Entegris (ENTG) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 29, 2024	Jul. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	001-32598
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	129 Concord Road,
Entity Address, City or Town	Billerica,
Entity Address, State or Province	MA
Entity Tax Identification Number	41-1941551
Entity Address, Postal Zip Code	01821
City Area Code	978
Local Phone Number	436-6500
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
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	ENTG
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		150,978,385
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	ENTEGRIS INC
Entity Central Index Key	0001101302
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 320,008	$ 456,929
Trade accounts receivable, net of allowance for credit losses of $5,509 and $6,412	457,107	457,052
Inventories, net	633,373	607,051
Deferred tax charges and refundable income taxes	52,690	63,879
Assets held-for-sale	6,195	278,753
Other current assets	107,413	113,663
Total current assets	1,576,786	1,977,327
Property, plant and equipment, net of accumulated depreciation of $983,070 and $908,089	1,495,098	1,468,043
Other assets:
Right-of-use assets - Operating lease	61,396	57,990
Right-of-use assets - Finance lease	22,314	22,409
Goodwill	3,943,893	3,945,860
Intangible assets, net of accumulated amortization of $906,496 and $808,298	1,184,955	1,281,969
Deferred tax assets and other noncurrent tax assets	24,059	31,432
Other assets	28,085	27,561
Total assets	8,336,586	8,812,591
Current liabilities:
Accounts payable	141,579	134,211
Accrued payroll and related benefits	90,303	109,559
Accrued interest payable	24,360	24,759
Liabilities held-for-sale	662	19,223
Other accrued liabilities	120,538	148,840
Income taxes payable	62,416	77,403
Total current liabilities	439,858	513,995
Long-term debt, net of unamortized discount and debt issuance costs of $72,767 and $91,633	4,122,233	4,577,141
Pension benefit obligations and other liabilities	53,789	53,733
Deferred tax liabilities and other noncurrent tax liabilities	146,516	190,142
Long term lease liability - Operating lease	52,332	49,719
Long term lease liability - Finance lease	19,468	19,267
Equity:
Preferred stock, par value $0.01; 5,000 shares authorized; none issued and outstanding as of June 29, 2024 and December 31, 2023	0	0
Common stock, par value $0.01; 400,000 shares authorized; issued and outstanding shares as of June 29, 2024: 151,029 and 150,827, respectively; issued and outstanding shares as of December 31, 2023: 150,566 and 150,364, respectively	1,510	1,506
Treasury stock, at cost: 202 shares held as of June 29, 2024 and December 31, 2023	(7,112)	(7,112)
Additional paid-in capital	2,335,321	2,305,367
Retained earnings	1,234,487	1,151,765
Accumulated other comprehensive loss	(61,816)	(42,932)
Total equity	3,502,390	3,408,594
Total liabilities and equity	$ 8,336,586	$ 8,812,591

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Accounts and Financing Receivable, Allowance for Credit Loss	$ 5,509	$ 6,412
Property, plant and equipment, accumulated depreciation	983,070	908,089
Intangible assets, Accumulated amortization	906,496	808,298
Unamortized discount and debt issuance costs	$ 72,767	$ 91,633
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000	400,000
Common stock, shares issued	151,029	150,566
Common stock, shares outstanding	150,827	150,364
Treasury stock, shares outstanding	202	202

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Net Sales	$ 812,652	$ 901,000	$ 1,583,677	$ 1,823,396
Cost of sales	436,833	516,834	856,038	1,037,545
Gross profit	375,819	384,166	727,639	785,851
Selling, general and administrative expenses	116,315	145,596	228,508	315,463
Engineering, research and development expenses	81,885	71,030	153,761	142,936
Amortization of intangible assets	47,513	54,680	97,672	112,254
Goodwill, Impairment Loss	0	0	0	88,872
Gain on termination of alliance agreement	0	154,754	0	154,754
Operating income	130,106	267,614	247,698	281,080
Interest expense	53,687	80,908	111,060	167,054
Interest income	(1,160)	(2,303)	(4,154)	(3,628)
Other expense, net	2,977	7,724	17,262	3,066
Income before income tax expense (benefit)	74,602	181,285	123,530	114,588
Income tax expense (benefit)	6,689	(16,491)	10,145	4,978
Equity in net loss of affiliates	217	130	423	130
Net income	$ 67,696	$ 197,646	$ 112,962	$ 109,480
Basic earnings per common share	$ 0.45	$ 1.32	$ 0.75	$ 0.73
Diluted earnings per common share	$ 0.45	$ 1.31	$ 0.74	$ 0.73
Weighted average shares outstanding:
Basic	150,801	149,825	150,675	149,626
Diluted	151,819	150,837	151,769	150,609

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Net income	$ 67,696	$ 197,646	$ 112,962	$ 109,480
Other comprehensive loss, net of tax
Foreign currency translation adjustments	(5,140)	(38,011)	(14,791)	(14,277)
Pension liability adjustments	0	0	(379)	37
Interest rate swap - cash flow hedge	(2,641)	9,716	(3,714)	(239)
Other comprehensive loss	(7,781)	(28,295)	(18,884)	(14,479)
Comprehensive income	$ 59,915	$ 169,351	$ 94,078	$ 95,001

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income Paranthetical - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Supplemental Income Statement Elements [Abstract]
Other Comprehensive Income (Loss), Tax	$ (770)	$ (1,083)	$ 2,834	$ (69)

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Equity Condensed Consolidatd Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock, Common	Additional Paid-in Capital	Retained Earnings	Foreign currency translation adjustments	Defined benefit pension adjustments	Interest rate swap - cash flow hedge
Beginning Balance at Dec. 31, 2022	$ 3,218,000	$ 1,493	$ (7,112)	$ 2,205,325	$ 1,031,391	$ (49,083)	$ (83)	$ 36,069
Common Stock , Issued, Beginning at Dec. 31, 2022		149,339
Balance (in shares) Beginning at Dec. 31, 2022		149,137	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under stock plans (in shares)		530
Shares issued under stock plans	8,987	$ 6		8,981
Share-based compensation expense	30,678			30,678
Dividends, Common Stock, Cash	(15,092)				(15,092)
Interest rate swap - cash flow hedge	(9,955)							(9,955)
Pension liability adjustments	37						37
Foreign currency translation adjustments	23,734					23,734
Net income	(88,166)				(88,166)
Ending Balance at Apr. 01, 2023	3,168,223	$ 1,499	$ (7,112)	2,244,984	928,133	(25,349)	(46)	26,114
Common Stock , Issued, Ending at Apr. 01, 2023		149,869
Balance (in shares) Ending at Apr. 01, 2023		149,667	(202)
Beginning Balance at Dec. 31, 2022	3,218,000	$ 1,493	$ (7,112)	2,205,325	1,031,391	(49,083)	(83)	36,069
Common Stock , Issued, Beginning at Dec. 31, 2022		149,339
Balance (in shares) Beginning at Dec. 31, 2022		149,137	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Interest rate swap - cash flow hedge	(239)
Pension liability adjustments	37
Foreign currency translation adjustments	(14,277)
Net income	109,480
Ending Balance at Jul. 01, 2023	3,352,205	$ 1,503	$ (7,112)	2,274,572	1,110,818	(63,360)	(46)	35,830
Common Stock , Issued, Ending at Jul. 01, 2023		150,308
Balance (in shares) Ending at Jul. 01, 2023		150,106	(202)
Beginning Balance at Apr. 01, 2023	3,168,223	$ 1,499	$ (7,112)	2,244,984	928,133	(25,349)	(46)	26,114
Common Stock , Issued, Beginning at Apr. 01, 2023		149,869
Balance (in shares) Beginning at Apr. 01, 2023		149,667	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under stock plans (in shares)		439
Shares issued under stock plans	18,134	$ 4		18,130
Share-based compensation expense	11,458			11,458
Dividends, Common Stock, Cash	(14,961)				(14,961)			0
Interest rate swap - cash flow hedge	9,716							9,716
Pension liability adjustments	0
Foreign currency translation adjustments	(38,011)					(38,011)
Net income	197,646				197,646
Ending Balance at Jul. 01, 2023	3,352,205	$ 1,503	$ (7,112)	2,274,572	1,110,818	(63,360)	(46)	35,830
Common Stock , Issued, Ending at Jul. 01, 2023		150,308
Balance (in shares) Ending at Jul. 01, 2023		150,106	(202)
Beginning Balance at Dec. 31, 2023	3,408,594	$ 1,506	$ (7,112)	2,305,367	1,151,765	(61,880)	314	18,634
Common Stock , Issued, Beginning at Dec. 31, 2023		150,566
Balance (in shares) Beginning at Dec. 31, 2023		150,364	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under stock plans (in shares)		405
Shares issued under stock plans	(5,455)	$ 4		(5,459)
Share-based compensation expense	7,908			7,908
Dividends, Common Stock, Cash	(15,040)				(15,040)
Interest rate swap - cash flow hedge	(1,073)							(1,073)
Pension liability adjustments	(379)						(379)
Foreign currency translation adjustments	(9,651)					(9,651)	0
Net income	45,266				45,266		0
Ending Balance at Mar. 30, 2024	3,430,170	$ 1,510	$ (7,112)	2,307,816	1,181,991	(71,531)	(65)	17,561
Common Stock , Issued, Ending at Mar. 30, 2024		150,971
Balance (in shares) Ending at Mar. 30, 2024		150,769	(202)
Beginning Balance at Dec. 31, 2023	3,408,594	$ 1,506	$ (7,112)	2,305,367	1,151,765	(61,880)	314	18,634
Common Stock , Issued, Beginning at Dec. 31, 2023		150,566
Balance (in shares) Beginning at Dec. 31, 2023		150,364	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Interest rate swap - cash flow hedge	(3,714)
Pension liability adjustments	(379)
Foreign currency translation adjustments	(14,791)
Net income	112,962
Ending Balance at Jun. 29, 2024	3,502,390	$ 1,510	$ (7,112)	2,335,321	1,234,487	(76,671)	(65)	14,920
Common Stock , Issued, Ending at Jun. 29, 2024		151,029
Balance (in shares) Ending at Jun. 29, 2024		150,827	(202)
Beginning Balance at Mar. 30, 2024	3,430,170	$ 1,510	$ (7,112)	2,307,816	1,181,991	(71,531)	(65)	17,561
Common Stock , Issued, Beginning at Mar. 30, 2024		150,971
Balance (in shares) Beginning at Mar. 30, 2024		150,769	(202)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under stock plans (in shares)		58
Shares issued under stock plans	616			616
Share-based compensation expense	26,889			26,889
Dividends, Common Stock, Cash	(15,200)				(15,200)
Interest rate swap - cash flow hedge	(2,641)							(2,641)
Pension liability adjustments	0
Foreign currency translation adjustments	(5,140)					(5,140)	0
Net income	67,696				67,696
Ending Balance at Jun. 29, 2024	$ 3,502,390	$ 1,510	$ (7,112)	$ 2,335,321	$ 1,234,487	$ (76,671)	$ (65)	$ 14,920
Common Stock , Issued, Ending at Jun. 29, 2024		151,029
Balance (in shares) Ending at Jun. 29, 2024		150,827	(202)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.10	$ 0.10	$ 0.10	$ 0.10

