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Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Sep. 29, 2023
Financial Instruments and Fair Value Measurements [Abstract]  
Schedule of Business Acquisitions by Acquisition, Contingent Consideration
Total Contingent Consideration Rollforward
 Beginning Balance  Charges  Interest  Payments Foreign Exchange Ending Balance
(In thousands)
Contingent Consideration$27,809$(832)$1,133$(868)$(741)$26,500
Schedule of Effect of Designated Hedges Instruments on Accumulated Other Comprehensive Income (Loss)
The following table presents the effect of the Company’s designated hedging instruments on Accumulated other comprehensive income (loss) for the three and nine months ended September 29, 2023 and 2022:

Three Months EndedNine Months Ended
September 29, 2023September 30, 2022September 29, 2023September 30, 2022
(In thousands)
Gain (loss) on cross-currency swaps
$5,991 $— $(1,199)$— 
Gain (loss) on forward currency contracts(1,654)— (1,654)— 
$4,337 $— $(2,853)$— 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 29, 2023 and December 31, 2022:

(In thousands)
Location on Unaudited Consolidated Balance Sheets (1)
September 29, 2023December 31, 2022
Derivative Assets
Forward currency contractsOther current assets12 — 
Cross-currency swapsOther current assets7,524 — 
Total Derivative Assets$7,536 $— 
Derivative Liabilities
Forward currency contractsOther current liabilities1,150 — 
Forward currency contractsOther long-term liabilities684 — 
Cross-currency swapsOther long-term liabilities8,723  
Total Derivative Liabilities$10,557 $— 

(1) The Company classifies derivative assets and liabilities as current when the settlement date of the contract is one year or less.