$BDC

BELDEN INC.

CIK:0000913142|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Income Statement [Abstract]
Revenues	$ 750,157	$ 671,992	$ 1,446,532	$ 1,296,853
Cost of sales	(456,533)	(413,424)	(894,820)	(792,445)
Gross profit	293,624	258,568	551,712	504,408
Selling, general and administrative expenses	(147,827)	(131,922)	(286,479)	(263,444)
Research and development expenses	(31,714)	(33,940)	(61,803)	(62,357)
Amortization of intangibles	(14,823)	(13,470)	(26,211)	(26,745)
Operating income	99,260	79,236	177,219	151,862
Interest expense, net	(13,599)	(12,200)	(27,058)	(22,304)
Non-operating pension cost	(456)	(364)	(912)	(805)
Loss on debt extinguishment	0	0	(1,273)	0
Income before taxes	85,205	66,672	147,976	128,753
Income tax expense	(16,669)	(5,666)	(28,413)	(15,810)
Net income	$ 68,536	$ 61,006	$ 119,563	$ 112,943
Weighted average number of common shares and equivalents:
Basic (in shares)	38,957	39,511	38,887	39,835
Diluted (in shares)	39,283	40,002	39,338	40,418
Basic income per share (in usd per share)	$ 1.76	$ 1.54	$ 3.07	$ 2.84
Diluted income per share (in usd per share)	$ 1.74	$ 1.53	$ 3.04	$ 2.79
Comprehensive income	$ 93,067	$ 21,110	$ 145,583	$ 35,897
Common stock dividends declared per share (in usd per share)	$ 0.05	$ 0.05	$ 0.10	$ 0.10

CONDENSED CONSOLIDATED CASH FLOW STATEMENTS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Cash flows from operating activities:
Net income	$ 119,563	$ 112,943
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	68,551	61,851
Share-based compensation	18,203	14,603
Loss on debt extinguishment	1,273	0
Changes in operating assets and liabilities, net of the effects of currency exchange rate changes, acquired businesses and disposals:
Receivables	(76,348)	(31,773)
Inventories	(21,327)	(35,758)
Accounts payable	11,193	(23,462)
Accrued liabilities	(22,948)	(14,314)
Income taxes	4,627	(4,355)
Other assets	(3,283)	(3,674)
Other liabilities	11,054	13,409
Net cash provided by operating activities	110,558	89,470
Cash flows from investing activities:
Capital expenditures	(85,054)	(57,353)
Proceeds from disposal of tangible assets	8	115
Cash from business acquisitions	0	7,918
Net cash used for investing activities	(85,046)	(49,320)
Cash flows from financing activities:
Payments under borrowing arrangements	(535,860)	(50,000)
Payments under share repurchase program, including excise tax	(31,806)	(100,967)
Withholding tax payments for share-based payment awards	(18,532)	(14,157)
Debt issuance costs paid	(14,550)	0
Cash dividends paid	(3,921)	(4,024)
Payments under financing lease obligations	(990)	(878)
Proceeds from issuance of common stock	4,696	3,818
Borrowings under credit arrangements	537,255	50,000
Net cash used for financing activities	(63,708)	(116,208)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(3,036)	7,242
Decrease in cash and cash equivalents	(41,232)	(68,816)
Cash and cash equivalents, beginning of period	389,887	370,302
Cash and cash equivalents, end of period	$ 348,655	$ 301,486

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 348,655	$ 389,887
Receivables, net	534,159	462,845
Inventories, net	420,591	402,345
Other current assets	90,436	94,303
Total current assets	1,393,841	1,349,380
Property, plant and equipment, less accumulated depreciation	583,710	566,020
Operating lease right-of-use assets	102,580	113,033
Goodwill	1,030,000	1,036,821
Intangible assets, less accumulated amortization	380,942	399,799
Deferred income taxes	13,380	14,512
Other long-lived assets	62,903	64,056
Total assets	3,567,356	3,543,621
Current liabilities:
Accounts payable	359,189	361,432
Accrued liabilities	293,597	336,067
Total current liabilities	652,786	697,499
Long-term debt	1,230,566	1,285,666
Postretirement benefits	61,938	63,598
Deferred income taxes	115,160	98,060
Long-term operating lease liabilities	88,662	94,372
Other long-term liabilities	33,690	40,002
Stockholders’ equity:
Common stock	503	503
Additional paid-in capital	871,183	867,457
Retained earnings	1,521,208	1,405,572
Accumulated other comprehensive loss	(71,184)	(97,204)
Treasury stock	(937,156)	(911,904)
Total stockholders’ equity	1,384,554	1,264,424
Total liabilities and stockholders' equity	$ 3,567,356	$ 3,543,621