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Operating activities:
Net income	$ 112,962	$ 109,480
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	92,750	90,494
Amortization	97,672	112,254
Share-based compensation expense	34,797	42,136
Provision for deferred income taxes	(24,088)	(66,814)
Impairment of goodwill	0	88,872
Loss on extinguishment of debt	11,385	7,269
(Gain) loss from sale of businesses and held-for-sale assets, net	(4,311)	28,577
Gain on termination of alliance agreement	0	154,754
Charge for excess and obsolete inventory	21,122	23,287
Impairment of Long-Lived Assets to be Disposed of	12,967	0
Amortization of debt issuance costs and original issuance discounts	7,797	11,668
Other	6,378	14,571
Changes in operating assets and liabilities:
Trade accounts receivable	(11,908)	17,941
Inventories	(50,659)	(5,009)
Accounts payable and accrued liabilities	(42,634)	(23,595)
Other current assets	3,112	(1,534)
Income taxes payable and refundable income taxes	(16,923)	(15,570)
Other	7,979	(384)
Net cash provided by operating activities	258,398	278,889
Investing activities:
Acquisition of property, plant and equipment	(125,889)	(250,043)
Proceeds from sale of businesses, net	249,600	134,286
Proceeds from termination of alliance agreement	0	169,251
Other	(1,917)	366
Net cash provided by investing activities	121,794	53,860
Financing activities:
Proceeds from revolving credit facility and short-term debt	30,000	0
Payments of revolving credit facility and short-term debt	(30,000)	(135,000)
Proceeds from long-term debt	224,537	117,170
Payments of long-term debt	698,311	293,671
Payments for debt issuance costs	0	(3,475)
Payments for dividends	(30,355)	(30,150)
Issuance of common stock	10,467	36,767
Taxes paid related to net share settlement of equity awards	(15,306)	(9,646)
Other	(902)	(578)
Net cash used in financing activities	(509,870)	(318,583)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(7,243)	(10,588)
(Decrease) increase in cash, cash equivalents and restricted cash	(136,921)	3,578
Cash, cash equivalents and restricted cash at beginning of period	456,929	563,439
Cash, cash equivalents and restricted cash at end of period	320,008	567,017
Supplemental Cash Flow Information
Due from buyer on sale of business	1,189	0
Equipment purchases in accounts payable	23,708	22,607
Dividend payable	613	557
Schedule of interest and taxes paid
Interest paid, net of capitalized interest	107,034	260,282
Income taxes paid, net of refunds received	$ 53,002	$ 85,913

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Nature of Operations Entegris, Inc. (“Entegris”, the “Company”, “us”, “we”, or “our”) is a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, income taxes and related accounts, and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and contain all adjustments considered necessary, and are of a normal recurring nature, to present fairly the Company’s financial position as of June 29, 2024 and December 31, 2023, the results of operations and comprehensive income for the three and six months ended June 29, 2024 and July 1, 2023, the equity statements as of and for the three and six months ended June 29, 2024 and July 1, 2023, and cash flows for the six months ended June 29, 2024 and July 1, 2023. The condensed consolidated financial statements and accompanying notes are presented as permitted by Form 10-Q and do not contain certain information included in the Company’s annual consolidated financial statements and notes. The information included in this Quarterly Report should be read in conjunction with Management’s Discussion and Analysis and consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The results of operations for the three and six months ended June 29, 2024 are not necessarily indicative of the results to be expected for the full year. Recently Adopted Accounting Pronouncements The Company currently has no material recently adopted accounting pronouncements. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal year 2024 and interim periods beginning in the first quarter of fiscal year 2025. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” that requires entities to disclose additional information about federal, state, and foreign income taxes primarily related to the income tax rate reconciliation and income taxes paid. The new standard also eliminates certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. The guidance is effective for our annual periods beginning in fiscal year 2025. The guidance does not affect recognition or measurement in our condensed consolidated financial statements.

Revenues Revenues

Revenues Revenues	6 Months Ended
	Jun. 29, 2024
Revenues [Abstract]
Revenue from Contract with Customer	The following table provides information about current contract liabilities from contracts with customers. The contract liabilities are included in Other accrued liabilities in the condensed consolidated balance sheets. (In thousands) June 29, 2024 July 1, 2023 Balance at beginning of period $ 69,051 $ 60,476 Revenue recognized that was included in the contract liability balance at the beginning of the period (47,511) (43,905) Increases due to cash received, excluding amounts recognized as revenue during the period 31,640 79,621 Contract liabilities included as part of dispositions and held-for-sale — (6,226) Balance at end of period $ 53,180 $ 89,966

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Other	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure	Electronic Chemicals During the first quarter of 2023, while the criteria to classify the reporting unit as held-for-sale had not been met, the Company was exploring market interest in a potential sale of the Electronic Chemicals (“EC”) reporting unit within the Materials Solutions (“MS”) segment. In connection with the sale process, management determined that certain impairment indicators were present and evaluated goodwill, intangible assets, and long-lived assets for impairment in connection with the quarter ended April 1, 2023. The Company completed the divestiture of the EC business on October 2, 2023. Long-lived assets, including finite-lived intangible assets During the first quarter of 2023, the Company compared the estimated undiscounted future cash flows generated by the asset group to the carrying amount of the asset group for the reporting unit and determined that the undiscounted cash flows were expected to exceed the carrying value on a held and used basis. Therefore, no impairment was recorded on the long-lived assets or finite-lived intangible assets. The Company considered if the triggering event would cause a potential change to the useful life of the assets and determined no modification to the useful life of the assets was necessary. Goodwill The Company compared the reporting unit’s fair value to its carrying amount, including goodwill as of April 1, 2023. As the reporting unit’s carrying amount, including goodwill, exceeded its fair value, the Company determined the goodwill was impaired and recorded an impairment of $88.9 million during the quarter ended April 1, 2023. The impairment was classified as Goodwill impairment in the Company’s condensed consolidated statements of operations. The goodwill impairment was non taxable. The fair value of the reporting unit was determined using a market-based approach, which was aligned to the expected selling price of approximately $700.0 million. We consider this a Level 3 measurement in the fair value hierarchy. There was no goodwill impairment charge recorded during the three and six months ended June 29, 2024. Other business The Company recorded an impairment charge of $13.0 million related to the long-lived assets of a small, industrial specialty chemicals business that reports within the MS segment due to a change in the fair value of the reporting unit for the three months ended March 30, 2024. The impairment is classified as Selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. No further impairment charge was recorded in the three months ended June 29, 2024. The fair value of the reporting unit was determined using a market-based approach. We consider this a Level 3 measurement in the fair value hierarchy. This business remains classified as an asset held-for-sale as of June 29, 2024; see Note 4 for further discussion.

