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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 28, 2024
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 28, 2024

 

 

December 30, 2023

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Carrying
Amount

 

 

Fair
Value

 

Cash and cash equivalents

 

$

2,079,468

 

 

$

2,079,468

 

 

$

1,693,452

 

 

$

1,693,452

 

Marketable securities

 

$

1,619,601

 

 

$

1,619,601

 

 

$

1,399,809

 

 

$

1,399,809

 
Schedule of Inventory Inventories consisted of the following:

 

 

 

 

December 28, 2024

 

 

December 30, 2023

 

Raw materials

 

$

522,210

 

 

$

493,493

 

Work-in-process

 

 

219,294

 

 

 

160,919

 

Finished goods

 

 

732,474

 

 

 

691,543

 

Inventories

 

$

1,473,978

 

 

$

1,345,955

 
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 28, 2024

 

 

December 30, 2023

 

Land

 

 

 

$

184,884

 

 

$

201,287

 

Building and improvements

 

15 to 50 years

 

 

982,494

 

 

 

934,837

 

Machinery, equipment and software

 

3 to 10 years

 

 

1,208,662

 

 

 

1,118,561

 

Total, at cost

 

 

 

 

2,376,040

 

 

 

2,254,685

 

Accumulated depreciation

 

 

 

 

(1,139,156

)

 

 

(1,030,588

)

Property and equipment, net

 

 

 

$

1,236,884

 

 

$

1,224,097

 
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 28, 2024 and December 30, 2023 are as follows:

 

 

 

Fitness

 

 

Outdoor

 

 

Aviation

 

 

Marine

 

 

Auto OEM

 

 

Total

 

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

 

Acquisitions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12,281

 

 

 

—

 

 

 

12,281

 

Foreign currency translation and other adjustments

 

 

(11,417

)

 

 

(2,747

)

 

 

—

 

 

 

(2,644

)

 

 

—

 

 

 

(16,808

)

Goodwill balance as of December 28, 2024

 

$

238,963

 

 

$

176,997

 

 

$

60,347

 

 

$

127,640

 

 

$

—

 

 

$

603,947

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

 

 

 

Fiscal Year Ended

 

 

 

December 28, 2024

 

 

December 30, 2023

 

 

December 31, 2022

 

Balance - beginning of period

 

$

55,738

 

 

$

50,952

 

 

$

45,467

 

Accrual for products sold (1)

 

 

89,804

 

 

 

79,637

 

 

 

72,821

 

Expenditures

 

 

(83,069

)

 

 

(74,851

)

 

 

(67,336

)

Balance - end of period

 

$

62,473

 

 

$

55,738

 

 

$

50,952

 

 

(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.