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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 01, 2022

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
Buildings 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):

			January 1, 2022						January 2, 2021
Building and building improvements			$	142,132					$	122,310
Machinery, equipment and tooling			103,451						90,843
Land			57,027						57,151
Transportation, vehicles and other			33,082						33,175
Computer equipment and software			32,450						24,693
Leasehold improvements			21,894						19,295
Furniture and office equipment			14,200						13,567
Demonstration units			949						1,024
Construction-in-progress (CIP)			25,109						44,589
Total property and equipment			430,294						406,647
Accumulated depreciation			(157,501)						(134,136)
Property and equipment, net			$	272,793					$	272,511

Changes in Product Warranty Accrual

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

			Year Ended
			January 1, 2022						January 2, 2021						December 28, 2019
Warranty accrual, beginning of period			$	2,740					$	3,395					$	1,910
Accrual for warranties issued			2,219						832						1,715
Changes in pre-existing warranties (including changes in estimates)			(1,439)						196						1,130
Settlements made			(1,033)						(1,683)						(1,360)
Warranty accrual, end of period			$	2,487					$	2,740					$	3,395

Reconciliation of Basic Diluted Net Income Per Share

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

			Year Ended
			January 1, 2022						January 2, 2021						December 28, 2019
Net income:			$	229,647					$	240,282					$	196,216
Basic net income per share:
Weighted-average shares outstanding - basic			55,166						54,700						53,434
Net income per basic share			$	4.16					$	4.39					$	3.67
Diluted net income per share:
Weighted-average shares outstanding - basic			55,166						54,700						53,434
Diluted share equivalents: stock options, RSUs and PSUs			2,516						3,337						3,666
Weighted-average shares outstanding - diluted			57,682						58,037						57,100
Net income per diluted share			$	3.98					$	4.14					$	3.44

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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.

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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))
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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.

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-Publisher FASB
-Name Accounting Standards Codification
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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.

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