UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-K

~~☑ ANNUAL~~☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

for the fiscal year ended March 2928, ~~2025~~2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

for the transition period from __________to _________

Commission file number 001-40840

RBC BEARINGS INCORPORATED

(Exact name of registrant as specified in its charter)

Delaware		95-4372080
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
(State or other jurisdiction of		(I.R.S. Employer
One Tribology Center, Oxford, CT		06478
incorporation or organization)		Identification No.)
(Address of principal executive offices)		(Zip Code)

One Tribology Center, Oxford, CT		06478
(Address of principal executive offices)		(Zip Code)

(203) 267-7001

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share		RBC		The New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑☒ No ☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑☒

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or Section 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☑☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑ ☒

The aggregate market value of the registrant’s Common Stock held by non-affiliates of the registrant on September 2827, ~~2024~~2025 (based on the September 2726, ~~2024~~2025 closing sales price of $~~299~~384.87 82 of the registrant’s Common Stock, as reported by the New York Stock Exchange) was approximately $812,~~806~~165,~~471~~027,~~608~~584.

As of May 98, ~~2025~~2026, RBC Bearings Incorporated had 31,~~478~~635,~~058~~359 shares of Common Stock.

Documents Incorporated by Reference:

Portions of the registrant’s proxy statement to be filed within 120 days of the close of the registrant’s fiscal year in connection with the registrant’s Annual Meeting of Stockholders to be held on or about September 43, ~~2025~~2026, are incorporated by reference into Part III of this Form 10-K.

Auditor Firm ID: 00042

Auditor Name: Ernst & Young LLP

Auditor Location: Hartford, CT

TABLE OF CONTENTS

		Page
PART I
Item 1	Business	1
Item 1A	Risk Factors	8
Item 1B	Unresolved Staff Comments	1516
Item 1C	Cybersecurity	1516
Item 2	Properties	1617
Item 3	Legal Proceedings	1617
Item 4	Mine Safety Disclosures	1617
PART II
Item 5	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	1718
Item 6	[Reserved]	19
Item 7	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1920
Item 7A	Quantitative and Qualitative Disclosures About Market Risk	2931
Item 8	Financial Statements and Supplementary Data	3032
Item 9	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	6266
Item 9A	Controls and Procedures	6266
Item 9B	Other Information	6569
Item 9C	Disclosure Regarding Foreign Jurisdictions That Prevent Inspections	6569
PART III
Item 10	Directors, Executive Officers and Corporate Governance
Item 11	Executive Compensation
Item 12	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 13	Certain Relationships, Related Transactions and Director Independence
Item 14	Principal Accounting Fees and Services
PART IV
Item 15	Exhibits and Financial Statement Schedules	6771
Signatures	~~Signatures~~	6973

PART I

ITEM 1. BUSINESS

RBC Bearings Incorporated

RBC Bearings Incorporated, together with its subsidiaries, is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems for the ~~aerospace,~~Industrial ~~defense~~ and ~~industrial~~Aerospace ~~industries~~& Defense markets. Our precision solutions are integral to the manufacture and operation of most machines and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction, and control pressure and flow. The terms “we,” “us,” “our,” “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. While we manufacture products in all major categories, we focus primarily on the higher end of the bearing, gearing and engineered ~~component~~ component markets where we believe our value-added engineering and manufacturing capabilities, and application expertise enable us to ~~differentiate~~ differentiate ourselves from our competitors and enhance profitability. We believe our expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. With 5465 facilities in 11 countries, of which 3844 are manufacturing facilities, we we have been able to significantly broaden our end markets, products, customer base and geographic reach.

All quantitative data contained in this Annual Report on Form 10-K (the “Annual Report”) is stated in millions, except for share and per-share data, number of facilities, ~~and~~ headcount, or where otherwise noted.

The Bearing, Gearing and Engineered Component Industry

The bearing, gearing and engineered component industry is a fragmented multi-billion-dollar market. Purchasers of bearings, gearing and engineered components include producers of commercial and military aircraft, submarines, military vehicles, energy equipment, warehousing and logistics systems, industrial equipment, automation systems, construction machinery, rail and transportation equipment, packaging and canning machinery, agriculture and mining equipment, and other forms of specialized equipment, as well as distributors who service the aftermarket for these products.

Demand for bearings, gearing and precision components in the diversified industrial market is influenced by growth factors in industrial machinery ~~and~~ and equipment shipments, and construction, mining, energy, food and beverage, packaging and canning, semiconductor, and general ~~industrial~~ industrial activity. In addition, usage of existing machinery will impact aftermarket demand for replacement products. In the commercial aerospace market, new aircraft build rates along with carrier traffic volumes worldwide determine demand for our solutions. Activity in the defense market is influenced by modernization programs necessitating spending on new equipment, as well as continued utilization of deployed equipment supporting aftermarket demand for replacement bearings, gearing and engineered components.

Customers and Markets

We serve a broad range of end markets where we can add value with our specialty precision bearings, essential systems and engineered components. We classify our customers into two principal categories: ~~industrial~~Industrial and ~~aerospace/defense~~Aerospace & Defense. These ~~principal~~segments ~~end markets~~ utilize a large number of both commercial and specialized bearings, gearings and engineered components. Although we provide a relatively small percentage of total bearings, gearings and engineered components supplied to each of our principal markets, we believe we have leading market positions in many of the specialized product markets in which we primarily compete. Financial information regarding geographic areas is set forth in Part II, Item 8, Note 19 of this Annual Report on Form 10-K.

Industrial ~~Market~~ Market (6458% of net sales for the fiscal year ended March 2928, ~~2025~~2026)

We manufacture bearings, gearing and engineered components for a wide range of diversified industrial markets, including multi-industry manufacturing, construction, metals and mining, aggregate and cement, food and beverage, oil and natural resource extraction, forest products, warehousing and logistics, grain, transportation, packaging and canning, semiconductor equipment, power generation, waste and water management, and other general industrial markets. Our products target market applications in which our engineering and manufacturing capabilities provide us with a competitive advantage in the marketplace.

Our largest industrial customers include Caterpillar, Komatsu and Halliburton and various aftermarket distributors including Motion Industries, Applied Industrial, Baldwin Supply, BDI and Purvis Industries. We believe that the diversification of our sales among the various segments of the industrial markets and channels reduces our exposure to downturns in any individual segment. We believe opportunities exist for growth and margin improvement in this market as a result of the introduction of new products, the expansion of aftermarket sales, and continued manufacturing process improvements.1

1Our largest industrial customers include Caterpillar, Komatsu and Halliburton and various aftermarket distributors including Motion Industries, Applied Industrial, Baldwin Supply, BDI and Purvis Industries. We believe that the diversification of our sales among the various segments of the industrial markets and channels reduces our exposure to downturns in any individual segment. We believe opportunities exist for growth and margin improvement in this market as a result of the introduction of new products, the expansion of aftermarket sales, and continued manufacturing process improvements.

Aerospace~~/Defense~~ & Defense Market (3642% of net sales for the fiscal year ended March 2928, ~~2025~~2026)

We supply bearings and engineered components for use in commercial, private, and military aircraft and aircraft engines, guided weaponry, space and satellites, vision and optical systems, and military marine and ground applications.

We supply precision products for many of the commercial aircraft currently operating worldwide and are the primary bearing supplier for many of the aircraft OEMs’ product lines. Commercial aerospace customers generally require precision products, often constructed of of special materials and made to unique designs and specifications. Many of our aerospace bearings and engineered component products ~~are~~ are designed and certified during the original development of the aircraft being served, which often makes us the primary bearing ~~supplier~~ supplier for the life of that aircraft.

We manufacture bearings and engineered components used by the U.S. Department of Defense (the “DOD”) and certain foreign governments for use in fighter jets, helicopters, naval vessels, gas turbine engines, armored vehicles, transport vehicles, guided weaponry, and space and satellite applications. We manufacture an extensive line of standard products that conform to many domestic military application requirements, as well as customized products designed for unique applications. Our bearings and engineered components are ~~manufactured~~ manufactured to conform to U.S. military specifications and are typically custom designed during the original product design phase, which often makes us the sole or primary supplier for the life of that product. Product approval for use on military equipment is often a lengthy process ranging from six months to six years.

Our largest ~~aerospace~~Aerospace ~~and defense~~& Defense customers include the ~~U.S. Department of Defense~~DOD, Boeing, Airbus, Newport News Shipbuilding, Lockheed Martin, Northrop Grumman, Raytheon, Blue Origin and SpaceX and various aftermarket distributors including National Precision Bearing. We believe our strong relationships with OEMs help drive our aftermarket sales since a portion of OEM sales are ultimately intended for use as replacement parts. We believe that growth and margin expansion in this market will be driven primarily by expanding our international presence, new commercial aircraft introductions, new products, share gains, and the refurbishment and maintenance of existing commercial and military aircraft.

In fiscal ~~2025~~2026, approximately 3 1% of our net sales were made directly, and we estimate that approximately an additional 97% of our net sales were made indirectly, to the U.S. government. The contracts or subcontracts for these sales may be subject to renegotiation of profit or termination at the election of the U.S. government. Based on experience, we believe that no material renegotiations or refunds will be required. See Part I, Item 1A. “Risk Factors – Future reductions or changes in U.S. government spending could negatively affect our business” of this Annual Report on Form 10-K.

Our two reportable business segments are aligned with the end markets for our products. Operating results for the segments are evaluated regularly by our chief operating decision maker in determining resource allocation and assessing performance. The following table provides a summary of our two reportable business segments: 2

		Net Sales and Percent of Sales for the Fiscal Year Ended (amounts in millions)
Segment		March 29, 2025			March 30, 2024			April 1, 2023		Representative Applications
Industrial	$	1,043.5		$	1,040.9		$	1,039.0		● Heavy machinery and other capital goods manufacturing
		64	%		67	%		71	%	● Mining, energy, aggregates, construction, and material handling ● Food and beverage, grain and agricultural product handling ● Chemicals, oil and gas ● Warehousing and logistics ● Manufacturing automation and semiconductor equipment ● Power generation, waste and water management ● Rail and transportation
Aerospace/Defense	$	592.8 36	%	$	519.4 33	%	$	430.3 29	%	● Airframe flight control and actuation ● Aircraft engines
										● Helicopter rotary systems ● Landing gear ● Missiles and guided munitions ● Optical and targeting systems ● Hydraulics and valves ● Space and satellite applications

		Net Sales and Percent of Sales for the Fiscal Year Ended
Segment		March 28, 2026			March 29, 2025			March 30, 2024		Representative Applications
Industrial	$	1,082.9		$	1,043.5		$	1,040.9		● Heavy machinery and other capital goods manufacturing
		58	%		64	%		67	%	● Mining, energy, aggregates, construction, and material handling ● Food and beverage, grain and agricultural product handling ● Chemicals, oil and gas ● Warehousing and logistics ● Manufacturing automation and semiconductor equipment ● Power generation, waste and water management ● Rail and transportation
Aerospace & Defense	$	788.0 42	%	$	592.8 36	%	$	519.4 33	%	● Airframe flight control and actuation ● Aircraft engines
										● Helicopter rotary systems ● Landing gear ● Missiles and guided munitions ● Optical and targeting systems ● Hydraulics and valves ● Space and satellite applications

Products

Bearings, gearing and engineered components are employed to perform several functions including reduction of friction, transfer of motion, carriage of loads, and control of pressure and flows. We design, manufacture and market a broad portfolio of bearings, gearing and engineered components.

Plain Bearings. Plain bearings are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or heavy mining and construction equipment. Such misalignments are either due to machining inaccuracies or result when components change position relative to each other. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consist of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings.

Roller Bearings. Roller bearings are anti-friction products that utilize cylindrical rolling elements. We produce three main designs: tapered roller bearings, needle roller bearings and needle bearing track rollers, and cam followers. We offer several needle roller bearing designs that are used in both industrial applications and certain U.S. military aircraft platforms where there are high loads and the design is constrained by space considerations. A significant portion of our sales of needle roller bearings is to the aftermarket rather than to OEMs. Needle bearing track rollers and cam followers have wide and diversified use in the industrial market and are often prescribed as a primary component in articulated aircraft wings.

Ball Bearings. Ball bearings are devices that utilize high precision ball elements to reduce friction in high-speed applications. We specialize in four main types of ball bearings: high precision aerospace, airframe control, thin section, and industrial ball bearings. High precision ~~aerospace~~ aerospace bearings are primarily sold to customers in the defense industry that require more technically sophisticated bearing products ~~providing~~ providing a high degree of fault tolerance given the criticality of the applications in which they are used. Airframe control ball bearings ~~are~~ are precision ball bearings that are plated to resist corrosion and are qualified under a military specification. Thin section ball bearings are specialized bearings that use extremely thin cross sections and give specialized machinery manufacturers many advantages. We produce a general line of industrial ball bearings sold primarily to the aftermarket.

Mounted Bearings. Mounted bearings are fully assembled bearings with a wide range of shaft attachment methods, rolling elements, housing materials and configurations offering a variety of sealing solutions. Mounted bearing products include mounted ball bearings, mounted roller bearings and mounted plain bearings, and are used in light to heavy loads, and in clean, corrosive or harsh environments. Mounted roller bearings are pre-machined to allow field installation of the Dodge bearing sensor, adding remote monitoring capability in difficult to access applications and unsafe environments. Applications include unit and bulk material handling, industrial air handling, large rotor fans, food processing, roll-out tables, and forest pulp and paper processing equipment.3

~~Enclosed Gearing~~Mounted Bearings. ~~We provide~~Mounted abearings ~~broad~~are ~~range~~fully ofassembled ~~enclosed~~bearings ~~gearing~~with ~~product~~a ~~lines~~wide ~~including~~range ~~Quantis~~of ~~Gearmotor~~shaft ~~(helical~~attachment ~~style~~methods, ~~gearing~~rolling ~~with~~elements, ~~modular configurations~~housing materials and configurations offering a variety of ~~mounting~~sealing ~~methods),~~solutions. ~~Torque~~Mounted ~~Arm~~bearing ~~(shaft-mount~~products ~~gearing~~include ~~with~~mounted ~~helical~~ball ~~style~~bearings, ~~gearing~~mounted roller bearings and ~~v-belt~~mounted ~~input~~plain ~~for~~bearings, ~~first~~and ~~stage~~are ~~reduction), Tigear~~used ~~(single~~in ~~reduction,~~light ~~right~~to ~~angle~~heavy ~~gear~~loads, ~~reducers~~and ~~with~~in ~~worm~~clean, ~~style~~corrosive ~~gearing),~~or ~~MagnaGear~~harsh &environments. ~~Maxum~~Mounted roller ~~(parallel~~bearings ~~reducers~~are ~~with~~pre-machined ~~helical~~to ~~and planetary~~allow ~~style~~field ~~gearing)~~installation ~~and~~of ~~Controlled~~the ~~Start~~Dodge ~~Transmission~~bearing ~~(planetary~~sensor, ~~style~~adding ~~gearing~~remote ~~with~~monitoring ~~hydraulic~~capability ~~clutch~~in ~~package~~difficult to ~~used~~access ~~for~~applications ~~soft~~and ~~starting large~~unsafe ~~conveyors)~~environments. Applications include unit and bulk material handling, industrial air handling, large rotor fans, food processing, roll-out tables, and forest pulp and paper processing equipment.

~~Motion~~Enclosed Gearing. ~~Control~~We ~~Components. Power~~provide ~~transmission~~a ~~components~~broad ~~are~~range of ~~three~~enclosed ~~types:~~gearing ~~mechanical~~product ~~drive~~lines ~~components~~including ~~(offering~~Quantis VGearmotor ~~belt~~(helical ~~sheaves,~~style ~~synchronous~~gearing ~~sprockets,~~with ~~bushings~~modular configurations and ~~belts)~~a ~~used~~variety toof ~~change~~mounting ~~rotational~~methods), ~~speed~~Torque ~~between~~Arm ~~two~~(shaft-mount ~~pieces~~gearing ofwith ~~equipment;~~helical ~~couplings~~style ~~used~~gearing toand ~~transmit~~v-belt ~~torque~~input ~~between~~for ~~two~~first stage ~~rotating~~reduction), ~~pieces of~~Tigear ~~equipment~~(single reduction, ~~such~~right asangle agear ~~motor~~reducers ~~and~~with aworm ~~gearbox;~~style gearing), MagnaGear & Maxum (parallel reducers with helical and ~~conveyor~~planetary ~~components,~~style ~~which~~gearing) ~~transfer~~and ~~torque~~Controlled ~~from~~Start ~~the~~Transmission ~~mechanical~~(planetary ~~drive~~style ~~equipment~~gearing towith ~~the conveyor~~hydraulic ~~belt~~clutch inpackage ~~bulk~~used for ~~material~~soft ~~handling~~starting ~~applications~~large conveyors). Applications include unit and bulk ~~material~~ handling, ~~industrial air handling, large rotor fans,~~ food processing, roll-out tables, and forest pulp and paper processing equipment. ~~We also provide actuation components to customers within our commercial aerospace and space markets.~~

~~Engineered~~Motion Control Components. ~~Engineered~~ Power transmission components ~~include~~are ~~highly~~of ~~engineered~~three ~~hydraulics~~types: ~~and~~mechanical ~~valves~~drive components (offering V belt sheaves, ~~fasteners~~synchronous sprockets, ~~precision~~bushings ~~mechanical~~and ~~components~~belts) ~~and~~used ~~machine~~to ~~tool~~change ~~collets. Engineered~~rotational ~~hydraulics~~speed ~~and~~between ~~valves~~two ~~are~~pieces of equipment; couplings used into ~~aircraft~~transmit ~~and~~torque ~~submarine~~between two ~~applications~~rotating ~~and~~pieces ~~aerospace~~of equipment, such as a motor and ~~defense~~a ~~aftermarket~~gearbox; ~~services.~~and ~~Precision mechanical~~conveyor components, ~~are~~which ~~used~~transfer intorque ~~all~~from ~~general~~the ~~industrial~~mechanical ~~applications~~drive equipment ~~where~~to ~~some~~the ~~form~~conveyor ofbelt ~~movement~~in isbulk ~~required~~material handling applications. ~~Machine~~Applications ~~tool~~include ~~collets~~unit ~~are cone-shaped~~and ~~metal~~bulk ~~sleeves~~material ~~used~~handling, ~~for~~industrial air ~~holding~~handling, ~~circular~~large orrotor ~~rod~~fans, food processing, roll-~~like~~out ~~pieces~~tables, inand aforest ~~lathe~~pulp orand ~~other~~paper ~~machine~~processing ~~that~~equipment. ~~provide~~We ~~effective~~also ~~part~~provide ~~holding~~actuation ~~and~~components ~~accurate~~to ~~part~~customers ~~location~~within ~~during~~our ~~machining~~commercial ~~operations~~aerospace and space markets.

3Engineered Components. Engineered components include highly engineered hydraulics and valves, fasteners, precision mechanical components and machine tool collets. Engineered hydraulics and valves are used in aircraft and submarine applications and Aerospace & Defense aftermarket services. Precision mechanical components are used in all general industrial applications where some form of movement is required. Machine tool collets are cone-shaped metal sleeves used for holding circular or rod-like pieces in a lathe or other machine that provide effective part holding and accurate part location during machining operations.

Product Design and Development

We produce specialized bearings and engineered components that are often tailored to the specifications of a customer or application. Our sales professionals are highly experienced engineers who collaborate with our customers to develop bearing and engineered component solutions. The product development cycle can follow many paths, which are dependent on the end market or sales channel. The process normally takes between three and six years from concept to sale depending upon the application and the market. A typical process for a major OEM project begins when our design engineers meet with the customer at the machine design conceptualization stage and work with them through the conclusion of the product development.

Often, at the early stage, a bearing or engineered component design is produced that addresses the expected demands of the application including load, stress, heat, thermal gradients, vibration, lubricant supply, pressure and flows, and corrosion resistance, with one or two of these environmental constraints being predominant in the design consideration. A bearing or engineered component design must perform reliably for the period of time required by the customer’s product objectives.

Once a bearing or engineered component is designed, a mathematical simulation is created to replicate the expected application environment and thereby allow optimization with respect to these design variables. Upon conclusion of the design and simulation phase, samples are produced and laboratory testing commences at one of our test laboratories. The purpose of this testing phase is not only to verify the design and the simulation model but also to allow further design improvement where needed. The last phase is field testing by the customer, after which the product is ready for sale.

For many of our Aerospace/ & Defense products, the culmination of this lengthy process is the receipt of a product approval or certification, generally obtained from either the OEM, the DOD or the Federal Aviation Administration (“FAA”), which allows us to supply the product to the OEM customer and to the aftermarket. We currently have a significant number of such approvals, which often gives us a competitive advantage, and in many of these instances we are the only approved supplier of a given bearing or engineered component.

~~Manufacturing and Operations~~ 4

~~Our manufacturing strategies~~Manufacturing ~~are focused on product reliability, quality, safety~~ and ~~service.~~Operations Custom and standard products are produced according to manufacturing schedules that ensure maximum availability of popular items for immediate sale while carefully considering the economies of lot production and special products. Capital programs and manufacturing methods development are focused on quality improvement, production costs, safety and service. Ongoing review of product line production performance assurance an environment of continue attainment of profitability and quality goals.

~~Capacity.~~ Our ~~plants~~ ~~currently~~manufacturing ~~run~~strategies onare afocused ~~full~~on ~~first~~product ~~shift~~reliability, ~~with~~quality, ~~second~~safety and ~~third~~service. ~~shifts~~Custom atand ~~select~~standard ~~locations~~products are produced according to ~~meet~~manufacturing ~~the~~schedules ~~demands~~that ensure maximum availability of ~~our~~popular ~~customers.~~items Wefor ~~believe~~immediate sale while carefully considering the economies ~~that~~of ~~current~~lot ~~capacity~~production ~~levels~~and special products. Capital programs and ~~future~~manufacturing ~~annual~~methods ~~estimated~~development ~~capital~~are ~~expenditures~~focused on ~~equipment~~quality upimprovement, toproduction costs, ~~approximately~~safety 3and service.0% toOngoing ~~3.5%~~review of ~~net~~product ~~sales should~~line ~~permit~~production usperformance toassurance ~~effectively~~an ~~meet~~environment ~~demand~~of ~~levels~~continue ~~for~~attainment ~~the~~of ~~foreseeable~~profitability and ~~future~~quality goals.

~~Inventory Management~~Capacity. WeOur ~~operate~~plants ancurrently ~~inventory~~run ~~management~~on ~~program~~a ~~designed~~full tofirst ~~balance~~shift ~~customer delivery requirements~~ with ~~economically~~second ~~optimal inventory levels. In this program, each product is categorized based on characteristics including order frequency, number of customers~~ and ~~sales~~third ~~volume. Using~~shifts ~~this~~at ~~classification~~select ~~system,~~locations ~~our primary goal is~~ to ~~maintain~~meet athe ~~sufficient~~demands ~~supply~~ of ~~standard~~our ~~items while minimizing costs~~customers. We Inbelieve ~~addition, production~~that ~~cost~~current ~~savings~~capacity ~~are~~levels ~~achieved~~and byfuture ~~optimizing~~annual ~~plant~~estimated ~~scheduling~~capital ~~around~~expenditures ~~inventory~~on ~~levels~~equipment ~~and~~up ~~customer~~to ~~delivery~~approximately ~~requirements~~3.5% ~~This leads~~ to ~~more efficient utilization~~ 4.0% of ~~manufacturing~~net ~~facilities~~sales ~~and~~should ~~minimizes~~permit ~~plant~~us ~~production~~to ~~changes~~effectively ~~while~~meet ~~maintaining~~demand ~~sufficient~~levels ~~inventories to~~for ~~service~~the ~~customer~~foreseeable ~~needs~~future.

~~Sales~~Inventory Management. We operate an inventory management program designed to balance customer delivery requirements with economically optimal inventory levels. In this program, ~~Marketing~~each product is categorized based on characteristics including order frequency, number of customers and ~~Distribution~~sales volume. Using this classification system, our primary goal is to maintain a sufficient supply of standard items while minimizing costs. In addition, production cost savings are achieved by optimizing plant scheduling around inventory levels and customer delivery requirements. This leads to more efficient utilization of manufacturing facilities and minimizes plant production changes while maintaining sufficient inventories to service customer needs.

~~Our marketing strategy is aimed at increasing sales within our two primary markets~~Sales, ~~targeting specific applications in which we can exploit our competitive strengths.~~ ToMarketing ~~affect this strategy, we seek to expand into geographic areas not previously served by us~~ and we continue to capitalize on new markets and industries for existing and new products. We employ a technically proficient sales force and utilize marketing managers, product managers, customer service representatives and product application engineers in our selling efforts.Distribution

~~We have developed our sales~~Our ~~force~~marketing ~~through~~strategy ~~the~~is ~~hiring~~aimed ofat increasing sales ~~personnel~~within ~~with~~our ~~prior~~two ~~industry~~primary ~~experience~~markets, ~~complemented~~targeting byspecific anapplications in~~-house~~ ~~training~~which ~~program.~~we Wecan ~~intend to~~exploit ~~continue~~our tocompetitive ~~hire~~strengths. ~~and~~To ~~develop~~affect ~~expert~~this ~~sales professionals and strategically locate them to implement our expansion~~ strategy~~. Today~~, ~~our direct~~we ~~sales~~seek ~~force is located~~ to ~~service~~expand ~~North~~into ~~America,~~geographic ~~Europe,~~areas ~~Asia,~~not ~~Australia~~previously ~~and~~served ~~Latin~~by ~~America~~us and iswe ~~responsible for selling all of~~continue ~~our~~to ~~products.~~capitalize ~~This~~on ~~selling~~new ~~model~~markets ~~leverages our relationship with key customers~~ and ~~provides~~industries ~~opportunities~~for toexisting ~~market multiple product lines to both established~~ and ~~potential~~new ~~customers~~products. We ~~also~~employ ~~sell our products through~~ a ~~well-established,~~technically ~~global~~proficient ~~network~~sales offorce ~~industrial~~ and ~~aerospace~~utilize ~~distributors.~~marketing ~~This~~managers, ~~channel~~product ~~primarily provides our products to smaller OEM customers~~managers, ~~aftermarket~~customer ~~customers~~service ~~and~~representatives ~~the end users of bearings~~ and ~~engineered~~product ~~components~~application ~~that~~engineers ~~require~~in ~~local~~our ~~inventory~~selling ~~and service~~efforts. ~~We intend to continue to focus on building distributor sales volume.~~

4We have developed our sales force through the hiring of sales personnel with prior industry experience, complemented by an in-house training program. We intend to continue to hire and develop expert sales professionals and strategically locate them to implement our expansion strategy. Today, our direct sales force is located to service North America, Europe, Asia, Australia and Latin America and is responsible for selling all of our products. This selling model leverages our relationship with key customers and provides opportunities to market multiple product lines to both established and potential customers. We also sell our products through a well-established, global network of Industrial and Aerospace distributors. This channel primarily provides our products to smaller OEM customers, aftermarket customers and the end users of bearings and engineered components that require local inventory and service. We intend to continue to focus on building distributor sales volume.

The Company has a joint venture in North America focused on joint warehouse and transportation logistics and e-business services. The e-business service focuses on information and business services for authorized distributors in the Industrial segment.

The sale of our products is supported by a well-trained and experienced customer service organization, which provides customers with instant access to key information regarding their purchases. We also provide customers with updated information through our website, and we have developed on-line integration with specific customers, enabling more efficient ordering and timely order fulfillment for those customers.

We store product inventory in warehouses located in the Midwest, Southwest and on the East and West coasts of the U.S. as well as in Australia, Canada, England, France, India, Mexico, the People’s Republic of China, Switzerland and ~~Switzerland~~Germany. The inventory is located in these locations based on analysis of customer demand to provide superior service and product availability.

Competition

Our principal competitors include SKF, New Hampshire Ball Bearings, Regal Rexnord, NORD and Timken, although we compete with different companies for each of our product lines. We believe that for the majority of our products, the principal competitive factors affecting our business are product qualifications, product line breadth, service, quality and price. Although some of our current and potential competitors may have greater financial, marketing, personnel and other resources than us, we believe that we are well-positioned to compete with regard to each of these factors in each of the markets in which we operate.

Product Qualifications. Many of the products we produce are qualified for the application by the OEM, the DOD, the FAA, the user or a combination of these. These credentials have been achieved for thousands of distinct items after years of design, testing and improvement. Applicable Dodge products are compliant as required with related communications, safety, and Ex certifications for use in North America, Mexico, the EU, as well as other select international locations. Several of our products are protected by patents, and we believe that in many cases we have strong brand identity or we are the sole source for products for a particular application.

Product Line Breadth. Our products encompass a broad range of designs which often create a critical mass of complementary bearings, essential systems and engineered components for our markets. This position provides many of our industrial and aerospace customers with a single manufacturer to provide the engineering service and product breadth needed to achieve a series of OEM design objectives and/or aftermarket requirements. This enhances our value to the OEM considerably while strengthening our overall market position.5

~~Service.~~ Product ~~design,~~ ~~performance,~~Line ~~reliability,~~Breadth. ~~availability,~~Our ~~quality,~~products ~~and~~encompass ~~technical~~a ~~and~~broad ~~administrative~~range ~~support~~of ~~are~~designs ~~elements~~which ~~that~~often ~~define~~create ~~the~~a ~~service~~critical ~~standard for~~mass ~~this~~of ~~business.~~complementary ~~Our customers are sophisticated and demanding~~bearings, asessential systems ~~our products are fundamental~~ and ~~enabling~~engineered components tofor ~~the~~our ~~manufacturing or operation of their machinery~~markets. WeThis ~~maintain~~position ~~inventory~~provides ~~levels~~many of our ~~most~~Industrial ~~popular~~and ~~items~~Aerospace ~~for~~customers ~~immediate~~with ~~sale~~a ~~and~~single manufacturer ~~service.~~to ~~Our~~provide ~~customers have~~the ~~high~~engineering ~~expectations~~service ~~regarding~~and product ~~availability~~breadth ~~and~~needed ~~quality,~~to ~~and~~achieve ~~the~~a ~~primary~~series ~~emphasis~~ of ~~our~~OEM ~~service~~design ~~efforts~~objectives isand/or toaftermarket requirements. ~~provide~~This ~~the~~enhances ~~widest possible~~our ~~range~~value ofto ~~available~~the ~~products~~OEM ~~delivered~~considerably onwhile astrengthening ~~timely~~our ~~basis~~overall market position.

~~Price~~Service. Product Wedesign, ~~believe~~performance, ~~our products~~reliability, availability, quality, and technical and administrative support are ~~priced~~elements ~~competitively~~that indefine the service ~~markets~~standard wefor ~~serve~~this ~~and~~business. weOur ~~continually~~customers ~~evaluate~~are sophisticated and demanding, as our ~~manufacturing~~products ~~and~~are ~~other~~fundamental ~~operations~~and toenabling ~~maximize~~components ~~efficiencies~~to inthe ~~order~~manufacturing toor ~~maintain~~operation ~~competitive~~of ~~prices~~their ~~while~~machinery. ~~maximizing~~We maintain inventory levels of our ~~profit~~most ~~margins~~popular items for immediate sale and service. Our Wecustomers ~~invest~~have ~~considerable~~high ~~effort~~expectations toregarding ~~develop~~product ~~our price-to-value~~availability ~~algorithms~~and quality, and wethe ~~price~~primary emphasis of our service efforts is to provide ~~market~~the ~~levels~~widest ~~where~~possible ~~required~~range byof ~~competitive~~available ~~pressures~~products delivered on a timely basis.

~~Suppliers~~Price. We believe our products are priced competitively in the markets we serve and ~~Raw~~we ~~Materials~~continually evaluate our manufacturing and other operations to maximize efficiencies in order to maintain competitive prices. We invest considerable effort to develop our price-to-value algorithms and we price to market levels where required by competitive pressures.

~~We obtain raw materials, component~~Suppliers ~~parts~~ and ~~supplies~~Raw from a variety of sources and generally from more than one supplier. Our principal raw materials are steel and cast iron. Our suppliers and sources of raw materials are based in the U.S., Europe and Asia. We purchase steel at market prices, which fluctuate as a result of supply and demand driven by economic conditions in the marketplace, and we currently pay import tariffs on our raw materials sourced outside the U.S. For further discussion of the possible effects of import tariffs and changes in the cost of raw materials on our business, see Part I, Item 1A. “Risk Factors” of this Annual Report on Form 10-K.Materials

5We obtain raw materials, component parts and supplies from a variety of sources and generally from more than one supplier. Our principal raw materials are steel and cast iron. Our suppliers and sources of raw materials are based in the U.S., Europe and Asia. We purchase steel at market prices, which fluctuate as a result of supply and demand driven by economic conditions in the marketplace, and we currently pay import tariffs on our raw materials sourced outside the U.S. For further discussion of the possible effects of import tariffs and changes in the cost of raw materials on our business, see Part I, Item 1A. “Risk Factors” of this Annual Report on Form 10-K.

Backlog

Our backlog as of March 2928, ~~2025~~ 2026 was $~~940~~2.73 billion compared to $~~821~~0.59 billion as of March 3029, ~~2024~~2025. Our backlog as of March 28, 2026 included $0.6 billion of VACCO backlog and $1.1 billion of marine related backlog. Many of our orders are fulfilled immediately after the order has been placed by the customer and would not be seen in our backlog at the end of a reporting period. Orders included in our backlog are subject to cancellation, delay or modifications by our customers prior to fulfillment as governed by our terms of sale. We sell many of our products pursuant to contractual agreements, single-source relationships or long-term purchase orders, each of which may permit early termination by the customer. However, we believe that the unique nature of many of our products prevents other suppliers from being able to satisfy customer orders on a timely or cost-effective basis, thereby making it impracticable for our customers to shift their purchase of these products to other suppliers.

Human Capital

RBC employs 5,~~334~~816 people worldwide. Of ~~that~~these, 34,~~754~~187 are employed at our 3444 U.S. facilities and 1,~~580~~629 are employed at our 2021 international facilities located in Australia, Canada, England, France, Germany, India, Mexico, the People’s Republic of China, Poland and Switzerland. The majority of our personnel are RBC employees rather than independent contractors, temporaries or third-party-labor-provider personnel.

Our human capital objective is to attract and retain high-performing people who can work in a culture that fosters innovation and continuous improvement. To achieve that objective, we maintain an aggressive talent recruitment program, a fair and competitive compensation program, an on-going training and development program, and an ethical and safe work environment.

Talent Recruitment. Critical to our success is that we have a deep and talented pool of engineers who oversee the production of our current products to the highest standards, work directly with customers on applications, and direct the research and development for new products. To maintain that talent pool, we actively recruit engineers from over 40 colleges and universities around the U.S. In addition, we have ~~developed~~ developed deep collaborative relationships with a select group of schools, including internship and trainee programs with several of these schools.

Compensation. We offer fair and competitive compensation to our employees. Our employee benefits package includes medical, dental and vision coverage, life insurance, supplemental disability coverage, and 401(k) and supplemental employee retirement plans. In addition, participation in our long-term equity incentive plan goes very deep in our organization, providing employees with equity compensation/awards that they might not receive if they worked for one of our competitors.

Training. An important part of achieving our human capital objective is our in-house training programs – RBC University, Materials University, Mechanical Engineering Training and the Customer, Application, Product Training (CAPT) Program. These programs provide our employees with a uniform foundation regarding how we do business, expand their subject matter expertise, and develop the various leadership positions across our organization, including plant management and general management. We also offer a tuition reimbursement program for many employees wishing to further their classroom education in their chosen field.6

~~Ethics~~Training. We ~~expect~~An important part of achieving our ~~personnel~~human tocapital ~~conduct~~objective ~~the~~is ~~business~~our ofin-house training programs – RBC inUniversity, aMaterials ~~legal~~University, Mechanical Engineering Training and ~~ethical~~the ~~manner~~Customer, Application, Product Training (CAPT) Program. ToThese ~~ensure~~programs ~~that~~provide ~~they~~our employees with a uniform foundation regarding how we do ~~that~~business, ~~our~~expand ~~people~~their ~~are~~subject ~~required to~~matter ~~comply~~expertise, atand ~~all~~develop ~~times~~the ~~with~~various leadership positions across our ~~corporate~~organization, ~~Code~~including ofplant ~~Conduct,~~management ~~which~~and ~~among~~general ~~other~~management. ~~things~~We ~~requires~~also ~~them~~offer a tuition reimbursement program for many employees wishing to: further their classroom education in their chosen field.

●Ethics. We ~~deal~~expect ~~fairly~~our ~~with~~personnel ~~their~~to ~~coworkers~~conduct ~~and~~the business of RBC’s ~~customers,~~in ~~suppliers~~a legal and ~~competitors~~ethical manner. To ensure that they do that, our people are required to comply at all times with our corporate Code of Conduct, which among other things requires them to:

● ~~comply~~deal fairly with ~~all~~their ~~applicable~~coworkers ~~laws~~and RBC’s customers, suppliers and competitors,

● ~~protect~~comply ~~RBC’s~~with ~~proprietary~~all ~~information~~applicable ~~and other assets~~laws, ~~and~~

● ~~avoid~~protect ~~conflicts~~RBC’s ofproprietary ~~interest~~information ~~with~~and ~~RBC.~~other assets, and

~~Workplace~~● ~~Safety.~~avoid ~~Safety is~~conflicts of ~~paramount~~interest ~~importance to RBC and so we go to great lengths in striving for a zero-incident workplace that is consistent~~ with ~~our mandate to produce the highest quality, highly engineered components for our customers~~RBC. Our general managers and operations managers are charged with creating and maintaining the highest standards of safety for employees, visitors and the local community through the use of industry best practices at their facilities. Monthly, each of our facilities reports to senior leadership on key safety metrics and we maintain a proactive approach in assessing and mitigating risk through root cause analysis, communication, training and teamwork.

6Workplace Safety. Safety is of paramount importance to RBC and so we go to great lengths in striving for a zero-incident workplace that is consistent with our mandate to produce the highest quality, highly engineered components for our customers. Our general managers and operations managers are charged with creating and maintaining the highest standards of safety for employees, visitors and the local community through the use of industry best practices at their facilities. Monthly, each of our facilities reports to senior leadership on key safety metrics and we maintain a proactive approach in assessing and mitigating risk through root cause analysis, communication, training and teamwork.

Intellectual Property

We own U.S. and foreign patents and trademark registrations and U.S. copyright registrations and have U.S. trademark and patent applications pending. We file patent applications and maintain patents to protect certain technology, inventions and improvements that are important to the development of our business, and we file trademark applications and maintain trademark registrations to protect product names that have achieved brand-name recognition among our customers. We also rely upon trade secrets, know-how and continuing technological innovation to develop and maintain our competitive position. Many of our brands are well recognized by our customers and are considered valuable assets of our business. We do not believe, however, that any individual item of intellectual property is material to our business.

Regulation

Product Approvals. Essential to servicing the ~~aerospace~~Aerospace ~~and~~& ~~defense~~Defense markets is the ability to obtain product approvals. We have a substantial number of product approvals in the form of OEM approvals or Parts Manufacturer Approvals, or “PMAs,” from the FAA. We also have a number of active PMA applications in process. These approvals enable us to provide products used in virtually all domestic aircraft platforms presently in production or operation.

We are subject to various other federal laws, regulations and standards. New laws, regulations or standards or changes to existing laws, regulations or standards could subject us to significant additional costs of compliance or liabilities and could result in material reductions to our results of operations, cash flow or revenues.

