Hayward (HAYW) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 28, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
Document Transition Report	false
Entity File Number	001-40208
Entity Registrant Name	Hayward Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2060643
Entity Address, Address Line One	1415 Vantage Park Drive
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	704
Local Phone Number	837-8002
Title of 12(b) Security	Common stock, $.001 per share
Trading Symbol	HAYW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		215,424,560
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001834622

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 274,184	$ 178,097
Short-term investments	0	25,000
Accounts receivable, net of allowances of $2,881 and $2,870, respectively	99,932	270,875
Inventories, net	229,363	215,180
Prepaid expenses	15,541	14,331
Income tax receivable	11,634	9,994
Other current assets	18,898	11,264
Total current assets	649,552	724,741
Property, plant, and equipment, net of accumulated depreciation of $108,726 and $95,917, respectively	164,654	158,979
Goodwill	953,175	935,013
Trademark	736,000	736,000
Customer relationships, net	209,836	206,308
Other intangibles, net	92,479	94,082
Other non-current assets	84,168	91,161
Total assets	2,889,864	2,946,284
Current liabilities
Current portion of long-term debt	14,079	15,088
Accounts payable	73,562	68,943
Accrued expenses and other liabilities	159,709	155,543
Income taxes payable	825	109
Total current liabilities	248,175	239,683
Long-term debt, net	959,906	1,079,280
Deferred tax liabilities, net	239,362	248,967
Other non-current liabilities	69,266	66,896
Total liabilities	1,516,709	1,634,826
Commitments and contingencies (Note 12)
Stockholders’ equity
Preferred stock, $0.001 par value, 100,000,000 authorized, no shares issued or outstanding as of September 28, 2024 and December 31, 2023	0	0
Common stock $0.001 par value, 750,000,000 authorized; 244,078,929 issued and 215,412,560 outstanding at September 28, 2024; 242,832,045 issued and 214,165,676 outstanding at December 31, 2023	244	243
Additional paid-in capital	1,089,782	1,080,894
Common stock in treasury; 28,666,369 and 28,666,369 at September 28, 2024 and December 31, 2023, respectively	(358,125)	(357,755)
Retained earnings	644,831	580,909
Accumulated other comprehensive income	(3,577)	7,167
Total stockholders’ equity	1,373,155	1,311,458
Total liabilities, redeemable stock, and stockholders’ equity	$ 2,889,864	$ 2,946,284

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2,881	$ 2,870
Property, plant, and equipment, accumulated depreciation	$ 108,726	$ 95,917
Preferred stock par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock authorized (in shares)	100,000,000	100,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	750,000,000	750,000,000
Common stock issued (in shares)	244,078,929	242,832,045
Common stock outstanding (in shares)	215,412,560	214,165,676
Common treasury stock (in shares)	28,666,369	28,666,369

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 227,569	$ 220,304	$ 724,531	$ 713,983
Cost of sales	114,474	114,893	361,770	374,171
Gross profit	113,095	105,411	362,761	339,812
Selling, general and administrative expense	64,509	59,454	187,678	172,057
Research, development and engineering expense	6,449	6,177	18,870	19,027
Acquisition and restructuring related expense	1,145	3,348	2,488	6,220
Amortization of intangible assets	7,576	7,523	21,425	22,777
Operating income	33,416	28,909	132,300	119,731
Interest expense, net	13,209	17,448	48,600	55,939
Loss on debt extinguishment	0	0	4,926	0
Other (income) expense, net	(705)	1,932	(1,989)	1,798
Total other expense	12,504	19,380	51,537	57,737
Income from operations before income taxes	20,912	9,529	80,763	61,994
Provision (benefit) for income taxes	4,411	(2,259)	16,841	12,343
Net income	$ 16,501	$ 11,788	$ 63,922	$ 49,651
Earnings per share
Basic (in usd per share)	$ 0.08	$ 0.06	$ 0.30	$ 0.23
Diluted (in usd per share)	$ 0.07	$ 0.05	$ 0.29	$ 0.23
Weighted average common shares outstanding
Basic (in shares)	215,231,886	213,416,502	214,836,643	212,933,763
Diluted (in shares)	221,436,206	220,863,228	221,251,355	220,634,232

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 16,501	$ 11,788	$ 63,922	$ 49,651
Other comprehensive income (loss):
Foreign currency translation adjustments, gross	6,605	(5,235)	(1,436)	(1,625)
Foreign currency translation adjustments, taxes	0	0	0	0
Foreign currency translation adjustments, net	6,605	(5,235)	(1,436)	(1,625)
Net change on cash flow hedges, gross	(13,914)	961	(12,411)	1,562
Net change on cash flow hedges, taxes	3,478	(240)	3,103	(390)
Net change on cash flow hedges, net	(10,436)	721	(9,308)	1,172
Comprehensive income	$ 12,670	$ 7,274	$ 53,178	$ 49,198

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Changes in Redeemable Stock and Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022		211,862,781
Beginning balance at Dec. 31, 2022	$ 1,223,034	$ 241	$ 1,069,878	$ (357,415)	$ 500,222	$ 10,108
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,410				8,410
Stock-based compensation	2,047		2,047
Issuance of Common Stock for compensation plans (in shares)		912,288
Issuance of Common Stock for compensation plans	570	$ 1	569
Repurchase of stock	(9)			(9)
Other comprehensive (loss) income	(3,933)					(3,933)
Ending balance (in shares) at Apr. 01, 2023		212,775,069
Ending balance at Apr. 01, 2023	1,230,119	$ 242	1,072,494	(357,424)	508,632	6,175
Beginning balance (in shares) at Dec. 31, 2022		211,862,781
Beginning balance at Dec. 31, 2022	1,223,034	$ 241	1,069,878	(357,415)	500,222	10,108
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	49,651
Ending balance (in shares) at Sep. 30, 2023		213,689,808
Ending balance at Sep. 30, 2023	1,280,334	$ 243	1,078,200	(357,637)	549,873	9,655
Beginning balance (in shares) at Apr. 01, 2023		212,775,069
Beginning balance at Apr. 01, 2023	1,230,119	$ 242	1,072,494	(357,424)	508,632	6,175
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,453				29,453
Stock-based compensation	2,099		2,099
Issuance of Common Stock for compensation plans (in shares)		231,354
Issuance of Common Stock for compensation plans	156		156
Other comprehensive (loss) income	7,994					7,994
Ending balance (in shares) at Jul. 01, 2023		213,006,423
Ending balance at Jul. 01, 2023	1,269,821	$ 242	1,074,749	(357,424)	538,085	14,169
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,788				11,788
Stock-based compensation	2,555		2,555
Issuance of Common Stock for compensation plans (in shares)		683,385
Issuance of Common Stock for compensation plans	897	$ 1	896
Repurchase of stock	(213)			(213)
Other comprehensive (loss) income	(4,514)					(4,514)
Ending balance (in shares) at Sep. 30, 2023		213,689,808
Ending balance at Sep. 30, 2023	$ 1,280,334	$ 243	1,078,200	(357,637)	549,873	9,655
Beginning balance (in shares) at Dec. 31, 2023	214,165,676	214,165,676
Beginning balance at Dec. 31, 2023	$ 1,311,458	$ 243	1,080,894	(357,755)	580,909	7,167
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9,840				9,840
Stock-based compensation	1,983		1,983
Issuance of Common Stock for compensation plans (in shares)		550,713
Issuance of Common Stock for compensation plans	800	$ 1	799
Repurchase of stock	(355)			(355)
Other comprehensive (loss) income	(3,234)					(3,234)
Ending balance (in shares) at Mar. 30, 2024		214,716,389
Ending balance at Mar. 30, 2024	$ 1,320,492	$ 244	1,083,676	(358,110)	590,749	3,933
Beginning balance (in shares) at Dec. 31, 2023	214,165,676	214,165,676
Beginning balance at Dec. 31, 2023	$ 1,311,458	$ 243	1,080,894	(357,755)	580,909	7,167
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 63,922
Ending balance (in shares) at Sep. 28, 2024	215,412,560	215,412,560
Ending balance at Sep. 28, 2024	$ 1,373,155	$ 244	1,089,782	(358,125)	644,831	(3,577)
Beginning balance (in shares) at Mar. 30, 2024		214,716,389
Beginning balance at Mar. 30, 2024	1,320,492	$ 244	1,083,676	(358,110)	590,749	3,933
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,581				37,581
Stock-based compensation	2,649		2,649
Issuance of Common Stock for compensation plans (in shares)		355,409
Issuance of Common Stock for compensation plans	355		355
Other comprehensive (loss) income	(3,679)					(3,679)
Ending balance (in shares) at Jun. 29, 2024		215,071,798
Ending balance at Jun. 29, 2024	1,357,398	$ 244	1,086,680	(358,110)	628,330	254
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16,501				16,501
Stock-based compensation	2,667		2,667
Issuance of Common Stock for compensation plans (in shares)		340,762
Issuance of Common Stock for compensation plans	435		435
Repurchase of stock	(15)			(15)
Other comprehensive (loss) income	$ (3,831)					(3,831)
Ending balance (in shares) at Sep. 28, 2024	215,412,560	215,412,560
Ending balance at Sep. 28, 2024	$ 1,373,155	$ 244	$ 1,089,782	$ (358,125)	$ 644,831	$ (3,577)

