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CRL Charles River Laboratories International

Cover Page

Cover Page - shares6 Months Ended
Jun. 27, 2020Jul. 24, 2020
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateJun. 27,
2020
Document Transition Reportfalse
Entity File Number001-15943
Entity Registrant NameCHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number06-1397316
Entity Address, Address Line One251 Ballardvale Street
Entity Address, City or TownWilmington
Entity Address, State or ProvinceMA
Entity Address, Postal Zip Code01887
City Area Code781
Local Phone Number222-6000
Title of 12(b) SecurityCommon stock, $0.01 par value
Trading SymbolCRL
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Smaller Reporting Companyfalse
Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding49,678,592
Entity Central Index Key0001100682
Current Fiscal Year End Date--12-26
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ2
Amendment Flagfalse

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137
Costs and expenses:
Selling, general and administrative127,712 135,941 257,613 258,515
Amortization of intangible assets27,758 22,395 55,637 41,806
Operating income76,768 79,768 171,049 149,560
Other income (expense):
Interest income276 274 592 453
Interest expense(19,352)(20,835)(34,419)(30,822)
Other income (expense), net26,260 (213)2,189 6,093
Income from operations, before income taxes83,952 58,994 139,411 125,284
Provision for income taxes16,284 14,685 20,906 25,287
Net income67,668 44,309 118,505 99,997
Less: Net income attributable to noncontrolling interests233 581 301 1,136
Net income attributable to common shareholders $ 67,435 $ 43,728 $ 118,204 $ 98,861
Earnings per common share
Basic (in dollars per share) $ 1.36 $ 0.90 $ 2.39 $ 2.03
Diluted (in dollars per share) $ 1.34 $ 0.88 $ 2.36 $ 1.99
Weighted-average number of common shares outstanding:
Basic (in shares)49,553 48,772 49,371 48,615
Diluted (in shares)50,246 49,662 50,118 49,599
Service
Total revenue $ 550,561 $ 505,880 $ 1,097,153 $ 956,822
Costs and expenses:
Cost of services provided and products sold (excluding amortization of intangible assets)374,938 345,369 747,762 662,169
Product
Total revenue132,023 151,688 292,490 305,315
Costs and expenses:
Cost of services provided and products sold (excluding amortization of intangible assets) $ 75,408 $ 74,095 $ 157,582 $ 150,087

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Statement of Comprehensive Income [Abstract]
Net income $ 67,668 $ 44,309 $ 118,505 $ 99,997
Other comprehensive income (loss):
Foreign currency translation adjustment and other6,750 (3,071)(38,105)6,814
Amortization of net loss and prior service benefit included in net periodic cost for pension and other post-retirement benefit plans1,365 374 2,739 748
Comprehensive income, before income taxes75,783 41,612 83,139 107,559
Less: Income tax expense (benefit) related to items of other comprehensive income1,862 1,232 (177)1,130
Comprehensive income, net of income taxes73,921 40,380 83,316 106,429
Less: Comprehensive income (loss) related to noncontrolling interests, net of income taxes284 88 (192)1,101
Comprehensive income attributable to common shareholders, net of income taxes $ 73,637 $ 40,292 $ 83,508 $ 105,328