Environmental Matters

We are subject to federal, state and local environmental laws and regulations, including those governing discharges of pollutants into the air and water, the storage, handling and disposal of wastes and the health and safety of employees. We also may be liable under the Comprehensive Environmental Response, Compensation, and Liability Act or similar state laws for the costs of investigation and clean-up of contamination at facilities currently or formerly owned or operated by us, or at other facilities at which we have disposed of hazardous substances. In connection with such contamination, we may also be liable for natural resource damages, U.S. government penalties and claims by third parties for personal injury and property damage. Agencies responsible for enforcing these laws have authority to impose significant civil or criminal penalties for non-compliance. We believe we are currently in material compliance with all applicable requirements of environmental laws. We do not anticipate material capital expenditures for environmental compliance in fiscal ~~year 2026~~2027.

~~Available Information~~7

~~We file our annual, quarterly~~Available and current reports, proxy statements, and other documents with the Securities Exchange Commission (“SEC”) under the Securities Exchange Act of 1934. The public may read and copy any materials filed with the SEC at the SEC’s Office of Investor Education and Advocacy at 100F Street, NE, Washington, D.C. 20549. The public may obtain information on the operation of the Office of Investor Education and Advocacy by calling the SEC at 1–800–SEC–0330. Also, the SEC maintains an Internet website that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The public can obtain any documents that are filed by us at http://www.sec.gov.Information

InWe file ~~addition~~our annual, ~~this~~quarterly ~~Annual~~and ~~Report on~~current ~~Form~~reports, ~~10-K~~proxy statements, and ~~our~~ other ~~periodic~~documents ~~filings~~ with the ~~SEC~~Securities ~~(including~~Exchange ~~our~~Commission ~~quarterly~~(“SEC”) under ~~reports~~the onSecurities ~~Form~~Exchange ~~10-Q~~Act ~~and~~of ~~current~~1934. ~~reports~~The onpublic ~~Form~~may ~~8-K), any~~read ~~amendments~~and tocopy any ofmaterials filed with the ~~foregoing,~~SEC ~~and~~at ~~our~~the ~~governance~~SEC’s ~~documents~~Office ~~are~~of Investor ~~made~~Education ~~available~~and ~~free~~Advocacy ofat ~~charge~~100F onStreet, ~~our~~NE, ~~website~~Washington, ~~(https://investor~~D.~~rbcbearings~~C.~~com) as~~ ~~soon~~20549. asThe ~~reasonably~~public ~~practicable~~may ~~after~~obtain ~~they~~information ~~are~~on ~~electronically~~the ~~filed~~operation ~~with~~of orthe Office ~~furnished~~of toInvestor Education and Advocacy by calling the SEC. ~~Copies~~at of1–800–732–0330. Also, the ~~above~~SEC maintains an Internet website that contains reports, proxy and ~~documents~~information statements, and other information regarding issuers that file electronically with ~~will~~the ~~also~~SEC. beThe ~~provided~~public ~~free~~can ofobtain ~~charge~~any ~~upon~~documents ~~written~~that ~~request~~are tofiled by us at http://www.sec.gov.

7In addition, this Annual Report on Form 10-K and our other periodic filings with the SEC (including our quarterly reports on Form 10-Q and current reports on Form 8-K), any amendments to any of the foregoing, and our governance documents are made available free of charge on our website (https://investor.rbcbearings.com) as soon as reasonably practicable after they are electronically filed with or furnished to the SEC. Copies of the above reports and documents will also be provided free of charge upon written request to us.

ITEM 1A. RISK FACTORS

Cautionary Statement as to Forward-Looking Information

This report includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including: projections of earnings, cash flows, revenue or other financial items; statements of the plans, strategies and objectives of management for future operations; statements concerning proposed new services or developments; statements regarding future economic conditions or performance or future growth rates in the markets we serve; statements regarding future raw material costs or supply; statements of belief; and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words “may,” “could,” “estimate,” “intend,” “plan,” “continue,” “believe,” “expect,” “anticipate” or other comparable terminology, or the negative of such terms.

Although we believe that the expectations and assumptions reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition, results of operations, and cash flows, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed in this Annual Report on Form 10-K. Factors that could cause our actual results, performance and achievements or industry results to differ ~~materially~~ from estimates or projections contained in our forward-looking statements include, among others, the following:

●

The Company’s failure to maintain effective disclosure controls and procedures and internal control over financial reporting;

●

Competition in the bearings, engineered components and essential systems industries;

● ~~Weaknesses~~The orloss ~~cyclicality~~of inone ~~any~~or more of our significant customers or conditions that adversely affect the ~~industries~~business inof ~~which~~any of our ~~customers~~significant ~~operate~~customers;

● ~~Future~~Weaknesses ~~reductions~~or cyclicality in ~~U.S.~~any ~~governmental~~of ~~spending~~the orindustries ~~changes~~ in ~~governmental~~which ~~programs,~~our ~~particularly~~customers ~~military equipment procurement programs~~operate;

● ~~The~~Future ~~loss~~reductions ofin ~~one~~U.S. orgovernmental ~~more~~spending ~~of our significant customers~~ or ~~conditions~~changes ~~that~~in ~~adversely~~governmental ~~affect~~programs, ~~the~~particularly ~~business~~military ofequipment ~~any~~procurement ~~of our significant customers~~programs;

● ~~Our~~Supply and costs of raw materials (particularly steel) and energy resources, the imposition or increase of import tariffs, and our ability to ~~obtain~~pass ~~and~~through ~~retain~~these ~~product~~costs ~~approvals~~on a timely basis;

● ~~Supply~~Changes ~~and~~in ~~costs~~trade ofagreements ~~raw~~or ~~materials~~treaties ~~(particularly steel)~~ and ~~energy resources,~~ the imposition or increase of ~~import~~ tariffs, ~~and~~on our ~~ability~~goods exported to ~~pass~~other ~~through these costs on a timely basis~~countries;

● Our ability to ~~acquire~~obtain and ~~integrate~~retain ~~complementary~~product ~~businesses~~approvals;

● ~~Unanticipated~~Risks ~~liabilities~~associated ofwith ~~acquired~~utilizing ~~businesses~~information technology systems, including cyber events;

● ~~Unexpected~~Work ~~equipment~~stoppages ~~failures~~and other labor problems affecting us or ~~catastrophic~~our ~~events~~customers or suppliers;

● ~~Our~~Unexpected ~~ability~~equipment tofailures ~~attract~~or ~~and~~catastrophic ~~retain our management team and other highly skilled personnel~~events;

● ~~Work~~Our ~~stoppages~~ability ~~and~~to ~~other~~acquire ~~labor~~and ~~problems~~integrate ~~affecting~~complementary ~~us or our customers or suppliers~~businesses;

~~● Changes in trade agreements or treaties and the imposition or increase of tariffs on our goods exported to other countries;~~8

● ~~Regulatory~~Unanticipated ~~changes~~liabilities orof ~~developments~~acquired ~~in the U.S. or in foreign countries where we produce or sell products~~businesses;

● ~~Developments~~Risks orassociated ~~disputes~~with ~~concerning~~the ~~patents~~substantial oramount ~~other~~of ~~proprietary~~goodwill ~~rights~~that we have;

● ~~Risks~~Our ~~associated~~ability ~~with~~to ~~utilizing~~attract ~~information~~and ~~technology~~retain ~~systems,~~our ~~including~~management ~~cyber~~team ~~events~~and other highly skilled personnel;

●

Risks associated with operating internationally, including currency translation risks;

● ~~Investors’~~Possible ~~perceptions~~liability ofand usrecalls ~~and~~with respect to our ~~industry~~products;

● ~~The~~Developments ~~cancellation~~or ofdisputes ~~orders~~concerning inpatents ~~our~~or ~~backlog~~other proprietary rights;

● ~~Possible~~The ~~liability~~cancellation ~~and~~of ~~recalls~~orders ~~with~~in ~~respect to~~ our ~~products~~backlog;

● Risks associated with the substantial amount of ~~goodwill~~debt ~~that~~ we ~~have~~incurred to finance the Dodge acquisition; and

● ~~Risks~~Other ~~associated~~risks ~~with~~and ~~the~~uncertainties ~~substantial~~including ~~amount~~but ofnot ~~debt~~limited weto ~~incurred~~those described from time to ~~finance~~time ~~the~~in ~~Dodge~~our ~~acquisition;~~current and quarterly reports filed with the SEC.

●These and ~~Other~~additional ~~risks~~factors that could cause actual results to differ from our forward-looking statements are set forth in this Annual Report on Form 10-K under Part I, Item 1. “Business,” Part I, Item 1A. “Risk Factors,” Part II, Item 7. “Management’s Discussion and ~~uncertainties~~Analysis ~~including~~of ~~but~~Financial ~~not~~Condition ~~limited~~and toResults ~~those~~of ~~described~~Operations,” ~~from~~and ~~time~~Part toII, ~~time~~Item 8. “Financial Statements and Supplementary Data.” All forward-looking statements contained in ~~our~~this ~~current~~report and ~~quarterly~~any ~~reports~~subsequently filed ~~with~~reports ~~the~~are ~~SEC~~expressly qualified in their entirety by these cautionary statements.

8We have no duty to update any forward-looking statements after the date of this report to conform such statements to actual results or to changes in our expectations. You are advised, however, to review any disclosures we make on related subjects in our future periodic filings with the SEC.

~~These and additional factors~~Risk ~~that~~Factors ~~could~~Relating ~~cause actual results~~ to ~~differ~~Our materially from our forward-looking statements are set forth in this Annual Report on Form 10-K under Part I, Item 1. “Business,” Part I, Item 1A. “Risk Factors,” Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Part II, Item 8. “Financial Statements and Supplementary Data.” All forward-looking statements contained in this report and any subsequently filed reports are expressly qualified in their entirety by these cautionary statements.Company

WeOur business, ~~have~~operating noresults, ~~duty~~cash toflows ~~update any~~or ~~forward-looking~~financial ~~statements~~condition ~~after~~could ~~the~~be ~~date~~materially adversely affected by any of ~~this~~the ~~report~~following torisks. The ~~conform~~trading ~~such~~price ~~statements~~of toour ~~actual~~common ~~results~~stock orcould todecline ~~changes~~due into ~~our~~any ~~expectations. You~~of ~~are~~these ~~advised~~risks, ~~however,~~and toyou ~~review~~could ~~any~~lose ~~disclosures~~all weor ~~make~~part onof ~~related~~your ~~subjects~~investment. inYou should ~~our~~carefully ~~future~~consider ~~periodic~~these ~~filings~~risks ~~with~~before ~~the~~investing ~~SEC~~in shares of our common stock.

~~Risk~~The Company’s ~~Factors~~failure to maintain effective disclosure controls and procedures and internal control over financial reporting could ~~Relating~~result in material misstatements in our financial statements and a failure to ~~Our~~meet our reporting and financial obligations, each of which could have a material adverse effect on the Company’s financial condition and the trading price of our common stock.

~~Our business, operating results,~~A ~~cash~~material ~~flows~~weakness orin ~~financial~~a ~~condition~~company’s ~~could~~internal becontrol ~~materially~~over ~~adversely~~financial ~~affected~~reporting byis ~~any~~a ofdeficiency, ~~the~~or ~~following~~a ~~risks.~~combination ~~The trading price~~ of ~~our~~deficiencies, ~~common~~in ~~stock~~internal ~~could~~control ~~decline~~over ~~due~~financial toreporting ~~any~~such ofthat ~~these~~there ~~risks,~~is ~~and~~a ~~you~~reasonable ~~could~~possibility ~~lose~~that ~~all~~a ormaterial ~~part~~misstatement of ~~your~~that ~~investment.~~company’s annual ~~You~~or ~~should~~interim ~~carefully~~financial ~~consider~~statements ~~these risks~~will ~~before~~not ~~investing~~be inprevented ~~shares~~or ofdetected ~~our~~on ~~common~~a ~~stock~~timely basis.

~~The~~If the Company’s ~~failure~~is unable to maintain effective ~~disclosure controls and procedures and~~ internal control over financial reporting ~~could result~~ in ~~material~~the ~~misstatements~~future, in our ~~financial~~ ~~statements~~ability ~~and~~to arecord, ~~failure~~process toand report ~~meet~~financial ~~our~~information ~~reporting~~timely and ~~financial~~accurately ~~obligations,~~could ~~each~~be ofadversely affected, which could ~~have~~subject athe ~~material~~Company ~~adverse~~to ~~effect~~litigation or investigations, onrequire ~~the~~management ~~Company’s~~resources, ~~financial~~increase ~~condition~~costs, ~~and~~negatively ~~the~~affect ~~trading~~investor ~~price~~confidence ofand ~~our~~adversely ~~common~~impact our stock price.

~~A material weakness in a company’s~~The ~~internal~~bearings, ~~control~~engineered ~~over~~components ~~financial~~and ~~reporting~~essential issystems aindustries ~~deficiency,~~are orhighly ~~a combination of deficiencies~~competitive, inand ~~internal~~competition ~~control~~could ~~over~~reduce ~~financial~~our ~~reporting~~profitability ~~such that there is a reasonable possibility that a material misstatement of that company’s annual~~ or ~~interim~~limit ~~financial~~our ~~statements will~~ability ~~not~~to ~~be prevented or detected on a timely basis~~grow.

~~During~~The global ~~the~~bearings, ~~first~~engineered ~~quarter~~components ~~of fiscal~~and ~~year~~essential ~~2023~~systems industries are highly competitive, ~~the~~and ~~Company’s~~we ~~management~~compete ~~identified~~with amany ~~material~~U.S. ~~weakness~~and innon-U.S. companies, ~~internal~~some ~~control~~of ~~over~~which ~~financial~~benefit ~~reporting~~from ~~related~~lower ~~to the~~labor ~~design~~costs ofand ~~our~~fewer ~~control~~regulatory toburdens ~~consider~~than ~~all~~us. ~~relevant~~We ~~terms~~compete ~~within~~primarily ~~executive~~based ~~employment~~on ~~agreements~~product ~~and~~qualifications, product ~~the~~line ~~related~~breadth, ~~application~~service ofand ~~relevant authoritative~~price. ~~accounting~~Certain ~~guidance~~competitors ~~for~~may ~~stock-based~~be ~~compensation,~~better aable ~~non-cash~~to ~~item.~~manage ~~Management~~costs ~~then~~than ~~re-evaluated~~us ~~its~~or ~~assessment~~may ofhave ~~the~~greater ~~effectiveness~~financial ofresources ~~internal~~than ~~control~~we ~~over~~have. ~~financial~~Due ~~reporting~~to ~~and~~the ~~its~~competitiveness ~~disclosure~~in ~~controls~~the ~~and~~bearings, ~~procedures~~engineered components and ~~concluded~~essential ~~that~~systems ~~they~~industries ~~were~~we may not be ~~effective~~able ~~as of~~to ~~April~~increase 2,prices ~~2022,~~for ~~making~~our itproducts ~~necessary~~to ~~for~~cover ~~the~~increases ~~Company~~in toour ~~restate~~costs, ~~the~~and ~~financial~~we ~~statements~~may ~~for~~face ~~fiscal~~pressure ~~years~~to ~~2022~~reduce prices, ~~2021~~which could materially reduce our revenues, cash flows and ~~2020~~profitability. ~~Although we~~Competitive ~~have~~factors, ~~remediated~~including ~~this~~changes ~~material~~in ~~weakness~~market penetration, ~~there~~increased ~~can~~price becompetition and nothe ~~assurance~~introduction ~~that~~of ~~additional~~new ~~material~~products ~~weaknesses~~and ~~will~~technology ~~not~~by ~~occur~~existing and new competitors, could result in ~~the~~a ~~future~~material reduction in our revenues, cash flows and profitability.

If the Company is unable to maintain effective internal control over financial reporting in the future, our ability to record, process and report financial information timely and accurately could be adversely affected, which could subject the Company to litigation or investigations, require management resources, increase costs, negatively affect investor confidence and adversely impact our stock price.9

The loss ~~bearings~~of a major customer, ~~engineered~~or ~~components~~a ~~and essential~~material ~~systems~~adverse ~~industries~~change ~~are~~in ~~highly~~a ~~competitive,~~major ~~and~~customer’s ~~competition~~business, could ~~reduce~~result ~~our~~in ~~profitability~~a ormaterial ~~limit~~reduction in our ~~ability~~revenues, tocash ~~grow~~flows and profitability.

~~The global bearings, engineered~~Our ~~components~~top ~~and~~ten ~~essential~~customers ~~systems~~collectively ~~industries~~accounted ~~are~~for ~~highly~~approximately ~~competitive~~35%, 44% and we44% ~~compete~~of ~~with~~our ~~many~~net ~~U.S.~~sales ~~and~~during ~~non-U.S.~~fiscal ~~companies~~2026, ~~some~~2025 ~~of which benefit from lower labor costs~~ and ~~fewer regulatory burdens than us. We compete primarily based on product qualifications~~2024, ~~product line~~respectively. ~~breadth~~Accordingly, ~~service~~the ~~and~~loss ~~price.~~of ~~Certain~~one ~~competitors~~or ~~may~~more beof ~~better~~those ~~able~~customers ~~to manage costs than us~~ or ~~may~~a ~~have~~substantial ~~greater~~decrease ~~financial resources than we have. Due to the competitiveness~~ in ~~the~~those ~~bearings,~~customers’ ~~engineered~~purchases ~~components~~from ~~and~~us ~~essential~~could ~~systems industries we may not be able to increase~~result ~~prices~~in ~~for~~a ~~our~~material ~~products~~reduction ~~to cover increases~~ in our ~~costs, and we may face pressure to reduce prices, which could materially reduce our~~ revenues, cash flows and profitability. ~~Competitive~~If ~~factors,~~one ~~including changes in market penetration, increased price competition and the introduction~~ of ~~new~~our ~~products~~major ~~and~~customers ~~technology~~were byto ~~existing~~experience ~~and~~an ~~new~~adverse ~~competitors, could result~~ change in aits ~~material~~business, ~~reduction~~that incustomer ~~our~~could ~~revenues, cash~~reduce ~~flows~~its ~~and~~purchases ~~profitability~~from us.

The consolidation ~~loss~~and combination of amanufacturers ~~major~~could ~~customer,~~eliminate customers and/or aput ~~material~~downward pricing pressures on sales of component ~~adverse~~parts. ~~change~~In inaddition, if one of our customers is acquired or merged with another entity, the new entity may discontinue using us as a ~~major~~supplier because ~~customer’s~~of an existing business relationship between one of our competitors and the acquiring company, or because it may be more efficient to consolidate certain suppliers within the newly formed enterprise. The significance of the impact that such consolidations could ~~result~~have on our business is difficult to predict because we do not know when or if one or more of our customers will engage in amerger or acquisition activity. However, if such activity involved our material ~~reduction~~customers init could materially impact our revenues, cash flows and profitability.

~~Our top ten customers collectively~~Weakness ~~accounted~~in ~~for~~any ~~approximately~~of ~~44%,~~the ~~44%~~industries ~~and~~in ~~41%~~which of our ~~net~~customers ~~sales during fiscal 2025~~operate, ~~2024~~as ~~and~~well ~~2023,~~as ~~respectively. Accordingly,~~ the ~~loss~~cyclical ~~of one~~nature ~~or more~~ of ~~those~~our customers ~~or a substantial decrease in those customers~~’ ~~purchases~~businesses ~~from us~~ generally, could ~~result~~materially inreduce ~~a material reduction in~~ our revenues, cash flows and profitability. ~~If one of our major customers were to experience an adverse change in its business, that customer could reduce its purchases from us.~~

The mining ~~consolidation~~ and ~~combination of~~construction ~~manufacturers~~equipment ~~could eliminate customers~~ and~~/or~~ ~~put~~other ~~downward~~diversified ~~pricing~~industrial ~~pressures~~markets onto ~~sales~~which ofwe ~~component~~sell ~~parts.~~products ~~In addition~~are, ifto ~~one~~varying ofdegrees, ~~our~~cyclical ~~customers~~and istend ~~acquired~~to ordecline ~~merged~~in ~~with~~response ~~another~~to ~~entity,~~overall ~~the~~declines ~~new~~in ~~entity~~industrial ~~may~~production. ~~discontinue~~Margins ~~using~~in usthose asindustries aare ~~supplier~~highly ~~because~~sensitive ofto ~~an existing business~~demand ~~relationship~~cycles, ~~between~~and ~~one~~our ofcustomers (or our ~~competitors~~customers’ ~~and~~customers) ~~the~~in ~~acquiring~~those ~~company,~~industries orhistorically ~~because~~have ittended ~~may~~to bedelay ~~more~~large ~~efficient~~capital topurchases and ~~consolidate~~projects, ~~certain~~including ~~suppliers within~~expensive ~~the~~maintenance ~~newly~~and ~~formed~~upgrades, ~~enterprise~~during economic downturns. ~~The~~As ~~significance~~a ofresult, ~~the~~our ~~impact~~business ~~that~~is ~~such~~also ~~consolidations~~cyclical, ~~could~~and the ~~have~~demand onfor our ~~business~~products isby ~~difficult~~these ~~to predict~~customers ~~because~~depends, wein dopart, ~~not~~on ~~know~~overall ~~when~~levels orof ifindustrial ~~one~~production, orgeneral ~~more~~economic conditions, and business confidence levels. Many of our customers ~~will~~have ~~engage~~historically inexperienced ~~merger~~periodic ordownturns, ~~acquisition~~which ~~activity.~~often ~~However,~~have ifhad ~~such~~a negative ~~activity~~effect ~~involved~~on demand for our ~~material~~products. ~~customers~~Future itdownward economic cycles or customer downturns could ~~materially~~reduce ~~impact~~sales of our products resulting in reductions in our revenues, cash flows and profitability.

9Future reductions or changes in U.S. government spending could negatively affect our business.

~~Weakness~~In fiscal in2026, ~~any~~approximately 1% of ~~the~~our ~~industries~~net insales ~~which our~~were ~~customers~~made ~~operate~~directly, asand ~~well~~we asestimate that approximately an additional 7% of our net sales were made indirectly, to the ~~cyclical~~U.S. ~~nature~~government to support military or other government projects. Our failure (or the failure of our customers’ that ~~businesses~~are ~~generally~~prime contractors to the government) to obtain new government contracts, the cancellation of government contracts relating to our products, or reductions in federal budget appropriations for programs in which our products are used could materially reduce our revenues, cash flows and profitability. A reduction in federal budget appropriations relating to our products could result from a shift in government defense spending to other programs in which we are not involved or a reduction in U.S. government defense spending generally (due to budget reduction initiatives or a shift in government spending priorities).

~~The mining and construction~~Fluctuating ~~equipment~~supply and ~~other~~costs diversified industrial industries to which we sell our products are, to varying degrees, cyclical and tend to decline in response to overall declines in industrial production. Margins in those industries are highly sensitive to demand cycles, and our customers (or our customers’ customers) in those industries historically have tended to delay large capital purchases and projects, including expensive maintenance and upgrades, during economic downturns. As a result, our business is also cyclical, and the demand for our products by these customers depends, in part, on overall levels of ~~industrial production~~subcomponents, ~~general~~raw ~~economic~~materials ~~conditions,~~ and ~~business~~energy ~~confidence levels.~~resources ~~Many of our customers have historically experienced periodic downturns, which often have had a negative effect on demand for our products. Future downward economic cycles or customer downturns~~ could materially reduce ~~sales of~~ our ~~products resulting in reductions in our~~ revenues, cash flows and profitability.

~~Future~~Our business ~~reductions~~is dependent on the availability and costs of subcomponents, raw materials, particularly steel (generally in the form of stainless and chrome steel, which are commodity steel products), and energy resources. The availability and prices of subcomponents, raw materials and energy resources may be subject to change due to, among other things, new laws or regulations, economic inflation, suppliers’ allocations to other purchasers, interruptions in production or deliveries by suppliers and changes in Uexchange rates and supplier costs and profit expectations.S Although we currently maintain alternative supply sources, our business is subject to the risk of price fluctuations and periodic delays in the delivery of certain subcomponents or raw materials. ~~government~~Disruptions in the supply of subcomponents, raw materials ~~spending~~or energy resources could ~~negatively~~temporarily impair our ability to manufacture our products for our customers or require us to pay higher prices in order to obtain these items from other sources, which could thereby affect our ~~business~~net sales and profitability.

InWhere our ~~fiscal~~customer ~~2025~~contracts permit us to do so, ~~approximately 3%~~we seek to pass through a significant portion of our ~~net~~additional ~~sales~~costs ~~were~~to ~~made~~our ~~directly,~~customers ~~and~~through steel wesurcharges ~~estimate~~or ~~that~~price ~~approximately~~increases. anHowever, ~~additional~~many 9% of our ~~net~~contracts ~~sales~~are ~~were~~fixed-price ~~made~~contracts ~~indirectly,~~under which we are not able to pass these ~~the~~additional ~~U.S.~~costs ~~government~~on to ~~support~~our ~~military~~customers. orEven ~~other~~where ~~government~~we ~~projects.~~are ~~Our~~able ~~failure~~to (pass these steel surcharges or ~~the~~price ~~failure~~increases ofto our customers, ~~that~~there may ~~are~~be ~~prime~~a ~~contractors to~~lag of several months between the ~~government)~~time towe ~~obtain~~experience ~~new~~a ~~government~~cost ~~contracts,~~increase and the ~~cancellation~~time ofwe ~~government~~are ~~contracts~~able ~~relating~~ to ~~our~~implement ~~products,~~surcharges or ~~reductions~~price inincreases, ~~federal~~particularly ~~budget appropriations~~ for ~~programs~~orders already in ~~which~~ our ~~products~~backlog. ~~are~~Competitive ~~used~~pressures ~~could~~and ~~materially~~the ~~reduce~~terms ~~our~~of ~~revenues,~~certain ~~cash~~of ~~flows~~our ~~and~~long-term ~~profitability.~~contracts Amay ~~reduction~~require inus ~~federal~~to ~~budget~~absorb ~~appropriations~~at ~~relating~~least topart of these cost increases. As a result, our ~~products~~gross margin percentage could ~~result~~decline. ~~from~~We acannot ~~shift~~provide assurances inthat ~~government~~we ~~defense~~will ~~spending~~be able to ~~other programs~~continue into ~~which~~pass wethese ~~are~~additional ~~not~~costs ~~involved~~on to our customers at all or on a ~~reduction~~timely inbasis ~~U.S.~~or ~~government~~that ~~defense~~our customers ~~spending~~will ~~generally~~not ~~(due~~seek toalternative ~~budget~~sources ~~reduction~~of ~~initiatives~~ supply if there are significant or aprolonged ~~shift~~increases in ~~government~~the ~~spending~~price ~~priorities)~~of subcomponents or other raw materials or energy resources.

~~Fluctuating supply and costs of subcomponents, raw materials and energy resources could materially reduce our revenues, cash flows and profitability.~~10

Our business is dependent on the availability and costs of subcomponents, raw materials, particularly steel (generally in the form of stainless and chrome steel, which are commodity steel products), and energy resourcesU.S. ~~The availability~~ and ~~prices~~international ofimport ~~subcomponents,~~tariffs ~~raw materials~~ and ~~energy resources~~ ~~may be subject to change due to, among~~ other ~~things,~~trade ~~new~~policies laws or regulations, economic inflation, suppliers’ allocations to other purchasers, interruptions in production or deliveries by suppliers and changes in exchange rates and supplier costs and profit expectations. Although we currently maintain alternative supply sources, our business is subject to the risk of price fluctuations and periodic delays in the delivery of certain subcomponents or raw materials. Disruptions in the supply of subcomponents, raw materials or energy resources could ~~temporarily~~adversely ~~impair our ability to manufacture our products for our customers or require us to pay higher prices in order to obtain these items from other sources, which could thereby~~ affect our ~~net~~revenue ~~sales~~ and ~~profitability~~profit margin.

~~Where~~The ~~our~~United ~~customer~~States ~~contracts~~imposes ~~permit~~tariffs uson tomany doof ~~so,~~the weraw ~~seek~~materials toand ~~pass~~component ~~through~~parts awe ~~significant~~import ~~portion~~from offoreign ~~our~~sources ~~additional~~(including ~~costs to~~ our ~~customers~~foreign ~~through~~operations) ~~steel~~to ~~surcharges or~~support ~~price~~our ~~increases~~U.S. ~~However,~~manufacturing ~~many~~operations. ofMost ~~our~~notably, ~~contracts~~steel, ~~are fixed-price contracts under~~ which weis ~~are not able to pass these additional costs on to~~ our ~~customers.~~largest ~~Even~~raw ~~where~~material weimport, ~~are~~is ~~able~~subject to ~~pass~~what ~~these~~is ~~steel~~known ~~surcharges~~as ~~or price increases to our customers, there may be~~ a ~~lag of several~~“Section ~~months~~232 ~~between~~tariff.” ~~the~~These ~~time~~tariffs weincrease ~~experience~~our a cost ~~increase and the time we are able to implement surcharges or price increases, particularly~~ for ~~orders~~imported ~~already~~raw inmaterials ~~our backlog. Competitive pressures~~ and ~~the~~component ~~terms~~parts, ofwhich ~~certain~~decreases of our ~~long-term~~profitability ~~contracts may require us~~ to ~~absorb~~ atthe ~~least~~extent ~~part of these cost increases. As a result, our gross margin percentage could decline. We cannot provide assurances~~ that we ~~will be~~are ~~able~~unable to ~~continue to~~ pass ~~these~~the ~~additional~~increased ~~costs~~cost on to our customers at all or on a timely basis or that our customers will not seek alternative sources of supply if there are significant or prolonged increases in the price of subcomponents or other raw materials or energy resources.

~~Changes~~In addition to driving up our operating costs, these tariffs and ~~uncertainty~~other changes in U.S. ~~and international~~ trade policy, ~~including~~have ~~import~~caused foreign countries to implement retaliatory tariffs and ~~imposed~~other byresponsive ~~the~~trade policies that apply to our U.S.-manufactured ~~and~~products ~~other~~sold in those countries, thereby causing those products to be more expensive, which may reduce our sales in those countries, thereby adversely affecting our revenue, cash flow and profitability. In addition, any foreign tariff-driven reduction in sales of our customers’ products into which our products are integrated will correspondingly reduce the ~~resulting~~demand ~~consequences~~for our products, ~~could~~thereby adversely ~~affect~~ affecting our revenue, profitability and ~~profit~~cash ~~margin~~flow.

In early 2025, the United States imposed tariffs on a vast range of imported goods, including steel and other raw materials needed in our U.S. manufacturing operations, as part of ongoing trade actions against the People’s Republic of China and most other foreign countries. The ~~changes~~international ~~in U.S.~~ trade ~~policy have resulted in multiple other countries implementing retaliatory tariffs and other responsive trade policies that apply to our U.S.-manufactured products sold in their markets. The~~ situation is very fluid ~~at this time,~~ and subject to rapid change, including litigation, as the U.S. increases, decreases, suspends or reinstates tariffs against various countries and products and those countries respond. The tariffs and retaliatory tariffs are driving escalating global trade conflicts which have led to, and may continue to lead to, inflationary pressures and uncertainty, which could impact our operations.

10While we have not experienced a material impact on our business to date, no assurance can be given that will continue to be the case. We are continuing to evaluate the trade situation as it evolves and we are assessing mitigation strategies, including supply chain adjustments and pricing actions. The ultimate impact of tariffs on our operations and financial results is currently uncertain and will depend on the scope, duration, and potential expansion of the measures implemented.

~~Specifically, U.S.-imposed~~Some ~~tariffs~~of ~~increase~~ our ~~cost~~products ~~to import raw materials~~ and ~~component parts from foreign sources (including our foreign~~ operations) ~~which~~are ~~will decrease~~subject ~~our profitability~~ to ~~the~~certain ~~extent~~approvals ~~that~~and wegovernment ~~are~~regulations ~~unable~~and ~~to pass~~ the ~~increased~~loss ~~cost~~of onsuch toapprovals, ~~our~~or ~~customers. Any import tariffs imposed on~~ our ~~U.S.-manufactured products by other countries in response~~ failure to ~~U.S.~~comply ~~trade~~with ~~policies~~such ~~will cause those products to be more expensive in those countries~~regulations, ~~which~~could ~~may~~materially reduce our ~~sales in those countries~~revenues, ~~thereby adversely affecting our revenue,~~ cash ~~flow~~flows and profitability. In addition, any tariff-driven reduction in sales of our customers’ products into which our products are integrated will correspondingly reduce the demand for our products, thereby adversely affecting our revenue, profitability and cash flow.

~~While~~Essential to weservicing ~~have~~the ~~not~~Aerospace ~~experienced a~~& ~~material~~Defense ~~impact~~market onis ~~our~~the ~~business~~ability to ~~date,~~obtain noproduct ~~assurance~~approvals. ~~can~~We behave ~~given~~a ~~that~~substantial ~~will~~number ~~continue~~of product approvals, which enable us to beprovide ~~the~~products ~~case~~used in virtually all domestic aircraft platforms presently in production or operation. WeProduct approvals are ~~continuing~~typically toissued ~~evaluate~~ by the ~~trade~~FAA ~~situation~~to asdesignated itOEMs ~~evolves~~who ~~and~~are weProduction ~~are~~Approval ~~assessing~~Holders ~~mitigation~~of ~~strategies,~~FAA-approved aircraft. ~~including~~These ~~supply~~Production ~~chain~~Approval ~~adjustments~~Holders ~~and~~provide ~~pricing~~quality ~~actions. We~~control ~~believe~~oversight and generally limit the ~~majority~~number of ~~our~~suppliers ~~imports~~directly servicing ~~from~~the ~~Mexico~~commercial ~~are~~Aerospace ~~compliant~~market. ~~with~~Regulations enacted by the ~~United~~FAA ~~States-Mexico-Canada~~provide ~~Agreement~~for an independent process (~~“USMCA”~~the PMA process) that ~~and~~enables ~~are~~suppliers who currently ~~exempt~~sell ~~from~~their ~~tariffs~~products ~~upon~~to ~~importing~~the ~~into~~Production ~~the~~Approval ~~United~~Holders ~~States~~to also sell products to the aftermarket. ~~The~~Our foreign ~~ultimate~~sales ~~impact~~may ofbe ~~tariffs~~subject onto ~~our~~similar ~~operations~~approvals ~~and~~or ~~financial results~~U.S. isexport ~~currently~~control ~~uncertain~~restrictions. ~~and~~We cannot assure you that we will ~~depend~~not onlose approvals for our Aerospace products in the ~~scope,~~future. ~~duration,~~The ~~and~~loss ~~potential~~or ~~expansion~~suspension of ~~the~~product ~~measures~~approvals ~~implemented~~could result in lost sales and materially reduce our revenues, cash flows and profitability.

~~Some~~The repair and overhaul of ~~our~~aircraft ~~products~~parts and accessories throughout the world is highly regulated by government agencies, including the FAA. Our repair and overhaul operations are subject to ~~certain~~certification ~~approvals~~pursuant to regulations established by the FAA and foreign government agencies, with regulations ~~and~~varying ~~the~~from ~~loss~~country ofto ~~such approvals~~country, oralthough ~~our~~compliance with FAA requirements generally satisfies regulatory requirements in other countries. Our failure to comply with ~~such~~these regulations, or our compliance with new and more stringent government regulations, if enacted, could ~~materially~~have ~~reduce~~an adverse effect on our ~~revenues~~business, ~~cash~~financial ~~flows~~condition and ~~profitability~~results of operations.

~~Essential~~As a toU.S. ~~servicing~~government ~~the aerospace~~contractor, ~~market~~we isare ~~the~~subject ~~ability~~ to ~~obtain~~various ~~product~~procurement ~~approvals.~~and Weother ~~have~~laws, aregulations ~~substantial~~and ~~number~~contract ofterms ~~product~~applicable ~~approvals, which enable us~~ to ~~provide~~our ~~products~~industry, ~~used~~including inthe ~~virtually~~FAR, ~~all~~the ~~domestic~~DFARS, ~~aircraft~~the ~~platforms~~Truth ~~presently~~ in ~~production~~Negotiations orAct, ~~operation.~~the ~~Product~~False ~~approvals~~Claims ~~are~~Act, ~~typically issued by~~ the ~~FAA~~Procurement toIntegrity ~~designated~~Act, ~~OEMs~~the ~~who~~International Traffic ~~are~~in ~~Production~~Arms ~~Approval~~Regulations ~~Holders~~promulgated ofunder ~~FAA-approved~~the ~~aircraft.~~Arms ~~These~~Export ~~Production~~Control ~~Approval~~Act, ~~Holders~~the ~~provide quality~~Close ~~control oversight and generally limit~~ the ~~number~~Contractor ofFraud ~~suppliers~~Loophole ~~directly~~Act, ~~servicing~~ the ~~commercial~~Foreign ~~aerospace market. Regulations~~Corrupt ~~enacted~~Practices byAct, ~~the~~and ~~FAA~~Cost ~~provide~~Accounting ~~for~~Standards ~~an independent process~~ (~~the PMA process~~CAS), ~~that~~and ~~enables~~we ~~suppliers~~could ~~who~~be ~~currently~~adversely ~~sell~~affected ~~their~~by ~~products~~any tonegative ~~the Production~~finding ~~Approval~~by ~~Holders to also sell products to~~ the ~~aftermarket. Our foreign sales may be subject to similar approvals or~~ U.S. ~~export control~~government ~~restrictions.~~as Weto ~~cannot assure you that we will not lose approvals for~~ our ~~aerospace~~compliance ~~products~~with inthem, including ~~the~~suspension ~~future. The loss~~ or ~~suspension of~~debarment ~~product~~from ~~approvals~~future ~~could~~government ~~result in lost sales and materially reduce our revenues, cash flows and profitability~~contracting.

The repair and overhaul of aircraft parts and accessories throughout the world is highly regulated by government agencies, including the FAA. Our repair and overhaul operations are subject to certification pursuant to regulations established by the FAA and foreign government agencies, with regulations varying from country to country, although compliance with FAA requirements generally satisfies regulatory requirements in other countries. Our failure to comply with these regulations, or our compliance with new and more stringent government regulations, if enacted, could have an adverse effect on our business, financial condition and results of operations.11

~~As a U.S. government contractor,~~The weretirement ~~are~~of ~~subject~~commercial toaircraft ~~various~~could ~~procurement~~reduce ~~and other laws, regulations and contract terms applicable to~~ our ~~industry~~revenues, ~~including~~cash ~~the~~flows FAR, the DFARS, the Truth in Negotiations Act, the False Claims Act, the Procurement Integrity Act, the International Traffic in Arms Regulations promulgated under the Arms Export Control Act, the Close the Contractor Fraud Loophole Act, the Foreign Corrupt Practices Act, and ~~CAS, and we could be adversely affected by any negative finding by the U~~profitability.S. ~~government as to our compliance with them, including suspension or debarment from future government contracting.~~

~~The~~We sell ~~retirement~~replacement parts used in the repair and overhaul of ~~commercial~~jet engine and aircraft ~~could~~components, as well as provide such repair and overhaul services ourselves. As aircraft or engines for which we offer replacement parts or repair and overhaul services are retired, demand for these parts and services could decline and could reduce our ~~revenues~~revenue, cash flows and profitability.

~~We sell replacement parts~~Risks ~~used~~associated inwith ~~the~~utilizing ~~repair~~information ~~and~~technology ~~overhaul~~systems of jet engine and aircraft components, as well as provide such repair and overhaul services ourselves. As aircraft or engines for which we offer replacement parts or repair and overhaul services are retired, demand for these parts and services could ~~decline~~adversely ~~and~~affect ~~could reduce~~ our ~~revenue, cash flows and profitability~~operations.

