Financial Analysis

Acquisitions On September 16, 2024, we acquired Voleatech with cash on hand for 5.0 million ($5.6 million), net of cash acquired and accounted for the acquisition as a business combination. The acquisition includes a potential earn-out up to 3.0 million based upon certain targets over three years, which are being accounted for as compensation cost. Voleatech, based in Germany, is known for their VT AIR Next Gen Firewall and expands Belden's Firewall product portfolio and overall planning of security in OT (Operational Technology) networking. The results of Voleatech have been included in our Consolidated Financial Statements from September 16, 2024 and are reported within t he Automation Solutions segment. The Voleatech acquisition was not material to our financial position or results of operations. On June 30, 2024, we acquired Precision Optical Technologies (Precision) and accounted for it as a business combination. During 2025, we received $7.9 million related to an adjustment of the consideration paid. Including this adjustment, the total consideration paid for Precision, net of cash acquired, was $281.7 million and was funded with cash on hand. Precision, based in New York, is a leading supplier of value-added optical transceivers with proprietary software, firmware configurations, and related components. Precision is reported within the Smart Infrastructure Solutions segment. The following table summarizes the estimated, preliminary fair values of the assets acquired an …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Contingent Liabilities General Various claims are asserted against us in the ordinary course of business including those pertaining to income tax examinations, product liability, customer, employment, vendor, and patent matters. Based on facts currently available, management believes that the disposition of the claims that are pending or asserted will not have a materially adverse effect on our financial position, operating results, or cash flow. Letters of Credit, Guarantees and Bonds At December 31, 2025, we were party to unused standby surety bonds, letters of credit, and bank guarantees totaling $13.0 million, $11.1 million, and $5.8 million, respect ively. These commitments are generally issued to secure obligations we have for a variety of commercial reasons, such as workers compensation self-insurance programs in several states and the importation and exportation of product.

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Long-Term Debt and Other Borrowing Arrangements The carrying values of our long-term debt and other borrowing arrangements were as follows: December 31, 2025 2024 (In thousands) Revolving credit agreement due 2030 $ $ Senior subordinated notes: 3.375% Senior subordinated notes due 2027 528,525 465,795 3.875% Senior subordinated notes due 2028 411,075 362,285 3.375% Senior subordinated notes due 2031 352,350 310,530 Total senior subordinated notes 1,291,950 1,138,610 Less unamortized debt issuance costs (6,284) (8,509) Long-term debt $ 1,285,666 $ 1,130,101 Revolving Credit Agreement due 2030 On July 18, 2025, we refinanced our revolving credit facility (the Revolver) extending the maturity date to July 18, 2030 and increasing the borrowing capacity from $300.0 million to $400.0 million. The borrowing base under the Revolver includes eligible accounts receivable; inventory; and property, plant and equipment of certain of our subsidiaries in the United States, Belgium, Canada, Germany, the Netherlands, and United Kingdom. Interest on outstanding borrowings is variable, based upon SOFR or other similar indices in foreign jurisdictions, plus a spread that ranges from 1.25% - 1.75%, depending upon our leverage position. Outstanding borrowings in the U.S. and Canada may also, at our election, be priced on a base rate plus a spread that ranges from 0.25% 0.75%, depending on our leverage position. We pay a commitment fee on the total commitments of 0.25%. In the event that we borrow …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents our revenues disaggregated by major product category (in thousands). Broadband Solutions Automation Solutions Smart Buildings Solutions Total Revenues Year Ended December 31, 2025 Smart Infrastructure Solutions $ 633,499 $ $ 585,923 $ 1,219,422 Automation Solutions 1,495,772 1,495,772 Total $ 633,499 $ 1,495,772 $ 585,923 $ 2,715,194 Year Ended December 31, 2024 Smart Infrastructure Solutions $ 598,215 $ $ 545,575 $ 1,143,790 Automation Solutions 1,317,189 1,317,189 Total $ 598,215 $ 1,317,189 $ 545,575 $ 2,460,979 Year Ended December 31, 2023 Smart Infrastructure Solutions $ 555,030 $ $ 567,801 $ 1,122,831 Automation Solutions 1,389,253 1,389,253 Total $ 555,030 $ 1,389,253 $ 567,801 $ 2,512,084 The following table presents our revenues disaggregated by geography, based on the location of the customer purchasing the product (in thousands). Americas EMEA APAC Total Revenues Year Ended December 31, 2025 Smart Infrastructure Solutions $ 964,572 $ 174,801 $ 80,049 $ 1,219,422 Automation Solutions 856,447 381,865 257,460 1,495,772 Total $ 1,821,019 $ 556,666 $ 337,509 $ 2,715,194 Year Ended December 31, 2024 Smart Infrastructure Solutions $ 853,539 $ 173,023 $ 117,228 $ 1,143,790 Automation Solutions 782,312 335,396 199,481 1,317,189 Total $ 1,635,851 $ 508,419 $ 316,709 $ 2,460,979 Year Ended December 31, 2023 Smart Infrastructure Solutions $ 824,991 $ 180,880 $ 116,960 $ 1,122,831 Automation Solutions 787,739 385,454 216,060 1,389,253 Total $ 1,612, …

