Fair Value Measurements (Tables)

6 Months Ended

Jul. 04, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis

The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of July 4, 2021 and January 3, 2021 classified in one of the three classifications described above:

			Fair Value Measurements at July 4, 2021 Using:
	Total Carrying Value at July 4, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Marketable securities	$	50,100	$	50,100	$	—	$	—
Foreign exchange derivative assets	2,663		—		2,663		—
Foreign exchange derivative liabilities	(13,670)		—		(13,670)		—
Contingent consideration	(3,334)		—		—		(3,334)

			Fair Value Measurements at January 3, 2021 Using:
	Total Carrying Value at January 3, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Marketable securities	$	2,154	$	2,154	$	—	$	—
Foreign exchange derivative assets	31,248		—		31,248		—
Foreign exchange derivative liabilities	(21,413)		—		(21,413)		—
Contingent consideration	(2,953)		—		—		(2,953)

Reconciliation of Beginning and Ending Level 3 Net Liabilities

A reconciliation of the beginning and ending Level 3 net liabilities for contingent consideration is as follows:

	Three Months Ended				Six Months Ended
	July 4, 2021		July 5, 2020		July 4, 2021		July 5, 2020
	(In thousands)
Balance at beginning of period	$	(3,124)	$	(22,777)	$	(2,953)	$	(35,481)
Amounts paid and foreign currency translation	27		9,930		96		10,309
Change in fair value (included within selling, general and administrative expenses)	(237)		(879)		(477)		11,446
Balance at end of period	$	(3,334)	$	(13,726)	$	(3,334)	$	(13,726)