~~Risks~~We rely ~~associated~~upon ~~with~~our ~~utilizing~~ information technology (“IT”) systems ~~could~~to ~~adversely~~process, ~~affect~~transmit and store electronic information to manage and operate our ~~operations~~business. Further, in the ordinary course of business we store sensitive data, including intellectual property, on our networks. The secure maintenance and transmission of this information is critical to our business operations.

We may ~~rely~~face ~~upon~~cyber events and other IT security threats, including malware, ransomware, phishing and other intrusions, to our IT infrastructure, attempts to gain unauthorized access to proprietary, classified or confidential information, and threats to the physical security of ~~technology~~our (“IT”) systems. As a U.S. government contractor, our risk of cyber events may be greater than the risk faced by other companies that are not government contractors. In addition to ~~process~~security threats, ~~transmit~~our ~~and~~IT ~~store~~systems ~~electronic~~may ~~information~~also be subject to ~~manage~~network, ~~and~~software ~~operate~~or hardware failures. The unavailability of our ~~business.~~IT ~~Further~~systems, in the ~~ordinary~~failure ~~course~~of these systems to perform as anticipated, or any significant breach of data ~~business~~security wecould ~~store~~cause ~~sensitive~~loss of data, ~~including~~disrupt ~~intellectual~~our ~~property~~operations, onrequire significant management attention and resources, subject us to liability to third parties or regulatory actions or contract termination, and negatively impact our ~~networks.~~reputation ~~The~~among ~~secure~~our ~~maintenance~~customers and ~~transmission~~the ofpublic, ~~this~~which ~~information~~could ishave ~~critical~~a tonegative impact on our ~~business~~financial and competitive position, results of operations and liquidity. In addition, our business with our customers and vendors could be impacted by cyber events on their IT systems.

11To address the risk to our IT systems and data, we maintain an IT security program designed to resist cyber events and to mitigate the damage from successful events. Refer to Part I, Item 1C of this Annual Report for details regarding our data protection and cybersecurity risk management program.

~~We may face cyber events and~~Work ~~other~~stoppages ~~IT security threats, including malware, ransomware, phishing~~ and other ~~intrusions,~~labor toproblems our IT infrastructure, attempts to gain unauthorized access to proprietary, classified or confidential information, and threats to the physical security of our IT systems. As a U.S. government contractor, our risk of cyber events may be greater than the risk faced by other companies that are not government contractors. In addition to security threats, our IT systems may also be subject to network, software or hardware failures. The unavailability of our IT systems, the failure of these systems to perform as anticipated, or any significant breach of data security could ~~cause~~materially ~~loss~~reduce ~~of data, disrupt~~ our ~~operations,~~ ~~require~~ability ~~significant management attention and resources, subject us~~ to ~~liability~~operate ~~to third parties or regulatory actions or contract termination, and negatively impact~~ our ~~reputation among our customers and the public, which could have a negative impact on our financial and competitive position, results of operations and liquidity. In addition, our~~ business ~~with our customers and vendors could be impacted by cyber events on their IT systems~~.

ToWe currently ~~address~~have ~~the~~three ~~risk~~collective tobargaining agreements covering employees at our IT ~~systems~~Plymouth, Indiana, Fairfield, Connecticut and ~~data~~West Trenton, New Jersey facilities, representing approximately 4% of our U.S.-based hourly employees as of March 28, 2026. While we ~~maintain~~believe anour ITrelations with ~~security~~our ~~program~~employees ~~designed~~are tosatisfactory, ~~resist~~the ~~cyber~~inability ~~events~~to satisfactorily negotiate and toenter ~~mitigate~~into ~~the~~new ~~damage~~collective ~~from~~bargaining ~~successful~~agreements ~~events.~~upon ~~Refer~~expiration, toor ~~Part~~a Ilengthy strike or other work stoppage at any of our facilities, ~~Item~~particularly 1Cat some of ~~this~~our ~~Annual~~larger ~~Report~~facilities, ~~for~~could materially ~~details~~reduce ~~regarding~~our ability to operate our ~~data~~business. ~~protection~~In ~~and~~addition, ~~cybersecurity~~any ~~risk~~attempt ~~management~~by ~~program~~our employees not currently represented by a union to join a union could result in additional expenses, including with respect to wages, benefits and pension obligations.

~~Work~~In addition, work stoppages ~~and~~at ~~other~~one ~~labor~~or ~~problems~~more of our customers or suppliers (including suppliers of transportation services), many of which have large unionized workforces, could ~~materially~~also ~~reduce~~cause disruptions to our ~~ability~~business tothat ~~operate~~we cannot control, and these disruptions could materially reduce our ~~business~~revenues, cash flows and profitability.

~~We currently have three collective~~Unexpected ~~bargaining~~equipment ~~agreements~~failures ~~covering~~or ~~employees~~catastrophic atevents ~~our~~could ~~Plymouth,~~increase ~~Indiana, Fairfield, Connecticut and West Trenton, New Jersey facilities, representing approximately 7% of~~ our ~~U.S.-based~~costs ~~hourly employees as of March 29, 2025. While we believe our relations with our employees are satisfactory, the inability to satisfactorily negotiate~~ and ~~enter into new collective bargaining agreements upon expiration, or a lengthy strike or other work stoppage at any of our facilities, particularly at some of our larger facilities, could materially~~ reduce our ~~ability~~sales todue ~~operate our business. In addition, any attempt by our employees not currently represented by a union~~ to ~~join~~production acurtailments ~~union~~or ~~could result in additional expenses, including with respect to wages, benefits and pension obligations~~shutdowns.

InOur manufacturing ~~addition~~processes are dependent upon critical pieces of turning, ~~work~~milling, ~~stoppages~~grinding, and electrical equipment, and this equipment atcould, ~~one~~on oroccasion, ~~more~~be out of ~~our~~service ~~customers~~as ora ~~suppliers~~result ~~(including~~of ~~suppliers~~unanticipated offailures. ~~transportation~~In ~~services)~~addition to equipment failures, ~~many~~our facilities are also subject to the risk of ~~which~~catastrophic ~~have~~loss ~~large~~due ~~unionized~~to ~~workforces~~unanticipated events such as fires, explosions, earthquakes or violent weather conditions. In the future, we could ~~also~~experience ~~cause~~material ~~disruptions~~plant toshutdowns ~~our~~or ~~business~~periods ~~that~~of wereduced ~~cannot~~production ~~control,~~as ~~and~~a result of these ~~disruptions~~types ~~could~~of ~~materially~~equipment failures ~~reduce~~or catastrophes. Interruptions in production capabilities would inevitably increase our production costs and reduce revenues, ~~cash~~ cash flows and profitability for the affected period.

~~Unexpected equipment failures or catastrophic events could increase our costs and reduce our sales due to production curtailments or shutdowns.~~12

~~Our manufacturing processes~~We ~~are~~may ~~dependent~~not ~~upon critical pieces of turning, milling, grinding, and electrical equipment, and this equipment could, on occasion,~~ be ~~out~~ ofable ~~service as a result of unanticipated failures. In addition~~ to ~~equipment~~continue ~~failures, our facilities are also subject~~ to make the ~~risk~~acquisitions ~~of catastrophic~~necessary ~~loss~~for ~~due~~us to ~~unanticipated~~realize events such as fires, explosions, earthquakes or violent weather conditions. In the future, we could experience material plant shutdowns or periods of reduced production as a result of these types of equipment failures or catastrophes. Interruptions in production capabilities would inevitably increase our ~~production~~growth ~~costs and reduce revenues, cash flows and profitability for the affected period~~strategy.

WeThe acquisition ~~may~~of ~~not~~businesses bethat ~~able~~complement toor ~~continue~~expand toour ~~make~~operations ~~the~~is an important element of our business strategy. We frequently engage in evaluations of potential acquisitions ~~necessary~~and negotiations for possible acquisitions, some of which, if consummated, could be significant to us. We cannot assure you that we will be successful in identifying attractive acquisition candidates or completing acquisitions on favorable terms in the future. Our inability to ~~realize~~acquire businesses, or to operate them profitably once acquired, could have a material adverse effect on our ~~growth~~business, ~~strategy~~financial position, cash flow and growth.

~~The acquisition of businesses~~Our ~~that~~ability ~~complement~~to orrealize ~~expand~~anticipated ~~our~~benefits ~~operations~~and issynergies anfrom ~~important element of~~ our ~~business~~acquisitions ~~strategy.~~could Webe ~~frequently~~affected ~~engage~~by ina ~~evaluations~~number of ~~potential acquisitions~~factors, ~~and~~including: ~~negotiations~~the need for ~~possible~~greater ~~acquisitions,~~than ~~some~~expected ofcash ~~which,~~or ifother ~~consummated,~~financial ~~could~~resources beor ~~significant~~management totime ~~us.~~in Weorder ~~cannot~~to ~~assure~~implement ~~you that~~or weintegrate ~~will~~acquisitions; increases ~~be successful~~ in ~~identifying~~other ~~attractive~~expenses ~~acquisition~~related ~~candidates~~to oran ~~completing~~acquisition, ~~acquisitions~~including onrestructuring ~~favorable~~and ~~terms~~other inexit costs; the ~~future. Our~~timing ~~inability~~and toimpact ~~acquire~~of ~~businesses,~~purchase accounting oradjustments; todifficulties ~~operate~~in ~~them~~employee ~~profitably~~or ~~once~~management ~~acquired~~integration, ~~could~~including ~~have~~labor adisruptions ~~material~~or ~~adverse~~disputes; ~~effect~~and ~~on our business,~~unanticipated ~~financial~~liabilities ~~position,~~associated ~~cash~~with ~~flow~~acquired ~~and growth~~businesses.

~~Our ability to realize anticipated~~Any ~~benefits~~potential ~~and~~cost-saving ~~synergies~~opportunities ~~from~~may ~~our~~take ~~acquisitions~~several ~~could~~quarters ~~be affected by a number of factors, including: the need for greater than expected cash~~ or ~~other~~years ~~financial~~following ~~resources~~an oracquisition ~~management time in order~~ to implement ~~or integrate acquisitions; increases in other expenses related to an acquisition~~, ~~including restructuring~~ and ~~other~~any ~~exit~~results ~~costs; the timing and impact~~ of ~~purchase accounting adjustments; difficulties in~~these ~~employee~~actions ormay ~~management~~not ~~integration,~~be ~~including~~realized ~~labor~~for ~~disruptions~~several orquarters ~~disputes;~~thereafter, ~~and~~if ~~unanticipated~~at ~~liabilities associated with acquired businesses~~all.

~~Any potential cost-saving~~Businesses ~~opportunities~~that ~~may~~we ~~take~~acquire ~~several quarters following an acquisition to implement, and any results of these actions~~ may ~~not~~have beliabilities ~~realized~~ for ~~several~~ ~~quarters~~which ~~thereafter,~~we ifare ~~at all~~liable.

12In order to complete an acquisition, it may be necessary for us to assume the liabilities of the acquired business. These liabilities may be known at the time of the acquisition, but could be underestimated by us, or they may not be known to us until after the acquisition. In the case of an acquisition in which we do not assume all the liabilities of the acquired business, we typically obtain indemnification from the seller against the unassumed liabilities, although no assurance can be given that such indemnification will be sufficient in amount, scope or duration to fully offset the risk of the unassumed liabilities. Liabilities of acquired businesses that ultimately are borne by us (either because we assume them or our indemnification right proves to be insufficient or unenforceable) could have a material adverse effect on our business, financial condition or results of operations. In addition, after we complete an acquisition we may learn of other matters that adversely affect us, such as issues relating to the acquired business’s compliance with applicable laws, or issues relating to its supply chain, customer relationships or order demand.

~~Businesses~~Goodwill and ~~that~~indefinite-lived intangibles comprise a significant portion of our total assets, and if we ~~acquire~~determine ~~may~~that ~~have~~goodwill ~~liabilities~~and indefinite-lived ~~for~~intangibles ~~which~~have webecome ~~are~~impaired ~~liable~~in the future, our results of operations and financial condition in such years may be materially and adversely affected.

~~In order to complete an acquisition,~~Goodwill itrepresents ~~may be necessary for us to assume~~ the ~~liabilities~~excess of ~~the~~cost ~~acquired~~over ~~business.~~the ~~These~~fair ~~liabilities~~market ~~may~~value beof ~~known~~net atassets ~~the~~acquired ~~time~~in ofbusiness ~~the~~combinations. ~~acquisition,~~Indefinite-lived intangibles ~~but~~represent ~~could~~repair bestation ~~underestimated~~certifications byobtained ~~us,~~in orbusiness ~~they~~combinations ~~may~~and ~~not~~assumed ~~be known~~ to ushave ~~until~~indefinite ~~after the acquisition~~lives. InAs ~~the case~~ of anMarch ~~acquisition~~28, ~~in which~~2026, we dohad ~~not~~$2,003.4 ~~assume~~of ~~all~~goodwill ~~the~~and ~~liabilities~~$24.3 of ~~the~~indefinite-lived ~~acquired business~~intangibles, werepresenting ~~typically~~approximately ~~obtain~~40% ~~indemnification~~of ~~from~~our ~~the~~total ~~seller~~assets. ~~against~~We ~~the unassumed~~review ~~liabilities,~~goodwill ~~although~~and noindefinite-lived ~~assurance~~intangibles ~~can~~at beleast ~~given~~annually ~~that~~for ~~such~~impairment ~~indemnification~~and ~~will~~any beexcess ~~sufficient~~ in ~~amount,~~carrying ~~scope~~value orover ~~duration~~the toestimated ~~fully~~fair ~~offset~~value ~~the~~is ~~risk~~charged ofto the ~~unassumed~~results ~~liabilities~~of operations. ~~Liabilities~~Our estimates of ~~acquired~~fair ~~businesses~~value ~~that ultimately~~ are ~~borne~~based byon usassumptions ~~(either~~about ~~because~~the wefuture ~~assume~~operating ~~them~~cash flows, orgrowth ~~our~~rates, ~~indemnification~~discount ~~right~~rates ~~proves~~applied to bethese ~~insufficient~~cash ~~or unenforceable) could have a material adverse effect on our business~~flows, ~~financial condition~~and orcurrent ~~results~~market estimates of ~~operations~~value. InIf ~~addition, after~~ we ~~complete~~are anrequired ~~acquisition~~to werecord ~~may~~a ~~learn of other matters that adversely affect~~charge ~~us,~~to ~~such~~earnings asbecause ~~issues~~of ~~relating~~an toimpairment ~~the~~of ~~acquired~~goodwill ~~business’s~~or ~~compliance~~indefinite-lived ~~with applicable laws~~intangibles, orour ~~issues~~results ~~relating~~of tooperations ~~its~~and ~~supply~~financial ~~chain,~~condition could ~~customer~~be ~~relationships~~materially orand ~~order~~adversely ~~demand~~affected.

~~Goodwill and indefinite-lived intangibles~~We ~~comprise~~depend aheavily ~~significant~~on ~~portion of~~ our ~~total~~senior ~~assets,~~management and ifother wekey ~~determine~~personnel, ~~that~~the ~~goodwill~~loss ~~and~~of ~~indefinite-lived~~whom ~~intangibles~~could ~~have~~materially ~~become~~affect ~~impaired in the future,~~ our ~~results of operations and~~ financial ~~condition~~performance ~~in such years may be materially~~ and ~~adversely affected~~ prospects.

~~Goodwill represents the excess~~Our ~~of cost over the fair market value of net assets acquired in~~ business ~~combinations.~~is ~~Indefinite-lived~~managed ~~intangibles~~by ~~represent~~a ~~repair~~number ~~station certifications obtained in business combinations and assumed to have indefinite lives. As~~ of ~~March~~key 29personnel, ~~2025,~~including weour ~~had~~CEO ~~$1,872~~Dr.2 Michael ~~of goodwill and $24~~J.3 ~~of indefinite-lived intangibles, representing approximately 40% of our total assets~~Hartnett. ~~We review goodwill and indefinite-lived intangibles at least annually for impairment and any excess in carrying value over the estimated fair value is charged to the results of operations.~~ Our ~~estimates~~future ofsuccess ~~fair~~will ~~value~~depend ~~are based~~ on ~~assumptions about the future operating cash flows~~, among ~~growth~~other ~~rates~~things, ~~discount~~our ~~rates applied~~ability to ~~these~~retain ~~cash~~the ~~flows,~~services ~~and current market estimates~~ of ~~value.~~these Ifpersonnel weand ~~are required~~ to ~~record~~hire atheir ~~charge~~successors toand ~~earnings~~other ~~because~~highly ofqualified ~~an impairment~~employees ofat ~~goodwill~~all ~~or indefinite-lived intangibles, our results of operations and financial condition could be materially and adversely affected~~levels.

~~We depend heavily on our senior management~~Our ~~and~~international ~~other~~operations ~~key~~are ~~personnel,~~subject ~~the~~to ~~loss~~risks ofinherent ~~whom~~in ~~could~~such ~~materially affect our financial performance and prospects~~activities.

~~Our business is managed by~~We ahave ~~number~~operations ofin ~~key~~Australia, ~~personnel~~England, ~~including~~Canada, ~~our~~France, ~~CEO~~Germany, ~~Dr. Michael~~India, J.Mexico, ~~Hartnett.~~the ~~Our~~Peoples ~~future~~Republic ~~success~~of ~~will depend on~~China, ~~among~~Poland ~~other~~and ~~things,~~Switzerland. Of our ~~ability~~ to65 ~~retain~~facilities ~~the~~in ~~services~~11 ofcountries, ~~these~~21 ~~personnel~~are ~~and~~located tooutside ~~hire~~the ~~their~~U.S., ~~successors~~including ~~and~~12 ~~other~~manufacturing ~~highly~~facilities ~~qualified~~in ~~employees~~four ~~at all levels~~countries.

~~Our~~In fiscal 2026, approximately 11% of our net sales were generated by our international operations. Our foreign operations are subject to the risks inherent in such activities such as: currency devaluations, logistical and communication challenges, costs of complying with a variety of foreign laws and regulations, greater difficulties in protecting and maintaining our rights to intellectual property, difficulty in staffing and managing geographically diverse operations, acts of terrorism or war or other acts that may cause social disruption which are difficult to quantify or predict, and general economic conditions in these foreign markets. Our international operations may be negatively impacted by changes in government policies, such as changes in laws and regulations, restrictions on imports and exports, sources of supply, duties or tariffs, the introduction of measures to control inflation, and changes in the rate or method of taxation. To date we have not experienced significant difficulties with the foregoing risks associated with our international operations.

We have operations in Australia, England, Canada, France, Germany, India, Mexico, the Peoples Republic of China, Poland and Switzerland. Of our 54 facilities in 11 countries, 20 are located outside the U.S., including 12 manufacturing facilities in four countries.13

~~In fiscal 2025, approximately~~Currency ~~11%~~translation ~~of our net sales were generated by our international operations. Our foreign operations are subject to the~~ risks ~~inherent~~may inhave ~~such activities such as: currency devaluations, logistical and communication challenges, costs of complying with~~ a ~~variety~~material ofimpact ~~foreign~~on ~~laws and regulations, greater difficulties in protecting and maintaining~~ our ~~rights~~results ~~to intellectual property, difficulty in staffing and managing geographically diverse operations, acts~~ of ~~terrorism or war or other acts that may cause social disruption which are difficult to quantify or predict, and general economic conditions in these foreign markets. Our international~~ operations may be negatively impacted by changes in government policies, such as changes in laws and regulations, restrictions on imports and exports, sources of supply, duties or tariffs, the introduction of measures to control inflation, and changes in the rate or method of taxation. ~~To date we have not experienced significant difficulties with the foregoing risks associated with our international operations.~~

~~Currency~~The majority of our foreign operations utilize the local currency as their functional currency. Foreign currency transaction gains and losses are included in earnings. Foreign currency transaction exposure arises primarily from the transfer of foreign currency from one subsidiary to another within the group and to foreign currency-denominated trade receivables and payables. Unrealized currency translation ~~risks~~gains and ~~may~~losses are recorded on the balance sheet upon translation of the foreign operations’ functional currency to the reporting currency. Because our financial statements are denominated in U.S. dollars, changes in currency exchange rates between the U.S. dollar and the currencies used by our international operations have ahad, ~~material~~and will continue to have, an impact on our earnings. We periodically enter into derivative financial instruments such as cross currency swaps to reduce the effect of fluctuations in exchange rates on transactions and account balances denominated in non-functional currencies. Currency fluctuations may affect our financial performance in the future and we cannot predict the impact of future exchange rate fluctuations on our results of operations. See Part II, Item 7A. “Quantitative and Qualitative Disclosures about Market Risk—Foreign Currency Exchange Rates” of this Annual Report on Form 10-K.

~~The majority of our foreign~~We ~~operations~~may ~~utilize~~incur ~~the~~material ~~local currency as their functional currency. Foreign currency transaction gains and~~ losses ~~are~~for ~~included~~product inliability ~~earnings. Foreign currency transaction exposure arises primarily from the transfer of foreign currency from one subsidiary to another within the group~~ and ~~to foreign currency~~recall-~~denominated~~related ~~trade receivables~~claims. Unrealized currency translation gains and losses are recorded on the balance sheet upon translation of the foreign operations’ functional currency to the reporting currency. Because our financial statements are denominated in U.S. dollars, changes in currency exchange rates between the U.S. dollar and the currencies used by our international operations have had, and will continue to have, an impact on our earnings. We periodically enter into derivative financial instruments such as cross currency swaps to reduce the effect of fluctuations in exchange rates on transactions and account balances denominated in non-functional currencies. Currency fluctuations may affect our financial performance in the future and we cannot predict the impact of future exchange rate fluctuations on our results of operations. See Part II, Item 7A. “Quantitative and Qualitative Disclosures about Market Risk—Foreign Currency Exchange Rates” of this Annual Report on Form 10-K.

We are subject to a risk of product and recall-related liability in the event that the failure, use or misuse of any of our products results in personal injury, death or property damage or our products do not conform to our customers’ specifications. In particular, our products are installed in a number of types of vehicle fleets, including airplanes, helicopters, trains, automobiles, heavy trucks and farm equipment, many of which may ~~incur~~be ~~material~~subject ~~losses~~to ~~for~~government-ordered recalls as well as voluntary recalls by the manufacturer. If one of our products is found to be defective, causes a fleet to be disabled or otherwise results in a product recall, significant claims may be brought against us. We currently maintain insurance coverage for product liability ~~and~~claims but not for recall-related claims. We cannot assure you that product liability claims, if made, would not exceed our insurance coverage limits. Claims that are not covered by insurance, or that exceed insurance coverage limits, could result in material losses. Claims that are covered by insurance could result in increased future insurance costs.

~~We are subject to a risk of~~Our ~~product~~intellectual property and ~~recall-related~~proprietary ~~liability~~information inare ~~the event that the failure~~valuable, ~~use~~and ~~or misuse of~~ any ofinability ~~our products results in personal injury, death or property damage or our products do not conform~~ to ~~our~~protect ~~customers’~~them ~~specifications.~~could Inadversely ~~particular,~~affect our ~~products are installed in a number~~business ~~of types of vehicle fleets, including airplanes, helicopters, trains, automobiles, heavy trucks~~ and ~~farm~~results ~~equipment, many~~ of ~~which~~operations; ~~may be subject to government-ordered recalls as well as voluntary recalls by the manufacturer. If one of our products is found to be defective, causes a fleet to be disabled or otherwise results~~ in ~~a product recall~~addition, ~~significant~~we ~~claims~~ may be ~~brought~~subject ~~against~~to ~~us.~~infringement ~~We currently maintain insurance coverage for product liability~~ claims ~~but not for recall-related claims. We cannot assure you that product liability claims, if made, would not exceed our insurance coverage limits. Claims that are not covered~~ by ~~insurance,~~third ~~or that exceed insurance coverage limits, could result in material losses~~parties. ~~Claims that are covered by insurance could result in increased future insurance costs.~~

13Our ability to compete effectively is dependent upon our ability to protect and preserve the intellectual property and proprietary information owned, licensed or otherwise used by us. We have numerous U.S. and foreign trademark registrations and patents. We also have U.S. and foreign trademark and patent applications pending. We cannot assure you that our pending trademark and patent applications will result in trademark registrations and issued patents, and our failure to secure rights under these applications may limit our ability to protect the intellectual property rights that these applications were intended to cover. Although we have attempted to protect our intellectual property and proprietary information both in the United States and in foreign countries through a combination of patent, trademark, copyright and trade secret protection, and non-disclosure agreements, these steps may be insufficient to prevent unauthorized use of our intellectual property and proprietary information, particularly in foreign countries where the protection available for such intellectual property and proprietary information may be limited. We cannot assure you that any of our intellectual property rights will not be infringed upon or that our trade secrets will not be misappropriated or otherwise become known to or independently developed by competitors. We may not have adequate remedies available for any such infringement or other unauthorized use. We cannot assure you that any infringement claims asserted by us will not result in our intellectual property being challenged or invalidated, that our intellectual property will be held to be of adequate scope to protect our business, or that we will be able to deter current and former employees, contractors or other parties from breaching confidentiality obligations and misappropriating trade secrets.

~~Our~~We could become subject to litigation claiming that our intellectual property ~~and~~or proprietary information ~~are~~infringes ~~valuable~~the rights of a third party. In that event, we could incur substantial defense costs and, ~~any~~if ~~inability~~such tolitigation ~~protect~~is ~~them~~successful, we could ~~adversely~~be ~~affect~~required to pay the claimant damages for our ~~business~~past use of such intellectual property or proprietary information, and ~~results~~we could either be required to pay royalties for our use of ~~operations;~~it in ~~addition, we~~the ~~may~~future or be ~~subject~~prohibited from using it in the future. Our inability to ~~infringement~~use ~~claims~~our byintellectual ~~third~~property ~~parties~~and proprietary information on a cost-effective basis in the future could have a material adverse effect on our revenue, cash flow and profitability. See Part I, Item 1. “Business—Intellectual Property” of this Annual Report on Form 10-K.

Our ability to compete effectively is dependent upon our ability to protect and preserve the intellectual property and proprietary information owned, licensed or otherwise used by us. We have numerous U.S. and foreign trademark registrations and patents. We also have U.S. and foreign trademark and patent applications pending. We cannot assure you that our pending trademark and patent applications will result in trademark registrations and issued patents, and our failure to secure rights under these applications may limit our ability to protect the intellectual property rights that these applications were intended to cover. Although we have attempted to protect our intellectual property and proprietary information both in the United States and in foreign countries through a combination of patent, trademark, copyright and trade secret protection, and non-disclosure agreements, these steps may be insufficient to prevent unauthorized use of our intellectual property and proprietary information, particularly in foreign countries where the protection available for such intellectual property and proprietary information may be limited. We cannot assure you that any of our intellectual property rights will not be infringed upon or that our trade secrets will not be misappropriated or otherwise become known to or independently developed by competitors. We may not have adequate remedies available for any such infringement or other unauthorized use. We cannot assure you that any infringement claims asserted by us will not result in our intellectual property being challenged or invalidated, that our intellectual property will be held to be of adequate scope to protect our business, or that we will be able to deter current and former employees, contractors or other parties from breaching confidentiality obligations and misappropriating trade secrets.14

~~We could become subject to~~Cancellation ~~litigation claiming that our intellectual property or proprietary information infringes the rights~~ of aorders third party. In that event, we could incur substantial defense costs and, if such litigation is successful, we could be required to pay the claimant damages for our past use of such intellectual property or proprietary information, and we could either be required to pay royalties for our use of it in ~~the future or be prohibited from using it in the future. Our inability to use~~ our ~~intellectual~~backlog ~~property and proprietary information on a cost-effective basis in the future~~ could ~~have~~negatively aimpact ~~material adverse effect on~~ our ~~revenue~~revenues, cash ~~flow~~flows and profitability. ~~See Part I, Item 1. “Business—Intellectual Property” of this Annual Report on Form 10-K.~~

~~Cancellation~~As of March 28, 2026, we had an order backlog of $2.3 billion. However, orders included in our backlog ~~could negatively~~may ~~impact~~be ~~our~~subject ~~revenues~~to cancellation, ~~cash~~delay or ~~flows~~other modifications by our customers and ~~profitability~~we cannot assure you that these orders will ultimately be fulfilled.

~~As of March 29, 2025, we had~~Quarterly anperformance ~~order~~can ~~backlog of $940.7. However, orders included in our backlog may~~ be ~~subject~~affected toby ~~cancellation,~~the ~~delay~~timing orof ~~other~~government ~~modifications~~product byinspections ~~our customers~~ and ~~we cannot assure you that these orders will ultimately be fulfilled~~approvals.

~~Quarterly~~A portion ~~performance~~of ~~can~~our berevenue ~~affected~~is by associated with contracts with the ~~timing~~U.S. government that require onsite inspection and approval of the products by government ~~product~~personnel before we may ship the products, and we have no control over the timing of those inspections and approvals. If products scheduled for delivery in one quarter are not inspected or approved until the following quarter, the delay would adversely affect our sales and profitability for the quarter in which the shipments were scheduled.

AWe incurred ~~portion~~substantial ofdebt ~~our~~in ~~revenue~~order ~~is associated~~to ~~with~~complete ~~contracts with~~ the ~~U.S.~~Dodge ~~government that require onsite inspection~~ and ~~approval~~VACCO ~~of the products by government personnel before we may ship the products~~acquisitions, ~~and~~which wecould ~~have~~constrain noour ~~control~~business ~~over the timing of those inspections~~ and ~~approvals.~~exposes Ifus ~~products scheduled for~~to ~~delivery in one quarter are not inspected or approved until~~ the ~~following~~risk ~~quarter,~~of ~~the~~defaults ~~delay~~under ~~would adversely affect~~ our ~~sales~~debt ~~and profitability for the quarter in which the shipments were scheduled~~instruments.

WeIn fiscal 2022, we incurred ~~substantial~~$1,800.0 ~~debt~~of intotal ~~order~~debt to ~~complete~~ finance the acquisition of Dodge ~~acquisition,~~Industrial ~~which~~and ~~could~~in ~~constrain~~July ~~our~~2025 ~~business~~we ~~and~~incurred ~~exposes~~$200.0 usof debt to finance the ~~risk~~acquisition of ~~defaults~~VACCO ~~under~~Industries. As of March 28, 2026, our total debt ~~instruments~~was $875.5. This debt could or will have important consequences, including, but not limited to:

In● ~~fiscal~~this ~~2022,~~debt werequires ~~incurred $1,800.0~~us ~~of total debt~~ to ~~finance~~make ~~the~~significant ~~Dodge~~interest ~~acquisition.~~and Asprincipal ofpayments ~~March~~in ~~29,~~the ~~2025, our total debt was $920.1. This debt could or will have important consequences, including, but not limited to:~~future;

● ~~this~~a ~~debt~~substantial ~~requires~~portion usof our cash flow from operations will be used to ~~make~~repay ~~significant~~the ~~interest~~principal and ~~principal~~interest ~~payments~~on inour debt, thereby reducing the ~~future~~funds available to us for other purposes including for strategic acquisitions, working capital, capital expenditures, and general corporate purposes;

● ~~a substantial portion of~~ our ~~cash~~flexibility ~~flow~~in ~~from~~planning ~~operations~~for ~~will~~and bereacting ~~used~~ to ~~repay~~changes ~~the~~in ~~principal and interest on~~ our ~~debt~~business, ~~thereby reducing~~ the ~~funds~~competitive ~~available~~landscape toand usthe ~~for~~markets ~~other~~in ~~purposes~~which ~~including~~we ~~for~~operate ~~strategic~~may ~~acquisitions,~~be ~~working~~limited; ~~capital, capital expenditures,~~ and ~~general corporate purposes;~~

● ~~our~~we ~~flexibility~~may inbe ~~planning~~placed ~~for~~at ~~and~~a ~~reacting~~competitive disadvantage relative to ~~changes~~other companies in our ~~business,~~industry ~~the~~with ~~competitive~~less ~~landscape~~debt ~~and~~or ~~the~~comparable ~~markets~~debt inon ~~which~~more wefavorable ~~operate may be limited; and~~terms.

●Our ability weto ~~may~~make bescheduled ~~placed~~payments aton aand ~~competitive~~to ~~disadvantage~~refinance ~~relative~~our toindebtedness ~~other~~depends ~~companies~~on inand is subject to our ~~industry~~financial ~~with~~and ~~less~~operating ~~debt~~performance and orno ~~comparable~~assurance ~~debt~~can onbe ~~more~~given ~~favorable~~that ~~terms~~our business will generate sufficient cash flow to service our debt.

~~Our~~Additionally, our ability to ~~make~~comply ~~scheduled payments~~with onthe financial and toother ~~refinance~~covenants contained in our debt instruments could be affected by, among other things, changes in our results of operations, the incurrence of additional indebtedness, ~~depends~~the onpricing ~~and~~of isour ~~subject~~products, our success at implementing cost reduction initiatives, our ability to successfully implement our ~~financial~~overall ~~and~~business ~~operating~~strategy, ~~performance~~or ~~and~~changes noin ~~assurance~~industry-specific ~~can~~or general beeconomic ~~given~~conditions ~~that~~which are beyond our control. The breach of any of these covenants could result in a default or event of default under our debt instruments, which, if not cured or waived, could result in our being required to repay these borrowings before their due date. If we are forced to refinance these borrowings on less favorable terms or cannot refinance these borrowings, our prospects, business, ~~will~~financial ~~generate~~condition, ~~sufficient~~results of operations and cash ~~flow~~flows could be materially and adversely affected and could cause us to become ~~service~~bankrupt or otherwise insolvent. In addition, these covenants may restrict our ~~debt~~ability to engage in transactions that we believe would otherwise be in the best interests of our business and stockholders.

14Increases in interest rates would increase the cost of servicing our bank debt and could reduce our profitability.

~~Additionally, our ability~~Future toincreases ~~comply with the financial and other covenants contained~~ in ~~our~~interest ~~debt~~rates ~~instruments~~would ~~could~~increase ~~be affected by, among other things, changes in our results of operations,~~ the ~~incurrence~~cost of ~~additional~~servicing ~~indebtedness, the pricing of~~ our ~~products,~~bank ~~our~~debt ~~success at implementing cost reduction initiatives~~(i.e., ~~our~~term ~~ability~~loan toand ~~successfully~~revolving ~~implement~~credit ~~our overall business strategy~~facility), ~~or changes in industry-specific or general economic~~ ~~conditions~~ which ~~are beyond our control. The breach of any of these covenants~~ could ~~result~~materially inreduce ~~a default or event of default under~~ our ~~debt~~ ~~instruments,~~profitability which, if not cured or waived, could result in our being required to repay these borrowings before their due date. If we are forced to refinance these borrowings on less favorable terms or cannot refinance these borrowings, our prospects, business, financial condition, results of operations and cash flows ~~could be materially and adversely affected and could cause us to become bankrupt or otherwise insolvent~~. ~~In addition, these covenants may restrict our ability to engage in transactions that we believe would otherwise be in the best interests of our business and stockholders.~~

~~Increases in interest rates would increase the cost of servicing our term loan and could reduce our profitability.~~ 15

~~As of March 29, 2025, $100.0~~Use of ~~our~~artificial ~~term~~intelligence ~~loan~~could ~~was~~expose ~~subject~~us to aoperational, fixed-rate interest swap but the remaining $313.0 balance of the term loan bears interest at a variable rate. Future increases in interest rates would increase the cost of servicing the portion of the term loan not subject to a swapcompliance, ~~which could materially reduce our profitability~~ and ~~cash~~data-related ~~flows~~risk.

~~Risk~~We currently ~~Factors~~utilize ~~Related~~artificial intelligence-enabled tools primarily to ~~our~~support ~~Capital~~administrative ~~Stock~~and efficiency-focused functions. While these tools are not used to make operational, financial reporting, or customer-related decisions, we are still exposed to certain risks including potential data and security or privacy breaches, reliance on third-party AI service providers, inaccurate or incomplete outputs, and evolving regulatory and legal requirements. These risks could result in negative consequences for the Company such as, but not limited to, increased inefficiencies, increased training and legal costs, and contractual or legal claims.

~~Provisions in our charter documents may~~Risk ~~prevent~~Factors orRelated ~~hinder efforts~~ to ~~acquire~~our aCapital ~~controlling interest in us.~~Stock

Provisions ~~of our certificate~~ ~~of incorporation and bylaws may discourage, delay or prevent a merger, acquisition or other change~~ in ~~control that stockholders may consider favorable, including transactions that might benefit~~ our ~~stockholders~~charter ordocuments ~~in which our stockholders might otherwise receive a premium for their shares. These provisions~~ may ~~also~~ prevent or ~~frustrate~~hinder ~~attempts~~efforts ~~by our stockholders~~ to ~~replace~~acquire ora ~~remove~~controlling ~~our~~interest ~~management~~in us.

~~Pursuant~~Provisions of to our ~~charter~~certificate ~~documents~~of incorporation and bylaws may discourage, ~~our~~ ~~Board~~delay ofor ~~Directors~~prevent ~~(the~~a ~~“Board”)~~merger, ~~consists~~acquisition ofor ~~nine~~other ~~members~~change ~~serving~~in ~~staggered~~control ~~three-year~~that stockholders ~~terms~~may ~~and~~consider ~~divided~~favorable, ~~into~~including ~~three~~transactions ~~classes.~~that might benefit our stockholders or in which our stockholders might otherwise Asreceive a ~~result,~~premium ~~two~~for ~~annual~~their ~~meetings~~shares. ~~are~~These ~~required~~provisions tomay ~~change~~also aprevent ~~majority~~or offrustrate ~~the~~attempts ~~Board~~by ~~members~~our stockholders to replace or remove our management.

~~Our certificate of incorporation~~Pursuant ~~authorizes the issuance of 10,000,000 shares of preferred stock, with such designations, rights and preferences as may be determined from time~~ to ~~time~~our bycharter ~~the Board~~documents, ~~without stockholder approval. We utilized this authorization to issue 4,600,000 shares of 5.00% Series A Mandatory Convertible Preferred Stock in fiscal 2022, which converted into shares of~~ our ~~common stock in October 2024. In the future the~~ Board ~~could authorize the issuance~~ of ~~some~~Directors ~~or all of~~ (the ~~authorized~~“Board”) ~~shares~~consists of ~~preferred~~nine ~~stock~~members ~~with~~serving ~~rights,~~staggered ~~preferences~~three-year terms and ~~privileges~~divided ~~that~~into ~~could~~three ~~have the~~classes. ~~effect~~As ~~of discouraging, delaying or preventing~~ a ~~change in control of us~~result, ortwo ~~that~~annual ~~could~~meetings ~~impede~~are ~~our~~required ~~stockholders’ ability~~ to ~~approve~~ achange transaction they consider in their best interests. Although we have no present intention to issue any additional preferred stock, no assurance can be given that we will not do so in the future. Holders of our common stock do not have preemptive rights to subscribe for a ~~pro~~majority ~~rata portion~~ of ~~preferred stock or any other capital stock that we may issue in~~ the ~~future~~Board members.

WeOur certificate doof ~~not~~incorporation ~~expect~~authorizes the issuance of 10,000,000 shares of preferred stock, with such designations, rights and preferences as may be determined from time to ~~pay~~time ~~cash~~by ~~dividends~~the onBoard, without stockholder approval. We utilized this authorization to issue 4,600,000 shares of 5.00% Series A Mandatory Convertible Preferred Stock in fiscal 2022, which converted into shares of our common stock in October 2024. In the ~~foreseeable~~future the Board could authorize the issuance of some or all of the authorized shares of preferred stock with rights, preferences and privileges that could have the effect of discouraging, delaying or preventing a change in control of us, or that could impede our stockholders’ ability to approve a transaction they consider in their best interests. Although we have no present intention to issue any additional preferred stock, no assurance can be given that we will not do so in the future. Holders of our common stock do not have preemptive rights to subscribe for a pro rata portion of preferred stock or any other capital stock that we may issue in the future.