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Share-Based Compensation Compensation cost primarily included in selling, general and administrative expense, and the income tax benefit recognized for our share-based compensation arrangements is included below: Years Ended December 31, 2025 2024 2023 (In thousands) Total share-based compensation cost $ 30,015 $ 27,532 $ 21,024 Income tax benefit 7,144 6,553 5,004 We currently have outstanding stock appreciation rights (SARs), restricted stock units with service vesting conditions, restricted stock units with performance vesting conditions, and restricted stock units with market conditions. We grant SARs with an exercise price equal to the closing market price of our common stock on the grant date. Generally, SARs may be converted into shares of our common stock in equal amounts on each of the first three anniversaries of the grant date and expire 10 years from the grant date. We did not grant any SARs in 2025 or 2024. Certain awards provide for accelerated vesting in certain circumstances, including following a change in control of the Company. Restricted stock units with service conditions generally vest 3-5 years from the grant date. Restricted stock units issued based on the attainment of the performance conditions generally vest on the second or third anniversary of their grant date. Restricted stock units issued based on the attainment of market conditions generally vest on the third anniversary of their grant date. We recognize compensation cost for all awards based o …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Intangible Assets The carrying values of intangible assets were as follows: December 31, 2025 December 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount (In thousands) (In thousands) Goodwill $ 1,036,821 $ $ 1,036,821 $ 1,018,677 $ $ 1,018,677 Definite-lived intangible assets subject to amortization: Developed technology $ 388,914 $ (287,587) $ 101,327 $ 341,303 $ (247,904) $ 93,399 Customer relationships 462,792 (190,069) 272,723 454,298 (164,279) 290,019 Trademarks 75,005 (52,517) 22,488 72,804 (41,733) 31,071 Backlog 15,319 (15,261) 58 14,170 (13,705) 465 In-service research and development 5,000 (5,000) 5,000 (5,000) Non-compete agreements 5,355 (2,152) 3,203 5,265 (1,145) 4,120 Total intangible assets subject to amortization $ 952,385 $ (552,586) $ 399,799 $ 892,840 $ (473,766) $ 419,074 Segment Allocation of Goodwill The changes in the carrying amount of goodwill assigned to reporting units in our reportable segments are as follows: Smart Infrastructure Solutions Automation Solutions Consolidated (In thousands) Balance at December 31, 2023 $ 511,524 $ 395,807 $ 907,331 Acquisitions 120,962 2,620 123,582 Translation impact (3,128) (9,108) (12,236) Balance at December 31, 2024 $ 629,358 $ 389,319 $ 1,018,677 Acquisition adjustments (6,976) (320) (7,296) Translation impact 7,025 18,415 25,440 Balance at December 31, 2025 $ 629,407 $ 407,414 $ 1,036,821 Annual Impairment Test The an …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes Years Ended December 31, 2025 2024 2023 (in thousands) Income before taxes: United States operations $ 84,531 $ 74,850 $ 86,805 Foreign operations 182,335 153,092 198,951 Income before taxes $ 266,866 $ 227,942 $ 285,756 Income tax expense (benefit): Currently payable United States federal $ 14,680 $ 29,589 $ 34,091 United States state and local 2,308 1,573 3,900 Foreign 7,327 14,320 18,166 24,315 45,482 56,157 Deferred United States federal (1,447) (6,342) (7,497) United States state and local 2,721 (1,041) (623) Foreign 3,755 (8,571) (4,837) 5,029 (15,954) (12,957) Income tax expense $ 29,344 $ 29,528 $ 43,200 A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before taxes after the prospective adoption of ASU 2023-09 is as follows: Year Ended December 31, 2025 Amount Percentage Effective income tax rate reconciliation: United States Federal Statutory Tax Rate $ 56,041 21.0 % State and Local Income Taxes, Net of Federal Income Tax Effect (a) State and local income taxes 4,523 1.7 % Capital gain on equity transfer (b) 6,383 2.4 % Changes in valuation allowances - capital loss utilization on equity transfer (b) (6,383) (2.4) % Foreign Tax Effects Belgium (2,815) (1.1) % Germany Enacted changes in tax laws or rates 2,828 1.1 % Other (219) (0.1) % Malta Statutory tax rate difference between Malta and United States 5,025 1.9 % Notional interest deduction (8,332) (3.1) % Forei …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases We have operating and finance leases for properties, including manufacturing facilities, warehouses, and office space; as well as vehicles and certain equipment. We make certain judgments in determining whether a contract contains a lease in accordance with ASU 2016-02. Our leases have remaining lease terms of less than 1 year to 19 years, some of which include options to extend the lease for a period of up to 15 years and some include options to terminate the leases within 1 year. