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Subsequent Events
9 Months Ended
Oct. 01, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsOn October 18, 2023, the Company acquired all of the outstanding shares of Moritex Corporation, a leading global provider of optics components with a strong presence in Japan, for an enterprise value of ¥40 billion, or approximately $270 million based on closing-date foreign exchange rates, in an all-cash transaction. Given the timing of this acquisition, the Company is in the process of completing the purchase price allocation for the consideration paid. Transaction costs incurred to date were not material and were expensed as incurred. The financial results of Moritex Corporation prior to the acquisition date are not material to the consolidated financial results of the Company.On October 31, 2023, the Company’s Board of Directors declared a cash dividend of $0.075 per share. The dividend is payable on December 1, 2023 to all shareholders of record as of the close of business on November 17, 2023.