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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2022

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis:

						Fair Value as of October 1, 2022
(In thousands)						Level 1						Level 2						Level 3						Total
Assets:
Money market funds and time deposits						$	13,520					$	—					$	—					$	13,520
Banker's acceptance drafts (a)						$	—					$	6,755					$	—					$	6,755
2018 Swap Agreement						$	—					$	140					$	—					$	140
Liabilities:
Forward currency-exchange contracts (b)						$	—					$	96					$	—					$	96

						Fair Value as of January 1, 2022
(In thousands)						Level 1						Level 2						Level 3						Total
Assets:
Money market funds and time deposits						$	13,458					$	—					$	—					$	13,458
Banker's acceptance drafts (a)						$	—					$	8,049					$	—					$	8,049
Forward currency-exchange contracts						$	—					$	14					$	—					$	14
Liabilities:
2018 Swap Agreement						$	—					$	550					$	—					$	550
Forward currency-exchange contract						$	—					$	44					$	—					$	44

(a)Included in accounts receivable in the accompanying condensed consolidated balance sheet.

(b)Includes derivatives designated as hedging instruments of $82,000 and derivatives not designated as hedging instruments of $14,000.

Carrying Value and Fair Value of Debt Obligations

The carrying value and fair value of debt obligations, excluding lease obligations, are as follows:

						October 1, 2022												January 1, 2022
						Carrying Value						Fair Value						Carrying Value						Fair Value
(In thousands)
Debt Obligations:
Revolving credit facility						$	195,036					$	195,036					$	250,267					$	250,267
Senior promissory notes						10,000						9,740						10,000						10,947
Other						2,849						2,849						4,331						4,331
						$	207,885					$	207,625					$	264,598					$	265,545

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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