rate equal to the forward-looking term rate based on the secured overnight financing rate for the period of time between payment to the Company and the due date for the receivable plus a buffer period specific to the obligor, plus a margin applicable to the specified obligor.
Transactions under this agreement are accounted for as sales of accounts receivable, and the receivables sold are removed from the consolidated balance sheets at the time of the sales transaction. Proceeds received from the sales of accounts receivable are classified as operating cash flows in the consolidated statements of cash flows. We record the discount in the “Other expense, net” line in the consolidated statements of operations. The Company, as the servicer under the Receivables Purchase Agreement, continues to service the accounts receivable sold. No sales of accounts receivable occurred during the three months ended June 28, 2025. For the six months ended June 28, 2025, there were proceeds of $99.1 million from the sale of $100.0 million of receivables under the Receivables Purchase Agreement. As of June 28, 2025, none of the sold receivables
remained to be collected and remitted to the transferee. The expense recognized related to the discount on sales for the six months ended June 28, 2025 was $0.9 million.
Recently Issued Accounting Standards
Recently Issued Accounting Standards
Income Taxes
In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which is intended to improve income tax disclosure requirements by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure requirements. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. The Company will apply the guidance on a retrospective basis and the adoption is not expected to have a material impact on its condensed financial statements or related disclosures.
Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which includes requirements that an entity disclose in the notes to the financial statements specified information about certain costs and expenses, including the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation and (d) intangible asset amortization included in each relevant expense caption presented on the statement of operations. The standard also requires disclosure of a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, as well as the total amount of selling expenses and an entity’s definition of selling expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is evaluating the impact of the standard on its disclosures.
Fair Value Measurements
The Company is required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based upon market conditions and perceived risks. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities.
The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy:
•Level 1 - Inputs are based on quoted prices in active markets for identical assets and liabilities.
•Level 2 - Inputs are based on observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.
•Level 3 - One or more inputs are unobservable and significant.
v3.25.2
Revenue (Tables)
 6 Months Ended
Jun. 28, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Net Sales by Product Groups
The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Product groups
Residential pool$267,680 $260,025 $469,458 $451,903 
Commercial pool19,413 11,583 34,423 20,087 
Flow control12,510 12,785 24,563 24,972 
Total$299,603 $284,393 $528,444 $496,962 
Geographic
United States$235,524 $221,350 $408,596 $380,075 
Canada19,651 19,763 33,648 34,467 
Europe27,549 28,702 55,507 54,483 
Rest of World16,879 14,578 30,693 27,937 
Total International64,079 63,043 119,848 116,887 
Total$299,603 $284,393 $528,444 $496,962 
Schedule of Net Sales by Geographic Destinations
The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Product groups
Residential pool$267,680 $260,025 $469,458 $451,903 
Commercial pool19,413 11,583 34,423 20,087 
Flow control12,510 12,785 24,563 24,972 
Total$299,603 $284,393 $528,444 $496,962 
Geographic
United States$235,524 $221,350 $408,596 $380,075 
Canada19,651 19,763 33,648 34,467 
Europe27,549 28,702 55,507 54,483 
Rest of World16,879 14,578 30,693 27,937 
Total International64,079 63,043 119,848 116,887 
Total$299,603 $284,393 $528,444 $496,962 
v3.25.2
Inventories (Tables)
 6 Months Ended
Jun. 28, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories, Net
Inventories, net, consist of the following (in thousands):
June 28, 2025December 31, 2024
Raw materials$86,828 $94,168 
Work in progress21,237 20,013 
Finished goods120,227 102,291 
Total$228,292 $216,472 
v3.25.2
Accrued Expenses and Other Liabilities (Tables)
 6 Months Ended
Jun. 28, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Liabilities and Other Current Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
June 28, 2025December 31, 2024
Selling, promotional and advertising$48,687 $60,620 
Insurance reserve34,937 32,836 
Warranty reserve27,379 25,306 
Employee compensation and benefits23,285 28,860 
Inventory purchases17,728 24,002 
Operating lease liability - short term9,109 8,673 
Freight5,970 7,010 
Accrued Interest4,819 591 
Professional fees4,077 2,254 
Payroll taxes3,921 5,232 
Taxes - non income3,344 2,630 
Deferred income2,715 3,399 
Business restructuring costs1,146 1,304 
Short-term notes payable— 2,169 
Other accrued liabilities11,634 12,356 
Total$198,751 $217,242 
Schedule of Change in Warranty Reserve
The following table summarizes the warranty reserve activities (in thousands):

Balance at December 31, 2024
$25,306 
Accrual for warranties issued during the period 8,122 
Payments(6,741)
