BUSINESS ACQUISITION AND DIVESTITURES (Tables)

9 Months Ended

Oct. 03, 2021

Business Combinations [Abstract]

Schedule of Purchase Consideration Allocation to Assets Acquired and Liabilities Assumed

The purchase consideration, inclusive of the acquisition date fair value of the contingent consideration, was allocated to assets acquired and liabilities assumed based on their respective fair values as follows:

	Initial Allocation (1)		Adjustments		Updated Allocation
Goodwill	$	174,516	$	1,310	$	175,826
Other intangible assets	235,800		—		235,800
Other assets acquired, primarily current assets	30,383		2,709		33,092
Other liabilities assumed, primarily current liabilities	(9,620)		—		(9,620)
Deferred income taxes	(7,888)		—		(7,888)
Net assets acquired	$	423,191	$	4,019	$	427,210

(1)As reported in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 4, 2021.