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably certain as of the commencement date of the lease. Our lease agreements do not contain material residual value guarantees, and our variable lease payments were $3.8 million and $3.5 million during the years ended December 31, 2025 and 2024, respectively. We have entered into various short-term operating leases with an initial term of twelve months or less. These leases are not recorded on our balance sheet as of December 31, 2025 or 2024 , and the rent expense for short-term leases was not material. We have certain property and equipment lease contracts that may contain lease and non-lease components, and we have elected to utilize the practical expedient to account for these components together as a single combined lease component. As the rate implicit in most of our leases is not readily determinable, we use the incremental borrowing rate to determine the present value of the lea …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Current-Year Adoption of Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures (ASU 2023-09) enhancing the transparency and decision usefulness of income tax disclosures. ASU 2023-09 addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The amendments in ASU 2023-09 are applied on a prospective basis, though retrospective application is permitted. We prospectively adopted ASU 2023-09 during the fourth quarter of 2025. See Note 17. Pending Adoption of Recent Accounting Pronouncements In November 2024, the FASB issued guidance to improve the disclosure of expenses in commonly presented expense captions. The new guidance requires a public entity to provide tabular disclosure, on an annual and interim basis, of amounts for the following expense categories: (1) purchases of inventory, (2) employee compensation, (3) depreciation and (4) intangible asset amortization, as included in each relevant expense caption. A relevant expense caption is an expense caption presented on the face of the income statement that contains any of the expense categories noted. Additionally, on an annual and interim basis, a qualitative description is required for a …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Pension and Other Postretirement Benefits We sponsor defined benefit pension plans and defined contribution plans that cover substantially all employees in Canada, the Netherlands, Switzerland, the United Kingdom, the U.S., Belgium and certain employees in Germany. Certain defined benefit plans in the United Kingdom are frozen and additional benefits are not being earned by the participants. The U.S. defined benefit pension plan is closed to new entrants. Annual contributions to retirement plans equal or exceed the minimum funding requirements of applicable local regulations. The assets of the funded pension plans we sponsor are maintained in various trusts and are invested primarily in equity and fixed income securities. Benefits provided to employees under defined contribution plans include cash and stock contributions by the Company based on either hours worked by the employee or a percentage of the employees compensation. Defined contribution expense for 2025, 2024, and 2023 w as $16.6 million , $14.4 million, and $14.0 million, respectively. We sponsor unfunded postretirement medical and life insurance benefit plans for certain employees in Canada and the U.S. The medical benefit portion of the U.S. plan is only for employees who retired prior to 1989 as well as certain other employees who were near retirement and elected to receive certain benefits. The following tables provide a reconciliation of the changes in the plans benefit obligations and fair value of assets as …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring Activities During 2025, 2024, and 2023, we incurred costs related to the programs described below. We also incurred costs related to other individually insignificant programs. Productivity Initiative Program We initiated a productivity program in response to weaker economic conditions experienced in the second half of 2023. The Smart Infrastructure Solutions segment incurred $1.7 million, $2.6 million and $3.6 million of severance and other costs during the years ended December 31, 2025, 2024 and 2023, respectively. The Automation Solutions segment incurred $2.2 million, $0.5 million, and $5.5 million of severance and other costs during the years ended December 31, 2025, 2024 and 2023, respectively. Acquisition Integration Program We are integrating our recent acquisitions with our existing businesses to achieve desired cost savings, primarily by focusing on consolidating existing and acquired facilities as well as other support functions. The Smart Infrastructure Solutions segment incurred $2.2 million, $11.6 million, and $6.5 million of restructuring and integration costs during the years ended December 31, 2025, 2024, and 2023, respectively. The Automation Solutions segment incurred $1.2 million, $2.1 million, and $3.0 million of restructuring and integration costs during the years ended December 31, 2025, 2024, and 2023, respectively. The following table summarizes the costs of the programs described above by segment, all of which were excluded from Segment …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenues Revenues are recognized when control of the promised goods or services is transferred to our customers and in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Taxes collected from customers and