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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis | The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2024 and December 31, 2023 classified in one of the three classifications described above:
|  |  | Fair Value Measurements at June 30, 2024 Using:
| Total Carrying Value at June 30, 2024 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (In thousands)
Marketable securities - available for sale | $ | 24,016 |  |  | $ | 24,016 |  |  | $ | — |  |  | $ | — |
Foreign exchange derivative assets | 1,025 |  |  | — |  |  | 1,025 |  |  | — |
Foreign exchange derivative liabilities | (693) |  |  | — |  |  | (693) |  |  | — |
Contingent consideration asset | 14,890 |  |  | — |  |  | — |  |  | 14,890 |
Contingent consideration liabilities | (30,540) |  |  | — |  |  | — |  |  | (30,540) |
|  |  | Fair Value Measurements at December 31, 2023 Using:
| Total Carrying Value at December 31, 2023 |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (In thousands)
Marketable securities - available for sale | $ | 13,913 |  |  | $ | 13,913 |  |  | $ | — |  |  | $ | — |
Foreign exchange derivative assets | 1,697 |  |  | — |  |  | 1,697 |  |  | — |
Foreign exchange derivative liabilities | (1,763) |  |  | — |  |  | (1,763) |  |  | — |
Contingent consideration asset | 14,890 |  |  | — |  |  | — |  |  | 14,890 |
Contingent consideration liabilities | (40,005) |  |  | — |  |  | — |  |  | (40,005) |
Reconciliation of Beginning and Ending Level 3 Net Liabilities | A reconciliation of the beginning and ending Level 3 contingent consideration liabilities is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
| (In thousands)
Balance at beginning of period | $ | (30,516) |  |  | $ | (43,834) |  |  | $ | (40,005) |  |  | $ | (46,618) |
Amounts paid and foreign currency translation | 152 |  |  | 8,718 |  |  | 15,814 |  |  | 10,142 |
Change in fair value (included within selling, general and administrative expenses) | (176) |  |  | (2,445) |  |  | (6,349) |  |  | (1,085) |
Balance at end of period | $ | (30,540) |  |  | $ | (37,561) |  |  | $ | (30,540) |  |  | $ | (37,561) |
Reconciliation of Beginning and Ending Level 3 Net Assets | A reconciliation of the beginning and ending Level 3 asset for contingent consideration is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
| (In thousands)
Balance at beginning of period | $ | 14,890 |  |  | $ | 15,930 |  |  | $ | 14,890 |  |  | $ | — |
Amount recognized upon the sale of the Business | — |  |  | — |  |  | — |  |  | 15,930 |
Change in fair value | — |  |  | — |  |  | — |  |  | — |
Balance at end of period | $ | 14,890 |  |  | $ | 15,930 |  |  | $ | 14,890 |  |  | $ | 15,930 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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