Balance at March 29, 2025
26,687 
Accrual for warranties issued during the period 10,385 
Payments(9,693)
Balance at June 28, 2025
27,379 
Balance at December 31, 2023
$22,154 
Accrual for warranties issued during the period 8,202 
Payments(6,999)
Balance at March 30, 2024
23,357 
Accrual for warranties issued during the period11,637 
Payments(10,124)
Balance at June 29, 2024
24,870 
v3.25.2
Long-Term Debt (Tables)
 6 Months Ended
Jun. 28, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt, net, consists of the following (in thousands):
June 28, 2025December 31, 2024
First Lien Term Facility, due May 28, 2028$962,500 $965,000 
ABL Revolving Credit Facility— — 
Other bank debt6,307 6,461 
Finance lease obligations1,743 2,448 
Subtotal970,550 973,909 
Less: Current portion of the long-term debt(13,412)(13,991)
Less: Unamortized debt issuance costs(8,074)(9,356)
Total$949,064 $950,562 
v3.25.2
Derivatives and Hedging Transactions (Tables)
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Effect of Derivative Instruments in the Statement of Financial Position and Operations and Comprehensive Income (Loss)
The following table summarizes the gross fair values and location of the significant derivative instruments within the Company’s unaudited condensed consolidated balance sheets (in thousands):
Other Current AssetsOther Non-Current AssetsAccrued Expenses and Other LiabilitiesOther Current AssetsOther Non-Current AssetsOther Non-Current Liabilities
June 28, 2025December 31, 2024
Interest rate swaps$— $8,350 $135 $1,083 $16,640 $92 
Foreign exchange contracts90 — 1,528 2,339 — — 
Total$90 $8,350 $1,663 $3,422 $16,640 $92 
The following table presents the effects of derivative instruments by contract type in accumulated other comprehensive income (“AOCI”) in the Company’s unaudited condensed consolidated statements of comprehensive income (in thousands):
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Three Months EndedThree Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Interest rate swaps (3)
$(767)$2,593 $2,398 $4,391 Interest expense, net
(1) The tax benefit and expense, respectively, on the (loss) gain recognized in AOCI for the three months ended June 28, 2025 and June 29, 2024 was $0.2 million and $0.7 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the three months ended June 28, 2025 and June 29, 2024 was $0.6 million and $1.1 million, respectively.
(3) The Company estimates that $6.5 million of unrealized gains will be reclassified from AOCI into earnings in the next twelve months.
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Six Months EndedSix Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Interest rate swaps$(4,227)$10,257 $5,188 $8,755 Interest expense, net
(1) The tax benefit and expense, respectively, on the (loss) gain recognized in AOCI for the six months ended June 28, 2025 and June 29, 2024 was $1.1 million and $2.6 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the six months ended June 28, 2025 and June 29, 2024 was $1.3 million and $2.2 million, respectively.
v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis (in thousands):
June 28, 2025December 31, 2024
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Assets:
Interest rate swaps
$— $8,350 $— $8,350 $— $17,723 $— $17,723 
Foreign exchange contracts
— 90 — 90 — 2,339 — 2,339 
Supplemental Retirement Plan assets
9,452 — — 9,452 7,741 — — 7,741 
Liabilities:
Interest rate swaps
$— $135 $— $135 $— $92 $— $92 
Foreign exchange contracts
— 1,528 — 1,528 — — — — 
Supplemental Retirement Plan liabilities
9,452 — — 9,452 7,741 — — 7,741 
Schedule of Financial Assets and Liabilities
The following table sets forth the Company’s financial liabilities that were not carried at fair value (in thousands):
June 28, 2025December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
Liabilities:
Long-term debt and related current maturities$962,500 $966,109 $965,000 $970,433 
v3.25.2
Segments and Related Information (Tables)
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary (in thousands):
Three Months EndedThree Months Ended
June 28, 2025June 29, 2024
North AmericaEurope & Rest of WorldTotalNorth AmericaEurope & Rest of WorldTotal
External net sales$255,175 $44,428 $299,603 $241,113 $43,280 $284,393 
Significant Segment Expenses
Cost of Sales114,615 27,149 141,764 113,683 25,623 139,306 
Segment selling, general and administrative expense51,390 9,358 60,748 46,325 9,019 55,344 
Research, development and engineering expense5,796 332 6,128 5,770 349 6,119 
Segment income83,374 7,589 90,963 75,335 8,289 83,624 
Capital expenditures (1)
6,941 530 7,471 4,222 560 4,782 
Depreciation and amortization (1)(2)
6,209 439 6,648 5,882 263 6,145 
Intersegment sales5,685 295 5,980 4,938 30 4,968 
Six Months EndedSix Months Ended
June 28, 2025June 29, 2024
North AmericaEurope & Rest of WorldTotalNorth AmericaEurope & Rest of WorldTotal
External net sales$442,244 $86,200 $528,444 $414,542 $82,420 $496,962 
Significant Segment Expenses
Cost of Sales202,948 54,282 257,230 197,235 50,061 247,296 
Segment selling, general and administrative expense101,015 17,130 118,145 90,486 17,357 107,843 
Research, development and engineering expense11,453 661 12,114 11,744 677 12,421 
Segment income126,828 14,127 140,955 115,077 14,325 129,402 
Capital expenditures (1)
12,840 742 13,582 9,461 1,227 10,688 
Depreciation and amortization (1)(2)
13,409 853 14,262 11,412 520 11,932 
Intersegment sales12,369 358 12,727 13,015 60 13,075 

(1) Capital expenditures and depreciation associated with Corporate are not included in these totals.
