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Business Acquisition (Tables) - Balboa [Member] | 12 Months Ended
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Jan. 02, 2021
Components of Fair Value of Total Purchase Consideration | The fair value of total purchase consideration consisted of the following:
Cash |  | $ | 223,158 |
Post closing adjustment receivable, net |  |  | (431 | )
Acquisition date fair value of contingent consideration |  |  | 1,919 |
Total purchase consideration |  |  | 224,646 |
Less: cash acquired |  |  | (6,129 | )
Total purchase consideration, net of cash acquired |  | $ | 218,517 |
Schedule of Allocation of Total Purchase Price, Net of Cash Acquired | The preliminary allocation of the total purchase price, net of cash acquired, is as follows:
Accounts receivable |  | $ | 28,328 |
Inventories |  |  | 24,807 |
Property, plant and equipment |  |  | 12,562 |
Goodwill |  |  | 76,031 |
Intangible assets |  |  | 128,000 |
Other assets |  |  | 12,233 |
Total assets acquired |  |  | 281,961 |
Accounts payable |  |  | 17,840 |
Other accrued expenses and current liabilities |  |  | 11,219 |
Deferred income taxes |  |  | 23,823 |
Other noncurrent liabilities |  |  | 10,562 |
Total liabilities assumed |  |  | 63,444 |
Fair value of net assets acquired |  | $ | 218,517 |
Schedule of Preliminary Fair Value of Identified Intangible Assets and Useful Lives | The preliminary fair value of identified intangible assets and their respective useful lives are as follows:
|  | Fair Value |  |  | Weighted- Average Amortization Periods (Yrs) |
Trade name |  | $ | 22,000 |  |  |  | 18 |
Technology |  |  | 13,000 |  |  |  | 8 |
Customer relationships |  |  | 85,000 |  |  |  | 25 |
Sales order backlog |  |  | 8,000 |  |  |  | 0.5 |
Identified intangible assets |  | $ | 128,000 |  |  |  | 21 |
Schedule of Unaudited Pro Forma Information | The pro forma information does not reflect any operating efficiencies or potential cost savings that may result from the acquisitions. Accordingly, the pro forma information is for illustrative purposes only and is not intended to present or be indicative of the actual results of operations of the combined company that may have been achieved had the acquisition actually occurred at the beginning of 2019, nor is it intended to represent or be indicative of future results of operations of the combined business. Consequently, actual results will differ from the unaudited pro forma information presented below:
|  | Fiscal Year |
|  | 2020 |  |  | 2019 |
Net sales |  | $ | 638,288 |  |  | $ | 667,524 |
Net income |  |  | 30,332 |  |  |  | 54,487 |
Basic and diluted net income per common share |  |  | 0.95 |  |  |  | 1.70 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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