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Restructuring and Other Charges | 12 Months Ended
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Jan. 02, 2021
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND OTHER CHARGES | RESTRUCTURING AND OTHER CHARGES Cadence has initiated restructuring plans in an effort to better align its resources with its business strategy. The charges associated with these restructuring plans have primarily been comprised of severance payments and termination benefits related to headcount reductions, estimated lease losses related to facilities vacated and charges related to abandoned assets. During the fourth quarter of fiscal 2020, Cadence initiated a restructuring plan (the “2020 Restructuring Plan”) and recorded restructuring and other charges of $10.8 million related to severance payments, termination benefits and charges related to vacated facilities. As of January 2, 2021, total liabilities related to the 2020 Restructuring Plan were $8.6 million. Cadence has also initiated restructuring plans in prior years, including both fiscal 2019 and fiscal 2018 (the “prior restructuring plans”). During fiscal 2020, Cadence revised certain estimates made in connection with the prior restructuring plans and recorded credits of $1.6 million. As of January 2, 2021, total liabilities related to the prior restructuring plans were $0.1 million. The following table presents activity for Cadence’s restructuring plans during fiscal 2020, 2019 and 2018:
| Severance and Benefits |  | Excess Facilities |  | Total
| (In thousands)
Balance, December 30, 2017 | $ | 13,535 |  |  | $ | 249 |  |  | $ | 13,784 |
Restructuring and other charges, net | 10,268 |  |  | 821 |  |  | 11,089 |
Cash payments | (12,688) |  |  | (192) |  |  | (12,880) |
Effect of foreign currency translation | 61 |  |  | (30) |  |  | 31 |
Balance, December 29, 2018 | $ | 11,176 |  |  | $ | 848 |  |  | $ | 12,024 |
Restructuring and other charges, net | 8,649 |  |  | (28) |  |  | 8,621 |
Cash payments | (10,714) |  |  | (420) |  |  | (11,134) |
Effect of foreign currency translation | 118 |  |  | 9 |  |  | 127 |
Balance, December 28, 2019 | $ | 9,229 |  |  | $ | 409 |  |  | $ | 9,638 |
Restructuring and other charges , net | 7,476 |  |  | 1,739 |  |  | 9,215 |
Cash payments | (9,424) |  |  | (773) |  |  | (10,197) |
Effect of foreign currency translation | 40 |  |  | (3) |  |  | 37 |
Balance, January 2, 2021 | $ | 7,321 |  |  | $ | 1,372 |  |  | $ | 8,693 |
The remaining liability for Cadence’s restructuring plans is recorded in the consolidated balance sheet as follows:
| As of
| January 2, 2021
| (In thousands)
Accounts payable and accrued liabilities | $ | 8,653 |
Other long-term liabilities | 40 |
Total liabilities | $ | 8,693 |
All liabilities for severance and related benefits under Cadence’s restructuring plans are included in accounts payable and accrued liabilities on Cadence’s consolidated balance sheet as of January 2, 2021. Restructuring liabilities included in other long-term liabilities represent liabilities from vacated facilities, and Cadence expects to make cash payments to settle these liabilities through fiscal 2022.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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