remitted to governmental authorities are not included in our revenues. We do not evaluate a contract for a significant financing component when the time between cash collection and performance is less than one year. The following table presents our revenues disaggregated by major product category (in thousands). Broadband Solutions Automation Solutions Smart Buildings Solutions Total Revenues Year Ended December 31, 2025 Smart Infrastructure Solutions $ 633,499 $ $ 585,923 $ 1,219,422 Automation Solutions 1,495,772 1,495,772 Total $ 633,499 $ 1,495,772 $ 585,923 $ 2,715,194 Year Ended December 31, 2024 Smart Infrastructure Solutions $ 598,215 $ $ 545,575 $ 1,143,790 Automation Solutions 1,317,189 1,317,189 Total $ 598,215 $ 1,317,189 $ 545,575 $ 2,460,979 Year Ended December 31, 2023 Smart Infrastructure Solutions $ 555,030 $ $ 567,801 $ 1,122,831 Automation Solutions 1,389,253 1,389,253 Total $ 555,030 $ 1,389,253 $ 567,801 $ 2,512,084 The following table presents our revenues disaggregated by geography, based on the location of the customer purchasing the product (in thousands). Americas EMEA APAC Total Revenues Year Ended December 31, 2025 Smart Infrastructure Solutions $ 964,572 $ 174,801 $ 80,049 $ 1,219,422 Au …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Operating Segments and Geographic Information As of December 31, 2025, we were organized around two global businesses: Smart Infrastructure Solutions and Automation Solutions. In 2026, we are realigning our organizational structure, moving to a unified functional operating model. See Note 25. Each of the global businesses represents a reportable segment. Our chief operating decision maker is our President and Chief Executive Officer. The key measure of segment profit or loss used by him to review segment operating results is Segment EBITDA. Segment EBITDA excludes certain items, including depreciation expense; amortization of intangibles; asset impairment; severance, restructuring, and acquisition integration costs; adjustments related to acquisitions and divestitures; and other costs. We allocate corporate expenses to the segments for purposes of measuring Segment EBITDA. Corporate expenses are allocated on the basis of each segments relative EBITDA prior to the allocation. Segment Revenues represent non-affiliate revenues. Our measure of segment assets does not include cash, goodwill, intangible assets, deferred tax assets, or corporate assets. All goodwill is allocated to reporting units of our segments for purposes of impairment testing. Operating Segment Information Years Ended December 31, 2025 2024 2023 (In thousands) Smart Infrastructure Solutions Segment Revenues $ 1,219,422 $ 1,143,790 $ 1,122,831 Affiliate Revenues 184 142 127 Segment Cost of Sales (831,316) (789,2 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies Fair Value Measurement Accounting guidance for fair value measurements specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources or reflect our own assumptions of market participant valuation. The hierarchy is broken down into three levels based on the reliability of the inputs as follows: Level 1 Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets, or financial instruments for which significant inputs are observable, either directly or indirectly; and Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. During 2025, 2024, and 2023 we utilized Level 1 inputs to determine the fair value of cash equivalents and Level 2 and Level 3 inputs to determine the fair value of net assets acquired in business combinations (see Note 4) and for impairment testing (see Note 12). We did not have any transfers between Level 1 and Level 2 fair value measurements during 2025. Cash and Cash Equivalents We classify cash on hand and deposits in banks, including commercial paper, money …

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25: Subsequent Events Effective January 1, 2026, we are realigning our organizational structure, moving to a unified functional operating model designed to accelerate our solutions-first strategy, enhance operational agility, and capitalize on the increasing convergence of IT and OT. As a result of this organizational structure realignment, we are now a single reportable segment entity that is managed on a consolidated basis. This new organizational structure enables us to drive our solutions transformation within key verticals, leveraging our combined offerings to solve customers' most pressing problems. See Note 5. On January 28, 2026, we issued 450 million aggregate principal amount of 4.250% Senior Subordinated Notes due 2033 (the 2033 Notes), which are guaranteed on a senior subordinated basis by our current and future domestic subsidiaries. The 2033 Notes will be ranked equal in right of payment with our senior subordinated notes due 2031 and 2028, and interest will be payable semiannually on February 1 and August 1 of each year, beginning August 1, 2026. With the proceeds from this offering, on February 11, 2026, we repurchased the 2027 Notes for cash consideration of 450.0 million ($537.3 million), and recognized a $1.3 million loss on debt extinguishment, including the write-off of unamortized debt issuance costs. See Note 15. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

