Vontier Corp
For the period ended Jun 27, 2025. Filed Jul 31, 2025.
View on SEC.govAbout this filing
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.
Jun 27, 2025 · Filed Jul 31, 2025
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 2025-03-28; filed 2025-05-01.
0001786842-25-000028
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-27; filed 2025-07-31.
0001786842-25-000065
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 153 current paragraphs.
109 unchanged; 26 reworded; 15 added; 2 removed; 0 previous and 3 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 (15)
Current report
On July 4, 2025, the One Big Beautiful Bill (“OBBB”) was signed into law. The OBBB includes several changes to corporate taxation, notably modifications to capitalization of research and development expenses and accelerated depreciation of fixed assets. While we are currently assessing the potential effects of the provisions within the OBBB, we currently expect a reduction in cash tax payments for the year ended December 31, 2025 due to the utilization of deferred tax assets related to previously capitalized research and development expenses that can now be deducted under the OBBB.
Current report
Total sales and core sales within our Repair Solutions segment decreased 8.8% and 8.7%, respectively, during the six months ended June 27, 2025, as compared to the comparable period in 2024, due to a decrease in the hardline, tool storage and power tools product categories driven by macroeconomic impacts on service technicians’ discretionary spending.
Current report
Total sales within our Environmental & Fueling Solutions segment increased 16.2% during the three months ended June 27, 2025, as compared to the comparable period in 2024, driven by a 15.7% increase in core sales and a 0.5% increase due to the impact of currency translation. The increase in core sales was due to growth in dispenser systems and environmental solutions.
Current report
Cost of sales, excluding amortization of acquisition-related intangible assets, increased $49.3 million, or 6.6%, for the six months ended June 27, 2025, as compared to the comparable period in 2024, and as a percentage of sales, increased 110 basis points during the same period, due to core sales growth in the Environmental & Fueling Solutions and Mobility Technologies segments as discussed above.
Current report
SG&A expenses increased $11.0 million, or 7.0%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, and as a percentage of sales, decreased 80 basis points during the same period, due to a $4.9 million increase in variable compensation expense, a $2.1 million increase in expense from asbestos reserve related adjustments and a $1.5 million increase in sales and marketing expenses related to core sales growth between periods.
Current report
SG&A expenses increased $5.9 million, or 1.8%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, and as a percentage of sales, decreased 60 basis points during the same period, due to $6.6 million of asset impairments recognized during the six months ended June 27, 2025.
Current report
R&D expenses increased $2.4 million, or 5.3%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, due to an increase in R&D in the Environmental & Fueling Solutions segment. R&D expenses as a percentage of sales decreased 40 basis points during the three months ended June 27, 2025, as compared to the comparable period in 2024.
Current report
Amortization of acquisition-related intangible assets decreased $1.2 million, or 3.0%, during the six months ended June 27, 2025, as compared to the comparable period in 2024 and as a percentage of sales, decreased 20 basis points during the same periods.
Current report
Operating profit increased $10.3 million, or 4.0%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, and operating profit margins were flat during the same period.
Current report
Segment operating profit for our Mobility Technologies segment increased $12.3 million, or 29.9%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin increased 180 basis points during the same period. The increase in segment operating profit margin was due to an increase in volume, as further discussed above, and productivity initiatives.
Current report
Segment operating profit for our Mobility Technologies segment increased $16.6 million, or 18.7%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin increased 60 basis points during the same period. The increase in segment operating profit margin was due to an increase in volume, as further discussed above, and productivity initiatives.
Current report
Segment operating profit for our Environmental & Fueling Solutions segment increased $16.4 million, or 18.4%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin increased 50 basis points during the same period. The increase in segment operating profit margin was due to an increase in volume, as further discussed above, and productivity initiatives.
Current report
Segment operating profit for our Environmental & Fueling Solutions segment increased $16.6 million, or 8.9%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin increased 30 basis points during the same period. The increase in segment operating profit margin was due to an increase in volume, as further discussed above, price-cost benefits and productivity initiatives.