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Current assets:
Cash and cash equivalents $ 402,020 $ 238,014
Trade receivables, net532,531 514,033
Inventories168,366 160,660
Prepaid assets66,746 52,588
Other current assets65,062 56,030
Total current assets1,234,725 1,021,325
Property, plant and equipment, net1,028,005 1,044,128
Operating lease right-of-use assets, net169,192 140,085
Goodwill1,735,641 1,540,565
Client relationships and other intangible assets, net806,191 689,413
Deferred tax assets42,759 44,659
Other assets224,371 212,615
Total assets5,240,884 4,692,790
Current liabilities:
Current portion of long-term debt and finance leases53,713 38,545
Accounts payable82,978 111,498
Accrued compensation167,957 158,617
Deferred revenue170,410 171,805
Accrued liabilities144,239 139,118
Other current liabilities108,639 90,598
Total current liabilities727,936 710,181
Long-term debt, net and finance leases2,207,157 1,849,666
Operating lease right-of-use liabilities147,348 116,252
Deferred tax liabilities201,792 167,283
Other long-term liabilities176,042 182,933
Total liabilities3,460,275 3,026,315
Commitments and contingencies (Notes 2, 9, 11, 12, 16 and 17)
Redeemable noncontrolling interests23,884 28,647
Equity:
Preferred stock, $0.01 par value; 20,000 shares authorized; no shares issued and outstanding0 0
Common stock, $0.01 par value; 120,000 shares authorized; 49,804 shares issued and 49,659 shares outstanding as of June 27, 2020, and 48,936 shares issued and 48,936 shares outstanding as of December 28, 2019498 489
Additional paid-in capital1,590,117 1,531,785
Retained earnings398,533 280,329
Treasury stock, at cost, 145 and 0 shares, as of June 27, 2020 and December 28, 2019, respectively(23,793)0
Accumulated other comprehensive loss(212,714)(178,019)
Total equity attributable to common shareholders1,752,641 1,634,584
Noncontrolling interest4,084 3,244
Total equity1,756,725 1,637,828
Total liabilities, redeemable noncontrolling interests and equity5,240,884 4,692,790
Client relationships, net
Current assets:
Client relationships and other intangible assets, net732,221 613,573
Other intangible assets, net
Current assets:
Client relationships and other intangible assets, net $ 73,970 $ 75,840

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / sharesJun. 27, 2020Dec. 28, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares)20,000,000 20,000,000
Preferred stock, shares issued (in shares)0 0
Preferred stock, shares outstanding (in shares)0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares)120,000,000 120,000,000
Common stock, shares issued (in shares)49,804,000 48,936,000
Common stock, shares outstanding (in shares)49,659,000 48,936,000
Treasury stock, shares (in shares)145,000 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands6 Months Ended
Jun. 27, 2020Jun. 29, 2019
Cash flows relating to operating activities
Net income $ 118,505 $ 99,997
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization114,468 94,504
Stock-based compensation24,103 29,404
Deferred income taxes148 (1,347)
Gain on venture capital and strategic equity investments, net(11,876)(6,321)
Other, net10,487 3,312
Changes in assets and liabilities:
Trade receivables, net(19,371)(36,538)
Inventories(1,901)(2,565)
Accounts payable(25,619)18,195
Accrued compensation8,728 (25,421)
Deferred revenue(3,273)(241)
Customer contract deposits8,276 (10,918)
Other assets and liabilities, net8,221 (17,649)
Net cash provided by operating activities230,896 144,412
Cash flows relating to investing activities
Acquisition of businesses and assets, net of cash acquired(382,250)(492,381)
Capital expenditures(52,521)(41,512)
Purchases of investments and contributions to venture capital investments(12,064)(14,753)
Proceeds from sale of investments5,681 15
Other, net(1,157)(607)
Net cash used in investing activities(442,311)(549,238)
Cash flows relating to financing activities
Proceeds from long-term debt and revolving credit facility1,411,953 1,485,731
Proceeds from exercises of stock options36,608 23,853
Payments on long-term debt, revolving credit facility, and finance lease obligations(1,045,235)(1,076,761)
Purchase of treasury stock(23,793)(17,883)
Other, net(4,417)(10,516)
Net cash provided by financing activities375,116 404,424
Effect of exchange rate changes on cash, cash equivalents, and restricted cash295 5,670
Net change in cash, cash equivalents, and restricted cash163,996 5,268
Cash, cash equivalents, and restricted cash, beginning of period240,046 197,318
Cash, cash equivalents, and restricted cash, end of period404,042 202,586
Supplemental cash flow information:
Cash, cash equivalents, and restricted cash, end of period $ 404,042 $ 202,586