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 63,922	$ 49,651
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	13,929	13,018
Amortization of intangible assets	26,299	27,803
Amortization of deferred debt issuance fees	3,248	3,458
Stock-based compensation	7,299	6,701
Deferred income taxes	(8,344)	(5,965)
Allowance for bad debts	(62)	(906)
Loss on debt extinguishment	4,926	0
(Gain) loss on sale of property, plant and equipment	(451)	945
Changes in operating assets and liabilities
Accounts receivable	173,400	85,216
Inventories	(4,204)	61,715
Other current and non-current assets	(6,203)	9,500
Accounts payable	2,871	(6,265)
Accrued expenses and other liabilities	(868)	(27,934)
Net cash provided by operating activities	275,762	216,937
Cash flows from investing activities
Purchases of property, plant, and equipment	(17,552)	(22,623)
Acquisitions, net of cash acquired	(61,636)	0
Proceeds from sale of property, plant, and equipment	311	13
Proceeds from short-term investments	25,000	0
Net cash used in investing activities	(53,877)	(22,610)
Cash flows from financing activities
Proceeds from revolving credit facility	0	144,100
Payments on revolving credit facility	0	(144,100)
Proceeds from issuance of long-term debt	2,886	3,320
Payments of long-term debt	(129,971)	(9,325)
Proceeds from issuance of short-term notes payable	6,340	6,130
Payments of short-term notes payable	(4,676)	(5,174)
Other, net	(427)	(149)
Net cash used in financing activities	(125,848)	(5,198)
Effect of exchange rate changes on cash and cash equivalents	50	(1,061)
Change in cash and cash equivalents	96,087	188,068
Cash and cash equivalents, beginning of period	178,097	56,177
Cash and cash equivalents, end of period	274,184	244,245
Supplemental disclosures of cash flow information
Cash paid-interest	47,965	56,438
Cash paid-income taxes	26,853	14,913
Equipment financed under finance leases	$ 843	$ 0

Nature of Operations and Organi

Nature of Operations and Organization	9 Months Ended
	Sep. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Organization	1. Nature of Operations and Organization Hayward Holdings, Inc. (“Holdings,” the “Company,” “we” or “us”) is a global designer and manufacturer of pool and outdoor living technology. The Company has seven manufacturing facilities worldwide, which are located in North Carolina, Georgia, Tennessee, Rhode Island, Spain (two) and China, and other facilities in the United States, Canada, France and Australia. Cash flow is impacted by the seasonality of the swimming pool business. Cash flow is usually higher in the second and third quarters d ue to terms of sale to our customers. We establish actual interim closing dates using a fiscal calendar in which our fiscal quarters end on the Saturday closest to the calendar quarter end, with the exception of year-end which ends on December 31 of each fiscal year. The interim closing date for the first, second and third quarters of 2024 are March 30, June 29, and September 28, compared to the respective April 1, July 1, and September 30, 2023 dates. We had equal working days in the three and nine months ended September 28, 2024 and September 30, 2023.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to such rules and regulations. These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2023. The results of operations for the three and nine months ended September 28, 2024 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2024. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified for comparative purposes to conform to the current presentation. Recently Issued Accounting Standards Segment Reporting In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company will adopt the standard in the Company's annual report on Form 10-K for the year ended December 31, 2024. In addition to other required disclosures, the Company will disclose cost of goods sold, selling, general and administrative expense (“SG&A”) and research, development and engineering expense (“RD&E”) by segment. Income Taxes In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which is intended to improve income tax disclosure requirements by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure requirements. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. The Company is evaluating the impact of the standard on its income tax disclosures and does not intend to early adopt.

Revenue

Revenue	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Product groups Residential pool $ 200,794 $ 198,073 $ 652,697 $ 646,608 Commercial pool 14,172 9,518 34,259 30,595 Flow control 12,603 12,713 37,575 36,780 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983 Geographic United States $ 182,435 $ 174,317 $ 562,510 $ 543,471 Canada 12,533 10,754 47,000 41,655 Europe 16,807 17,495 71,290 72,705 Rest of World 15,794 17,738 43,731 56,152 Total International 45,134 45,987 162,021 170,512 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983

Inventories

Inventories	9 Months Ended
	Sep. 28, 2024
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories, net, consist of the following (in thousands): September 28, 2024 December 31, 2023 Raw materials $ 87,359 $ 103,559 Work in progress 21,378 15,374 Finished goods 120,626 96,247 Total $ 229,363 $ 215,180

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 28, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	5. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following (in thousands): September 28, 2024 December 31, 2023 Selling, promotional and advertising $ 47,467 $ 48,440 Employee compensation and benefits 20,569 16,923 Warranty reserve 20,052 22,154 Inventory purchases 18,097 20,790 Insurance reserve 10,837 9,450 Operating lease liability - short term 9,062 7,828 Payroll taxes 4,155 1,700 Freight 4,019 6,034 Short-term notes payable 3,956 2,292 Deferred income 2,197 4,021 Professional fees 2,140 1,449 Taxes - non income 1,582 679 Business restructuring costs 659 1,690 Other accrued liabilities 14,917 12,093 Total $ 159,709 $ 155,543 The Company offers warranties on certain of its products and records an accrual for estimated future claims. Such accruals are based on historical experience and management’s estimate of the level of future claims. The following table summarizes the warranty reserve activities (in thousands): Balance at December 31, 2023 $ 22,154 Accrual for warranties issued during the period 8,202 Payments (6,999) Balance at March 30, 2024 23,357 Accrual for warranties issued during the period 11,637 Payments (10,124) Balance at June 29, 2024 24,870 Acquisitions 1,105 Accrual for warranties issued during the period 9,167 Payments (15,090) Balance at September 28, 2024 $ 20,052 Balance at December 31, 2022 $ 19,652 Accrual for warranties issued during the period 5,424 Payments (7,076) Balance at April 1, 2023 18,000 Accrual for warranties issued during the period 10,135 Payments (11,309) Balance at July 1, 2023 16,826 Accrual for warranties issued during the period 16,382 Payments (16,172) Balance at September 30, 2023 $ 17,036

Income Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	6. Income Taxes The Company’s effective tax rate for the three months ended September 28, 2024 and September 30, 2023 was 21.1% and (23.7)%, respectively, after discrete items. The change in the Company’s effective tax rate was primarily due to the exercise of stock options, the release of the valuation allowance against foreign tax credit carryovers and return-to-provision adjustments in the three months ended September 30, 2023. The Company’s effective tax rate for the nine months ended September 28, 2024 and September 30, 2023 was 20.9% and 19.9%, respectively. The change in the Company’s effective tax rate was primarily due to a decrease in excess tax benefit from stock compensation and the release of the valuation allowance against foreign tax credit carryovers in the nine months ended September 30, 2023, partially offset with a change to the Company's permanent reinvestment assertion for one jurisdiction in the nine months ended September 30, 2023. The Company will recognize a tax benefit in the financial statements for an uncertain tax position only if the Company’s assessment is that the position is “more likely than not” (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for financial reporting purposes. There were no uncertain tax positions at September 28, 2024 or December 31, 2023. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment. Management evaluates the need for valuation allowances on the deferred tax assets according to the provisions of ASC 740, Income Taxes. In making this determination, the Company assesses all available evidence (positive and negative) including recent earnings, internally-prepared income tax projections, and historical financial performance.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt Long-term debt, net, consists of the following (in thousands): September 28, 2024 December 31, 2023 First Lien Term Facility, due May 28, 2028 $ 970,000 $ 975,000 Incremental B First Lien Term Facility, due May 28, 2028 — 123,438 ABL Revolving Credit Facility — — Other bank debt 11,267 8,775 Finance lease obligations 2,800 4,729 Subtotal 984,067 1,111,942 Less: Current portion of the long-term debt (14,079) (15,088) Less: Unamortized debt issuance costs (10,082) (17,574) Total $ 959,906 $ 1,079,280 In April 2024, the Company made $123.1 million of voluntary principal prepayments of the incremental term loan portion of the First Lien Term Facility (the “Incremental Term Loan B”). As a result of these prepayments, there is zero aggregate principal outstanding remaining on the Incremental Term Loan B. On June 26, 2024, the Company entered into the Fourth Amendment to its existing ABL Revolving Credit Facility (the “ABL Facility”) to replace the Canadian reference rate from the Canadian Dollar Offered Rate (“CDOR”) to the Canadian Overnight Repo Rate Average (“CORRA”).

