Financial Analysis

Acquisitions Acquisition of M&C On May 6, 2025, the Company acquired 100% of the common stock of M&C in an all-cash transaction valued at approximately $189 million, net of cash acquired. Headquartered in Ratingen, Germany, M&C provides a comprehensive range of gas analysis systems that detect, measure and monitor gases in critical environments. M&C's product portfolio includes systems and solutions for gas sampling, gas conditioning, as well as advanced process control. M&C products and systems are used in a wide range of industries and applications, including energy, chemicals, utilities, manufacturing, food and beverage, and other industrial applications. M&Cs operating results are included in our consolidated financial statements from the acquisition date within the Americas and International reportable segments. The acquisition qualified as a business combination and was accounted for using the acquisition method of accounting. The following table summarizes the preliminary fair values of the M&Cs assets acquired and liabilities assumed at the date of the acquisition: (In millions) May 6, 2025 Current assets (including cash of $10.0) $ 38.8 Property, plant and equipment and other noncurrent assets 50.0 Customer relationships and other intangible assets 66.6 Goodwill 91.6 Total assets acquired $ 247.0 Deferred tax liability (24.9) Other liabilities (22.8) Total liabilities assumed $ (47.7) Net assets acquired $ 199.3 As of December 31, 2025, th …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

"Contingencies Product liability The Company and its subsidiaries face an inherent business risk of exposure to product liability claims arising from the alleged failure of our products to prevent the types of personal injury or death against which they are designed to protect. Single incident product liability claims. Single incident product liability claims involve incidents of short duration that are typically known when they occur and involve observable injuries, which provide an objective basis for quantifying damages. Management has established reserves for the single incident product liability claims of the Company's various subsidiaries, including asserted single incident product liability claims and incurred but not reported (""IBNR"") single incident claims. To determine the reserves, Management makes reasonable estimates of losses for single incident claims based on the number and characteristics of asserted claims, historical experience, sales volumes, expected settlement costs, and other relevant information. Cumulative trauma product liability claims. Cumulative trauma product liability claims involve alleged exposures to harmful substances (e.g., silica, asbestos and coal dust) that occurred years ago and may have developed over long periods of time into diseases such as silicosis, asbestosis, mesothelioma, or coal workers pneumoconiosis. A former subsidiary of the Company, Mine Safety Appliances Company, LLC (""MSA LLC""), which was divested as described below …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Long-Term Debt Long-Term Debt December 31, (In thousands) 2025 2024 2016 Senior Notes payable through 2031, 3.40%, net of debt issuance costs $ 49,278 $ 53,400 2021 Senior Notes payable through 2036, 2.69%, net of debt issuance costs 99,776 99,754 2021 Senior Notes payable through 2036, 2.69%, net of debt issuance costs 99,776 99,754 Senior revolving credit facility maturing in 2030, net of debt issuance costs 282,137 2023 Term Loan credit agreement maturing in 2026, net of debt issuance costs 205,152 2023 Senior Notes payable through 2028, 5.25%, net of debt issuance costs 49,967 49,953 Total 580,934 508,013 Amounts due within one year 8,225 26,391 Long-term debt, net of debt issuance costs $ 572,709 $ 481,622 On April 1, 2025, the Company entered into a Fifth Amended and Restated Credit Agreement (the Revolving Credit Facility"" or ""Facility) with a capacity of $1.3 billion. Under the amended agreement, the Company may elect either a Base rate of interest (BASE) or an interest rate based on Secured Overnight Financing Rate (SOFR). The BASE is a daily fluctuating per annum rate equal to the highest of (i) the Overnight Bank Funding Rate, plus 0.5%, (ii) the Prime Rate (iii) the Daily Simple SOFR rate, plus 1.00%. The Company pays a credit spread of 0 to 175 basis points based on the Companys net leverage ratio and elected rate (BASE or SOFR). The Company has a weighted average revolver interest rate of 4.56% as of December 31, 2025. At December 31, 2025, $1.0 billion of th …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Stock Plans The 2023 Management Equity Incentive Plan and its predecessor, the 2016 Management Equity Incentive Plan, provide for various forms of stock-based compensation for eligible employees through, in the case of the 2023 Management