Assets Held For Sale

Assets Held For Sale	3 Months Ended
	Jun. 29, 2024
Asset, Held-for-Sale, Not Part of Disposal Group [Abstract]
Assets Held For Sale	Asset Held-For-Sale - Other During the fourth quarter of 2023, the Company began the process to sell a small, industrial specialty chemicals business that reports within the MS segment. The related assets and liabilities of the business were classified as held-for-sale in the Company’s condensed consolidated balance sheets and measured at the lower of their carrying amount or fair value less cost to sell. The assets and liabilities continue to be marketed for sale and are classified as held-for-sale at June 29, 2024. The proposed disposition of the business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements since the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results. Assets held-for-sale and liabilities held-for-sale recorded on the balance sheet were $6.2 million and $0.7 million, respectively, as of June 29, 2024. The loss before income taxes attributable to the business was not significant for the three and six months ended June 29, 2024, respectively, except for the impairment charge of $13.0 million as noted in Note 3 for the six months ended June 29, 2024. Divestiture - Pipeline and Industrial Materials During the first quarter of 2024, the Company completed the sale of its Pipeline and Industrial Materials (“PIM”) business, which became part of the Company with the acquisition of CMC Materials, to SCF Partners, Inc. The PIM business specializes in the manufacture and sale of drag reducing agents and a range of valve maintenance products and services for the oil and gas industry, and reported into the MS segment of the Company. The Company received gross cash proceeds of $263.2 million, or expected net proceeds of $256.2 million, which remains subject to customary final post-closing adjustment and up to $25.0 million in cash earn-out payments contingent upon the performance of the PIM business in 2025 and 2026. The Company’s policy is to account for the contingent consideration arrangement in accordance with ASC 450, Contingencies (Subtopic 450-30). Under this approach, the Company recognizes the contingent consideration receivable in earnings after the contingency is resolved. Accordingly, to determine the initial gain on the sale of the PIM business, the Company did not include an amount related to the contingent consideration arrangement as part of the consideration received. The following table summarizes the fair value of the sale proceeds received in connection with the divestiture, which are subject to final post-closing adjustment: (In thousands) March 1, 2024 Cash proceeds received, gross $ 263,208 Preliminary working capital adjustment 1,189 Cash transferred to the buyer on the closing balance sheet (230) Direct costs to sell (8,005) Fair value of sale consideration $ 256,162 The disposition of the PIM business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements since the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results. The carrying amount of net assets associated with the PIM business was approximately $252.8 million. The major classes of assets and liabilities sold consisted of the following: (In thousands) Assets: March 1, 2024 Current assets $ 58,684 Property, plant and equipment, net 118,146 Intangible assets, net 76,692 Goodwill 12,707 Other assets 2,500 Total assets held-for-sale $ 268,729 Liabilities: Accounts payable $ 9,485 Accrued expenses 4,672 Long-term liabilities 1,737 Total liabilities held-for-sale $ 15,894 As a result of the sale of the PIM business, the Company recognized a pre-tax loss (gain) of $0.5 million and $(4.3) million, inclusive of a $1.0 million gain reclassified from Accumulated other comprehensive loss for foreign currency translation, presented in Selling, general and administrative expenses in the condensed consolidated statements of operations for the three and six months ended June 29, 2024, respectively. The Company recorded an income tax (benefit) expense associated with the PIM divestiture of approximately $(0.1) million and $1.0 million for the three and six months ended June 29, 2024, respectively.

Inventories

Inventories	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (In thousands) June 29, 2024 December 31, 2023 Raw materials $ 253,642 $ 248,656 Work-in-process 55,124 49,704 Finished goods (1) 324,607 308,691 Total inventories, net $ 633,373 $ 607,051 (1) Includes consignment inventories held by customers of $22.7 million and $20.8 million at June 29, 2024 and December 31, 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Goodwill activity for each of the Company’s reportable segments that carry goodwill, Material Solutions (“MS”), Microcontamination Control (“MC”), and Advanced Materials Handling (“AMH”), was as follows at June 29, 2024 and December 31, 2023: (In thousands) MS MC AMH Total December 31, 2023 $ 3,631,350 $ 240,408 $ 74,102 $ 3,945,860 Foreign currency translation (43) (1,924) — (1,967) June 29, 2024 $ 3,631,307 $ 238,484 $ 74,102 $ 3,943,893 Identifiable intangible assets at June 29, 2024 and December 31, 2023 consisted of the following: June 29, 2024 (In thousands) Gross carrying Accumulated Net carrying Developed technology $ 1,256,795 $ 528,808 $ 727,987 Trademarks and trade names 171,979 43,320 128,659 Customer relationships 630,532 312,591 317,941 In-process research and development (1) 6,600 — 6,600 Other 25,545 21,777 3,768 $ 2,091,451 $ 906,496 $ 1,184,955 December 31, 2023 (In thousands) Gross carrying Accumulated Net carrying Developed technology $ 1,256,469 $ 455,720 $ 800,749 Trademarks and trade names 172,031 37,877 134,154 Customer relationships 630,743 293,782 336,961 In-process research and development (1) 7,100 — 7,100 Other 23,924 20,919 3,005 $ 2,090,267 $ 808,298 $ 1,281,969 (1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets. Future amortization expense relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at June 29, 2024: (In thousands) Remaining 2024 2025 2026 2027 2028 Thereafter Total Future amortization expense $ 93,178 185,572 182,505 178,789 176,379 368,532 $ 1,184,955

