Vontier Corp
For the period ended Jul 3, 2026. Filed Aug 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 3, 2026 · Filed Aug 6, 2026
VNT$42.23+5.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-04-03; filed 2026-05-07.
0001628280-26-031945
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-07-03; filed 2026-08-06.
0001628280-26-054180
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 137 previous paragraphs and 151 current paragraphs.
107 unchanged; 26 reworded; 16 added; 4 removed; 0 previous and 2 current paragraphs rearranged.
Tables are not compared: 11 previous and 11 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (16)
Current report
Total sales within our Mobility Technologies segment decreased 3.4% during the six months ended July 3, 2026 as compared to the comparable period in 2025, driven by a 3.1% decrease in core sales and a 1.7% decrease due to the impact of recently exited businesses and product lines, partially offset by a 1.4% increase due to the impact of currency translation. The decrease in core sales was due to the timing of revenue recognition related to certain projects during the six months ended June 27, 2025, partially offset by growth in our convenience retail payment and enterprise productivity solutions.
Current report
Total sales and core sales within our Repair Solutions segment decreased 0.7% during the six months ended July 3, 2026, as compared to the comparable period in 2025 due to macroeconomic impacts on service technicians’ discretionary spending on higher-cost products.
Current report
Cost of sales, excluding amortization of acquisition-related intangible assets, decreased $11.4 million, or 2.8%, for the three months ended July 3, 2026, as compared to the comparable period in 2025, due to an approximately $12.0 million benefit related to the refund of tariffs related to inventory sold in the prior year. Cost of sales, excluding amortization of acquisition-related intangible assets, as a percentage of sales decreased 30 basis points during the same period.
Current report
Cost of sales, excluding amortization of acquisition-related intangible assets, decreased $4.0 million, or 0.5%, for the six months ended July 3, 2026, as compared to the comparable period in 2025, due to an approximately $12.0 million benefit related to the refund of tariffs related to inventory sold in the prior year, partially offset by increased costs from inflationary pressures. Cost of sales, excluding amortization of acquisition-related intangible assets, as a percentage of sales was flat during the same period.
Current report
SG&A expenses increased $0.3 million, or 0.2%, during the three months ended July 3, 2026, as compared to the comparable period in 2025. SG&A expenses as a percentage of sales increased 50 basis points during the same period.
Current report
SG&A expenses decreased $1.0 million, or 0.3%, during the six months ended July 3, 2026, as compared to the comparable period in 2025 due to productivity and cost savings initiatives, partially offset by an approximately $2.0 million increase in variable compensation from the tariff refund benefit further discussed above. SG&A expenses as a percentage of sales increased 10 basis points during the same period.
Current report
R&D expenses decreased $12.4 million, or 26.1%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, due to productivity and cost savings initiatives. R&D expenses as a percentage of sales decreased 150 basis points during the three months ended July 3, 2026, as compared to the comparable period in 2025.
Current report
R&D expenses decreased $11.2 million, or 12.8%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, due to productivity and cost savings initiatives. R&D expenses as a percentage of sales decreased 70 basis points during the six months ended July 3, 2026, as compared to the comparable period in 2025.
Current report
Amortization of acquisition-related intangible assets decreased $6.1 million, or 15.7%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, due to certain intangible assets becoming fully amortized between periods. Amortization of acquisition-related intangible assets as a percentage of sales decreased 40 basis points during the same periods.
Current report
Operating profit increased $15.0 million, or 5.6%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, and operating profit margins increased 110 basis points during the same period.
Current report
Segment operating profit for our Environmental & Fueling Solutions segment increased $9.9 million, or 9.4%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin increased 240 basis points during the same period. The increase in segment operating profit margin was driven by the benefit from the refund of tariffs related to inventory sold in the prior year.
Current report
Segment operating profit for our Environmental & Fueling Solutions segment increased $14.3 million, or 7.0%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin increased 120 basis points during the same period. The increase in segment operating profit margin was driven by the benefit from the refund of tariffs related to inventory sold in the prior year.
Current report
Segment operating profit for our Mobility Technologies segment increased $1.8 million, or 3.4%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin increased 190 basis points during the same period. The increase in segment operating profit margin was due to a decrease in R&D expenses from productivity and cost savings initiatives.