~~Except for a $2.00 per common~~We ~~share special dividend paid in 2014, we have never paid any cash dividends on our common stock and we~~ do not expect to pay cash dividends on ~~the~~our common stock in the foreseeable future. Instead, we plan to apply earnings and excess cash, if any, to the service of our debt, and the expansion and development of our business (although the Company does have a $100.0 common stock repurchase plan that we have never executed under). Thus, any return on an investment in our common stock would depend solely on an increase, if any, in the market value of the common stock.

~~ITEM~~Except for 1Ba $2.00 ~~UNRESOLVED~~per ~~STAFF~~common ~~COMMENTS~~share special dividend paid in 2014, we have never paid any cash dividends on our common stock and we do not expect to pay cash dividends on the common stock in the foreseeable future. Instead, we plan to apply earnings and excess cash, if any, to the service of our debt, and the expansion and development of our business (although the Company does have a $100.0 common stock repurchase plan that we have never executed under). Thus, any return on an investment in our common stock would depend solely on an increase, if any, in the market value of the common stock.

~~None~~ITEM 1B. UNRESOLVED STAFF COMMENTS

~~ITEM 1C. CYBERSECURITY~~None

~~Cybersecurity~~ITEM ~~Risk~~1C. ~~Management and Governance~~CYBERSECURITY

In response to the increasing threat of continuously evolving cybersecurity risks, we continue to invest in our information technology and operational technology cybersecurity processes. We maintain a data protection and cybersecurity risk management program based upon the National Institute of Standards and Technology (“NIST”) Cybersecurity ~~framework to assess,~~ ~~identify~~Risk ~~and~~Management ~~manage cybersecurity risks. As part of this program, we maintain defensive network perimeter safeguards, internal mitigation~~ and control features, continuous system and network monitoring, and contingency data protection. The Company ensures regular data and system backups through planned schedules. We utilize local backups for quick recovery and off-site, off-line and physical backups to safeguard against disasters. Our cybersecurity program includes steps for assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat including whether the cybersecurity threat is associated with a third-party service provider, implementing cybersecurity testing, detection, response, prevention and mitigation strategies. We also have a notification process for real-time escalation of material cyber incidents by members of our internal cybersecurity team to senior management, including our Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Corporate Controller, General Counsel and the Audit Committee of the Board of Directors. The Company’s information security team also engages third-party security consultants for penetration testing, training and system enhancements. Our Director of Information Technology is responsible for leading global cybersecurity risk reduction efforts and compliance.Governance

15In response to the increasing threat of continuously evolving cybersecurity risks, we continue to invest in our information technology and operational technology cybersecurity processes. We maintain a data protection and cybersecurity risk management program based upon the National Institute of Standards and Technology (“NIST”) Cybersecurity framework to assess, identify and manage cybersecurity risks. As part of this program, we maintain defensive network perimeter safeguards, internal mitigation and control features, continuous system and network monitoring, and contingency data protection. The Company ensures regular data and system backups through planned schedules. We utilize local backups for quick recovery and off-site, off-line and physical backups to safeguard against disasters. Our cybersecurity program includes steps for assessing the severity of a cybersecurity threat, identifying the source of a cybersecurity threat including whether the cybersecurity threat is associated with a third-party service provider, implementing cybersecurity testing, detection, response, prevention and mitigation strategies. We also have a notification process for real-time escalation of material cyber incidents by members of our internal cybersecurity team to senior management, including our Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Corporate Controller, General Counsel and the Audit Committee of the Board of Directors. The Company’s information security team also engages third-party security consultants for penetration testing, training for employees on cybersecurity awareness and system enhancements. Our Director of Information Technology is responsible for leading global cybersecurity risk reduction efforts and compliance. The Director of Information Technology, and his related staff, are highly skilled information technology and information security professionals with varying years of experience. The Director of Information Technology has had various roles related to information technology and information security with the Company since being hired in 2015.

The Audit Committee is responsible for oversight of our risk management with respect to information technology operations and cybersecurity and oversees risk management in the area of data privacy. As part of this process, the Audit Committee oversees the data protection and cybersecurity risk management program, which includes reviewing management’s risk assessments and the steps management has taken to monitor or mitigate our cybersecurity risk exposure. Management regularly provides data protection and cybersecurity reports to the Audit Committee, which include updates on cybersecurity initiatives, cybersecurity metrics and threat landscape.16

~~Despite~~The Audit Committee is responsible for oversight of our ~~efforts~~risk management with respect to information technology operations, ~~cybersecurity~~and cybersecurity and oversees risk management in the area of data privacy, wewhich ~~have~~is ~~been,~~included ~~and~~in ~~may~~our ~~continue~~overall toenterprise berisk management. As part of this process, ~~impacted~~the byAudit ~~breaches~~Committee inoversees the data ~~security~~ protection and ~~lapses~~cybersecurity inrisk ~~data~~management ~~privacy~~program, which ~~occur~~includes ~~from~~reviewing management’s ~~time~~risk toassessments ~~time.~~and ~~During~~the ~~fiscal~~steps ~~year~~management ~~2025,~~has ~~the~~taken ~~Company~~to ~~did~~monitor ~~not~~or ~~experience~~mitigate ~~any~~our cybersecurity ~~incidents~~ ~~that~~risk ~~have~~exposure. ~~materially~~On ~~affected~~a orquarterly basis, ~~are~~management ~~reasonably~~provides ~~likely~~data toprotection ~~materially~~and ~~affect~~cybersecurity reports to the ~~Company~~Audit Committee, ~~including~~which ~~its~~include ~~business~~updates ~~strategy,~~on ~~results of~~cybersecurity ~~operations~~initiatives, cybersecurity ~~cash~~metrics ~~flow~~and orthreat ~~financial condition~~landscape.

~~ITEM~~Despite our 2efforts with respect to information technology operations, cybersecurity and data privacy, we have been, and may continue to be, impacted by breaches in data security and lapses in data privacy, which occur from time to time. ~~PROPERTIES~~During fiscal year 2026, the Company did not experience any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, cash flow or financial condition.

~~Our principal executive office~~ITEM ~~is located at One Tribology Center, Oxford, Connecticut, which we own~~2. ~~Our~~PROPERTIES ~~Dodge Industrial subsidiary has office space in Simpsonville, South Carolina, which we lease.~~

~~We own or lease 38 manufacturing~~Our ~~facilities~~principal inexecutive ~~five~~office ~~countries.~~is 26located ofat ~~those~~One ~~manufacturing~~Tribology ~~facilities~~Center, ~~are~~Oxford, ~~located~~Connecticut, inwhich ~~the~~we Uown.~~S.,~~ ~~one~~Our isDodge ~~located~~Industrial insubsidiary ~~Poland,~~has office ~~eight~~space ~~are located~~ in ~~Mexico~~Simpsonville, ~~two~~South ~~are~~Carolina, ~~located~~which inwe ~~Switzerland and one is located in China~~lease.

We own or lease ~~ten~~44 ~~distribution centers~~manufacturing facilities in ~~the~~five ~~United~~countries. ~~States,~~32 ~~Canada,~~of ~~France,~~those ~~Mexico,~~manufacturing ~~Germany,~~facilities ~~India,~~are ~~the~~located ~~United~~in ~~Kingdom~~the ~~and Australia~~U.S., Weone ~~also~~is ~~utilize~~located in ~~third~~Poland, ~~party~~eight ~~logistics’ firms~~are located ~~strategically~~in ~~around~~Mexico, ~~the~~two ~~world~~are tolocated ~~supplement~~in ~~distribution~~Switzerland ofand ~~our~~one ~~products~~is located in India.

We own ~~believe~~or ~~that~~lease asten distribution centers in the ~~term of~~United ~~each~~States, ofCanada, ~~our~~France, ~~leased~~Mexico, ~~facilities~~Germany, ~~expires~~India, wethe ~~will~~United beKingdom ~~able~~and toAustralia. We ~~either~~also ~~secure~~utilize athird ~~renewal~~party orlogistics’ ~~enter~~firms ~~into~~located astrategically ~~lease~~around ~~for~~the anworld ~~alternate~~to ~~location~~supplement ~~on market~~distribution ~~terms~~of our products.

We believe that ~~our~~as ~~existing facilities~~the ~~and~~term ~~equipment~~of ~~are~~each ~~generally~~of inour ~~good~~leased ~~condition,~~facilities ~~are~~expires ~~well~~we ~~maintained~~will ~~and~~be ~~adequate~~able to ~~carry~~either onsecure ~~our~~a ~~current~~renewal ~~operations.~~or Weenter ~~also believe~~into ~~that~~a ~~our~~lease ~~existing~~for an ~~manufacturing~~alternate ~~facilities~~location ~~have~~on ~~sufficient~~market ~~capacity to meet increased customer demand~~terms.

~~ITEM~~We believe 3that our existing facilities and equipment are generally in good condition, are well maintained and adequate to carry on our current operations. ~~LEGAL~~We ~~PROCEEDINGS~~also believe that our existing manufacturing facilities have sufficient capacity to meet increased customer demand.

~~In 2022 and 2023, the Company~~ITEM ~~received civil investigative demands from the United States Department of Justice pursuant to the False Claims Act, 31 U~~3.~~S.C.~~ §LEGAL ~~3733 (the~~PROCEEDINGS “FCA”). The investigation concerns allegations that the Company submitted false claims in connection with (i) certifying that the Company’s employees were eligible for unemployment insurance benefits and pandemic relief and worked reduced hours and (ii) received grant proceeds in violation of the FCA. The Company is cooperating with the investigation. The investigation is ongoing and it is not possible to determine whether the investigation will have a material adverse effect, if any, on the Company.

~~Besides~~In 2022 and 2023, the ~~matter~~Company ~~described in~~received ~~the~~civil ~~previous~~investigative ~~paragraph,~~demands from ~~time~~the United States Department of Justice pursuant to ~~time~~the weFalse ~~are~~Claims Act, ~~involved~~31 inU.S.C. ~~litigation~~§ 3733 (the “FCA”). The investigation concerns allegations that ~~arises~~the Company submitted false claims in connection with (i) certifying that the ~~ordinary~~Company’s ~~course~~employees ofwere ~~business,~~eligible ~~but~~for weunemployment doinsurance ~~not~~benefits and pandemic relief ~~believe~~and ~~that~~worked ~~any~~reduced ~~such~~hours ~~litigation~~and (ii) received grant proceeds in ~~which~~violation weof ~~are~~the ~~currently~~FCA. ~~involved,~~The ~~either~~Company ~~individually~~is orcooperating inwith the ~~aggregate,~~investigation. The investigation is ~~likely~~ongoing toand ~~have~~we acurrently ~~material adverse~~do ~~effect~~not onexpect ~~our~~the ~~business,~~investigation to ~~financial~~have ~~condition,~~a ~~operating~~material ~~results,~~adverse ~~cash~~effect ~~flow~~on orthe ~~prospects~~Company.

~~ITEM~~Besides the 4.matter ~~MINE~~described ~~SAFETY~~in ~~DISCLOSURES~~the previous paragraph, from time to time we are involved in litigation that arises in the ordinary course of business, but we do not believe that any such litigation in which we are currently involved, either individually or in the aggregate, is likely to have a material adverse effect on our business, financial condition, operating results, cash flow or prospects.

~~Not applicable~~ITEM 4. MINE SAFETY DISCLOSURES

16Not applicable.

~~PART II~~17

~~ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES~~PART II

~~Price~~ITEM 5. ~~Range~~MARKET ofFOR ~~Our~~REGISTRANT’S ~~Common~~COMMON ~~Stock~~EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

~~Our common stock is quoted on the New York Stock~~Price ~~Exchange~~Range ~~under the symbol “RBC.” As~~ of ~~May~~Our 9,Common ~~2025, there was one holder of record of our common stock.~~Stock

~~The~~Our common ~~following~~stock ~~table~~is ~~shows~~ quoted on the ~~high~~New ~~and~~York ~~low~~Stock ~~sales~~Exchange ~~prices~~under the symbol “RBC.” As of ~~our~~May ~~common~~8, ~~stock~~2026, ~~during~~there ~~the~~was ~~periods~~one ~~indicated:~~holder of record of our common stock.

	Fiscal 2025				Fiscal 2024
	High		Low		High		Low
First Quarter	$	299.25	$	241.43	$	236.95	$	195.18
Second Quarter		309.01		260.53		253.00		203.65
Third Quarter		346.78		272.50		288.16		214.14
Fourth Quarter		372.83		290.56		285.79		240.36

The following table shows the high and low sales prices of our common stock during the periods indicated:

The last reported sale price of our common stock on the New York Stock Exchange on May 9, 2025 was $349.25 per share.

	Fiscal 2026				Fiscal 2025
	High		Low		High		Low
First Quarter	$	393.51	$	297.28	$	299.25	$	241.43
Second Quarter		416.33		369.88		309.01		260.53
Third Quarter		465.80		364.50		346.78		272.50
Fourth Quarter		589.16		447.35		372.83		290.56

~~Dividends~~The last reported sale price of our common stock on the New York Stock Exchange on May 8, 2026 was $605.99 per share.

Except for a $2.00 per common share special dividend paid in 2014, we have never paid any cash dividends on our common stock and we do not expect to pay cash dividends on the common stock in the foreseeable future.Dividends

~~Issuer~~Except for ~~Purchases~~a of$2.00 ~~Equity~~per ~~Securities~~common share special dividend paid in 2014, we have never paid any cash dividends on our common stock and we do not expect to pay cash dividends on the common stock in the foreseeable future.

~~Our repurchases of shares~~Issuer ofPurchases ~~our common stock during the fourth quarter~~ of ~~fiscal~~Equity ~~2025~~Securities ~~are as follows:~~

Period	Total number of shares purchased(1)		Average price paid per share(2)		Number of shares purchased as part of the publicly announced program(3)		Approximate dollar value of shares still available to be purchased under the program (in millions)(3)
12/29/2024 – 01/25/2025		16	$	297.81		—	$	100.0
01/26/2025 – 02/22/2025		2,226		361.38		—		100.0
02/23/2025 – 03/29/2025		180		353.20		—	$	100.0
Total		2,422	$	360.35		—

Our repurchases of shares of our common stock during the fourth quarter of fiscal 2026 are as follows:

(1) Consists of shares of RBC restricted stock repurchased from employees upon the vesting of those shares in order to fund the employees’ tax withholding obligation. These repurchased shares were never in the open market.

Period	Total number of shares purchased⁽¹⁾		Average price paid per share⁽²⁾		Number of shares purchased as part of the publicly announced program⁽³⁾		Approximate dollar value of shares still available to be purchased under the program (in millions)⁽³⁾
12/28/2025 – 01/24/2026		16	$	458.79		—	$	100.0
01/25/2026 – 02/21/2026		1,744		544.02		—		100.0
02/22/2026 – 03/28/2026		486		560.00		—	$	100.0
Total		2,246	$	546.87		—

(21) ~~The~~Consists ~~closing~~of ~~price~~shares ~~for~~of ~~our~~RBC restricted stock onrepurchased from employees upon the ~~trading~~vesting ~~day~~of ~~immediately~~those ~~preceding~~shares in order to fund the ~~restricted~~employees’ ~~stock~~tax ~~vesting~~withholding ~~date~~obligation. These repurchased shares were never in the open market.

(32) InThe ~~2019,~~closing ~~our~~price ~~Board~~for ~~of Directors authorized us to repurchase up to $100.0 of~~ our ~~common~~ stock ~~from~~on ~~time to time in~~ the ~~open~~trading ~~market~~day inimmediately ~~compliance~~preceding ~~with~~the ~~SEC~~restricted ~~Rule~~stock ~~10b-18~~vesting depending on market conditions, alternative uses of capital, and other relevant factors. Purchases may be commenced, suspended, or discontinued at any time without prior notice. The repurchase plan does not have an expiration date. ~~As of March 29, 2025, the Company has not repurchased any shares pursuant to this program.~~

1718

~~Recent~~(3) ~~Sales~~In 2019, our Board of ~~Unregistered~~Directors ~~Securities~~authorized us to repurchase up to $100.0 of our common stock from time to time in the open market in compliance with SEC Rule 10b-18 depending on market conditions, alternative uses of capital, and other relevant factors. Purchases may be commenced, suspended, or discontinued at any time without prior notice. The repurchase plan does not have an expiration date. As of March 28, 2026, the Company has not repurchased any shares pursuant to this program.

~~During the fourth quarter~~Recent Sales of ~~fiscal~~Unregistered ~~2025, we did not issue any securities that were not registered under the~~ Securities ~~Act of 1933.~~

~~Equity~~During the ~~Compensation~~fourth ~~Plans~~quarter of fiscal 2026, we did not issue any securities that were not registered under the Securities Act of 1933.

~~Information regarding equity~~Performance ~~compensation plans required to be disclosed pursuant to this Item is included in Part II, Item 8, Note 16 of this Annual Report on Form 10-K.~~Graph

~~Performance~~The following ~~Graph~~graph shows the total return to our stockholders compared to the Russell 3000 Index and the S&P 400 Industrials (Sector) (TR) over the period from April 3, 2021 to March 28, 2026. Because of the diversity of our markets and products, we do not believe that a combination of peer issuers can be selected on an industry or line-of-business basis to provide a meaningful basis for comparing shareholder return. Accordingly, the Russell 3000 Index, which we are a part of, is included in the graph as permitted by applicable regulations. Each line on the graph assumes that $100 was invested in our common stock or in the respective indices on April 3, 2021 based on the closing price on that date. The graph then presents the value of these investments, assuming reinvestment of dividends, through the close of trading on March 28, 2026.

The following graph shows the total return to our stockholders compared to the Russell 3000 Index and the S&P 400 Industrials (Sector) (TR) over the period from March 28, 2020 to March 29, 2025. Because of the diversity of our markets and products, we do not believe that a combination of peer issuers can be selected on an industry or line-of-business basis to provide a meaningful basis for comparing shareholder return. Accordingly, the Russell 3000 Index, which is comprised of issuers with generally similar market capitalizations to that of the Company, is included in the graph as permitted by applicable regulations. Each line on the graph assumes that $100 was invested in our common stock or in the respective indices on March 28, 2020 based on the closing price on that date. The graph then presents the value of these investments, assuming reinvestment of dividends, through the close of trading on March 29, 2025.

	April 3, 2021		April 2, 2022		April 1, 2023		March 30, 2024		March 29, 2025		March 28, 2026
RBC Bearings Incorporated	$	100.00	$	98.69	$	117.44	$	136.41	$	164.27	$	268.53
Russell 3000 Index		100.00		110.99		101.03		130.62		139.42		161.35
S&P 400 Industrials (Sector) (TR)		100.00		103.02		107.16		145.05		134.40		172.51

	March 28, 2020		April 3, 2021		April 2, 2022		April 1, 2023		March 30, 2024		March 29, 2025
RBC Bearings Incorporated	$	100.00	$	180.13	$	177.77	$	211.55	$	245.71	$	295.89
Russell 3000 Index		100.00		167.27		185.66		168.99		218.50		233.21
S&P 400 Industrials (Sector) (TR)		100.00		195.70		201.62		209.71		283.87		263.02

The cumulative total return shown on the stock performance graph indicates historical results only and may not be indicative of future results.

~~The cumulative total return~~ITEM ~~shown on the stock performance graph indicates historical results only and may not be indicative of future results~~6. [RESERVED]

18Not applicable.

~~ITEM 6. [RESERVED]~~19

~~Not applicable~~ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

~~ITEM~~The financial 7and business analysis below provides information that we believe is relevant to an assessment and understanding of our consolidated financial position, results of operations and cash flows. ~~MANAGEMENT’S~~This ~~DISCUSSION~~financial ~~AND~~and ~~ANALYSIS~~business OFanalysis ~~FINANCIAL~~should ~~CONDITION~~be ~~AND~~read ~~RESULTS~~in OFconjunction ~~OPERATIONS~~with the consolidated financial statements and related notes. All references to “Notes” in this Item 7 refer to the “Notes to Consolidated Financial Statements” included in Item 8 of this Annual Report on Form 10-K.

The following ~~financial~~discussion ~~and~~contains ~~business analysis~~statements ~~below~~reflecting ~~provides~~our ~~information~~views ~~that~~about weour ~~believe~~future isperformance ~~relevant~~that toconstitute an“forward-looking ~~assessment~~statements” within ~~and~~the ~~understanding~~meaning of ~~our~~the ~~consolidated~~safe ~~financial~~harbor ~~position, results~~provisions of ~~operations~~the ~~and cash flows~~U.S. ~~This~~Private ~~financial~~Securities ~~and~~Litigation ~~business~~Reform ~~analysis~~Act ~~should~~of be1995. ~~read~~See ~~in conjunction with~~ the ~~consolidated~~information ~~financial~~provided ~~statements and related notes. All references to “Notes”~~ in ~~this~~Part I, Item 71A. ~~refer to the~~ “~~Notes~~Risk ~~to Consolidated Financial Statements~~Factors” ~~included in Item 8~~ of this Annual Report on Form 10-K under the heading “Cautionary Statement as to Forward-Looking Information.”

The following discussion contains statements reflecting our views about our future performance that constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. See the information provided in Part I, Item 1A. “Risk Factors” of this Annual Report on Form 10-K under the heading “Cautionary Statement as to Forward-Looking Information.”General

~~General~~We are a well-known international manufacturer of highly engineered precision bearings, components and essential systems for the Aerospace & Defense and Industrial markets. Our precision solutions are integral to the manufacture and operation of most machines and mechanical systems, reduce wear to moving parts, facilitate proper power transmission, and reduce damage and energy loss caused by friction. While we manufacture products in all major bearing categories, we focus primarily on the higher end of the bearing market where we believe our value-added manufacturing and engineering capabilities enable us to differentiate ourselves from our competitors and enhance profitability. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. With 65 facilities in 11 countries, of which 44 are manufacturing facilities, we have been able to significantly broaden our end markets, products, customer base and geographic reach. We have a fiscal year consisting of 52 or 53 weeks, ending on the Saturday closest to March 31. Based on this policy, fiscal 2026 had 52 weeks and fiscal 2025 had 52 weeks.

We ~~are~~currently aoperate ~~well-known~~under ~~international~~two ~~manufacturer~~reportable ofbusiness ~~highly~~segments ~~engineered~~– ~~precision~~Aerospace ~~bearings,~~& ~~components~~Defense and essential systems for the aerospace, defense and industrial industries. Our precision solutions are integral to the manufacture and operation of most machines and mechanical systems, reduce wear to moving parts, facilitate proper power transmission, and reduce damage and energy loss caused by friction. While we manufacture products in all major bearing categories, we focus primarily on the higher end of the bearing market where we believe our value-added manufacturing and engineering capabilities enable us to differentiate ourselves from our competitors and enhance profitability. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. With 54 facilities in 11 countries, of which 38 are manufacturing facilities, we have been able to significantly broaden our end markets, products, customer base and geographic reach. We have a fiscal year consisting of 52 or 53 weeks, ending on the Saturday closest to March 31. Based on this policy, fiscal 2025 had 52 weeks and fiscal 2024 had 52 weeks.Industrial:

We● ~~currently~~Aerospace ~~operate~~& ~~under~~Defense. ~~two~~This ~~reportable~~segment ~~business segments~~represents –the ~~Aerospace/Defense~~end markets for the Company’s highly engineered bearings and ~~Industrial:~~precision components used in commercial aerospace, defense aerospace, defense marine, defense ground vehicles, missiles and guided munitions, and space and satellite applications.

● ~~Aerospace/Defense~~Industrial. This segment represents the end markets for the Company’s highly engineered bearings, gearing and precision components used in ~~commercial~~various ~~aerospace,~~industrial ~~defense~~applications ~~aerospace~~including: construction, ~~defense~~mining, ~~marine~~forestry, ~~defense~~energy, ~~ground~~agricultural ~~vehicles~~and other machinery; aggregate and cement handling; food and beverage manufacturing; grain, ~~missiles~~and agricultural product handling; metals and ~~guided~~mining ~~munitions~~material handling; chemicals, oil and ~~space~~gas production; warehousing and ~~satellite~~logistics; ~~applications~~manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation.

●We use ~~Industrial.~~gross ~~This~~margin ~~segment~~as ~~represents~~ the ~~end~~primary ~~markets~~measurement ~~for~~to assess the ~~Company’s~~financial ~~highly~~performance ~~engineered~~of ~~bearings,~~each ~~gearing~~reportable ~~and~~segment. ~~precision~~End ~~components~~market ~~used in various industrial applications including: construction, mining, forestry, energy, agricultural~~ and ~~other~~channel ~~machinery;~~sales within ~~aggregate~~our ~~and~~segments ~~cement~~are ~~handling;~~based ~~food~~on ~~and~~internal ~~beverage~~definitions ~~manufacturing; grain,~~ and ~~agricultural~~metrics ~~product~~considered ~~handling;~~by ~~metals~~management and ~~mining~~are ~~material~~periodically ~~handling;~~reviewed ~~chemicals, oil~~ and ~~gas production; warehousing and logistics; manufacturing automation and semiconductor equipment; power generation; waste and water management; rail and transportation~~updated prospectively.

~~We use gross margin as the primary measurement to~~The ~~assess~~markets ~~the~~for ~~financial~~our ~~performance~~products ofare ~~each~~cyclical, ~~reportable segment. End market~~ and ~~channel~~we ~~sales~~have ~~within~~endeavored ~~our~~to ~~segments~~mitigate ~~are~~this ~~based~~cyclicality onby ~~internal~~entering ~~definitions and~~into ~~metrics~~single ~~considered by management~~ and ~~are~~sole-source relationships ~~periodically reviewed~~ and ~~updated~~long-term ~~prospectively.~~purchase ~~For fiscal year 2024~~agreements, wethrough ~~estimate~~diversification ~~approximately $6.9~~across ofmultiple ~~sales~~market ~~classified~~segments aswithin ~~industrial~~the ~~distribution~~Aerospace ~~for~~& Defense ~~fiscal~~and ~~year~~Industrial ~~2024~~segments, ~~would~~by ~~now~~increasing besales ~~classified~~to asthe ~~industrial~~aftermarket, ~~OEM.~~and ~~Fiscal~~by ~~year~~focusing ~~2024~~on ~~was not~~developing ~~recast~~highly ~~to reflect this change~~customized solutions.

~~The markets for~~ Currently, our ~~products are~~strategy ~~cyclical,~~is ~~and~~built wearound ~~have~~maintaining ~~endeavored~~our torole ~~mitigate~~as ~~this~~a ~~cyclicality~~leading bymanufacturer ~~entering~~of ~~into~~highly ~~single~~engineered ~~and~~bearings ~~sole-source relationships~~ and ~~long-term purchase~~precision ~~agreements,~~components through ~~diversification across multiple market segments within the Aerospace/Defense and Industrial segments, by~~ ~~increasing sales to~~ the ~~aftermarket,~~following ~~and by focusing on developing highly customized solutions.~~efforts:

~~Currently,~~● Developing innovative solutions. By leveraging our ~~strategy~~design ~~is built~~and ~~around~~manufacturing ~~maintaining~~expertise and our ~~role~~extensive ascustomer arelationships, ~~leading~~we ~~manufacturer~~continue ofto ~~highly~~develop ~~engineered~~new ~~bearings~~products ~~and~~for ~~precision~~markets ~~components~~in ~~through~~which ~~the~~there ~~following efforts:~~are substantial growth opportunities.

● ~~Developing~~Expanding ~~innovative~~customer ~~solutions.~~base Byand ~~leveraging~~penetrating ~~our~~end ~~design~~markets. ~~and~~We ~~manufacturing~~continually ~~expertise~~seek ~~and~~opportunities ~~our~~to ~~extensive~~access ~~customer~~new ~~relationships~~customers, wegeographic ~~continue~~locations toand ~~develop~~bearing ~~new~~platforms ~~products~~with ~~for~~existing ~~markets~~products inor ~~which~~profitable ~~there~~new ~~are~~product ~~substantial growth~~ opportunities.

● Expanding customer base and penetrating end markets. We continually seek opportunities to access new customers, geographic locations and bearing platforms with existing products or profitable new product opportunities.20

●

Increasing aftermarket sales. We believe that increasing our aftermarket sales of replacement parts will further enhance the continuity and predictability of our revenues and enhance our profitability. Such sales include sales to third party distributors, and sales to OEMs for replacement products and aftermarket services. We can further increase the percentage of our revenues derived from the replacement market by continuing to implement several initiatives.

19● Pursuing selective acquisitions. The acquisition of businesses that complement or expand our operations has been and continues to be an important element of our business strategy. We believe that there will continue to be consolidation within the industry that may present us with acquisition opportunities.

●We have ~~Pursuing~~demonstrated ~~selective~~expertise ~~acquisitions.~~in ~~The~~acquiring ~~acquisition~~and ofintegrating ~~businesses~~bearing and precision engineered component manufacturers that ~~complement~~have complementary products or ~~expand~~distribution ~~our~~channels ~~operations~~and ~~has~~have ~~been~~provided significant margin enhancement. We have consistently increased the profitability of acquired businesses through a process of methods and ~~continues~~systems toimprovement becoupled anwith ~~important~~the ~~element~~introduction of ~~our~~complementary ~~business~~and ~~strategy~~proprietary new products. WeSince ~~believe~~1992 ~~that~~we ~~there~~have ~~will~~completed ~~continue~~30 toacquisitions, beincluding ~~consolidation~~VACCO, ~~within~~which ~~the~~we ~~industry~~acquired ~~that~~on ~~may~~July ~~present~~18, us2025. ~~with~~These ~~acquisition~~acquisitions ~~opportunities~~have broadened our end markets, products, customer base and geographic reach.

We have demonstrated expertise in acquiring and integrating bearing and precision engineered component manufacturers that have complementary products or distribution channels and have provided significant margin enhancement. We have consistently increased the profitability of acquired businesses through a process of methods and systems improvement coupled with the introduction of complementary and proprietary new products. Since 1992 we have completed 29 acquisitions, which have broadened our end markets, products, customer base and geographic reach. Outlook

~~Outlook~~For the fiscal year ended March 28, 2026, 57.9% of our net sales were attributable to the Industrial segment while the Aerospace & Defense segment contributed 42.1% of our net sales. Our net sales increased 14.3% year over year due to sales increases in both the Aerospace & Defense and Industrial segments. VACCO, which was acquired on July 18, 2025, accounted for $83.9 of net sales in fiscal 2026. VACCO is part of our Aerospace & Defense segment.

~~For~~Aerospace & ~~the~~Defense ~~fiscal~~segment sales increased 32.9% year ~~ended March~~over ~~29,~~year. ~~2025,~~Commercial 63aerospace increased 17.8%, ofdue ~~our~~to ~~net~~the increased build rates from large OEMs. defense sales, ~~were~~which ~~attributable~~represented toapproximately ~~the~~40.0% ~~Industrial~~of segment ~~while~~sales during the ~~Aerospace/Defense~~year, ~~segment~~were ~~contributed~~up 3664.25% offor ~~our~~the year. Excluding net sales. ~~Our~~from ~~net~~VACCO, defense sales ~~increased~~were 4up 22.9% year over year. ~~due~~Our tobacklog anin ~~increase~~this ofsegment ~~14.1%~~is insignificant ~~Aerospace~~ and ~~Defense segment~~deliveries ~~sales~~are ~~and~~expected to acontinue ~~0.2%~~to ~~increase~~grow in ~~Industrial~~the ~~segment~~coming ~~sales~~years.

~~Aerospace and Defense segment~~Industrial segment sales increased 143.18% year over year., ~~Commercial~~led ~~aerospace~~by ~~increased~~a 134.38%, ~~demonstrating~~increase ~~the~~in ~~continued~~distribution ~~recovery~~ and ~~early~~aftermarket ~~stages of a growth cycle. Defense~~ sales~~, which represent approximately 32~~.4% ofSales ~~segment~~to ~~sales~~OEMs ~~during the year,~~ were up 151.95% year ~~for~~over ~~the~~ year., ~~Our~~primarily ~~backlog in~~driven ~~this~~by ~~market~~aggregate is& ~~significant~~cement, ~~and~~warehousing, ~~deliveries~~grain ~~are~~and ~~expected~~food to& ~~continue to grow in the coming years~~beverage.

~~Industrial~~Of our ~~segment~~net sales ~~increase 0~~for the fourth quarter of fiscal 2026, 57.21% ~~year~~was ~~over~~attributable ~~year,~~to ~~led~~the byIndustrial asegment 1compared to 42.49% ~~increase~~for the Aerospace & Defense segment. Approximately $200.0 of Industrial segment sales in the fourth quarter of fiscal 2026 were to distribution and aftermarket ~~sales~~compared to approximately $191.5 ~~Sales~~in the prior year while approximately $95.9 were made directly to OEMs in ~~were~~the ~~down~~fourth 2quarter of fiscal 2026 compared to approximately $88.1%9 in the prior year. ~~over~~Net sales in the Aerospace & Defense segment increased $64.8, or 41.2%, for the fourth quarter of fiscal 2026 compared to the same period last fiscal year. Excluding net sales from VACCO, net sales increased in this segment by 22.8%. Commercial aerospace net sales, which consisted of $106.6 of OEM and ~~primarily~~$22.9 of distribution and aftermarket, increased by 18.5% compared to the fourth quarter of fiscal 2025 when OEM net sales were $85.9 and distribution and aftermarket net sales were $23.3. This was driven by ~~softness~~increased build rates in the ~~energy~~OEM market and aftermarket ~~semicon~~demand remained strong. Our fiscal 2026 fourth quarter defense markets’ net sales, which consisted of $74.0 of OEM and $18.6 of distribution and aftermarket, increased 92.5% compared to the fourth quarter of fiscal 2025 when OEM net sales were $38.1 and distribution and aftermarket net sales were $10.0. Excluding net sales from VACCO, defense net sales were up 35.0% compared to the same period in the prior year.

~~For the fourth quarter~~The ofCompany ~~fiscal~~forecasts ~~2025, 64.1% of our~~ net sales ~~was attributable~~ to ~~the~~be ~~Industrial segment compared to~~ approximately 35$500.9%0 ~~for~~to ~~the Aerospace/Defense segment. Approximately~~ $~~191~~510.50 ~~of Industrial segment sales~~ in the ~~fourth~~first quarter of fiscal ~~2025~~2027, ~~were to distribution and aftermarket~~ compared to ~~approximately~~ $~~186~~436.80 in the ~~prior year while approximately $88.9 were made directly to OEMs~~ infirst ~~the fourth~~ quarter of fiscal ~~2025~~2026, ~~compared~~which torepresents ~~approximately~~a ~~$84.5~~growth inrate ~~the~~of ~~prior year. Net sales in the Aerospace/Defense segment increased $~~14.9,7% orto 1017.60%,. ~~for~~Excluding ~~the~~$28.0 ~~fourth quarter~~ of ~~fiscal~~expected ~~2025~~net ~~compared~~sales tofrom ~~the same period last fiscal year. Commercial aerospace~~VACCO, net sales, ~~which~~are ~~consisted~~expected ofto ~~$85.9~~grow ~~of OEM and $23~~8.3% ofto ~~distribution and aftermarket, increased by 11~~10.6%. ~~compared~~Adjusted togross ~~the~~margin ~~fourth~~is ~~quarter~~expected ~~of fiscal~~to ~~2024~~be ~~when~~in ~~OEM~~the ~~net~~range ~~sales~~of ~~were $78~~45.225% ~~and~~to ~~distribution~~45.5% and ~~aftermarket net sales were $19.7. This was driven by a continuing~~SG&A ~~recovery~~ as ~~build~~a ~~rates~~percentage ~~and~~of ~~orders grew in the OEM market and aftermarket demand remained strong. Our defense markets~~ net sales~~, which~~ ~~consisted~~is ofexpected ~~$38.1~~to ofbe ~~OEM~~in ~~and~~the ~~$10.0~~range of ~~distribution and aftermarket, increased 8~~16.250% ~~compared~~ to ~~the fourth quarter of fiscal 2024 when OEM net sales were $34~~16.~~2 and distribution and aftermarket net sales were $10~~75%.3.

~~The~~Our backlog ~~Company~~as ~~forecasts~~of ~~net sales~~March to28, be2026 ~~approximately~~was $~~424~~2.03 tobillion, which included $~~434.~~0.6 inbillion ~~the~~of ~~first~~VACCO ~~quarter~~backlog and $1.1 billion of ~~fiscal~~marine ~~2026,~~related backlog, compared to ~~$406.3~~a intotal ~~the~~of ~~first~~$0.9 ~~quarter~~billion as of ~~fiscal~~March ~~2025~~29, ~~which~~ ~~represents~~2025. aThis increase reflects continued growth, ~~rate~~most ofnotably ~~4.4%~~in toour 6commercial aerospace and marine defense end markets.~~8%.~~

~~Our~~We experienced ~~backlog~~solid operating cash flow generation during fiscal 2026 (as ofdiscussed ~~March~~in ~~29, 2025~~the ~~was~~“Liquidity ~~$940~~and Capital Resources” section below).7 ~~compared~~We believe that operating cash flows and available credit under our revolving bank credit facilities will provide adequate resources to ~~$821~~fund internal growth initiatives for the foreseeable future, including at least the next 12 months.5 asAs of March 3028, ~~2024.~~2026, we ~~This~~had ~~increase~~cash ~~reflects~~of ~~continued growth~~$57.3, ~~most~~of ~~notably~~which, in$33.1 ~~our~~was ~~commercial~~cash ~~aerospace and~~held ~~marine~~by ~~defense~~our ~~end~~foreign ~~markets~~operations.

~~We experienced solid operating cash flow~~Sources generation during fiscal 2025 (as discussed in the “Liquidity and Capital Resources” section below). We believe that operating cash flows and available credit under our revolving bank credit facilities will provide adequate resources to fund internal growth initiatives for the foreseeable future, including at least the next 12 months. As of ~~March 29, 2025, we had cash of $36.8, of which, $23.7 was cash held by our foreign operations.~~ Revenue

~~Sources~~A contract with a customer exists when there is commitment and approval from both parties involved, the rights of ~~Revenue~~the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (“LTAs”) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes.

A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. Long-term agreements (“LTAs”) are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes.21

20Approximately 95% of the Company’s revenue was generated from the sale of products to customers in the Aerospace & Defense and Industrial markets for each of the years ended March 28, 2026 and March 29, 2025. The remaining 5% of the Company’s revenue for each of the last two fiscal years was derived from services performed for customers, which included repair and refurbishment work performed on customer-controlled assets as well as design and test work.

~~Approximately 98% of the Company’s~~Refer ~~revenue was generated from the sale of products~~ to ~~customers~~Note in2 ~~the Industrial and Aerospace/Defense markets~~ for ~~each~~further ofdiscussion ~~the~~regarding ~~years ended March 29, 2025 and March 30, 2024. The remaining 2% of~~ the Company’s revenue for each of the last two fiscal years was derived from services performed for customers, which included repair and refurbishment work performed on customer-controlled assets as well as design and test workpolicy.

~~Refer to Note 2 for further~~Cost ~~discussion~~of ~~regarding the Company’s revenue policy.~~Sales

Cost of sales includes employee compensation and benefits, raw materials, outside processing, depreciation of ~~Sales~~manufacturing machinery and equipment, supplies and manufacturing overhead.