Equity Incentive Plan, May 2033, including stock options, restricted stock awards, restricted stock units and performance stock units. The 2024 Non-Employee Directors' Equity Incentive Plan and its predecessor, the 2017 Non-Employee Directors Equity Incentive Plan provides for grants of stock options and restricted stock to non-employee directors through, in the case of the 2024 Non-Employee Directors' Equity Incentive Plan, May 2034. Stock options are granted at market prices and expire after ten years. The 2014 MSA Employee Stock Purchase Plan (ESPP) permits eligible employees to purchase the Company's shares of common stock at a 15% discount from fair market value, semi-annually, from the stock market. The ESPP plan is considered a compensatory plan. The discount is recorded as a component of selling, general and administrative expense in the Company's Consolidated Statements of Operations. As of December 31, 2025, there were 1,612,699; 79,844; and 53,126 shares, respectively, reserved for future grants under the management and non-employee directors equity incentive and employee stock purchase plans. Stock options are exercisable beginning three years after the grant date. Restricted stock and restricted stock units are granted without p …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Intangible Assets Changes in goodwill during the years ended December 31, 2025 and 2024, were as follows: (In thousands) 2025 2024 Balance at January 1 $ 620,895 $ 627,534 Additions and measurement period adjustments (Note 15) 91,616 Currency translation 19,081 (6,639) Balance at December 31 $ 731,592 $ 620,895 At December 31, 2025, goodwill of $481.4 million and $250.2 million related to the Americas and International reportable segments, respectively. Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2025 and 2024, were as follows: (In thousands) 2025 2024 Net balance at January 1 $ 246,437 $ 266,134 Additions (Note 15) 66,568 Amortization expense (20,658) (17,826) Currency translation 6,780 (1,871) Net balance at December 31 $ 299,127 $ 246,437 (In millions) December 31, 2025 December 31, 2024 Intangible Assets: Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships 20 $ 232.2 $ (69.9) $ 162.3 $ 179.7 $ (55.7) $ 124.0 Distribution agreements 20 65.7 (36.4) 29.3 65.7 (33.3) 32.4 Technology related assets 9 59.4 (39.7) 19.7 49.6 (35.5) 14.1 Patents, trademarks and copyrights 19 48.6 (21.0) 27.6 34.1 (18.2) 15.9 Other 3 3.1 (2.9) 0.2 2.8 (2.8) Total 19 $ 409.0 $ (169.9) $ 239.1 $ 337.3 $ (150.9) $ 186.4 At December 31, 2025, the intangible assets balance includes a trade name re …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Income Taxes The Company adopted ASU No. 2023-09 (ASU 2023-09), Improvements to Income Tax Disclosures , applying it prospectively for the year ended December 31, 2025. (In thousands) 2025 2024 2023 Components of income before income taxes U.S. income $ 242,979 $ 243,129 $ 80,229 Non-U.S. income 123,419 131,877 126,459 Income before income taxes $ 366,398 $ 375,006 $ 206,688 Provision for income taxes Current Federal $ 46,980 $ 47,060 $ 49,642 State 9,981 12,868 9,510 Non-U.S. 35,475 30,209 27,101 Total current provision $ 92,436 $ 90,137 $ 86,253 Deferred Federal $ 2,666 $ (3,141) $ 54,272 State (1,503) 1,046 12,914 Non-U.S. (6,125) 1,997 (5,334) Total deferred provision (benefit) (4,962) (98) 61,852 Provision for income taxes $ 87,474 $ 90,039 $ 148,105 Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025: 2025 (in thousands, except percentages) Amount Percent U.S. federal statutory income tax $ 76,944 21.0 % State and local income taxes, net of federal income tax effect (1) 6,652 1.8 % Foreign tax effects 5,700 1.6 % Nontaxable or nondeductible items 2,606 0.7 % Effect of cross-border tax laws (149) % Tax credits (3,891) (1.1) % Changes in unrecognized tax benefits (420) (0.1) % Other 32 % Provision for income taxes $ 87,474 23.9 % (1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, Illinois, Maryland, Indiana, New Hampshire, P …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows: Year Ended December 31, (In millions, except percentage and year amounts) 2025 2024 Lease cost: Operating lease cost recognized as rent expense $ 16.0 $ 13.7 Total lease cost $ 16.0 $ 13.7 Other Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 16.1 $ 13.5 Non-cash other information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 10.0 $ 12.2 Right-of-use assets obtained in acquisitions 0.8 December 31, 2025 2024 Weighted-average remaining lease term (in years): Operating leases 10 11 Weighted-average discount rate: Operating leases 3.97 % 3.81 % Rent expense was $16.0 million, $13.7 million and $12.0 million in 2025, 2024 and 2023, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced. At December 31, 2025, future lease payments under operating leases were as follows: (In millions) Operating Leases 2026 $ 15.2 2027 11.9 2028 9.3 2029 7.0 2030 4.5 After 2030 21.4 $ 69.3 Less: Imputed interest 9.9 Present value of operating lease liabilities 59.4 Less: Current portion operating lease liabilities (a) 13.2 Noncurrent operating lease liabilities $ 46.2 (a) Included in Other current liabilities on the Conso …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recently Issued Accounting Standards and Disclosure Rules In November 2024, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update No. 2024-03 (ASU 2024-03), Disaggregation of Income Statement Expenses (DISE) . ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. As revised by ASU No. 2025-01, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures , the provisions of ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. With the exception of expanding disclosures to include more granular income statement expense categories, we do not expect the adoption of ASU 2024-03 to have a material effect on our consolidated financial statements taken as a whole. In September 2025, the FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software . ASU 2025-06 amends certain aspects of the accounting for software costs under ASC 350-40. ASU 2025-06 makes targeted improvements to ASC 350-40, but does not fully align the framework for accounting for internally develo …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Pensions and Other Post-retirement Benefits We maintain various defined benefit and defined contribution plans covering the majority of our employees. Our principal U.S. plan is funded in compliance with the Employee Retirement Income Security Act (""ERISA""). It is our general policy to fund current costs for the international plans according to local requirements and general market practice. We provide health care benefits and limited life insurance for certain retired employees who are covered by our principal U.S. defined benefit pension plan until they become Medicare-eligible. Defined benefit pension plan and other post-retirement benefits plan information is provided in the following tables: Pension Benefits Other Benefits (In thousands) 2025 2024 2025 2024 Change in Benefit Obligations Benefit obligations at January 1 $ 474,484 $ 521,474 $ 22,046 $ 21,386 Service cost 8,118 9,214 124 176 Interest cost 24,178 23,307 1,104 994 Participant contributions 165 232 222 285 Plan amendments 605 (20) Actuarial (gains) losses (a) (5,524) (27,259) (569) 1,696 Benefits paid (29,818) (28,159) (2,269) (2,491) Settlements (2,282) (17,576) Acquisitions 8,554 Currency translation 11,263 (6,729) Benefit obligations at December 31 $ 489,743 $ 474,484 $ 20,658 $ 22,046 Change in Plan Assets Fair value of plan assets at January 1 $ 580,364 $ 563,449 $ $ Actual return on plan assets 83,400 55,610 Employer contributions 6,644 7,877 2,047 2,206 Participant contributions 165 232 222 285 Settl …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring Charges During the years ended December 31, 2025, 2024 and 2023, we recorded restructuring charges of $3.9 million, $6.4 million and $9.9 million, respectively. These charges were primarily related to our ongoing initiatives to adjust our cost structure, improve productivity, and right-size the organization in response to macroeconomic conditions. Americas segment restructuring charges of $1.2 million during the year ended December 31, 2025, were to right-size the organization in response to macroeconomic conditions. International segment restructuring charges of $1.7 million during the year ended December 31, 2025, were related to ongoing initiatives to optimize our manufacturing footprint and right-size the organization in response to macroeconomic conditions. Corporate related restructuring charges of $1.0 million during the year ended December 31, 2025, were to right-size the organization in response to macroeconomic conditions. Americas segment restructuring charges of $1.6 million during the year ended December 31, 2024, were related to manufacturing footprint optimization activities. International segment restructuring charges of $3.5 million during the year ended December 31, 2024, were related to ongoing initiatives to optimize our manufacturing footprint and improve productivity as well as management restructuring. Corporate related restructuring charges of $1.3 million during the year ended December 31, 2024, were related to management restructuring. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition We generate revenue primarily from manufacturing and selling a comprehensive line of safety products and solutions to protect the health and safety of workers and facility infrastructures around the world. Our customers generally fall into two categories: distributors and end-users. All customer categories have similar nature, timing and uncertainty related to cash flows. As a result, the underlying principles of revenue recognition are identical for both categories of customers. We account for revenue in accordance with ASC 606, Revenue from Contracts with Customers . Revenue from the sale of products and solutions is recognized when there is persuasive evidence of an arrangement and control passes to the customer, which generally occurs either when product is shipped to the customer or, in the case of certain customers, when product is delivered to the customer's site. We establish our shipping terms according to local practice and market characteristics. We do not ship product unless we have an order or other documentation authorizing shipment to our customers. Our payment terms vary by the type and location of our customer and the products and solutions offered; however, in most cases, the term between invoicing and when payment is due is not significant. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Amounts billed and due from our customers are classified as receivable …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Segment Information The Company is organized into four geographical operating segments that are based on management responsibilities: Northern North America; Latin America; Europe, Middle East & Africa; and Asia Pacific. The operating segments have been aggregated (based on economic similarities, the nature of their products and solutions, end-user markets and methods of distribution) into two reportable segments: Americas and International. The Americas segment is comprised of our operations in Northern North America and Latin America geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived. General and administrative expenses incurred in our corporate headquarters, costs associated with corporate development initiatives, legal expense, interest expense, foreign exchange gains or losses and other centrally-managed costs are considered corporate expenses and are not allocated to the reportable segments. The Company's sales are allocated to each segment based primarily on the country destination of the end-customer. The Company adopted ASU No. 2023-07 (ASU 2023-07), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures for the year ended December 31, 2024 and applied it retrospectively for all prior periods presented. Adjusted operating income is the measure used …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Significant Accounting Policies General Information and Basis of Presentation The consolidated financial statements of MSA Safety Incorporated (""MSA"" or ""the Company"") are prepared in conformity with accounting principles generally accepted in the United States of America (""U.S. GAAP"") and require management to make certain judgments, estimates, and assumptions. These may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements. They also may affect the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates upon subsequent resolution of identified matters. Principles of Consolidation The consolidated financial statements include the accounts of the Company and all subsidiaries. Intercompany accounts and transactions are eliminated. Reclassifications Certain reclassifications of prior years' results have been made to conform to the current year presentation. These reclassifications relate to aligning prior year Other income, net, and Segment Information disclosures with current year presentation. Currency Translation The functional currency of all significant non-U.S. operating subsidiaries is the local country currency. Assets and liabilities of these operations are translated at year-end exchange rates. Income statement accounts are translated using the average exchange rates for the reporting period …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Capital Stock Preferred Stock The Company has authorized 100,000 shares of $50 par value 4.5% cumulative preferred nonvoting stock which is callable at $52.50. There were 71,340 shares issued and 52,998 shares held in treasury at both December 31, 2025 and 2024. The Treasury shares at cost line of the Consolidated Balance Sheets includes $1.8 million related to preferred stock. There were no shares of preferred stock purchased and subsequently held in treasury during the years ended December 31, 2025, or 2024. The Company has also authorized 1,000,000 shares of $10 par value second cumulative preferred voting stock. No shares have been issued as of December 31, 2025 or 2024. Common Stock The Company has authorized 180,000,000 shares of no par value common stock. There were 62,081,391 shares issued as of December 31, 2025 and December 31, 2024. No new shares were issued during the years ended December 31, 2025, or 2024. There were 38,912,629 and 39,260,080 shares outstanding at December 31, 2025 and 2024, respectively. Treasury Shares The Company's 2024 stock repurchase program