Quarterly report [Sections 13 or 15(d)]

ACQUISITION (Tables)

v3.25.2
ACQUISITION (Tables)
 6 Months Ended
Jun. 28, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The following table summarizes the preliminary purchase price allocation of the estimated fair values of assets acquired and liabilities assumed at the Closing Date of the Acquisition:
(In thousands) May 31, 2025
Cash and cash equivalents
 $ 33,467 
Accounts receivable, net
 82,275 
Inventories
 172,212 
Prepaid expenses and other current assets
 13,902 
Property, plant and equipment
 35,615 
Operating lease assets
 96,640 
Intangible assets
 440,000 
Deferred income tax assets
 14,085 
Other assets
 38,841 
Total assets acquired
 $ 927,037 
Accounts payable
 $ 53,763 
Accrued and other current liabilities
 70,137 
Operating lease liabilities, current
 15,463 
Operating lease liabilities, noncurrent
 81,527 
Deferred income tax liabilities
 79,443 
Other liabilities
 881 
Total liabilities assumed
 $ 301,214 
Net assets acquired
 $ 625,823 
Goodwill
 277,702 
Purchase price
 $ 903,525 
Business Combination, Pro Forma Information
The following table summarizes unaudited pro forma results of operations for the Company assuming that the Acquisition had occurred on December 31, 2023, which is the first day of fiscal year 2024:
Three Months Ended June
Six Months Ended June
(In thousands, except per share amounts)
2025 2024 2025 2024
Net revenues $ 736,090  $ 709,830  $ 1,510,283  $ 1,490,781 
Net income
 $ 46,591  $ 37,172  $ 129,853  $ 107,168 
Earnings per common share
Basic
 $ 0.84  $ 0.67  $ 2.34  $ 1.92 
Diluted
 $ 0.83  $ 0.66  $ 2.32  $ 1.89