Inventories

6 Months Ended

Jul. 02, 2022

Notes To Financial Statements [Abstract]

Inventories

Inventories

Inventories are composed of material, labor and overhead and are stated at the lower of cost or net realizable value. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at July 2, 2022 and January 1, 2022 are as follows (in thousands): 

	Jul 2, 2022		Jan 1, 2022
Raw materials and parts	$	548,073	$	421,361
Work-in-process	80,328		65,581
Finished goods	380,519		350,476
	$	1,008,920	$	837,418