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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Apr. 03, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands):
Fair ValueQuoted
Prices in
Active
Markets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
April 3, 2026
Assets: Foreign currency hedging contracts$3,480 $— $3,480 $— 
Liabilities: Foreign currency hedging contracts1,919 — 1,919 — 
Liabilities: Contingent consideration8,179 — — 8,179 
December 31, 2025
Liabilities: Foreign currency hedging contracts$5,221 $— $5,221 $— 
Liabilities: Contingent consideration8,179 — — 8,179 
Information regarding outstanding foreign currency forward contracts as of April 3, 2026 is as follows (dollars in thousands):
Notional AmountMaturity Date$/Foreign CurrencyFair ValueBalance Sheet Location
$38,320 Apr 20270.0507MXN Peso$3,395 Prepaid expenses and other current assets
1,543 Oct 20260.2421MYR Ringgit42 Prepaid expenses and other current assets
1,967 Oct 20260.0242UYU Peso43 Prepaid expenses and other current assets
50,362 Dec 20261.1826Euro(1,012)Accrued expenses and other current liabilities
11,215 Apr 20270.0564MXN Peso(325)Accrued expenses and other current liabilities
3,680 Apr 20270.2588MYR Ringgit(132)Accrued expenses and other current liabilities
11,043 Apr 20270.0256UYU Peso(367)Accrued expenses and other current liabilities
3,969 Jul 20270.0550MXN Peso(83)Other long-term liabilities
Information regarding outstanding foreign currency forward contracts as of December 31, 2025 is as follows (dollars in thousands):
Notional AmountMaturity Date$/Foreign CurrencyFair ValueBalance Sheet Location
$15,906 Oct 20261.1610Euro$266 Prepaid expenses and other current assets
7,649 Oct 20260.0244UYU Peso383 Prepaid expenses and other current assets
51,699 Dec 20260.0501MXN Peso4,491 Prepaid expenses and other current assets
2,959 Oct 20260.2401MYR Ringgit82 Prepaid expenses and other current assets
3,842 Apr 20270.0519MXN Peso76 Other long-term assets
8,923 Jul 20261.1898Euro(77)Accrued expenses and other current liabilities
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables present the effect of cash flow hedge derivative instruments on the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the three and three months ended April 3, 2026 and March 28, 2025 (in thousands):
Three Months Ended
April 3, 2026March 28, 2025
TotalAmount of Gain (Loss) on Cash Flow Hedge ActivityTotalAmount of Gain (Loss) on Cash Flow Hedge Activity
Sales$439,580 $(116)$437,392 $(583)
Cost of sales329,985 (2,819)317,074 (693)
Operating expenses77,726 — 70,766 (17)
(13.)     FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued)
Unrealized Gain (Loss) Recognized in OCIRealized Gain (Loss) Reclassified from AOCI
Three Months Ended
Location in Statements of Operations and Comprehensive
 Income
Three Months Ended
April 3,
2026
March 28,
2025
April 3,
2026
March 28,
2025
Foreign exchange contracts$(1,407)$1,808 Sales$(116)$(583)
Foreign exchange contracts(5,096)2,419 Cost of sales(2,819)(693)
Foreign exchange contracts(92)349 Operating expenses— (17)
Schedule of Estimated Fair Values for Contingent Consideration
The following table presents the changes in the estimated fair values of the Company’s liabilities for contingent consideration measured using significant unobservable inputs (Level 3) for the three and three months ended April 3, 2026 and March 28, 2025 (in thousands):
 Three Months Ended
April 3,
2026
March 28,
2025
Fair value measurement at beginning of period$8,179 $904 
Amount recorded for current year acquisitions
— 2,541 
Fair value measurement at end of period$8,179 $3,445 
Schedule of Equity Method and Other Investments
Equity and other investments comprise the following (in thousands):
April 3,
2026
December 31,
2025
Equity method investment$6,197 $7,709 
Non-marketable equity securities180 180 
Convertible debt instrument13,849 — 
Total equity and other investments
$20,226 $7,889 
During the first quarter of 2026, the Company invested 12 million euro ($13.8 million) in a convertible debt instrument issued by a life sciences company that matures on December 31, 2035. The instrument has a stated interest of 4.55%, payable periodically during the term of the instrument. Depending on certain operational and financial targets, the Company may invest an additional 3 million euro under the same terms. The instrument is senior to all other indebtedness, and is secured by the assets of the investee. The Company considered guidance within ASC 815 and concluded the conversion option did not require bifurcation as an embedded derivative instrument.
The components of (Gain) loss on equity investments for each period were as follows (in thousands):
Three Months Ended
April 3,
2026
March 28,
2025
Equity method investment (gain) loss$1,468 $(181)
Schedule of Business Combination, Contingent Consideration
The following table provides information on unpaid contingent consideration as of April 3, 2026 (in thousands):
As of April 3, 2026
Maximum Remaining Payout (undiscounted)
AcquisitionAcquisition DateRemainingMilestone Years2026202720282029TotalFair Value
Biocoat
12/04/252026$7,000 $— $— $— $7,000 $7,000 
VSi02/28/252026 - 2028— 1,000 1,000 1,000 3,000 1,179 
InNeuroCo10/01/232026 - 2027— 2,700 2,700 — 5,400 —