Belden Inc 8-K/A, filed Sep 11, 2026

Belden Inc. (BDC)

8-K/A 2026-09-11 For: 2026-07-01

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Added on September 11, 2026

About this 8-K/A

Belden Inc filed this 8-K/A on September 11, 2026, reporting on events of July 1, 2026.

Items reported

Item 9.01: Financial statements and exhibits

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Exhibit Number						Description

15.1						EY Acknowledgment letter for the interim Ruckus financial information
23.1						Consent of Independent Auditors
99.1						Ruckus Wireless Networks audited financial statements as of December 31, 2025 and December 31, 2024, the notes related thereto, and the Independent Auditors’ Report
99.2						Ruckus Wireless Networks unaudited financial statements for the three months ended March 31, 2026 and 2025, the notes related thereto, and the Independent Auditors’ Report
99.3						Unaudited Pro Forma Financial Information of Belden Inc.
104						Cover Page Interactive Data File (the cover page iXBRL tags are embedded within the Inline XBRL document)


	Year Ended December 31,
	2025		2024
Net sales	$	686,777	$	521,189
Cost of sales	235,857		226,597
Gross profit	450,920		294,592
Transition service agreement income	4,562		1,923
Operating expenses:
Selling, general and administrative	228,224		178,583
Research and development	122,603		95,807
Amortization of purchased intangible assets	49,916		49,916
Restructuring costs, net	4,635		2,185
Total operating expenses	405,378		326,491
Operating income (loss)	50,104		(29,976)
Other (expense) income, net	(1,846)		830
Interest income	236		476
Income (loss) before income taxes	48,494		(28,670)
Income tax (expense) benefit	(12,618)		6,024
Net income (loss)	$	35,876	$	(22,646)


	Year Ended December 31,
	2025		2024
Comprehensive income (loss):
Net income (loss)	$	35,876	$	(22,646)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	1,936		(563)
Total comprehensive income (loss)	$	37,812	$	(23,209)


	December 31,
	2025		2024
Assets
Cash and cash equivalents	$	129,492	$	32,966
Accounts receivable, less allowance for doubtful accounts of $348 and $270, respectively	77,029		70,507
Inventories, net	71,776		55,797
Prepaid expenses and other current assets	7,016		11,882
Total current assets	285,313		171,152
Property, plant and equipment, net of accumulated depreciation of $39,874 and $46,908, respectively	8,267		7,679
Goodwill	376,939		375,624
Other intangible assets, net	120,068		169,984
Deferred income taxes	185,280		191,349
Other noncurrent assets	28,072		28,828
Total assets	$	1,003,939	$	944,616
Liabilities and equity
Accounts payable	$	51,924	$	17,528
Accrued and other liabilities	183,249		138,331
Total current liabilities	235,173		155,859
Deferred income taxes	43		1
Other noncurrent liabilities	122,636		112,395
Total liabilities	357,852		268,255
Commitments and contingencies (Note 11)
Equity:
Net parent investment	647,268		679,478
Accumulated other comprehensive loss	(1,181)		(3,117)
Total equity	646,087		676,361
Total liabilities and equity	$	1,003,939	$	944,616


	Year Ended December 31,
	2025		2024
Operating activities
Net income (loss)	$	35,876	$	(22,646)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	52,233		52,718
Loss on disposal of property, plant, and equipment	5		—
Equity-based compensation	8,680		5,601
Deferred income taxes	6,111		(16,259)
Changes in assets and liabilities:
Accounts receivable	(6,521)		(47,256)
Inventories	(15,978)		49,816
Prepaid expenses and other current assets	(2,303)		(1,659)
Accounts payable	34,009		(32,761)
Accrued and other liabilities	44,514		(13,055)
Other noncurrent assets	828		2,636
Other noncurrent liabilities	10,169		7,967
Other	(319)		294
Net cash generated by (used in) operating activities	167,304		(14,604)
Investing activities
Cash outflows related to debt due from Parent	—		(6,961)
Cash inflows related to debt due from Parent	7,169		—
Additions to property, plant and equipment	(2,218)		(3,311)
Net cash generated by (used in) investing activities	4,951		(10,272)
Financing activities
Financing transactions with Parent, net	(75,753)		55,087
Net cash (used in) generated by financing activities	(75,753)		55,087
Effect of exchange rate changes on cash and cash equivalents	24		(46)
Change in cash and cash equivalents	96,526		30,165
Cash and cash equivalents at beginning of period	32,966		2,801
Cash and cash equivalents at end of period	$	129,492	$	32,966


	Net Parent Investment		Accumulated Other Comprehensive Loss		Total Equity
Balance as of December 31, 2023	$	641,436	$	(2,554)	$	638,882
Net loss	(22,646)		—		(22,646)
Equity-based compensation	5,601		—		5,601
Foreign currency translation loss			(563)		(563)
Change in net parent investment, net	55,087		—		55,087
Balance as of December 31, 2024	679,478		(3,117)		676,361
Net income	35,876		—		35,876
Equity-based compensation	8,680		—		8,680
Foreign currency translation (loss) gain	(1,013)		1,936		923
Change in net parent investment, net	(75,753)		—		(75,753)
Balance as of December 31, 2025	$	647,268	$	(1,181)	$	646,087


