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VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS - (Tables) | 6 Months Ended
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Jul. 01, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | Venture capital investments are summarized below:
| Six Months Ended
| July 1, 2023 |  | June 25, 2022
| (in thousands)
Beginning balance | $ | 129,012 |  |  | $ | 149,640 |
Capital contributions | 8,702 |  |  | 6,384 |
Distributions | (9,679) |  |  | (4,042) |
Losses | (8,429) |  |  | (23,050) |
Foreign currency translation | 466 |  |  | (1,065) |
Ending balance | $ | 120,072 |  |  | $ | 127,867 |
The Company also invests, with minority positions, directly in equity of predominantly privately held companies. Strategic investments are summarized below:
| Six Months Ended
| July 1, 2023 |  | June 25, 2022
| (in thousands)
Beginning balance | $ | 182,590 |  |  | $ | 51,712 |
Purchase of investments | 13,710 |  |  | 102,220 |
Distributions | (4,146) |  |  | (151) |
Gain (loss) | 3,253 |  |  | (465) |
Reduction for acquisition of entity | (12,635) |  |  | — |
Foreign currency translation | (2,563) |  |  | (2,112) |
Ending balance | $ | 180,209 |  |  | $ | 151,204 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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