XML 38 R23.htm IDEA: XBRL DOCUMENT v3.24.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 30, 2023
Accounting Policies [Abstract]  
Summary of Carrying Amounts and Fair Values of Financial Instruments The carrying amounts and fair values of the Company’s financial instruments are as follows:

 

 

 

December 30, 2023

 

 

December 31, 2022

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Carrying
Amount

 

 

Fair
Value

 

Cash and cash equivalents

 

$

1,693,452

 

 

$

1,693,452

 

 

$

1,279,194

 

 

$

1,279,194

 

Marketable securities

 

$

1,399,809

 

 

$

1,399,809

 

 

$

1,381,648

 

 

$

1,381,648

 
Schedule of Inventory Inventories consisted of the following:

 

 

 

 

December 30, 2023

 

 

December 31, 2022

 

Raw materials

 

$

493,493

 

 

$

600,858

 

Work-in-process

 

 

160,919

 

 

 

180,873

 

Finished goods

 

 

691,543

 

 

 

733,314

 

Inventories

 

$

1,345,955

 

 

$

1,515,045

 
Schedule of Property and Equipment The components of property and equipment were as follows and are generally depreciated over the following estimated useful lives:

 

 

 

Estimated Useful Life

 

December 30, 2023

 

 

December 31, 2022

 

Land

 

 

 

$

201,287

 

 

$

193,861

 

Building and improvements

 

15 to 50 years

 

 

934,837

 

 

 

856,722

 

Machinery, equipment and software

 

3 to 10 years

 

 

1,118,561

 

 

 

1,001,344

 

Total, at cost

 

 

 

 

2,254,685

 

 

 

2,051,927

 

Accumulated depreciation

 

 

 

 

(1,030,588

)

 

 

(904,922

)

Property and equipment, net

 

 

 

$

1,224,097

 

 

$

1,147,005

 
Schedule of Intangible Assets The Company allocates goodwill to reporting units in proportion to the expected benefit from each business combination. Changes in the carrying amount of goodwill for the years ended December 30, 2023 and December 31, 2022 are as follows:

 

 

 

Fitness

 

 

Outdoor

 

 

Aviation

 

 

Marine

 

 

Auto OEM

 

 

Total

 

Goodwill balance as of December 25, 2021

 

$

255,872

 

 

$

178,955

 

 

$

60,347

 

 

$

79,906

 

 

$

—

 

 

$

575,080

 

Acquisitions

 

 

—

 

 

 

2,518

 

 

 

—

 

 

 

7,340

 

 

 

—

 

 

 

9,858

 

Foreign currency translation and other adjustments

 

 

(11,570

)

 

 

(3,129

)

 

 

—

 

 

 

(2,245

)

 

 

—

 

 

 

(16,944

)

Goodwill balance as of December 31, 2022

 

$

244,302

 

 

$

178,344

 

 

$

60,347

 

 

$

85,001

 

 

$

—

 

 

$

567,994

 

Acquisitions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

32,014

 

 

 

—

 

 

 

32,014

 

Foreign currency translation and other adjustments

 

 

6,078

 

 

 

1,400

 

 

 

—

 

 

 

988

 

 

 

—

 

 

 

8,466

 

Goodwill balance as of December 30, 2023

 

$

250,380

 

 

$

179,744

 

 

$

60,347

 

 

$

118,003

 

 

$

—

 

 

$

608,474

 
Schedule of Product Warranty The following reconciliation presents details of the changes in the Company’s accrued warranty costs:

 

 

 

Fiscal Year Ended

 

 

 

December 30, 2023

 

 

December 31, 2022

 

 

December 25, 2021

 

Balance - beginning of period

 

$

50,952

 

 

$

45,467

 

 

$

42,643

 

Accrual for products sold (1)

 

 

79,637

 

 

 

72,821

 

 

 

69,810

 

Expenditures

 

 

(74,851

)

 

 

(67,336

)

 

 

(66,986

)

Balance - end of period

 

$

55,738

 

 

$

50,952

 

 

$

45,467

 

 

(1) Changes in cost estimates related to pre-existing warranties were not material and aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.