Long-Term Debt and Other Borrowing Arrangements The carrying values of our long-term debt were as follows: June 28, 2026 December 31, 2025 (In thousands) Revolving credit agreement due 2030 $ $ Senior subordinated notes: 3.375% Senior subordinated notes due 2027 528,525 3.875% Senior subordinated notes due 2028 397,250 411,075 3.375% Senior subordinated notes due 2031 340,500 352,350 4.250% Senior subordinated notes due 2033 510,750 Total senior subordinated notes 1,248,500 1,291,950 Less unamortized debt issuance costs (17,934) (6,284) Long-term debt $ 1,230,566 $ 1,285,666 Revolving Credit Agreement due 2030 On July 18, 2025, we refinanced our revolving credit facility (the Revolver) extending the maturity date to July 18, 2030 and increasing the borrowing capacity from $300.0 million to $400.0 million. The borrowing base under the Revolver includes eligible accounts receivable; inventory; and property, plant and equipment of certain of our subsidiaries in the United States, Belgium, Canada, Germany, the Netherlands, and United Kingdom. Interest on outstanding borrowings is variable, based upon SOFR or other similar indices in foreign jurisdictions, plus a spread that ranges from 1.25% - 1.75%, depending upon our leverage position. Outstanding borrowings in the U.S. and Canada may also, at our election, be priced on a base rate plus a spread that ranges from 0.25% - 0.75%, depending on our leverage position. We pay a commitment fee on the total commitments of 0.25%. In the …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following tables present our revenues disaggregated by market. Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Automation $ 436,766 $ 365,973 $ 823,775 $ 716,784 Broadband 157,034 155,385 312,317 302,032 Smart Buildings 156,357 150,634 310,440 278,037 Total Revenues $ 750,157 $ 671,992 $ 1,446,532 $ 1,296,853 The following tables present our revenues disaggregated by geography, based on the location of the customer purchasing the product. Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Americas $ 490,650 $ 448,611 $ 963,383 $ 876,842 EMEA 154,815 135,907 297,767 261,009 APAC 104,692 87,474 185,382 159,002 Total Revenues $ 750,157 $ 671,992 $ 1,446,532 $ 1,296,853

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Income Taxes 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. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted, which includes international tax changes, permanent extensions of most expiring Tax Cuts and Jobs Act provisions, and changes in the treatment of research and development and amortization expense deductions. 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. 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. 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.

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Leases We have operating and finance leases for properties, including manufacturing facilities, warehouses, and office space; as well as vehicles and equipment. We make certain judgments in determining whether a contract contains a lease in accordance with ASU 2016-02. Our leases have remaining lease terms within 1 to 19 years; some of which include extension and termination options. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably certain as of the commencement date of the lease. We have a few short-term operating leases with terms less than twelve months - these leases are not recorded on our balance sheet and the overall rent expense is not material. We also have certain lease contracts that contain both lease and non-lease components. We have elected the practical expedient to account for these components together as a single, combined lease component. T he rate implicit in most of our leases is not readily determinable. As a result, we utilize the incremental borrowing rate to determine the present value of the lease payments, which is unique to each leased asset, and is based upon the term of the lease, commencement date of the lease, local currency of the leased asset, and the credit rating of the legal entity leasing the asset. Our lease agreements do not contain material residual value guarantees. Our variable lease expense was approximately $0.6 million and $0.8 million for the three months ended June 2 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Current Year Adoption of Accounting Pronouncements None of the accounting pronouncements that became effective during 2026 had a material impact to our condensed consolidated financial statements or disclosures. Pending Adoption of Recent Accounting Pronouncements In November 2024, the FASB issued guidance to improve the disclosure of expenses in commonly presented expense captions. The new guidance requires a public entity to provide tabular disclosure, on an annual and interim basis, of amounts for the following expense categories: (1) purchases of inventory, (2) employee compensation, (3) depreciation and (4) intangible asset amortization, as included in each relevant expense caption. A relevant expense caption is an expense caption presented on the face of the income statement that contains any of the expense categories noted. Additionally, on an annual and interim basis, a qualitative description is required for amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. The guidance also requires certain amounts that are currently required to be disclosed to be included in