Derivatives and Hedging Transac

Derivatives and Hedging Transactions	9 Months Ended
	Sep. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Transactions	8. Derivatives and Hedging Transactions The Company holds derivative financial instruments for the purpose of hedging the risks of certain identifiable and anticipated transactions. In general, the types of risks hedged are those relating to the variability of future earnings and cash flows caused by movements in foreign currency exchange rates and interest rates. In hedging these transactions, the Company holds the following types of derivatives in the normal course of business. Interest Rate Swap Agreements The Company enters into interest rate swap agreements designated as cash flow hedges to manage interest rate risk related to its variable rate debt obligations. As cash flow hedges, unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The interest rate swap agreements are highly correlated to the changes in interest rates to which the Company is exposed. Unrealized gains and losses on these instruments have been designated as effective and as such, the related gains or losses have been recorded as a component of accumulated other comprehensive income, net of tax. Other comprehensive income or loss is reclassified into current period income when the hedged interest expense affects earnings. As of September 28, 2024 and December 31, 2023, the Company was a party to interest rate swap agreements that hedged a notional amount of $600.0 million of the Company’s variable rate debt. During the three months ended September 28, 2024, the Company entered into interest rate swap agreements with a notional amount of $250.0 million that will become effective in March 2025 and replace existing swap agreements with a notional amount of $250.0 million that had March 2025 maturity dates. These new agreements mature in March 2028. Foreign Exchange Contracts The Company enters into foreign exchange contracts to manage risks associated with future intercompany and foreign currency transactions that may be adversely affected by changes in exchange rates. These contracts are marked-to-market with the resulting gains and losses recognized in earnings. For the three months ended September 28, 2024 and September 30, 2023, the Company recognized $0.6 million of expense and $1.2 million of income, respectively, and for the nine months ended September 28, 2024 and September 30, 2023, the Company recognized $0.3 million of income and $0.3 million of expense, respectively in Other (income) expense, net, related to foreign exchange contracts. Th e following table s ummarizes the gross fair values and location of the significant derivative instruments within the Company’s unaudited condensed consolidated balance sheets (in thousands): Other Current Assets Other Non-Current Assets Accrued Expenses and Other Liabilities Other Non-Current Liabilities Other Current Assets Other Non-Current Assets Accrued Expenses and Other Liabilities Other Non-Current Liabilities September 28, 2024 December 31, 2023 Interest rate swaps $ 2,084 $ 9,435 $ — $ 2,976 $ — $ 21,398 $ — $ 445 Foreign exchange contracts — — 394 — 227 — 872 — Total $ 2,084 $ 9,435 $ 394 $ 2,976 $ 227 $ 21,398 $ 872 $ 445 The following tables present the effects of derivative instruments by contract type in accumulated other comprehensive income ( “ AOCI ” ) in the Company ’ s unaudited condensed consolidated statements of comprehensive income (in thousands): Gain (Loss) Recognized in AOCI (1) Gain (Loss) Reclassified From AOCI to Earnings (2) Location of Gain (Loss) Reclassified from AOCI into Earnings Three Months Ended Three Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest rate swaps (3) $ (9,542) $ 5,244 $ 4,372 $ 4,284 Interest expense, net (1) The tax benefit and expense, respectively, on the gain (loss) recognized in AOCI for the three months ended September 28, 2024 and September 30, 2023 was $2.4 million and $0.2 million, respectively. (2) The tax expense on the gain reclassified from AOCI to earnings for the three months ended September 28, 2024 and September 30, 2023 was $1.1 million and $1.1 million, respectively. (3) The Company estimates that $6.6 million of unrealized gains will be reclassified from AOCI into earnings in the next twelve months. Gain (Loss) Recognized in AOCI (1) Gain (Loss) Reclassified From AOCI to Earnings (2) Location of Gain (Loss) Reclassified from AOCI into Earnings Nine Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest rate swaps $ 716 $ 12,753 $ 13,127 $ 11,191 Interest expense, net (1) The tax expense on the gain recognized in AOCI for the nine months ended September 28, 2024 and September 30, 2023 was $0.2 million and $0.4 million, respectively. (2) The tax expense on the gain reclassified from AOCI to earnings for the nine months ended September 28, 2024 and September 30, 2023 was $3.3 million and $2.8 million, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 28, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements The Company is required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based upon market conditions and perceived risks. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities. The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy: • Level 1 - Inputs are based on quoted prices in active markets for identical assets and liabilities. • Level 2 - Inputs are based on observable inputs other than quoted prices in active markets for identical or similar assets and liabilities. • Level 3 - One or more inputs are unobservable and significant. Financial and nonfinancial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments include cash and cash equivalents, accounts receivable, and accounts payable. The carrying amount of these instruments approximate fair value because of their short-term nature. The Company’s interest rate swaps and foreign exchange contracts are measured in the financial statements at fair value on a recurring basis. The fair values of these instruments are estimated using industry standard valuation models using market-based observable inputs, including interest rate curves. These instruments are customary, over-the-counter contracts with various bank counterparties. Accordingly, the fair value measurements of the interest rate swaps and foreign exchange contracts are categorized as Level 2. The Company’s investment plan assets as part of the nonqualified Hayward Industries Supplemental Retirement Plan (the “Supplemental Retirement Plan”) are presented in the financial statements at fair value on a recurring basis and are based on quoted market prices in active markets. Accordingly, the fair value measurements of the Supplemental Retirement Plan assets are categorized as Level 1. The value of investments related to the Supplemental Retirement Plan is included in other assets and a corresponding liability to participants is recorded in other liabilities. The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis (in thousands): September 28, 2024 December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Interest rate swaps $ — $ 11,519 $ — $ 11,519 $ — $ 21,398 $ — $ 21,398 Foreign exchange contracts — — — — — 227 — 227 Supplemental Retirement Plan assets 7,551 — — 7,551 5,910 — — 5,910 Liabilities: Interest rate swaps $ — $ 2,976 $ — $ 2,976 $ — $ 445 $ — $ 445 Foreign exchange contracts — 394 — 394 — 872 — 872 Supplemental Retirement Plan liabilities 7,551 — — 7,551 5,910 — — 5,910 The estimated fair value of the long-term debt and related current maturities (excluding finance leases, the ABL Facility, and other bank debt) is based on observable quoted prices in active markets for similar liabilities and is classified as a Level 2 input. The fair value of the ABL Facility approximates its carrying value. The following table sets forth the Company’s financial assets and liabilities that were not carried at fair value (in thousands): September 28, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value Assets: Short-term investments $ — $ — $ 25,000 $ 25,000 Liabilities: Long-term debt and related current maturities $ 970,000 $ 973,036 $ 1,098,438 $ 1,098,422

Segments and Related Informatio

Segments and Related Information	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Segments and Related Information	10. Segments and Related Information The Company’s operational and management structure is aligned to its key geographies and go-to market strategy resulting in two reportable segments: North America (“NAM”) and Europe & Rest of World (“E&RW”). Operating segments have not been aggregated to form the reportable segments. The Company determined its reportable segments based on how the Company’s Chief Operating Decision Maker (“CODM”) reviews the Company’s operating results in assessing performance and allocating resources. The CODM reviews net sales, gross profit and segment income for each of the reportable segments. Gross profit is defined as net sales less cost of sales incurred by the segment. The CODM does not evaluate reportable segments using asset information as these are managed on an enterprise-wide basis. Segment income is defined as segment net sales less cost of sales, selling, general and administrative expense (“SG&A”) of the segment and research development and engineering expense (“RD&E”) of the segment, excluding segment acquisition and restructuring related expense as well as amortization of intangible assets recorded within segment SG&A expense. The accounting policies of the segments are the same as those of Holdings. The North America segment manufactures and sells residential and commercial swimming pool equipment and supplies as well as equipment that controls the flow of fluids. The Europe & Rest of World segment manufactures and sells residential and commercial swimming pool equipment and supplies. The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary (in thousands): Three Months Ended Three Months Ended September 28, 2024 September 30, 2023 North America Europe & Rest of World Total North America Europe & Rest of World Total External net sales $ 194,968 $ 32,601 $ 227,569 $ 185,070 $ 35,234 $ 220,304 Segment income 51,569 2,475 54,044 40,108 6,413 46,521 Capital expenditures (1) 6,240 579 6,819 6,524 120 6,644 Depreciation and amortization (1)(2) 6,081 271 6,352 5,765 246 6,011 Intersegment sales 4,093 66 4,159 1,734 79 1,813 Nine Months Ended Nine Months Ended September 28, 2024 September 30, 2023 North America Europe & Rest of World Total North America Europe & Rest of World Total External net sales $ 609,510 $ 115,021 $ 724,531 $ 585,126 $ 128,857 $ 713,983 Segment income 166,646 16,800 183,446 144,346 25,647 169,993 Capital expenditures (1) 15,701 1,806 17,507 21,110 1,082 22,192 Depreciation and amortization (1)(2) 17,493 791 18,284 16,978 694 17,672 Intersegment sales 17,108 126 17,234 9,453 187 9,640 (1) Capital expenditures and depreciation associated with Corporate are not included in these totals. (2) Amortization expense excluded from segment income is not included in these totals. The following table presents a reconciliation of segment income to income from operations before income taxes (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Total segment income $ 54,044 $ 46,521 $ 183,446 $ 169,993 Corporate expense, net 11,907 6,741 27,233 21,265 Acquisition and restructuring related expense 1,145 3,348 2,488 6,220 Amortization of intangible assets 7,576 7,523 21,425 22,777 Operating income 33,416 28,909 132,300 119,731 Interest expense, net 13,209 17,448 48,600 55,939 Loss on debt extinguishment — — 4,926 — Other (income) expense, net (705) 1,932 (1,989) 1,798 Total other expense 12,504 19,380 51,537 57,737 Income from operations before income taxes $ 20,912 $ 9,529 $ 80,763 $ 61,994

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per Share The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net income attributable to common stockholders $ 16,501 $ 11,788 $ 63,922 $ 49,651 Weighted average number of common shares outstanding, basic 215,231,886 213,416,502 214,836,643 212,933,763 Effect of dilutive securities (a) 6,204,320 7,446,726 6,414,712 7,700,469 Weighted average number of common shares outstanding, diluted 221,436,206 220,863,228 221,251,355 220,634,232 Earnings per share attributable to common stockholders, basic $ 0.08 $ 0.06 $ 0.30 $ 0.23 Earnings per share attributable to common stockholders, diluted $ 0.07 $ 0.05 $ 0.29 $ 0.23