~~Cost~~Less than half of ~~sales~~our ~~includes~~factory ~~employee compensation~~costs, ~~and~~depending ~~benefits~~on product mix, are attributable to raw materials, purchased components and outside processing. When we experience raw material inflation, ~~depreciation~~we ofattempt ~~manufacturing~~to ~~machinery~~offset these cost increases by changing our buying patterns, expanding our vendor network and ~~equipment~~passing through price increases when possible. Although we experienced cost inflation on raw material, ~~supplies~~labor and ~~manufacturing~~ overhead for this fiscal year, we were able to mitigate it through pricing, insourcing and strategic sourcing efforts.

~~Less~~We monitor ~~than~~gross ~~half~~margin performance through a process of ~~our~~monthly ~~factory costs,~~operation ~~depending~~reviews onwith ~~product~~all ~~mix,~~our ~~are~~divisions. ~~attributable~~We develop new products to ~~raw~~target certain ~~materials,~~markets ~~purchased~~allied ~~components~~to ~~and~~our ~~outside~~strategies ~~processing.~~by ~~When~~first weunderstanding ~~experience~~volume ~~raw material~~levels ~~inflation,~~and weproduct ~~attempt~~pricing toand ~~offset~~then ~~these~~constructing ~~cost~~manufacturing strategies ~~increases~~to byachieve ~~changing~~defined ~~our~~margin ~~buying~~objectives. ~~patterns,~~We ~~expanding~~only ~~our~~pursue ~~vendor~~product ~~network~~lines ~~and~~where ~~passing through~~we ~~price~~believe ~~increases~~that ~~when~~the ~~possible.~~developed ~~Although~~manufacturing weprocess will ~~experienced~~yield ~~cost~~the ~~inflation~~targeted onmargins. ~~raw~~Management ~~material,~~monitors ~~labor~~gross ~~and~~margins ~~overhead~~of ~~for~~all ~~this~~product ~~fiscal~~lines ~~year, we~~on ~~were~~a ~~able~~monthly basis to ~~mitigate~~determine itwhich ~~through~~manufacturing processes ~~pricing~~or ~~and~~prices ~~strategic~~should ~~sourcing~~be ~~efforts~~adjusted.

~~We monitor gross margin performance~~Fiscal ~~through~~2026 aCompared ~~process of monthly operation reviews with all our divisions. We develop new products~~ to ~~target~~Fiscal certain markets allied to our strategies by first understanding volume levels and product pricing and then constructing manufacturing strategies to achieve defined margin objectives. We only pursue product lines where we believe that the developed manufacturing process will yield the targeted margins. Management monitors gross margins of all product lines on a monthly basis to determine which manufacturing processes or prices should be adjusted.2025

~~Fiscal~~Results of ~~2025 Compared to Fiscal 2024~~Operations

~~Results~~(amounts in ofmillions, ~~Operations~~except share and per share data)

(amounts in millions, except share and per share data)

	FY26		FY25		$ Change		% Change
Net sales	$	1,870.9	$	1,636.3	$	234.6		14.3	%
Net income attributable to common stockholders	$	287.6	$	233.8	$	53.8		23.0	%
Net income per common share attributable to common stockholders: Diluted	$	9.09	$	7.70
Weighted average common shares attributable to common stockholders: Diluted		31,634,888		30,354,470

	FY25		FY24		$ Change		% Change
Net sales	$	1,636.3	$	1,560.3	$	76.0		4.9	%
Net income attributable to common stockholders	$	233.8	$	186.9	$	46.9		25.0	%
Net income per common share attributable to common stockholders: Diluted	$	7.70	$	6.41
Weighted average common shares attributable to common stockholders: Diluted		30,354,470		29,189,056

Net sales for the fiscal year ended March 28, 2026 increased $234.6, or 14.3%, compared to fiscal 2025. Excluding $83.9 of net sales from VACCO, net sales increased by 9.2% compared to the prior year. This increase was the result of a 3.8% increase in our Industrial segment, while net sales in our Aerospace & Defense segment increased 32.9% year over year. Industrial segment sales experienced the strongest contribution to growth in the aggregate & cement, warehousing and logistics, food & beverage and grain markets. Within Aerospace & Defense, total commercial aerospace net sales increased 17.8% and defense net sales increased 64.5% year over year. Commercial aerospace net sales, which consisted of $387.4 of OEM and $85.0 of distribution and aftermarket, increased by 17.8% compared to fiscal 2025 when OEM net sales were $317.8 and distribution and aftermarket net sales were $83.1. The OEM markets have continued to improve as build rates have steadily increased over the last several months. Our defense market net sales, which consisted of $237.1 of OEM and $78.5 of distribution and aftermarket, increased by 64.5% compared to fiscal 2025 when OEM net sales were $146.3 and distribution and aftermarket net sales were $45.6. The increase in defense sales was led by marine, missiles and guided munitions and reflects continued growth in demand which is evident by our growing backlog. The acquisition of VACCO also contributed to the sales growth. Excluding VACCO, net sales increased by 19.1% for the Aerospace & Defense segment.

Net ~~sales for the fiscal~~ ~~year~~income ~~ended~~attributable ~~March~~to ~~29,~~common ~~2025~~stockholders increased by $7653.0,8 orto 4$287.~~9%,~~6 for fiscal 2026 compared to fiscal ~~2024~~2025. ~~This~~The ~~increase~~net ~~was~~income ~~the~~attributable to ~~result~~common stockholders of ~~a 0~~$287.2%6 ~~increase~~ in ~~our Industrial~~fiscal ~~segment,~~2026 ~~while~~was ~~net~~impacted ~~sales~~by ~~in our Aerospace/Defense segment increased~~ $14.1%8 ~~year~~of ~~over~~acquisition ~~year.~~and ~~Industrial~~related ~~segment~~costs, ~~sales~~$6.2 ~~experienced~~of ~~the~~restructuring ~~strongest~~and ~~contribution to~~consolidation ~~growth~~charges, in$49.8 ~~the~~of ~~metals~~interest ~~and mining~~expense, ~~warehousing~~ and ~~logistics,~~$81.7 ~~and~~of ~~food~~income ~~and~~tax ~~beverage markets~~expense. ~~Within~~The ~~Aerospace/Defense,~~net ~~total~~income ~~commercial aerospace~~attributable ~~net~~to ~~sales~~common ~~increased~~stockholders 13of $233.3%8 ~~and~~in fiscal ~~defense~~2025 ~~net~~was ~~sales~~impacted ~~increased~~by 15$1.9%5 ~~year~~of ~~over~~restructuring ~~year.~~and ~~The~~consolidation ~~commercial~~charges, ~~aerospace~~$59.8 ~~increase~~of ~~reflects~~interest ~~the continued~~expense, ~~recovery~~$12.4 inof ~~the~~preferred ~~market~~stock ~~over~~dividends, and ~~the~~$65.7 ~~last~~of ~~year~~income tax expense.

~~Net income attributable to~~Gross common stockholders increased by $46.9 to $233.8 for fiscal 2025 compared to fiscal 2024. The net income attributable to common stockholders of $233.8 in fiscal 2025 was impacted by $1.5 of restructuring and consolidation charges, $59.8 of interest expense, $12.4 of preferred stock dividends, and $65.7 of income tax expense. The net income attributable to common stockholders of $186.9 in fiscal 2024 was impacted by $3.0 of restructuring and consolidation charges, $78.7 of interest expense, $23.0 of preferred stock dividends, and $51.9 of income tax expense.Margin

	FY26			FY25			$ Change		% Change
Gross Margin	$	830.2		$	726.1		$	104.1		14.3	%
Gross Margin %		44.4	%		44.4	%

Gross margin ~~Margin~~was 44.4% of sales for fiscal 2026 compared to 44.4% for the same period last year. The increase in gross margin was primarily driven by volume. Gross margin in fiscal 2026 was impacted by $2.1 in restructuring costs related to inventory rationalization efforts at one of our manufacturing plants and $13.2 of unfavorable purchase accounting adjustments associated with the VACCO acquisition.

	FY25			FY24			$ Change		% Change
Gross Margin	$	726.1		$	670.5		$	55.6		8.3	%
Gross Margin %		44.4	%		43.0	%

~~Gross margin was 44.4%~~Selling, ofGeneral sales for fiscal 2025 compared to 43.0% for the same period last year. Gross margin of $670.5 in fiscal 2024 included $0.3 of inventory rationalization costs associated with consolidation efforts at one of our facilities located in California. The expansion in margin during fiscal 2025 reflects the combination of product mix, pricing and ~~continued cost efficiencies and synergies achieved through integration.~~Administrative

Selling, General and Administrative

	FY26			FY25			$ Change		% Change
SG&A	$	316.1		$	279.3		$	36.8		13.2	%
% of net sales		16.9	%		17.1	%

	FY25			FY24			$ Change		% Change
SG&A	$	279.3		$	253.5		$	25.8		10.2	%
% of net sales		17.1	%		16.2	%

SG&A as a % of net sales was 16.9% compared to 17.1% in the prior fiscal year. SG&A expenses increased by $36.8 to $316.1 for fiscal 2026 compared to fiscal 2025, primarily driven by increased personnel costs and $11.2 from the inclusion of VACCO.

~~SG&A expenses increased by $25.8 to $279.3 for fiscal 2025 compared to fiscal 2024. The increase in SG&A was primarily driven by personnel costs~~Other, ~~IT costs~~ ~~and other professional fees.~~Net

Other, Net

	FY26			FY25			$ Change		% Change
Other, net	$	93.1		$	76.9		$	16.2		21.1	%
% of net sales		5.0	%		4.7	%

	FY25			FY24			$ Change		% Change
Other, net	$	76.9		$	74.8		$	2.1		2.8	%
% of net sales		4.7	%		4.8	%

Other operating expenses for fiscal 2026 totaled $93.1 compared to $76.9 for fiscal 2025. For fiscal 2026, other operating costs consisted of $81.0 of amortization expense, $1.6 of acquisition costs, $4.1 of restructuring costs, $1.1 of bad debt expense and $5.3 of other items. Of the amortization expense incurred during the period, $10.3 was related to acquired intangible assets from the VACCO acquisition. For fiscal 2025, other operating expenses consisted of $71.8 of amortization expense, $1.5 of restructuring costs, $1.2 of bad debt expense and $2.4 of other items.

~~Other operating expenses for~~Interest ~~fiscal 2025 totaled $76.9 compared to $74.8 for fiscal 2024. For fiscal 2025~~Expense, other operating costs consisted primarily of $71.8 of amortization expense, $1.5 of plant consolidation and restructuring costs, $1.2 of bad debt expense and $2.4 of other items. For fiscal 2024, other operating expenses consisted primarily of $70.4 of amortization expense, $2.7 of plant consolidation and restructuring costs, $0.2 of bad debt expense, $0.3 of acquisition costs, $0.6 of losses on disposal of assets, and $0.6 of other items.Net

Interest Expense, Net

	FY26			FY25			$ Change			% Change
Interest expense, net	$	49.8		$	59.8		$	(10.0	)		(16.7	)%
% of net sales		2.7	%		3.7	%

	FY25			FY24			$ Change			% Change
Interest expense	$	59.8		$	78.7		$	(18.9	)		(23.9	)%
% of net sales		3.7	%		5.0	%

Interest expense, net, consists of interest charged on the Company’s debt agreements and amortization of deferred financing fees, offset by interest income. Interest expense, net was $49.8 for fiscal 2026 compared to $59.8 for fiscal 2025. The decrease in interest expense between the periods was due to the reduction of the principal balance on our Term Loan (as defined in “Liquidity and Capital Resources—Liquidity—Domestic Credit Facility”), partially offset by the impact of a $200.0 draw on the Revolving Credit Facility (as defined in “Liquidity and Capital Resources—Liquidity—Domestic Credit Facility”) during the second quarter of fiscal 2026 to fund part of the VACCO acquisition. In addition, the Cross Currency Swap has enabled us to better manage interest costs.

~~Interest~~Other ~~expense,~~Non-Operating net, consists of interest charged on the Company’s debt agreements and amortization of deferred financing fees, offset by interest income. Interest expense, net was $59.8 for fiscal 2025 compared to $78.7 for fiscal 2024. The decrease in interest expense is primarily related to our debt reduction efforts, as well as the Interest Rate Swap and the Cross Currency Swap, which have enabled us to manage interest costs.Expense/(Income)

Other Non-Operating (Income)/Expense

	FY26			FY25			$ Change		% Change
Other non-operating expense/(income)	$	1.9		$	(1.8	)	$	3.7		205.6	%
% of net sales		0.1	%		(0.1	)%

	FY25			FY24			$ Change			%Change
Other non-operating (income)/expense	$	(1.8	)	$	1.7		$	(3.5	)		(205.9	)%
% of net sales		(0.1	)%		0.1	%

Other non-operating expense for fiscal 2026 totaled $1.9, consisting primarily of post-retirement benefit costs and foreign exchange gains and losses. Non-operating income during fiscal 2025 was $1.8, consisting primarily of a $4.0 legal settlement partially offset by post-retirement benefit costs and foreign exchange gains and losses.

Other non-operating income for fiscal 2025 totaled $1.8, consisting primarily of a $4.0 legal settlement partially offset by post-retirement benefit costs and foreign exchange gains and losses. Non-operating costs incurred during fiscal 2024 were $1.7, consisting primarily of post-retirement benefit costs.23

Income Taxes

	FY25			FY24
	FY26			FY25
Income tax expense	$	6581.7		$	5165.97
Effective tax rate with discrete items		2122.1	%		1921.81	%
Effective tax rate without discrete items		23.58	%		2223.95	%

Income tax expense for fiscal 2026 was $81.7 compared to $65.7 for fiscal 2025. Our effective income tax rate for fiscal 2026 was 22.1% compared to 21.1% for fiscal 2025. The effective income tax rates are different from the U.S. statutory rate due to the U.S. credits for increasing research activities and foreign-derived intangible income provision, which decrease the rate, and differences in foreign and state income taxes, which increase the rate. The effective income tax rate for fiscal 2026 of 22.1% included discrete items totaling a benefit of $6.2 which is substantially related to a benefit associated with stock-based compensation, changes in valuation allowances, and one-time adjustments to record deferred tax liabilities for foreign subsidiaries. The effective income tax rate for fiscal 2026 without these discrete items would have been 23.8%. The effective income tax rate for fiscal 2025 of 21.1% included discrete items totaling a benefit of $7.6 which is substantially related to a benefit associated with stock-based compensation, a reduction in unrecognized tax benefits due to the expiration of the statute of limitations, and benefits related to the release of a valuation allowance and an adjustment related to state remeasurements. The effective income tax rate for fiscal 2025 without these discrete items would have been 23.5%.

~~Income tax expense for fiscal~~Global ~~2025~~Minimum was $65.7 compared to $51.9 for fiscal 2024. Our effective income tax rate for fiscal 2025 was 21.1% compared to 19.8% for fiscal 2024. The effective income tax rates are different from the U.S. statutory rate due to the U.S. credits for increasing research activities and foreign-derived intangible income provision, which decrease the rate, and differences in foreign and state income taxes, which increase the rate. The effective income tax rate for fiscal 2025 of 21.1% included discrete items totaling a benefit of $7.6 which is substantially related to a benefit associated with stock-based compensation, a reduction in unrecognized tax benefits due to the expiration of the statute of limitations, and benefits related to the release of a valuation allowance and an adjustment related to state remeasurements. The effective income tax rate for fiscal 2025 without these discrete items would have been 23.5%. The effective income tax rate for fiscal 2024 of 19.8% included discrete items totaling a benefit of $8.2 which is substantially related to a benefit associated with stock-based compensation, a reduction in unrecognized tax benefits due to the expiration of the statute of limitations, and the accrual of deferred tax assets related to state tax modifications. The effective income tax rate for fiscal 2024 without these discrete items would have been 22.9%.Tax

~~Global~~In October ~~Minimum~~2021, ~~Tax~~the Organisation for Economic Co-operation and Development (“OECD”) announced an Inclusive Framework on Base Erosion and Profit Shifting including Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large multinational corporations at a minimum rate of 15%. Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 with the adoption of additional components in later years or announced their plans to enact legislation in future years. The Company has performed an assessment of the potential impact to its income taxes as a result of Pillar Two. Based on the results of the assessment, the Company believes that it can avail itself of the transitional safe harbor rules in all jurisdictions in which the Company operates. We will continue to monitor both the U.S. and international legislative developments related to Pillar Two to assess for any potential impacts. We are continuing to evaluate the impacts of enacted legislation and pending legislation to enact Pillar Two Model Rules in the non-US tax jurisdictions in which we operate.

~~In October 2021, the Organisation~~One ~~for~~Big ~~Economic~~Beautiful ~~Co-operation~~Bill and Development (“OECD”) announced an Inclusive Framework on Base Erosion and Profit Shifting including Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large multinational corporations at a minimum rate of 15%. Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 with the adoption of additional components in later years or announced their plans to enact legislation in future years. The Company has performed an assessment of the potential impact to its income taxes as a result of Pillar Two. Based on the results of the assessment, the Company believes that it can avail itself of the transitional safe harbor rules in all jurisdictions in which the Company operates. We will continue to monitor both the U.S. and international legislative developments related to Pillar Two to assess for any potential impacts. We are continuing to evaluate the impacts of enacted legislation and pending legislation to enact Pillar Two Model Rules in the non-US tax jurisdictions in which we operate.Act

~~Segment~~On July ~~Information~~4, 2025, the U.S. enacted new legislation, Public Law No: 119-21, The One Big Beautiful Bill Act (“The Act”). The Act includes several U.S. corporate tax provisions, including restoring immediate deductibility of certain capital expenditures, restoring full expensing of domestic research and development costs, and changes in the computations of U.S. taxation on international earnings. As the Company continues to analyze the changes in tax law contained in the Act, we expect the Act to result in a favorable timing shift in our U.S. cash tax payments, with no material impact on our fiscal 2026 effective tax rate.

~~We report our financial results~~Segment ~~under two operating segments: Aerospace/Defense and Industrial. We use gross margin as the primary measurement to assess the financial performance of each reportable segment.~~Information

We report our financial results under two operating segments: Aerospace/ & Defense ~~Segment:~~and Industrial. We use gross margin as the primary measurement to assess the financial performance of each reportable segment.

	FY25			FY24			$ Change		% Change
Net sales	$	592.8		$	519.4		$	73.4		14.1	%
Gross margin	$	243.1		$	208.8		$	34.3		16.4	%
Gross margin %		41.0	%		40.2	%
SG&A	$	42.6		$	37.8		$	4.8		12.6	%
% of segment net sales		7.2	%		7.3	%

~~Net sales increased~~Aerospace ~~$73.4,~~& orDefense 14.1%, for fiscal 2025 compared to fiscal 2024. Commercial aerospace net sales, which consisted of $317.8 of OEM and $83.1 of distribution and aftermarket, increased by 13.3% compared to fiscal 2024 when OEM net sales were $278.5 and distribution and aftermarket net sales were $75.3. This was driven by a continuing recovery as build rates and orders grew in the OEM markets and aftermarket demand remained strong. Our defense markets net sales, which consisted of $146.3 of OEM and $45.6 of distribution and aftermarket, increased by 15.9% compared to fiscal 2024 when OEM net sales were $135.3 and distribution and aftermarket net sales were $30.3.Segment:

Our backlog and recent results reflect continued growth in demand which we expect to continue in upcoming quarters. Our defense markets, which represented about 32.4% of sales, increased by approximately 15.9% during the period, driven by increased sales and order volume in the marine, fixed wing, and missiles and guided munitions end markets. Distribution and aftermarket sales, which represent 21.7% of segment sales, were up 21.7% year over year.

	FY26			FY25			$ Change		% Change
Net sales	$	788.0		$	592.8		$	195.2		32.9	%

Gross margin	$	320.7		$	243.1		$	77.6		31.9	%
Gross margin %		40.7	%		41.0	%

SG&A	$	58.1		$	42.6		$	15.5		36.4	%
% of segment net sales		7.4	%		7.2	%

~~Gross~~Net sales ~~margin~~increased ~~was~~ $~~243~~195.12, or 4132.09%, offor fiscal 2026 compared to fiscal 2025. Commercial aerospace net sales, inwhich ~~fiscal~~consisted ~~2025~~of $387.4 of OEM and $85.0 of distribution and aftermarket, increased by 17.8% compared to fiscal 2025 when OEM net sales were $~~208~~317.8 and distribution and aftermarket net sales were $83.1. The OEM markets have continued to improve in line with build rates. Our defense market net sales, which orconsisted 40of $237.2%1 of ~~sales~~OEM and $78.5 of distribution and aftermarket, ~~for~~increased ~~the~~by ~~same~~64.5% ~~period~~compared into fiscal ~~2024~~2025 when OEM net sales were $146.3 Weand ~~anticipate~~distribution and aftermarket net sales were $45.6. The increase in defense sales was led by marine, missiles and guided ~~additional~~munitions ~~margin~~and ~~expansion~~reflects continued growth in ~~the~~demand ~~upcoming~~which ~~year~~is asevident ~~the~~by our growing ~~orders~~backlog. ~~for~~The ~~commercial~~acquisition ~~products~~of ~~are~~VACCO ~~expected~~also contributed to ~~increase~~the ~~volumes~~sales growth. Excluding VACCO, net sales increased by 19.1% for the Aerospace & Defense segment. ~~flowing~~Excluding ~~through~~VACCO, ~~our~~commercial ~~manufacturing~~net ~~facilities~~sales ~~driving~~increased ~~cost~~17.3% ~~efficiencies~~and defense market net sales increased 22.9% compared to the same period in the prior year.

23Gross margin was $320.7, or 40.7% of net sales, in fiscal 2026 compared to $243.1, or 41.0% of sales, for the same period in fiscal 2025. We anticipate additional margin expansion in the upcoming year as the growing orders for commercial products are expected to increase volumes flowing through our manufacturing facilities driving cost efficiencies. Expected synergies from the VACCO acquisition should also contribute to margin expansion. Gross margin in fiscal 2026 was affected by $13.2 of purchase accounting adjustments related to the VACCO acquisition.

Industrial Segment:

	FY25			FY24			$ Change		% Change
	FY26			FY25			$ Change		% Change
Net sales	$	1,~~043~~082.59		$	1,~~040~~043.95		$	239.64		03.28	%
Gross margin	$	~~483~~509.05		$	~~461~~483.70		$	2126.35		45.65	%
Gross margin %		4647.30	%		4446.43	%
SG&A	$	~~136~~141.5		$	~~132~~136.85		$	35.70		23.97	%
% of segment net sales		13.1	%		1213.81	%

Net sales increased $239.64, or 03.28%, during fiscal ~~2025~~2026 compared to the same period last year. The continued strong performance was driven by the aggregate and cement, warehousing, food & beverage and grain markets, partially offset by softness in the mining ~~and~~& ~~general~~metals, ~~industrial~~power generation and oil & gas end markets. Sales to distribution and the aftermarket were $~~717~~751.49 in fiscal ~~2025~~2026 compared to $~~707~~717.6 4 in the prior year, a 1.4.8% ~~year~~ year-over -year increase. OEM sales ~~were~~increased 1.5% to $~~326~~331.10 for fiscal ~~2025~~2026 compared to $~~333~~326.~~3 in the prior year. The 2.~~1% ~~decrease~~ in ~~OEM sales compared to~~ the prior year ~~was primarily due to softness in the machinery, oil and gas, and semiconductor equipment end markets~~.

Gross margin was $~~483~~509.05, or 46 47.30% of net sales, in fiscal ~~2025~~2026 compared to $~~461~~483.70, or 4446.43% of sales, for the same period in fiscal ~~2024~~2025. The expansion in margin year over year was attributable to manufacturing efficiencies and product mix.

~~Corporate:~~25

	FY25			FY24			$ Change		% Change
SG&A	$	100.2		$	82.9		$	17.3		20.8	%
% of total net sales		6.1	%		5.3	%

Corporate:

Corporate SG&A for fiscal 2025 increased $17.3 or 20.8% compared to fiscal 2024 due to increased spending in IT and personnel-related costs. As a percentage of net sales, Corporate SG&A was relatively flat year over year.

	FY26			FY25			$ Change		% Change
SG&A	$	116.5		$	100.2		$	16.3		16.3	%
% of total net sales		6.2	%		6.1	%

~~Liquidity~~Corporate SG&A for fiscal 2026 increased $16.3 or 16.3% compared to fiscal 2025 due to increased spending in IT and ~~Capital~~personnel-related ~~Resources~~costs. As a percentage of net sales, Corporate SG&A was relatively flat year over year.

~~Our business is capital-intensive.~~Liquidity ~~Our capital requirements include manufacturing equipment~~ and ~~materials.~~Capital In addition, we have historically fueled our growth, in part, through acquisitions. We have historically met our working capital, capital expenditure requirements and acquisition funding needs through our net cash flows provided by operations, various debt arrangements and sale of equity to investors. We believe that operating cash flows and available credit under our revolving bank credit facilities will provide adequate resources to fund internal growth initiatives for the foreseeable future.Resources

Our ~~ability to meet future~~ ~~working~~business ~~capital,~~is capital-intensive. ~~expenditures~~Our ~~and~~capital ~~debt service~~ requirements ~~will~~include ~~depend~~manufacturing onequipment ~~our~~and ~~future~~materials. ~~financial~~In ~~performance~~addition, ~~which~~we ~~will~~have ~~be affected~~historically byfueled aour ~~range of economic~~growth, ~~competitive~~in ~~and business factors~~part, ~~particularly~~through ~~interest~~acquisitions. ~~rates,~~We ~~cyclical~~have ~~changes~~historically inmet our ~~end~~working ~~markets~~capital, ~~and~~capital ~~prices for~~expenditure ~~steel~~requirements and acquisition ~~our~~funding ~~ability~~needs ~~to pass~~ through ~~price~~our ~~increases~~net oncash aflows ~~timely~~provided ~~basis~~by operations, ~~many~~various ofdebt ~~which~~arrangements ~~are~~and ~~outside~~sale of ~~our~~equity ~~control~~to investors. We Inbelieve ~~addition,~~that ~~future acquisitions~~operating ~~could~~cash ~~have~~flows aand ~~significant~~available ~~impact~~credit onunder our ~~liquidity~~revolving ~~position~~bank ~~and~~credit ~~our~~facilities ~~need~~will provide adequate resources to fund internal growth initiatives for ~~additional~~the ~~funds~~foreseeable future.

~~From~~Our ability ~~time~~ to ~~time,~~meet wefuture ~~evaluate our~~working ~~existing~~capital, ~~facilities~~capital expenditures and ~~operations~~debt ~~and~~service ~~their~~requirements ~~strategic~~will ~~importance~~depend toon ~~us.~~our Iffuture wefinancial ~~determine~~performance, which ~~that~~will abe ~~given~~affected ~~facility~~by ora ~~operation~~range ~~does~~of ~~not have~~economic, ~~future~~competitive ~~strategic~~and ~~importance~~business factors, weparticularly ~~may~~interest ~~sell~~rates, ~~relocate,~~cyclical ~~consolidate~~changes orin ~~otherwise~~our end ~~dispose~~markets ofand ~~those~~prices ~~operations.~~for ~~Although~~steel weand ~~believe~~ our ~~operations~~ ~~would~~ability ~~not~~to bepass ~~materially~~through ~~impaired~~price byincreases ~~such~~on ~~dispositions~~a timely basis, ~~relocations~~many orof ~~consolidations~~which are outside of our control. In addition, wefuture acquisitions could ~~incur~~have a significant ~~cash~~impact oron ~~non-cash charges~~our inliquidity ~~connection~~position ~~with~~and ~~them~~our need for additional funds.

~~Liquidity~~From time to time, we evaluate our existing facilities and operations and their strategic importance to us. If we determine that a given facility or operation does not have future strategic importance, we may sell, relocate, consolidate or otherwise dispose of those operations. Although we believe our operations would not be materially impaired by such dispositions, relocations or consolidations, we could incur significant cash or non-cash charges in connection with them.

As of March 29, 2025, we had cash of $36.8, of which, approximately $23.7 was cash held by our foreign operations. We expect that our undistributed foreign earnings will be re-invested indefinitely for working capital, internal growth and acquisitions for and by our foreign subsidiaries, with the exception of our Canadian operations as there are no current plans to expand on the sales operations within that jurisdiction. As discussed in further detail below, we also have the ability to borrow money from our existing credit facilities.Liquidity

~~Domestic~~As of ~~Credit~~March ~~Facility~~28, 2026, we had cash of $57.3, of which, approximately $33.1 was cash held by our foreign operations. We expect that our undistributed foreign earnings will be re-invested indefinitely for working capital, internal growth and acquisitions for and by our foreign subsidiaries, with the exception of our Canadian operations as there are no current plans to expand on the sales operations within that jurisdiction. As discussed in further detail below, we also have the ability to borrow money from our existing credit facilities.

~~In fiscal 2022, RBC Bearings~~Domestic ~~Incorporated, our top holding company, and our Roller Bearing Company of America, Inc. subsidiary (“RBCA”) entered into a~~ Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other lenders party thereto. The Credit Agreement provides the Company with (a) a $1,300.0 term loan (the “Term Loan”), which was used to fund a portion of the cash purchase price for the acquisition of Dodge Industrial and to pay related fees and expenses, and (b) a $500.0 revolving credit facility (the “Revolving Credit Facility~~” and together with the Term Loan, the “Facilities”). Debt issuance costs associated with the Credit Agreement totaled $14.9 and are being amortized over the life of the Credit Agreement.~~

24In fiscal 2022, RBC Bearings Incorporated, our top holding company, and our Roller Bearing Company of America, Inc. subsidiary (“RBCA”) entered into a Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), and the other lenders party thereto. The Credit Agreement provides the Company with (a) a $1,300.0 term loan (the “Term Loan”), which was used to fund a portion of the cash purchase price for the acquisition of Dodge Industrial and to pay related fees and expenses, and (b) a $500.0 revolving credit facility (the “Revolving Credit Facility” and together with the Term Loan, the “Facilities”).

Amounts outstanding under the Facilities generally bear interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 0.50% and (iii) Term SOFR (as defined in the Credit Agreement based on SOFR, the secured overnight financing rate administered by the Federal Reserve Bank of New York) plus 1.00% or (b) Term SOFR plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to 2.00% depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA (as defined within the Credit Agreement) from time to time. The Facilities are subject to a SOFR floor of 0.00%. As of March 29, 2025, the Company’s margin was 1.00% for SOFR loans, the commitment fee rate was 0.175%, and the letter of credit fee rate was 1.00%. A portion of the Term Loan is subject to a fixed-rate interest swap as discussed in Note 12.26

~~The~~Amounts outstanding ~~Term~~under ~~Loan~~the ~~matures~~Facilities ingenerally ~~November~~bear interest at either, at the Company’s option, (a) a base rate determined by reference ~~2026~~to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 0.50% and ~~amortizes~~(iii) inTerm ~~quarterly~~SOFR ~~installments~~(as defined ~~with~~in the ~~balance~~Credit ~~payable~~Agreement based on SOFR, the ~~maturity~~secured ~~date.~~overnight ~~The~~financing ~~Company~~rate ~~can~~administered ~~elect~~by tothe ~~prepay~~Federal ~~some~~Reserve orBank ~~all~~ of ~~the~~New ~~outstanding~~York) plus ~~balance~~1.00% ~~from~~or ~~time~~(b) toTerm ~~time~~SOFR ~~without~~plus ~~penalty,~~a ~~which~~credit ~~will~~spread ~~offset~~adjustment ~~future~~of ~~quarterly~~0.10% ~~amortization~~plus ~~installments.~~a ~~Due~~margin ranging from 0.75% to ~~prepayments~~a cap of 1.75% in the case of ~~previously~~loans ~~made,~~under the ~~required~~Revolving ~~future~~Credit ~~principal~~Facility ~~payments~~and on2.00% in the case of the Term Loan ~~are~~depending $0on ~~for~~the ~~fiscal~~Company’s ~~2026~~consolidated ~~and~~ratio of ~~$413.0~~total ~~for~~net ~~fiscal~~debt ~~2027~~to consolidated EBITDA (as defined in the Credit Agreement) from time to time. The ~~Revolving~~Facilities are subject to a SOFR ~~Credit~~floor ~~Facility~~of ~~expires~~0.00%. inAs ~~November~~of March 28, 2026, atthe ~~which~~Company’s ~~time~~margin ~~all~~was ~~amounts~~1.00% ~~outstanding~~for ~~under~~SOFR loans, the ~~Revolving~~commitment ~~Credit~~fee ~~Facility~~rate ~~will~~was be0.175%, ~~payable~~and the letter of credit fee rate was 0.75%.

The ~~Credit Agreement requires~~ ~~the~~Term ~~Company~~Loan tomatures ~~comply~~in ~~with~~November ~~various~~2026 ~~covenants,~~and ~~including~~amortizes ~~the~~in ~~following~~quarterly ~~financial~~installments ~~covenants:~~with ~~(a)~~the abalance ~~maximum~~payable ~~Total~~on ~~Net Leverage Ratio (as defined within~~ the ~~Credit~~maturity ~~Agreement) of 5~~date.~~00:1.00,~~ ~~which~~The ~~maximum Total Net Leverage Ratio shall decrease during certain subsequent test~~Company ~~periods~~can aselect ~~set~~to ~~forth~~prepay insome ~~the~~or ~~Credit~~all ~~Agreement (provided that, no more than once during the term~~ of the ~~Facilities,~~outstanding ~~such~~balance ~~maximum~~from ~~ratio~~time ~~applicable at~~to ~~such~~ time ~~may~~without bepenalty, ~~increased~~which bywill ~~the~~offset ~~Company~~future byquarterly 0amortization installments.~~50:1.00~~ ~~for~~Due ato ~~period~~prepayments ofpreviously ~~twelve~~made, ~~(12) months after~~ the ~~consummation~~required offuture aprincipal ~~material~~payments ~~acquisition); and~~on ~~(b)~~the aTerm ~~minimum~~Loan ~~Interest~~are ~~Coverage Ratio of 2~~$173.~~00:1.00.~~0 Asfor offiscal ~~March 29, 2025 the Company was in compliance with all debt covenants~~2027.

~~The~~Originally the Revolving Credit ~~Agreement~~Facility ~~allows~~ was to expire in November 2026 but on October 28, 2025, the ~~Company~~Credit Agreement was amended to, among other things, ~~make~~(i) ~~distributions~~extend the expiration date of the Revolving Credit Facility to ~~stockholders~~October 2030, ~~repurchase~~(ii) ~~its~~eliminate ~~stock,~~the ~~incur~~minimum ~~other~~interest ~~debt~~coverage ratio orcovenant ~~liens~~from the Credit Agreement, orand ~~acquire~~(iii) ~~or dispose~~reduce ofthe ~~assets~~margin ~~provided~~cap ~~that~~within the ~~Company~~pricing ~~complies~~grid ~~with~~on ~~certain~~Term ~~requirements~~SOFR-based ~~and~~loans ~~limitations~~under ofthe Revolving Credit Facility from 2.00% to 1.75%. All amounts outstanding under the Revolving Credit ~~Agreement~~Facility will be payable on its expiration date.

~~The~~In connection ~~Company’s~~with ~~domestic subsidiaries~~the ~~have~~amendment, ~~guaranteed~~new ~~the~~debt ~~Company’s~~issuance ~~obligations~~costs ~~under~~totaled $1.8. Additionally, $0.6 of previously unamortized debt issuance costs associated with the Revolving Credit ~~Agreement,~~Facility ~~and~~will ~~the~~now ~~Company’s~~be ~~obligations~~associated ~~and~~with the ~~domestic~~new arrangement. The total of $2.4 debt issuance costs ~~subsidiaries’~~will ~~guaranty~~be ~~are~~amortized ~~secured~~through bythe anew ~~pledge~~term of ~~substantially~~October ~~all~~2030. The remaining portion of original debt issuance costs associated with the ~~assets~~Term Loan of $1.6 will continue to be amortized through the ~~Company~~end ~~and~~of ~~its~~the ~~domestic~~Term ~~subsidiaries~~Loan in November 2026.

The Credit AsAgreement ofrequires ~~March~~the ~~29,~~Company ~~2025,~~to ~~$413.0~~comply ~~was~~with ~~outstanding under~~various ~~the~~covenants, ~~Term~~including ~~Loan,~~a ~~$5.0~~maximum ~~was~~Total ~~outstanding~~Net ~~under~~Leverage ~~the~~Ratio ~~Revolving~~(as defined within the Credit ~~Facility~~Agreement) ~~and~~of $34.750:1.00 of(provided ~~the~~that ~~Revolving~~such ~~Credit~~maximum ~~Facility~~ratio ~~was~~may ~~being~~be ~~utilized~~ increased by the Company to ~~provide~~0.50:1.00 ~~letters~~for ofa ~~credit~~period toof ~~secure~~12 months after the ~~Company’s~~consummation ~~obligations~~of ~~relating~~a tomaterial ~~certain~~acquisition ~~insurance~~(provided ~~programs.~~that ~~The~~there ~~Company~~may ~~had~~be ~~the~~only ~~ability to~~one ~~borrow~~such upincrease toin aneffect ~~additional~~at ~~$491~~any one time)).3 As ~~under~~of March 28, 2026 the ~~Revolving~~Company ~~Credit~~was ~~Facility~~in ascompliance ofwith ~~March~~all ~~29,~~debt ~~2025~~covenants.

~~Senior~~The Credit ~~Notes~~Agreement allows the Company to, among other things, make distributions to stockholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the Credit Agreement.

~~In fiscal 2022, RBCA issued~~The ~~$500.0~~Company’s ~~aggregate~~domestic ~~principal~~subsidiaries ~~amount~~have ofguaranteed ~~4.375%~~the ~~Senior~~Company’s ~~Notes~~obligations ~~due~~under ~~2029 (~~the ~~“Senior~~Credit ~~Notes”).~~Agreement, ~~The~~and ~~net proceeds from~~ the ~~issuance~~Company’s ofobligations and the ~~Senior~~domestic ~~Notes were approximately $492.0, after deducting initial purchasers~~subsidiaries’ ~~discounts~~guaranty ~~and~~are ~~commissions~~secured ~~and~~by ~~offering~~a ~~expenses, and~~pledge ~~were~~of ~~used~~substantially toall ~~fund a portion~~ of the ~~purchase~~assets ~~price~~of ~~for~~ the ~~acquisition~~Company ofand its ~~Dodge~~domestic subsidiaries.

~~The Senior Notes were issued~~As ~~pursuant~~of toMarch ~~an indenture with Wilmington Trust~~28, ~~National Association~~2026, ~~as trustee (the “Indenture”)~~$173.0 ~~The~~was ~~Indenture~~outstanding ~~contains covenants~~under ~~limiting~~ the ~~ability~~Term ofLoan, ~~the~~$200.0 ~~Company~~was tooutstanding ~~(i)~~under ~~incur~~the ~~additional~~Revolving ~~indebtedness~~Credit orFacility ~~guarantee indebtedness,~~ (~~ii)~~used ~~declare~~to ~~or pay dividends,~~fund ~~redeem~~a ~~stock~~portion orof ~~make~~the ~~other~~purchase ~~distributions~~price tofor ~~stockholders, (iii~~VACCO) ~~make investments~~, ~~(iv)~~and ~~create~~$3.7 ~~liens~~of orthe ~~use~~Revolving ~~assets~~Credit asFacility ~~security~~was inbeing ~~other transactions,~~utilized ~~(v)~~to ~~merge~~provide orletters ~~consolidate, or sell, transfer, lease or dispose~~ of ~~substantially all of its assets, (vi) enter into transactions~~credit ~~with~~to ~~affiliates,~~secure ~~and~~the ~~(vii)~~Company’s ~~sell~~obligations orrelating ~~transfer~~to certain ~~assets~~insurance programs. ~~These~~The ~~covenants~~Company ~~contain~~had ~~various~~the ~~exceptions,~~ability ~~limitations~~to ~~and~~borrow ~~qualifications.~~an additional At$296.3 ~~any~~under ~~time that~~ the ~~Senior~~Revolving ~~Notes~~Credit ~~are~~Facility ~~rated~~as ~~investment grade, certain~~ of ~~these~~March ~~covenants~~28, ~~will be suspended~~2026.