Current report
Corporate & other unallocated costs increased $5.7 million, or 11.8%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, due to a $4.8 million increase in corporate costs from a $2.2 million increase in variable compensation expense and a $2.1 million increase in expense from asbestos reserve related adjustments. Corporate & other unallocated costs as a percentage of total sales were flat during the three months ended June 27, 2025, as compared to the comparable period in 2024.
Current report
Refer to Note 2. Acquisitions to the Consolidated Condensed Financial Statements for additional information on our acquisition of Sergeant Sudz.
Removed paragraphs (2)
Previous report
SG&A expenses decreased $5.1 million, or 3.1%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, and as a percentage of sales, decreased 30 basis points during the same period, due to savings from focus prioritization process (“FPP”) initiatives, restructuring activities and other cost optimization.
Previous report
Segment operating profit for our Environmental & Fueling Solutions segment increased $0.2 million, or 0.2%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, and segment operating profit margin increased 20 basis points during the same period. The increase in segment operating profit margin was due to cost optimization.
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, 2024 (the “2024 Annual Report on Form 10-K”) and our Consolidated Condensed Financial Statements as of and for the three months ended March 28, 2025 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, 2024 (the “2024 Annual Report on Form 10-K”) and our Consolidated Condensed Financial Statements as of and for the three and six months ended June 27, 2025 included in this Form 10-Q.
Previous wording
During April 2025, the United States announced a new baseline tariff of 10%, plus an additional country-specific tariff, on all imports into the United States. In response, certain countries announced reciprocal tariffs on imports from the United States. While certain of these tariffs have been temporarily paused, the United States and China have maintained reciprocal tariffs on imports between the respective countries. We import inventory into the United States from a number of countries, and as such, if tariffs remain in effect for a prolonged period of time, we expect our cost 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 from high-tariff countries such as China. In addition, certain of our products manufactured in the United States are exported internationally and are subject to reciprocal tariffs. 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, it would have a material impact on our business, financial condition and results of operations.
Current wording
During April 2025, the United States announced a new baseline tariff of 10%, plus an additional country-specific tariff, on all imports into the United States. In response, certain countries announced reciprocal tariffs on imports from the United States. While the United States has reached trade agreements with certain countries, tariffs on imports from other countries and other reciprocal tariffs either remain in effect or have been temporarily paused, and as such, significant uncertainty around future tariff policies remains. We import inventory into the United States from a number of countries, and as such, if tariffs remain in effect for a prolonged period of time, we expect our cost 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 from high-tariff countries. In addition, certain of our products manufactured in the United States are exported internationally and are subject to reciprocal tariffs. 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, it would have a material impact on our business, financial condition and results of operations.
Previous wording
(a) Includes $12.2 million and $1.6 million of intersegment sales for three months ended March 28, 2025 and March 29, 2024, respectively, that are eliminated in consolidation.
Current wording
(a) Includes $19.1 million, $3.2 million, $31.3 million and $4.8 million of intersegment sales for three and six months ended June 27, 2025 and June 28, 2024, respectively, that are eliminated in consolidation.
Previous wording
Total sales within our Mobility Technologies segment increased 11.5% during the three months ended March 28, 2025, as compared to the comparable period in 2024, driven by a 12.7% increase in core sales, partially offset by a 1.2% decrease due to the impact of currency translation. The increase in core sales was due to solid demand for our convenience retail payment and enterprise productivity solutions, partially offset by lower demand for our car wash solutions.
Current wording
Total sales within our Mobility Technologies segment increased 14.7% during the six months ended June 27, 2025, as compared to the comparable period in 2024, driven by a 15.2% increase in core sales, partially offset by a 0.5% decrease due to the impact of currency translation. The increase in core sales was due to solid demand for our convenience retail payment and enterprise productivity solutions, partially offset by lower demand for our car wash solutions.