the same tabular disclosure as these disaggregation requirements. Furthermore, on an annual and interim basis, a public entity is required to separately disclose selling expenses and annually, disclose a description of the selling expenses. The guidance is effective for 2027 annual reporting, and in the first quarter of 2028 for interim reporting, with early ad …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Pension and Other Postretirement Obligations The following table provides the components of net periodic benefit costs for our pension and other postretirement benefit plans: Pension Obligations Other Postretirement Obligations June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Three Months Ended Service cost $ 804 $ 882 $ 7 $ 8 Interest cost 3,899 3,832 227 230 Expected return on plan assets (4,022) (3,974) Amortization of prior service cost 80 39 Actuarial losses (gains) 355 321 (83) (84) Net periodic benefit cost $ 1,116 $ 1,100 $ 151 $ 154 Six Months Ended Service cost $ 1,612 $ 1,644 $ 15 $ 15 Interest cost 7,808 7,600 455 453 Expected return on plan assets (8,053) (7,798) Amortization of prior service cost 159 76 Actuarial losses (gains) 710 640 (167) (166) Net periodic benefit cost $ 2,236 $ 2,162 $ 303 $ 302 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Revenues Revenues are recognized when control of the promised goods or services is transferred to our customers and in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Taxes collected from customers and remitted to governmental authorities are not included in our revenues. The following tables present our revenues disaggregated by market. Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Automation $ 436,766 $ 365,973 $ 823,775 $ 716,784 Broadband 157,034 155,385 312,317 302,032 Smart Buildings 156,357 150,634 310,440 278,037 Total Revenues $ 750,157 $ 671,992 $ 1,446,532 $ 1,296,853 The following tables present our revenues disaggregated by geography, based on the location of the customer purchasing the product. Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 (In thousands) Americas $ 490,650 $ 448,611 $ 963,383 $ 876,842 EMEA 154,815 135,907 297,767 261,009 APAC 104,692 87,474 185,382 159,002 Total Revenues $ 750,157 $ 671,992 $ 1,446,532 $ 1,296,853 We generate revenues primarily by selling products and delivering solutions that make the digital journey simpler, smarter, and secure. Most of our performance obligations related to the sale of products are satisfied at a point in time when control of the product is transferred to the customer, which generally occurs when the product has been shipped or delivered fro …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies Basis of Presentation The accompanying Condensed Consolidated Financial Statements include Belden Inc. and all of its subsidiaries (the Company, us, we, or our). We eliminate all significant affiliate accounts and transactions in consolidation. The accompanying Condensed Consolidated Financial Statements presented as of any date other than December 31, 2025: Are prepared from the books and records without audit, and Are prepared in accordance with the instructions for Form 10-Q and do not include all of the information required by accounting principles generally accepted in the United States for complete statements, but Include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial statements. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Supplementary Data contained in our 2025 Annual Report on Form 10-K. Business Description Belden is a leading global supplier of complete connection solutions that unlock untold possibilities for our customers, their customers and the world. We advance ideas and technologies that enable a safer, smarter and more prosperous future. Throughout our 120-plus year history we have evolved as a company, but making connections remains our purpose. We sell our products to distributors, end-users, installers, and directly to original equipment manufacturers (OEMs). We …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Subsequent Events On July 1, 2026, we acquired certain entities that comprise Ruckus Networks (RUCKUS) for approximately $1.9 billion. To fund the purchase of RUCKUS, we entered into a Term Loan Credit Facility on July 1, 2026. The Term Loan Credit Facility bears interest either, at the Companys election, at term SOFR plus 2.25% or a base rate plus 1.25% per annum. 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. Product offerings include indoor cellular solutions such as indoor and outdoor Wi-Fi and long-term evolution access points, access and aggregation switches; an Internet of Things suite, on-premises and cloud-based control and management systems; and software and software-as-a-service applications addressing security, location, reporting and analytics. We are in the preliminary phase of the purchase accounting process, including obtaining third party valuations of certain tangible and intangible assets acquired. 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. We expect; however, to record a significant amount of definite-lived intangible assets and goodwill related to this acquisition. Also on June 29, 2026, we borrowed $50.0 million on our Revolver at a current rate of 4.9%. See Note 8. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing