Fair Value Measurements (Tables)

6 Months Ended

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

			Fair Value Measurements at July 3, 2022 Using:
	Total Carrying Value at July 3, 2022		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Marketable securities	$	18,159	$	18,159	$	—	$	—
Foreign exchange derivative assets	922		—		922		—
Foreign exchange derivative liabilities	(923)		—		(923)		—
Contingent consideration	(48,593)		—		—		(48,593)

			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				Six Months Ended
	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
	(In thousands)
Balance at beginning of period	$	(49,828)	$	(3,124)	$	(57,996)	$	(2,953)
Additions	—		—		(4,961)		—
Amounts paid and foreign currency translation	1,904		27		3,326		96
Adjustments recognized in goodwill	—		—		12,400		—
Change in fair value (included within selling, general and administrative expenses)	(669)		(237)		(1,362)		(477)
Balance at end of period	$	(48,593)	$	(3,334)	$	(48,593)	$	(3,334)