(2) Amortization expense excluded from segment income is not included in these totals.
The following table presents a reconciliation of segment income to income from operations before income taxes (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Total segment income$90,963 $83,624 $140,955 $129,402 
Corporate expense, net11,145 7,811 18,865 15,326 
Acquisition and restructuring related expense1,565 839 3,491 1,343 
Amortization of intangible assets6,870 6,949 13,705 13,849 
Operating income71,383 68,025 104,894 98,884 
Interest expense, net13,650 16,799 27,301 35,391 
Loss on debt extinguishment— 4,926 — 4,926 
Other (income) expense, net(1,706)(646)(527)(1,284)
Total other expense11,944 21,079 26,774 39,033 
Income from operations before income taxes$59,439 $46,946 $78,120 $59,851 
v3.25.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Net income attributable to common stockholders$44,799 $37,581 $59,132 $47,421 
Weighted average number of common shares outstanding, basic216,382,177 214,915,338 216,175,618 214,637,930 
Effect of dilutive securities(a)
5,452,011 6,343,894 5,680,438 6,521,489 
Weighted average number of common shares outstanding, diluted221,834,188 221,259,232 221,856,056 221,159,419 
Earnings per share attributable to common stockholders, basic$0.21 $0.17 $0.27 $0.22 
Earnings per share attributable to common stockholders, diluted$0.20 $0.17 $0.27 $0.21 
(a) For the three months ended June 28, 2025 and June 29, 2024 there were potential common shares totaling approximately 2.6 million and 2.5 million, respectively, and for the six months ended June 28, 2025 and June 29, 2024, there were potential common shares totaling approximately 2.0 million and 2.6 million, respectively, that were excluded from the computation of diluted EPS as the effect of inclusion of such shares would have been anti-dilutive.
v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Schedule of Lease, Cost
Supplemental cash flow information related to leases was as follows (in thousands):
Six Months Ended
June 28, 2025June 29, 2024
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$2,783 $4,486 
Finance leases344 508 
Schedule of Assets and Liabilities, Lessee
Supplemental balance sheet information related to leases was as follows (in thousands):
June 28, 2025December 31, 2024
Operating leases
Other non-current assets$53,150 $55,809 
Accrued expenses and other liabilities9,109 8,673 
Other non-current liabilities51,541 54,766 
Total operating lease liabilities60,650 63,439 
Finance leases
Property, plant and equipment7,473 8,936 
Accumulated depreciation(2,762)(2,892)
Property, plant and equipment, net4,711 6,044 
Current maturities of long-term debt904 1,753 
Long-term debt839 695 
Total finance lease liabilities$1,743 $2,448 
v3.25.2
Acquisitions and Restructuring (Tables)
 6 Months Ended
Jun. 28, 2025
Acquisition, Restructuring and Related Activities [Abstract]  
Schedule of Acquisition and Restructuring Related Expense
Acquisition and restructuring related expense, net consists of the following (in thousands):
Three Months Ended Six Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Business restructuring costs (income), net$(8)$284 $205 $788 
Acquisition transaction and integration costs1,573 555 3,286 555 
Total $1,565 $839 $3,491 $1,343 
Schedule of Charges for Facility Closure and Other One Time Termination Benefits
The following tables summarize the status of the Company’s restructuring related expense and related liability balances (in thousands):
2025 Activity
Liability as of December 31, 2024
Costs RecognizedCash Payments
Liability as of June 28, 2025
One-time termination benefits$1,534 $205 $(363)$1,376 
Other28 — (28)— 
Total$1,562 $205 $(391)$1,376 
2024 Activity
Liability as of December 31, 2023
Costs RecognizedCash PaymentsNon-cash charges
Liability as of June 29, 2024
One-time termination benefits$2,353 $385 $(2,022)$— $716 
Facility-related— 160 (160)— — 
Other6 243 (310)67 6 
Total$2,359 $788 $(2,492)$67 $722 
v3.25.2
Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income are provided in the tables below (in thousands):

Cumulative Translation AdjustmentUnrecognized (Losses) Gain on Derivative Instruments for Cash Flow HedgesAccumulated Other Comprehensive Income, Net of Taxes
Balance at December 31, 2024$(24,720)$13,223 $(11,497)
Other comprehensive (loss) income before reclassifications3,729 (3,460)269 
Amounts reclassified from accumulated other comprehensive income— (2,790)(2,790)
Net current period other comprehensive (loss) income3,729 (6,250)(2,521)
Tax Amounts— 1,562 1,562 
Balance at March 29, 2025$(20,991)$8,535 $(12,456)