Current report
Segment operating profit for our Repair Solutions segment decreased $5.9 million, or 9.1%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin decreased 180 basis points during the same period. The decrease in segment operating profit margin was due to unfavorable price-cost and product mix.
Current report
Corporate & other unallocated costs decreased $12.0 million, or 11.2%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, due to a $11.9 million decrease in other unallocated expense from $6.6 million of asset impairments recognized during the six months ended June 27, 2025 and a $6.1 million decrease in amortization of acquisition-related intangible assets from certain intangible assets becoming fully amortized between periods, partially offset by a $4.5 million increase in expense from asbestos reserve related adjustments and an increase in restructuring and other related charges of $2.4 million from certain restructuring activities during the period. Corporate & other unallocated costs as a percentage of total sales decreased 70 basis points during the six months ended July 3, 2026, as compared to the comparable period in 2025.
Current report
Interest expense, net was $30.3 million during the six months ended July 3, 2026, as compared to $30.7 million for the comparable period in 2025, a decrease of $0.4 million.
Removed paragraphs (4)
Previous report
Cost of sales, excluding amortization of acquisition-related intangible assets, increased $7.4 million, or 1.9%, for the three months ended April 3, 2026, as compared to the comparable period in 2025, consistent with our consolidated sales growth. Cost of sales, excluding amortization of acquisition-related intangible assets, as a percentage of sales increased 40 basis points during the same period.
Previous report
SG&A expenses decreased $1.3 million, or 0.8%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, due to $6.6 million of asset impairments recognized during the three months ended March 28, 2025, partially offset by increased costs from inflationary pressures. SG&A expenses as a percentage of sales decreased 40 basis points during the same period.
Previous report
R&D expenses increased $1.2 million, or 3.0%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, due to growth investments in the Mobility Technologies segment. R&D expenses as a percentage of sales increased 10 basis points during the three months ended April 3, 2026, as compared to the comparable period in 2025.
Previous report
Segment operating profit for our Environmental & Fueling Solutions segment increased $4.4 million, or 4.5%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin was flat during the same period.
Reworded paragraphs (26)
Previous wording
This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is designed to provide a reader of our financial statements with a narrative from the perspective of management and is intended to help the reader understand the results of operations and financial condition of the Company. Our MD&A should be read in conjunction with our MD&A and Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”) and our Consolidated Condensed Financial Statements as of and for the three months ended April 3, 2026 included in this Form 10-Q.
Current wording
This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is designed to provide a reader of our financial statements with a narrative from the perspective of management and is intended to help the reader understand the results of operations and financial condition of the Company. Our MD&A should be read in conjunction with our MD&A and Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”) and our Consolidated Condensed Financial Statements as of and for the three and six months ended July 3, 2026 included in this Form 10-Q.
Previous wording
Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Forward-looking statements speak only as of the date of the report, document, press release, webcast, call, materials or other communication in which they are made. Important factors that could cause actual results to differ materially from those envisaged in the forward-looking statements include the following:
Current wording
Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Important factors that could cause actual results to differ materially from those envisaged in the forward-looking statements include the following:
Previous wording
We operate through three reportable segments which align to our three operating segments: (i) Environmental & Fueling Solutions, which provides environmental and fueling hardware and software, and aftermarket solutions for global fueling infrastructure; (ii) Mobility Technologies, which provides digitally enabled equipment and solutions to support efficient operations across the mobility ecosystem, including point-of-sale and payment systems, workflow automation solutions, telematics, data analytics, software platform for electric vehicle charging networks and integrated solutions for alternative fuel dispensing; and (iii) Repair Solutions, which manufactures and distributes aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment and software through a network of mobile franchisees.
Current wording
We operate through three reportable segments which align to our three operating segments: (i) Environmental & Fueling Solutions, which provides environmental and fueling hardware and software, and aftermarket solutions for global fueling infrastructure; (ii) Mobility Technologies, which provides digitally enabled equipment and solutions to support efficient operations across the mobility ecosystem, including point-of-sale and payment systems, workflow automation solutions, data analytics, software platform for electric vehicle charging networks and integrated solutions for alternative fuel dispensing; and (iii) Repair Solutions, which manufactures and distributes aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment and software through a network of mobile franchisees.