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Litigation The Company is involved in litigation arising in the normal course of business. Where appropriate, these matters have been submitted to the Company’s insurance carrier. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. It is not possible to quantify the ultimate liability, if any, in these matters. On August 2, 2023, a securities class action complaint was filed in the United States District Court for the District of New Jersey against the Company and certain of its current directors and officers (Kevin Holleran and Eifion Jones) and MSD Partners and CCMP Capital Advisors, LP on behalf of a putative class of stockholders who acquired shares of the Company’s common stock between March 2, 2022 and July 27, 2022. That action is captioned City of Southfield Fire and Police Retirement System vs. Hayward Holdings, Inc., et al., 2:23-cv-04146-WJM-ESK (D.N.J.) (“City of Southfield”). On September 28, 2023, a second, related securities class action complaint was filed in the United States District Court for the District of New Jersey against the Company and certain of its current directors and officers (Kevin Holleran and Eifion Jones) and MSD Partners and CCMP Capital Advisors, LP on behalf of a putative class of stockholders who acquired shares of the Company’s common stock between October 27, 2021 and July 28, 2022. That action is captioned Erie County Employees’ Retirement System vs. Hayward Holdings, Inc., et al., 2:23-cv-04146-WJM-ESK (D.N.J.) (“Erie County”). On December 19, 2023, the Court issued a ruling consolidating the two securities class actions (City of Southfield and Erie County) under the City of Southfield docket (the “Securities Class Action”) and appointing a lead plaintiff. In a consolidated class action complaint filed March 4, 2024, the Securities Class Action alleged on behalf of a putative class of stockholders who acquired shares of our common stock between October 27, 2021 and July 28, 2022, among other things, that the Company and certain of its current directors and officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, making materially false or misleading statements regarding inventory, growth, and demand trends and the Company’s financial projections for 2022. The complaints seek unspecified monetary damages on behalf of the putative classes and an award of costs and expenses, including reasonable attorneys’ fees. On October 2, 2024, the Court issued an Opinion and Order dismissing the consolidated class action complaint and granted the lead plaintiff leave to file an amended complaint within 30 days. On November 27, 2023, a shareholder derivative lawsuit was filed in the United States District Court for the District of New Jersey against current and past directors of the Company captioned Heicklen v. Holleran , et al., 2:23-cv-22649 (D.N.J.) (the “Derivative Action”). The Derivative Action alleges breaches of fiduciary duties to Company stockholders, aiding and abetting breaches of fiduciary duties, unjust enrichment, corporate waste, and violations of Section 10(b) of the Securities Exchange Act of 1934 in connection with the claims in the Securities Class Action. The Derivative Action seeks recovery of unspecified damages and attorney’s fees and costs, as well as improvements to the Company’s corporate governance and internal procedures. The Derivative Action has been stayed pending final decision on a motion to dismiss being filed in the Securities Class Action. We dispute the allegations of wrongdoing in the Securities Class Action and the Derivative Action and intend to vigorously defend ourselves in these matters. In view of the complexity and ongoing and uncertain nature of the outstanding proceedings and inquiries, at this time we are unable to estimate a reasonably possible financial loss or range of financial loss, if any, that we may incur to resolve or settle the Securities Class Action and the Derivative Action. Contingencies

Leases

Leases	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Leases	13. Leases The Company’s operating and finance lease portfolio is described in Note 15. Leases of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2023. Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 28, 2024 September 30, 2023 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 5,507 $ 885 Finance leases 843 — Supplemental balance sheet information related to leases was as follows (in thousands): September 28, 2024 December 31, 2023 Operating leases Other non-current assets $ 57,876 $ 58,638 Accrued expenses and other liabilities 9,062 7,828 Other non-current liabilities 56,504 58,642 Total operating lease liabilities 65,566 66,470 Finance leases Property, plant and equipment 9,712 10,858 Accumulated depreciation (2,891) (2,415) Property, plant and equipment, net 6,821 8,443 Current maturities of long-term debt 1,878 2,121 Long-term debt 922 2,608 Total finance lease liabilities $ 2,800 $ 4,729
Leases	13. Leases The Company’s operating and finance lease portfolio is described in Note 15. Leases of Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2023. Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 28, 2024 September 30, 2023 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 5,507 $ 885 Finance leases 843 — Supplemental balance sheet information related to leases was as follows (in thousands): September 28, 2024 December 31, 2023 Operating leases Other non-current assets $ 57,876 $ 58,638 Accrued expenses and other liabilities 9,062 7,828 Other non-current liabilities 56,504 58,642 Total operating lease liabilities 65,566 66,470 Finance leases Property, plant and equipment 9,712 10,858 Accumulated depreciation (2,891) (2,415) Property, plant and equipment, net 6,821 8,443 Current maturities of long-term debt 1,878 2,121 Long-term debt 922 2,608 Total finance lease liabilities $ 2,800 $ 4,729

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 28, 2024
Equity [Abstract]
Stockholders’ Equity	14. Stockholders’ Equity Preferred Stock The Company’s Second Restated Certificate of Incorporation authorizes the Company to issue up to 100,000,000 shares of preferred stock, $0.001 value per share, all of which is undesignated. Common Stock The Company’s Second Restated Certificate of Incorporation authorizes the Company to issue up to 750,000,000 shares of Common Stock, $0.001 value per share. Each share of Common Stock is entitled to one vote on all matters submitted to a vote of the Company’s stockholders. The holders of Common Stock are entitled to receive dividends, if any, as may be declared by the Board of Directors. Dividends paid For the three and nine months ended September 28, 2024 and September 30, 2023, no dividends were declared or paid to the Company’s common stockholders. Share Repurchase Program The Board of Directors authorized the Company’s share repurchase program (the “Share Repurchase Program”) such that the Company is authorized to repurchase from time to time up to an aggregate of $450 million of its outstanding shares of common stock, which authorization expires on July 26, 2025. The Company had no repurchases of its common stock in the quarter ended September 28, 2024 under the Share Repurchase Program. As of September 28, 2024, $400.0 million remained available for additional share repurchases under the program.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	15. Stock-based Compensation Stock-based compensation expense recorded in the unaudited condensed consolidated statements of operations for equity-classified stock-based awards for the three and nine months ended September 28, 2024 was $2.7 million and $7.3 million, respectively, and $2.6 million and $6.7 million, respectively, for the three and nine months ended September 30, 2023. The Company has established two equity incentive plans, the 2021 Equity Incentive Plan and the 2017 Equity Incentive Plan. The Company no longer grants awards under the 2017 Equity Incentive Plan. 2021 Equity Incentive Plan In March 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”). Under the 2021 Plan, up to 13,737,500 shares of common stock may be granted to employees, directors and consultants in the form of stock options, restricted stock units and other stock-based awards. The terms of awards granted under the 2021 Plan are determined by the Compensation Committee of the Board of Directors, subject to the provisions of the 2021 Plan. Options granted under the 2021 Plan expire no later than ten years from the date of grant. Options and time-based restricted stock units granted under the 2021 Plan generally vest ratably over a three-year period and performance-based restricted stock units vest at the end of three years subject to the performance criteria. During the nine months ended September 28, 2024, the Company granted 781,719 time-based restricted stock units and 304,518 performance-based restricted stock units (at the target performance level) under the 2021 Plan with a weighted-average grant-date fair value per share of $14.01 and $14.17, respectively.