Debt

Debt	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Debt Disclosure	The Company’s debt as of June 29, 2024 and December 31, 2023 consisted of the following: (In thousands) June 29, 2024 December 31, 2023 Senior secured term loans B due 2029 at 4.71% (1) 900,000 1,373,774 Senior secured notes due 2029 at 4.75% 1,600,000 1,600,000 Senior unsecured notes due 2030 at 5.95% 895,000 895,000 Senior unsecured notes due 2029 at 3.625% 400,000 400,000 Senior unsecured notes due 2028 at 4.375% 400,000 400,000 Revolving facility due 2027 at 7.08% (2) — — Total debt (par value) 4,195,000 4,668,774 Unamortized discount and debt issuance costs 72,767 91,633 Total debt, net 4,122,233 4,577,141 Less short-term debt, including current portion of long-term debt — — Total long-term debt, net $ 4,122,233 $ 4,577,141 Annual maturities of long-term debt, excluding unamortized discount and debt issuance costs, due as of June 29, 2024 were as follows: (In thousands) Remaining 2024 2025 2026 2027 2028 Thereafter Total Contractual debt obligation maturities * $ — — — — 400,000 3,795,000 4,195,000 * Senior secured term loans B subject to Excess Cash Flow payments to the lenders. (1) The Company entered into a floating-to-fixed swap contract on its variable rate debt under our senior secured term loan facility due 2029. The effective interest rate after consideration of this floating-to-fixed swap contract was 4.71%. Refer to Note 9 for a description of our interest rate swap contract. (2) Our senior secured revolving credit facility due 2027 (the “Revolving Facility”) bears interest at a rate per annum equal to SOFR, plus an applicable margin of 1.75%. The Revolving Facility has commitments of $575.0 million. Senior secured term loans B due 2029 On March 28, 2024, the Company and certain of its subsidiaries entered into Amendment No. 3 (the “Third Amendment”), with the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent, which amended the Credit and Guaranty Agreement, dated as of November 6, 2018 (as amended and restated as of July 6, 2022 and as subsequently amended on each of March 10, 2023 and September 11, 2023, the “Existing Credit Agreement” and, the Existing Credit Agreement as amended by the Third Amendment, the “Amended Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company party thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent. The Third Amendment provides for, among other things, the reduction of the applicable rate of the Company’s outstanding senior secured term loans B under the Existing Credit Agreement. After giving effect to the Third Amendment, such outstanding term loans B bear interest, at a rate per annum equal to, at the Company’s option, either (i) Term SOFR plus an applicable margin of 1.75% or (ii) a base rate plus an applicable margin of 0.75%. Other than as described herein (and more fully described in the Third Amendment), the terms of the Amended Credit Agreement are substantially similar to the terms of the Existing Credit Agreement. In connection with the Third Amendment, the Company made a prepayment of $354.5 million on the term loans B. During the three and six months ended June 29, 2024, the Company repaid a total of $55.0 million and $473.8 million of the outstanding borrowings under the term loans B. In connection with these repayments and entry into the Third Amendment, the Company incurred a pre-tax loss on extinguishment and modification of debt of $0.8 million and $12.3 million for the three and six months ended June 29, 2024, respectively, which is included in Other expense, net in the condensed consolidated statements of operations.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures	6 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	The Company is required to record certain assets and liabilities at fair value. The valuation methods used for determining the fair value of these financial instruments by hierarchy are as follows: Level 1 Cash and cash equivalents consist of various bank accounts used to support our operations and investments in institutional money-market funds that are traded in active markets. Level 2 Derivative financial instruments include an interest rate swap contract. The fair value of our derivative instruments is estimated using standard valuation models and market-based observable inputs over the contractual term, including the prevailing SOFR-based yield curves for the interest rate swap, and forward rates. The fair value of our debt is estimated based on independent broker/dealer bids or by comparison to other debt securities having similar durations, yields and credit ratings. Level 3 No Level 3 financial instruments. The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 7 to our condensed consolidated financial statements for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value. Fair Value Measurements at Reporting Date Using (In thousands): Level 1 Level 2 Level 3 Total Assets: June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 Cash and cash equivalents $ 320,008 $ 456,929 $ — $ — $ — $ — $ 320,008 $ 456,929 Derivative financial instruments - Interest rate swap - cash flow hedge — — 19,273 24,069 — — 19,273 24,069 Total $ 320,008 $ 456,929 $ 19,273 $ 24,069 $ — $ — $ 339,281 $ 480,998 Other Fair Value Disclosures The estimated fair value and carrying value of our debt as of June 29, 2024 and December 31, 2023 were as follows: June 29, 2024 December 31, 2023 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Total debt, net $ 4,122,233 $ 4,045,931 $ 4,577,141 $ 4,536,238

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	The Company is exposed to various market risks, including risks associated with interest rates and foreign currency exchange rates. One objective of the Company’s risk management program is to mitigate these risks using derivative instruments. Cash Flow Hedges - Interest Rate Swap Contract In July 2022, the Company entered into a floating-to-fixed swap agreement on its variable rate debt under our senior secured term loan facility due 2029 (the “Term Loan Facility”). The interest rate swap was designated specifically to the Term Loan Facility and qualifies as a cash flow hedge. The notional amount is scheduled to decrease quarterly and will expire on December 30, 2025. As with cash flow hedges, unrealized gains are recognized as assets and unrealized losses are recognized as liabilities. Unrealized gains and losses are designated as effective or ineffective based on a comparison of the changes in fair value of the interest rate swaps and changes in fair value of the underlying exposures being hedged. The effective portion is recorded as a component of Accumulated other comprehensive loss in the condensed consolidated balance sheets and will be reflected in earnings during the period the hedged transaction effects earnings, while the ineffective portion is recorded as a component of Interest expense in the condensed consolidated statements of operations. Foreign Currency Contracts Not Designated as Hedges The Company enters into foreign exchange contracts in an effort to mitigate the risks associated with currency fluctuations on certain foreign currency balance sheet exposures. These foreign exchange contracts do not qualify for hedge accounting. The Company recognizes the change in fair value of its foreign currency forward contracts in the condensed consolidated statements of operations. The notional amounts of our derivative instruments were as follows: (In thousands) Derivatives designated as hedging instruments: June 29, 2024 December 31, 2023 Interest rate swap contract - cash flow hedge $ 900,000 $ 1,350,000 The fair values of our derivative instruments included in the condensed consolidated balance sheets were as follows: (In thousands) Condensed Consolidated Balance Sheets Location Derivative Assets Derivatives designated as hedging instruments - Interest rate swap contract - cash flow hedge June 29, 2024 December 31, 2023 Other current assets $ 16,578 $ 21,451 Other assets 2,695 2,618 The following table summarizes the effects of our derivative instruments on our condensed consolidated statements of operations: Gain Recognized in Condensed Consolidated Statements of Operations (In thousands) Three months ended Six months ended Derivatives designated as hedging instruments: Condensed Consolidated Statements of Operations Location June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Interest rate swap contract - cash flow hedge Interest expense $ (6,353) $ (9,638) $ (17,654) $ (17,551) Derivatives not designated as hedging instruments: Foreign exchange contracts Other expense, net $ — $ (245) $ — $ (374) The following table summarizes the effects of our derivative instruments on Accumulated other comprehensive los s : (Loss) Gain recognized in Other comprehensive loss (In thousands) Three months ended Six months ended Derivatives designated as hedging instruments: June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Interest rate swap contract - cash flow hedge $ (2,641) $ 9,716 $ (3,714) $ (239) We expect approximately $16.6 million to be reclassified from Accumulated other comprehensive loss into Interest expense, net during the next twelve months related to our interest rate swap based on projected rates of the SOFR forward curve as of June 29, 2024.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	The Company’s tax provision or benefit from income taxes for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates an estimate of the annual effective tax rate, and if the estimated tax rate changes, we make a cumulative adjustment. Income tax expense was $6.7 million and $10.1 million in the three and six months ended June 29, 2024, respectively, compared to income tax (benefit) expense of $(16.5) million and $5.0 million in the three and six months ended July 1, 2023, respectively. The Company’s year-to-date effective income tax rate was 9.0% and 8.2% for the three and six months ended June 29, 2024, respectively, compared to (9.1)% and 4.3% for the three and six months ended July 1, 2023, respectively. The changes in the effective tax rate for the three months ended June 29, 2024 compared to the prior year primarily relate to discrete divestiture activity recorded during the quarter ended July 1, 2023 and the integration of the CMC Materials acquisition. The year-to-date income tax expense in 2024 and 2023 included a discrete benefit of $3.1 million and discrete expense of $0.3 million, respectively, recorded in connection with share-based compensation.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	Basic earnings per common share (“EPS”) is calculated based on the weighted average number of shares of common stock outstanding during the applicable period. Diluted EPS is calculated based on the weighted average number of shares of common stock outstanding plus potentially dilutive shares of common stock outstanding during the applicable period. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted EPS: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Basic—weighted average common shares outstanding 150,801 149,825 150,675 149,626 Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock 1,018 1,012 1,094 983 Diluted—weighted average common shares and common shares equivalent outstanding 151,819 150,837 151,769 150,609 The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the three and six months ended June 29, 2024 and July 1, 2023: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares excluded from calculations of diluted EPS 506 580 280 791