~~The~~ Senior ~~Notes are guaranteed~~ ~~jointly and severally on a senior unsecured basis by RBC Bearings and certain of RBCA’s existing and future wholly-owned domestic subsidiaries that also guarantee the Credit Agreement.~~Notes

~~Interest~~In fiscal on2022, ~~the~~RBCA ~~Senior~~issued ~~Notes accrues~~$500.0 ataggregate aprincipal ~~rate~~amount of 4.375% ~~and~~Senior isNotes ~~payable~~due ~~semi–annually~~2029 in(the ~~cash~~“Senior inNotes”). ~~arrears~~The onnet proceeds ~~April~~from 15the issuance of the Senior Notes were approximately $492.0, after deducting initial purchasers’ discounts and ~~October~~commissions and 15offering expenses, and were used to fund a portion of ~~each~~the ~~year~~purchase price for the acquisition of Dodge.

The Senior Notes will mature on October 15, 2029. The Company may redeem some or all of the Senior Notes at any time on or after October 15, 2024 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company may also redeem up to 40% of the Senior Notes using the proceeds of certain equity offerings completed before October 15, 2024, at a redemption price equal to 104.375% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain of its assets or experiences specific kinds of changes in control, the Company must offer to purchase the Senior Notes.27

25The Senior Notes were issued pursuant to an indenture with Wilmington Trust, National Association, as trustee (the “Indenture”). The Indenture contains covenants limiting the ability of the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other distributions to stockholders, (iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) sell or transfer certain assets. These covenants contain various exceptions, limitations and qualifications. At any time that the Senior Notes are rated investment grade, certain of these covenants will be suspended.

~~Foreign~~The Senior ~~Borrowing~~Notes ~~Arrangements~~are guaranteed jointly and severally on a senior unsecured basis by RBC Bearings and certain of RBCA’s existing and future wholly-owned domestic subsidiaries that also guarantee the Credit Agreement.

~~One of our foreign subsidiaries,~~Interest ~~Schaublin~~on ~~SA, has a CHF 5.0 (approximately $5.5 USD) credit line (~~the ~~“Foreign~~Senior ~~Credit~~Notes ~~Line”)~~accrues ~~with~~at ~~Credit~~a ~~Suisse~~rate ~~(Switzerland) Ltd. to provide future working capital, if necessary. As~~ of ~~March 29, 2025, $0~~4.1375% ~~was~~and ~~being~~is ~~utilized~~payable tosemi–annually ~~provide~~in acash ~~bank~~in ~~guarantee.~~arrears ~~Fees associated~~on ~~with~~April ~~the~~15 ~~Foreign~~and ~~Credit~~October ~~Line~~15 ~~are~~of ~~nominal~~each year.

InThe Senior ~~July~~Notes ~~2024,~~will ~~Swiss~~mature ~~Tool~~on ~~Systems~~October 15, ~~one~~ of2029. ~~our~~The ~~foreign~~Company ~~subsidiaries,~~may ~~purchased~~redeem some or all of the ~~building~~Senior ~~where~~Notes itat ~~operates~~any ~~for~~time ~~CHF~~at ~~7.1~~the ~~(approximately~~redemption ~~$8.4~~prices set ~~USD)~~forth in the Indenture, plus accrued and ~~took~~unpaid ~~out~~interest, aif ~~10-year~~any, to, but excluding, the redemption date. If the Company sells certain ~~fixed-rate~~of ~~mortgage~~its onassets or experiences specific kinds of changes in control, the ~~building~~Company ~~for~~must ~~CHF~~offer ~~4.0~~to ~~(approximately~~purchase ~~$4.5~~the ~~USD)~~Senior Notes.

~~Interest~~Foreign Borrowing ~~Rate Swap~~ Arrangements

InOne of ~~fiscal~~our ~~2023~~foreign subsidiaries, ~~the~~Schaublin ~~Company entered~~SA, ~~into~~has a ~~three-year~~CHF U5.S.0 ~~dollar-denominated interest rate swap~~ (~~“the~~approximately ~~Interest~~$6.1 ~~Rate Swap”~~USD) ~~from~~credit aline ~~third-party~~with ~~financial counterparty~~Credit ~~under~~Suisse ~~the~~(Switzerland) ~~Credit Agreement~~Ltd. ~~The Interest Rate Swap was executed~~ to provide ~~protect~~future ~~the~~working ~~Company~~capital, ~~from~~if ~~interest rate volatility on our variable-rate Term Loan~~necessary. ~~The~~As ~~Interest~~of ~~Rate~~March ~~Swap~~28, ~~became effective December 30~~2026, ~~2022 and is comprised of a~~ $~~600.~~0 ~~notional with a maturity of three years~~.1 Wewas ~~receive~~being autilized ~~variable~~to ~~rate~~provide ~~based on one-month Term SOFR and pay~~ a ~~fixed~~bank ~~rate of 4~~guarantee.~~455%.~~ ~~The~~Fees ~~notional on the Interest Rate~~associated ~~Swap~~with ~~will~~this ~~amortize~~credit asline ~~follows:~~are nominal.

~~Year~~In July 2024, Swiss Tool Systems, one of our foreign subsidiaries, purchased the building where it operates for CHF 7.1: (approximately $~~600~~8.4 USD) and took out a 10-year, 2.9% fixed-rate mortgage on the building for CHF 4.0 (approximately $4.5 USD).

~~Year~~Interest Rate 2:Swap ~~$400.0~~

~~Year~~Because the 3:Company ~~$100~~is exposed to market risks relating to fluctuations in interest rates, the Company maintained an interest rate swap prior to its expiration on December 30, 2025 (the “Interest Rate Swap”).0 At this time we have not yet determined if we will enter into a new interest rate swap arrangement.

~~The~~Cross Currency ~~Interest Rate~~ Swap has been designated as a cash flow hedge of the variability of the first unhedged interest payments (the hedged transactions) paid over the hedging relationship’s specified time period of three years attributable to the borrowing’s contractually specified interest index on the hedged principal of its general borrowing program or replacement or refinancing thereof.

~~Cross~~The Company ~~Currency~~is ~~Swap~~exposed to foreign exchange rate fluctuations as some of our subsidiaries operate in various countries.

On August 12, 2024, the Company entered into the Cross Currency Swap with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. The Cross Currency Swap is ~~exposed~~based upon a net investment of CHF 69.4 ($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month ~~foreign~~basis based upon a fixed ~~exchange~~annual rate ~~fluctuations~~of as2.77% ~~some~~of the notional amount. At maturity, RBC will net-settle the principal of ~~our~~the ~~subsidiaries~~Cross ~~operate~~Currency Swap in ~~various~~cash ~~countries~~with the counterparty. The Cross Currency Swap has been designated as a net investment hedge on an after-tax basis.

~~On August 12, 2024, the Company~~Preferred entered into the Cross Currency Swap with a third-party financial counterparty. The objective of the Cross Currency Swap is to economically hedge the Company’s net investment in its lower-tier European subsidiary, Schaublin, against adverse changes in the Swiss franc/U.S. dollar exchange rate. The Cross Currency Swap is based upon a net investment of CHF 69.4 ($80.0 USD) notional amount with a three-year maturity date. RBC receives a fixed U.S. dollar amount on a month-to-month basis based upon a fixed annual rate of 2.77% of the notional amount. At maturity, RBC will net-settle the principal of the Cross Currency Swap in cash with the counterparty. The Cross Currency Swap has been designated as a net investment hedge on an after-tax basis.Stock

Prior to October 15, 2024, the Company had outstanding 4,600,000 shares of 5.00% Series A Mandatory Convertible Preferred Stock (“MCPS”) to which we paid a quarterly dividend aggregating $5.75, but on that date each then-outstanding share of the MCPS converted into 0.4413 shares of common stock, resulting in the retirement of the MCPS and the issuance of 2,029,955 shares of common stock, and the cessation of the Company paying related dividends.

Prior to October 15, 2024, the Company had outstanding 4,600,000 shares of 5.00% Series A Mandatory Convertible Preferred Stock (“MCPS”) to which we paid a quarterly dividend aggregating $5.75, but on that date each then-outstanding share of the MCPS converted into 0.4413 shares of common stock, resulting in the retirement of the MCPS and the issuance of 2,029,955 shares of common stock. Because the MCPS is no longer outstanding, the Company will not pay MCPS dividends in the future, resulting in a cash savings of $23.0 per year.28

26Cash Flows

~~Cash~~Fiscal 2026 ~~Flows~~Compared to Fiscal 2025

~~Fiscal~~The following ~~2025~~table ~~Compared~~summarizes toour ~~Fiscal~~cash ~~2024~~flow activities:

The following table summarizes our cash flow activities:

	FY26			FY25			$ Change
Net cash provided by (used in):
Operating activities	$	415.7		$	293.6		$	122.1
Investing activities		(349.7	)		(49.8	)		(299.9	)
Financing activities		(43.3	)		(270.4	)		227.1
Effect of exchange rate changes on cash		(2.2	)		(0.1	)		(2.1	)
(Decrease)/increase in cash	$	20.5		$	(26.7	)	$	47.2

	FY25			FY24			$ Change
Net cash provided by (used in):
Operating activities	$	293.6		$	274.7		$	18.9
Investing activities		(49.8	)		(52.2	)		2.4
Financing activities		(270.4	)		(223.5	)		(46.9	)
Effect of exchange rate changes on cash		(0.1	)		(0.9	)		0.8
(Decrease)/increase in cash	$	(26.7	)	$	(1.9	)	$	(24.8	)

During fiscal 2026, we generated cash of $415.7 from operating activities compared to $293.6 for fiscal 2025. The increase of $122.1 was the result of a $41.4 increase in net income, a $56.8 favorable change in non-cash activity and net favorable change in operating assets and liabilities of $23.9. The favorable change in operating assets and liabilities is detailed in the table below. The change in non-cash activity was driven by $8.8 more depreciation and amortization, $6.1 more stock-based compensation, $0.6 more amortization of deferred financing costs, $37.7 more deferred taxes, $0.9 more non-cash operating lease expense, $0.2 of additional losses on the disposition of assets and $2.5 more restructuring and other non-cash charges.

~~During fiscal 2025, we generated~~The ~~cash~~following ofchart ~~$293.6~~summarizes ~~from operating activities compared to $274.7 for fiscal 2024. The increase of $18.9 was mainly~~ the ~~result~~impact ofon ~~a $36.3 increase in net income partially offset by a $6.2 unfavorable change in non-~~cash ~~activity~~flow ~~and~~from ~~net unfavorable change in~~ operating assets and liabilities of ~~$11.2.~~for ~~The~~fiscal ~~unfavorable~~2026 ~~change~~versus infiscal ~~operating assets and liabilities is detailed in the table below~~2025. The change in non-cash activity was primarily driven by $0.7 more depreciation and amortization and $11.0 more stock-based compensation partially offset by $0.6 less amortization of deferred financing costs, a $14.5 unfavorable change in deferred taxes, $0.5 less non-cash operating lease expense, $0.2 less losses on the disposition of assets, and $2.1 less in restructuring and other non-cash charges.

The following chart summarizes the impact on cash flow from operating assets and liabilities for fiscal 2025 versus fiscal 2024.

	FY26			FY25
Cash provided by (used in):
Accounts receivable	$	(19.4	)	$	(53.3	)
Inventory		(43.7	)		(32.3	)
Prepaid expenses and other current assets		10.5			(3.9	)
Other noncurrent assets		(16.7	)		0.5
Accounts payable		1.4			22.2
Accrued expenses and other current liabilities		(16.4	)		(2.3	)
Other noncurrent liabilities		24.4			(14.7	)
Total change in operating assets and liabilities	$	(59.9	)	$	(83.8	)

	FY25			FY24
Cash provided by (used in):
Accounts receivable	$	(53.3	)	$	(13.4	)
Inventory		(32.3	)		(31.6	)
Prepaid expenses and other current assets		(3.9	)		(2.4	)
Other noncurrent assets		0.5			(3.0	)
Accounts payable		22.2			(30.7	)
Accrued expenses and other current liabilities		(2.3	)		9.0
Other noncurrent liabilities		(14.7	)		(0.5	)
Total change in operating assets and liabilities	$	(83.8	)	$	(72.6	)

During fiscal 2026, we used $349.7 for investing activities as compared to $49.8 for fiscal 2025. The increase in cash used was attributable to $276.7 used for the VACCO acquisition and a $23.3 increase in capital expenditures.

During fiscal ~~2025~~2026, we used cash of $4943.83 for ~~investing~~financing activities as compared to $52270.24 ~~for~~in fiscal ~~2024~~2025. This ~~decrease~~change ~~in cash used~~ was primarily attributable to $19133.30 of additional proceeds received from the Revolving Credit Facility. Additionally, we had $22.0 less of payments made on the ~~cash~~Term ~~used~~Loan, ~~for~~$17.2 ~~acquisitions~~less inof ~~fiscal~~preferred ~~2025~~stock dividends paid, and $77.4 ~~This~~less ~~was~~of revolving credit facilities payments, partially offset by $161.68 more ~~capital~~of ~~expenditures~~financing ~~and~~fees paid, $010.37 less ~~proceeds~~of ~~from~~exercises ~~the~~of stock-based awards, $4.9 more of repurchases of common stock, $0.5 more ~~sale~~payments of ~~assets~~finance inlease ~~fiscal~~obligations, ~~2025~~$0.1 ~~compared~~more torepayments ~~fiscal~~of ~~2024~~notes payable and $4.5 less of proceeds received from mortgage.

~~During fiscal 2025, we~~Capital used cash of $270.4 for financing activities compared to $223.5 in fiscal 2024. This change was primarily due to $82.4 more repayments on our revolving credit facilities and $37.0 more repayments on the Term Loan partially offset by $46.7 more proceeds from our revolving credit facilities, $14.5 more proceeds from the exercise of employee stock options, $4.5 proceeds from a mortgage, and $5.8 less preferred stock dividends paid.Expenditures

~~Capital~~Our capital ~~Expenditures~~expenditures in fiscal 2026 were $73.1 compared to $49.8 in fiscal 2025. We expect to make capital expenditures of approximately 3.5% to 4.0% of net sales during fiscal 2027 in connection with our existing business. We funded our fiscal 2026 capital expenditures, and expect to fund fiscal 2027 capital expenditures, principally through existing cash and internally generated funds. We may also make substantial additional capital expenditures in connection with acquisitions.

Our capital expenditures in fiscal 2025 were $49.8 compared to $33.2 in fiscal 2024. We expect to make capital expenditures of approximately 3.0% to 3.5% of net sales during fiscal 2026 in connection with our existing business. We funded our fiscal 2025 capital expenditures, and expect to fund fiscal 2026 capital expenditures, principally through existing cash and internally generated funds. We may also make substantial additional capital expenditures in connection with acquisitions.29

27Critical Accounting Policies and Estimates

~~Critical~~Our discussion ~~Accounting~~and ~~Policies~~analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. We evaluate our estimates on an on-going basis. Estimates are used for, but not limited to, the accounting for the allowance for credit losses, valuation of inventories, goodwill and intangible assets, depreciation and amortization, income taxes and tax reserves, the valuation of options and the valuation of business combinations. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. We believe our judgments related to these accounting estimates are appropriate. Actual results may differ from these estimates under different assumptions or conditions.

~~Our~~Revenue Recognition. ~~discussion~~The ~~and~~performance ~~analysis of~~obligations ~~our~~for ~~financial~~the ~~condition~~majority ~~and~~of ~~results~~RBC’s ofproduct ~~operations~~sales are ~~based~~satisfied ~~upon~~at ~~our~~the ~~consolidated~~point ~~financial~~in ~~statements,~~time ~~which have been prepared~~ in which ~~accordance~~the ~~with~~products ~~U.S.~~are ~~generally accepted accounting principles~~shipped. The ~~preparation~~Company ofhas ~~these~~determined ~~financial statements requires us to make estimates and judgments~~ that ~~affect~~ the ~~reported~~customer ~~amounts~~obtains ofcontrol ~~assets,~~upon ~~liabilities,~~shipment ~~revenues and expenses and related disclosure~~ of ~~contingent~~the ~~assets and~~product ~~liabilities.~~based ~~We evaluate our estimates~~ on anthe ~~on-going~~shipping terms ~~basis~~(i.e. ~~Estimates~~when ~~are~~it ~~used~~ships ~~for,~~from ~~but~~RBC’s ~~not~~dock ~~limited~~or ~~to,~~when the ~~accounting~~product ~~for~~arrives at the ~~allowance for~~customer’s ~~credit~~dock) ~~losses, valuation of inventories, goodwill~~ and ~~intangible~~recognizes ~~assets,~~revenue ~~depreciation and amortization, income taxes and tax reserves,~~when ~~the~~control ~~valuation~~has oftransferred ~~options~~to ~~and~~ the ~~valuation of business combinations~~customer. WeOnce ~~base~~a ~~our~~customer ~~estimates~~has onobtained ~~historical~~control, ~~experience~~the ~~and~~customer onis ~~various~~able ~~other assumptions that are believed~~ to bedirect ~~reasonable under~~ the ~~circumstances~~use of, ~~the~~and ~~results~~obtain substantially all of ~~which form~~ the ~~basis~~remaining ~~for~~benefits ~~making~~from, ~~judgments about~~ the ~~carrying~~asset. ~~values~~Approximately of95% ~~assets~~ and ~~liabilities~~98% ~~that~~of ~~are~~the ~~not~~Company’s ~~readily~~revenue ~~apparent~~was ~~from~~recognized in ~~other~~this ~~sources.~~manner Webased ~~believe~~on ~~our~~sales ~~judgments~~for ~~related~~the tofiscal ~~these accounting~~years ~~estimates~~ended ~~are~~March ~~appropriate.~~28, ~~Actual~~2026 ~~results~~and ~~may~~March ~~differ~~29, ~~from~~2025, ~~these estimates under different assumptions or conditions~~respectively.

~~Revenue Recognition~~Inventory. ~~The~~Inventory ~~performance~~is ~~obligations~~stated ~~for~~at the ~~majority~~lower of ~~RBC’s~~cost ~~product~~or ~~sales~~net ~~are~~realizable ~~satisfied~~value. atCost ~~the~~is ~~point~~determined inby ~~time~~the first-in, ~~which~~first-out ~~the~~method. ~~products~~We ~~are~~account for ~~shipped.~~inventory ~~The~~under ~~Company~~a ~~has~~full ~~determined~~absorption ~~that~~method. ~~the~~We ~~customer~~record ~~obtains~~adjustments ~~control~~to ~~upon~~the ~~shipment~~value of ~~the~~inventory ~~product~~ based onupon ~~the~~past ~~shipping~~sales ~~terms~~history ~~(i.e.~~and ~~when~~forecasted itplans ~~ships~~to ~~from~~sell ~~RBC’s~~our ~~dock~~inventories. orThe ~~when~~physical ~~the~~condition, ~~product~~including ~~arrives~~age atand ~~the~~quality, ~~customer’s~~of ~~dock)~~the ~~and~~inventories ~~recognizes~~is ~~revenue~~also ~~when~~considered ~~control~~in ~~has transferred~~establishing toits ~~the customer~~valuation. ~~Once~~These aadjustments ~~customer~~are ~~has obtained control~~estimates, ~~the~~which ~~customer~~could isvary ~~able~~significantly, toeither ~~direct~~favorably ~~the~~or ~~use of~~unfavorably, ~~and~~from ~~obtain~~actual ~~substantially all of the~~requirements ~~remaining~~if ~~benefits~~future ~~from~~economic conditions, ~~the~~customer ~~asset.~~inventory ~~Approximately~~levels ~~98%~~or ofcompetitive ~~the~~conditions ~~Company’s~~differ ~~revenue~~from ~~was~~our ~~recognized in this manner based on sales for the fiscal years ended March 29, 2025 and March 30, 2024~~expectations.

~~Inventory~~Goodwill and Indefinite-Lived Intangible Assets. ~~Inventory is~~Goodwill ~~stated~~(representing atthe excess of the ~~lower~~amount paid to acquire a company over the estimated fair value of ~~cost~~the net assets acquired) and indefinite-lived intangible assets are not amortized but instead are tested for impairment annually, or ~~net~~when ~~realizable~~events or circumstances indicate that the carrying value of such asset may not be recoverable. ~~Cost~~Separate istests ~~determined~~are byperformed for goodwill and indefinite lived intangible assets. The Company performs the ~~first-in,~~annual ~~first-out~~impairment ~~method~~testing during the fourth quarter of each fiscal year. We ~~account~~completed ~~for~~a ~~inventory~~quantitative test of impairment on the indefinite lived intangible assets with no impairment noted in ~~under~~fiscal ayear ~~full~~2026. ~~absorption~~The ~~method~~determination of any goodwill impairment is made at the reporting unit level. WeThe ~~record~~Company ~~adjustments~~determines the fair value of a reporting unit and compares it to its carrying amount. If the ~~value~~carrying amount of ~~inventory~~the ~~based~~reporting ~~upon~~unit ~~past~~exceeds ~~sales~~its ~~history~~fair ~~and~~value, ~~forecasted~~an ~~plans~~impairment loss tois recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company applies the ~~sell~~income ~~our~~approach ~~inventories~~(discounted cash flow method) in testing goodwill for impairment. The ~~physical~~key ~~condition~~assumptions used in the discounted cash flow method used to estimate fair value include gross margin, ~~including~~discount ~~age~~rate, and ~~quality~~long-term growth rate, which is affected by expectations about future market or economic conditions. The fair value of the ~~inventories~~reporting isunits ~~also~~exceeds ~~considered~~the incarrying ~~establishing~~value ~~its~~by ~~valuation~~a minimum of 38.8% at each of the two reporting units. Assuming no growth ~~These~~in ~~adjustments~~gross ~~are~~margin ~~estimates,~~within ~~which~~the ~~could~~model ~~vary~~would ~~significantly,~~not ~~either~~result ~~favorably~~in orimpairment ~~unfavorably~~of goodwill for any of our reporting units. Although no changes are expected, if ~~from~~the actual ~~requirements~~results ifof ~~future~~the ~~economic conditions~~Company are less favorable than the assumptions the Company makes regarding estimated cash flows, ~~customer~~the ~~inventory~~Company may ~~levels~~be orrequired ~~competitive~~to ~~conditions~~record ~~differ~~an ~~from~~impairment ~~our~~charge ~~expectations~~in the future.

~~Goodwill and Indefinite-Lived~~Valuation ~~Intangible~~of ~~Assets~~Business Combinations. ~~Goodwill~~We ~~(representing~~allocate the ~~excess~~amounts ofwe ~~the~~pay ~~amount~~for ~~paid~~each acquisition to ~~acquire a company over~~ the ~~estimated fair value of the net~~ assets ~~acquired)~~we acquire and ~~indefinite-lived~~liabilities ~~intangible~~we ~~assets~~assume based ~~are~~on ~~not~~their ~~amortized~~estimated ~~but~~fair ~~instead~~values ~~are~~at ~~tested~~the ~~for~~date ~~impairment~~of ~~annually~~acquisition, orincluding ~~when events~~identifiable orintangible ~~circumstances~~assets, ~~indicate~~which ~~that~~either ~~the~~arise ~~carrying~~from ~~value~~a contractual ofor ~~such~~legal ~~asset~~right ~~may~~or ~~not be recoverable. Separate tests~~ are ~~performed~~separable ~~for~~from goodwill ~~and indefinite lived intangible assets~~. ~~The~~We ~~Company~~base ~~performs~~ the ~~annual~~fair ~~impairment~~value ~~testing during the fourth quarter~~ of ~~each~~identifiable ~~fiscal year. We completed a quantitative test of impairment on the indefinite lived~~ intangible assets ~~with~~acquired ~~no impairment noted~~ in ~~fiscal~~a ~~year 2025.~~business ~~The~~combination ~~determination~~on ofdetailed ~~any~~valuations ~~goodwill~~which ~~impairment~~are isprepared ~~made~~with at the ~~reporting~~assistance ~~unit~~of ~~level.~~a ~~The~~specialist ~~Company~~and ~~determines~~consider ~~the~~our ~~fair~~best ~~value~~estimates of ainputs ~~reporting~~and ~~unit~~assumptions ~~and~~that ~~compares~~a itmarket toparticipant ~~its~~would ~~carrying amount~~use. IfWe ~~the~~utilize ~~carrying~~a ~~amount~~specialist offor ~~the~~these ~~reporting~~valuations ~~unit~~due ~~exceeds~~to ~~its~~the ~~fair~~complexity ~~value,~~and anestimation ~~impairment loss is~~uncertainty ~~recognized~~involved ~~for~~in ~~the~~determining ~~amount by which~~ the ~~carrying amount exceeds the reporting unit’s~~ fair value. ~~The~~given ~~Company applies~~ the ~~income~~significant ~~approach (discounted~~assumptions ~~cash flow method) in testing goodwill for impairment~~involved. ~~The~~Significant ~~key~~assumptions ~~assumption~~utilized ~~used~~ in the ~~discounted cash flow method used to estimate~~valuation ~~fair~~models ~~value~~include isdiscount ~~gross margin~~rates, ~~which~~revenue isgrowth ~~affected~~rates byand ~~expectations~~EBITDA ~~about~~margins. ~~future~~We ~~market~~allocate orto ~~economic~~goodwill ~~conditions.~~any ~~The~~excess ~~fair~~purchase ~~value~~price ofover the ~~reporting~~fair ~~units exceeds the carrying~~ value ~~by a minimum~~ of ~~13.8%~~the atnet ~~each~~tangible ofand ~~the~~identifiable ~~two~~intangible ~~reporting~~assets ~~units~~acquired. ~~Assuming~~Transaction nocosts ~~growth~~associated inwith ~~gross~~these ~~margin~~acquisitions ~~within~~are ~~the~~expensed ~~model~~as ~~would~~incurred ~~not~~through ~~result in impairment of goodwill for any of our reporting units. Although no changes are expected~~other, ifnet ~~the~~on ~~actual results of~~ the ~~Company~~consolidated ~~are~~statements ~~less~~of ~~favorable than the assumptions the Company makes regarding estimated cash flows, the Company may be required to record an impairment charge in the future~~operations.

~~Valuation~~Income Taxes. ofAs ~~Business~~part ~~Combinations. We~~of ~~allocate~~ the ~~amounts~~process weof ~~pay~~preparing ~~for each acquisition to~~ the ~~assets~~consolidated wefinancial ~~acquire~~statements, ~~and liabilities~~ we ~~assume~~are ~~based~~required onto ~~their~~estimate ~~estimated~~the ~~fair~~income ~~values~~taxes in ateach ~~the~~jurisdiction ~~date~~in ofwhich ~~acquisition,~~we ~~including~~operate. ~~identifiable~~This ~~intangible~~process ~~assets,~~involves ~~which~~estimating ~~either~~the ~~arise~~actual ~~from~~current atax ~~contractual~~liabilities ortogether ~~legal~~with ~~right~~assessing ortemporary differences ~~are~~resulting ~~separable~~ from ~~goodwill. We base~~ the ~~fair~~differing ~~value~~treatment of ~~identifiable~~items ~~intangible~~for ~~assets~~tax ~~acquired~~and infinancial areporting ~~business~~purposes. ~~combination~~These ondifferences ~~detailed~~result ~~valuations~~in ~~which~~deferred ~~are~~tax ~~prepared~~assets ~~with~~and ~~the~~liabilities, ~~assistance~~which ofare aincluded ~~specialist~~in ~~and~~the ~~consider~~consolidated ~~our~~balance ~~best~~sheets. ~~estimates~~We ofmust ~~inputs~~then ~~and~~assess ~~assumptions~~the likelihood that athe ~~market participant would~~deferred ~~use.~~tax Weassets ~~utilize~~will abe ~~specialist~~recovered, ~~for~~and ~~these~~to ~~valuations~~the ~~due~~extent tothat ~~the~~we ~~complexity~~believe ~~and~~that ~~estimation~~recovery ~~uncertainty~~is ~~involved~~not inmore ~~determining~~than ~~the~~likely, ~~fair~~we ~~value given~~are ~~the~~required ~~significant~~to ~~assumptions~~establish ~~involved~~a valuation allowance. ~~Significant~~If ~~assumptions~~a ~~utilized~~valuation inallowance ~~the~~is ~~valuation~~established ~~models~~or ~~include~~increased ~~discount~~during ~~rates~~any period, ~~revenue~~we ~~growth rates~~are ~~and~~required ~~EBITDA~~to ~~margins.~~include Wethis ~~allocate~~amount toas an ~~goodwill~~expense ~~any~~within ~~excess~~the ~~purchase~~tax ~~price~~provision ~~over~~in the ~~fair~~consolidated ~~value~~statements of ~~the~~operations. ~~net~~Significant ~~tangible~~judgment ~~and~~is ~~identifiable~~required ~~intangible~~in determining our ~~assets~~provision ~~acquired.~~for ~~Transaction~~income ~~costs~~taxes, ~~associated~~deferred ~~with~~tax ~~these~~assets ~~acquisitions~~and ~~are~~liabilities, ~~expensed~~accrual asfor ~~incurred~~uncertain ~~through~~tax ~~other,~~positions ~~net~~and onany ~~the~~valuation ~~consolidated~~allowance recognized ~~statements~~against ofnet ~~operations~~deferred tax assets.

Income Taxes. As part of the process of preparing the consolidated financial statements, we are required to estimate the income taxes in each jurisdiction in which we operate. This process involves estimating the actual current tax liabilities together with assessing temporary differences resulting from the differing treatment of items for tax and financial reporting purposes. These differences result in deferred tax assets and liabilities, which are included in the consolidated balance sheets. We must then assess the likelihood that the deferred tax assets will be recovered, and to the extent that we believe that recovery is not more than likely, we are required to establish a valuation allowance. If a valuation allowance is established or increased during any period, we are required to include this amount as an expense within the tax provision in the consolidated statements of operations. Significant judgment is required in determining our provision for income taxes, deferred tax assets and liabilities, accrual for uncertain tax positions and any valuation allowance recognized against net deferred tax assets.30

28Recent Accounting Pronouncements

~~Recent~~For a ~~Accounting~~discussion ~~Pronouncements~~of recent accounting pronouncements, refer to Note 2.

~~For a discussion of recent~~Off-Balance ~~accounting~~Sheet ~~pronouncements, refer to Note 2.~~Arrangements

~~Off~~The Company has $3.7 of outstanding standby letters of credit, all of which are under the Revolving Credit Facility. We had no significant off-~~Balance~~balance ~~Sheet~~sheet ~~Arrangements~~arrangements as of March 28, 2026.

~~The Company has $3.7 of outstanding~~ITEM ~~standby letters of credit, all of which are under the Revolving Credit Facility~~7A. WeQUANTITATIVE ~~had~~AND noQUALITATIVE ~~significant~~DISCLOSURES ~~off-balance~~ABOUT ~~sheet~~MARKET ~~arrangements as of March 29, 2025.~~RISK

~~ITEM~~We are ~~7A.~~exposed ~~QUANTITATIVE~~to ~~AND~~market ~~QUALITATIVE~~risks ~~DISCLOSURES~~which ~~ABOUT~~arise ~~MARKET~~during ~~RISK~~the normal course of business from changes in interest rates and foreign currency exchange rates.

Interest Rates. We ~~are~~currently ~~exposed~~have variable rate debt outstanding under the Term Loan and the Revolving Credit Facility. We regularly evaluate the impact of interest rate changes on our net income and cash flow and take action to ~~market~~limit ~~risks~~our exposure when appropriate. During the ~~which~~three-year ~~arise~~period ~~during~~prior to December 30, 2025, we utilized the ~~normal~~Interest ~~course~~Rate Swap to fix a portion of ~~business~~the ~~from~~variable ~~changes~~rate ininterest expense associated with the Term Loan, but the Company does not have an interest ~~rates~~rate ~~and~~swap ~~foreign~~in ~~currency~~place ~~exchange~~as ~~rates~~of the date of this Annual Report.

~~Interest Rates. We~~Foreign ~~currently~~Currency ~~have~~Exchange ~~variable rate debt outstanding under the Term Loan Facility~~Rates. WeAs ~~regularly~~an ~~evaluate~~international ~~the~~company, ~~impact of interest rate changes on~~ our ~~net~~operations ~~income~~transact ~~and cash flow and take action to limit our exposure when appropriate. As discussed~~ in ~~“Liquidity and Capital Resources” in Item 7 of this Annual Report, we have utilized~~ the ~~Interest~~following ~~Rate~~foreign ~~Swap to fix a portion of the variable rate interest expense associated with the Term Loan.~~currencies:

~~Foreign~~● ~~Currency~~Australia ~~Exchange Rates.~~– AsAustralian anDollar ~~international~~● ~~company,~~India ~~our~~– ~~operations~~Rupee ~~transact~~● inCanada ~~the~~– ~~following~~Canadian ~~foreign~~Dollar ~~currencies:~~● Mexico – Peso ● China – Chinese Yuan ● Poland – Zloty ● France and Germany – Euro ● Switzerland – Swiss Franc ● England – British Pound

●As a ~~Australia~~result, –we ~~Australian~~are exposed to risk associated with fluctuating currency exchange rates between the U.S. dollar ●and ~~India~~these –currencies. ~~rupee~~Foreign currency ●transaction ~~Canada~~gains –and ~~Canadian~~losses are included in earnings. Approximately 11% of our net sales were impacted by foreign currency fluctuations in fiscal 2026 and fiscal 2025. For those countries outside the U.S. where we have sales, a strengthening in the U.S. dollar ●or ~~Mexico~~devaluation –in ~~peso~~the ●local ~~China~~currency –would ~~Chinese~~reduce ~~yuan~~the ●value ~~Poland~~of –our ~~zloty~~local ●inventory ~~France~~as presented in our consolidated financial statements. In addition, a stronger U.S. dollar or a weaker local currency would result in reduced net sales, operating profit and ~~Germany~~shareholders’ –equity ~~euro~~due ●to ~~Switzerland~~the –impact ~~Swiss~~of ~~franc~~foreign ●exchange ~~England~~translation –on ~~British~~our ~~pound~~consolidated financial statements. The opposite would be true if the U.S. dollar were to get comparatively weaker to those foreign currencies. Fluctuations in foreign currency exchange rates may make our products more expensive or increase our operating costs, affecting our competitiveness and our profitability.

~~As a result, we are exposed~~Changes toin ~~risk associated with fluctuating currency~~ exchange rates between the U.S. dollar and ~~these~~other currencies. ~~Foreign currency transaction gains~~ and ~~losses~~volatile ~~are~~economic, ~~included~~political inand ~~earnings.~~market ~~Approximately~~conditions ~~11% of our net sales were impacted by foreign currency fluctuations~~ in ~~fiscal 2025~~emerging ~~compared to approximately 12% of net sales in fiscal 2024. For those~~ market countries ~~outside the U.S. where we~~ have ~~sales, a strengthening~~ in the ~~U.S.~~past ~~dollar~~adversely oraffected ~~devaluation in the local currency would reduce the value of~~ our ~~local inventory as presented in our consolidated~~ financial ~~statements.~~performance Inand ~~addition,~~may ~~a stronger U.S. dollar or a weaker local currency would result~~ in ~~reduced~~the ~~net~~future ~~sales,~~adversely ~~operating~~affect ~~profit and shareholders’ equity due to~~ the ~~impact~~value of ~~foreign exchange translation on~~ our ~~consolidated~~assets located ~~financial~~outside ~~statements. The opposite would be true if~~ the ~~U.S.~~United ~~dollar~~States ~~were~~and ~~to get comparatively weaker to those foreign currencies. Fluctuations in foreign currency exchange rates may make~~ our ~~products~~results ~~more~~of ~~expensive or increase our operating costs, affecting our competitiveness and our profitability~~operations.

~~Changes in exchange rates~~We ~~between~~periodically ~~the~~enter ~~U.S.~~into ~~dollar~~derivative ~~and~~financial ~~other~~instruments ~~currencies~~to ~~and~~reduce ~~volatile~~the ~~economic,~~effect ~~political~~of ~~and~~fluctuations ~~market~~in ~~conditions~~exchange inrates ~~emerging~~on ~~market~~transactions ~~countries~~and ~~have~~account inbalances ~~the~~denominated ~~past~~in ~~adversely~~non-functional ~~affected~~currencies. ~~our~~As ~~financial~~of ~~performance~~March ~~and~~28, ~~may~~2026, in the ~~future~~Company ~~adversely~~had ~~affect~~ the ~~value~~Cross ofCurrency ~~our~~Swap, ~~assets~~which ~~located~~is ~~outside~~discussed ~~the~~in ~~United~~“Liquidity ~~States~~ and ~~our~~Capital ~~results~~Resources” in Item 7 of ~~operations~~this Annual Report.

We periodically enter into derivative financial instruments to reduce the effect of fluctuations in exchange rates on transactions and account balances denominated in non-functional currencies. As of March 29, 2025, the Company had the Cross Currency Swap, which is discussed in “Liquidity and Capital Resources” in Item 7 of this Annual Report.31

29ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

~~ITEM~~Report of 8.Independent ~~FINANCIAL~~Registered ~~STATEMENTS~~Public ~~AND~~Accounting ~~SUPPLEMENTARY DATA~~Firm

~~Report~~To the Stockholders and the Board of ~~Independent~~Directors ~~Registered~~of ~~Public~~RBC ~~Accounting Firm~~Bearings Incorporated

ToOpinion on the ~~Stockholders~~Financial ~~and the Board of Directors of RBC Bearings Incorporated~~Statements

~~Opinion~~We have onaudited the ~~Financial~~accompanying ~~Statements~~consolidated balance sheets of RBC Bearings Incorporated (the Company) as of March 28, 2026 and March 29, 2025, the related consolidated statements of operations, comprehensive income, stockholders’ equity and cash flows for each of the three years in the period ended March 28, 2026, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at March 28, 2026 and March 29, 2025, and the results of its operations and its cash flows for each of the three years in the period ended March 28, 2026, in conformity with U.S. generally accepted accounting principles.

We also have audited ~~the accompanying consolidated balance sheets of RBC Bearings Incorporated (the Company) as of March 29~~, ~~2025~~in ~~and~~accordance ~~March~~with ~~30, 2024,~~ the ~~related~~standards ~~consolidated statements~~ of ~~operations, comprehensive income, stockholders’ equity and cash flows for each of~~ the ~~three~~Public ~~years~~Company inAccounting ~~the~~Oversight ~~period~~Board ~~ended March 29, 2025, and the related notes~~ (~~collectively~~United ~~referred to as the “consolidated financial statements”~~States). ~~In our opinion~~(PCAOB), the ~~consolidated~~Company’s ~~financial~~internal ~~statements~~control ~~present~~over ~~fairly, in all material respects, the~~ financial ~~position~~reporting as of ~~the Company at~~ March 2928, ~~2025 and March 30~~2026, ~~2024, and~~based ~~the~~on ~~results~~criteria ofestablished ~~its~~in ~~operations~~Internal ~~and~~Control—Integrated Framework ~~its~~issued ~~cash~~by ~~flows~~the ~~for~~Committee ~~each~~ of ~~the~~Sponsoring ~~three~~Organizations ~~years~~of in the ~~period~~Treadway ~~ended~~Commission ~~March~~(2013 29framework), ~~2025,~~and inour ~~conformity~~report ~~with~~dated May 15, ~~U.S.~~2026 ~~generally~~expressed ~~accepted~~an ~~accounting~~unqualified ~~principles~~opinion thereon.