Other comprehensive income before reclassifications12,607 (767)11,840 
Amounts reclassified from accumulated other comprehensive income— (2,398)(2,398)
Net current period other comprehensive income (loss)12,607 (3,165)9,442 
Tax Amounts— 792 792 
Balance at June 28, 2025$(8,384)$6,162 $(2,222)

Cumulative Translation AdjustmentUnrecognized (Losses) Gain on Derivative Instruments for Cash Flow HedgesAccumulated Other Comprehensive Income, Net of Taxes
Balance at December 31, 2023$(8,548)$15,715 $7,167 
Other comprehensive income (loss) before reclassifications(5,709)7,516 1,807 
Amounts reclassified from accumulated other comprehensive income— (4,364)(4,364)
Net current period other comprehensive income (loss)(5,709)3,152 (2,557)
Tax Amounts— (677)(677)
Balance at March 30, 2024$(14,257)$18,190 $3,933 
Other comprehensive income before reclassifications(2,332)2,742 410 
Amounts reclassified from accumulated other comprehensive income— (4,391)(4,391)
Net current period other comprehensive income (loss)(2,332)(1,649)(3,981)
Tax Amounts— 302 302 
Balance at June 29, 2024$(16,589)$16,843 $254 
v3.25.2
Nature of Operations and Organization (Details)
Jun. 28, 2025
manufacturing_facility
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of manufacturing facilities 7
v3.25.2
Significant Accounting Policies - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 28, 2025
Jul. 03, 2024
Accounting Policies [Abstract]      
Accounts receivable, held-for-sale     $ 125.0
Sale of accounts receivable $ 0.0    
Proceeds from sale   $ 99.1  
Receivables purchase agreements   100.0  
Investment sold   0.0  
Expense recognized related to the discount on sales   $ 0.9  
v3.25.2
Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Revenue from External Customer [Line Items]        
Net sales $ 299,603 $ 284,393 $ 528,444 $ 496,962
United States        
Revenue from External Customer [Line Items]        
Net sales 235,524 221,350 408,596 380,075
Total International        
Revenue from External Customer [Line Items]        
Net sales 64,079 63,043 119,848 116,887
Canada        
Revenue from External Customer [Line Items]        
Net sales 19,651 19,763 33,648 34,467
Europe        
Revenue from External Customer [Line Items]        
Net sales 27,549 28,702 55,507 54,483
Rest of World        
Revenue from External Customer [Line Items]        
Net sales 16,879 14,578 30,693 27,937
Residential pool        
Revenue from External Customer [Line Items]        
Net sales 267,680 260,025 469,458 451,903
Commercial pool        
Revenue from External Customer [Line Items]        
Net sales 19,413 11,583 34,423 20,087
Flow control        
Revenue from External Customer [Line Items]        
Net sales $ 12,510 $ 12,785 $ 24,563 $ 24,972
v3.25.2
Inventories (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 86,828 $ 94,168
Work in progress 21,237 20,013
Finished goods 120,227 102,291
Total $ 228,292 $ 216,472
v3.25.2
Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Mar. 29, 2025
Dec. 31, 2024
Jun. 29, 2024
Mar. 30, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]            
Selling, promotional and advertising $ 48,687   $ 60,620      
Insurance reserve 34,937   32,836      
Warranty reserve 27,379 $ 26,687 25,306 $ 24,870 $ 23,357 $ 22,154
Employee compensation and benefits 23,285   28,860      
Inventory purchases 17,728   24,002      
Operating lease liability - short term 9,109   8,673      
Freight 5,970   7,010      
Accrued Interest 4,819   591      
Professional fees 4,077   2,254      
Payroll taxes 3,921   5,232      
Taxes - non income 3,344   2,630      
Deferred income 2,715   3,399      
Business restructuring costs 1,146   1,304      
Short-term notes payable 0   2,169      
Other accrued liabilities 11,634   12,356      
Total $ 198,751   $ 217,242      
v3.25.2
Accrued Expenses and Other Liabilities - Warranty Reserve (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Mar. 30, 2024
Movement in Standard Product Warranty Accrual [Roll Forward]        
Beginning balance $ 26,687 $ 25,306 $ 23,357 $ 22,154
Accrual for warranties issued during the period 10,385 8,122 11,637 8,202
Payments (9,693) (6,741) (10,124) (6,999)
Ending balance $ 27,379 $ 26,687 $ 24,870 $ 23,357
v3.25.2
Accrued Expenses and Other Liabilities - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Payables and Accruals [Abstract]        
Warranty expense $ 10.4 $ 11.6 $ 18.5 $ 19.8
v3.25.2
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Income Tax Disclosure [Abstract]        
Effective tax rate 24.60% 19.90% 24.30% 20.80%
Uncertain tax, interest and penalties     $ 1.3 $ 1.3
v3.25.2
