Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 02, 2022

Accounting Policies [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands):

	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of April 2, 2022
Financial Assets:
Interest rate swaps	$	—	$	26,124	$	—	$	26,124
Financial Liabilities:
Interest rate swaps	$	—	$	2,106	$	—	$	2,106
Contingent consideration	$	—	$	—	$	35,108	$	35,108
Foreign exchange derivative contracts	$	—	$	3,033	$	—	$	3,033
As of January 1, 2022
Financial Assets:
Interest rate swaps	$	—	$	3,645	$	—	$	3,645
Foreign exchange derivative contracts	$	—	$	1,095	$	—	$	1,095
Financial Liabilities:
Interest rate swaps	$	—	$	21,635	$	—	$	21,635
Contingent consideration	$	—	$	—	$	34,983	$	34,983