~~We also have audited, in accordance with the standards~~Basis offor the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of March 29, 2025, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated May 16, 2025 expressed an unqualified opinion thereon.Opinion

~~Basis~~These financial ~~for~~statements ~~Opinion~~are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

~~These~~We conducted ~~financial~~our ~~statements~~audits ~~are~~in accordance with the ~~responsibility~~ standards of the ~~Company’s management~~PCAOB. ~~Our~~Those ~~responsibility~~standards isrequire tothat ~~express~~we anplan ~~opinion~~and onperform the ~~Company’s~~audit to obtain reasonable assurance about whether the financial statements ~~based~~are onfree ~~our~~of ~~audits~~material misstatement, whether due to error or fraud. Our audits Weincluded ~~are~~performing aprocedures ~~public~~to ~~accounting~~assess ~~firm~~the ~~registered~~risks ~~with~~of material misstatement of the ~~PCAOB~~financial ~~and~~statements, ~~are~~whether ~~required~~due to beerror ~~independent~~or ~~with~~fraud, and ~~respect~~performing procedures that respond to ~~the~~those ~~Company~~risks. inSuch ~~accordance~~procedures included examining, on a test basis, evidence regarding the amounts ~~with~~and disclosures in the Ufinancial statements.S. ~~federal~~Our ~~securities~~audits ~~laws~~also ~~and~~included evaluating the ~~applicable~~accounting ~~rules~~principles used and ~~regulations~~significant estimates made by management, as well as evaluating the overall presentation of the ~~Securities~~financial ~~and~~statements. ~~Exchange~~We ~~Commission~~believe ~~and~~that ~~the~~our ~~PCAOB~~audits provide a reasonable basis for our opinion.

~~We conducted our audits in accordance with the~~Critical ~~standards~~Audit ofMatters the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

~~Critical~~The critical ~~Audit~~audit ~~Matter~~matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the account or disclosures to which it relates.32

		*Business Combination*

Description of the Matter		As described in Notes 2 and 21 to the consolidated financial statements, the Company completed the acquisition of VACCO Industries in July 2025 for consideration of $276.7 million. This acquisition has been accounted for as a business combination. Auditing the Company’s accounting for the acquisition was complex due to the judgmental nature and effect of the discount rate used in the determination of the estimated fair value of the customer relationship intangible assets.

How We Addressed the Matter in Our Audit		We obtained an understanding, evaluated the design and tested the operating effectiveness of the controls over the Company’s accounting for business combinations, including the control over management’s development and review of the discount rate. To test the estimated fair value of the customer relationship intangible assets, we performed audit procedures, with the assistance of internal valuation specialists, that included, among others, assessing methodologies and testing the discount rate. We performed a sensitivity analysis of the discount rate to evaluate the changes in the fair value of the customer relationship intangible assets that would result from changes in the assumption. We also evaluated the reasonableness of the selected guideline companies used in the determination of the discount rate.

		Valuation of Goodwill – Industrial Reporting Unit
		Revenue Recognition
Description of the Matter		AtThe ~~March 29, 2025, the~~ Company’s ~~goodwill~~revenue was $1,~~872~~870.9 million, ~~which~~for isthe ~~allocated~~year ~~primarily~~ended toMarch ~~the~~28, ~~Industrial reporting unit~~2026. As ~~discussed~~explained in Notes 2 and 93 ofto the consolidated financial statements, ~~goodwill~~revenue is ~~tested~~recognized ~~for~~in ~~impairment~~an atamount ~~least~~that ~~annually~~reflects at the ~~reporting~~consideration ~~unit level. As of February 22, 2025,~~ the Company’s ~~measurement~~expects ~~date,~~to ~~the~~be ~~Company~~entitled ~~determined~~to ~~that~~in ~~the~~exchange ~~fair~~for ~~value~~transferred ofgoods ~~the~~or ~~reporting~~services. ~~unit~~The ~~exceeded~~majority ~~its~~of ~~carrying~~revenue ~~value~~is ~~and~~recognized ~~therefore~~at noa ~~impairment~~point ~~was~~in ~~recognized~~time. ~~Auditing~~The ~~management’s~~principal ~~annual~~consideration ~~goodwill~~for ~~impairment~~determining ~~test~~our ~~was~~procedures ~~complex~~related ~~and~~to ~~judgmental~~revenue ~~due~~recognition tois ~~the~~a ~~significant~~critical ~~estimations~~audit ~~required~~matter tois ~~determine~~ the ~~fair~~extensive ~~value~~audit ofeffort ~~the~~in ~~reporting~~planning ~~unit.~~and Inperforming ~~particular,~~procedures ~~the~~related ~~determination~~to of the ~~fair~~Company’s ~~value~~revenue ~~required~~due ~~management~~ to ~~make~~the ~~significant~~disaggregated ~~assumptions,~~nature ~~including~~of ~~gross~~the ~~margin,~~Company’s ~~which is affected by expectations about future market or economic conditions~~operations.
How We Addressed the Matter in Our Audit		We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the ~~Company’s~~revenue ~~goodwill~~process. ~~impairment~~For ~~review process~~example, ~~including~~we ~~controls~~tested ~~over~~ management’s ~~review~~controls ofrelating to the ~~significant~~timing ~~assumptions~~of ~~described~~revenue ~~above~~recognition. ToWe ~~test~~applied auditor judgment to determine the ~~estimated~~nature ~~fair~~and ~~value,~~extent weof procedures to be performed ~~audit~~over ~~procedures~~revenue recognition, ~~with~~including ~~the~~determining ~~assistance~~where ofwe ~~our~~would ~~valuation~~perform ~~specialists,~~procedures. ~~that~~Our procedures included, among others, (i) assessing the ~~methodologies~~completeness, ~~utilized~~accuracy, and ~~testing~~existence ~~the~~of ~~significant~~revenue ~~assumptions~~recognized ~~discussed~~by ~~above~~testing ~~and~~ the ~~underlying~~correlation ~~data~~of ~~used~~revenue byto ~~the~~accounts ~~Company~~receivable inand ~~its~~cash, ~~analysis.~~(ii) Wetesting ~~compared~~revenue ~~the~~recognized ~~significant~~for ~~assumptions~~a ~~used~~sample byof ~~management~~revenue totransactions ~~current~~during ~~industry~~the ~~and~~year ~~economic~~as ~~trends.~~well Weas ~~assessed~~before ~~the~~and ~~historical~~after ~~accuracy~~period ofend ~~management’s~~by ~~estimates~~obtaining and ~~performed~~inspecting ~~sensitivity~~source ~~analyses~~documents, ofsuch ~~significant~~as ~~assumptions~~purchase toorders, ~~evaluate~~invoices ~~changes~~and inproof ~~fair~~of ~~value~~shipment ~~that~~or ~~would~~delivery ~~result~~and ~~from~~(iii) ~~changes~~confirming ina ~~the~~sample ~~underlying~~of ~~assumptions.~~outstanding Incustomer ~~addition~~invoice balances, weand ~~evaluated~~for ~~the~~confirmations ~~reconciliation~~not ofreturned, ~~the~~obtaining ~~fair~~and ~~value~~inspecting ofsource ~~the~~documents, ~~reporting~~including ~~unit~~invoices, toproof ~~the~~of ~~market~~shipment, ~~capitalization~~and ofsubsequent ~~the~~cash ~~Company~~receipts, where applicable.

/s/ ~~Ernst~~ Ernst & Young LLP

We have served as the Company’s auditor since 2002.

Hartford, Connecticut

May 16 15, ~~2025~~2026

3133

RBC Bearings Incorporated

Consolidated Balance Sheets

(amounts in millions, except share and per share data)

	March 29, 2025			March 30, 2024
	March 28, 2026			March 29, 2025
ASSETS
Current assets:
Cash	$	3657.83		$	6336.58
Accounts receivable, net of allowance for credit losses of $5.4 at March 29, 2025 and $4.4 at March 30, 2024		307.6			255.2
Accounts receivable, net of allowance for credit losses of $6.3 at March 28, 2026 and $5.4 at March 29, 2025		340.6			307.6
Inventory		654.5			622.8
Inventory, net		762.8			654.5
Prepaid expenses and other current assets		2829.41			2428.04
Total current assets		1,~~027~~189.38			~~965~~1,027.53
Property, plant and equipment, net		~~359~~419.0			~~361~~359.0
Operating lease assets		5868.67			4158.46
Goodwill		12,~~872~~003.24			1,~~874~~872.92
Intangible assets, net		1,~~325~~378.12			1,~~391~~325.91
Other noncurrent assets		4363.06			43.90
Total assets	$	45,~~685~~122.27		$	4,~~678~~685.62
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	~~138~~147.40		$	~~116~~138.24
Accrued expenses and other current liabilities		~~166~~214.07			~~167~~166.30
Current operating lease liabilities		910.27			79.02
Current portion of long-term debt		1173.78			31.87
Total current liabilities		~~315~~546.32			~~294~~315.3
Long-term debt, less current portion		~~918~~701.47			~~1,188~~918.14
Noncurrent operating lease liabilities		5059.30			3550.3
Deferred income taxes		~~257~~267.83			~~284~~257.28
Other noncurrent liabilities		~~112~~187.05			~~124~~112.80
Total liabilities		1,~~653~~761.87			1,~~926~~653.78
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 as of March 29, 2025 and March 30, 2024, respectively; issued shares: 0 and 4,600,000 as of March 29, 2025 and March 30, 2024, respectively		—			0.0
Preferred stock, $.01 par value per share; authorized shares: 10,000,000 as of March 28, 2026 and March 29, 2025; issued shares: 0 as of March 28, 2026 and March 29, 2025		—			—
Common stock, $.01 par value; authorized shares: 60,000,000 at March 29, 2025 and March 30, 2024, respectively; issued shares: 32,522,189 and 30,227,444 at March 29, 2025 and March 30, 2024, respectively		0.3			0.3
Common stock, $.01 par value per share; authorized shares: 60,000,000 at March 28, 2026 and March 29, 2025; issued shares: 32,720,037 and 32,522,189 at March 28, 2026 and March 29, 2025, respectively		0.3			0.3
Additional paid-in capital		1,~~682~~735.54			1,~~625~~682.25
Accumulated other comprehensive income/(loss)		(12.41	)		0(1.74	)
Retained earnings		1,~~450~~738.62			1,~~216~~450.86
Treasury stock, at cost, 1,046,569 shares and 1,015,053 shares at March 29, 2025 and March 30, 2024, respectively		(100.6	)		(91.1	)
Treasury stock, at cost, 1,084,772 shares and 1,046,569 shares at March 28, 2026 and March 29, 2025, respectively		(115.0	)		(100.6	)
Total stockholders’ equity		3,~~031~~361.40			23,~~751~~031.94
Total liabilities and stockholders’ equity	$	45,~~685~~122.27		$	4,~~678~~685.62

See accompanying notes.

3234

RBC Bearings Incorporated

Consolidated Statements of Operations

(amounts in millions, except share and per share data)

Fiscal Year Ended

March 29, 2025

March 30, 2024

April 1, 2023

March 28, 2026

March 29, 2025

March 30, 2024

Net sales

1,~~636~~870.39

1,~~560~~636.3

1,~~469~~560.3

Cost of sales

~~910~~1,040.27

~~889~~910.82

~~864~~889.58

Gross margin

~~726~~830.12

~~670~~726.51

~~604~~670.85

Operating expenses:

Selling, general and administrative

~~279~~316.31

~~253~~279.53

~~229~~253.75

Other, net

7693.91

7476.89

8274.18

Total operating expenses

~~356~~409.2

~~328~~356.32

~~311~~328.83

Operating income

~~369~~421.90

~~342~~369.29

~~293~~342.02

Interest expense, net

5949.8

7859.78

7678.7

Other non-operating expense/(income)

(1.89

)

(1.78

)

61.67

Income before income taxes

~~311~~369.93

~~261~~311.89

~~209~~261.78

Provision for income taxes

6581.7

5165.97

4351.09

Net income

~~246~~287.26

~~209~~246.92

~~166~~209.79

Preferred stock dividends

~~12.4~~—

2312.04

2223.90

Net income attributable to common stockholders

~~233~~287.86

~~186~~233.98

~~143~~186.89

Net income per common share attributable to common stockholders:

Basic

79.7614

67.4776

56.0047

Diluted

79.7009

67.4170

46.9441

Weighted average common shares:

Basic

3031,~~136~~481,~~501~~360

2830,~~917~~136,~~008~~501

28,~~764~~917,~~092~~008

Diluted

3031,~~354~~634,~~470~~888

2930,~~189~~354,~~056~~470

29,~~072~~189,~~429~~056

See accompanying notes.

3335

RBC Bearings Incorporated

Consolidated Statements of Comprehensive Income

(amounts in millions)

	Fiscal Year Ended
	March 29, 2025			March 30, 2024			April 1, 2023
	March 28, 2026			March 29, 2025			March 30, 2024
Net income	$	~~246~~287.26		$	~~209~~246.92		$	~~166~~209.79
Pension and postretirement liability adjustments, net of taxes (1)		2.4			0.4			9.4
Pension and postretirement liability adjustments(1)		(1.3	)		2.4			0.4
Change in fair value of Interest Rate Swap(2)		(10.42	)		3(1.4	)		(23.24	)
Change in fair value of Cross Currency Swap(3)		(05.28	)		—(0.2	)		—
Foreign currency translation adjustments		(210.94	)		1(2.09	)		(51.50	)
Total comprehensive income	$	~~244~~291.1		$	~~214~~244.71		$	~~168~~214.47

(1) These adjustments were net of tax ~~expense~~benefit of $0.64, tax expense of $0.46 and tax expense of $2.0.4 in fiscal ~~2025~~2026, ~~2024~~2025 and ~~2023~~2024, respectively.

(2) ~~These~~Net ~~adjustments were net~~ of tax ~~benefit~~expense of $0.40, tax ~~expense~~benefit of $1.0.4 and tax ~~benefit~~expense of $01.60 in fiscal ~~2025~~2026, ~~2024~~2025 and ~~2023~~2024, respectively.

(3) ~~This~~Net ~~adjustment~~of ~~was~~tax benefit of $1.7 and net of tax benefit of $0.0 for fiscal 2026 and 2025, respectively.

See accompanying notes.

3436

RBC Bearings Incorporated

Consolidated Statements of Stockholders’ Equity

(amounts in millions, except share data)

	Common Stock				Preferred Stock						Additional Paid-in		Accumulated Other Comprehensive			Retained			Treasury Stock						Total Stockholders’
	Shares		Amount		Shares			Amount			Capital		Income/(Loss)			Earnings			Shares			Amount			Equity
Balance at April 2, 2022		29,807,208	$	0.3		4,600,000		$	0.0		$	1,564.3	$	(5.8	)	$	886.1			(928,322	)	$	(72.4	)	$	2,372.5
Net income		—		—		—			—			—		—			166.7			—			—			166.7
Stock-based compensation		—		—		—			—			14.0		—			—			—			—			14.0
Preferred stock dividends		—		—		—			—			—		—			(22.9	)		—			—			(22.9	)
Tax withholding for common stock issued under equity incentive plans		—		—		—			—			—		—			—			(38,076	)		(7.7	)		(7.7	)
Exercise of equity awards		116,563		0.0		—			—			11.6		—			—			—			—			11.6
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $2.0		—		—		—			—			—		9.4			—			—			—			9.4
Issuance of restricted stock, net of forfeitures		66,177		—		—			—			—		—			—			—			—			—
Change in fair value of Interest Rate Swap, net of tax benefit of $0.6		—		—		—			—			—		(2.2	)		—			—			—			(2.2	)
Currency translation adjustments		—		—		—			—			—		(5.5	)		—			—			—			(5.5	)
Balance at April 1, 2023		29,989,948	$	0.3		4,600,000		$	0.0		$	1,589.9	$	(4.1	)	$	1,029.9			(966,398	)	$	(80.1	)	$	2,535.9
Net income		—		—		—			—			—		—			209.9			—			—			209.9
Stock-based compensation		—		—		—			—			14.9		—			—			—			—			14.9
Preferred stock dividends		—		—		—			—			—		—			(23.0	)		—			—			(23.0	)
Tax withholding for common stock issued under equity incentive plans		—		—		—			—			—		—			—			(48,655	)		(11.0	)		(11.0	)
Exercise of equity awards		168,321		0.0		—			—			20.4		—			—			—			—			20.4
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.4		—		—		—			—			—		0.4			—			—			—			0.4
Issuance of restricted stock, net of forfeitures		69,175		—		—			—			—		—			—			—			—			—
Change in fair value of Interest Rate Swap, net of tax expense of $1.0		—		—		—			—			—		3.4			—			—			—			3.4
Currency translation adjustments		—		—		—			—			—		1.0			—			—			—			1.0
Balance at March 30, 2024		30,227,444	$	0.3		4,600,000		$	0.0		$	1,625.2	$	0.7		$	1,216.8			(1,015,053	)	$	(91.1	)	$	2,751.9
Net income		—		—		—			—			—		—			246.2			—			—			246.2
Stock-based compensation		—		—		—			—			22.0		—			—			—			—			22.0
Preferred stock dividends		—		—		—			—			—		—			(12.4	)		—			—			(12.4	)
Tax withholding for common stock issued under equity incentive plans		—		—		—			—			—		—			—			(31,516	)		(9.5	)		(9.5	)
Conversion of mandatory convertible preferred stock to common stock		2,029,955		—		(4,600,000	)		(0.0	)		—		—			—			—			—			(0.0	)
Exercise of equity awards		223,693		0.0		—			—			34.9		—			—			—			—			34.9
Change in pension and post-retirement plan benefit adjustments, net of tax expense of $0.6		—		—		—			—			—		2.4			—			—			—			2.4
Issuance of restricted stock, net of forfeitures		41,097		—		—			—			0.4		—			—			—			—			0.4
Change in fair value of Interest Rate Swap, net of tax benefit of $0.4		—		—		—			—			—		(1.4	)		—			—			—			(1.4	)
Change in fair value of Cross Currency Swap, net of tax benefit of $0.0		—		—		—			—			—		(0.2	)		—			—			—			(0.2	)
Currency translation adjustments		—		—		—			—			—		(2.9	)		—			—			—			(2.9	)
Balance at March 29, 2025		32,522,189	$	0.3		—			—		$	1,682.5	$	(1.4	)	$	1,450.6			(1,046,569	)	$	(100.6	)	$	3,031.4
Net income		—		—		—			—			—		—			287.6			—			—			287.6
Stock-based compensation		—		—		—			—			23.7		—			—			—			—			23.7
Tax withholding for common stock issued under equity incentive plans		—		—		—			—			—		—			—			(38,203	)		(14.4	)		(14.4	)
Exercise of equity awards		143,994		0.0		—			—			24.2		—			—			—			—			24.2
Change in pension and post-retirement plan benefit adjustments, net of tax benefit of $0.4		—		—		—			—			—		(1.3	)		—			—			—			(1.3	)
Issuance of restricted stock, net of forfeitures		20,515		—		—			—			—		—			—			—			—			—
Issuance of awards previously classified as liability awards		33,339		—		—			—			5.0		—			—			—			—			5.0
Change in fair value of Interest Rate Swap, net of tax expense of $0.0		—		—		—			—			—		0.2			—			—			—			0.2
Change in fair value of Cross Currency Swap, net of tax benefit of $1.7		—		—		—			—			—		(5.8	)		—			—			—			(5.8	)
Currency translation adjustments		—		—		—			—			—		10.4			—			—			—			10.4
Balance at March 28, 2026		32,720,037	$	0.3		—			—		$	1,735.4	$	2.1		$	1,738.2			(1,084,772	)	$	(115.0	)	$	3,361.0

See accompanying notes.

3537

RBC Bearings Incorporated

Consolidated Statements of Cash Flows

(amounts in millions)

	Fiscal Year Ended
	March 29, 2025			March 30, 2024			April 1, 2023
	March 28, 2026			March 29, 2025			March 30, 2024
Cash flows from operating activities:
Net income	$	~~246~~287.26		$	~~209~~246.92		$	~~166~~209.79
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		~~120~~128.08			~~119~~120.30			~~115~~119.43
Deferred income taxes		~~(26~~10.89	)		(1226.38	)		(2112.43	)
Amortization of deferred financing costs		23.40			32.04			73.20
Stock-based compensation		2834.45			1728.4			1417.04
Noncash operating lease expense		67.32			6.83			76.28
Loss on disposition of assets		0.46			0.64			0.36
Consolidation, restructuring and other noncash charges		0.5			2.6			2.3
Restructuring and other noncash charges		3.0			0.5			2.6
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(5319.34	)		(1353.43	)		7(13.84	)
Inventory		(3243.37	)		(3132.63	)		(7131.76	)
Prepaid expenses and other current assets		(310.95	)		(23.49	)		(52.84	)
Other noncurrent assets		0(16.57	)		~~(3.~~0.5	)		(03.80	)
Accounts payable		221.24			~~(30~~22.72	)		(1130.17	)
Accrued expenses and other current liabilities		(216.34	)		9(2.03	)		69.0
Other noncurrent liabilities		~~(14~~24.74	)		(014.57	)		4(0.5	)
Net cash provided by operating activities		~~293~~415.67			~~274~~293.76			~~220~~274.67
Cash flows from investing activities:
Capital expenditures		(4973.81	)		(3349.28	)		(4233.02	)
Proceeds from sale of assets		0.01			0.30			0.53
Acquisition of businesses/purchase price adjustments for acquisition		—			(19.3	)		27.5
Acquisition of businesses		(276.7	)		—			(19.3	)
Net cash used in investing activities		(49349.87	)		(5249.28	)		(1452.02	)
Cash flows from financing activities:
Proceeds received from revolving credit facilities		67200.0			2067.30			—20.3
Finance fees paid in connection with credit facilities and senior notes		—			—			(0.1	)
Repayments of revolving credit facilities		(5.0	)		(82.4	)		—
Repayments of revolving credit facilities		(82.4	)		—			—
Repayments of term loans		(240.0	)		(262.0	)		(225.0	)
Repayments of term loans		(262.0	)		(225.0	)		(300.0	)
Repayments of notes payable		(1.7	)		(1.6	)		(1.6	)
Repayments of notes payable		(1.6	)		(1.6	)		(0.5	)
Finance fees paid in connection with credit facilities		(1.8	)		—			—
Proceeds from mortgage		~~4.5~~—			—4.5			—
Principal payments on finance lease obligations		(4.16	)		(34.61	)		(3.26	)
Preferred stock dividends paid		~~(17.2~~—	)		(2317.02	)		(2223.90	)
Exercise of stock options		34.9			20.4			11.6
Exercise of equity awards		24.2			34.9			20.4
Repurchase of common stock		(9.5	)		(11.0	)		(7.7	)
Tax withholding for common stock issued under equity incentive plans		(14.4	)		(9.5	)		(11.0	)
Net cash used in financing activities		(~~270~~43.43	)		(~~223~~270.54	)		(~~322~~223.85	)
Effect of exchange rate changes on cash		(02.12	)		(0.91	)		(10.39	)
Cash:
Increase/(decrease) during the year		~~(26~~20.75	)		(126.97	)		(~~117~~1.59	)
Cash, at beginning of year		6336.58			6563.45			~~182~~65.94
Cash, at end of year	$	3657.83		$	6336.58		$	6563.45
Supplemental disclosures of cash flow information:
Cash paid for:
Income taxes	$	~~101~~71.36		$	56101.43		$	6056.4
Interest		5548.4			7555.74			6975.97

See accompanying notes.

3638

RBC Bearings Incorporated

Notes to Consolidated Financial Statements

(amounts in millions, except share and per share data)

1. ~~Organization~~ Organization and Business

RBC Bearings Incorporated, together with its subsidiaries, is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems for the ~~aerospace,~~Industrial ~~defense~~ and ~~industrial~~Aerospace ~~industries~~& Defense markets, which are integral to the manufacture and operation of most machines, aircraft and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction and control pressure and flow. The terms “we,” “us,” “our,” “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. While we manufacture products in all major categories, we focus primarily on highly technical or regulated bearing products and engineered products for specialized markets that require sophisticated design, testing and manufacturing capabilities. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. Over the past 2021 years, we have broadened our end markets, products, customer base and geographic reach. We currently have 5465 facilities in 11 countries, of which 38 44 are manufacturing facilities.

The Company operates in two reportable business segments—~~aerospace/defense~~ Industrial and ~~industrial~~Aerospace & Defense —in which it manufactures ~~roller~~highly ~~bearing~~engineered ~~components~~precision ~~and~~bearings, ~~assembled parts~~components and ~~designs~~essential ~~and manufactures high-precision roller and ball bearings~~systems. The Company sells to a wide variety of original equipment manufacturers (“OEMs”) and distributors who are widely dispersed geographically. No one customer accounted for more than 1813% of the Company’s net sales in fiscal ~~2025~~2026, 1718% of net sales in fiscal ~~2024~~2025 and 1617% of net sales in fiscal ~~2023~~2024. The Company’s segments are further discussed in Note 19.

2. ~~Summary~~ Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of RBC Bearings Incorporated and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The Company has a fiscal year consisting of 52 or 53 weeks, ending on the Saturday closest to March 31. Based on this policy, fiscal year ~~2025~~2026 contained 52 weeks, fiscal year ~~2024~~2025 contained 52 weeks and fiscal year ~~2023~~2024 contained 52 weeks.

End market and channel sales within our segments are based on internal definitions and metrics considered by management and are periodically reviewed and updated prospectively. Certain amounts reported in previous years have been reclassified to conform to the fiscal year ~~2025~~ 2026 presentation.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used for, but not limited to, the accounting for the allowance for credit losses, valuation of inventories, goodwill and intangible assets, depreciation and amortization, income taxes and tax reserves, purchase price allocation for acquired assets and liabilities, and the valuation of options.

Revenue Recognition

A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance, and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. LTAs are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes.

When the Company accepts or acknowledges a customer purchase order, the type of good or service is defined on a line-by-line basis. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work.

Transaction price reflects the amount of consideration that the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. The Company generally sells products and services with observable standalone selling prices.39

37Transaction price reflects the amount of consideration that the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. The Company generally sells products and services with observable standalone selling prices.

The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped. The Company has determined that the customer obtains control upon shipment of the product based on the shipping terms (i.e. when it ships from RBC’s dock or when the product arrives at the customer’s dock) and recognizes revenue when control has transferred to the customer. Once a customer has obtained control, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset.

The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined revenue recognition over time is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Revenue recognition over time is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. ~~These types of contracts comprised less than 1% of total sales for the fiscal years ended March 29, 2025, March 30, 2024 and April 1, 2023, respectively.~~ For both of these types of contracts, revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time revenue recognition contracts as the Company believes this measure best depicts the transfer of control to the customer, which occurs as the Company incurs costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs.

Contract costs are the incremental costs of obtaining and fulfilling a contract (i.e., costs that would not have been incurred if the contract had not been obtained) to provide goods and services to customers. Contract costs largely consist of design and development costs for molds, dies and other tools that RBC will own and that will be used in producing the products under the supply arrangements. These contract costs are amortized to expense on a systematic and rational basis over a period consistent with the transfer to the customer of the goods or services to which the asset relates and are recorded in cost of sales. Costs incurred to obtain a contract are primarily related to sales commissions and are expensed as incurred. These costs are included within selling, general and administrative costs on the consolidated statements of operations.

In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the estimated shipping and handling costs are accrued.

~~Government Assistance~~Cash

~~Like other companies involved~~The inCompany ~~the~~maintains ~~aerospace~~its ~~industry~~cash ~~that~~accounts ~~were~~with ~~impacted~~various byglobal ~~the~~institutions ~~COVID-19~~and ~~pandemic,~~has ~~the~~not ~~Company~~experienced ~~took~~any ~~part~~losses in ~~the~~such ~~Aviation Manufacturing Jobs Protection (“AMJP”) program~~accounts. The ~~AMJP program provided funding to eligible businesses to pay a portion of their compensation costs for~~Company ~~certain~~performs ~~categories~~periodic ofevaluations ~~employees for a period~~ of ~~time~~the asrelative ~~part~~credit ofstanding ~~a U.S. Department~~ of ~~Transportation~~its ~~program~~financial ~~designed~~institutions ~~to maintain jobs in the aviation industry. During the fiscal years ended March 29, 2025, March 30, 2024~~ and ~~April~~monitors ~~1, 2023,~~ the ~~Company~~amount ~~recorded grant revenue~~ of $0exposure.0, $0.0 and $3.1, respectively, all of which was recorded within cost of sales on the consolidated statements of operations. The Company does not expect to receive any future grant revenue associated with the AMJP program.

~~Cash~~Accounts Receivable, Net and Concentration of Credit Risk

Accounts receivable include amounts billed and currently due from customers. The amounts due are stated at their estimated net realizable value. The Company maintains an allowance for credit losses for estimated losses resulting from the inability of its customers to make required ~~cash~~payments. ~~accounts~~The ~~with~~Company ~~various~~uses ~~global~~an ~~institutions~~expected ~~and~~credit ~~has~~loss ~~not~~model ~~experienced~~to ~~any~~estimate the credit losses inexpected ~~such~~over ~~accounts~~the life of an exposure (or pool of exposures). The ~~Company~~estimate ~~performs~~of ~~periodic~~expected ~~evaluations~~credit losses considers historical information, current information and reasonable and supportable forecasts, including estimates of ~~the~~prepayments. ~~relative~~Financial instruments with similar risk characteristics are grouped together when estimating expected credit ~~standing~~losses. ofThe ~~its~~Company ~~financial~~will ~~institutions~~write off accounts receivable after reasonable collection efforts have been made and ~~monitors~~ the ~~amount~~accounts are ofdeemed ~~exposure~~uncollectible.

~~Accounts~~The Company ~~Receivable,~~sells ~~Net~~to a large number of OEMs and ~~Concentration~~distributors who service the aftermarket. The Company’s credit risk associated with accounts receivable is minimized due to its customer base and wide geographic dispersion. The Company performs ongoing credit evaluations of ~~Credit~~its ~~Risk~~customers’ financial condition and generally does not require collateral or charge interest on outstanding amounts. The Company had concentrations of credit risk with no individual customer greater than 10% as of March 28, 2026 or March 29, 2025 with the exception of Motion Industries and Boeing. Approximately 23% and 22% of accounts receivable at March 28, 2026 and March 29, 2025, respectively, were attributable to Motion Industries and Boeing.

Accounts receivable include amounts billed and currently due from customers. The amounts due are stated at their estimated net realizable value. The Company maintains an allowance for credit losses for estimated losses resulting from the inability of its customers to make required payments. The Company uses an expected credit loss model to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses considers historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics are grouped together when estimating expected credit losses. The Company will write off accounts receivable after reasonable collection efforts have been made and the accounts are deemed uncollectible.40

38Inventory

~~The~~Inventory is ~~Company~~stated ~~sells~~at tothe alower ~~large number~~ of ~~OEMs and~~cost ~~distributors~~or ~~who~~net ~~service~~realizable ~~the aftermarket~~value. ~~The~~Cost ~~Company’s~~is ~~credit~~determined ~~risk~~by ~~associated~~the ~~with~~first-in, ~~accounts~~first-out ~~receivable is~~method. ~~minimized~~The ~~due~~Company toaccounts ~~its~~for inventory ~~customer~~under ~~base~~a ~~and~~full ~~wide~~absorption ~~geographic~~method, ~~dispersion.~~and ~~The~~records ~~Company~~adjustments ~~performs~~to ~~ongoing~~the ~~credit~~value ~~evaluations~~ of ~~its~~inventory ~~customers’ financial~~based ~~condition~~upon ~~and~~past ~~generally~~sales ~~does~~history ~~not~~and ~~require~~forecasted plans ~~collateral~~to orsell ~~charge~~our ~~interest~~inventories. onThe ~~outstanding~~physical ~~amounts.~~condition, ~~The~~including ~~Company~~age ~~had~~and ~~concentrations~~ quality, of ~~credit~~the ~~risk~~inventories ~~with~~is noalso ~~individual~~considered ~~customer~~in ~~greater~~establishing its ~~than~~valuation. ~~10%~~These asadjustments ofare ~~March 29~~estimates, ~~2025~~which orcould ~~March~~vary 30significantly, ~~2024~~either ~~with~~favorably ~~the~~or ~~exception~~unfavorably, offrom ~~Motion~~actual ~~Industries.~~requirements ~~Approximately~~if ~~15%~~future ~~and~~economic ~~16% of accounts receivable at March 29~~conditions, ~~2025~~customer ~~and~~inventory ~~March~~levels ~~30,~~or ~~2024,~~competitive ~~respectively,~~conditions ~~were~~differ ~~attributable~~from toour ~~Motion Industries~~expectations.

~~Inventory~~Contract Assets

~~Inventory~~Pursuant to ~~is stated at~~ the ~~lower~~ ofover-time ~~cost~~revenue orrecognition ~~net~~model, ~~realizable~~revenue ~~value.~~may ~~Cost~~be isrecognized ~~determined~~prior byto the ~~first-in,~~customer ~~first-out~~being ~~method~~invoiced. ~~The~~An ~~Company~~unbilled ~~accounts~~amount ~~for~~is ~~inventory under~~recorded ato ~~full~~reflect ~~absorption~~revenue ~~method,~~that ~~and~~is ~~records~~recognized ~~adjustments~~when to(1) the ~~value~~cost-to-cost ofmethod ~~inventory~~is ~~based~~applied ~~upon~~and ~~past~~(2) ~~sales~~such ~~history~~revenue ~~and~~exceeds ~~forecasted~~the ~~plans~~amount toinvoiced ~~sell~~to ~~our~~the ~~inventories~~customer. ~~The~~Such ~~physical~~amounts ~~condition,~~are ~~including~~recoverable ~~age~~from ~~and~~our ~~quality,~~customers ofbased ~~the~~upon ~~inventories~~various ismeasures ~~also~~of ~~considered~~performance, inincluding ~~establishing~~achievement ~~its~~of ~~valuation.~~certain ~~These~~milestones, ~~adjustments~~shipment ~~are~~of ~~estimates~~specified units, ~~which~~or ~~could~~completion ~~vary~~of ~~significantly,~~a ~~either~~contract. ~~favorably~~Contract orassets ~~unfavorably,~~are ~~from~~included ~~actual~~within ~~requirements~~prepaid ifexpenses ~~future~~and ~~economic~~other ~~conditions,~~current ~~customer~~assets ~~inventory~~or ~~levels~~other ornoncurrent ~~competitive~~assets ~~conditions~~on ~~differ~~the ~~from~~consolidated ~~our~~balance ~~expectations~~sheets.

~~Contract~~Property, Plant ~~Assets~~and ~~(Unbilled Receivables)~~Equipment

~~Pursuant to the over-time~~Property, ~~revenue~~plant ~~recognition~~and ~~model,~~equipment ~~revenue~~are ~~may~~recorded beat ~~recognized~~cost. ~~prior~~Depreciation toand ~~the~~amortization ~~customer~~of ~~being~~property, ~~invoiced.~~plant Anand ~~unbilled~~equipment, ~~receivable~~ is recorded tousing ~~reflect revenue that is recognized when (1)~~ the ~~cost~~straight-~~to-cost~~ line method isover ~~applied~~the ~~and~~estimated ~~(2)~~useful ~~such~~lives ~~revenue~~of ~~exceeds~~ the ~~amount~~respective ~~invoiced~~assets. toDepreciation ~~the~~of ~~customer. Contract~~ assets ~~are~~is ~~included~~reported within ~~prepaid~~depreciation ~~expenses~~ and ~~other~~amortization. Expenditures ~~current~~for ~~assets~~normal ormaintenance ~~other~~and ~~noncurrent~~repairs ~~assets~~are oncharged ~~the~~to ~~consolidated~~expense ~~balance~~as ~~sheets~~incurred.

~~Property~~The estimated useful lives of the Company’s property, ~~Plant~~plant and ~~Equipment~~equipment are as follows:

Property, plant and equipment are recorded at cost. Depreciation and amortization of property, plant and equipment, is recorded using the straight-line method over the estimated useful lives of the respective assets. Depreciation of assets is reported within depreciation and amortization. Expenditures for normal maintenance and repairs are charged to expense as incurred.

Buildings and improvements		20-30 years
Machinery and equipment		3-15 years
Leasehold improvements		Shorter of the term of lease or estimated useful life

~~The estimated useful lives~~Cloud ofComputing ~~the Company’s property, plant and equipment are as follows:~~Arrangements

Buildings and improvements		20-30 years
Machinery and equipment		3-15 years
Leasehold improvements		Shorter of the term of lease or estimated useful life

Cloud computing arrangements are recorded in prepaids and other current assets and are amortized over the life of the service agreement, inclusive of renewal periods that are reasonably certain to be exercised. The related amortization expense is recorded within selling, general and administrative expenses on the consolidated statements of operations. Implementation costs associated with these cloud computing arrangements are capitalized dependent on the nature of the costs and the project stage which they are incurred. Preliminary project phase costs are expensed, costs in the application development stage are capitalized and costs associated with the post-implementation phase are expensed as incurred.

Leases

The Company determines if an arrangement is a lease at contract inception. For leases where the Company is the lessee, it recognizes lease assets and related lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. The lease term is the noncancellable period for which a lessee has the right to use an underlying asset, including periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option and periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. For renewal options, the Company performs an assessment at commencement if it is reasonably likely to exercise the option. The assessment is based on the Company’s intentions, past practices, estimates and factors that create an economic incentive for the Company. While some of the Company’s leases include options allowing early termination of the lease, the Company historically has not terminated its lease agreements early unless there is an economic, financial or business reason to do so; therefore, the Company does not typically consider the termination option in its lease term at commencement.

~~The Company must classify~~Most ~~each~~of ~~lease~~the ~~as a finance lease or an operating lease. The~~ Company’s ~~finance~~ leases ~~are~~do ~~included~~not inprovide ~~property,~~an ~~plant~~implicit ~~and~~interest ~~equipment, net~~rate. ~~Amortization~~ ofAs ~~these~~a ~~assets~~result, isthe ~~included~~Company inuses ~~depreciation~~its ~~and~~incremental ~~amortization~~borrowing ~~expense.~~rate based ~~The~~on ~~Company’s~~the ~~operating~~information ~~leases~~available ~~consist~~at ofthe ~~rent~~commencement ~~commitments under~~date ~~various~~in ~~leases~~determining ~~for~~the ~~office~~present ~~space,~~value ~~warehouses,~~of ~~land~~lease ~~and buildings~~payments.

Most of the Company’s leases do not provide an implicit interest rate. As a result, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.41

Subsequent to the initial measurement, the lease liability continues to be measured at the present value of unpaid lease payments throughout the lease term. The lease liability is remeasured if the lease is modified and the modification is not accounted for as a separate contract, there is a change in the assessment of the lease term, the assessment of a purchase option exercise or the amount probable of being owed under a residual value guarantee, or a contingency is resolved resulting in some or all of the variable lease payments becoming fixed payments. Subsequent to the initial measurement, the right-of-use asset for a finance lease is equivalent to the initial measurement less accumulated amortization and any accumulated impairment losses. Generally, amortization of finance leases is recorded to cost of sales or SG&A on a straight-line basis over the lease term. Subsequent to initial measurement, the right-of-use asset for an operating lease is equivalent to initial measurement less accumulated amortization.