authorizes up to $200.0 million to repurchase MSA common stock in the open market and in private transactions. The share repurchase program has no expiration date. The maximum number of shares that may be purchased is calculated based on the dollars remaining under the program and the respective month-end closing share price. Under this and prior stock repurchase programs, there were 501,420 shares repu …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Acquisitions Acquisition of M&C On May 6, 2025, the Company acquired 100% of the common stock of M&C in an all-cash transaction valued at approximately $189 million, net of cash acquired. Headquartered in Ratingen, Germany, M&C provides a comprehensive range of gas analysis systems that detect, measure, and monitor gases in critical environments. M&C's product portfolio includes systems and solutions for gas sampling, gas conditioning, as well as advanced process control. M&C products and systems are used in a wide range of industries and applications, including energy, chemicals, utilities, manufacturing, food and beverage, and other industrial applications. M&Cs operating results are included in our consolidated financial statements from the acquisition date within the Americas and International reportable segments. The acquisition qualified as a business combination and was accounted for using the acquisition method of accounting. The Company finalized the purchase price allocation during the second quarter of 2026. The following table summarizes the fair values of the M&C assets acquired and liabilities assumed at the date of the acquisition: (In millions) May 6, 2025 Current assets (including cash of $10.0) $ 38.8 Property, plant and equipment and other noncurrent assets 50.0 Customer relationships and other intangible assets 66.6 Goodwill 91.6 Total assets acquired $ 247.0 Deferred tax liability (24.9) Other liabilities (22.8) Total liabiliti …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies Product liability The Company and its subsidiaries face an inherent business risk of exposure to product liability claims arising from the alleged failure of our products to prevent the types of personal injury or death against which they are designed to protect. Single incident product liability claims. Single incident product liability claims involve incidents of short duration that are typically known when they occur and involve observable injuries, which provide an objective basis for quantifying damages. Management has established reserves for the single incident product liability claims of the Company's various subsidiaries, including asserted single incident product liability claims and incurred but not reported (IBNR) single incident claims. To determine the reserves, Management makes reasonable estimates of losses for single incident claims based on the number and characteristics of asserted claims, historical experience, sales volumes, expected settlement costs, and other relevant information. Cumulative trauma product liability claims. Cumulative trauma product liability claims involve alleged exposures to harmful substances (e.g., silica, asbestos and coal dust) that occurred years ago and may have developed over long periods of time into diseases such as silicosis, asbestosis, mesothelioma, or coal workers pneumoconiosis. A former subsidiary of the Company, Mine Safety Appliances Company, LLC (MSA LLC), which was divested on January …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Long-Term Debt (In thousands) June 30, 2026 December 31, 2025 2016 Senior Notes payable through 2031, 3.40%, net of debt issuance costs $ 40,417 $ 49,278 2021 Senior Notes payable through 2036, 2.69%, net of debt issuance costs 99,786 99,776 2021 Senior Notes payable through 2036, 2.69%, net of debt issuance costs 99,786 99,776 Senior revolving credit facility maturing in 2030, net of debt issuance costs 309,782 282,137 2023 Senior Notes payable through 2028, 5.25%, net of debt issuance costs 49,973 49,967 Total 599,744 580,934 Amounts due within one year 8,096 8,225 Long-term debt, net of debt issuance costs $ 591,648 $ 572,709 On April 1, 2025, the Company entered into a Fifth Amended and Restated Credit Agreement (the Revolving Credit Facility or Facility) with a capacity of $1.3 billion. Under the amended agreement, the Company may elect either a Base rate of interest (BASE) or an interest rate based on Secured Overnight Financing Rate (SOFR). The BASE is a daily fluctuating per annum rate equal to the highest of (i) the Overnight Bank Funding Rate, plus 0.5%, (ii) the Prime Rate, and (iii) the Daily Simple SOFR rate, plus 1.00%. The Company pays a credit spread of 0 to 175 basis points based on the Companys net leverage ratio and elected rate (BASE or SOFR). The Company has a weighted average revolver interest rate of 4.31% as of June 30, 2026. At June 30, 