1 unchanged sentence
CONDENSED CONSOLIDATED BALANCE SHEETS
−Removed: March 29, 2026 December 31, 2025
+Added: June 28, 2026 December 31, 2025
(In thousands)
32 unchanged sentences
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands, except per share data)
21 unchanged sentences
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Six Months Ended
+Added: June 28, 2026 June 29, 2025
(In thousands)
13 unchanged sentences
Other liabilities 11,054 13,409
−Removed: Net cash provided by (used for) operating activities ( 18,666 ) 7,441
+Added: Net cash provided by operating activities 110,558 89,470
Cash flows from investing activities:
35 unchanged sentences
Balance at March 29, 2026 50,335 $ 503 $ 862,720 $ 1,454,639 ( 11,399 ) $ ( 939,146 ) $ ( 95,715 ) $ 1,283,001
+Added: Net income — — — 68,536 — — — 68,536
+Added: Other comprehensive income, net of tax — — — — — — 24,531 24,531
+Added: Retirement Savings Plan stock contributions — — 1,098 — 19 1,145 — 2,243
+Added: Exercise of stock options, net of tax withholding forfeitures — — ( 28 ) — — 9 — ( 19 )
+Added: Conversion of restricted stock units into common stock, net of tax withholding forfeitures — — ( 1,649 ) — 21 836 — ( 813 )
+Added: Share-based compensation — — 9,042 — — — — 9,042
+Added: Common stock dividends ($ 0.05 per share)
+Added: — — — ( 1,967 ) — — — ( 1,967 )
+Added: Balance at June 28, 2026 50,335 $ 503 $ 871,183 $ 1,521,208 ( 11,359 ) $ ( 937,156 ) $ ( 71,184 ) $ 1,384,554
Additional Accumulated
14 unchanged sentences
Balance at March 30, 2025 50,335 $ 503 $ 840,565 $ 1,225,949 ( 10,698 ) $ ( 803,828 ) $ ( 40,682 ) $ 1,222,507
+Added: Net income — — — 61,006 — — — 61,006
+Added: Other comprehensive loss, net of tax — — — — — — ( 39,896 ) ( 39,896 )
+Added: Retirement Savings Plan stock contributions — — 1,391 — 21 737 — 2,128
+Added: Exercise of stock options, net of tax withholding forfeitures — — ( 272 ) — 5 ( 1 ) — ( 273 )
+Added: Conversion of restricted stock units into common stock, net of tax withholding forfeitures — — ( 779 ) — 20 566 — ( 213 )
+Added: Share repurchase including excise tax — — — — ( 153 ) ( 15,616 ) — ( 15,616 )
+Added: Share-based compensation — — 6,827 — — — — 6,827
+Added: Common stock dividends ($ 0.05 per share)
+Added: — — — ( 1,995 ) — — — ( 1,995 )
+Added: Balance at June 29, 2025 50,335 $ 503 $ 847,732 $ 1,284,960 ( 10,805 ) $ ( 818,142 ) $ ( 80,578 ) $ 1,234,475
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
25 unchanged sentences
Our fiscal second and third quarters each have 91 days.
−Removed: The three months ended March 29, 2026 and March 30, 2025 included 88 and 89 days, respectively.
+Added: The six months ended June 28, 2026 and June 29, 2025 included 179 and 180 days, respectively.
Fair Value Measurement
4 unchanged sentences
• Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
−Removed: As of and during the three months ended March 29, 2026 and March 30, 2025, we utilized Level 1 inputs to determine the fair value of cash equivalents.
−Removed: We did not have any transfers between Level 1 and Level 2 fair value measurements during the three months ended March 29, 2026 and March 30, 2025.
+Added: As of and during the three and six months ended June 28, 2026 and June 29, 2025, we utilized Level 1 inputs to determine the fair value of cash equivalents.
+Added: We did not have any transfers between Level 1 and Level 2 fair value measurements during the three or six months ended June 28, 2026 and June 29, 2025.
Cash and Cash Equivalents
1 unchanged sentence
We periodically have cash equivalents consisting of short-term money market funds and other investments.