Previous wording
Since the second quarter of 2025, the United States has adopted a markedly enhanced and continually shifting tariff policy affecting imports into the U.S., including a baseline tariff against most imported goods in addition to certain country- and product-specific tariffs. In response, certain countries have announced retaliatory tariffs on their imports of U.S.-origin goods. Though the United States has reached trade agreements with certain countries and the U.S. Supreme Court has struck down the legal basis for some of the implemented tariffs, significant uncertainty around future tariff policies remains. The United States is conducting investigations that could result in higher tariffs. We import inventory into the United States from a number of countries, and as such, if U.S. tariffs are reimposed under other authorities and/or remain in effect for a prolonged period of time, we expect costs to import inventory into the United States to increase. We continue to diversify our supply chain to reduce our exposure to tariffs on imports into the United States, particularly on products from countries that are currently subject to high tariffs. In addition, certain of our products that are manufactured in the United States are exported internationally and are subject to retaliatory tariffs in the countries of import. If we are unable to effectively mitigate the financial impact of tariffs, or if tariffs lead to other impacts, including but not limited to a decrease in demand for our products or an increase in our costs, it could have a material impact on our business, financial condition and results of operations.
Current wording
Since the second quarter of 2025, the United States has adopted a markedly enhanced and continually shifting tariff policy affecting imports into the U.S., including a baseline tariff against most imported goods in addition to certain country- and product-specific tariffs. In response, certain countries have announced retaliatory tariffs on their imports of U.S.-origin goods. Though the United States has reached trade agreements with certain countries and the U.S. Supreme Court has struck down the legal basis for some of the implemented tariffs, the U.S. President has imposed new tariffs to replace the invalidated tariffs and continues to implement historically elevated tariffs affecting certain types of imports and certain countries of origin. Many of these tariffs are subject to current legal challenges, while others may be vulnerable to new, near-term legal challenges. Accordingly, significant uncertainty around future tariff policies remains. The United States is conducting investigations regarding certain products that could result in higher tariffs. We import inventory into the United States from a number of countries, and we expect costs to import inventory into the United States to increase. We continue to diversify our supply chain to reduce our exposure to tariffs on imports into the United States, particularly on products from countries that are currently subject to comparatively high tariffs. In addition, certain of our products that are manufactured in the United States are exported internationally and are subject to retaliatory tariffs in the countries of import. If we are unable to effectively mitigate the financial impact of tariffs, or if tariffs lead to other impacts, including but not limited to a decrease in demand for our products or an increase in our costs, it could have a material impact on our business, financial condition or results of operations.
Previous wording
(a) Includes $16.4 million and $12.2 million of intersegment sales for three months ended April 3, 2026 and March 28, 2025, respectively, that are eliminated in consolidation.
Current wording
(a) Includes $21.2 million, $19.1 million, $37.6 million, and $31.3 million of intersegment sales for the three and six months ended July 3, 2026 and June 27, 2025, respectively, that are eliminated in consolidation.
Previous wording
Total sales within our Environmental & Fueling Solutions segment increased 4.5% during the three months ended April 3, 2026, as compared to the comparable period in 2025, driven by a 6.1% increase in core sales and a 1.9% increase due to the impact of currency translation, partially offset by a 3.5% decrease due to the impact of recently exited businesses and product lines. The increase in core sales was due to growth in dispenser systems and aftermarket products.
Current wording
Total sales within our Environmental & Fueling Solutions segment increased 1.3% during the three months ended July 3, 2026, as compared to the comparable period in 2025, driven by a 4.6% increase in core sales and a 0.4% increase due to the impact of currency translation, partially offset by a 3.7% decrease due to the impact of recently exited businesses and product lines. The increase in core sales was due to growth in dispenser systems and aftermarket products.
Previous wording
Total sales within our Mobility Technologies segment decreased 0.4% during the three months ended April 3, 2026, as compared to the comparable period in 2025, driven by a 1.5% decrease due to the impact of recently exited businesses and product lines and a 1.2% decrease in core sales, partially offset by a 2.3% increase due to the impact of currency translation. The decrease in core sales was due to the timing of revenue recognition related to certain projects during the three months ended March 28, 2025.