39Goodwill and Indefinite-Lived Intangible Assets

Goodwill (representing the excess of the amount paid to acquire a company over the estimated fair value of the net assets acquired) and ~~Indefinite~~indefinite-~~Lived~~lived intangible ~~Intangible~~assets ~~Assets~~are not amortized but instead are tested for impairment annually, or when events or circumstances indicate that the carrying value of such asset may not be recoverable. Separate tests are performed for goodwill and indefinite lived intangible assets. The Company performs the annual impairment testing during the fourth quarter of each fiscal year. We completed a quantitative test of impairment on the indefinite lived intangible assets with no impairment noted in fiscal year 2026. The determination of any goodwill impairment is made at the reporting unit level. The Company determines the fair value of a reporting unit and compares it to its carrying amount. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company applies the income approach (discounted cash flow method) in testing goodwill for impairment. The key assumptions used in the discounted cash flow method used to estimate fair value are gross margin, discount rate, and long-term growth rate, which is affected by expectations about future market or economic conditions. The fair value of the reporting units exceeds the carrying value by a minimum of 38.8% at each of the two reporting units. Assuming no growth in gross margin within the model would not result in impairment of goodwill for any of our reporting units. An increase of 1.0% in our discount rate would not result in impairment of goodwill for any of our reporting units. A decrease of 1.0% in our terminal growth rate would not result in impairment of goodwill for any of our reporting units. Although no changes are expected, if the actual results of the Company are less favorable than the assumptions the Company makes regarding estimated cash flows, the Company may be required to record an impairment charge in the future.

~~Goodwill (representing the~~Contract excess of the amount paid to acquire a company over the estimated fair value of the net assets acquired) and indefinite-lived intangible assets are not amortized but instead are tested for impairment annually, or when events or circumstances indicate that the carrying value of such asset may not be recoverable. Separate tests are performed for goodwill and indefinite lived intangible assets. The Company performs the annual impairment testing during the fourth quarter of each fiscal year. We completed a quantitative test of impairment on the indefinite lived intangible assets with no impairment noted in fiscal year 2025. The determination of any goodwill impairment is made at the reporting unit level. The Company determines the fair value of a reporting unit and compares it to its carrying amount. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company applies the income approach (discounted cash flow method) in testing goodwill for impairment. The key assumption used in the discounted cash flow method used to estimate fair value is gross margin, which is affected by expectations about future market or economic conditions. The fair value of the reporting units exceeds the carrying value by a minimum of 13.8% at each of the two reporting units. Assuming no growth in gross margin within the model would not result in impairment of goodwill for any of our reporting units. Although no changes are expected, if the actual results of the Company are less favorable than the assumptions the Company makes regarding estimated cash flows, the Company may be required to record an impairment charge in the future.Liabilities

Contract liabilities ~~Liabilities~~can ~~(Deferred~~arise ~~Revenue)~~from a customer advance or deposit prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. In addition, contract liabilities can arise from our over-time revenue contracts when amounts invoiced to our customers exceed revenues recognized under the cost-to-cost measure of progress. Contract liabilities are included within accrued expenses and other current liabilities or other noncurrent liabilities on the consolidated balance sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.

~~The Company may receive a~~Income customer advance or deposit prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. Contract liabilities are included within accrued expenses and other current liabilities or other noncurrent liabilities on the consolidated balance sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.Taxes

~~Income~~The Company ~~Taxes~~accounts for income taxes using the liability method, which requires it to recognize a current tax liability or asset for current taxes payable or refundable and a deferred tax liability or asset for the estimated future tax effects of temporary differences between the financial statement and tax reporting bases of assets and liabilities to the extent that they are realizable. Deferred tax expense (benefit) results from the net change in deferred tax assets and liabilities during the year. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company is exposed to certain tax contingencies in the ordinary course of business and records those tax liabilities in accordance with the guidance for accounting for uncertain tax positions.

~~The Company accounts for income~~Temporary ~~taxes~~differences ~~using~~relate ~~the~~primarily ~~liability method, which requires it~~ to ~~recognize~~the atiming ~~current~~of ~~tax~~deductions ~~liability~~for ordepreciation, ~~asset~~stock-based ~~for~~compensation, ~~current~~goodwill ~~taxes~~amortization ~~payable~~relating ~~or refundable~~to ~~and~~the aacquisition ~~deferred~~of ~~tax~~operating ~~liability~~divisions, oramortization ~~asset~~of ~~for~~intangible ~~the~~assets, ~~estimated~~basis ~~future tax effects of temporary~~ differences ~~between~~arising ~~the~~from ~~financial~~acquisition ~~statement~~accounting, ~~and~~pension ~~tax~~and ~~reporting~~retirement ~~bases~~benefits, ~~of assets~~ and ~~liabilities~~various toaccrued ~~the~~and ~~extent~~prepaid ~~that they are realizable~~expenses. Deferred tax ~~expense (benefit) results from the net change in deferred tax~~ assets and liabilities ~~during~~are ~~the year. A valuation allowance is~~ recorded toat ~~reduce deferred tax assets to~~ the ~~amount~~rates ~~that is more likely than not~~ expected to be ~~realized. The Company is exposed to certain tax contingencies~~ in ~~the~~effect ~~ordinary~~when ~~course of business and records those tax liabilities in accordance with~~ the ~~guidance~~temporary ~~for~~differences ~~accounting~~are ~~for~~expected ~~uncertain~~to ~~tax positions~~reverse.

Temporary differences relate primarily to the timing of deductions for depreciation, stock-based compensation, goodwill amortization relating to the acquisition of operating divisions, amortization of intangible assets, basis differences arising from acquisition accounting, pension and retirement benefits, and various accrued and prepaid expenses. Deferred tax assets and liabilities are recorded at the rates expected to be in effect when the temporary differences are expected to reverse.42

40Global Minimum Tax

~~Global~~In October ~~Minimum~~2021, ~~Tax~~the OECD announced an Inclusive Framework on Base Erosion and Profit Shifting including Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large multinational corporations at a minimum rate of 15%. Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 with the adoption of additional components in later years or announced their plans to enact legislation in future years. The Company has performed an assessment of the potential impact to its income taxes as a result of Pillar Two. Based on the results of the assessment, the Company believes that it can avail itself of the transitional safe harbor rules in all jurisdictions in which the Company operates. We will continue to monitor both the U.S. and international legislative developments related to Pillar Two to assess for any potential impacts. We are continuing to evaluate the impacts of enacted legislation and pending legislation to enact Pillar Two Model Rules in the non-US tax jurisdictions in which we operate.

~~In October 2021, the OECD~~Net ~~announced~~Income anPer ~~Inclusive~~Share ~~Framework~~Attributable on Base Erosion and Profit Shifting including Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large multinational corporations at a minimum rate of 15%. Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently enacted legislation to ~~adopt~~Common certain components of the Pillar Two Model Rules beginning in 2024 with the adoption of additional components in later years or announced their plans to enact legislation in future years. The Company has performed an assessment of the potential impact to its income taxes as a result of Pillar Two. Based on the results of the assessment, the Company believes that it can avail itself of the transitional safe harbor rules in all jurisdictions in which the Company operates. We will continue to monitor both the U.S. and international legislative developments related to Pillar Two to assess for any potential impacts. We are continuing to evaluate the impacts of enacted legislation and pending legislation to enact Pillar Two Model Rules in the non-US tax jurisdictions in which we operate.Stockholders

~~Net~~Basic net ~~Income~~income ~~Per~~per ~~Share~~share ~~Attributable~~attributable to ~~Common~~common stockholders is computed by dividing net income attributable to common stockholders by the ~~Stockholders~~weighted-average number of common shares outstanding.

~~Basic~~ Diluted net income per share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options, the vesting of restricted shares, contingently issuable shares related to performance-based awards and the conversion of MCPS (i.e., our outstanding preferred stock) to common shares. We exclude outstanding stock options, stock awards, contingently issuable shares related to performance-based awards and the MCPS from the calculations if the effect would be anti-dilutive.

~~Diluted net income per share~~The ~~attributable~~Company toissued ~~common~~2,029,955 ~~stockholders~~shares ~~is computed by dividing net income attributable to common stockholders by the sum~~ of ~~the weighted-average number of~~ common ~~shares and dilutive common share equivalents then outstanding using the treasury~~ stock ~~method. Common share equivalents consist of the incremental common shares issuable~~ upon the ~~exercise~~conversion of ~~stock options,~~ the ~~vesting of restricted shares, contingently issuable shares related to performance-based awards and the conversion of~~ MCPS ~~(i.e.~~, ~~our~~in ~~outstanding~~October ~~preferred stock) to common shares~~2024.

~~We exclude outstanding stock~~Because ~~options, stock awards, contingently issuable shares related to performance-based awards and~~ the MCPS ~~from the calculations if the effect would be anti-dilutive. The dilutive effect of the MCPS~~ is ~~calculated~~no ~~using~~longer the if-converted method. The if-converted method assumes that these securities were converted to shares of common stock at the beginning of the reporting period to the extent that the effect is dilutive. If the effect is anti-dilutiveoutstanding, ~~we calculate net income per share attributable to common stockholders by adjusting net income in~~ the ~~numerator for~~Company ~~the~~no ~~effect~~longer ofpays ~~the cumulative MCPS~~ dividends ~~for~~on the ~~respective period~~MCPS.

~~The~~For the ~~Company~~fiscal ~~issued 2~~years ended March 29,~~029~~ 2025 and March 30,~~955~~ 2024, the effect of assuming the conversion of the 4,600,000 shares of MCPS into shares of common stock ~~upon~~was anti-dilutive, and therefore excluded from the ~~conversion~~calculation of ~~the~~diluted earnings per share attributable to common stockholders. Accordingly, net income was reduced by cumulative MCPS dividends, as presented in our consolidated statements of operations, for purposes of calculating net income attributable to common stockholders.

~~Because~~ For the ~~MCPS~~fiscal isyear noended ~~longer outstanding~~March 28, 2026, 45,117 employee stock options and 8,990 restricted shares were excluded from the ~~Company~~calculation ~~will~~of diluted ~~not~~earnings ~~pay~~per ~~dividends~~share onattributable to common stockholders. For the ~~MCPS~~fiscal inyear ended March 29, 2025, 55,449 employee stock options and 130 restricted shares were excluded from the ~~future.~~calculation ~~This~~of ~~will~~diluted ~~amount~~earnings per share attributable to acommon ~~cash~~stockholders. ~~savings~~At March 30, 2024, 120,954 employee stock options and 250 restricted shares were excluded from the calculation of ~~$23.0~~ diluted earnings per ~~year~~share attributable to common stockholders. The inclusion of these employee stock options and restricted shares would have been anti-dilutive.

For the fiscal years ended March 29, 2025, March 30, 2024 and April 1, 2023, the effect of assuming the conversion of the 4,600,000 shares of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of diluted earnings per share attributable to common stockholders. Accordingly, net income was reduced by cumulative MCPS dividends, as presented in our consolidated statement of operations, for purposes of calculating net income attributable to common stockholders.43

~~For the fiscal year ended~~The ~~March~~table ~~29,~~below ~~2025,~~reflects ~~55,449 employee stock options and 130 restricted shares were excluded from~~ the calculation of ~~diluted~~weighted-average ~~earnings~~shares ~~per~~outstanding ~~share attributable~~for toeach ~~common~~period ~~stockholders.~~presented ~~For~~as ~~the~~well ~~fiscal~~as ~~year ended March 30, 2024, 120,954 employee stock options and 250 restricted shares were excluded from~~ the ~~calculation~~computation of ~~diluted earnings per share attributable to common stockholders. At April 1, 2023, 110,368 employee~~basic ~~stock options~~ and ~~1,185 restricted shares were excluded from the calculation of~~ diluted ~~earnings~~net income per share attributable to common stockholders. ~~The inclusion of these employee stock options and restricted shares would have been anti-dilutive.~~

	Fiscal Year Ended
	March 28, 2026		March 29, 2025		March 30, 2024
Net income	$	287.6	$	246.2	$	209.9
Preferred stock dividends		—		12.4		23.0
Net income attributable to common stockholders	$	287.6	$	233.8	$	186.9
Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		31,481,360		30,136,501		28,917,008
Effect of dilution due to contingently issuable shares related to performance-based awards		12,755		11,564		—
Effect of dilution due to employee stock awards		140,773		206,405		272,048
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		31,634,888		30,354,470		29,189,056
Basic net income per share attributable to common stockholders	$	9.14	$	7.76	$	6.47
Diluted net income per share attributable to common stockholders	$	9.09	$	7.70	$	6.41

~~The table below reflects the~~Impairment ~~calculation~~ of ~~weighted~~Long-~~average~~Lived ~~shares outstanding for each period presented as well as the computation of basic and diluted net income per share attributable to common stockholders.~~Assets

	Fiscal Year Ended
	March 29, 2025		March 30, 2024		April 1, 2023
Net income	$	246.2	$	209.9	$	166.7
Preferred stock dividends		12.4		23.0		22.9
Net income attributable to common stockholders	$	233.8	$	186.9	$	143.8
Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		30,136,501		28,917,008		28,764,092
Effect of dilution due to contingently issuable shares related to performance-based awards		11,564		—		—
Effect of dilution due to employee stock awards		206,405		272,048		308,337
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		30,354,470		29,189,056		29,072,429
Basic net income per share attributable to common stockholders	$	7.76	$	6.47	$	5.00
Diluted net income per share attributable to common stockholders	$	7.70	$	6.41	$	4.94

The Company assesses the net realizable value of its long-lived assets and evaluates such assets for impairment whenever indicators of impairment are present. For amortizable long-lived assets to be held and used, if indicators of impairment are present, management determines whether the sum of the estimated undiscounted future cash flows is less than the carrying amount. The amount of asset impairment, if any, is based on the excess of the carrying amount over its fair value, which is estimated based on projected discounted future operating cash flows using a discount rate reflecting the Company’s average cost of funds.

~~Impairment~~During each of ~~Long-Lived~~fiscal ~~Assets~~2026, 2025 and 2024, the Company ceased use of certain assets and recorded impairment charges. In fiscal 2026 the Company recorded impairment charges of $0.1 for machinery and equipment in our Industrial segment, $0.2 for machinery and equipment at Corporate, and $0.1 for patents and trademarks at Corporate. In fiscal 2025, the Company recorded an impairment charge of $0.5 for patent and trademarks at Corporate. In fiscal 2024, the Company recorded impairment charges of $0.6 for machinery and equipment in our Aerospace & Defense segment and $1.9 for patents and trademarks at Corporate.

~~The Company assesses the~~These ~~net realizable value of its long-lived assets and evaluates such assets for~~ impairment ~~whenever~~charges ~~indicators~~were ofrecorded ~~impairment~~in ~~are present. For amortizable long-lived assets to be held and used~~other, ifnet indicators of impairment are present, management determines whether the sum of the estimated undiscounted future cash flows is less than the carrying amount. The amount of asset impairment, if any, is based on the ~~excess of the carrying amount over its fair value, which is estimated based on projected discounted future operating cash flows using a discount rate reflecting the~~ Company’s ~~average~~consolidated ~~cost~~statements of ~~funds~~operations. ~~During fiscal year 2025, impairment charges related to certain patents and trademarks totaling $0.5 were recorded based on our internal assessments performed.~~

Long-lived assets to be disposed of by sale or other means are reported at the lower of carrying amount or fair value, less costs to sell.

Foreign Currency Translation and Transactions

Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars using the exchange rate in effect at the balance sheet date. Results of operations are translated using the average exchange rate prevailing throughout the period. The effects of exchange rate fluctuations on translating foreign currency assets and liabilities from their functional currencies to the reporting currency are included in accumulated other comprehensive income/(loss), while gains and losses resulting from foreign currency transactions are included in other non-operating expense (income).

Research and Development

Costs are incurred in connection with efforts aimed at discovering and implementing new knowledge that is critical to developing new products, processes or services, significantly improving existing products or services, and developing new applications for existing products and services. Research and development costs for the creation of new and improved products, processes and services were approximately $3334.04, $33.0 and $3133.80, for fiscal years ~~2025~~ 2026, ~~2024~~2025 and ~~2023~~2024, respectively.

~~Fair Value Measurements~~44

~~Fair value is the price that~~Derivative would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Inputs used to measure fair value are within a hierarchy consisting of three levels. Level 1 inputs represent unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 inputs represent unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 inputs represent unobservable inputs for the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.Instruments

42The Company recognizes all derivates on the Consolidated Balance Sheet at fair value. Derivative instruments that are not designated as hedges are adjusted to fair value through earnings. Currently the Company does not hold any instruments that are not designated as hedges. If the derivative is designated and qualifies as a hedge, depending on the nature of the hedge, changes in fair value will offset the change in fair value of the hedged assets or liabilities through earnings or recognized in accumulated other comprehensive income/(loss). As of March 28, 2026, the only instrument held by the Company is the Cross Currency Swap (CCS). This instrument is designated as a net investment hedge on an after-tax basis. The Company previously had an interest rate swap that ended in December 2025.

The ~~Company’s financial~~ ~~instruments~~objective ~~consist primarily~~ of ~~cash,~~the ~~accounts~~Cross ~~receivable,~~Currency ~~trade~~Swap ~~accounts~~is ~~payable,~~to ~~short-term~~economically ~~borrowings,~~hedge ~~long-term debt, and derivatives in~~ the ~~form~~Company’s ofnet aninvestment ~~interest~~in ~~rate~~its ~~swap and a cross currency swap. Due to their short~~lower-~~term~~tier ~~nature,~~European ~~the carrying value of cash~~subsidiary, ~~accounts receivable,~~ ~~trade accounts payable~~Schaublin, ~~accrued~~against ~~expenses~~adverse ~~and~~changes ~~short-term~~in ~~borrowings~~the ~~are~~Swiss ~~a reasonable estimate of their fair value~~franc/U.S. ~~Long-term~~dollar ~~assets~~exchange ~~held on our balance sheets related to benefit plan obligations are measured at fair value~~rate. The ~~fair~~Cross ~~value~~Currency ofSwap ~~the~~is ~~Company’s long-term fixed-rate debt,~~ based onupon ~~quoted~~a ~~market~~net ~~prices,~~investment of ~~was~~CHF ~~$470~~69.54 ~~and~~ ($~~456~~80.80 atUSD) ~~March~~notional ~~29,~~amount ~~2025~~with ~~and~~a ~~March~~three-year ~~30,~~maturity ~~2024, respectively~~date. ~~The~~RBC ~~carrying value~~receives ofa ~~this~~fixed ~~debt was $495~~U.~~1 at March 29, 2025 and $494~~S.2 atdollar ~~March~~amount ~~30,~~on ~~2024.~~a ~~The fair value of long~~month-~~term fixed~~to-~~rate debt was measured~~month ~~using~~basis ~~Level~~based 1upon ~~inputs.~~a ~~Due~~fixed toannual ~~the nature of fair value calculations for variable-~~rate ~~debt, the carrying value~~ of ~~the Company’s long-term variable-rate debt is a reasonable estimate of its fair value~~2.77% ~~The fair value~~ of the ~~Interest~~notional ~~Rate Swap was $(0~~amount.3) ~~and~~At ~~$1.6 at March 29~~maturity, ~~2025~~ ~~and~~RBC ~~March~~will ~~30,~~net-settle ~~2024,~~the ~~respectively,~~principal ~~and~~of ~~was~~the ~~measured~~Cross ~~using~~Currency Swap ~~Level 2 inputs. This amount is included~~ in ~~accrued~~cash ~~expenses~~with ~~and other current liabilities on~~ the ~~Company’s consolidated balance sheets~~counterparty. ~~The~~As ~~Interest~~the ~~Rate~~instrument ~~Swap,~~is ~~net~~designated ~~of taxes, had accumulated other comprehensive loss of $(0.2) and accumulated other comprehensive income of $1.2~~ as ofa ~~March~~net ~~29,~~investment ~~2025 and March 30~~hedge, ~~2024 and was included in accumulated other comprehensive income/(loss) on~~ the ~~Company’s consolidated balance sheets, and in the Company’s consolidated statements of comprehensive income/(loss). The~~ fair value of the ~~Cross~~instrument ~~Currency Swap~~ was ~~$(0.2) at March 29, 2025, and was measured using Level 2 inputs. This amount is~~ included in ~~other noncurrent liabilities on~~ the ~~Company’s~~ consolidated balance ~~sheets.~~sheet ~~The~~within ~~Cross Currency Swap, net of taxes, had accumulated~~ other ~~comprehensive~~noncurrent ~~loss of $(0~~liabilities.2) asChanges ofin ~~March~~the ~~29,~~fair ~~2025,~~value ~~and~~are ~~was~~recognized ~~included~~through in accumulated other ~~comprehensive~~ ~~income/(loss) on the Company’s consolidated balance sheets, and in the Company’s consolidated statements of~~ comprehensive income/(loss).

~~The Company does not believe~~Accumulated itOther ~~has~~Comprehensive ~~significant~~Income/(Loss) ~~concentrations of risk associated with the counterparties to its financial instruments.~~

~~Accumulated~~The components ~~Other~~of ~~Comprehensive~~comprehensive ~~Income~~income/(~~Loss~~loss) that relate to the Company are net income, foreign currency translation adjustments, changes in the fair value of derivatives and pension plan and postretirement benefits, all of which are presented in the consolidated statements of stockholders’ equity and comprehensive income/(loss).

The ~~components of comprehensive~~ ~~income/(loss)~~following ~~that~~summarizes ~~relate to~~ the ~~Company~~activity ~~are~~within ~~net~~each ~~income,~~component ~~foreign currency translation adjustments, changes in the fair value~~ of ~~derivatives and~~accumulated ~~pension~~other ~~plan and postretirement benefits, all of which are presented in the consolidated statements of stockholders’ equity and~~ comprehensive income/(loss)., net of taxes:

The following summarizes the activity within each component of accumulated other comprehensive income/(loss), net of taxes:

	Currency Translation			Change in Fair Value of Interest Rate Swap			Change in Fair Value of Cross Currency Swap			Pension and Postretirement Liability			Total
Balance at March 29, 2025	$	(6.5	)	$	(0.2	)	$	(0.2	)	$	5.5		$	(1.4	)
Reclassification to net income		—			(0.2	)		—			—			(0.2	)
Change in pension and postretirement liability		—			—			—			(1.3	)		(1.3	)
Net gain on foreign currency translation		10.4			—			—			—			10.4
Gain on Interest Rate Swap, net of taxes		—			0.4			—			—			0.4
Loss on Cross Currency Swap, net of taxes		—			—			(5.8	)		—			(5.8	)
Net current period other comprehensive income		10.4			0.2			(5.8	)		(1.3	)		3.5
Balance at March 28, 2026	$	3.9		$	0.0		$	(6.0	)	$	4.2		$	2.1

	Currency Translation			Change in Fair Value of Interest Rate Swap			Change in Fair Value of Cross Currency Swap			Pension and Postretirement Liability		Total
Balance at March 30, 2024	$	(3.6	)	$	1.2		$	—		$	3.1	$	0.7
Reclassification to net income		—			2.0			—			—		2.0
Change in pension and postretirement liability		—			—			—			2.4		2.4
Net loss on foreign currency translation		(2.9	)		—			—			—		(2.9	)
Loss on Interest Rate Swap, net of taxes		—			(3.4	)		—			—		(3.4	)
Loss on Cross Currency Swap, net of taxes		—			—			(0.2	)		—		(0.2	)
Net current period other comprehensive income		(2.9	)		(1.4	)		(0.2	)		2.4		(2.1	)
Balance at March 29, 2025	$	(6.5	)	$	(0.2	)	$	(0.2	)	$	5.5	$	(1.4	)

Stock-Based Compensation

The Company recognizes stock-based compensation cost relating to all stock-based payment transactions in the financial statements based upon the grant-date fair value of the instruments issued over the requisite service period. The fair value of each option grant was estimated on the date of grant using the Black-Scholes pricing model. The Company estimates expected forfeitures at the grant date and recognizes stock-based compensation costs, accordingly. The Company also recognizes stock-based compensation cost relating to restricted stock awards that are earned by employees prior to being granted as liability awards.

43Recent Accounting Pronouncements

~~Recent~~In December ~~Accounting~~2023, ~~Pronouncements~~the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in ASU 2023-09 address 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 reporting periods beginning after December 15, 2024. As of March 28, 2026, the Company has updated our disclosure to comply with the updated requirements. Refer to “Note 15: Income Taxes” for additional information.

In November ~~2023~~2024, ~~Financial Accounting~~the ~~Standards Board (~~FASB) issued ~~Accounting Standards Update (~~ASU) ~~2023~~2024-0703, ~~Segment~~Disaggregation ~~Reporting~~of ~~(Topic~~Income ~~280):~~Statement ~~Improvements~~Expenses ~~to Reportable Segment Disclosures~~(DISE). The ~~amendments~~new instandard ~~ASU~~requires ~~2023-07~~disclosure of ~~improve~~specific ~~the~~types ~~disclosures~~of ~~about~~expenses aincluded ~~public~~in ~~entity’s~~the ~~reportable~~expense ~~segments and~~captions ~~address~~presented ~~requests~~on ~~from~~the ~~investors~~face ~~for~~of ~~additional,~~the ~~more~~income ~~detailed~~statement ~~information~~as ~~about~~well aas ~~reportable~~disclosures ~~segment’s~~about selling expenses. ~~Following~~ASU ~~the release~~2024-03 ofis ~~ASU~~effective ~~2023-07~~for inannual ~~November~~reporting ~~2023,~~periods ~~the~~beginning ~~effective~~after ~~date~~December ~~will~~15, be2026, ~~annual~~and interim reporting periods beginning after December 15, ~~2023~~2027. As of March 2928, ~~2025~~2026, the Company ~~has~~is ~~updated~~evaluating ~~our~~the ~~segment~~impact ~~disclosure to comply with~~ the ~~updated~~standard ~~requirements.~~will ~~Refer~~have toon ~~“Note~~its ~~19: Reportable~~consolidated ~~Segments”~~financial ~~for additional information~~statements.

In September ~~December 2023~~2025, the FASB issued ASU ~~2023~~2025-0906, ~~Income~~Targeted ~~Taxes (Topic 740):~~ Improvements to ~~Income~~the ~~Tax~~Accounting ~~Disclosures~~for Internal Use Software. The ~~amendments~~new instandard ~~ASU~~amends the ~~2023-09~~existing ~~address~~standard ~~investor~~that ~~requests~~refers ~~for~~to ~~more~~various ~~transparency~~stages ~~about income~~of ~~tax~~a ~~information~~software ~~through~~development ~~improvements~~project to ~~income~~align ~~tax~~better ~~disclosures~~with ~~primarily~~current ~~related~~software todevelopment methods, ~~the~~such ~~rate~~as ~~reconciliation~~agile ~~and income taxes paid information~~programming. ASU ~~2023~~2025-0906 is effective for annual reporting periods beginning after December 15, ~~2024~~2027, and interim reporting periods within those annual reporting periods. WeAs ~~are~~of ~~currently~~March 28, 2026, the Company is evaluating the impact the standard will have on ~~our~~its consolidated financial statements.

~~In November 2024, the FASB~~Other ~~issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE). The~~ new ~~standard~~pronouncements ~~requires~~issued ~~disclosure~~but ofnot ~~specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 is~~ effective ~~for~~until ~~annual reporting periods beginning~~ after ~~December~~March 1528, 2026, ~~and~~are ~~interim~~not ~~reporting~~expected ~~periods~~to ~~beginning~~have ~~after December~~a ~~15,~~material ~~2027. We are currently evaluating the~~ impact ~~the~~on ~~standard~~our ~~will~~financial ~~have~~position, results onof ~~our~~operations ~~consolidated~~or ~~financial statements~~liquidity.

~~Other new pronouncements issued~~3. ~~but~~Revenue ~~not~~from ~~effective~~Contracts ~~until~~with ~~after March 29, 2025 are not expected to have a material impact on our financial position, results of operations or liquidity.~~Customers

~~3. Revenue~~Disaggregation ~~from~~of ~~Contracts with Customers~~Revenue

~~Disaggregation~~The following oftable ~~Revenue~~disaggregates total revenue by end market which is how we view our reportable segments (see Note 19):

The following table disaggregates total revenue by end market which is how we view our reportable segments (see Note 19):

	Fiscal Year Ended
	March 28, 2026		March 29, 2025		March 30, 2024
Aerospace & Defense	$	788.0	$	592.8	$	519.4
Industrial		1,082.9		1,043.5		1,040.9
	$	1,870.9	$	1,636.3	$	1,560.3

	Fiscal Year Ended
	March 29, 2025		March 30, 2024		April 1, 2023
Aerospace/Defense	$	592.8	$	519.4	$	430.3
Industrial		1,043.5		1,040.9		1,039.0
	$	1,636.3	$	1,560.3	$	1,469.3

The following table disaggregates total revenue by geographic origin:

	Fiscal Year Ended
	March 28, 2026		March 29, 2025		March 30, 2024
United States	$	1,668.1	$	1,449.7	$	1,375.4
International		202.8		186.6		184.9
	$	1,870.9	$	1,636.3	$	1,560.3

	Fiscal Year Ended
	March 29, 2025		March 30, 2024		April 1, 2023
United States	$	1,449.7	$	1,375.4	$	1,292.9
International		186.6		184.9		176.4
	$	1,636.3	$	1,560.3	$	1,469.3

The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized for performance obligations satisfied at a point in time:

	Fiscal Year Ended
	March 29, 2025			March 30, 2024			April 1, 2023
	March 28, 2026			March 29, 2025			March 30, 2024
Point-in-time		9895	%		98	%		98	%
Over time		25	%		2	%		2	%
		100	%		100	%		100	%

44Remaining Performance Obligations

Remaining performance ~~Performance~~obligations ~~Obligations~~represent the transaction price of orders meeting the definition of a contract in ASC Topic 606 for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC Topic 606, is less than one year. The Company has elected to apply the practical expedient, which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $1,267.2 at March 28, 2026. The Company expects to recognize revenue on approximately 42% of the remaining performance obligations over the next 12 months with the remainder recognized thereafter.

~~Remaining performance obligations~~Contract represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC Topic 606, is less than one year. The Company has elected to apply the practical expedient, which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $542.2 at March 29, 2025. The Company expects to recognize revenue on approximately 65% and 89% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.Balances

~~Contract~~The timing ~~Balances~~of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the consolidated balance sheets. These assets and liabilities are reported on the consolidated balance sheets on an individual contract basis at the end of each reporting period.

~~The~~Contract Assets ~~timing~~- ofPursuant to the over-time revenue recognition model, ~~invoicing~~ ~~and~~revenue ~~cash~~may ~~collections~~be ~~affect~~recognized ~~accounts~~prior ~~receivable,~~to the customer being invoiced. An unbilled ~~receivables~~amount ~~(contract~~is ~~assets)~~recorded ~~and~~to ~~customer~~reflect ~~advances~~revenue ~~and~~that ~~deposits~~is recognized when (~~contract~~1) the cost-to-cost method is applied ~~liabilities~~and (2) onsuch revenue exceeds the ~~consolidated~~amount ~~balance~~invoiced ~~sheets.~~to ~~These~~the ~~assets~~customer. ~~and~~Such ~~liabilities~~amounts are ~~reported~~recoverable onfrom ~~the~~our ~~consolidated~~customers ~~balance~~based ~~sheets~~upon onvarious measures anof ~~individual contract~~performance, ~~basis~~including atachievement ~~the~~of ~~end~~certain milestones, shipment of ~~each~~specified ~~reporting~~units, ~~period~~or completion of a contract. Contract assets are included within prepaid expenses and other current assets or other noncurrent assets on the consolidated balance sheets.

~~Contract~~As of ~~Assets~~March ~~(Unbilled~~28, 2026 and March 29, 2025, current contract assets were $9.3 and $6.6, respectively, and included within prepaid expenses ~~Receivables)~~and -other ~~Pursuant~~current assets on the consolidated balance sheets. The increase in current contract assets was primarily due to current contract assets acquired as part of the ~~over-time~~VACCO ~~revenue~~acquisition and the recognition ~~model,~~of revenue ~~may~~related beto ~~recognized~~the satisfaction or partial satisfaction of performance obligations prior to ~~the~~billing, ~~customer~~partially ~~being~~offset ~~invoiced. An~~by ~~unbilled~~amounts ~~receivable~~billed isto ~~recorded~~customers toduring ~~reflect~~the ~~revenue~~period. ~~that~~As isof ~~recognized~~March ~~when~~28, ~~(1)~~2026 and March 29, 2025, the ~~cost-to-cost~~Company ~~method~~had isnoncurrent ~~applied~~contract assets of $10.8 and ~~(2)~~$0.0, ~~such~~respectively, ~~revenue~~which were included within other noncurrent ~~exceeds~~assets on the ~~amount~~consolidated ~~invoiced~~balance sheets. The increase in noncurrent contract assets was primarily due to the ~~customer~~acquisition of VACCO.

AsContract Liabilities of- ~~March~~Contract ~~29,~~liabilities ~~2025~~can ~~and~~arise ~~March 30,~~from ~~2024,~~a ~~current~~customer ~~contract~~advance ~~assets~~or ~~were~~deposit ~~$6.6~~prior ~~and~~to $6revenue being recognized.9, ~~respectively,~~Since ~~and~~the ~~included~~performance obligations ~~within~~related ~~prepaid~~to ~~expenses~~such ~~and~~advances ~~other~~may ~~current~~not ~~assets~~have onbeen ~~the consolidated~~satisfied, ~~balance~~a ~~sheets.~~contract ~~The~~liability ~~decrease~~is inestablished. In addition, contract ~~assets~~liabilities can ~~was~~arise ~~primarily~~from ~~due~~our toover-time revenue contracts when amounts ~~billed~~invoiced to our customers ~~during~~exceed ~~the~~revenues ~~period~~recognized ~~partially offset~~under by the ~~recognition~~cost-to-cost measure of ~~revenue~~progress. ~~related~~Contract toliabilities ~~the~~are ~~satisfaction~~included within accrued expenses and other current liabilities or ~~partial~~other ~~satisfaction~~noncurrent ofliabilities on ~~performance~~the ~~obligations~~consolidated ~~prior~~balance tosheets ~~billing~~until the respective revenue is recognized. As ofAdvance ~~March~~payments ~~29,~~are ~~2025~~not ~~and~~considered ~~March~~a ~~30,~~significant ~~2024,~~financing component as the ~~Company~~timing ~~did~~of ~~not~~the ~~have~~transfer ~~any~~of ~~contract~~the ~~assets~~related ~~classified~~goods asor ~~noncurrent~~services onis at the ~~consolidated~~discretion ~~balance sheets~~of the customer.

~~Contract~~As of ~~Liabilities~~March ~~(Deferred Revenue)~~28, -2026 ~~The~~and ~~Company~~March ~~may~~29, ~~receive~~2025, acurrent ~~customer~~contract ~~advance~~liabilities orwere ~~deposit~~$59.3 and $32.7, orrespectively, ~~have~~and anincluded ~~unconditional~~within ~~right~~accrued toexpenses and ~~receive~~other acurrent ~~customer~~liabilities ~~advance,~~on ~~prior to~~the ~~revenue~~consolidated ~~being~~balance ~~recognized~~sheets. ~~Since~~The ~~the~~increase ~~performance~~in ~~obligations~~current ~~related~~contract liabilities was primarily due to ~~such~~current contract ~~advances~~liabilities ~~may~~acquired ~~not~~as ~~have~~part ~~been~~of ~~satisfied~~the VACCO acquisition and advance payments received, apartially ~~contract~~offset ~~liability is~~by ~~established.~~revenue ~~Advance~~recognized on ~~payments~~customer ~~are~~contracts. ~~not~~For ~~considered~~the ayear ~~significant~~ended ~~financing~~March ~~component~~28, as2026, the ~~timing~~Company recognized revenues of $24.4 that were included in the ~~transfer~~contract liability balance as of March 29, 2025. For the ~~related~~year ~~goods or~~ended ~~services~~March is29, at2025, the ~~discretion~~Company recognized revenues of $18.1 that were included in the ~~customer~~contract liability balance at March 30, 2024.

As of March 2928, ~~2025~~2026 and March 30 29, ~~2024~~2025, ~~current~~noncurrent contract liabilities were $3279.75 and $2212.51, respectively, and included within ~~accrued expenses and~~ other ~~current liabilities~~noncurrent liabilities on the consolidated balance sheets. The increase in ~~current~~noncurrent contract liabilities was primarily due to ~~advance payments received and~~ the ~~reclassification~~ acquisition of aVACCO ~~portion~~and of advance payments received ~~from the noncurrent portion of contract liabilities partially offset by revenue recognized on customer contracts~~. For the year ended March 29, 2025, the Company recognized revenues of $18.1 that were included in the contract liability balance as of March 30, 2024. For the year ended March 30, 2024, the Company recognized revenues of $16.4 that were included in the contract liability balance at April 1, 2023.

As of March 29, 2025 and March 30, 2024, noncurrent contract liabilities were $12.1 and $19.9, respectively, and included within other noncurrent liabilities on the consolidated balance sheets. The decrease in noncurrent contract liabilities was primarily due to the reclassification of a portion of advance payments received to the current portion of contract liabilities partially offset by noncurrent advance payments received.47

Variable Consideration

The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. Accrued customer rebates were $40.07 and $3840.0 at March 29 28, ~~2025~~2026 and March 3029, ~~2024~~2025, respectively, and ~~are~~were included within accrued expenses and other current liabilities on the consolidated balance sheets.

454. Fair Value

4. Fair ~~Value~~value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy:

~~Fair value is defined as the~~Level ~~price~~1 ~~that~~– ~~would~~Unadjusted bequoted ~~expected~~prices toin beactive ~~received~~markets tofor ~~sell~~identical anassets ~~asset~~ or ~~paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price)~~liabilities. ~~The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy:~~

Level 2 1 – Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.

Level 3 2 – ~~Unadjusted~~Unobservable ~~quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or~~ inputs ~~other than quoted prices that are observable~~ for the asset or liability.

~~Level~~Financial assets 3and –liabilities ~~Unobservable~~are ~~inputs~~classified ~~for~~in their entirety based on the ~~asset or~~lowest ~~liability~~level of input that is significant to the fair value measurement.

~~Financial~~As a ~~assets~~result ~~and~~of ~~liabilities are~~the ~~classified~~occurrence inof ~~their~~triggering ~~entirety~~events ~~based~~such onas ~~the~~purchase ~~lowest~~accounting ~~level~~for ofacquisitions, ~~input~~the ~~that~~Company ismeasures ~~significant~~certain toassets ~~the~~and liabilities ~~fair~~based ~~value~~on ~~measurement~~Level 3 inputs.

~~As a result of the occurrence~~Financial ~~of triggering events such as purchase accounting for acquisitions, the Company measures certain assets and liabilities based on Level 3 inputs.~~Instruments

~~Recurring~~The Company’s ~~Fair~~financial ~~Value~~instruments ~~Measurements~~consist primarily of cash, accounts receivable, trade accounts payable, short-term borrowings, long-term debt, and derivatives in the form of a cross-currency swap.

The Company’s financial instruments consist primarily of cash, accounts receivable, trade accounts payable, short-term borrowings, long-term debt, and derivatives in the form of an interest rate swap and a cross currency swap. Due to their short-term nature, the carrying value of cash, accounts receivable, trade accounts payable, accrued expenses and short-term borrowings are a reasonable estimate of their fair value. Long-term assets held on our balance sheets related to benefit plan obligations are measured at fair value. The fair value of the Company’s long-term fixed-rate debt, based on quoted market prices, was $470.5 and $456.8 at March 29, 2025 and March 30, 2024, respectively. The carrying value of this debt was $495.1 at March 29, 2025 and $494.2 at March 30, 2024. The fair value of long-term fixed-rate debt was measured using Level 1 inputs. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company’s long-term variable-rate debt is a reasonable estimate of its fair value. The fair value of the Inter

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