−Removed: As of March 29, 2026, we did not have any such cash equivalents on hand.
+Added: As of June 28, 2026, we did not have any such cash equivalents on hand.
The primary objective of our investment activities is to preserve our capital for the purpose of funding operations.
6 unchanged sentences
Based on facts currently available, we believe the disposition of the claims that are pending or asserted will not have a material adverse effect on our financial position, results of operations, or cash flow.
−Removed: As of March 29, 2026, we were party to surety bonds, standby letters of credit, and bank guaranties totaling $ 15.5 million, $ 9.9 million, and $ 4.5 million, respectively.
+Added: As of June 28, 2026, we were party to standby letters of credit, surety bonds, and bank guaranties totaling $ 17.5 million, $ 15.3 million, and $ 4.7 million, respectively.
Revenue Recognition
23 unchanged sentences
The following tables present our revenues disaggregated by market.
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
−Removed: Broadband $ 155,282 $ 146,647
Automation $ 436,766 $ 365,973 $ 823,775 $ 716,784
+Added: Broadband 157,034 155,385 312,317 302,032
Smart Buildings 156,357 150,634 310,440 278,037
1 unchanged sentence
The following tables present our revenues disaggregated by geography, based on the location of the customer purchasing the product.
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
17 unchanged sentences
We adjust other current assets and cost of sales for the estimated level of returns.
−Removed: Adjustments to revenue for performance obligations satisfied in prior periods were not significant during the three months ended March 29, 2026 and March 30, 2025 .
+Added: Adjustments to revenue for performance obligations satisfied in prior periods were not significant during the three and six months ended June 28, 2026 and June 29, 2025 .
The following table presents estimated and accrued variable consideration:
−Removed: March 29, 2026 December 31, 2025
+Added: June 28, 2026 December 31, 2025
(in thousands)
6 unchanged sentences
Our contract terms for support, maintenance, and professional services typically require payment within one year or less of when the services will be provided.
−Removed: As of March 29, 2026, total deferred revenue was $ 41.5 million, and of this amount, $ 32.9 million is expected to be recognized within the next twelve months, and the remaining $ 8.6 million is long- term and is expected to be recognized over a period greater than twelve months.
−Removed: The following table presents deferred revenue activity during the three months ended March 29, 2026 and March 30, 2025, respectively:
+Added: As of June 28, 2026, total deferred revenue was $ 42.6 million, and of this amount, $ 34.9 million is expected to be recognized within the next twelve months, and the remaining $ 7.7 million is long- term and is expected to be recognized over a period greater than twelve months.
+Added: The following table presents deferred revenue activity during the three and six months ended June 28, 2026 and June 29, 2025, respectively:
(In thousands)
3 unchanged sentences
Balance at the end of Q1 $ 41,491 $ 43,443
−Removed: Service-type warra nties represent $ 16.9 million of the deferred revenue balance at March 29, 2026, and of this amount $ 10.9 million is expected to be recognized in the next twelve months, and the remaining $ 6.0 million is long-term and will be recognized over a period greater than twelve months.
−Removed: As of March 29, 2026 and December 31, 2025, we did not have any material contract assets recorded in the Condensed Consolidated Balance Sheets.
+Added: New deferrals 16,889 16,225
+Added: Revenue recognized ( 15,787 ) ( 14,062 )
+Added: Balance at the end of Q2 $ 42,593 $ 45,606
+Added: Service-type wa rranties represent $ 16.3 million of the deferred revenue balance at June 28, 2026, and of this amount $ 11.1 million is expected to be recognized in the next twelve months, and the remaining $ 5.2 million is long-term and will be recognized over a period greater than twelve months.
+Added: As of June 28, 2026 and December 31, 2025, we did not have any material contract assets recorded in the Condensed Consolidated Balance Sheets.
We expense sales commissions as incurred when the duration of the related revenue arrangement is one year or less.
We capitalize sales commissions when the original duration of the related revenue arrangement is longer than one year, and we amortize it over the related revenue arrangement period.
−Removed: Capitalized sales commissions as of March 29, 2026 and December 31, 2025 were not material.
