Fair Value Measurements (Tables)

9 Months Ended

Oct. 03, 2021

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 October 3, 2021 and January 3, 2021 classified in one of the three classifications described above:


			Fair Value Measurements at October 3, 2021 Using:
	Total Carrying Value at October 3, 2021		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Marketable securities	$	45,744	$	45,744	$	—	$	—
Foreign exchange derivative assets	808		—		808		—
Foreign exchange derivative liabilities	(21,294)		—		(21,294)		—
Contingent consideration	(37,225)		—		—		(37,225)


			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				Nine Months Ended
	October 3, 2021		October 4, 2020		October 3, 2021		October 4, 2020
	(In thousands)
Balance at beginning of period	$	(3,334)	$	(13,726)	$	(2,953)	$	(35,481)
Additions	(33,431)		—		(33,431)		—
Amounts paid and foreign currency translation	615		(144)		711		10,165
Reclassified to other current liabilities for achieved milestones	—		13,692		—		13,692
Change in fair value (included within selling, general and administrative expenses)	(1,075)		(2,639)		(1,552)		8,807
Balance at end of period	$	(37,225)	$	(2,817)	$	(37,225)	$	(2,817)