2026, $986.0 million of the existing $1.3 billion revolving credit facility was unused, including letters of credit …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Stock Plans The 2023 Management Equity Incentive Plan and its predecessor, the 2016 Management Equity Incentive Plan, provide for various forms of stock-based compensation for eligible employees through, in the case of the 2023 Management Equity Incentive Plan, May 2033, including stock options, restricted stock awards, restricted stock units, and performance stock units. The 2024 Non-Employee Directors Equity Incentive Plan and its predecessor, the 2017 Non-Employee Directors Equity Incentive Plan, provide for grants of stock options and restricted stock to non-employee directors through, in the case of the 2024 Non-Employee Directors Equity Incentive Plan, May 2034. The 2014 MSA Employee Stock Purchase Plan (ESPP) permits eligible employees to purchase the Company's shares of common stock at a 15% discount from the fair market value, semi-annually, from the stock market. The ESPP is considered a compensatory plan. The discount is recorded as a component of selling, general and administrative expense in the Company's unaudited Condensed Consolidated Statements of Income. Stock compensation expense, included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income, is as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2026 2025 2026 2025 Stock compensation expense $ 7,809 $ 5,370 $ 11,621 $ 7,999 Income tax benefit 1,866 1,327 2,777 1,976 Stock compensation expense, net of tax $ 5,943 $ 4,043 $ 8 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Intangible Assets, Net Changes in goodwill during the six months ended June 30, 2026, were as follows: (In thousands) Goodwill Balance at January 1, 2026 $ 731,592 Currency translation (5,537) Balance at June 30, 2026 $ 726,055 At June 30, 2026, goodwill of $481.4 million and $244.7 million related to the Americas and International reportable segments, respectively. Changes in intangible assets, net, during the six months ended June 30, 2026, were as follows: (In thousands) Intangible Assets Net balance at January 1, 2026 $ 299,127 Amortization expense (10,934) Currency translation (2,472) Net balance at June 30, 2026 $ 285,721 At June 30, 2026, intangible assets, net, includes a trade name related to Globe Manufacturing Company, LLC (Globe) with an indefinite life totaling $60.0 million …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Income Taxes The Company's effective tax rate for the three months ended June 30, 2026, was 22.6%, which differs from the United States of America (""U.S."") federal statutory rate of 21.0%, primarily due to state income taxes, partially offset by benefits associated with the finalization of initial global minimum corporate tax return filings (referred to as Pillar 2). The Company's effective tax rate for the three months ended June 30, 2025, was 24.1%, which differs from the U.S. federal statutory rate of 21.0%, primarily due to state income taxes and nondeductible executive compensation. The Company's effective tax rate for the six months ended June 30, 2026, was 23.0%, which differs from the U.S. federal statutory rate of 21.0%, primarily due to state income taxes, partially offset by benefits associated with the finalization of initial global minimum corporate tax return filings (referred to as Pillar 2). The Company's effective tax rate for the six months ended June 30, 2025, was 23.8%, which differs from the U.S. federal statutory rate of 21.0%, primarily due to state income taxes and nondeductible executive compensation. At June 30, 2026, the Company had a gross liability for unrecognized tax benefits of $4.3 million. The Company has recognized tax benefits associated with these liabilities of $1.5 million at June 30, 2026. The gross liability includes amounts associated with domestic and foreign tax exposure in prior periods. The Company recognizes interest and penal …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"In the first quarter 2026, the Company early adopted Accounting Standards Update (""ASU"") 2025-06, Targeted Improvements to the Accounting for Internal-Use Software . The ASU updates guidance related to recognition and capitalization costs incurred to develop or obtain internal-use software, including certain cloud-based software arrangements, and clarifies related disclosure requirements. The company adopted the ASU prospectively as of January 1, 2026, in accordance with the transition provisions of the standard. Accordingly, amounts capitalized prior to the adoption date were not adjusted, and the new guidance applies only to qualifying costs incurred after adoption. Therefore, the adoption of the standard did not have an impact on the Companys condensed consolidated financial statements for the six months ended June 30, 2026."