Long-Term Debt - Long-Term Debt (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Line of Credit Facility [Line Items]    
Other bank debt $ 6,307 $ 6,461
Finance lease obligations 1,743 2,448
Subtotal 970,550 973,909
Less: Current portion of the long-term debt (13,412) (13,991)
Less: Unamortized debt issuance costs (8,074) (9,356)
Total 949,064 950,562
Term Loan | First Lien Term Facility, due May 28, 2028    
Line of Credit Facility [Line Items]    
Long-term debt, gross 962,500 965,000
Revolving Credit Facility | ABL Revolving Credit Facility    
Line of Credit Facility [Line Items]    
Long-term debt, gross $ 0 $ 0
v3.25.2
Long-Term Debt - Additional Information (Details)
 1 Months Ended
Jun. 18, 2025
May 22, 2023
Apr. 30, 2023
Term Loan | First Lien Term Facility, Due May 28, 2028      
Line of Credit Facility [Line Items]      
Leverage ratio threshold for mandatory prepayment of zero   2.5  
Leverage ratio threshold for mandatory prepayment of fifty percent   3.0  
Term Loan | First Lien Term Facility, Due May 28, 2028 | Minimum      
Line of Credit Facility [Line Items]      
Mandatory annual prepayment, percentage of excess cash     0.00%
Term Loan | First Lien Term Facility, Due May 28, 2028 | Maximum      
Line of Credit Facility [Line Items]      
Mandatory annual prepayment, percentage of excess cash     50.00%
Line of Credit      
Line of Credit Facility [Line Items]      
Basis spread on variable rate 1000.00%    
v3.25.2
Derivatives and Hedging Transactions - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Derivative [Line Items]          
Other (expense) income $ 1,706 $ 646 $ 527 $ 1,284  
Interest Rate Swap | Cash Flow Hedging          
Derivative [Line Items]          
Derivative, notional amount 600,000   600,000   $ 600,000
Foreign Exchange Contracts          
Derivative [Line Items]          
Other (expense) income $ (2,900) $ (200) $ (3,700) $ 900  
v3.25.2
Derivatives and Hedging Transactions - Gross Fair Values and Location of Derivative Instruments (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Other Current Assets    
Derivatives, Fair Value [Line Items]    
Other Assets $ 90 $ 3,422
Other Current Assets | Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Other Assets 0 1,083
Other Current Assets | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Other Assets 90 2,339
Other Non-Current Assets    
Derivatives, Fair Value [Line Items]    
Other Assets 8,350 16,640
Other Non-Current Assets | Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Other Assets 8,350 16,640
Other Non-Current Assets | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Other Assets 0 0
Accrued Expenses and Other Liabilities    
Derivatives, Fair Value [Line Items]    
Other Liabilities 1,663  
Accrued Expenses and Other Liabilities | Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Other Liabilities 135  
Accrued Expenses and Other Liabilities | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Other Liabilities $ 1,528  
Other Non-Current Liabilities    
Derivatives, Fair Value [Line Items]    
Other Liabilities   92
Other Non-Current Liabilities | Interest rate swaps    
Derivatives, Fair Value [Line Items]    
Other Liabilities   92
Other Non-Current Liabilities | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Other Liabilities   $ 0
v3.25.2
Derivatives and Hedging Transactions - Effects of Derivative Instruments by Contract Type in AOCI (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Tax expense on the gain reclassified from AOCI to earnings $ 600 $ 1,100    
Interest Expense        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Tax (benefit) expense on the gain (loss) recognized in AOCI (200) 700 $ 1,100 $ 2,600
Tax expense on the gain reclassified from AOCI to earnings     1,300 2,200
Cash flow hedge gain to be reclassified within 12 months 6,500 6,500    
Interest Expense | Interest rate swaps        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gain (Loss) Recognized in AOCI, Interest rate swaps (767) 2,593 (4,227) 10,257
Gain (Loss) Reclassified From AOCI to Earnings, Interest rate swaps $ 2,398 $ 4,391 $ 5,188 $ 8,755
v3.25.2
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Interest rate swaps    
Debt Instrument [Line Items]    
Assets: $ 8,350 $ 17,723
Liabilities: 135 92
Interest rate swaps | Level 1    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: 0 0
Interest rate swaps | Level 2    
Debt Instrument [Line Items]    
Assets: 8,350 17,723
Liabilities: 135 92
Interest rate swaps | Level 3    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: 0 0
Foreign exchange contracts    
Debt Instrument [Line Items]    
