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Balance Sheet Information | 6 Months Ended
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Jul. 03, 2022
Balance Sheet Information [Abstract] |
Balance Sheet Information | Balance Sheet Information Certain significant amounts included in our condensed consolidated balance sheets consist of the following:
| July 3, 2022 |  | January 2, 2022
Accounts receivable, net: |  |  |
Trade accounts receivable | $ | 23,901 |  |  | $ | 23,022 |
Unbilled revenue (contract assets) | 26,005 |  |  | 16,303 |
Other receivables | — |  |  | 56 |
Total accounts receivable, net | $ | 49,906 |  |  | $ | 39,381 |
| July 3, 2022 |  | January 2, 2022
Inventories: |  |  |
Raw materials | $ | 3,945 |  |  | $ | 3,340 |
Work-in-process | 335 |  |  | 7,339 |
Supplies and spare parts | 7,586 |  |  | 6,821 |
Total inventories—current | 11,866 |  |  | 17,500 |
Supplies and spare parts classified as other assets | 2,356 |  |  | 2,388 |
Total inventories | $ | 14,222 |  |  | $ | 19,888 |
| July 3, 2022 |  | January 2, 2022
Prepaid expenses and other current assets: |  |  |
Prepaid expenses | $ | 1,881 |  |  | $ | 1,759 |
Deferred contract costs | 3,680 |  |  | 1,579 |
Prepaid inventory | 516 |  |  | 516 |
Total prepaid assets and other current assets | $ | 6,077 |  |  | $ | 3,854 |
| July 3, 2022 |  | January 2, 2022
Property and equipment, net: |  |  |
Land | $ | 5,396 |  |  | $ | 5,396 |
Buildings and improvements | 87,742 |  |  | 87,156 |
Machinery and equipment | 179,784 |  |  | 143,105 |
Fixed assets not yet in service | 11,288 |  |  | 29,229 |
Total property and equipment, at cost | 284,210 |  |  | 264,886 |
Less: Accumulated depreciation | (97,069) |  |  | (84,411) |
Total property and equipment, net | $ | 187,141 |  |  | $ | 180,475 |
Depreciation expense was $6,683 and $6,400 for the three months ended July 3, 2022 and July 4, 2021, respectively, and $12,714 and $12,447 for the six months ended July 3, 2022 and July 4, 2021, respectively. In December 2021, we completed an assessment of the useful lives of our machinery and equipment and adjusted the estimated useful life from seven years to ten years to better reflect the estimated periods during which the assets will remain in service. This change in accounting estimate was effective beginning in December of 2021 on a prospective basis for all machinery and equipment acquired after March 1, 2017, the date in which we became an independent company as part of a divestiture from Cypress. The effect of this change in estimate resulted in a $445 and $889 decrease in depreciation expense for the three and six months ended July 3, 2022, respectively. Intangible assets consist of purchased software and license costs from our acquisition of the business in 2017. Additionally, we have entered into license agreements for third-party software and licensed technology, which also comprise intangible assets. During the six months ended July 3, 2022, we acquired third-party software and licensed technology of $3,062, which will be amortized over a weighted average estimated life of 9.3 years. Intangible assets are summarized as follows:
| July 3, 2022 |  | January 2, 2022
Intangible assets, net: |  |  |
Software and licensed technology | $ | 10,277 |  |  | $ | 6,625 |
Customer list | — |  |  | 1,500 |
Total intangible assets, at cost | 10,277 |  |  | 8,125 |
Less: Accumulated amortization | (3,701) |  |  | (4,234) |
Total intangible assets, net | $ | 6,576 |  |  | $ | 3,891 |
For the three months ended July 3, 2022 and July 4, 2021, amortization of the customer list intangible asset charged to operations was $0 and $88, respectively, and amortization of software and licensed technology was $518 and $366, respectively. For the six months ended July 3, 2022 and July 4, 2021, amortization of the customer list intangible asset charged to operations was $0 and $176, respectively, and amortization of software and licensed technology was $943 and $713, respectively. Remaining estimated aggregate annual amortization expense is as follows for the years ending:
| Amortization Expense
Remainder of 2022 | $ | 1,058 |
2023 | 1,635 |
2024 | 909 |
2025 | 744 |
2026 | 577 |
Thereafter | 1,653 |
Total | $ | 6,576 |
| July 3, 2022 |  | January 2, 2022
Other assets: |  |  |
Supplies and spare parts | $ | 2,356 |  |  | $ | 2,388 |
Deferred contract costs | — |  |  | 1,760 |
Operating lease right-of-use assets | 163 |  |  | — |
Other assets | 844 |  |  | 687 |
Total other assets | $ | 3,363 |  |  | $ | 4,835 |
| July 3, 2022 |  | January 2, 2022
Accrued expenses: |  |  |
Accrued compensation | $ | 5,007 |  |  | $ | 4,557 |
Licensed technology | 2,500 |  |  | — |
Accrued commissions | 242 |  |  | 189 |
Accrued fixed asset expenditures | 1,728 |  |  | 861 |
Accrued royalties | 3,355 |  |  | 1,854 |
Capital lease obligations | 1,306 |  |  | 1,192 |
Accrued inventory | 1,467 |  |  | 1,966 |
Other accrued expenses | 9,489 |  |  | 6,864 |
Total accrued expenses | $ | 25,094 |  |  | $ | 17,483 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
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