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Employee Benefit Plans (Tables)

12 Months Ended

Jan. 03, 2020

Schedule of Defined Contribution, Net of Forfeitures, 401(k) Plan

The Company’s contributions, net of forfeitures, to the 401(k) Plan were as follows (in thousands):

		Years Ended
		2019				2018				2017
Employer contributions, net of forfeitures		$	1,279			$	996			$	764

Swiss Plan

Schedule of Defined Benefit Plans Disclosures

The following table shows the changes in the benefit obligation and plan assets and the Swiss Plan’s funded status as of January 3, 2020 and December 28, 2018 (in thousands):

		2019				2018
Change in Projected Benefit Obligation:
Projected benefit obligation, beginning of period		$	8,794			$	7,445
Service cost			739				474
Interest cost			77				56
Participant contributions			458				361
Benefits deposited (paid)			492				189
Actuarial loss			2,429				269
Prior service credit			(125	)			—
Projected benefit obligation, end of period		$	12,864			$	8,794
Change in Plan Assets:
Plan assets at fair value, beginning of period		$	5,130			$	4,144
Actual return on plan assets (including foreign currency impact)			152				3
Employer contributions			542				433
Participant contributions			458				361
Benefits deposited (paid)			492				189
Plan assets at fair value, end of period		$	6,774			$	5,130
Funded status (pension liability), end of year(1)		$	(6,090	)		$	(3,664	)
Amount Recognized in Accumulated Other Comprehensive Income    (Loss), net of tax:
Actuarial loss on plan assets		$	(1,031	)		$	(1,035	)
Actuarial loss on benefit obligation			(4,317	)			(2,145	)
Actuarial gain recognized in current year			744				630
Prior service credit			258				165
Effect of curtailments			609				609
Accumulated other comprehensive loss		$	(3,737	)		$	(1,776	)
Accumulated benefit obligation at year end		$	(12,043	)		$	(8,230	)

⁽¹⁾ The underfunded balance was included in pension liability on the Consolidated Balance Sheets.

Schedule of Net Benefit Costs

Net periodic pension cost associated with the Swiss Plan included the following components (in thousands):

		Years Ended
		2019				2018				2017
Service cost(1)		$	739			$	474			$	381
Interest cost(2)			77				56				53
Expected return on plan assets(2)			(147	)			(116	)			(94	)
Prior service credit(2),(3)			(21	)			(21	)			(7	)
Actuarial loss recognized in current period(2),(3)			129				113				72
Net periodic pension cost		$	777			$	506			$	405

⁽¹⁾ Recognized in selling general and administrative expenses on the Consolidated Statements of Operations.

⁽²⁾ For years ended 2019 and 2018, recognized in other income (expense), net, and for the year ended 2017, recognized in selling, general and administrative expenses on the Consolidated Statements of Operations.

⁽³⁾ Amounts reclassified from accumulated other comprehensive income (loss).

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss), net of tax, associated with the Swiss included the following components (in thousands):

		Years Ended
		2019				2018				2017
Current year actuarial gain (loss) on plan assets		$	4			$	(101	)		$	98
Current year actuarial loss on benefit obligation			(2,172	)			(243	)			(644	)
Actuarial gain recorded in current year			114				103				65
Prior service credit			93				(19	)			126
Change in other comprehensive loss		$	(1,961	)		$	(260	)		$	(355	)

Schedule of Assumptions Used

Net periodic pension cost and projected and accumulated pension obligation for the Company’s Swiss Plan were calculated on January 3, 2020 and December 28, 2018 using the following assumptions:

		2019				2018
Discount rate			0.3	%			0.8	%
Salary increases			2.0	%			2.0	%
Expected return on plan assets			2.5	%			2.5	%
Expected average remaining working lives in years			10.0				10.0

Schedule of Changes in Fair Value of Plan Assets

The table below sets forth the fair value of Plan assets at December 28, 2018 and January 3, 2020, and the related activity in years ended 2018 and 2019, in accordance with ASC 715-20-50-1(d) (in thousands):

