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VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS
 6 Months Ended
Jun. 29, 2024
Equity Method Investments and Joint Ventures [Abstract]  
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS
Venture capital investments are summarized below:
Six Months Ended
June 29, 2024July 1, 2023
(in thousands)
Beginning balance$121,158 $129,012 
Capital contributions6,479 8,702 
Distributions(16,100)(9,679)
Gains (losses)
1,789 (8,429)
Foreign currency translation(249)466 
Ending balance$113,077 $120,072 
The Company also invests, with minority positions, directly in equity of predominantly privately held companies. Strategic investments are summarized below:
Six Months Ended
June 29, 2024July 1, 2023
(in thousands)
Beginning balance$122,653 $182,590 
Purchase of investments2,140 13,710 
Distributions— (4,146)
Gain (loss)
(5,265)3,253 
Reduction for acquisition of entity (1)
— (12,635)
Foreign currency translation(746)(2,563)
Ending balance$118,782 $180,209 
(1) Refer to Note 2. Acquisitions for further discussion on the acquisition of SAMDI.