XML 39 R27.htm IDEA: XBRL DOCUMENT v3.21.2
Subsequent Event
9 Months Ended
Oct. 02, 2021
Subsequent Events [Abstract]  
Subsequent Event Subsequent Events
Acquisition
On October 28, 2021, the Company entered into a definitive agreement to acquire substantially all of Kongsberg Automotive's Interior Comfort Systems business unit ("Kongsberg"). Kongsberg specializes in comfort seating solutions, including massage, lumber, seat heat and ventilation. The transaction is valued at approximately €175 million, on a cash and debt free basis. The acquisition, subject to regulatory approvals and customary closing conditions and adjustments, is expected to close in the first quarter of 2022.
Credit Agreement
See Note 8, "Debt — Credit Agreement — Subsequent Event."