Current wording
Total sales within our Mobility Technologies segment decreased 6.2% during the three months ended July 3, 2026, as compared to the comparable period in 2025, driven by a 4.9% decrease in core sales and a 2.0% decrease due to the impact of recently exited businesses and product lines, partially offset by a 0.7% increase due to the impact of currency translation. The decrease in core sales was due to the timing of revenue recognition related to certain projects during the three months ended June 27, 2025, partially offset by growth in our convenience retail payment and enterprise productivity solutions.
Previous wording
Total sales and core sales within our Repair Solutions segment decreased 0.1% during the three months ended April 3, 2026, as compared to the comparable period in 2025.
Current wording
Total sales and core sales within our Repair Solutions segment decreased 1.3% during the three months ended July 3, 2026, as compared to the comparable period in 2025 due to macroeconomic impacts on service technicians’ discretionary spending on higher-cost products.
Previous wording
Amortization of acquisition-related intangible assets decreased $2.5 million, or 12.8%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, due to certain intangible assets becoming fully amortized between periods. Amortization of acquisition-related intangible assets as a percentage of sales decreased 30 basis points during the same periods.
Current wording
Amortization of acquisition-related intangible assets decreased $3.6 million, or 18.8%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, due to certain intangible assets becoming fully amortized between periods. Amortization of acquisition-related intangible assets as a percentage of sales decreased 40 basis points during the same periods.
Previous wording
Operating profit increased $4.7 million, or 3.6%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, and operating profit margins increased 40 basis points during the same period.
Current wording
Operating profit increased $10.3 million, or 7.6%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, and operating profit margins increased 180 basis points during the same period.
Previous wording
Segment operating profit for our Mobility Technologies segment decreased $7.2 million, or 13.9%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin decreased 260 basis points during the same period. The decrease in segment operating profit margin was due to product mix and a $2.0 million increase in R&D expenses supporting new product launches.
Current wording
Segment operating profit for our Mobility Technologies segment decreased $5.4 million, or 5.1%, during the six months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin decreased 30 basis points during the same period. The decrease in segment operating profit margin was due to product mix, partially offset by a decrease in R&D expenses from productivity and cost savings initiatives.
Previous wording
Segment operating profit for our Repair Solutions segment decreased $2.8 million, or 8.4%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin decreased 180 basis points during the same period. The decrease in segment operating profit margin was due to product mix and a $0.7 million increase in reserve-related adjustments to the receivables portfolio.
Current wording
Segment operating profit for our Repair Solutions segment decreased $3.1 million, or 9.9%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, and segment operating profit margin decreased 180 basis points during the same period. The decrease in segment operating profit margin was due to unfavorable price-cost and product mix.
Previous wording
Corporate & other unallocated costs decreased $10.3 million, or 19.6%, during the three months ended April 3, 2026, as compared to the comparable period in 2025, due to a $9.2 million decrease in other unallocated expense from $6.6 million of asset impairments recognized during the three months ended March 28, 2025 and a $2.5 million decrease in amortization of acquisition-related intangible assets from certain intangible assets becoming fully amortized between periods. Corporate & other unallocated costs as a percentage of total sales decreased 150 basis points during the three months ended April 3, 2026, as compared to the comparable period in 2025.
Current wording
Corporate & other unallocated costs decreased $1.7 million, or 3.1%, during the three months ended July 3, 2026, as compared to the comparable period in 2025, due to savings from focus and prioritization process initiatives and a $3.6 million decrease in amortization of acquisition-related intangible assets from certain intangible assets becoming fully amortized between periods, partially offset by a $3.6 million increase in expense from asbestos reserve related adjustments. Corporate & other unallocated costs as a percentage of total sales decreased 10 basis points during the three months ended July 3, 2026, as compared to the comparable period in 2025.
Previous wording
Interest expense, net was $13.7 million during the three months ended April 3, 2026, as compared to $15.1 million for the comparable period in 2025, a decrease of $1.4 million, driven by a decrease in variable interest rates on certain of our outstanding debt obligations and an increase in interest income between periods.
Current wording
Interest expense, net was $16.6 million during the three months ended July 3, 2026, as compared to $15.6 million for the comparable period in 2025, an increase of $1.0 million, driven by an increase in interest rates between periods.
Previous wording
Our effective tax rate for the three months ended April 3, 2026 was 22.1% as compared to 20.9% for the three months ended March 28, 2025. The increase in the effective tax rate for the three months ended April 3, 2026 as compared to the comparable period in the prior year was primarily due to favorable tax impacts of a change in contingent consideration during the three months ended March 28, 2025.