Acquisitions and Restructuring

Acquisitions and Restructuring	9 Months Ended
	Sep. 28, 2024
Acquisition, Restructuring and Related Activities [Abstract]
Acquisitions and Restructuring	16. Acquisitions and Restructuring Acquisition and restructuring related expense, net consists of the following (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Business restructuring costs $ 444 $ 3,348 $ 1,232 $ 5,426 Acquisition transaction and integration costs 701 — 1,256 794 Total $ 1,145 $ 3,348 $ 2,488 $ 6,220 During the third quarter of 2023, the Company initiated programs to centralize and consolidate operations and professional services in Europe. For the three and nine months ended September 28, 2024, the Company incurred zero and $0.7 million, respectively, of expense related to the programs, which include severance and employee benefit costs, as well as other direct separation benefit costs. The impacted employees must remain with the Company through their planned exit date to receive each of the severance and retention amounts. Such costs are accounted for in accordance with ASC 420, Exit or Disposal Cost Obligations . During the three months ended September 28, 2024, the Company incurred $0.4 million of costs to finalize actions initiated in prior years. The following tables summarize the status of the Company’s restructuring related expense and related liability balances (in thousands): 2024 Activity Liability as of December 31, 2023 Costs Recognized Cash Payments Non-cash charges Liability as of September 28, 2024 One-time termination benefits $ 2,353 $ 488 $ (2,101) $ — $ 740 Facility-related — 182 (182) — — Other 6 562 (456) 67 179 Total $ 2,359 $ 1,232 $ (2,739) $ 67 $ 919 2023 Activity Liability as of December 31, 2022 Costs Recognized Cash Payments Liability as of September 30, 2023 One-time termination benefits $ 2,422 $ 4,894 $ (3,731) $ 3,585 Other — 532 (470) 62 Total $ 2,422 $ 5,426 $ (4,201) $ 3,647 Restructuring costs are included within acquisition and restructuring related costs on the Company’s unaudited condensed consolidated statements of operations, while the restructuring liability is included as a component of accrued expenses and other liabilities on the Company’s unaudited condensed consolidated balance sheets. Acquisitions On June 26, 2024, the Company acquired the equity interests of ChlorKing HoldCo, LLC and related entities (“ChlorKing”). The acquired business includes pool saline chlorinators and UV disinfection systems serving the commercial pools and water treatment market segments. The acquisition broadens the Company’s commercial portfolio of products and expands the market of commercial customers while furthering the Company's commitment to sustainable and energy-efficient technology for both commercial and residential pools. The acquisition is included in our North America segment. The consideration paid net of cash acquired was $61.6 million. The purchase price was funded with cash on hand. For the three and nine months ended September 28, 2024, transaction expenses recognized for the acquisition were $0.7 million and $1.3 million, respectively. These expenses are included within acquisition and restructuring related costs on the Company’s unaudited condensed consolidated statements of operations. The purchase price allocation is preliminary and subject to change as the Company finalizes the valuation of goodwill, intangible assets, inventory and leases, in addition to identifying and recording all other assets and liabilities and contingencies. Preliminary estimates will be finalized within one year of the date of acquisition. The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed, including measurement period adjustments recorded through September 28, 2024 (in thousands): Preliminary Allocation Measurement Preliminary Allocation As of June 26, 2024 As of September 28, 2024 Cash and cash equivalents $ 3,898 $ 134 $ 4,032 Receivables 3,701 (730) 2,971 Inventory 8,978 582 9,560 Prepaid expenses and other current assets 269 830 1,099 Property, plant and equipment 37 — 37 Other assets 2,565 — 2,565 Net Investment in Lease 1,867 5,449 7,316 Intangible assets 31,550 (3,075) 28,475 Accounts payable and accrued liabilities (4,302) (3,046) (7,348) Deferred tax liabilities — (1,810) (1,810) Total identifiable net assets acquired 48,563 (1,666) 46,897 Goodwill 17,835 936 18,771 Preliminary purchase price $ 66,398 $ (730) $ 65,668 The estimated preliminary fair value and useful lives of the identifiable intangible assets are as follows: Estimated Useful Lives Estimated Amounts (in years) (in thousands) Finite lived intangible assets Tradename 15 $ 2,600 Customer relationships 15 21,200 Developed technology 10 4,600 Noncompete agreements 5 75 Total $ 28,475 Goodwill is a result of the expected synergies and cross-selling opportunities this acquisition is expected to bring, as well as the expected growth potential from the integration of the ChlorKing products into Hayward’s existing commercial business. Any changes in the estimated fair values of the assets acquired and liabilities assumed in the acquisition may change the amount of the purchase consideration allocated to goodwill. The goodwill balance has been recorded to the North America reportable segment and is deductible for tax purposes.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 28, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	17. Related-Party Transactions During the three and nine months ended September 28, 2024 and September 30, 2023, the Company did not incur any significant related-party transactions.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 16,501	$ 37,581	$ 9,840	$ 11,788	$ 29,453	$ 8,410	$ 63,922	$ 49,651

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 28, 2024 shares	Sep. 28, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Kevin Holleran [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 9, 2024, Kevin Holleran, our President and Chief Executive Officer, entered into a Rule 10b5-1 Trading Plan that provides that Mr. Holleran, acting through a broker, may sell up to an aggregate of 600,000 shares of our common stock. Sales of shares under the plan may only occur from November 11, 2024, to June 13, 2025. The plan is scheduled to terminate on June 13, 2025, subject to earlier termination upon the sale of all shares subject to the plan, upon termination by Mr. Holleran or the broker, or as otherwise provided in the plan.
Name	Kevin Holleran
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 9, 2024
Expiration Date	June 13, 2025
Arrangement Duration	214 days
Aggregate Available	600,000	600,000
Eifion Jones [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 9, 2024, Eifion Jones, our Senior Vice President, Chief Financial Officer, entered into a Rule 10b5-1 Trading Plan that provides that Mr. Jones, acting through a broker, may sell up to an aggregate of 100,000 shares of our common stock. Sales of shares under the plan may only occur from November 8, 2024, to May 30, 2025. The plan is scheduled to terminate on May 30, 2025, subject to earlier termination upon the sale of all shares subject to the plan, upon termination by Mr. Jones or the broker, or as otherwise provided in the plan.
Name	Eifion Jones
Title	Senior Vice President, Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 9, 2024
Expiration Date	May 30, 2025
Arrangement Duration	203 days
Aggregate Available	100,000	100,000

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”), have been condensed or omitted pursuant to such rules and regulations. These interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements and notes thereto for the fiscal year ended December 31, 2023. The results of operations for the three and nine months ended September 28, 2024 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2024. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified for comparative purposes to conform to the current presentation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Segment Reporting In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about significant segment expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company will adopt the standard in the Company's annual report on Form 10-K for the year ended December 31, 2024. In addition to other required disclosures, the Company will disclose cost of goods sold, selling, general and administrative expense (“SG&A”) and research, development and engineering expense (“RD&E”) by segment. Income Taxes In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which is intended to improve income tax disclosure requirements by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure requirements. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, and is required to be applied prospectively with the option of retrospective application. The Company is evaluating the impact of the standard on its income tax disclosures and does not intend to early adopt.
Fair Value Measurements	The Company is required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based upon market conditions and perceived risks. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities. The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy: • Level 1 - Inputs are based on quoted prices in active markets for identical assets and liabilities. • Level 2 - Inputs are based on observable inputs other than quoted prices in active markets for identical or similar assets and liabilities. • Level 3 - One or more inputs are unobservable and significant.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Net Sales by Product Groups	The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Product groups Residential pool $ 200,794 $ 198,073 $ 652,697 $ 646,608 Commercial pool 14,172 9,518 34,259 30,595 Flow control 12,603 12,713 37,575 36,780 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983 Geographic United States $ 182,435 $ 174,317 $ 562,510 $ 543,471 Canada 12,533 10,754 47,000 41,655 Europe 16,807 17,495 71,290 72,705 Rest of World 15,794 17,738 43,731 56,152 Total International 45,134 45,987 162,021 170,512 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983
Schedule of Net Sales by Geographic Destinations	The following table disaggregates net sales between product groups and geographic regions, respectively (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Product groups Residential pool $ 200,794 $ 198,073 $ 652,697 $ 646,608 Commercial pool 14,172 9,518 34,259 30,595 Flow control 12,603 12,713 37,575 36,780 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983 Geographic United States $ 182,435 $ 174,317 $ 562,510 $ 543,471 Canada 12,533 10,754 47,000 41,655 Europe 16,807 17,495 71,290 72,705 Rest of World 15,794 17,738 43,731 56,152 Total International 45,134 45,987 162,021 170,512 Total $ 227,569 $ 220,304 $ 724,531 $ 713,983

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 28, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net, consist of the following (in thousands): September 28, 2024 December 31, 2023 Raw materials $ 87,359 $ 103,559 Work in progress 21,378 15,374 Finished goods 120,626 96,247 Total $ 229,363 $ 215,180

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 28, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities and Other Current Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): September 28, 2024 December 31, 2023 Selling, promotional and advertising $ 47,467 $ 48,440 Employee compensation and benefits 20,569 16,923 Warranty reserve 20,052 22,154 Inventory purchases 18,097 20,790 Insurance reserve 10,837 9,450 Operating lease liability - short term 9,062 7,828 Payroll taxes 4,155 1,700 Freight 4,019 6,034 Short-term notes payable 3,956 2,292 Deferred income 2,197 4,021 Professional fees 2,140 1,449 Taxes - non income 1,582 679 Business restructuring costs 659 1,690 Other accrued liabilities 14,917 12,093 Total $ 159,709 $ 155,543
Schedule of Change in Warranty Reserve	The following table summarizes the warranty reserve activities (in thousands): Balance at December 31, 2023 $ 22,154 Accrual for warranties issued during the period 8,202 Payments (6,999) Balance at March 30, 2024 23,357 Accrual for warranties issued during the period 11,637 Payments (10,124) Balance at June 29, 2024 24,870 Acquisitions 1,105 Accrual for warranties issued during the period 9,167 Payments (15,090) Balance at September 28, 2024 $ 20,052 Balance at December 31, 2022 $ 19,652 Accrual for warranties issued during the period 5,424 Payments (7,076) Balance at April 1, 2023 18,000 Accrual for warranties issued during the period 10,135 Payments (11,309) Balance at July 1, 2023 16,826 Accrual for warranties issued during the period 16,382 Payments (16,172) Balance at September 30, 2023 $ 17,036

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt, net, consists of the following (in thousands): September 28, 2024 December 31, 2023 First Lien Term Facility, due May 28, 2028 $ 970,000 $ 975,000 Incremental B First Lien Term Facility, due May 28, 2028 — 123,438 ABL Revolving Credit Facility — — Other bank debt 11,267 8,775 Finance lease obligations 2,800 4,729 Subtotal 984,067 1,111,942 Less: Current portion of the long-term debt (14,079) (15,088) Less: Unamortized debt issuance costs (10,082) (17,574) Total $ 959,906 $ 1,079,280