		Insurance Contracts (Level 3)
Beginning balance at December 29, 2017		$	4,144
Actual return on plan assets			3
Purchases, sales, and settlement			983
Ending balance at December 28, 2018		$	5,130
Actual return on plan assets			152
Purchases, sales, and settlement			1,492
Ending balance at January 3, 2020		$	6,774

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Swiss Plan are as follows (in thousands):

Year Ended		Amount
2020		$	65
2021			79
2022			99
2023			117
2024			132
Thereafter			1,961
Total		$	2,453

Japan Plan

Schedule of Defined Benefit Plans Disclosures

The funded status of the benefit plan at January 3, 2020 and December 28, 2018 was as follows (in thousands): 

		2019				2018
Change in Projected Benefit Obligation:
Projected benefit obligation, beginning of period		$	1,646			$	1,352
Service cost			185				153
Interest cost			7				4
Actuarial gain			(58	)			119
Benefits paid			(66	)			(9	)
Foreign exchange adjustment			36				27
Projected benefit obligation, end of period		$	1,750			$	1,646
Change in Plan Assets:
Plan assets at fair value, beginning of period		$	—			$	—
Actual return on plan assets			—				—
Employer contributions			—				—
Benefits paid			—				—
Distribution of plan assets			—				—
Foreign exchange adjustment			—				—
Plan assets at fair value, end of period		$	—			$	—
Funded status (pension liability), end of year(1)		$	(1,750	)		$	(1,646	)
Amount Recognized in Accumulated Other Comprehensive Income    (Loss), net of tax:
Transition obligation		$	—			$	—
Actuarial loss			(37	)			(36	)
Prior service cost			7				8
Net gain			68				38
Accumulated other comprehensive income		$	38			$	10
Accumulated benefit obligation at year end		$	(1,599	)		$	(1,416	)

⁽¹⁾ The underfunded balance was included in pension liability on the Consolidated Balance Sheets.

Schedule of Net Benefit Costs

Net periodic pension cost associated with the Japan Plan included the following components (in thousands):

		Years Ended
		2019				2018						2017
Service cost(1)		$	185			$	153					$	147
Interest cost(2)			7				4						4
Net amortization of transitional obligation(2),(3)			—				11						11
Prior service credit(2),(3)			(1	)			(1	)					(1	)
Actuarial loss recognized in current period(2),(3)			—				—						(3	)
Net periodic pension cost		$	191			$	167					$	158

⁽¹⁾ Recognized in selling general and administrative expenses on the Consolidated Statements of Operations.

⁽²⁾ For the years ended 2019 and 2018, recognized in other income (expense), net, and for the year ended 2017, recognized in selling, general and administrative expenses on the Consolidated Statements of Operations.

⁽³⁾ Amounts reclassified from accumulated other comprehensive loss.

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss), net of tax, associated with the Japan Plan include the following components (in thousands):

		Years Ended
		2019				2018				2017
Amortization of net transition obligation		$	—			$	7			$	8
Amortization of actuarial loss			(1	)			(1	)			—
Prior service cost			(1	)			—				—
Actuarial income (loss) recorded in current year			30				(84	)			(22	)
Change in other comprehensive income (loss)		$	28			$	(78	)		$	(14	)

Schedule of Assumptions Used

Net periodic pension cost and projected and accumulated pension obligation for the Company’s Japan Plan were calculated on January 3, 2020 and December 28, 2018 using the following assumptions:

		2019				2018
Discount rate			0.3	%			0.4	%
Salary increases			4.5	%			6.0	%
Expected return on plan assets		N/A				N/A
Expected average remaining working lives in years			10.0				9.4

Schedule Of Defined Benefit Plan Estimated Future Benefit Payments

The estimated future benefit payments for the Japan Plan are as follows (in thousands):

Year Ended		Amount
2020		$	44
2021			110
2022			48
2023			210
2024			97
Thereafter			1,059
Total		$	1,568

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