NewAccountingPronouncementsPolicyPolicyTextBlock

Pensions and Other Post-retirement Benefits Components of Net periodic benefit (income) cost consisted of the following: Pension Benefits Other Benefits (In thousands) 2026 2025 2026 2025 Three Months Ended June 30, Service cost $ 2,013 $ 2,007 $ 21 $ 31 Interest cost 5,782 5,979 228 276 Expected return on plan assets (12,418) (12,005) Amortization of prior service cost 40 32 Recognized net actuarial losses 205 197 127 163 Settlements 721 Net periodic benefit (income) cost (a) $ (4,378) $ (3,069) $ 376 $ 470 Six Months Ended June 30, Service cost $ 4,026 $ 4,001 $ 42 $ 62 Interest cost 11,564 11,913 455 552 Expected return on plan assets (24,836) (24,010) Amortization of prior service cost 80 64 Recognized net actuarial losses 410 394 254 326 Settlements 721 Net periodic benefit (income) cost (a) $ (8,756) $ (6,917) $ 751 $ 940 (a) Components of Net periodic benefit (income) cost other than service cost are included in the line item Other income, net, and service costs are included in the line items Cost of products sold and Selling, general and administrative in the unaudited Condensed Consolidated Statements of Income. We made contributions of $4.5 million and $3.7 million to our pension plans during the six months ended June 30, 2026, and 2025, respectively. We expect to make net contributions between $8 million and $10 million to our pension plans in 2026, which are primarily associated with statutorily required plans in the International reporting segment. …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring Charges During the three and six months ended June 30, 2026, we recorded $2.2 and $4.5 million of restructuring charges. Americas and International segments' restructuring charges of $1.3 million and $1.3 million, respectively, during the six months ended June 30, 2026, were primarily related to footprint optimization and other ongoing initiatives to right-size the organization in response to macroeconomic conditions. Corporate related restructuring charges of $1.9 million during the six months ended June 30, 2026, were related to management restructuring and to ongoing initiatives to right-size the organization in response to macroeconomic conditions. During the three and six months ended June 30, 2025, we recorded restructuring charges of $0.5 million and $2.4 million. Americas segment restructuring charges of $0.5 million during the six months ended June 30, 2025, were related to initiatives to right-size the organization in response to macroeconomic conditions. International segment restructuring charges of $1.0 million during the six months ended June 30, 2025, were primarily related to ongoing initiatives to optimize our manufacturing footprint and initiatives to right-size the organization in response to macroeconomic conditions. Corporate segment restructuring charges of $0.9 million during the six months ended June 30, 2025, were related to initiatives to right-size the organization in response to macroeconomic conditions. Restructuring reserves are inc …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition We are the global leader in advanced industrial safety technology products and solutions, and generate revenue primarily from manufacturing and selling a comprehensive line of safety products and solutions to protect the health and safety of workers and facility infrastructures around the world. Our customers generally fall into two categories: distributors and end-users. All customer categories have similar nature, timing, and uncertainty related to cash flows. As a result, the underlying principles of revenue recognition are identical for both categories of customers. We account for revenue in accordance with ASC 606, Revenue from Contracts with Customers . Revenue from the sale of products and solutions is recognized when there is persuasive evidence of an arrangement and control passes to the customer, which generally occurs either when product is shipped to the customer or, in the case of certain customers, when product is delivered to the customer's site. We establish our shipping terms according to local practice and market characteristics. We do not ship product unless we have an order or other documentation authorizing shipment to our customers. Our payment terms vary by the type and location of our customer and the products and solutions offered; however, in most cases, the term between invoicing and when payment is due is not significant. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods o …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Segment Information The Company is organized into four geographical operating segments that are based on management responsibilities: Northern North America; Latin America; Europe, Middle East & Africa; and Asia Pacific. The operating segments have been aggregated (based on economic similarities, the nature of their products and solutions, end-user markets, and methods of distribution) into two reportable segments: Americas and International. The Americas segment is comprised of our operations in Northern North America and Latin America geographies. The International segment is comprised of our operations in all geographies outside of the Americas. Certain global expenses are allocated to each segment in a manner consistent with where the benefits from the expenses are derived. The Company's sales are allocated to each segment based primarily on the destination country of the end-customer. Adjusted operating income is the measure used by the chief operating decision maker, identified as our President and Chief Executive Officer, to evaluate reportable segment performance and identify opportunities when allocating resources. Adjusted operating income is defined as operating income excluding restructuring charges, currency exchange, transaction costs, and acquisition-related amortization. The accounting principles applied at the operating segment level in determining the segment measure of profit or loss are the same as those applied at the unaudited condensed consolidated …

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Capital Stock Preferred Stock - The Company has authorized 100,000 shares of $50 par value 4.5% cumulative preferred nonvoting stock, which is callable at $52.50. There were 71,340 shares issued and 52,998 shares held in treasury at both June 30, 2026, and December 31, 2025. The Treasury shares at cost line in the unaudited Condensed Consolidated Balance Sheets includes $1.8 million related to preferred stock. There were no shares of preferred stock purchased and subsequently held in treasury during the six months ended June 30, 2026, or 2025. The Company has also authorized 1,000,000 shares of $10 par value second cumulative preferred voting stock. No shares have been issued as of June 30, 2026, or December 31, 2025. Common Stock - The Company has authorized 180,000,000 shares of no par value common stock. There were 62,081,391 shares issued as of June 30, 2026, and December 31, 2025. No new shares were issued during the six months ended June 30, 2026, or 2025. There were 38,604,306 and 38,912,629 shares outstanding at June 30, 2026, and December 31, 2025, respectively. Treasury Shares - The Company's 2026 stock repurchase program authorizes up to $500.0 million to repurchase MSA common stock in the open market and in private transactions. The stock repurchase program has no expiration date. The maximum number of shares that may be repurchased is calculated based on the dollars remaining under the program and the respective month-end closing share price. During the six month …

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Subsequent Event On July 9, 2026, the Company completed its acquisition of 100% of the common stock of Autronica Fire and Security (Autronica) for approximately $555 million in cash, net of cash acquired and subject to customary purchase price adjustments. Headquartered in Norway and employing approximately 500 employees worldwide, Autronica is a designer, manufacturer and supplier of fire detection, gas detection and alarm systems. Autronica serves the critical infrastructure, energy and maritime sectors. The transaction was funded through a combination of cash on hand and borrowings under our existing credit facility. The initial accounting for the acquisition, including the determination of the consideration transferred and the fair values of the assets acquired and liabilities assumed, is not yet complete. Disclosure related to the preliminary identification and measurement of identifiable assets acquired and liabilities assumed, including the allocation of the purchase price and determination of goodwill, will be provided in the third quarter Form 10-Q and will be further refined throughout the one year measurement period. Furthermore, higher corporate development expenses attributable to various transaction closing costs, as well as increased variable compensation costs associated with higher performance stock expense, are anticipated to be recognized in the third quarter. …

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