Derivatives and Hedging Trans_2

Derivatives and Hedging Transactions (Tables)	9 Months Ended
	Sep. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Effect of Derivative Instruments in the Statement of Financial Position and Operations and Comprehensive Income (Loss)	Th e following table s ummarizes the gross fair values and location of the significant derivative instruments within the Company’s unaudited condensed consolidated balance sheets (in thousands): Other Current Assets Other Non-Current Assets Accrued Expenses and Other Liabilities Other Non-Current Liabilities Other Current Assets Other Non-Current Assets Accrued Expenses and Other Liabilities Other Non-Current Liabilities September 28, 2024 December 31, 2023 Interest rate swaps $ 2,084 $ 9,435 $ — $ 2,976 $ — $ 21,398 $ — $ 445 Foreign exchange contracts — — 394 — 227 — 872 — Total $ 2,084 $ 9,435 $ 394 $ 2,976 $ 227 $ 21,398 $ 872 $ 445 The following tables present the effects of derivative instruments by contract type in accumulated other comprehensive income ( “ AOCI ” ) in the Company ’ s unaudited condensed consolidated statements of comprehensive income (in thousands): Gain (Loss) Recognized in AOCI (1) Gain (Loss) Reclassified From AOCI to Earnings (2) Location of Gain (Loss) Reclassified from AOCI into Earnings Three Months Ended Three Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest rate swaps (3) $ (9,542) $ 5,244 $ 4,372 $ 4,284 Interest expense, net (1) The tax benefit and expense, respectively, on the gain (loss) recognized in AOCI for the three months ended September 28, 2024 and September 30, 2023 was $2.4 million and $0.2 million, respectively. (2) The tax expense on the gain reclassified from AOCI to earnings for the three months ended September 28, 2024 and September 30, 2023 was $1.1 million and $1.1 million, respectively. (3) The Company estimates that $6.6 million of unrealized gains will be reclassified from AOCI into earnings in the next twelve months. Gain (Loss) Recognized in AOCI (1) Gain (Loss) Reclassified From AOCI to Earnings (2) Location of Gain (Loss) Reclassified from AOCI into Earnings Nine Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest rate swaps $ 716 $ 12,753 $ 13,127 $ 11,191 Interest expense, net (1) The tax expense on the gain recognized in AOCI for the nine months ended September 28, 2024 and September 30, 2023 was $0.2 million and $0.4 million, respectively. (2) The tax expense on the gain reclassified from AOCI to earnings for the nine months ended September 28, 2024 and September 30, 2023 was $3.3 million and $2.8 million, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 28, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis (in thousands): September 28, 2024 December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Interest rate swaps $ — $ 11,519 $ — $ 11,519 $ — $ 21,398 $ — $ 21,398 Foreign exchange contracts — — — — — 227 — 227 Supplemental Retirement Plan assets 7,551 — — 7,551 5,910 — — 5,910 Liabilities: Interest rate swaps $ — $ 2,976 $ — $ 2,976 $ — $ 445 $ — $ 445 Foreign exchange contracts — 394 — 394 — 872 — 872 Supplemental Retirement Plan liabilities 7,551 — — 7,551 5,910 — — 5,910
Schedule of Financial Assets and Liabilities	The following table sets forth the Company’s financial assets and liabilities that were not carried at fair value (in thousands): September 28, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value Assets: Short-term investments $ — $ — $ 25,000 $ 25,000 Liabilities: Long-term debt and related current maturities $ 970,000 $ 973,036 $ 1,098,438 $ 1,098,422

Segments and Related Informat_2

Segments and Related Information (Tables)	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company sells its products primarily through distributors and retailers. Financial information by reportable segment, net of intercompany transactions, is included in the following summary (in thousands): Three Months Ended Three Months Ended September 28, 2024 September 30, 2023 North America Europe & Rest of World Total North America Europe & Rest of World Total External net sales $ 194,968 $ 32,601 $ 227,569 $ 185,070 $ 35,234 $ 220,304 Segment income 51,569 2,475 54,044 40,108 6,413 46,521 Capital expenditures (1) 6,240 579 6,819 6,524 120 6,644 Depreciation and amortization (1)(2) 6,081 271 6,352 5,765 246 6,011 Intersegment sales 4,093 66 4,159 1,734 79 1,813 Nine Months Ended Nine Months Ended September 28, 2024 September 30, 2023 North America Europe & Rest of World Total North America Europe & Rest of World Total External net sales $ 609,510 $ 115,021 $ 724,531 $ 585,126 $ 128,857 $ 713,983 Segment income 166,646 16,800 183,446 144,346 25,647 169,993 Capital expenditures (1) 15,701 1,806 17,507 21,110 1,082 22,192 Depreciation and amortization (1)(2) 17,493 791 18,284 16,978 694 17,672 Intersegment sales 17,108 126 17,234 9,453 187 9,640 (1) Capital expenditures and depreciation associated with Corporate are not included in these totals. (2) Amortization expense excluded from segment income is not included in these totals. The following table presents a reconciliation of segment income to income from operations before income taxes (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Total segment income $ 54,044 $ 46,521 $ 183,446 $ 169,993 Corporate expense, net 11,907 6,741 27,233 21,265 Acquisition and restructuring related expense 1,145 3,348 2,488 6,220 Amortization of intangible assets 7,576 7,523 21,425 22,777 Operating income 33,416 28,909 132,300 119,731 Interest expense, net 13,209 17,448 48,600 55,939 Loss on debt extinguishment — — 4,926 — Other (income) expense, net (705) 1,932 (1,989) 1,798 Total other expense 12,504 19,380 51,537 57,737 Income from operations before income taxes $ 20,912 $ 9,529 $ 80,763 $ 61,994

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net income attributable to common stockholders $ 16,501 $ 11,788 $ 63,922 $ 49,651 Weighted average number of common shares outstanding, basic 215,231,886 213,416,502 214,836,643 212,933,763 Effect of dilutive securities (a) 6,204,320 7,446,726 6,414,712 7,700,469 Weighted average number of common shares outstanding, diluted 221,436,206 220,863,228 221,251,355 220,634,232 Earnings per share attributable to common stockholders, basic $ 0.08 $ 0.06 $ 0.30 $ 0.23 Earnings per share attributable to common stockholders, diluted $ 0.07 $ 0.05 $ 0.29 $ 0.23

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Schedule of Lease, Cost	Supplemental cash flow information related to leases was as follows (in thousands): Nine Months Ended September 28, 2024 September 30, 2023 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 5,507 $ 885 Finance leases 843 —
Schedule of Assets and Liabilities, Lessee	Supplemental balance sheet information related to leases was as follows (in thousands): September 28, 2024 December 31, 2023 Operating leases Other non-current assets $ 57,876 $ 58,638 Accrued expenses and other liabilities 9,062 7,828 Other non-current liabilities 56,504 58,642 Total operating lease liabilities 65,566 66,470 Finance leases Property, plant and equipment 9,712 10,858 Accumulated depreciation (2,891) (2,415) Property, plant and equipment, net 6,821 8,443 Current maturities of long-term debt 1,878 2,121 Long-term debt 922 2,608 Total finance lease liabilities $ 2,800 $ 4,729

Acquisitions and Restructuring

Acquisitions and Restructuring (Tables)	9 Months Ended
	Sep. 28, 2024
Acquisition, Restructuring and Related Activities [Abstract]
Schedule of Acquisition and Restructuring Related Expense	Acquisition and restructuring related expense, net consists of the following (in thousands): Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Business restructuring costs $ 444 $ 3,348 $ 1,232 $ 5,426 Acquisition transaction and integration costs 701 — 1,256 794 Total $ 1,145 $ 3,348 $ 2,488 $ 6,220
Schedule of Charges for Facility Closure and Other One Time Termination Benefits	The following tables summarize the status of the Company’s restructuring related expense and related liability balances (in thousands): 2024 Activity Liability as of December 31, 2023 Costs Recognized Cash Payments Non-cash charges Liability as of September 28, 2024 One-time termination benefits $ 2,353 $ 488 $ (2,101) $ — $ 740 Facility-related — 182 (182) — — Other 6 562 (456) 67 179 Total $ 2,359 $ 1,232 $ (2,739) $ 67 $ 919 2023 Activity Liability as of December 31, 2022 Costs Recognized Cash Payments Liability as of September 30, 2023 One-time termination benefits $ 2,422 $ 4,894 $ (3,731) $ 3,585 Other — 532 (470) 62 Total $ 2,422 $ 5,426 $ (4,201) $ 3,647
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed, including measurement period adjustments recorded through September 28, 2024 (in thousands): Preliminary Allocation Measurement Preliminary Allocation As of June 26, 2024 As of September 28, 2024 Cash and cash equivalents $ 3,898 $ 134 $ 4,032 Receivables 3,701 (730) 2,971 Inventory 8,978 582 9,560 Prepaid expenses and other current assets 269 830 1,099 Property, plant and equipment 37 — 37 Other assets 2,565 — 2,565 Net Investment in Lease 1,867 5,449 7,316 Intangible assets 31,550 (3,075) 28,475 Accounts payable and accrued liabilities (4,302) (3,046) (7,348) Deferred tax liabilities — (1,810) (1,810) Total identifiable net assets acquired 48,563 (1,666) 46,897 Goodwill 17,835 936 18,771 Preliminary purchase price $ 66,398 $ (730) $ 65,668
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The estimated preliminary fair value and useful lives of the identifiable intangible assets are as follows: Estimated Useful Lives Estimated Amounts (in years) (in thousands) Finite lived intangible assets Tradename 15 $ 2,600 Customer relationships 15 21,200 Developed technology 10 4,600 Noncompete agreements 5 75 Total $ 28,475