+Added: Capitalized sales commissions as of June 28, 2026 and December 31, 2025 were not material.
The following table presents sales commissions that are recorded within selling, general and administrative expenses:
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
2 unchanged sentences
The following table presents the basis for the income per share computations:
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
3 unchanged sentences
Weighted average shares outstanding, diluted 39,283 40,002 39,338 40,418
−Removed: For each of the three months ended March 29, 2026 and March 30, 2025, diluted weighted average shares outstanding did not include outstanding equity awards of 0.1 million because they were anti-dilutive.
−Removed: In addition, for the three months ended March 29, 2026 and March 30, 2025 , diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.3 million, respectively, because the related performance conditions have not been satisfied.
+Added: For each of the three and six months ended June 28, 2026 and June 29, 2025, diluted weighted average shares outstanding did not include outstanding equity awards of 0.1 million because they were anti-dilutive.
+Added: In addition, for the three months ended June 28, 2026 and June 29, 2025, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.2 million because the related performance conditions have not been satisfied.
+Added: F or both the six months ended June 28, 2026 and June 29, 2025 , diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million because the related performance conditions have not been satisfied.
For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent.
11 unchanged sentences
Provisions and recoveries are included in selling, general and administrative expenses.
−Removed: The following table presents the activity in the trade receivables allowance for doubtful accounts for the three months ended March 29, 2026 and March 30, 2025, respectively:
+Added: The following table presents the activity in the trade receivables allowance for doubtful accounts for the three and six months ended June 28, 2026 and June 29, 2025, respectively:
(In thousands)
5 unchanged sentences
Q1 ending balance $ 16,973 $ 24,652
+Added: Current period provision 1,018 373
+Added: Fx impact ( 87 ) 219
+Added: Recoveries collected ( 58 ) ( 19 )
+Added: Write-offs — ( 106 )
+Added: Q2 ending balance $ 17,846 $ 25,119
Write-offs were primarily due to deterioration of certain customers' financial condition such that we determined the previously reserved balances to be uncollectible.
−Removed: The following table presents the major classes of inventories as of March 29, 2026 and December 31, 2025 , respectively:
−Removed: March 29, 2026 December 31, 2025
+Added: The following table presents the major classes of inventories as of June 28, 2026 and December 31, 2025 , respectively:
+Added: June 28, 2026 December 31, 2025
(In thousands)
17 unchanged sentences
Our lease agreements do not contain material residual value guarantees.
−Removed: Our variable lease expense was approximately $ 0.8 million for both the three months ended March 29, 2026 and March 30, 2025, respectively.
+Added: Our variable lease expense was approximately $ 0.6 million and $ 0.8 million for the three months ended June 28, 2026 and June 29, 2025, respectively, and $ 1.4 million and $ 1.6 million for the six months ended June 28, 2026 and June 29, 2025, respectively.
The components of lease expense were as follows:
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
5 unchanged sentences
Supplemental cash flow information related to leases was as follows:
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
1 unchanged sentence
Operating cash flows from operating leases $ 5,553 $ 5,400 $ 10,996 $ 10,430
−Removed: Operating cash flows from finance leases were not material during the three months ended March 29, 2026 and March 30, 2025 .
+Added: Operating cash flows from finance leases were not material during the three and six months ended June 28, 2026 and June 29, 2025 .
Supplemental balance sheet information related to leases was as follows:
−Removed: March 29, 2026 December 31, 2025
+Added: June 28, 2026 December 31, 2025
(In thousands)
12 unchanged sentences
Total finance lease liabilities $ 8,892 $ 9,901
−Removed: March 29, 2026 December 31, 2025
+Added: June 28, 2026 December 31, 2025
Weighted Average Remaining Lease Term
4 unchanged sentences
Finance leases 4.8 % 4.9 %
−Removed: In addition, we guaranteed the lease payments for certain property leases of a former subsidiary with expiration dates extending out to 2035.
−Removed: These lease guarantees were retained by Belden and not transferred to the buyer of the former subsidiary.