Current wording
Our effective tax rate for the three and six months ended July 3, 2026 was 37.4% and 26.2% as compared to 23.9% and 22.4% for the three and six months ended June 27, 2025. The increase in the effective tax rate for the three and six months ended July 3, 2026 as compared to the comparable period in the prior year was primarily dueto unfavorable tax impacts related to business reorganizations and divestitures, state income taxes, and non-U.S. income taxed at different rates during the three and six months ended July 3, 2026.
Previous wording
Comprehensive income decreased by $13.9 million during the three months ended April 3, 2026, as compared to the comparable period in 2025. Comprehensive income for the three months ended April 3, 2026 includes unfavorable foreign currency translation adjustments of $4.8 million while comprehensive income for the three months ended March 28, 2025 includes favorable foreign currency translation adjustments of $15.0 million.
Current wording
Comprehensive income decreased by $87.2 million during the three months ended July 3, 2026, as compared to the comparable period in 2025. Comprehensive income for the three months ended July 3, 2026 includes a loss on the sale of our Teletrac Navman business of $86.2 million and favorable foreign currency translation adjustments of $32.2 million while comprehensive income for the three months ended June 27, 2025 includes favorable foreign currency translation adjustments of $55.0 million.
Previous wording
We assess our liquidity in terms of our ability to generate cash to fund our operating, investing and financing activities. As of April 3, 2026, we held $233.8 million of cash and cash equivalents and had $750.0 million of borrowing capacity under our revolving credit facility. We generate substantial cash from operating activities and believe that our operating cash flow and other sources of liquidity will be sufficient to allow us to continue to support working capital needs, capital expenditures, pay interest and service debt, pay taxes and any related interest or penalties, fund our restructuring activities and pension plans as required, invest in existing businesses, consummate strategic acquisitions, manage our capital structure on a short and long-term basis and support other business needs or objectives. We also have purchase obligations which consist of agreements to purchase goods or services that are enforceable and legally binding on us and that specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. As of April 3, 2026, we believe that we have sufficient liquidity to satisfy our cash needs.
Current wording
We assess our liquidity in terms of our ability to generate cash to fund our operating, investing and financing activities. As of July 3, 2026, we held $265.8 million of cash and cash equivalents and had $750.0 million of borrowing capacity under our revolving credit facility. We generate substantial cash from operating activities and believe that our operating cash flow and other sources of liquidity will be sufficient to allow us to continue to support working capital needs, capital expenditures, pay interest and service debt, pay taxes and any related interest or penalties, fund our restructuring activities and pension plans as required, invest in existing businesses, consummate strategic acquisitions, manage our capital structure on a short and long-term basis and support other business needs or objectives. We also have purchase obligations which consist of agreements to purchase goods or services that are enforceable and legally binding on us and that specify all significant terms, including fixed or minimum quantities to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. As of July 3, 2026, we believe that we have sufficient liquidity to satisfy our cash needs.
Previous wording
During the three months ended April 3, 2026, we completed the following financing and capital transactions:
Current wording
During the six months ended July 3, 2026, we completed the following financing and capital transactions:
Previous wording
•Repurchased 1.8 million shares for $70.0 million in the open market.
Current wording
•Repurchased 6.2 million shares for $200.0 million in the open market.
Previous wording
Cash flows from operating activities were $46.5 million during the three months ended April 3, 2026, a decrease of $63.9 million, as compared to the comparable period in 2025. The year-over-year change in operating cash flows was primarily attributable to the following factors:
Current wording
Cash flows from operating activities were $162.8 million during the six months ended July 3, 2026, a decrease of $47.6 million, as compared to the comparable period in 2025. The year-over-year change in operating cash flows was primarily attributable to the following factors:
Previous wording
•The aggregate of accounts receivable and long-term financing receivables used $7.3 million of operating cash flows during the three months ended April 3, 2026 compared to generating $3.3 million in the comparable period of 2025. The amount of cash flow generated from or used by accounts receivable depends upon how effectively we manage the cash conversion cycle and can be significantly impacted by the timing of collections in a period. Additionally, when we originate certain financing receivables, we assume the financing receivable by decreasing the franchisee’s trade accounts receivable. As a result, originations of certain financing receivables are non-cash transactions.
