Subsequent Events

6 Months Ended

Jul. 03, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In July 2022, the Company was notified by the Canadian Revenue Agency ("CRA") that the CRA intends to challenge certain tax positions for the 2013-2017 tax years. The Company believes that the amount of the reassessment would be less than $20 million. The Company intends to appeal any such reassessment as it believes its tax positions are more-likely-than-not to be sustained upon final adjudication of the dispute.

In July 2022, the Company acquired a majority interest in Noiseless Acoustics Oy ("NL Acoustics") for an immaterial amount. NL Acoustics, located in Helsinki, Finland, designs and manufactures acoustics imaging instruments and predictive maintenance solutions. NL Acoustics will be part of the Digital Imaging segment.