Debt and Credit Sources (Tables)

3 Months Ended

Apr. 03, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes our outstanding debt on our condensed consolidated balance sheets:

	April 3, 2022								January 2, 2022
(In thousands)	Face Value		Short-term		Long-term		Total1, 2		Face Value		Short-term		Long-term		Total1, 2
Recourse Debt:
4.00% convertible debentures due 2023	$	424,991	$	423,987	$	—	$	423,987	$	424,991	$	—	$	423,677	$	423,677
Asset-Backed Loan	60,132		60,019		—		60,019		60,800		60,579		—		60,579
Safe Harbor Loan	47,624		47,306		—		47,306		48,529		47,894		—		47,894
Total recourse debt	$	532,747	$	531,312	$	—	$	531,312	$	534,320	$	108,473	$	423,677	$	532,150
Non-Recourse Debt:
Vendor Financing and Other Debt	$	876	$	538	$	338	$	876	$	1,475	$	1,095	$	380	$	1,475
Total non-recourse debt	876		538		338		876		1,475		1,095		380		1,475
Total	$	533,623	$	531,850	$	338	$	532,188	$	535,795	$	109,568	$	424,057	$	533,625

1 Refers to the total carrying value of the outstanding debt arrangement.

2 See table below for discussion on the fair value of the convertible debt. The carrying value of all of our non-convertible debt approximates the fair value, based on our intention to fully repay or transfer the obligations at their face values plus any applicable interest, and is categorized within Level 3 of the fair value hierarchy.

Schedule of Maturities of Debt

As of April 3, 2022, the aggregate future contractual maturities of our outstanding debt, at face value, were as follows:

(In thousands)	Fiscal 2022 (remaining nine months)		Fiscal 2023		Fiscal 2024		Fiscal 2025		Fiscal 2026		Thereafter		Total
Aggregate future maturities of outstanding debt	$	108,247	$	425,057	$	69	$	73	$	76	$	101	$	533,623

Schedule of Long-Term Convertible Debt Instruments

The following table summarizes our outstanding convertible debt:

	April 3, 2022			January 2, 2022
(In thousands)	Carrying Value	Face Value	Fair Value1	Carrying Value	Face Value	Fair Value1
4.00% debentures due 2023	423,987	424,991	496,205	423,677	424,991	501,489

1 The fair value of the convertible debt was determined using Level 2 inputs based on quarterly market prices as reported by an independent pricing source.