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Balance Sheet Account Details (Tables)

9 Months Ended

Oct. 02, 2022


(In millions)	October 2, 2022		January 2, 2022
Cash and cash equivalents	$	212.2	$	802.8
Restricted cash included in Other assets	1.0		—
Cash, cash equivalents and restricted cash	$	213.2	$	802.8

The following table is a summary of marketable securities:


	October 2, 2022				January 2, 2022
(In millions)	Amortized Cost		Gross Unrealized Losses		Fair Value		Amortized Cost		Gross Unrealized Losses		Fair Value
Corporate bonds	40.4		$	(0.6)	$	39.8	$	22.3	$	—	$	22.3

Corporate asset-backed securities	10.0		—		10.0		3.4		—		3.4
U.S. government securities	2.0		—		2.0		—		—		—
Total marketable securities, current	52.4		(0.6)		51.8		25.7		—		25.7
Corporate bonds, non-current	13.8		(0.1)		13.7		26.8		(0.1)		26.7
Corporate asset-backed securities, non-current	4.8		(0.1)		4.7		11.2		—		11.2
Foreign and other	1.9		—		1.9		—		—		—
Total marketable securities	$	72.9	$	(0.8)	$	72.1	$	63.7	$	(0.1)	$	63.6

Accounts receivables primarily consist of trade accounts receivables with maturities of one year or less and are presented net of reserves:


(In millions)	October 2, 2022		January 2, 2022
Accounts receivable	$	489.5	$	430.4
Allowance for contract rebates and discounts	(61.9)		(50.7)
Allowance for doubtful accounts	(11.0)		(1.7)
Total accounts receivable, net	$	416.6	$	378.0

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Inventories consisted of the following:


(In millions)	October 2, 2022		January 2, 2022
Raw materials	$	189.5	$	103.2
Work-in-process (materials, labor and overhead)	83.2		36.1
Finished goods (materials, labor and overhead)	302.1		59.5
Total inventories	$	574.8	$	198.8

Inventories	$	536.2	$	198.8
Other assets (1)	38.6		—
Total inventories	$	574.8	$	198.8

(1) Other assets includes inventory expected to remain on hand beyond one year.

Prepaid expenses and other current assets consist of the following:


(In millions)	October 2, 2022		January 2, 2022
Other receivables	$	37.2	$	15.8
Contract assets	54.6		—
Prepaid expenses	70.8		14.6
Income taxes and other tax receivables	48.7		—
Derivatives	15.8		0.1
Other	1.3		4.5
Total prepaid expenses and other current assets	$	228.4	$	35.0

Other current liabilities consist of the following:


(In millions)	October 2, 2022		January 2, 2022
Accrued commissions and rebates	$	41.4	$	15.9
Deferred consideration	38.7		41.9
Deferred revenue	32.5		1.9
Operating lease liabilities	22.7		10.0
Accrued other taxes payable	14.7		10.2
Derivatives	9.3		0.3
Contingent consideration	0.1		6.0
Payables under transition services agreements	—		10.9
Other	81.1		17.3
Total other current liabilities	$	240.5	$	114.4