Current wording
•The aggregate of accounts receivable and long-term financing receivables used $52.2 million of operating cash flows during the six months ended July 3, 2026 compared to generating $17.5 million in the comparable period of 2025. The amount of cash flow generated from or used by accounts receivable depends upon how effectively we manage the cash conversion cycle and can be significantly impacted by the timing of collections in a period. Additionally, when we originate certain financing receivables, we assume the financing receivable by decreasing the franchisee’s trade accounts receivable. As a result, originations of certain financing receivables are non-cash transactions.
Previous wording
•The aggregate of other operating assets and liabilities used $84.8 million during the three months ended April 3, 2026 compared to using $26.1 million in the comparable period of 2025. This change is due primarily to working capital needs and the timing of accruals and payments and tax-related amounts.
Current wording
•The aggregate of other operating assets and liabilities used $73.3 million during the six months ended July 3, 2026 compared to using $69.4 million in the comparable period of 2025. This change is due primarily to working capital needs and the timing of accruals and payments and tax-related amounts.
Previous wording
Net cash used in investing activities was $21.0 million during the three months ended April 3, 2026, driven by payments for additions to property, plant and equipment. Net cash used in investing activities was $17.7 million during the three months ended March 28, 2025, driven by payments for additions to property, plant and equipment.
Current wording
Net cash provided by investing activities was $33.6 million during the six months ended July 3, 2026, driven by proceeds from the sale of our Teletrac Navman business, partially offset by payments for additions to property, plant and equipment. Net cash used in investing activities was $44.7 million during the six months ended June 27, 2025, driven by payments for additions to property, plant and equipment and cash paid for the acquisition of Sergeant Sudz.
Previous wording
We made capital expenditures of $21.7 million and $17.7 million during the three months ended April 3, 2026 and March 28, 2025, respectively.
Current wording
We made capital expenditures of $43.1 million and $34.4 million during the six months ended July 3, 2026 and June 27, 2025, respectively.
Previous wording
Net cash used in financing activities was $281.2 million during the three months ended April 3, 2026, driven by the net repayment of $200.0 million of debt and repurchases of the Company’s common stock of $70.0 million. Net cash used in financing activities was $119.7 million during the three months ended March 28, 2025, driven by the voluntary repayment of $50.0 million of the Three-Year Term Loans due 2025 and repurchases of the Company’s common stock of $55.0 million.
Current wording
Net cash used in financing activities was $418.9 million during the six months ended July 3, 2026, driven by the net repayment of$200.0 millionof debt and repurchases of the Company’s common stock of $200.0 million. Net cash used in financing activities was $174.6 million during the six months ended June 27, 2025, driven by repurchases of the Company’s common stock of $105.1 million and the voluntary repayment of $50.0 million of the Three-Year Term Loans due 2025.
Previous wording
We paid regular quarterly cash dividends of $0.025 per share during the three months ended April 3, 2026. The declaration of future cash dividends is at the discretion of our Board of Directors and will depend upon, among other things, our future earnings, cash flows, capital requirements, financial condition and general business conditions.
Current wording
We paid regular quarterly cash dividends of $0.025 per share during the six months ended July 3, 2026. The declaration of future cash dividends is at the discretion of our Board of Directors and will depend upon, among other things, our future earnings, cash flows, capital requirements, financial condition and general business conditions.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Total sales within our Environmental & Fueling Solutions segment increased 2.8% during the six months ended July 3, 2026, as compared to the comparable period in 2025, driven by a 5.3% increase in core sales and a 1.1% increase due to the impact of currency translation, partially offset by a 3.6% decrease due to the impact of recently exited businesses and product lines. The increase in core sales was due to growth in dispenser systems and aftermarket products.
Current report — wording carried from elsewhere
Comprehensive income decreased by $101.1 million during the six months ended July 3, 2026, as compared to the comparable period in 2025. Comprehensive income for the six months ended July 3, 2026 includes a loss on the sale of our Teletrac Navman business of $86.2 million and favorable foreign currency translation adjustments of $27.4 million while comprehensive income for the six months ended June 27, 2025 includes favorable foreign currency translation adjustments of $70.0 million.