Financing Arrangements (Tables)

3 Months Ended

Apr. 02, 2022

Notes To Financial Statements [Abstract]

Schedule of Long-term Debt Instruments

	Apr 2, 2022		Jan 1, 2022
	(in thousands)
Senior secured revolving credit line	$	871,001	$	683,175
Term loan facility	987,251		993,340
Convertible senior notes	735,234		734,417
Foreign loans	3,271		2,224
Other debt arrangement	1,068		1,138
Total debt	2,597,825		2,414,294
Less:  Current maturities of long-term debt	27,693		27,293
Long-term debt	$	2,570,132	$	2,387,001

Carrying Value And Fair Value Of Long Term Debt, Disclosure

	Apr 2, 2022				Jan 1, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
Total debt excluding convertible senior notes	$	1,862,591	$	1,869,089	$	1,679,877	$	1,686,537

Convertible Debt

The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes:

	Apr 2, 2022		Jan 1, 2022
	(in thousands)
Principal amounts:
Principal	$	747,500	$	747,500
Unamortized issuance costs	(12,266)		(13,083)
Net carrying amount	$	735,234	$	734,417

Schedule of Debt Instruments, Interest Expense

The following table summarizes total interest expense recognized related to the Convertible Notes:

	Three Months Ended
	Apr 2, 2022		Apr 3, 2021
Contractual interest expense	$	1,890	$	1,890
Interest cost related to amortization of issuance costs	902		883
Total interest expense	$	2,792	$	2,773

The estimated fair value of the Convertible Notes was $1.0 billion as of April 2, 2022 and was determined through consideration of quoted market prices. The fair value is classified as Level 2, as defined in Note 1(d), Fair Value Measurements, in these Notes to the Condensed Consolidated Financial Statement. The if-converted value of the Convertible Notes exceeded their respective principal value by $191.0 million as of April 2, 2022.