Nature of Operations and Orga_2

Nature of Operations and Organization (Details)	Sep. 28, 2024 manufacturing_facility
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of manufacturing facilities	7

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Revenue from External Customer [Line Items]
Net sales	$ 227,569	$ 220,304	$ 724,531	$ 713,983
United States
Revenue from External Customer [Line Items]
Net sales	182,435	174,317	562,510	543,471
Total International
Revenue from External Customer [Line Items]
Net sales	45,134	45,987	162,021	170,512
Canada
Revenue from External Customer [Line Items]
Net sales	12,533	10,754	47,000	41,655
Europe
Revenue from External Customer [Line Items]
Net sales	16,807	17,495	71,290	72,705
Rest of World
Revenue from External Customer [Line Items]
Net sales	15,794	17,738	43,731	56,152
Residential pool
Revenue from External Customer [Line Items]
Net sales	200,794	198,073	652,697	646,608
Commercial pool
Revenue from External Customer [Line Items]
Net sales	14,172	9,518	34,259	30,595
Flow control
Revenue from External Customer [Line Items]
Net sales	$ 12,603	$ 12,713	$ 37,575	$ 36,780

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 87,359	$ 103,559
Work in progress	21,378	15,374
Finished goods	120,626	96,247
Total	$ 229,363	$ 215,180

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Selling, promotional and advertising	$ 47,467			$ 48,440
Employee compensation and benefits	20,569			16,923
Warranty reserve	20,052	$ 24,870	$ 23,357	22,154	$ 17,036	$ 16,826	$ 18,000	$ 19,652
Inventory purchases	18,097			20,790
Insurance reserve	10,837			9,450
Operating lease liability - short term	9,062			7,828
Payroll taxes	4,155			1,700
Freight	4,019			6,034
Short-term notes payable	3,956			2,292
Deferred income	2,197			4,021
Professional fees	2,140			1,449
Taxes - non income	1,582			679
Business restructuring costs	659			1,690
Other accrued liabilities	14,917			12,093
Total	$ 159,709			$ 155,543

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities - Warranty Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 24,870	$ 23,357	$ 22,154	$ 16,826	$ 18,000	$ 19,652
Acquisitions	1,105
Accrual for warranties issued during the period	9,167	11,637	8,202	16,382	10,135	5,424
Payments	(15,090)	(10,124)	(6,999)	(16,172)	(11,309)	(7,076)
Ending balance	$ 20,052	$ 24,870	$ 23,357	$ 17,036	$ 16,826	$ 18,000

Accrued Expenses and Other Li_5

Accrued Expenses and Other Liabilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Payables and Accruals [Abstract]
Warranty expense	$ 9.2	$ 16.4	$ 29	$ 31.9

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	21.10%	(23.70%)	20.90%	19.90%

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Other bank debt	$ 11,267	$ 8,775
Finance lease obligations	2,800	4,729
Subtotal	984,067	1,111,942
Less: Current portion of the long-term debt	(14,079)	(15,088)
Less: Unamortized debt issuance costs	(10,082)	(17,574)
Total	959,906	1,079,280
Term Loan | First Lien Term Facility, due May 28, 2028
Line of Credit Facility [Line Items]
Long-term debt, gross	970,000	975,000
Term Loan | Incremental B First Lien Term Facility, due May 28, 2028
Line of Credit Facility [Line Items]
Long-term debt, gross	0	123,438
Revolving Credit Facility | ABL Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term debt, gross	$ 0	$ 0

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Thousands		1 Months Ended		9 Months Ended
	May 22, 2023	Apr. 30, 2024 USD ($)	Apr. 30, 2023	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Payments of long-term debt				$ 129,971	$ 9,325
Incremental Term Loan B | First Lien Term Facility
Line of Credit Facility [Line Items]
Payments of long-term debt		$ 123,100
Long-term debt		$ 0
Term Loan | First Lien Term Facility, Due May 28, 2028
Line of Credit Facility [Line Items]
Leverage ratio threshold for mandatory prepayment of zero	2.5
Leverage ratio threshold for mandatory prepayment of fifty percent	3
Term Loan | First Lien Term Facility, Due May 28, 2028 | Minimum
Line of Credit Facility [Line Items]
Mandatory annual prepayment, percentage of excess cash			0%
Term Loan | First Lien Term Facility, Due May 28, 2028 | Maximum
Line of Credit Facility [Line Items]
Mandatory annual prepayment, percentage of excess cash			50%

Derivatives and Hedging Trans_3

Derivatives and Hedging Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Other (expense) income	$ 705	$ (1,932)	$ 1,989	$ (1,798)
Interest rate swaps
Derivative [Line Items]
Derivative, notional amount	250,000		250,000
Interest rate swaps | Cash Flow Hedging
Derivative [Line Items]
Derivative, notional amount	600,000		600,000		$ 600,000
Existing Swap Agreements
Derivative [Line Items]
Derivative, notional amount	250,000		250,000
Foreign exchange contracts
Derivative [Line Items]
Other (expense) income	$ (600)	$ 1,200	$ 300	$ (300)

Derivatives and Hedging Trans_4

Derivatives and Hedging Transactions - Gross Fair Values and Location of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Other Current Assets
Derivatives, Fair Value [Line Items]
Other Assets	$ 2,084	$ 227
Other Current Assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Other Assets	2,084	0
Other Current Assets | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Other Assets	0	227
Other Non-Current Assets
Derivatives, Fair Value [Line Items]
Other Assets	9,435	21,398
Other Non-Current Assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Other Assets	9,435	21,398
Other Non-Current Assets | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Other Assets	0	0
Accrued Expenses and Other Liabilities
Derivatives, Fair Value [Line Items]
Other Liabilities	394	872
Accrued Expenses and Other Liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Other Liabilities	0	0
Accrued Expenses and Other Liabilities | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Other Liabilities	394	872
Other Non-Current Liabilities
Derivatives, Fair Value [Line Items]
Other Liabilities	2,976	445
Other Non-Current Liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Other Liabilities	2,976	445
Other Non-Current Liabilities | Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Other Liabilities	$ 0	$ 0

Derivatives and Hedging Trans_5

Derivatives and Hedging Transactions - Effects of Derivative Instruments by Contract Type in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Tax expense on the gain reclassified from AOCI to earnings	$ 1,100	$ 1,100
Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Tax (benefit) expense on the gain (loss) recognized in AOCI	(2,400)	200	$ 200	$ 400
Tax expense on the gain reclassified from AOCI to earnings			3,300	(2,800)
Cash flow hedge gain to be reclassified within 12 months	6,600	6,600
Interest Expense | Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in AOCI, Interest rate swaps	(9,542)	5,244	716	12,753
Gain (Loss) Reclassified From AOCI to Earnings, Interest rate swaps	$ 4,372	$ 4,284	$ 13,127	$ 11,191

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Interest rate swaps
Debt Instrument [Line Items]
Assets:	$ 11,519	$ 21,398
Liabilities:	2,976	445
Interest rate swaps | Level 1
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Interest rate swaps | Level 2
Debt Instrument [Line Items]
Assets:	11,519	21,398
Liabilities:	2,976	445
Interest rate swaps | Level 3
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Foreign exchange contracts
Debt Instrument [Line Items]
Assets:	0	227
Liabilities:	394	872
Foreign exchange contracts | Level 1
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Foreign exchange contracts | Level 2
Debt Instrument [Line Items]
Assets:	0	227
Liabilities:	394	872
Foreign exchange contracts | Level 3
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Supplemental Retirement Plan assets
Debt Instrument [Line Items]
Assets:	7,551	5,910
Liabilities:	7,551	5,910
Supplemental Retirement Plan assets | Level 1
Debt Instrument [Line Items]
Assets:	7,551	5,910
Liabilities:	7,551	5,910
Supplemental Retirement Plan assets | Level 2
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Supplemental Retirement Plan assets | Level 3
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Short-term investments	$ 0	$ 25,000
Carrying Value | Level 2
Debt Instrument [Line Items]
Short-term investments	0	25,000
Long-term debt and related current maturities	970,000	1,098,438
Fair Value | Level 2
Debt Instrument [Line Items]
Short-term investments	0	25,000
Long-term debt and related current maturities	$ 973,036	$ 1,098,422

Segments and Related Informat_3

Segments and Related Information - Additional Information (Details)	9 Months Ended
	Sep. 28, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments and Related Informat_4

Segments and Related Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Revenue, Major Customer [Line Items]
External net sales	$ 227,569	$ 220,304	$ 724,531	$ 713,983
Segment income	33,416	28,909	132,300	119,731
Operating Segments
Revenue, Major Customer [Line Items]
External net sales	227,569	220,304	724,531	713,983
Segment income	54,044	46,521	183,446	169,993
Capital expenditures	6,819	6,644	17,507	22,192
Depreciation and amortization	6,352	6,011	18,284	17,672
Intersegment sales
Revenue, Major Customer [Line Items]
External net sales	4,159	1,813	17,234	9,640
North America | Operating Segments
Revenue, Major Customer [Line Items]
External net sales	194,968	185,070	609,510	585,126
Segment income	51,569	40,108	166,646	144,346
Capital expenditures	6,240	6,524	15,701	21,110
Depreciation and amortization	6,081	5,765	17,493	16,978
North America | Intersegment sales
Revenue, Major Customer [Line Items]
External net sales	4,093	1,734	17,108	9,453
Europe & Rest of World | Operating Segments
Revenue, Major Customer [Line Items]
External net sales	32,601	35,234	115,021	128,857
Segment income	2,475	6,413	16,800	25,647
Capital expenditures	579	120	1,806	1,082
Depreciation and amortization	271	246	791	694
Europe & Rest of World | Intersegment sales
Revenue, Major Customer [Line Items]
External net sales	$ 66	$ 79	$ 126	$ 187