Other expense (income), net

Other expense (income), net	6 Months Ended
	Jun. 29, 2024
Other Income and Expenses [Abstract]
Other Nonoperating Income and Expense	Other expense, net for the three and six months ended June 29, 2024 and July 1, 2023 consisted of the following: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Infineum termination fee, net $ — $ — $ — $ (10,876) Loss on foreign currency transactions 2,653 3,885 4,295 6,286 Loss on extinguishment of debt and modification 796 4,481 12,347 8,361 Other, net (472) (642) 620 (705) Other expense, net $ 2,977 $ 7,724 $ 17,262 $ 3,066 Infineum termination fee, net On October 11, 2022, the Company and Infineum USA L.P. (“Infineum”) entered into a definitive agreement for the sale of the Company’s PIM business. On February 10, 2023, the Company terminated the definitive agreement. In accordance with the terms of the definitive agreement, the Company received a $12.0 million termination fee from Infineum in the first quarter of 2023 and incurred a transaction fee of $1.1 million to the third-party financial adviser it had engaged to assist with the transaction.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Segment Reporting	The Company’s financial segment reporting reflects an organizational alignment intended to align with the key elements of the advanced semiconductor manufacturing ecosystem . While these segments have separate products and technical know-how, they share common business systems and processes, technology centers and technology roadmaps. W ith the complementary capabilities across these segments, the Company believes it is uniquely positioned to create new, co-optimized and increasingly integrated solutions for its customers, which should translate into improved device performance, lower cost of ownership and faster time to market. The Company reports its financial performance in the following segments: • Materials Solutions: MS provides materials-based solutions, such as chemical mechanical planarization slurries and pads, deposition materials, process chemistries and gases, formulated cleans, etchants and other specialty materials that enable our customers to achieve better device performance and faster time to yield, while providing for lower total cost of ownership. • Microcontamination Control: MC offers advanced solutions that improve customers’ yield, device reliability and cost by filtering and purifying critical liquid chemistries and gases used in semiconductor manufacturing processes and other high-technology industries. • Advanced Materials Handling: AMH develops solutions that improve customers’ yields by protecting critical materials during manufacturing, transportation, and storage, including products that monitor, protect, transport and deliver critical liquid chemistries, wafers, and other substrates for a broad set of applications in the semiconductor, life sciences and other high-technology industries. The Company accounts for inter-segment sales similar to third-party transactions and the sales price reflects current market prices. Inter-segment sales are eliminated in consolidation and are not included in consolidated sales on the financial statements. In the third quarter of 2023, in order to align its segment financial reporting with a change in its business structure, the Company realigned its segments. All prior period amounts related to the segment change have been recast for comparability. Summarized financial information for the Company’s reportable segments is shown in the following tables. Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales MS $ 342,333 $ 440,634 $ 692,369 $ 888,964 MC 293,769 283,614 561,633 552,911 AMH 188,225 190,356 351,079 409,209 Inter-segment elimination (11,675) (13,604) (21,404) (27,688) Total net sales $ 812,652 $ 901,000 $ 1,583,677 $ 1,823,396 Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Segment profit MS (1) $ 70,268 $ 215,738 $ 137,392 $ 186,216 MC 93,709 100,661 180,264 196,658 AMH 28,980 35,830 53,586 83,995 Total segment profit $ 192,957 $ 352,229 $ 371,242 $ 466,869 (1) MS segment profit is inclusive of a $154.8 million gain, net on termination of alliance agreement for the three and six months ended July 1, 2023, a $14.9 million and $28.6 million loss on sale of business and held-for-sale assets for the three and six months ended July 1, 2023, respectively, a $88.9 million goodwill impairment charge relating to the EC reporting unit for the six months ended July 1, 2023 and a $13.0 million long-lived asset impairment charge for the six months ended June 29, 2024. The following table reconciles total segment profit to income before income tax expense (benefit): Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Total segment profit $ 192,957 $ 352,229 $ 371,242 $ 466,869 Less: Amortization of intangible assets 47,513 54,680 97,672 112,254 Unallocated general and administrative expenses 15,338 29,935 25,872 73,535 Operating income 130,106 267,614 247,698 281,080 Interest expense 53,687 80,908 111,060 167,054 Interest income (1,160) (2,303) (4,154) (3,628) Other expense, net 2,977 7,724 17,262 3,066 Income before income tax expense (benefit) $ 74,602 $ 181,285 $ 123,530 $ 114,588 In the following tables, revenue is disaggregated by customers’ country or region based on the ship to location of the customer for the three and six months ended June 29, 2024 and July 1, 2023, respectively. Three months ended June 29, 2024 (In thousands) MS MC AMH Inter-segment Total North America $ 78,830 $ 52,907 $ 61,230 $ (11,675) $ 181,292 Taiwan 58,594 72,715 28,718 — 160,027 China 63,783 60,333 45,038 — 169,154 South Korea 50,461 31,127 21,056 — 102,644 Japan 28,624 36,195 8,031 — 72,850 Europe 27,864 24,160 17,072 — 69,096 Southeast Asia 34,177 16,332 7,080 — 57,589 $ 342,333 $ 293,769 $ 188,225 $ (11,675) $ 812,652 Three months ended July 1, 2023 (In thousands) MS MC AMH Inter-segment Total North America $ 140,881 $ 45,947 $ 56,275 $ (13,604) $ 229,499 Taiwan 57,126 53,987 28,780 — 139,893 China 50,703 54,701 35,213 — 140,617 South Korea 55,885 29,824 27,184 — 112,893 Japan 25,714 57,789 11,768 — 95,271 Europe 65,805 24,647 21,902 — 112,354 Southeast Asia 44,520 16,719 9,234 — 70,473 $ 440,634 $ 283,614 $ 190,356 $ (13,604) $ 901,000 Six months ended June 29, 2024 (In thousands) MS MC AMH Inter-segment Total North America $ 175,574 $ 88,366 $ 112,015 $ (21,404) $ 354,551 Taiwan 113,468 141,806 59,882 — 315,156 China 118,953 124,021 75,929 — 318,903 South Korea 97,316 62,262 42,687 — 202,265 Japan 59,053 67,521 15,736 — 142,310 Europe 62,172 47,967 32,245 — 142,384 Southeast Asia 65,833 29,690 12,585 — 108,108 $ 692,369 $ 561,633 $ 351,079 $ (21,404) $ 1,583,677 Six months ended July 1, 2023 (In thousands) MS MC AMH Inter-segment Total North America $ 288,210 $ 87,713 $ 131,873 $ (27,688) $ 480,108 Taiwan 115,320 108,222 65,442 — 288,984 China 98,663 110,372 67,013 — 276,048 South Korea 112,256 59,653 61,640 — 233,549 Japan 55,070 107,542 23,084 — 185,696 Europe 129,232 51,651 43,886 — 224,769 Southeast Asia 90,213 27,758 16,271 — 134,242 $ 888,964 $ 552,911 $ 409,209 $ (27,688) $ 1,823,396

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 29, 2024
Subsequent Events [Abstract]
Subsequent Events	Dividend

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income	$ 67,696	$ 45,266	$ 197,646	$ (88,166)	$ 112,962	$ 109,480

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024
Bertrand Loy [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Trading Plan Arrangements During the quarter ended June 29, 2024, no director or officer, as defined in Rule 16a-1 under the Exchange Act, adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Item 408 of Regulation S-K.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations Entegris, Inc. (“Entegris”, the “Company”, “us”, “we”, or “our”) is a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. Intercompany profits, transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, particularly receivables, inventories, property, plant and equipment, right-of-use assets, goodwill, intangibles, accrued expenses, short-term and long-term lease liability, income taxes and related accounts, and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and contain all adjustments considered necessary, and are of a normal recurring nature, to present fairly the Company’s financial position as of June 29, 2024 and December 31, 2023, the results of operations and comprehensive income for the three and six months ended June 29, 2024 and July 1, 2023, the equity statements as of and for the three and six months ended June 29, 2024 and July 1, 2023, and cash flows for the six months ended June 29, 2024 and July 1, 2023.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements The Company currently has no material recently adopted accounting pronouncements. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for our annual periods beginning in fiscal year 2024 and interim periods beginning in the first quarter of fiscal year 2025. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” that requires entities to disclose additional information about federal, state, and foreign income taxes primarily related to the income tax rate reconciliation and income taxes paid. The new standard also eliminates certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. The guidance is effective for our annual periods beginning in fiscal year 2025. The guidance does not affect recognition or measurement in our condensed consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 29, 2024
Revenues [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about current contract liabilities from contracts with customers. The contract liabilities are included in Other accrued liabilities in the condensed consolidated balance sheets. (In thousands) June 29, 2024 July 1, 2023 Balance at beginning of period $ 69,051 $ 60,476 Revenue recognized that was included in the contract liability balance at the beginning of the period (47,511) (43,905) Increases due to cash received, excluding amounts recognized as revenue during the period 31,640 79,621 Contract liabilities included as part of dispositions and held-for-sale — (6,226) Balance at end of period $ 53,180 $ 89,966

Assets Held For Sale (Tables)

Assets Held For Sale (Tables)	6 Months Ended
	Jun. 29, 2024
Disposal (Line Items)
Schedule of Consideration, Divestitures	The following table summarizes the fair value of the sale proceeds received in connection with the divestiture, which are subject to final post-closing adjustment: (In thousands) March 1, 2024 Cash proceeds received, gross $ 263,208 Preliminary working capital adjustment 1,189 Cash transferred to the buyer on the closing balance sheet (230) Direct costs to sell (8,005) Fair value of sale consideration $ 256,162
Disposal Groups, Including Discontinued Operations	The carrying amount of net assets associated with the PIM business was approximately $252.8 million. The major classes of assets and liabilities sold consisted of the following: (In thousands) Assets: March 1, 2024 Current assets $ 58,684 Property, plant and equipment, net 118,146 Intangible assets, net 76,692 Goodwill 12,707 Other assets 2,500 Total assets held-for-sale $ 268,729 Liabilities: Accounts payable $ 9,485 Accrued expenses 4,672 Long-term liabilities 1,737 Total liabilities held-for-sale $ 15,894