	December 31, 2025						December 31, 2024
	Gross Carrying Amount		Accelerated Amortization		Net Carrying Amount		Gross Carrying Amount		Accelerated Amortization		Net Carrying Amount
Customer base	$	155,000	$	(69,750)	$	85,250	$	155,000	$	(59,417)	$	95,583
Patents and technologies	248,000		(239,143)		8,857		248,000		(203,714)		44,286
Tradenames & trademarks	54,000		(28,039)		25,961		54,000		(23,885)		30,115
Total intangible assets	$	457,000	$	(336,932)	$	120,068	$	457,000	$	(287,016)	$	169,984


	Estimated Amortization Expense
2026	$	23,344
2027	14,487
2028	14,487
2029	14,487
2030	14,487
Thereafter	38,776


	Total
Gross goodwill as of December 31, 2023	$	417,525
Accumulated impairment losses	(41,200)
Net goodwill as of December 31, 2023	$	376,325
FY24 activity
Foreign currency translation loss	$	(701)
Gross goodwill as of December 31, 2024	$	416,824
Accumulated impairment losses	(41,200)
Net goodwill as of December 31, 2024	$	375,624
FY25 activity
Foreign currency translation gain	$	1,315
Gross goodwill as of December 31, 2025	$	418,139
Accumulated impairment losses	(41,200)
Net goodwill as of December 31, 2025	$	376,939


		December 31,
Contract Balance Type	Balance Sheet Location	2025		2024
Unbilled accounts receivable	Accounts receivable, less allowance for doubtful accounts	$	90	$	261
Deferred revenue - current	Accrued other liabilities	88,029		77,275
Deferred revenue - noncurrent	Other noncurrent liabilities	92,265		79,680


Weighted average remaining lease term (in years)			5.9
Weighted average discount rate			6.8%


			Operating Leases
2026			$ 7,963
2027			5,514
2028			5,310
2029			4,731
2030			4,615
Thereafter			8,056
Total minimum lease payments			36,189
Less: imputed interest			(6,149)
Total			$ 30,040


Cash Flow Information
	Year Ended December 31,
	2025	2024
Cash paid during the period for:
Income taxes, net of refunds	$ 5,901	$ 2,039


	Restructuring Costs
Balance as of January 1, 2024	$	70
Additional expense	1,886
Cash paid	(1,517)
Balance as of December 31, 2024	439
Additional expense	3,407
Cash paid	(1,809)
Balance as of December 31, 2025	$	2,037


	Amount		% of Statutory Tax
Pre-tax book income	$	48,494	—%
U.S. federal statutory tax rate	10,184		21.0
State and local income taxes, net of federal income tax effect	978		2.0
Foreign tax effects:
Effect of rates different than statutory	782		1.6
Other foreign jurisdictions	787		1.6
Tax credits:
U.S. R&D credit	(2,842)		(5.8)
Other	2,729		5.6
Income tax provision	$	12,618	26.8%



Charlotte, North Carolina
September 11, 2026


	December 31,
	2025		2024
Raw materials	$	2,829	$	—
Work in progress	3,120		122
Finished goods	65,827		55,675
Total inventories, net	$	71,776	$	55,797


	December 31,
	2025		2024
Deferred tax assets:
Accounts receivable, inventory and warranty reserves	$	25,030	$	31,183
Employee benefits	5,801		599
Net operating losses and tax credit carryforwards	30,264		665
Capitalized research and development costs	81,179		126,966
Deferred revenue	42,841		37,300
Other	9,313		12,366
Total deferred tax assets	$	194,428	$	209,079
Deferred tax liabilities:
Intangible assets	(9,191)		(17,731)
Total deferred tax liabilities	(9,191)		(17,731)
Net deferred tax asset	185,237		191,348
Deferred taxes recognized on the balance sheet:
Noncurrent deferred tax asset	185,280		191,349
Noncurrent deferred tax liability	(43)		(1)
Net deferred tax asset	$	185,237	$	191,348


	Restricted Stock Units	Weighted Average Grant Date Fair Value Per Share
Non-vested share units at December 31, 2024	1,370	$	3.14
Granted	548	6.20
Vested and shares issued	(638)	4.26
Non-vested share units at December 31, 2025	1,280	$	3.90


	Year Ended December 31, 2024
Income tax expense at federal statutory rate	$	(6,021)
State income taxes, net of federal tax effect	(980)
U.S. federal R&D credits	(4,079)
Withholding taxes and Subpart F income, net of foreign tax credits	804
Foreign earnings taxed at other than federal rate	125
Other	4,127
Total income tax expense	$	(6,024)


	Year Ended December 31, 2025
Foreign
United Kingdom	$	4,078
India	1,125
Other	698
Cash paid for income taxes, net of refunds received	$	5,901