Assets: 90 2,339
Liabilities: 1,528 0
Foreign exchange contracts | Level 1    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: 0 0
Foreign exchange contracts | Level 2    
Debt Instrument [Line Items]    
Assets: 90 2,339
Liabilities: 1,528 0
Foreign exchange contracts | Level 3    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: 0 0
Supplemental Retirement Plan assets    
Debt Instrument [Line Items]    
Assets: 9,452 7,741
Liabilities: 9,452 7,741
Supplemental Retirement Plan assets | Level 1    
Debt Instrument [Line Items]    
Assets: 9,452 7,741
Liabilities: 9,452 7,741
Supplemental Retirement Plan assets | Level 2    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: 0 0
Supplemental Retirement Plan assets | Level 3    
Debt Instrument [Line Items]    
Assets: 0 0
Liabilities: $ 0 $ 0
v3.25.2
Fair Value Measurements - Financial Assets and Liabilities Not Carried at Fair Value (Details) - Level 2 - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Carrying Value    
Debt Instrument [Line Items]    
Long-term debt and related current maturities $ 962,500 $ 965,000
Fair Value    
Debt Instrument [Line Items]    
Long-term debt and related current maturities $ 966,109 $ 970,433
v3.25.2
Segments and Related Information - Additional Information (Details)
 6 Months Ended
Jun. 28, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 2
v3.25.2
Segments and Related Information - Financial Information by Reportable Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Revenue, Major Customer [Line Items]        
External net sales $ 299,603 $ 284,393 $ 528,444 $ 496,962
Cost of Sales 141,764 139,306 257,230 247,296
Segment selling, general and administrative expense 71,893 63,155 137,010 123,169
Research, development and engineering expense 6,128 6,119 12,114 12,421
Segment income 71,383 68,025 104,894 98,884
Intersegment sales (299,603) (284,393) (528,444) (496,962)
Operating Segments        
Revenue, Major Customer [Line Items]        
External net sales 299,603 284,393 528,444 496,962
Cost of Sales 141,764 139,306 257,230 247,296
Segment selling, general and administrative expense 60,748 55,344 118,145 107,843
Research, development and engineering expense 6,128 6,119 12,114 12,421
Segment income 90,963 83,624 140,955 129,402
Capital expenditures 7,471 4,782 13,582 10,688
Depreciation and amortization 6,648 6,145 14,262 11,932
Intersegment sales (299,603) (284,393) (528,444) (496,962)
Intersegment sales        
Revenue, Major Customer [Line Items]        
External net sales (5,980) (4,968) 12,727 13,075
Intersegment sales 5,980 4,968 (12,727) (13,075)
North America | Operating Segments        
Revenue, Major Customer [Line Items]        
External net sales 255,175 241,113 442,244 414,542
Cost of Sales 114,615 113,683 202,948 197,235
Segment selling, general and administrative expense 51,390 46,325 101,015 90,486
Research, development and engineering expense 5,796 5,770 11,453 11,744
Segment income 83,374 75,335 126,828 115,077
Capital expenditures 6,941 4,222 12,840 9,461
Depreciation and amortization 6,209 5,882 13,409 11,412
Intersegment sales (255,175) (241,113) (442,244) (414,542)
North America | Intersegment sales        
Revenue, Major Customer [Line Items]        
External net sales (5,685) (4,938) 12,369 13,015
Intersegment sales 5,685 4,938 (12,369) (13,015)
Europe & Rest of World | Operating Segments        
Revenue, Major Customer [Line Items]        
External net sales 44,428 43,280 86,200 82,420
Cost of Sales 27,149 25,623 54,282 50,061
Segment selling, general and administrative expense 9,358 9,019 17,130 17,357
Research, development and engineering expense 332 349 661 677
Segment income 7,589 8,289 14,127 14,325
Capital expenditures 530 560 742 1,227
Depreciation and amortization 439 263 853 520
Intersegment sales (44,428) (43,280) (86,200) (82,420)
Europe & Rest of World | Intersegment sales        
Revenue, Major Customer [Line Items]        
External net sales (295) (30) 358 60
Intersegment sales $ 295 $ 30 $ (358) $ (60)
v3.25.2
Segments and Related Information - Reconciliation of Segment Income to Income from Operations Before Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Revenue, Major Customer [Line Items]        
Operating income $ 71,383 $ 68,025 $ 104,894 $ 98,884
Acquisition and restructuring related expense 1,565 839 3,491 1,343
Amortization of intangible assets 6,870 6,949 13,705 13,849
Interest expense, net 13,650 16,799 27,301 35,391
Loss on debt extinguishment 0 4,926 0 4,926
Other (income) expense, net (1,706) (646) (527) (1,284)
Total other expense 11,944 21,079 26,774 39,033
Income from operations before income taxes 59,439 46,946 78,120 59,851
Total segment income        
Revenue, Major Customer [Line Items]        
Operating income 90,963 83,624 140,955 129,402
Corporate expense, net        
Revenue, Major Customer [Line Items]        
Operating income $ 11,145 $ 7,811 $ 18,865 $ 15,326
v3.25.2
Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Mar. 30, 2024
Jun. 28, 2025
Jun. 29, 2024
Earnings Per Share [Abstract]            
Net income attributable to common stockholders $ 44,799 $ 14,333 $ 37,581 $ 9,840 $ 59,132 $ 47,421
Weighted Average Number of Shares Outstanding, Basic            
Weighted average number of common shares outstanding, basic (in shares) 216,382,177   214,915,338   216,175,618 214,637,930
Effect of dilutive securities (in shares) 5,452,011   6,343,894   5,680,438 6,521,489
Weighted average number of common shares outstanding, diluted (in shares) 221,834,188   221,259,232   221,856,056 221,159,419
Earnings Per Share, Basic and Diluted            
Earnings per share attributable to common stockholders, basic (in usd per share) $ 0.21   $ 0.17   $ 0.27 $ 0.22
Earnings per share attributable to common stockholders, diluted (in usd per share) $ 0.20   $ 0.17   $ 0.27 $ 0.21
Excluded from the weighted average number of common shares outstanding, dilutive due to being anti-dilutive (in shares) 2,600,000   2,500,000   2,000,000.0 2,600,000
v3.25.2
Commitments and Contingencies (Details)
$ in Millions
Dec. 11, 2024
USD ($)
Oct. 02, 2024
Dec. 19, 2023
classAction
Loss Contingencies [Line Items]      
Payments for legal settlements $ 22.0    
Loss contingency accrual 22.0    
Loss contingency receivable $ 22.0    
Number of period to file an amended complaint   30 days  
Southfield and Erie      
Loss Contingencies [Line Items]      
Number of security class actions | classAction     2
v3.25.2
Leases - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Right-of-use assets obtained in exchange for lease obligations:    
Operating leases $ 2,783 $ 4,486
Finance leases $ 344 $ 508
v3.25.2
Leases - Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Operating leases    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other non-current assets Other non-current assets
Other non-current assets $ 53,150 $ 55,809
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other liabilities Accrued expenses and other liabilities
Accrued expenses and other liabilities $ 9,109 $ 8,673
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Other non-current liabilities $ 51,541 $ 54,766
Total operating lease liabilities 60,650 63,439
Finance leases    
Property, plant and equipment 7,473 8,936
Accumulated depreciation $ (2,762) $ (2,892)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant, and equipment, net of accumulated depreciation of $118,219 and $112,099, respectively Property, plant, and equipment, net of accumulated depreciation of $118,219 and $112,099, respectively
Property, plant and equipment, net $ 4,711 $ 6,044
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current portion of long-term debt Current portion of long-term debt
Current maturities of long-term debt $ 904 $ 1,753
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt, net Long-term debt, net
Long-term debt $ 839 $ 695
Total finance lease liabilities $ 1,743 $ 2,448
v3.25.2
Stockholders’ Equity (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
USD ($)
vote
$ / shares
shares
Jun. 29, 2024
$ / shares
Jun. 28, 2025
USD ($)
vote
$ / shares
shares
Jun. 29, 2024
$ / shares
Dec. 31, 2024
$ / shares
shares
Equity [Abstract]          
Preferred stock, authorized (in shares) | shares 100,000,000   100,000,000   100,000,000
Preferred shares par value (in usd per share) $ 0.001   $ 0.001   $ 0.001
Common stock, authorized (in shares) | shares 750,000,000   750,000,000   750,000,000
Common stock, par value (in usd per share) $ 0.001   $ 0.001   $ 0.001
Number of votes | vote 1   1    
Common stock dividends declared (in usd per share)   $ 0   $ 0  
Common stock dividends cash paid (in usd per share) $ 0   $ 0    
Share repurchase program amount | $ $ 450.0   $ 450.0    
Number of shares repurchased (in shares) | shares 0        
Remaining amount authorized for repurchase | $ $ 400.0   $ 400.0    
v3.25.2
Stock-based Compensation (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
USD ($)
incentivePlan
Jun. 29, 2024
USD ($)
Jun. 28, 2025
USD ($)
incentivePlan
$ / shares
shares
Jun. 29, 2024
USD ($)
Mar. 31, 2021
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense | $ $ 3.4 $ 2.6 $ 6.3 $ 4.6  
Number of equity incentive plans | incentivePlan 2   2    