−Removed: As of both March 29, 2026 and December 31, 2025, the fixed, remaining base rent payments were approximately $ 17 million.
−Removed: As of March 29, 2026 and December 31, 2025, we had a liability for expected, future payments of $ 9.6 million and $ 10.7 million, respectively.
−Removed: The liability is based on certain assumptions, including potential settlements with landlords that we continually reassess on an ongoing basis.
+Added: In addition, we guaranteed the lease payments for certain property leases of a former subsidiary that were retained by Belden and not transferred to the buyer of the former subsidiary.
+Added: During the three months ended June 28, 2026, we signed an agreement to terminate one of our guarantees for GBP 7.2 million ($ 9.7 million) paid over three separate installments, the first of which for GBP 2.4 million ($ 3.2 million) was paid during the quarter.
+Added: As of June 28, 2026 and December 31, 2025, we had a liability for all lease guarantees of $ 9.6 million and $ 10.7 million, respectively.
+Added: The liability is based on certain assumptions that we continually reassess on an ongoing basis.
We will update the estimated liability balance for changes in assumptions as needed.
1 unchanged sentence
Depreciation and Amortization Expense
−Removed: We recognized depreciation expense of $ 17.7 million and $ 13.9 million in the three months ended March 29, 2026 and March 30, 2025, respectively.
−Removed: We recognized amortization expense of $ 14.8 million and $ 15.9 million in the three months ended March 29, 2026 and March 30, 2025, respectively .
+Added: We recognized depreciation expense of $ 17.8 million and $ 15.7 million in the three months ended June 28, 2026 and June 29, 2025, respectively.
+Added: We recognized depreciation expense of $ 35.5 million and $ 29.6 million in the six months ended June 28, 2026 and June 29, 2025, respectively.
+Added: We recognized amortization expense of $ 18.3 million and $ 16.4 million in the three months ended June 28, 2026 and June 29, 2025, respectively.
+Added: We recognized amortization expense of $ 33.1 million and $ 32.3 million in the six months ended June 28, 2026 and June 29, 2025, respectively.
Long-Term Debt and Other Borrowing Arrangements
The carrying values of our long-term debt were as follows:
−Removed: March 29, 2026 December 31, 2025
+Added: June 28, 2026 December 31, 2025
(In thousands)
19 unchanged sentences
In the event that we borrow more than 90 % of our combined borrowing base or our borrowing base availability is less than $ 27.0 million, we are subject to a fixed charge coverage ratio covenant.
−Removed: As of March 29, 2026, we had no borrowings outstanding on the Revolver, and our available borrowing capacity was $ 374.9 million.
+Added: As of June 28, 2026, we had no borrowings outstanding on the Revolver, and our available borrowing capacity was $ 369.6 million.
+Added: On June 29, 2026, we borrowed $ 50.0 million on our Revolver at a current rate of 4.9 %.
Senior Subordinated Notes
2 unchanged sentences
We have outstanding € 350.0 million aggregate principal amount of 3.875 % senior subordinated notes due 2028 (the 2028 Notes).
−Removed: The carrying value of the 2028 Notes as of March 29, 2026 is $ 405.1 million.
+Added: The carrying value of the 2028 Notes as of June 28, 2026 is $ 397.3 million.
The 2028 Notes are guaranteed on a senior subordinated basis by our current and future domestic subsidiaries.
2 unchanged sentences
We have outstanding € 300.0 million aggregate principal amount of 3.375 % senior subordinated notes due 2031 (the 2031 Notes).
−Removed: The carrying value of the 2031 Notes as of March 29, 2026 is $ 347.3 million.
+Added: The carrying value of the 2031 Notes as of June 28, 2026 is $ 340.5 million.
The 2031 Notes are guaranteed on a senior subordinated basis by our current and future domestic subsidiaries.
2 unchanged sentences
In January 2026, we completed an offering for € 450.0 million ($ 537.3 million at issuance) aggregate principal amount of 4.250 % senior subordinated notes due 2033 (the 2033 Notes).
−Removed: The carrying value of the 2033 Notes as of March 29, 2026 is $ 520.9 million.
+Added: The carrying value of the 2033 Notes as of June 28, 2026 is $ 510.8 million.
The 2033 Notes are guaranteed on a senior subordinated basis by our current and future domestic subsidiaries.
4 unchanged sentences
Fair Value of Long-Term Debt
−Removed: The fair value of our senior subordinated notes as of March 29, 2026 was approximately $ 1,233.5 million based on quoted prices of the debt instruments in inactive markets (Level 2 valuation).
−Removed: This amount represents the fair value of our senior subordinated notes with a carrying value of $ 1,273.3 million as of March 29, 2026.
+Added: The fair value of our senior subordinated notes as of June 28, 2026 was approximately $ 1,224.3 million based on quoted prices of the debt instruments in inactive markets (Level 2 valuation).
+Added: This amount represents the fair value of our senior subordinated notes with a carrying value of $ 1,248.5 million as of June 28, 2026.
Net Investment Hedge
All of our euro denominated notes were issued by Belden Inc., a USD functional currency entity.
−Removed: As of March 29, 2026, € 567.8 million o f our outstanding foreign denominated debt is designated as a net investment hedge on the foreign currency risk of our net investment in our euro foreign operations.
+Added: As of June 28, 2026, € 567.8 million o f our outstanding foreign denominated debt is designated as a net investment hedge on the foreign currency risk of our net investment in our euro foreign operations.
The objective of the hedge is to protect the net investment in the foreign operation against adverse changes in the euro exchange rate.
The transaction gain or loss is reported in the translation adjustment section of other comprehensive income.
−Removed: For the three months ended March 29, 2026 and March 30, 2025, the transaction gain (loss) associated with the net investment hedge reported in other comprehensive income was $ 9.7 million and $( 24.9 ) million , respectively.
−Removed: For the three months ended March 29, 2026 and March 30, 2025, we recognized income tax expense of $ 11.7 million and $ 10.1 million representing effective tax rates of 18.7 % and 16.3 %, respectively .
+Added: For the three and six months ended June 28, 2026, the transaction gain, net of tax, associated with the net investment hedge reported in other comprehensive income w as $ 10.0 million and $ 17.4 million , respectively.
+Added: For the three and six months ended June 29, 2025, the transaction loss, net of tax, associated with the net investment hedge reported in other comprehensive income was $ 48.1 million and $ 73.0 million, respectively.
+Added: For the three and six months ended June 28, 2026, we recognized income tax expense of $ 16.7 million and $ 28.4 million representing effective tax rates of 19.6 % and 19.2 %, respectively .
The effective tax rates were primarily impacted by the effect of our foreign operations, including statutory tax rate differences and foreign tax credits.
1 unchanged sentence
We have included the impact of international tax changes effective from January 1, 2026 and continue to evaluate the impact of the act on our consolidated financial statements and disclosures.
+Added: For the three and six months ended June 29, 2025, we recognized income tax expense of $ 5.7 million and $ 15.8 million, respectively, representing effective tax rates of 8.5 % and 12.3 %, respectively.
+Added: The effective tax rates were primarily impacted by the release of an uncertain tax position reserve related to certain foreign tax credits and by the effect of our foreign operations, including statutory tax rate differences and foreign tax credits.
Pension and Other Postretirement Obligations
1 unchanged sentence
Pension Obligations Other Postretirement Obligations
−Removed: March 29, 2026 March 30, 2025 March 29, 2026 March 30, 2025
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
6 unchanged sentences
Net periodic benefit cost $ 1,116 $ 1,100 $ 151 $ 154
+Added: Six Months Ended
+Added: Service cost $ 1,612 $ 1,644 $ 15 $ 15
+Added: Interest cost 7,808 7,600 455 453
+Added: Expected return on plan assets ( 8,053 ) ( 7,798 ) — —
+Added: Amortization of prior service cost 159 76 — —
+Added: Actuarial losses (gains) 710 640 ( 167 ) ( 166 )
+Added: Net periodic benefit cost $ 2,236 $ 2,162 $ 303 $ 302
Comprehensive Income and Accumulated Other Comprehensive Income (Loss)
The following table summarizes total comprehensive income:
−Removed: Three Months Ended
−Removed: March 29, 2026 March 30, 2025
+Added: Three Months Ended Six Months Ended
+Added: June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025
(In thousands)
13 unchanged sentences
Net current period other comprehensive income 25,479 541 26,020
−Removed: Balance at March 29, 2026 $ ( 90,589 ) $ ( 5,126 ) $ ( 95,715 )
−Removed: As of March 29, 2026 and December 31, 2025, there was tax of $ 16.4 million and $ 14.1 million, respectively, included in accumulated other comprehensive loss in the table above.
