XML 42 R31.htm IDEA: XBRL DOCUMENT v3.21.1

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 03, 2021

Accounting Policies [Abstract]

Property, Plant and Equipment

Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over estimated useful lives as follows:

			Useful Lives
Building and building improvements			7 to 39 years
Computer equipment and software			2 to 12 years
Demonstration units			3 years
Furniture and office equipment			2 to 6 years
Leasehold improvements			Lesser of useful life or term of lease
Machinery, equipment and tooling			3 to 10 years
Transportation, vehicles and other			4 to 20 years

Property and equipment, net, consists of the following (in thousands):

			April 3, 2021						January 2, 2021
Building and building improvements			$	141,219					$	122,310
Machinery, equipment and tooling			95,828						90,843
Land			57,002						57,151
Transportation, vehicles and other			33,133						33,175
Computer equipment and software			25,142						24,693
Leasehold improvements			19,847						19,295
Furniture and office equipment			14,057						13,567
Demonstration units			1,016						1,024
Construction-in-progress (CIP)			25,869						44,589
Total property and equipment			413,113						406,647
Accumulated depreciation			(138,543)						(134,136)
Property and equipment, net			$	274,570					$	272,511

Changes in Product Warranty Accrual

Changes in the product warranty accrual were as follows (in thousands):

			Three Months Ended
			April 3, 2021						March 28, 2020
Warranty accrual, beginning of period			$	2,740					$	3,395
Accrual for warranties issued			1,112						117
Changes in pre-existing warranties (including changes in estimates)			(733)						(105)
Settlements made			(406)						(241)
Warranty accrual, end of period			$	2,713					$	3,166

Reconciliation of Basic and Diluted Net Income Per Share

A computation of basic and diluted net income per share is as follows (in thousands, except per share data):

			Three Months Ended
			April 3, 2021						March 28, 2020
Net income			$	53,383					$	64,456
Basic net income per share:
Weighted-average shares outstanding - basic			55,200						53,867
Net income per basic share			$	0.97					$	1.20
Diluted net income per share:
Weighted-average shares outstanding - basic			55,200						53,867
Diluted share equivalent: stock options, RSUs and PSUs			2,701						3,718
Weighted-average shares outstanding - diluted			57,901						57,585
Net income per diluted share			$	0.92					$	1.12

Supplemental Cash Flow Information

Supplemental cash flow information includes the following (in thousands):

			Three Months Ended
			April 3, 2021						March 28, 2020
Cash paid during the year for:
Interest expense			$	66					$	66
Income taxes			1,118						3,886
Operating lease liabilities			1,763						1,463
Non-cash operating activities:
ROU assets obtained in exchange for lease liabilities			$	3,316					$	8,144
Non-cash investing activities:
Unpaid purchases of property and equipment			$	1,608					$	4,240
Deposit release to acquire noncontrolling interest(1)			3,374						—
Non-cash financing activities:
Unsettled common stock proceeds from option exercises			$	142					$	466
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents			$	551,992					$	605,916
Restricted cash			2,224						376
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows			$	554,216					$	606,292

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of supplemental cash flow information for the periods presented.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249

+ Details

Name:	us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration