Segment and Geographic Information

9 Months Ended

Sep. 28, 2024

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

Segment results are as follows:

	For the Three Months Ended				For the Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Net Sales:
Light Duty	$	393,577	$	374,697	$	1,138,228	$	1,076,619
Heavy Duty	59,615		62,841		178,613		199,495
Specialty Vehicle	50,581		50,648		158,584		159,378
Total	$	503,773	$	488,186	$	1,475,425	$	1,435,492
Segment profit:
Light Duty	$	74,632	$	60,457	$	198,339	$	122,917
Heavy Duty	2,660		1,861		5,390		10,595
Specialty Vehicle	8,624		6,840		25,823		23,625
Total	$	85,916	$	69,158	$	229,552	$	157,137

A reconciliation of segment profit to income before income taxes is as follows:

	For the Three Months Ended				For the Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Segment profit	$	85,916	$	69,158	$	229,552	$	157,137
Acquisition-related intangible assets amortization	(6,173)		(5,485)		(17,138)		(16,336)
Acquisition-related transaction and other costs	(396)		(465)		(1,327)		(14,880)
Pretax reduction in workforce costs	(76)		—		(4,926)		(1,801)
Fair value adjustment to contingent consideration	—		1,000		—		13,400
Interest expense, net	(9,762)		(12,215)		(30,569)		(36,733)
Other income, net	1,615		605		1,711		1,358
Income before income taxes	$	71,124	$	52,598	$	177,303	$	102,145

The following table presents our net sales by geographic region:

	Three Months Ended				Nine Months Ended
(in thousands)	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Net sales to U.S. customers	$	464,132	$	448,360	$	1,355,501	$	1,317,353
Net sales to non-U.S. customers	39,641		39,826		119,924		118,139
Total	$	503,773	$	488,186	$	1,475,425	$	1,435,492