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Goodwill | 12 Months Ended
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Dec. 31, 2022
GOODWILL [Abstract] |
GOODWILL | GOODWILL Changes in the carrying amount of goodwill (in thousands):
| Feed Ingredients | Food Ingredients | Fuel Ingredients | Total
Balance at January 2, 2021 |  |  |  |
Goodwill | $ | 830,321 |  | $ | 351,296 |  | $ | 126,578 |  | $ | 1,308,195 |
Accumulated impairment losses | (15,914) |  | (461) |  | (31,580) |  | (47,955) |
| 814,407 |  | 350,835 |  | 94,998 |  | 1,260,240 |
Goodwill acquired during year | 40 |  | — |  | 161 |  | 201 |
Foreign currency translation | (15,498) |  | (18,430) |  | (7,397) |  | (41,325) |
Balance at January 1, 2022 |  |  |  |
Goodwill | 814,863 |  | 332,866 |  | 119,342 |  | 1,267,071 |
Accumulated impairment losses | (15,914) |  | (461) |  | (31,580) |  | (47,955) |
| 798,949 |  | 332,405 |  | 87,762 |  | 1,219,116 |
Goodwill acquired during year | 767,382 |  | 399 |  | 30,355 |  | 798,136 |
Goodwill impairment during year | — |  | (2,709) |  | — |  | (2,709) |
Foreign currency translation | (25,390) |  | (12,458) |  | (6,318) |  | (44,166) |
Balance at December 31, 2022 |  |  |  |
Goodwill | 1,556,855 |  | 320,807 |  | 143,379 |  | 2,021,041 |
Accumulated impairment losses | (15,914) |  | (3,170) |  | (31,580) |  | (50,664) |
| $ | 1,540,941 |  | $ | 317,637 |  | $ | 111,799 |  | $ | 1,970,377 |
The process of evaluating goodwill for impairment involves the determination of the fair value of the Company's reporting units. In fiscal 2022 and fiscal 2021, the Company concluded it is more likely than not that the fair values of the reporting units containing goodwill exceeded the related carrying value pursuant to a qualitative assessment completed as of October 29, 2022 and October 30, 2021, respectively. Prior to finalizing the impairment testing, in December 2022, the Company's management reviewed our global network of collagen plants for optimization opportunities and decided to close our Peabody, Massachusetts, plant in 2023. As a result of the restructuring, the Company recorded goodwill impairment charges in fiscal 2022 of approximately $2.7 million based on the relative fair value of the Peabody plant. In fiscal 2020, the Company performed its annual goodwill and indefinite-lived intangible assets impairment assessments at October 24, 2020 pursuant to a quantitative assessment and prior to finalizing the impairment testing a triggering event occurred, which due to unfavorable economics in the biodiesel industry, the Company made the decision to shut down processing operations at its biodiesel facilities located in the United States and Canada, and there are no current plans to resume biodiesel production at these facilities in the future. As a result, the Company recorded goodwill impairment charges in fiscal 2020 of approximately $31.6 million, which represented all of our reporting units' goodwill. See Note 18 to the consolidated financial statements for further discussion on asset impairment. Based on the Company's annual impairment testing at October 24, 2020, the remaining reporting units fair value exceeded their carrying value.

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