Previous wording
Total sales and core sales within our Repair Solutions segment decreased 16.1% and 15.9%, respectively, during the three months ended March 28, 2025, as compared to the comparable period in 2024, due to a decrease in volume from a shift in the timing of the annual Matco Expo event, which was held during the first fiscal quarter of 2024, but will be held during the second fiscal quarter of 2025, and macroeconomic impacts on service technicians’ discretionary spending.
Current wording
Total sales and core sales within our Repair Solutions segment were flat during the three months ended June 27, 2025, as compared to the comparable period in 2024, due to an increase in volume from a shift in the timing of the annual Matco Expo event, which was held during the first fiscal quarter of 2024, but was held during the second fiscal quarter of 2025, offset by a decrease in volume from macroeconomic impacts on service technicians’ discretionary spending.
Previous wording
Total sales within our Environmental & Fueling Solutions segment decreased 0.4% during the three months ended March 28, 2025, as compared to the comparable period in 2024, driven by a 0.9% increase in core sales, offset by a 1.3% decrease due to the impact of currency translation. The increase in core sales was due to growth in environmental solutions and service sales.
Current wording
Total sales within our Environmental & Fueling Solutions segment increased 7.7% during the six months ended June 27, 2025, as compared to the comparable period in 2024, driven by a 8.1% increase in core sales, partially offset by a 0.4% decrease due to the impact of currency translation. The increase in core sales was due to growth in environmental solutions and dispenser systems.
Previous wording
Cost of sales, excluding amortization of acquisition-related intangible assets, increased $7.1 million, or 1.8%, for the three months ended March 28, 2025, as compared to the comparable period in 2024, and as a percentage of sales, increased 190 basis points during the same period, due to a $29.9 million increase in the Mobility Technologies segment from core sales growth as discussed above, partially offset by a $13.2 million decrease in the Repair Solutions segment due to a shift in the timing of the annual Matco Expo event.
Current wording
Cost of sales, excluding amortization of acquisition-related intangible assets, increased $42.2 million, or 11.7%, for the three months ended June 27, 2025, as compared to the comparable period in 2024, and as a percentage of sales, increased 30 basis points during the same period, due to core sales growth in the Environmental & Fueling Solutions and Mobility Technologies segments as discussed above.
Previous wording
R&D expenses decreased $4.3 million, or 9.7%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, due to savings from FPP initiatives. R&D expenses as a percentage of sales decreased 50 basis points during the three months ended March 28, 2025, as compared to the comparable period in 2024.
Current wording
R&D expenses decreased $1.9 million, or 2.1%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, due to savings from focus prioritization process initiatives. R&D expenses as a percentage of sales decreased 40 basis points during the six months ended June 27, 2025, as compared to the comparable period in 2024.
Previous wording
Amortization of acquisition-related intangible assets decreased $0.4 million, or 2.0%, during the three months ended March 28, 2025, as compared to the comparable period in 2024 and as a percentage of sales, was flat during the same periods.
Current wording
Amortization of acquisition-related intangible assets decreased $0.8 million, or 4.0%, during the three months ended June 27, 2025, as compared to the comparable period in 2024 and as a percentage of sales, decreased 40 basis points during the same periods.
Previous wording
Operating profit decreased $12.0 million, or 8.4%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, and operating profit margins decreased 120 basis points during the same period.
Current wording
Operating profit increased $22.3 million, or 19.5%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, and operating profit margins increased 120 basis points during the same period.
Previous wording
Segment operating profit for our Mobility Technologies segment increased $4.3 million, or 9.0%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, and segment operating profit margin decreased 40 basis points during the same period. The decrease in segment operating profit margin was due to unfavorable mix and a one-time settlement of $0.7 million.
Current wording
Segment operating profit for our Repair Solutions segment decreased $0.7 million, or 2.2%, during the three months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin decreased 50 basis points during the same period. The decrease in segment operating profit margin was due to unfavorable product mix.
