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Cash, Cash Equivalents and Restricted Cash | 3 Months Ended
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Apr. 01, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract] |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy | RESTRICTED CASH The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sum to the total of the same amounts shown in the condensed consolidated statement of cash flows.
(In thousands) | April 1, 2023 |  | December 31, 2022
Cash and cash equivalents | $ | 707,838 |  |  | $ | 561,559 |
Restricted cash | 1,194 |  |  | 1,880 |
Total cash, cash equivalents and restricted cash | $ | 709,032 |  |  | $ | 563,439 |
The restricted cash represents cash held in a “Rabbi” trust. Prior to the acquisition of CMC Materials, CMC Materials’ change in control severance protection agreements required CMC Materials to establish a Rabbi trust prior to a change in control and fully fund the trust to cover all the severance benefits that may become payable under the agreements.
Restricted Assets Disclosure | The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sum to the total of the same amounts shown in the condensed consolidated statement of cash flows.
(In thousands) | April 1, 2023 |  | December 31, 2022
Cash and cash equivalents | $ | 707,838 |  |  | $ | 561,559 |
Restricted cash | 1,194 |  |  | 1,880 |
Total cash, cash equivalents and restricted cash | $ | 709,032 |  |  | $ | 563,439 |
The restricted cash represents cash held in a “Rabbi” trust.

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- Definition Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-1 + Details
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- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. + References No definition available. + Details
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