	Performance Share Units	Weighted Average Grant Date Fair Value Per Share
Non-vested share units at December 31, 2024	230	$	4.32
Vested and shares issued	(4)	8.68
Forfeited	(2)	8.68
Non-vested share units at December 31, 2025	224	$	4.20


	Three Months Ended March 31,
	2026		2025
Net sales	$	173,393	$	152,554
Cost of sales	56,097		57,143
Gross profit	117,296		95,411
Transition service agreement income	389		957
Operating expenses:
Selling, general and administrative	67,815		48,153
Research and development	25,088		26,966
Amortization of purchased intangible assets	12,479		12,479
Restructuring cost, net	4,495		1,619
Total operating expenses	109,877		89,217
Operating income	7,808		7,151
Other income (expense), net	427		(667)
Interest income	—		126
Income before income taxes	8,235		6,610
Income tax expense	(1,446)		(1,681)
Net income	$	6,789	$	4,929


	March 31, 2026		December 31, 2025
	(Unaudited)
Assets
Cash and cash equivalents	$	175,300	$	129,492
Accounts receivable, less allowance for doubtful accounts of $234 and $348, respectively	109,401		77,029
Inventories, net	81,686		71,776
Prepaid expenses and other current assets	11,380		7,016
Total current assets	377,767		285,313
Property, plant, and equipment, net of accumulated depreciation of $40,890 and $39,874, respectively	7,882		8,267
Goodwill	376,939		376,939
Other intangible assets, net	107,589		120,068
Deferred income taxes	184,400		185,280
Other noncurrent assets	27,444		28,072
Total assets	$	1,082,021	$	1,003,939
Liabilities and equity
Accounts payable	$	39,745	$	51,924
Accrued and other liabilities	150,450		183,249
Total current liabilities	190,195		235,173
Deferred income taxes	43		43
Other noncurrent liabilities	127,443		122,636
Total liabilities	317,681		357,852
Commitments and contingencies (Note 1)
Equity:
Net parent investment	764,995		647,268
Accumulated other comprehensive loss	(655)		(1,181)
Total equity	764,340		646,087
Total liabilities and equity	$	1,082,021	$	1,003,939


	March 31,		December 31,
	2026		2025
Raw materials	$	2,868	$	2,829
Work in progress	2,544		3,120
Finished goods	76,274		65,827
Total inventories, net	$	81,686	$	71,776


	Restructuring Costs
Balance as of December 31,	$	2,037
Additional expense	2,971
Cash paid	(983)
Balance as of March 31, 2026	$	4,025


	Historical Belden Inc.		Historical RUCKUS		Transaction Accounting Adjustments		Note	Pro Forma Combined

	(In thousands)
ASSETS
Current assets:					4714
Cash and cash equivalents	$	272,151	$	175,300	$	(108,744)	A	$	338,707
Receivables, net	499,090		109,401		14,802		B	623,293
Inventories, net	423,124		81,686		70,286		B,C	575,096
Other current assets	85,522		11,380		4,714		B	101,616

Total current assets	1,279,887		377,767		(18,942)			1,638,712
Property, plant and equipment, less accumulated depreciation	569,389		7,882		11,342		D	588,613
Operating lease right-of-use assets	105,749		22,285		4,404		E	132,438
Goodwill	1,034,037		376,939		362,699		F	1,773,675
Intangible assets, less accumulated amortization	392,431		107,589		932,411		G	1,432,431
Deferred income taxes	14,099		184,400		—			198,499
Other long-lived assets	63,832		5,159		—			68,991
	$	3,459,424	$	1,082,021	$	1,291,914		$	5,833,359

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	326,931	$	39,745	$	—		$	366,676
Accrued liabilities	286,703		150,450		15,989		B, E	453,142
Short-term debt	—		—		13,875		I	13,875
Total current liabilities	613,634		190,195		29,864			833,693
Long-term debt	1,260,359		—		1,792,772		I	3,053,131
Postretirement benefits	62,767		—		—			62,767
Deferred income taxes	112,458		43		242,022		H	354,523
Long-term operating lease liabilities	89,874		22,775		(654)		E	111,995
Other long-term liabilities	37,331		104,668		—			141,999








Total stockholders’ equity	1,283,001		764,340		(772,090)		J	1,275,251
	$	3,459,424	$	1,082,021	$	1,291,914		$	5,833,359


	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	800,000	5.0
Customer relationships	160,000		15.0
Trademarks	80,000		3.0
Total intangible assets subject to amortization	$	1,040,000
Weighted average amortization period			6.4


Cash	$	175,300
Receivables	124,203
Inventory	151,972
Other current assets	16,094
Property, plant and equipment	19,224
Operating lease right-of-use assets	26,689
Goodwill	739,638
Intangible assets	1,040,000
Deferred income taxes	184,400
Other current assets	5,159
Total assets acquired	$	2,482,679

Accounts payable	$	39,745
Accrued liabilities	166,439
Deferred income taxes	242,065
Long-term operating lease liabilities	22,121
Other long-term liabilities	104,668
Total liabilities assumed	$	575,038

Net assets	$	1,907,641