Previous wording
Segment operating profit for our Repair Solutions segment decreased $11.5 million, or 25.7%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, and segment operating profit margin decreased 280 basis points during the same period. The decrease in segment operating profit margin was due to a decrease in volume, as further discussed above, and unfavorable product mix.
Current wording
Segment operating profit for our Repair Solutions segment decreased $12.2 million, or 15.9%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, and segment operating profit margin decreased 170 basis points during the same period. The decrease in segment operating profit margin was due to a decrease in volume, as further discussed above, and unfavorable product mix.
Previous wording
Corporate & other unallocated costs increased $5.4 million, or 11.5%, during the three months ended March 28, 2025, as compared to the comparable period in 2024, due to a $9.2 million increase in other unallocated expense from $6.6 million of asset impairments recognized during the three months ended March 28, 2025. The increase in other unallocated expense was partially offset by a $2.0 million decrease in stock-based compensation expense and a $1.0 million decrease in corporate costs from savings from restructuring activities and other cost optimization. Corporate & other unallocated costs as a percentage of total sales increased 90 basis points during the three months ended March 28, 2025, as compared to the comparable period in 2024.
Current wording
Corporate & other unallocated costs increased $11.1 million, or 11.6%, during the six months ended June 27, 2025, as compared to the comparable period in 2024, due to a $9.3 million increase in other unallocated expense from $6.6 million of asset impairments recognized during the six months ended June 27, 2025. Corporate & other unallocated costs as a percentage of total sales increased 40 basis points during the six months ended June 27, 2025, as compared to the comparable period in 2024.
Previous wording
Interest expense, net was $15.1 million during the three months ended March 28, 2025, as compared to $18.9 million for the comparable period in 2024, a decrease of $3.8 million, driven by a decrease in our outstanding debt obligations and an increase in interest income between periods.
Current wording
Interest expense, net was $15.6 million during the three months ended June 27, 2025, as compared to $18.4 million for the comparable period in 2024, a decrease of $2.8 million, driven by a decrease in our outstanding debt obligations, a decrease in variable interest rates on certain of our outstanding debt obligations and an increase in interest income between periods.
Previous wording
Our effective tax rate for the three months ended March 28, 2025 was 20.9% as compared to 16.0% for the three months ended March 29, 2024. The increase in the effective tax rate for the three months ended March 28, 2025 as compared to the comparable period in the prior year was due to favorable impacts related to business reorganizations and divestitures during the three months ended March 29, 2024.
Current wording
Our effective tax rate for the three and six months ended June 27, 2025 was 23.9% and 22.4%, respectively, as compared to 23.8% and 18.8% for the three and six months ended June 28, 2024. The increase in the effective tax rate for the three months ended June 27, 2025 as compared to the comparable period in the prior year was primarily due to an increase in foreign earnings taxed at higher rates than the U.S. federal statutory rate. The increase in the effective tax rate for the six months ended June 27, 2025 as compared to the prior year was primarily due to the favorable impacts related to business reorganizations and divestitures during the six months ended June 28, 2024.
Previous wording
Comprehensive income decreased by $11.7 million during the three months ended March 28, 2025, as compared to the comparable period in 2024. Comprehensive income for the three months ended March 28, 2025 includes favorable foreign currency translation adjustments of $15.0 million while comprehensive income for the three months ended March 29, 2024 includes a gain on the sale of the Company’s Coats business of $39.8 million and unfavorable currency translation adjustments of $22.3 million.
Current wording
Comprehensive income increased by $81.6 million during the three months ended June 27, 2025, as compared to the comparable period in 2024. Comprehensive income for the three months ended June 27, 2025 includes favorable foreign currency translation adjustments of $55.0 million while comprehensive income for the three months ended June 28, 2024 includes unfavorable foreign currency translation adjustments of $4.7 million and a loss on the sale of the Company’s Coats business of $2.6 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 March 28, 2025, we held $333.6 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 March 28, 2025, 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 June 27, 2025, we held $364.2 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 June 27, 2025, we believe that we have sufficient liquidity to satisfy our cash needs.