Segments and Related Informat_5

Segments and Related Information - Reconciliation of Segment Income to Income from Operations Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Revenue, Major Customer [Line Items]
Operating income	$ 33,416	$ 28,909	$ 132,300	$ 119,731
Acquisition and restructuring related expense	1,145	3,348	2,488	6,220
Amortization of intangible assets	7,576	7,523	21,425	22,777
Interest expense, net	13,209	17,448	48,600	55,939
Loss on debt extinguishment	0	0	4,926	0
Other (income) expense, net	(705)	1,932	(1,989)	1,798
Total other expense	12,504	19,380	51,537	57,737
Income from operations before income taxes	20,912	9,529	80,763	61,994
Total segment income
Revenue, Major Customer [Line Items]
Operating income	54,044	46,521	183,446	169,993
Corporate expense, net
Revenue, Major Customer [Line Items]
Operating income	$ 11,907	$ 6,741	$ 27,233	$ 21,265

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 16,501	$ 37,581	$ 9,840	$ 11,788	$ 29,453	$ 8,410	$ 63,922	$ 49,651
Weighted Average Number of Shares Outstanding, Basic
Weighted average number of common shares outstanding, basic (in shares)	215,231,886			213,416,502			214,836,643	212,933,763
Effect of dilutive securities (in shares)	6,204,320			7,446,726			6,414,712	7,700,469
Weighted average number of common shares outstanding, diluted (in shares)	221,436,206			220,863,228			221,251,355	220,634,232
Earnings Per Share, Basic and Diluted
Earnings per share attributable to common stockholders, basic (in usd per share)	$ 0.08			$ 0.06			$ 0.30	$ 0.23
Earnings per share attributable to common stockholders, diluted (in usd per share)	$ 0.07			$ 0.05			$ 0.29	$ 0.23
Excluded from the weighted average number of common shares outstanding, dilutive due to being anti-dilutive (in shares)	2,500,000			2,900,000			2,500,000	2,800,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - classAction	Oct. 02, 2024	Dec. 19, 2023
Subsequent Event
Loss Contingencies [Line Items]
Number of period to file an amended complaint	30 days
Southfield and Erie
Loss Contingencies [Line Items]
Number of security class actions		2

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 5,507	$ 885
Finance leases	$ 843	$ 0

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 31, 2023
Operating leases
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Other non-current assets	$ 57,876	$ 58,638
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Accrued expenses and other liabilities	$ 9,062	$ 7,828
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Other non-current liabilities	$ 56,504	$ 58,642
Total operating lease liabilities	65,566	66,470
Finance leases
Property, plant and equipment	9,712	10,858
Accumulated depreciation	$ (2,891)	$ (2,415)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant, and equipment, net of accumulated depreciation of $108,726 and $95,917, respectively	Property, plant, and equipment, net of accumulated depreciation of $108,726 and $95,917, respectively
Property, plant and equipment, net	$ 6,821	$ 8,443
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Current maturities of long-term debt	$ 1,878	$ 2,121
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt, net	Long-term debt, net
Long-term debt	$ 922	$ 2,608
Total finance lease liabilities	$ 2,800	$ 4,729

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024 USD ($) vote $ / shares shares	Sep. 30, 2023 $ / shares	Sep. 28, 2024 USD ($) vote $ / shares shares	Sep. 30, 2023 $ / shares	Dec. 31, 2023 $ / shares shares
Equity [Abstract]
Preferred stock authorized (in shares) | shares	100,000,000		100,000,000		100,000,000
Preferred shares par value (in usd per share)	$ 0.001		$ 0.001		$ 0.001
Common stock, authorized (in shares) | shares	750,000,000		750,000,000		750,000,000
Common stock, par value (in usd per share)	$ 0.001		$ 0.001		$ 0.001
Number of votes | vote	1		1
Common stock dividends declared (in usd per share)	$ 0	$ 0	$ 0	$ 0
Common stock dividends cash paid (in usd per share)	$ 0	$ 0	$ 0	$ 0
Share repurchase program amount | $	$ 450		$ 450
Number of shares repurchased (in shares) | shares	0
Remaining amount authorized for repurchase | $	$ 400		$ 400

Stock-based Compensation (Detai

Stock-based Compensation (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024 USD ($) incentivePlan	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) incentivePlan $ / shares shares	Sep. 30, 2023 USD ($)	Mar. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 2.7	$ 2.6	$ 7.3	$ 6.7
Number of equity incentive plans | incentivePlan	2		2
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized for future issuance (in shares)					13,737,500
2021 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration term			10 years
2021 Plan | Time Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Granted (in shares)			781,719
Granted (in usd per share) | $ / shares			$ 14.01
2021 Plan | Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Granted (in shares)			304,518
Granted (in usd per share) | $ / shares			$ 14.17

Acquisitions and Restructurin_2

Acquisitions and Restructuring - Acquisition and Restructuring Related Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Acquisition, Restructuring and Related Activities [Abstract]
Business restructuring costs	$ 444	$ 3,348	$ 1,232	$ 5,426
Acquisition transaction and integration costs	701	0	1,256	794
Total	$ 1,145	$ 3,348	$ 2,488	$ 6,220

Acquisitions and Restructurin_3

Acquisitions and Restructuring - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jun. 26, 2024	Sep. 28, 2024	Sep. 28, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs			$ 1,232	$ 5,426
ChlorKing
Restructuring Cost and Reserve [Line Items]
Consideration transferred	$ 61,600
Transaction costs		$ 700	1,300
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	$ 700
Restructuring costs		$ 400

Acquisitions and Restructurin_4

Acquisitions and Restructuring - Facility Closure and Other One-Time Termination Benefits (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Beginning balance	$ 2,359	$ 2,422
Costs Recognized	1,232	5,426
Cash Payments	(2,739)	(4,201)
Non-cash charges	67
Ending balance	919	3,647
One-time termination benefits
Restructuring Reserve [Roll Forward]
Beginning balance	2,353	2,422
Costs Recognized	488	4,894
Cash Payments	(2,101)	(3,731)
Non-cash charges	0
Ending balance	740	3,585
Facility-related
Restructuring Reserve [Roll Forward]
Beginning balance	0
Costs Recognized	182
Cash Payments	(182)
Non-cash charges	0
Ending balance	0
Other
Restructuring Reserve [Roll Forward]
Beginning balance	6	0
Costs Recognized	562	532
Cash Payments	(456)	(470)
Non-cash charges	67
Ending balance	$ 179	$ 62

Acquisitions and Restructurin_5

Acquisitions and Restructuring - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Jun. 26, 2024	Dec. 31, 2023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill	$ 953,175		$ 935,013
ChlorKing
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents	4,032	$ 3,898
Measurement Period Adjustments, Cash and cash equivalents	134
Receivables	2,971	3,701
Measurement Period Adjustments, Receivables	(730)
Inventory	9,560	8,978
Measurement Period Adjustments, Inventory	582
Prepaid expenses and other current assets	1,099	269
Measurement Period Adjustments, Prepaid expenses and other current assets	830
Property, plant and equipment	37	37
Measurement Period Adjustments, Property, plant and equipment	0
Other assets	2,565	2,565
Measurement Period Adjustments, Other assets	0
Net Investment in Lease	7,316	1,867
Measurement Period Adjustments, Net Investment in Lease	5,449
Intangible assets	28,475	31,550
Measurement Period Adjustments, Intangible assets	(3,075)
Accounts payable and accrued liabilities	(7,348)	(4,302)
Measurement Period Adjustments, Accounts payable and accrued liabilities	(3,046)
Deferred tax liabilities	(1,810)	0
Measurement Period Adjustments, Deferred tax liabilities	(1,810)
Total identifiable net assets acquired	46,897	48,563
Measurement Period Adjustments, Total identifiable net assets acquired	(1,666)
Goodwill	18,771	17,835
Measurement Period Adjustments, Goodwill	936
Preliminary purchase price	65,668	$ 66,398
Measurement Period Adjustments, Preliminary purchase price	$ (730)

Acquisitions and Restructurin_6

Acquisitions and Restructuring - Acquired Intangible Assets (Details) - ChlorKing $ in Thousands	Jun. 26, 2024 USD ($)
Business Acquisition [Line Items]
Estimated Amounts	$ 28,475
Tradename
Business Acquisition [Line Items]
Estimated Useful Lives	15 years
Estimated Amounts	$ 2,600
Customer relationships
Business Acquisition [Line Items]
Estimated Useful Lives	15 years
Estimated Amounts	$ 21,200
Developed technology
Business Acquisition [Line Items]
Estimated Useful Lives	10 years
Estimated Amounts	$ 4,600
Noncompete agreements
Business Acquisition [Line Items]
Estimated Useful Lives	5 years
Estimated Amounts	$ 75