Item 4. CONTROLS AND PROCEDURES
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Item 4. CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Under the supervision and with the participation of management, including
our principal executive officer and
principal financial officer, we evaluated the effectiveness of the design and operation of our disclosure controls and
procedures as of the end of the period covered by this quarterly report
as such term is defined in Rules 13a-15(e)
and 15d-15(e) promulgated under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”).
Based
on this evaluation, our management, including our principal executive
officer and principal financial officer,
concluded that our disclosure controls and procedures were effective as of March
28, 2026, to ensure that all
material information required to be disclosed by us in reports that we file
or submit under the Exchange Act is
accumulated and communicated to them as appropriate to allow timely
decisions regarding required disclosure and
that all such information is recorded, processed, summarized and reported
within the time periods specified in the
SEC’s rules and forms, and the rules of the Nasdaq stock exchange.
Changes in Internal Control over Financial Reporting
The combination of acquisitions, continued acquisition integrations and system
implementation activity undertaken
during the quarter ended March 28, 2026, and carried over from prior quarters,
when considered in the aggregate,
represents a material change in our internal control over financial reporting.
During the quarter ended March 28, 2026, we completed the acquisition
of a controlling interest of a Global
Specialty Products segment affiliate and a Global Distribution and Value-Added Services segment business in the
U.S.
Also, post-acquisition integration related activities continued for businesses
acquired during prior quarters
within our Global Specialty Products segment.
These acquisitions, the majority of which utilize separate
information and financial accounting systems, have been included
in our condensed consolidated financial
statements since their respective dates of acquisition.
Additionally, during the quarter ended March 28, 2026, we continued systems implementation activities for the
phased roll-out of a new e-commerce system for our Global Distribution
and Value
-Added Services segment in the
U.S. and Canada.
All acquisitions, continued acquisition integrations, and system implementation
activities involve necessary and
appropriate change-management controls that are considered in our quarterly
assessment of the design and
operating effectiveness of our internal control over financial reporting.
Limitations of the Effectiveness of Internal Control
A control system, no matter how well conceived and operated, can provide
only reasonable, not absolute, assurance
that the objectives of the internal control system are met.
Because of the inherent limitations of any internal control
system, no evaluation of controls can provide absolute assurance that
all control issues, if any, within a company
have been detected.
PART
II.
OTHER INFORMATION
ITEM 1.
LEGAL PROCEEDINGS
For a discussion of Legal Proceedings, see
of the Notes to the Condensed
Consolidated Financial Statements included under Item 1.
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