Previous wording
During the three months ended March 28, 2025, we completed the following financing and capital transactions:
Current wording
During the six months ended June 27, 2025, we completed the following financing and capital transactions:
Previous wording
•Repurchased 1.5 million shares for $55.0 million in the open market.
Current wording
•Repurchased 2.9 million shares for $105.1 million in the open market.
Previous wording
Cash flows from operating activities were $110.4 million during the three months ended March 28, 2025, an increase of $18.9 million, as compared to the comparable period in 2024. The year-over-year change in operating cash flows was primarily attributable to the following factors:
Current wording
Cash flows from operating activities were $210.4 million during the six months ended June 27, 2025, an increase of $72.8 million, as compared to the comparable period in 2024. 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 generated $3.3 million of operating cash flows during the three months ended March 28, 2025 compared to using $28.2 million in the comparable period of 2024. 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 generated $17.5 million of operating cash flows during the six months ended June 27, 2025 compared to using $15.5 million in the comparable period of 2024. 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 $26.1 million during the three months ended March 28, 2025 compared to using $11.8 million in the comparable period of 2024. 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 $69.4 million during the six months ended June 27, 2025 compared to using $91.4 million in the comparable period of 2024. 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 $17.7 million during the three months ended March 28, 2025, driven by payments for additions to property, plant and equipment. Net cash provided by investing activities was $51.0 million during the three months ended March 29, 2024, driven by proceeds from the sale of our Coats business, partially offset by payments for additions to property, plant and equipment.
Current wording
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. Net cash provided by investing activities was $23.9 million during the six months ended June 28, 2024, driven by proceeds from the sale of our Coats business, partially offset by payments for additions to property, plant and equipment.
Previous wording
We made capital expenditures of $17.7 million and $20.2 million during the three months ended March 28, 2025 and March 29, 2024, respectively.
Current wording
We made capital expenditures of $34.4 million and $44.0 million during the six months ended June 27, 2025 and June 28, 2024, respectively.
Previous wording
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. Net cash used in financing activities was $74.4 million during the three months ended March 29, 2024, driven by the voluntary repayment of $50.0 million of the Three-Year Term Loans due 2024 and repurchases of the Company’s common stock of $21.6 million.
Current wording
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. Net cash used in financing activities was $167.5 million during the six months ended June 28, 2024, driven by the voluntary repayment of $100.0 million of the Three-Year Term Loans due 2024 and repurchases of the Company’s common stock of $59.7 million.
Previous wording
We paid regular quarterly cash dividends of $0.025 per share during the three months ended March 28, 2025. 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 June 27, 2025. 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 (3)
Current report — wording carried from elsewhere
Total sales within our Mobility Technologies segment increased 17.9% during the three months ended June 27, 2025, as compared to the comparable period in 2024, driven by a 17.8% increase in core sales. The increase in core sales was due to solid demand for our convenience retail payment and enterprise productivity solutions, partially offset by lower demand for our car wash solutions.
Current report — wording carried from elsewhere
Interest expense, net was $30.7 million during the six months ended June 27, 2025, as compared to $37.3 million for the comparable period in 2024, a decrease of $6.6 million, driven by a decrease in our outstanding debt obligations, a decrease in variable interest rates on certain of our outstanding debt obligations and an increase in interest income between periods.
Current report — wording carried from elsewhere
Comprehensive income increased by $69.9 million during the six months ended June 27, 2025, as compared to the comparable period in 2024. Comprehensive income for the six months ended June 27, 2025 includes favorable foreign currency translation adjustments of $70.0 million while comprehensive income for the six months ended June 28, 2024 includes a gain on the sale of the Company’s Coats business of $37.2 million and unfavorable foreign currency translation adjustments of $27.0 million.