Employee Benefit Plans (Tables)

12 Months Ended

Dec. 30, 2022

Schedule of Defined Contribution, Net of Forfeitures, 401(k) Plan

The Company’s contributions, net of forfeitures, to the 401(k) Plan were as follows (in thousands):

	Years Ended
	2022		2021		2020
Employer contributions, net of forfeitures	$	2,004	$	1,563	$	1,281

Swiss Plan

Schedule of Defined Benefit Plans Disclosures

The following table shows the changes in the benefit obligation and plan assets and the Swiss Plan’s funded status (in thousands):

	2022			2021
Change in Projected Benefit Obligation:
Projected benefit obligation, beginning of period	$	26,247		$	25,470
Service cost		1,133			1,089
Interest cost		82			55
Participant contributions		772			678
Benefits deposited (paid)		208			2,147
Actuarial (gain) loss		(6,979	)		(1,875	)
Prior service credit		—			(1,317	)
Projected benefit obligation, end of period	$	21,463		$	26,247
Change in Plan Assets:
Plan assets at fair value, beginning of period	$	18,809		$	15,551
Actual return on plan assets (including foreign currency impact)		12			(374	)
Employer contributions		908			807
Participant contributions		772			678
Benefits deposited (paid)		208			2,147
Plan assets at fair value, end of period	$	20,709		$	18,809
Funded status (pension liability), end of year(1)	$	(754	)	$	(7,438	)
Amount Recognized in Accumulated Other Comprehensive Income    (Loss), net of tax:
Actuarial loss on plan assets	$	(1,354	)	$	(922	)
Actuarial loss on benefit obligation		(531	)		(6,782	)
Actuarial gain recognized in current year		1,847			1,499
Prior service credit		1,283			1,443
Effect of curtailments		610			610
Accumulated other comprehensive loss	$	1,855		$	(4,152	)
Accumulated benefit obligation at year end	$	(20,784	)	$	(25,179	)

⁽¹⁾ The underfunded balance was included in pension liability on the Consolidated Balance Sheets.

Schedule of Net Benefit Costs

Net periodic pension cost associated with the Swiss Plan included the following components (in thousands):

	Years Ended
	2022			2021			2020
Service cost(1)	$	1,133		$	1,089		$	1,139
Interest cost(2)		82			55			51
Expected return on plan assets(2)		(494	)		(434	)		(264	)
Prior service credit(2),(3)		(179	)		(42	)		(34	)
Actuarial loss recognized in current period(2),(3)		390			524			318
Net periodic pension cost	$	932		$	1,192		$	1,210

⁽¹⁾ Recognized in selling general and administrative expenses on the Consolidated Statements of Income.

⁽²⁾ Recognized in other income (expense), net, on the Consolidated Statements of Income.

⁽³⁾ Amounts reclassified from accumulated other comprehensive income (loss).

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss), net of tax, associated with the Swiss Plan included the following components (in thousands):

	Years Ended
	2022			2021			2020
Current year actuarial gain (loss) on plan assets	$	(432	)	$	(724	)	$	833
Current year actuarial gain (loss) on benefit obligation		6,251			1,671			(4,136	)
Actuarial gain recorded in current year		348			470			285
Prior service credit		(160	)		1,142			43
Effect of curtailments		—			—			1
Change in other comprehensive gain (loss)	$	6,007		$	2,559		$	(2,974	)

Schedule of Assumptions Used

Net periodic pension cost and projected and accumulated pension obligation for the Company’s Swiss Plan were calculated using the following assumptions:

	2022			2021
Discount rate		2.2	%		0.3	%
Salary increases		2.0	%		2.0	%
Expected return on plan assets		2.5	%		2.5	%
Expected average remaining working lives in years		9.3			9.3

Schedule of Changes in Fair Value of Plan Assets

The table below sets forth the fair value of Plan assets at December 31, 2021 and December 30, 2022, and the related activity in years ended 2022 and 2021 (in thousands):

	Insurance Contracts (Level 3)
Ending balance at January 1, 2021	$	15,551
Actual return on plan assets		(374	)
Purchases, sales, and settlement		3,632
Ending balance at December 31, 2021	$	18,809
Actual return on plan assets		12
Purchases, sales, and settlement		1,888
Ending balance at December 30, 2022	$	20,709

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Swiss Plan are as follows (in thousands):

Year Ended	Amount
2023	$	107
2024		127
2025		150
2026		176
2027		194
Thereafter		—
Total	$	754

Japan Plan

Schedule of Defined Benefit Plans Disclosures

The funded status of the benefit plan was as follows (in thousands): 

	2022			2021
Change in Projected Benefit Obligation:
Projected benefit obligation, beginning of period	$	1,320		$	2,021
Service cost		116			177
Interest cost		2			6
Actuarial (gain) loss		(42	)		(276	)
Benefits paid		(46	)		(425	)
Foreign exchange adjustment		(169	)		(183	)
Projected benefit obligation, end of period	$	1,181		$	1,320
Change in Plan Assets:
Plan assets at fair value, beginning of period	$	—		$	—
Actual return on plan assets		—			—
Employer contributions		—			—
Benefits paid		—			—
Distribution of plan assets		—			—
Foreign exchange adjustment		—			—
Plan assets at fair value, end of period	$	—		$	—
Funded status (pension liability), end of year(1)	$	(1,181	)	$	(1,320	)
Amount Recognized in Accumulated Other Comprehensive Income    (Loss), net of tax:
Actuarial loss	$	(30	)	$	(35	)
Prior service cost		4			6
Net gain		210			221
Accumulated other comprehensive income	$	184		$	192
Accumulated benefit obligation at year end	$	(1,134	)	$	(1,280	)

⁽¹⁾ The underfunded balance was included in pension liability on the Consolidated Balance Sheets.

Schedule of Net Benefit Costs

Net periodic pension cost associated with the Japan Plan included the following components (in thousands):

	Years Ended
	2022			2021		2020
Service cost(1)	$	116		$	177	$	180
Interest cost(2)		2			6		5
Prior service credit(2),(3)		(24	)		5		(1	)
Net periodic pension cost	$	94		$	188	$	184

⁽¹⁾ Recognized in selling general and administrative expenses on the Consolidated Statements of Income.

⁽²⁾ Recognized in other income (expense), net, on the Consolidated Statements of Income.

⁽³⁾ Amounts reclassified from accumulated other comprehensive loss.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss), net of tax, associated with the Japan Plan include the following components (in thousands):

	Years Ended
	2022			2021			2020
Amortization of actuarial loss	$	5		$	3		$	(1	)
Prior service cost		(2	)		(1	)		—
Actuarial income (loss) recorded in current year		(11	)		175			(22	)
Change in other comprehensive income (loss)	$	(8	)	$	177		$	(23	)

Schedule of Assumptions Used

Net periodic pension cost and projected and accumulated pension obligation for the Company’s Japan Plan were calculated using the following assumptions:

	2022			2021
Discount rate		0.4	%		0.2	%
Salary increases		3.8	%		1.8	%
Expected return on plan assets	N/A			N/A
Expected average remaining working lives in years		10.2			9.7

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Japan Plan are as follows (in thousands):

Year Ended	Amount
2023	$	107
2024		151
2025		162
2026		104
2027		166
Thereafter		491
Total	$	1,181