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (In thousands) June 29, 2024 December 31, 2023 Raw materials $ 253,642 $ 248,656 Work-in-process 55,124 49,704 Finished goods (1) 324,607 308,691 Total inventories, net $ 633,373 $ 607,051 (1) Includes consignment inventories held by customers of $22.7 million and $20.8 million at June 29, 2024 and December 31, 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill activity for each of the Company’s reportable segments that carry goodwill, Material Solutions (“MS”), Microcontamination Control (“MC”), and Advanced Materials Handling (“AMH”), was as follows at June 29, 2024 and December 31, 2023: (In thousands) MS MC AMH Total December 31, 2023 $ 3,631,350 $ 240,408 $ 74,102 $ 3,945,860 Foreign currency translation (43) (1,924) — (1,967) June 29, 2024 $ 3,631,307 $ 238,484 $ 74,102 $ 3,943,893
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	Identifiable intangible assets at June 29, 2024 and December 31, 2023 consisted of the following: June 29, 2024 (In thousands) Gross carrying Accumulated Net carrying Developed technology $ 1,256,795 $ 528,808 $ 727,987 Trademarks and trade names 171,979 43,320 128,659 Customer relationships 630,532 312,591 317,941 In-process research and development (1) 6,600 — 6,600 Other 25,545 21,777 3,768 $ 2,091,451 $ 906,496 $ 1,184,955 December 31, 2023 (In thousands) Gross carrying Accumulated Net carrying Developed technology $ 1,256,469 $ 455,720 $ 800,749 Trademarks and trade names 172,031 37,877 134,154 Customer relationships 630,743 293,782 336,961 In-process research and development (1) 7,100 — 7,100 Other 23,924 20,919 3,005 $ 2,090,267 $ 808,298 $ 1,281,969 (1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets.
Estimated Future Amortization Expense	Future amortization expense relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at June 29, 2024: (In thousands) Remaining 2024 2025 2026 2027 2028 Thereafter Total Future amortization expense $ 93,178 185,572 182,505 178,789 176,379 368,532 $ 1,184,955

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt as of June 29, 2024 and December 31, 2023 consisted of the following: (In thousands) June 29, 2024 December 31, 2023 Senior secured term loans B due 2029 at 4.71% (1) 900,000 1,373,774 Senior secured notes due 2029 at 4.75% 1,600,000 1,600,000 Senior unsecured notes due 2030 at 5.95% 895,000 895,000 Senior unsecured notes due 2029 at 3.625% 400,000 400,000 Senior unsecured notes due 2028 at 4.375% 400,000 400,000 Revolving facility due 2027 at 7.08% (2) — — Total debt (par value) 4,195,000 4,668,774 Unamortized discount and debt issuance costs 72,767 91,633 Total debt, net 4,122,233 4,577,141 Less short-term debt, including current portion of long-term debt — — Total long-term debt, net $ 4,122,233 $ 4,577,141
Schedule of Maturities of Long-term Debt	Annual maturities of long-term debt, excluding unamortized discount and debt issuance costs, due as of June 29, 2024 were as follows: (In thousands) Remaining 2024 2025 2026 2027 2028 Thereafter Total Contractual debt obligation maturities * $ — — — — 400,000 3,795,000 4,195,000

Fair Value Measures and Discl_2

Fair Value Measures and Disclosures (Tables)	6 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 7 to our condensed consolidated financial statements for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value. Fair Value Measurements at Reporting Date Using (In thousands): Level 1 Level 2 Level 3 Total Assets: June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 June 29, 2024 December 31, 2023 Cash and cash equivalents $ 320,008 $ 456,929 $ — $ — $ — $ — $ 320,008 $ 456,929 Derivative financial instruments - Interest rate swap - cash flow hedge — — 19,273 24,069 — — 19,273 24,069 Total $ 320,008 $ 456,929 $ 19,273 $ 24,069 $ — $ — $ 339,281 $ 480,998
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The estimated fair value and carrying value of our debt as of June 29, 2024 and December 31, 2023 were as follows: June 29, 2024 December 31, 2023 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Total debt, net $ 4,122,233 $ 4,045,931 $ 4,577,141 $ 4,536,238

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Open Forward Foreign Currency Contract	The Company enters into foreign exchange contracts in an effort to mitigate the risks associated with currency fluctuations on certain foreign currency balance sheet exposures. These foreign exchange contracts do not qualify for hedge accounting. The Company recognizes the change in fair value of its foreign currency forward contracts in the condensed consolidated statements of operations. The notional amounts of our derivative instruments were as follows: (In thousands) Derivatives designated as hedging instruments: June 29, 2024 December 31, 2023 Interest rate swap contract - cash flow hedge $ 900,000 $ 1,350,000
Fair Value, by Balance Sheet Grouping	The fair values of our derivative instruments included in the condensed consolidated balance sheets were as follows: (In thousands) Condensed Consolidated Balance Sheets Location Derivative Assets Derivatives designated as hedging instruments - Interest rate swap contract - cash flow hedge June 29, 2024 December 31, 2023 Other current assets $ 16,578 $ 21,451 Other assets 2,695 2,618
Schedule of Other Operating Cost and Expense, by Component	The following table summarizes the effects of our derivative instruments on our condensed consolidated statements of operations: Gain Recognized in Condensed Consolidated Statements of Operations (In thousands) Three months ended Six months ended Derivatives designated as hedging instruments: Condensed Consolidated Statements of Operations Location June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Interest rate swap contract - cash flow hedge Interest expense $ (6,353) $ (9,638) $ (17,654) $ (17,551) Derivatives not designated as hedging instruments: Foreign exchange contracts Other expense, net $ — $ (245) $ — $ (374)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the effects of our derivative instruments on Accumulated other comprehensive los s : (Loss) Gain recognized in Other comprehensive loss (In thousands) Three months ended Six months ended Derivatives designated as hedging instruments: June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Interest rate swap contract - cash flow hedge $ (2,641) $ 9,716 $ (3,714) $ (239)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Reconcilation of Share Amount Used in Computaion of Basic and Diluted Earnings Per Share (EPS)	The following table presents a reconciliation of the share amounts used in the computation of basic and diluted EPS: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Basic—weighted average common shares outstanding 150,801 149,825 150,675 149,626 Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock 1,018 1,012 1,094 983 Diluted—weighted average common shares and common shares equivalent outstanding 151,819 150,837 151,769 150,609
Shares Excluded Underlying Stock Based Awards from Calculations of Diluted EPS	The Company excluded the following shares underlying stock-based awards from the calculations of diluted EPS because their inclusion would have been anti-dilutive for the three and six months ended June 29, 2024 and July 1, 2023: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares excluded from calculations of diluted EPS 506 580 280 791

Other Expense (Income), net (Ta

Other Expense (Income), net (Tables)	6 Months Ended
	Jun. 29, 2024
Other Income and Expenses [Abstract]
Other expense (income), net	Other expense, net for the three and six months ended June 29, 2024 and July 1, 2023 consisted of the following: Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Infineum termination fee, net $ — $ — $ — $ (10,876) Loss on foreign currency transactions 2,653 3,885 4,295 6,286 Loss on extinguishment of debt and modification 796 4,481 12,347 8,361 Other, net (472) (642) 620 (705) Other expense, net $ 2,977 $ 7,724 $ 17,262 $ 3,066

