Fair Value Measurements (Tables)

3 Months Ended

Apr. 03, 2022

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 April 3, 2022 and January 2, 2022 classified in one of the three classifications described above:

			Fair Value Measurements at April 3, 2022 Using:
	Total Carrying Value at April 3, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Marketable securities	$	56,683	$	56,683	$	—	$	—
Foreign exchange derivative assets	229		—		229		—
Foreign exchange derivative liabilities	(1,258)		—		(1,258)		—
Contingent consideration	(49,828)		—		—		(49,828)

			Fair Value Measurements at January 2, 2022 Using:
	Total Carrying Value at January 2, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)
	(In thousands)
Marketable securities	$	53,073	$	53,073	$	—	$	—
Foreign exchange derivative assets	3,765		—		3,765		—
Foreign exchange derivative liabilities	(3,463)		—		(3,463)		—
Contingent consideration	(57,996)		—		—		(57,996)

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
	April 3, 2022		April 4, 2021
	(In thousands)
Balance at beginning of period	$	(57,996)	$	(2,953)
Additions	(4,961)		—
Amounts paid and foreign currency translation	1,422		69
Adjustments recognized in goodwill	12,400		—
Change in fair value (included within selling, general and administrative expenses)	(693)		(240)
Balance at end of period	$	(49,828)	$	(3,124)