2021 Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Common shares authorized for future issuance (in shares)         13,737,500
2021 Plan | Stock Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock options, expiration term 10 years        
2021 Plan | Time-Based Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period 3 years        
Granted (in shares)     587,128    
Granted (in usd per share) | $ / shares     $ 14.37    
2021 Plan | Performance-Based Restricted Stock Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period 3 years        
Granted (in shares)     353,162    
Granted (in usd per share) | $ / shares     $ 15.31    
v3.25.2
Acquisitions and Restructuring - Acquisition and Restructuring Related Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Acquisition, Restructuring and Related Activities [Abstract]        
Business restructuring costs (income), net $ (8) $ 284 $ 205 $ 788
Acquisition transaction and integration costs 1,573 555 3,286 555
Total $ 1,565 $ 839 $ 3,491 $ 1,343
v3.25.2
Acquisitions and Restructuring - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 26, 2024
Jun. 28, 2025
Jun. 28, 2025
ChlorKing      
Restructuring Cost and Reserve [Line Items]      
Consideration transferred $ 55.2    
Transaction costs   $ 1.6 $ 3.3
Relocation Of Corporate Office      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges   0.2  
Enterprise Cost Reduction Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges   5.7  
Employee Severance | Enterprise Cost Reduction Program      
Restructuring Cost and Reserve [Line Items]      
Expected restructuring costs   3.2 3.2
Employee Severance | Centralization and Consolidation of Manufacturing Operations and Professional Services in Europe Program      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges   $ 0.3 $ 0.7
v3.25.2
Acquisitions and Restructuring - Facility Closure and Other One-Time Termination Benefits (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Restructuring Reserve [Roll Forward]    
Beginning balance $ 1,562 $ 2,359
Costs Recognized 205 788
Cash Payments (391) (2,492)
Non-cash charges   67
Ending balance 1,376 722
One-time termination benefits    
Restructuring Reserve [Roll Forward]    
Beginning balance 1,534 2,353
Costs Recognized 205 385
Cash Payments (363) (2,022)
Non-cash charges   0
Ending balance 1,376 716
Facility-related    
Restructuring Reserve [Roll Forward]    
Beginning balance   0
Costs Recognized   160
Cash Payments   (160)
Non-cash charges   0
Ending balance   0
Other    
Restructuring Reserve [Roll Forward]    
Beginning balance 28 6
Costs Recognized 0 243
Cash Payments (28) (310)
Non-cash charges   67
Ending balance $ 0 $ 6
v3.25.2
Accumulated Other Comprehensive Income - AOCI Rollforward (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Mar. 30, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance $ 1,439,379 $ 1,423,647 $ 1,320,492 $ 1,311,458
Other comprehensive (loss) income before reclassifications 11,840 269 410 1,807
Amounts reclassified from accumulated other comprehensive income (2,398) (2,790) (4,391) (4,364)
Net current period other comprehensive (loss) income 9,442 (2,521) (3,981) (2,557)
Tax Amounts 792 1,562 302 (677)
Ending balance 1,498,398 1,439,379 1,357,398 1,320,492
Accumulated Other Comprehensive Income, Net of Taxes        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance (12,456) (11,497) 3,933 7,167
Ending balance (2,222) (12,456) 254 3,933
Cumulative Translation Adjustment        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance (20,991) (24,720) (14,257) (8,548)
Other comprehensive (loss) income before reclassifications 12,607 3,729 (2,332) (5,709)
Amounts reclassified from accumulated other comprehensive income 0 0 0 0
Net current period other comprehensive (loss) income 12,607 3,729 (2,332) (5,709)
Tax Amounts 0 0 0 0
Ending balance (8,384) (20,991) (16,589) (14,257)
Unrecognized (Losses) Gain on Derivative Instruments for Cash Flow Hedges        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Beginning balance 8,535 13,223 18,190 15,715
Other comprehensive (loss) income before reclassifications (767) (3,460) 2,742 7,516
Amounts reclassified from accumulated other comprehensive income (2,398) (2,790) (4,391) (4,364)
Net current period other comprehensive (loss) income (3,165) (6,250) (1,649) 3,152
Tax Amounts 792 1,562 302 (677)
Ending balance $ 6,162 $ 8,535 $ 16,843 $ 18,190
v3.25.2
Subsequent Events (Details) - USD ($)
$ in Millions
Jul. 28, 2025
Jun. 28, 2025
Subsequent Event [Line Items]    
Share repurchase program amount   $ 450.0
Subsequent Event    
Subsequent Event [Line Items]    
Share repurchase program amount $ 450.0