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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jan. 02, 2021
Accounting Policies [Abstract]  
Schedule of Inventory, Current Inventories at January 2, 2021 and December 28, 2019 are as follows (in thousands):
 
 20202019
Raw materials and parts$263,200 $277,394 
Work in process55,104 58,663 
Finished goods221,894 249,642 
 $540,198 $585,699 
Property, Plant and Equipment
Property, plant and equipment are carried at cost as follows (in thousands):
 20202019
Land$40,707 $43,467 
Building and improvements245,435 229,025 
Furniture and fixtures68,063 67,992 
Machinery and equipment220,148 209,290 
 574,353 549,774 
Less accumulated depreciation(229,871)(197,629)
 $344,482 $352,145 
Schedule Of Useful Lives For Property Plant Equipment
Following is a summary of the estimated useful lives:
Description Life
Building and improvements 
20 to 40 years
Furniture and fixtures 
3 to 7 years
Machinery and equipment 
3 to 10 years
Schedule of Goodwill
Goodwill is allocated to the business segments as follows (in thousands):
Commercial
Foodservice
Food
Processing
Residential KitchenTotal
Balance as of December 29, 2018$1,102,067 $219,054 $422,054 $1,743,175 
Goodwill acquired during the year81,339 43,613 9,503 134,455 
Measurement period adjustments to goodwill acquired in prior year(27,929)(3,722)— (31,651)
Exchange effect(1,925)(1,266)6,959 3,768 
Balance as of December 28, 2019$1,153,552 $257,679 $438,516 $1,849,747 
Goodwill acquired during the year56,773 — — 56,773 
Measurement period adjustments to goodwill acquired in prior year(56)(8,732)1,770 (7,018)
Exchange effect18,167 6,851 9,741 34,759 
Balance as of January 2, 2021$1,228,436 $255,798 $450,027 $1,934,261 
Schedule Of Intangible Assets By Major Class
Intangible assets consist of the following (in thousands):
 January 2, 2021December 28, 2019
Estimated
Weighted Avg
Remaining
Life
Gross
Carrying
Amount
Accumulated
Amortization
Estimated
Weighted Avg
Remaining
Life
Gross
Carrying
Amount
Accumulated
Amortization
Amortized intangible assets:       
Customer relationships8.5$735,264 $(347,029)9.2$717,397 $(283,846)
Backlog0.334,729 (31,924)1.329,426 (28,283)
Developed technology10.056,931 (24,394)5.232,999 (21,378)
  $826,924 $(403,347) $779,822 $(333,507)
Indefinite-lived assets:      
Trademarks and tradenames $1,026,804   $997,066  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The estimated future amortization expense of intangible assets is as follows (in thousands):
2021$68,413 
202262,050 
202356,058 
202444,587 
202538,226 
2026 and thereafter154,243 
 $423,577 
Schedule of Accrued Liabilities
Accrued expenses consist of the following at January 2, 2021 and December 28, 2019, respectively (in thousands):
 
 20202019
Accrued payroll and related expenses$93,926 $80,621 
Contract liabilities93,871 74,511 
Accrued warranty69,667 66,374 
Accrued customer rebates43,703 51,709 
Accrued short-term leases22,493 21,827 
Accrued liabilities held for sale22,313 — 
Accrued sales and other tax22,030 19,862 
Accrued interest rate swaps14,075 — 
Accrued product liability and workers compensation12,909 15,164 
Accrued professional fees12,133 13,368 
Accrued agent commission11,105 13,816 
Accrued restructuring2,686 1,121 
Other accrued expenses73,630 58,177 
 $494,541 $416,550 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table summarizes the components of accumulated other comprehensive income (loss) as reported in the consolidated balance sheets (in thousands):
 20202019
Unrecognized pension benefit costs, net of tax of $(89,059) and $(48,633)
$(400,919)$(228,336)
Unrealized gain on interest rate swap, net of tax of $(13,120) and $(5,973)
(37,548)(16,892)
Currency translation adjustments(49,961)(105,705)
 $(488,428)$(350,933)
 
Changes in accumulated other comprehensive income (loss) (1) were as follows (in thousands):
Currency Translation AdjustmentPension Benefit CostsUnrealized Gain/(Loss) Interest Rate SwapTotal
Balance as of December 29, 2018$(112,771)$(170,938)$7,233 $(276,476)
Adoption of ASU 2017-12 (2)
— — 11 11 
Other comprehensive income before reclassification7,066 (59,238)(22,880)(75,052)
Amounts reclassified from accumulated other comprehensive income— 1,840 (1,256)584 
Net current-period other comprehensive income$7,066 $(57,398)$(24,125)$(74,457)
Balance as of December 28, 2019$(105,705)$(228,336)$(16,892)$(350,933)
Other comprehensive income before reclassification55,744 (174,826)(36,170)(155,252)
Amounts reclassified from accumulated other comprehensive income— 2,243 15,514 17,757 
Net current-period other comprehensive income$55,744 $(172,583)$(20,656)$(137,495)
Balance as of January 2, 2021$(49,961)$(400,919)$(37,548)$(488,428)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The company’s financial assets and liabilities that are measured at fair value are categorized using the fair value hierarchy at January 2, 2021 and December 28, 2019 are as follows (in thousands):
Fair Value
Level 1
Fair Value
Level 2
Fair Value
Level 3
Total
As of January 2, 2021    
Financial Liabilities:    
Interest rate swaps$— $51,093 $— $51,093 
Contingent consideration$— $— $25,558 $25,558 
Foreign exchange derivative contracts$— $2,191 $— $2,191 
As of December 28, 2019    
Financial Assets:
Interest rate swaps$— $1,830 $— $1,830 
Financial Liabilities:    
Interest rate swaps$— $25,120 $— $25,120 
Contingent consideration$— $— $6,697 $6,697 
Foreign exchange derivative contracts$— $901 $— $901 
Schedule of Product Warranty Liability
A rollforward of the warranty reserve for the fiscal years 2020 and 2019 are as follows (in thousands):
 20202019
Beginning balance$66,374 $59,451 
Warranty reserve related to acquisitions1,485 7,353 
Warranty expense58,047 68,842 
Warranty claims paid(56,239)(69,272)
Ending balance$69,667 $66,374