Inventories

9 Months Ended

Oct. 01, 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 October 1, 2022 and January 1, 2022 are as follows (in thousands): 

	Oct 1, 2022		Jan 1, 2022
Raw materials and parts	$	569,965	$	421,361
Work-in-process	95,952		65,581
Finished goods	396,717		350,476
	$	1,062,634	$	837,418