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Summary of Financial Information for Reportable Segments	Summarized financial information for the Company’s reportable segments is shown in the following tables. Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales MS $ 342,333 $ 440,634 $ 692,369 $ 888,964 MC 293,769 283,614 561,633 552,911 AMH 188,225 190,356 351,079 409,209 Inter-segment elimination (11,675) (13,604) (21,404) (27,688) Total net sales $ 812,652 $ 901,000 $ 1,583,677 $ 1,823,396 Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Segment profit MS (1) $ 70,268 $ 215,738 $ 137,392 $ 186,216 MC 93,709 100,661 180,264 196,658 AMH 28,980 35,830 53,586 83,995 Total segment profit $ 192,957 $ 352,229 $ 371,242 $ 466,869 (1) MS segment profit is inclusive of a $154.8 million gain, net on termination of alliance agreement for the three and six months ended July 1, 2023, a $14.9 million and $28.6 million loss on sale of business and held-for-sale assets for the three and six months ended July 1, 2023, respectively, a $88.9 million goodwill impairment charge relating to the EC reporting unit for the six months ended July 1, 2023 and a $13.0 million long-lived asset impairment charge for the six months ended June 29, 2024.
Reconciliation of Total Segment Profit to Operating Income	The following table reconciles total segment profit to income before income tax expense (benefit): Three months ended Six months ended (In thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Total segment profit $ 192,957 $ 352,229 $ 371,242 $ 466,869 Less: Amortization of intangible assets 47,513 54,680 97,672 112,254 Unallocated general and administrative expenses 15,338 29,935 25,872 73,535 Operating income 130,106 267,614 247,698 281,080 Interest expense 53,687 80,908 111,060 167,054 Interest income (1,160) (2,303) (4,154) (3,628) Other expense, net 2,977 7,724 17,262 3,066 Income before income tax expense (benefit) $ 74,602 $ 181,285 $ 123,530 $ 114,588
Schedule of Revenue from External Customers, by Geographical Areas	In the following tables, revenue is disaggregated by customers’ country or region based on the ship to location of the customer for the three and six months ended June 29, 2024 and July 1, 2023, respectively. Three months ended June 29, 2024 (In thousands) MS MC AMH Inter-segment Total North America $ 78,830 $ 52,907 $ 61,230 $ (11,675) $ 181,292 Taiwan 58,594 72,715 28,718 — 160,027 China 63,783 60,333 45,038 — 169,154 South Korea 50,461 31,127 21,056 — 102,644 Japan 28,624 36,195 8,031 — 72,850 Europe 27,864 24,160 17,072 — 69,096 Southeast Asia 34,177 16,332 7,080 — 57,589 $ 342,333 $ 293,769 $ 188,225 $ (11,675) $ 812,652 Three months ended July 1, 2023 (In thousands) MS MC AMH Inter-segment Total North America $ 140,881 $ 45,947 $ 56,275 $ (13,604) $ 229,499 Taiwan 57,126 53,987 28,780 — 139,893 China 50,703 54,701 35,213 — 140,617 South Korea 55,885 29,824 27,184 — 112,893 Japan 25,714 57,789 11,768 — 95,271 Europe 65,805 24,647 21,902 — 112,354 Southeast Asia 44,520 16,719 9,234 — 70,473 $ 440,634 $ 283,614 $ 190,356 $ (13,604) $ 901,000 Six months ended June 29, 2024 (In thousands) MS MC AMH Inter-segment Total North America $ 175,574 $ 88,366 $ 112,015 $ (21,404) $ 354,551 Taiwan 113,468 141,806 59,882 — 315,156 China 118,953 124,021 75,929 — 318,903 South Korea 97,316 62,262 42,687 — 202,265 Japan 59,053 67,521 15,736 — 142,310 Europe 62,172 47,967 32,245 — 142,384 Southeast Asia 65,833 29,690 12,585 — 108,108 $ 692,369 $ 561,633 $ 351,079 $ (21,404) $ 1,583,677 Six months ended July 1, 2023 (In thousands) MS MC AMH Inter-segment Total North America $ 288,210 $ 87,713 $ 131,873 $ (27,688) $ 480,108 Taiwan 115,320 108,222 65,442 — 288,984 China 98,663 110,372 67,013 — 276,048 South Korea 112,256 59,653 61,640 — 233,549 Japan 55,070 107,542 23,084 — 185,696 Europe 129,232 51,651 43,886 — 224,769 Southeast Asia 90,213 27,758 16,271 — 134,242 $ 888,964 $ 552,911 $ 409,209 $ (27,688) $ 1,823,396

Revenues Revenues - Significant

Revenues Revenues - Significant changes in contract liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Revenues [Abstract]
Balance at beginning of period	$ 69,051	$ 60,476
Revenue recognized that was included in the contract liability balance at the beginning of the period	(47,511)	(43,905)
Increases due to cash received, excluding amounts recognized as revenue during the period	31,640	79,621
Contract liabilities included as part of dispositions and held-for-sale	0	(6,226)
Balance at end of period	$ 53,180	$ 89,966

Intangible Assets, Goodwill a_2

Intangible Assets, Goodwill and Other (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of long-lived assets	$ 13,000
Proceeds from Divestiture of Businesses			$ 700,000
Impairment of Goodwill		$ 88,900

Assets Held For Sale and Divest

Assets Held For Sale and Divestitures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets held-for-sale	$ 6,195	$ 278,753
Liabilities held-for-sale	662	$ 19,223
Asset Impairment Charges	$ 13,000

PIM Disposal (Details)

PIM Disposal (Details) - PIM [Member] - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Mar. 01, 2024	Jun. 29, 2024	Jun. 29, 2024
Disposal (Line Items)
Current assets	$ 58,684
Property, plant and equipment, net	118,146
Intangible assets, net	76,692
Goodwill	12,707
Other assets	2,500
Total assets held-for-sale	268,729
Accounts payable	9,485
Accrued expenses	4,672
Long-term liabilities	1,737
Total liabilities held-for-sale	15,894
Carrying value of net assets	252,800
Cash proceeds received, gross	263,208
Preliminary working capital adjustment	1,189
Cash transferred to the buyer on the closing balance sheet	(230)
Direct costs to sell	(8,005)
Fair value of sale consideration	256,162
Disposal Group, Including Discontinued Operation, Consideration	$ 25,000
Pre-tax gain (loss) on sale		$ 500	$ (4,300)
Gain reclassified from accumulated other comprehensive income		1,000
Tax effect on divestiture		$ (100)	$ 1,000

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 253,642	$ 248,656
Work-in-process	55,124	49,704
Finished goods (1)	324,607	308,691
Total inventories, net	633,373	607,051
Consignment inventory held by	$ 22,700	$ 20,800

Goodwill Rollforward (Details)

Goodwill Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Line Items]
Goodwill - Beginning	$ 3,945,860
Foreign currency translation	(1,967)
Goodwill - End	3,943,893
Materials Solutions MS
Goodwill [Line Items]
Goodwill - Beginning	3,631,350
Foreign currency translation	(43)
Goodwill - End	3,631,307
Microcontamination Control MC
Goodwill [Line Items]
Goodwill - Beginning	240,408
Foreign currency translation	(1,924)
Goodwill - End	238,484
Advanced Materials Handling AMH
Goodwill [Line Items]
Goodwill - Beginning	74,102
Foreign currency translation	0
Goodwill - End	$ 74,102

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Gross carrying Amount	$ 2,091,451	$ 2,090,267
Accumulated amortization	906,496	808,298
Net carrying value	1,184,955	1,281,969
Developed Technology
Finite-Lived Intangible Assets
Gross carrying Amount	1,256,795	1,256,469
Accumulated amortization	528,808	455,720
Net carrying value	727,987	800,749
Trademarks and Trade names
Finite-Lived Intangible Assets
Gross carrying Amount	171,979	172,031
Accumulated amortization	43,320	37,877
Net carrying value	128,659	134,154
Customer Relationships
Finite-Lived Intangible Assets
Gross carrying Amount	630,532	630,743
Accumulated amortization	312,591	293,782
Net carrying value	317,941	336,961
In Process Research and Development
Finite-Lived Intangible Assets
Gross carrying Amount	6,600	7,100
Accumulated amortization	0	0
Net carrying value	6,600	7,100
Other Intangible Assets
Finite-Lived Intangible Assets
Gross carrying Amount	25,545	23,924
Accumulated amortization	21,777	20,919
Net carrying value	$ 3,768	$ 3,005

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 93,178
Finite-Lived Intangible Asset, Expected Amortization, Year Two	185,572
Finite-Lived Intangible Asset, Expected Amortization, Year Three	182,505
Finite-Lived Intangible Asset, Expected Amortization, Year Four	178,789
Finite-Lived Intangible Asset, Expected Amortization, Year Five	176,379
Thereafter	368,532
Total	$ 1,184,955	$ 1,281,969

Debt Summary Table (Details)

Debt Summary Table (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 4,195,000	$ 4,668,774
Unamortized discount and debt issuance costs	72,767	91,633
Total debt, net	4,122,233	4,577,141
Less short-term debt, including current portion of long-term debt	0	0
Long-term debt, net of unamortized discount and debt issuance costs of $72,767 and $91,633	4,122,233	4,577,141
Line of Credit Facility, Maximum Borrowing Capacity	575,000
Senior secured term loans B due 2029 at 4.71% (1)
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 900,000	1,373,774
Term Loan Rate	4.71%
Senior secured notes due 2029 at $4.75%
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,600,000	1,600,000
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Senior unsecured notes due 2030 at $5.95%
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 895,000	895,000
Debt Instrument, Interest Rate, Stated Percentage	5.95%
Senior unsecured notes due 2029 at $3.625%
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000	400,000
Debt Instrument, Interest Rate, Stated Percentage	3.625%
Senior unsecured notes due 2028 at $4.375%
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 400,000	400,000
Debt Instrument, Interest Rate, Stated Percentage	4.375%
Revolving facility due 2027 at 7.08% (2)
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.08%
Long-Term Line of Credit	$ 0	$ 0