−Removed: The following table summarizes the effects of reclassifications from accumulated other comprehensive loss for the three months ended March 29, 2026:
+Added: Balance at June 28, 2026 $ ( 66,329 ) $ ( 4,855 ) $ ( 71,184 )
+Added: As of June 28, 2026 and December 31, 2025, there was tax of $ 19.4 million and $ 14.1 million, respectively, included in accumulated other comprehensive loss in the table above.
+Added: The following table summarizes the effects of reclassifications from accumulated other comprehensive loss for the six months ended June 28, 2026:
Reclassified from Accumulated Other Comprehensive Loss Affected Line Item in the Consolidated Statements of Operations and Comprehensive Income
10 unchanged sentences
This program is funded with cash on hand and cash flows from operating activities.
−Removed: During the three months ended March 29, 2026, we repurchased 0.3 million shares of our common stock for an aggregate cost of $ 30.4 million at an average price per share of $ 117.05 .
−Removed: During the three months ended March 30, 2025, we repurchased 0.8 million shares of our common stock for an aggregate cost of $ 84.5 million at an average price per share of $ 104.28 .
−Removed: As of March 29, 2026, we had $ 115.0 million of authorizations remaining under the program.
+Added: During the three months ended June 28, 2026, we did no t repurchase shares of our common stock.
+Added: During the six months ended June 28, 2026, we repurchased 0.3 million shares of our common stock for an aggregate cost of $ 30.4 million at an average price per share of $ 117.05 .
+Added: During the three months ended June 29, 2025, we repurchased 0.2 million shares of our common stock for an aggregate cost of $ 15.5 million at an average price per share of $ 101.06 .
+Added: During the six months ended June 29, 2025, we repurchased 1.0 million shares of our common stock for an aggregate cost of $ 100.0 million at an average price per share of $ 103.76 .
+Added: As of June 28, 2026, we had $ 115.0 million of authorizations remaining under the program.
This share repurchase authorization does not have an expiration date.
Subsequent Events
−Removed: On April 29, 2026, we entered into a definitive agreement to acquire certain entities that comprise Ruckus Networks (“Ruckus”) for approximately $ 1.846 billion, which we expect to fund through additional debt.
+Added: On July 1, 2026, we acquired certain entities that comprise Ruckus Networks (“RUCKUS”) for approximately $ 1.9 billion.
+Added: To fund the purchase of RUCKUS, we entered into a Term Loan Credit Facility on July 1, 2026.
+Added: The Term Loan Credit Facility bears interest either, at the Company’s election, at term SOFR plus 2.25 % or a base rate plus 1.25 % per annum.
+Added: The Term Loan Credit Facility amortizes 0.25 % per quarter and matures on July 1, 2033.
RUCKUS, based in California, provides wireless networks for enterprises and service providers.
2 unchanged sentences
and software and software-as-a-service applications addressing security, location, reporting and analytics.
−Removed: The acquisition of Ruckus is expected to close in the second half of 2026.
+Added: We are in the preliminary phase of the purchase accounting process, including obtaining third party valuations of certain tangible and intangible assets acquired.
+Added: As such, the purchase accounting process is incomplete and we cannot provide the estimated fair value of the assets and liabilities acquired for this business combination.
+Added: however, to record a significant amount of definite-lived intangible assets and goodwill related to this acquisition.
+Added: Also on June 29, 2026, we borrowed $ 50.0 million on our Revolver at a current rate of 4.9 %.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.