XML 81 R40.htm IDEA: XBRL DOCUMENT v3.25.4

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 03, 2026

Accounting Policies [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables represent the Company’s financial assets, measured at fair value on a recurring basis at January 3, 2026:

									Fair Value Measurement Hierarchy
(in millions)			Total Carrying Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	55.5					$	55.5					$	—					$	—
Money market funds			96.8						96.8						—						—
Pension assets
Cash and cash equivalents(1)			(0.9)						(0.9)						—						—
Equity securities			9.8						9.8						—						—
Debt securities			8.4						8.4						—						—
Real estate funds			4.7						4.7						—						—
Alternative investments			1.9						—						1.9						—
Other			0.9						—						0.9						—
Derivative instruments - cash flow hedges(2)			1.0						1.0						—						—
Total assets			$	178.1					$	175.3					$	2.8					$	—
Liabilities
Derivative instruments - cash flow hedges			$	1.4					$	1.4					$	—					$	—
Pension benefit obligation			30.3						30.3						—						—
Total liabilities			$	31.7					$	31.7					$	—					$	—

______________

(1)     Due to the timing of a cash transfer, there was a payable as of January 3, 2026, resulting in a negative allocation as of year end.

(2)     Includes accrued interest.

The following tables represent the Company’s financial assets, measured at fair value on a recurring basis at December 28, 2024:

									Fair Value Measurement Hierarchy
(in millions)			Total Carrying Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	51.0					$	51.0					$	—					$	—
Money market funds			72.6						72.6						—						—
Pension assets
Cash and cash equivalents(1)			(1.3)						(1.3)						—						—
Equity securities			6.9						6.9						—						—
Debt securities			8.5						8.5						—						—
Real estate funds			3.6						—						3.6						—
Alternative investments			1.4						—						1.4						—
Other			0.1						—						0.1						—
Derivative instruments - cash flow hedges(2)			6.8						6.8						—						—
Equity securities			1.3						1.3						—						—
Derivative instruments - warrants			0.7						0.7						—						—
Total assets			$	151.6					$	146.5					$	5.1					$	—
Liabilities
Derivative instruments - cash flow hedges			$	0.1					$	0.1					$	—					$	—
Pension benefit obligation			24.6						24.6						—						—
Total liabilities			$	24.7					$	24.7					$	—					$	—

______________

(1)     Due to the timing of a cash transfer, there was a payable as of December 31, 2024, resulting in a negative allocation as of year end.

(2)     Includes accrued interest.

Schedule of Property 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			2 to 3 years
Furniture and office equipment			2 to 15 years
Leasehold improvements			Lesser of useful life or term of lease
Machinery, equipment, tooling and others			3 to 20 years
Operating lease assets			Lesser of useful life or term of lease

Property and equipment, net, consists of the following:

(in millions)			January 3, 2026						December 28, 2024
Operating lease assets			$	204.1					$	148.6
Building and building improvements			151.8						143.5
Machinery, equipment, tooling and others			150.6						147.1
Land			47.7						47.7
Computer equipment and software			41.3						38.7
Leasehold improvements			34.3						31.2
Construction-in-progress (CIP)			24.5						29.0
Furniture and office equipment			16.5						15.8
Demonstration units			0.5						0.5
Total property and equipment(1)			671.3						602.1
Accumulated depreciation			(316.2)						(265.1)
Property and equipment, net			$	355.1					$	337.0

______________

(1)    In October 2024, the Company grounded the corporate aircraft and started exploring disposition strategies. In December 2024, the Company entered into an letter of intent to sell the aircraft, and classified the asset as held for sale within the healthcare segment as of December 28, 2024. On January 29, 2025, the Company completed the sale of the corporate aircraft for $19.5 million.

Schedule of Changes in Product Warranty Accrual

Changes in the product warranty accrual were as follows:

			Year Ended
(in millions)			January 3, 2026						December 28, 2024						December 30, 2023
Product warranty accrual, beginning of period			$	5.5					$	3.0					$	2.0
Accrual for warranties issued			1.0						1.9						1.8
Changes in pre-existing warranties (including changes in estimates)			3.5						5.2						1.3
Settlements made			(3.9)						(4.6)						(2.1)
Product warranty accrual, end of period			$	6.1					$	5.5					$	3.0

Schedule of Reconciliation of Basic and Diluted Net Income Per Share

A computation of basic and diluted net income (loss) per share is as follows:

			Year Ended
(in millions, except per share amounts)			January 3, 2026						December 28, 2024						December 30, 2023
Net income from continuing operations, net of tax			$	207.7					$	16.2					$	107.7
Net (loss) from discontinued operations, net of tax - (Note 18)			(359.2)						(321.1)						(26.2)
Net (loss) income			$	(151.5)					$	(304.9)					$	81.5
Basic net (loss) income per share:
Weighted-average shares outstanding - basic			53.6						53.3						52.8
Continuing operations per basic share			$	3.88					$	0.30					$	2.04
Discontinued operations per basic share			(6.70)						(6.02)						(0.50)
Basic (loss) income per share			$	(2.83)					$	(5.72)					$	1.54
Diluted net (loss) income per share:
Weighted-average shares outstanding - basic			53.6						53.3						52.8
Diluted share equivalents: stock options, RSUs and PSUs			0.6						1.1						1.3
Weighted-average shares outstanding - diluted			54.2						54.4						54.1
Continuing operations per diluted share			$	3.83					$	0.30					$	1.99
Discontinued operations per diluted share			(6.63)						(5.90)						(0.48)
Diluted (loss) income per share			$	(2.80)					$	(5.60)					$	1.51

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information includes the following:

			Year Ended
(in millions)			January 3, 2026						December 28, 2024						December 30, 2023
Cash paid during the year for:
Interest expense:
Continuing operations			$	32.8					$	36.7					$	46.1
Discontinued operations			1.5						2.4						4.9
Income taxes:
Continuing operations			28.5						35.9						20.4
Discontinued operations			8.8						6.0						34.0
Operating lease liabilities:
Continuing operations			10.1						10.9						10.4
Discontinued operations			10.4						13.7						12.0
Non-cash operating activities:
ROU assets obtained in exchange for lease liabilities:
Continuing operations			$	11.1					$	10.2					$	5.0
Discontinued operations			0.6						18.4						11.3
Non-cash investing activities - continuing operations:
Unpaid purchases of property and equipment			$	1.7					$	0.7					$	0.2
Non-cash financing activities - continuing operations:
Unpaid excise taxes on stock repurchases			$	2.0					$	—					$	—
Unpaid debt issuance costs			0.3						—						—
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents:
Continuing operations			$	152.3					$	123.6					$	120.8
Discontinued operations			1.0						54.0						42.2
Restricted cash:
Continuing operations			—						2.7						4.1
Discontinued operations			—						1.1						1.1
Total cash, cash equivalents and restricted cash shown in the statement of cash flows			$	153.3					$	181.4					$	168.2

The amounts of cash income tax paid by the Company were as follows:

(in millions)			Year Ended January 3, 2026
Federal			$	13.4
Foreign
Switzerland			6.9
Mexico			2.0
All other foreign			4.2
State and local			2.0
Income taxes, net of amounts refunded			$	28.5

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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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:	dtr-types: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
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-8

+ Details

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