“Selling, general and administrative expenses (“SG&A”) The 1.7 percentage point increase in SG&A as a percentage of net sales in the first quarter of 2026 from 2025 was primarily driven by: • restructuring and other costs of $21.4 million in the first quarter of 2026, compared to $10.5 million in the first quarter of 2025; and • transformation costs of $11.5 million in the first quarter of 2026, compared to $9.1 million in the first quarter of 2025.”
“Net interest expense The 2.0 percent increase in net interest expense in the first quarter of 2026 from 2025 was primarily driven by: • a reduction of interest income due to lower cash balances in the first quarter of 2026 compared to the first quarter of 2025.”