Segment Information (Tables)

6 Months Ended

Jul. 02, 2022

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

Segment information is summarized as follows: 

	Three Months Ended				Six Months Ended
(in thousands)	July 2, 2022		June 26, 2021		July 2, 2022		June 26, 2021
Net sales
Electronics	$	358,176	$	325,347	$	723,997	$	611,882
Transportation	182,027		133,318		366,531		261,847
Industrial	78,233		64,823		151,238		113,553
Total net sales	$	618,436	$	523,488	$	1,241,766	$	987,282
Depreciation and amortization
Electronics	$	14,511	$	15,114	$	29,904	30,495
Transportation	10,628		6,946		21,372		14,019
Industrial	2,181		2,155		4,342		3,899
Total depreciation and amortization	$	27,320	$	24,215	$	55,618	$	48,413
Operating income
Electronics	$	105,958	$	74,236	$	226,535	$	129,759
Transportation	18,309		19,258		44,617		39,574
Industrial	15,285		8,375		27,790		11,881
Other(a)	(5,388)		(5,612)		(14,188)		(8,476)
Total operating income	134,164		96,257		284,754		172,738
Interest expense	4,368		4,626		8,670		9,299
Foreign exchange loss (gain)	14,124		(1,676)		21,860		5,161
Other expense (income), net	6,060		(1,890)		10,487		(9,627)
Income before income taxes	$	109,612	$	95,197	$	243,737	$	167,905

(a) Included in “Other” Operating income for the second quarter of 2022 was $4.8 million ($8.6 million year-to-date) of legal and professional fees and other integration expenses related to completed and contemplated acquisitions, and $0.6 million ($0.8 million year-to-date) of restructuring, impairment and other charges, primarily related to employee termination costs, and $4.8 million year-to-date of purchase accounting inventory step-up charges. See Note 7, Restructuring, Impairment, and Other Charges, for further discussion.

Schedule of disclosure on geographic areas, long-lived assets in individual foreign countries by country

The Company’s net sales by country were as follows: 

	Three Months Ended				Six Months Ended
(in thousands)	July 2, 2022		June 26, 2021		July 2, 2022		June 26, 2021
Net sales
United States	$	224,743	$	154,797	$	444,981	$	285,728
China	162,322		156,086		327,104		295,244
Other countries(a)	231,371		212,605		469,681		406,310
Total net sales	$	618,436	$	523,488	$	1,241,766	$	987,282

 The Company’s long-lived assets by country were as follows:

(in thousands)	July 2, 2022		January 1, 2022
Long-lived assets
United States	$	65,445	$	57,923
China	115,567		122,867
Mexico	108,829		107,283
Germany	36,495		39,055
Philippines	77,256		74,918
Other countries(a)	32,091		35,843
Total long-lived assets	$	435,683	$	437,889

The Company’s additions to long-lived assets by country were as follows:

	Six Months Ended
(in thousands)	July 2, 2022		June 26, 2021
Additions to long-lived assets
United States	$	6,527	$	1,732
China	15,623		7,127
Mexico	14,244		13,231
Germany	2,432		2,533
Philippines	10,138		6,941
Other countries(a)	2,558		1,793
Total additions to long-lived assets	$	51,522	$	33,357

(a)Each country included in other countries is less than 10% of net sales.