Debt Information (Details)

Debt Information (Details) - Debt - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Mar. 28, 2024	Jun. 29, 2024	Jun. 29, 2024
Debt Instrument [Line Items]
Loss on extinguishment of debt and modification, pre tax		$ 0.8	$ 12.3
Repayments of Long-Term Debt	$ 354.5	$ 55	$ 473.8
Debt Instrument, Basis Spread on Variable Rate		0.75%	1.75%

Debt Maturity (Details)

Debt Maturity (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-Term Debt, Maturity, Remainder of Fiscal Year	$ 0
Long-Term Debt, Maturity, Year One	0
Long-Term Debt, Maturity, Year Two	0
Long-Term Debt, Maturity, Year Three	0
Long-Term Debt, Maturity, Year Four	400,000
Thereafter	3,795,000
Long-term Debt, Gross	$ 4,195,000	$ 4,668,774

Fair Value Measures and Discl_3

Fair Value Measures and Disclosures-Fair Value Levels (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt, net	$ 4,122,233	$ 4,577,141
Long-term Debt, Fair Value	4,045,931	4,536,238
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	320,008	456,929
Total	320,008	456,929
Fair Value, Inputs, Level 1 | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets, at Fair Value, Net	0	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Total	19,273	24,069
Fair Value, Inputs, Level 2 | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets, at Fair Value, Net	19,273	24,069
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Total	0	0
Fair Value, Inputs, Level 3 | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets, at Fair Value, Net	0	0
Fair Value, Inputs, Level 1, Level 2, and Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	320,008	456,929
Total	339,281	480,998
Fair Value, Inputs, Level 1, Level 2, and Level 3 | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets, at Fair Value, Net	$ 19,273	$ 24,069

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 31, 2023
Foreign Exchange Contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ (245)	$ 0	$ (374)
Interest Rate Swap | Designated as Hedging Instrument | Other Current Assets
Derivative [Line Items]
Derivative Assets, at Fair Value, Net	16,578		16,578		$ 21,451
Interest Rate Swap | Designated as Hedging Instrument | Other Noncurrent Assets
Derivative [Line Items]
Derivative Assets, at Fair Value, Net	2,695		2,695		$ 2,618
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(6,353)	(9,638)	(17,654)	(17,551)
Interest rate swap contract - cash flow hedge	$ (2,641)	$ 9,716	$ (3,714)	$ (239)

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative, Notional Amount	$ 900,000	$ 1,350,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Year-to-date effective tax rate	9%	8.20%	(9.10%)	4.30%
Income tax expense (benefit)	$ 6,689	$ (16,491)	$ 10,145	$ 4,978
Discrete tax (benefit) expense	$ (3,100)	$ 300
Pillar two global minimum tax rate	15%

Earnings Per Common Share - Rec

Earnings Per Common Share - Reconciliation of Share Amount Used in Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Weighted average shares outstanding:
Basic—weighted average common shares outstanding	150,801	149,825	150,675	149,626
Weighted average common shares assumed upon exercise of stock options and vesting of restricted common stock	1,018	1,012	1,094	983
Diluted—weighted average common shares and common shares equivalent outstanding	151,819	150,837	151,769	150,609

Earnings per Common Share - Sha

Earnings per Common Share - Shares Excluded Underlying Stock Based Award from Calucations of Diluted EPS (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Shares excluded from calculations of diluted EPS	506	580	280	791

Other Expense (Income), Net (De

Other Expense (Income), Net (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 10, 2023	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Other Income and Expenses [Abstract]
Infineum termination fee, net		$ 0	$ 0	$ 0	$ 10,876
Loss on foreign currency transactions		2,653	3,885	4,295	6,286
Loss on extinguishment of debt and modification		796	4,481	12,347	8,361
Other Nonrecurring (Income) Expense		(472)	(642)	620	(705)
Other Nonoperating Income (Expense)		$ 2,977	$ 7,724	$ 17,262	$ 3,066
Business Exit Costs	$ 12,000
Transaction advisor fee	$ 1,100

Segment Reporting - Summary of

Segment Reporting - Summary of Financial Information for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 812,652	$ 901,000	$ 1,583,677	$ 1,823,396
Total Segment Profit	192,957	352,229	371,242	466,869
Goodwill, Impairment Loss	0	0	0	88,872
Asset Impairment Charges			13,000
Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	342,333	440,634	692,369	888,964
Total Segment Profit	70,268	215,738	137,392	186,216
Gain on termination of alliance agreement				154,800
Loss on disposal of business		14,900		28,600
Goodwill, Impairment Loss				88,900
Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	293,769	283,614	561,633	552,911
Total Segment Profit	93,709	100,661	180,264	196,658
Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	188,225	190,356	351,079	409,209
Total Segment Profit	28,980	35,830	53,586	83,995
intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	$ (11,675)	$ (13,604)	$ (21,404)	$ (27,688)

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Total Segment Profit to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting [Abstract]
Total Segment Profit	$ 192,957	$ 352,229	$ 371,242	$ 466,869
Amortization	47,513	54,680	97,672	112,254
Unallocated general and administrative expenses	15,338	29,935	25,872	73,535
Operating income	130,106	267,614	247,698	281,080
Interest expense	53,687	80,908	111,060	167,054
Interest income	(1,160)	(2,303)	(4,154)	(3,628)
Other expense, net	2,977	7,724	17,262	3,066
Income before income tax expense (benefit)	$ 74,602	$ 181,285	$ 123,530	$ 114,588

Segment Reporting - Summary o_2

Segment Reporting - Summary of Financial Information by Reportable Segment and Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 812,652	$ 901,000	$ 1,583,677	$ 1,823,396
Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	342,333	440,634	692,369	888,964
Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	293,769	283,614	561,633	552,911
Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	188,225	190,356	351,079	409,209
intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	(11,675)	(13,604)	(21,404)	(27,688)
North America
Segment Reporting Information [Line Items]
Net Sales	181,292	229,499	354,551	480,108
North America | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	78,830	140,881	175,574	288,210
North America | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	52,907	45,947	88,366	87,713
North America | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	61,230	56,275	112,015	131,873
North America | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	(11,675)	(13,604)	(21,404)	(27,688)
Taiwan
Segment Reporting Information [Line Items]
Net Sales	160,027	139,893	315,156	288,984
Taiwan | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	58,594	57,126	113,468	115,320
Taiwan | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	72,715	53,987	141,806	108,222
Taiwan | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	28,718	28,780	59,882	65,442
Taiwan | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
China
Segment Reporting Information [Line Items]
Net Sales	169,154	140,617	318,903	276,048
China | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	63,783	50,703	118,953	98,663
China | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	60,333	54,701	124,021	110,372
China | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	45,038	35,213	75,929	67,013
China | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
South Korea
Segment Reporting Information [Line Items]
Net Sales	102,644	112,893	202,265	233,549
South Korea | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	50,461	55,885	97,316	112,256
South Korea | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	31,127	29,824	62,262	59,653
South Korea | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	21,056	27,184	42,687	61,640
South Korea | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
Japan
Segment Reporting Information [Line Items]
Net Sales	72,850	95,271	142,310	185,696
Japan | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	28,624	25,714	59,053	55,070
Japan | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	36,195	57,789	67,521	107,542
Japan | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	8,031	11,768	15,736	23,084
Japan | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
Europe
Segment Reporting Information [Line Items]
Net Sales	69,096	112,354	142,384	224,769
Europe | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	27,864	65,805	62,172	129,232
Europe | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	24,160	24,647	47,967	51,651
Europe | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	17,072	21,902	32,245	43,886
Europe | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
Southeast Asia
Segment Reporting Information [Line Items]
Net Sales	57,589	70,473	108,108	134,242
Southeast Asia | Materials Solutions MS
Segment Reporting Information [Line Items]
Net Sales	34,177	44,520	65,833	90,213
Southeast Asia | Microcontamination Control MC
Segment Reporting Information [Line Items]
Net Sales	16,332	16,719	29,690	27,758
Southeast Asia | Advanced Materials Handling AMH
Segment Reporting Information [Line Items]
Net Sales	7,080	9,234	12,585	16,271
Southeast Asia | intersegment elimination
Segment Reporting Information [Line Items]
Net Sales	$ 0	$ 0	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details)	Jul. 17, 2024 $ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Quarterly cash dividend	$ 0.10