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Treasury StockTotal Equity Attributable to Common ShareholdersNoncontrolling Interest
Beginning balance (in shares) at Dec. 29, 201848,210 1
Beginning balance at Dec. 29, 2018 $ 1,319,778 $ 482 $ 1,447,512 $ 42,096 $ (172,703) $ (55) $ 1,317,332 $ 2,446
Increase (Decrease) in Stockholders' Equity
Net income55,602 55,133 55,133 469
Other comprehensive income (loss)9,903 9,903 9,903
Adjustment of redeemable noncontrolling interest to redemption value(1,451)(1,451)(1,451)
Issuance of stock under employee compensation plans (in shares)674
Issuance of stock under employee compensation plans22,058 $ 7 22,051 22,058
Acquisition of treasury shares (in shares)136
Acquisition of treasury shares(17,760) $ (17,760)(17,760)
Stock-based compensation12,899 12,899 12,899
Ending balance (in shares) at Mar. 30, 201948,884 137
Ending balance at Mar. 30, 20191,401,029 $ 489 1,481,011 97,229 (162,800) $ (17,815)1,398,114 2,915
Beginning balance (in shares) at Dec. 29, 201848,210 1
Beginning balance at Dec. 29, 20181,319,778 $ 482 1,447,512 42,096 (172,703) $ (55)1,317,332 2,446
Increase (Decrease) in Stockholders' Equity
Purchase of additional equity interest in and modification of Vital River redeemable noncontrolling interest8,745
Ending balance (in shares) at Jun. 29, 201948,937 138
Ending balance at Jun. 29, 20191,458,364 $ 489 1,497,794 140,957 (166,236) $ (17,938)1,455,066 3,298
Beginning balance (in shares) at Mar. 30, 201948,884 137
Beginning balance at Mar. 30, 20191,401,029 $ 489 1,481,011 97,229 (162,800) $ (17,815)1,398,114 2,915
Increase (Decrease) in Stockholders' Equity
Net income44,111 43,728 43,728 383
Other comprehensive income (loss)(3,436)(3,436)(3,436)
Purchase of additional equity interest in and modification of Vital River redeemable noncontrolling interest(1,870)(1,870)(1,870)
Issuance of stock under employee compensation plans (in shares)53
Issuance of stock under employee compensation plans2,148 $ 0 2,148 2,148
Acquisition of treasury shares (in shares)1
Acquisition of treasury shares(123) $ (123)(123)
Stock-based compensation16,505 16,505 16,505
Ending balance (in shares) at Jun. 29, 201948,937 138
Ending balance at Jun. 29, 20191,458,364 $ 489 1,497,794 140,957 (166,236) $ (17,938)1,455,066 3,298
Beginning balance (in shares) at Dec. 28, 201948,936 0
Beginning balance at Dec. 28, 20191,637,828 $ 489 1,531,785 280,329 (178,019) $ 0 1,634,584 3,244
Increase (Decrease) in Stockholders' Equity
Net income51,168 50,769 50,769 399
Other comprehensive income (loss)(40,898)(40,898)(40,898)
Purchase of additional equity interest in and modification of Vital River redeemable noncontrolling interest(2,379)(2,379)(2,379)
Issuance of stock under employee compensation plans (in shares)694
Issuance of stock under employee compensation plans22,623 $ 7 22,616 22,623
Acquisition of treasury shares (in shares)144
Acquisition of treasury shares(23,675) $ (23,675)(23,675)
Stock-based compensation10,960 10,960 10,960
Ending balance (in shares) at Mar. 28, 202049,630 144
Ending balance at Mar. 28, 20201,655,627 $ 496 1,562,982 331,098 (218,917) $ (23,675)1,651,984 3,643
Beginning balance (in shares) at Dec. 28, 201948,936 0
Beginning balance at Dec. 28, 20191,637,828 $ 489 1,531,785 280,329 (178,019) $ 0 1,634,584 3,244
Increase (Decrease) in Stockholders' Equity
Purchase of additional equity interest in and modification of Vital River redeemable noncontrolling interest0
Ending balance (in shares) at Jun. 27, 202049,804 145
Ending balance at Jun. 27, 20201,756,725 $ 498 1,590,117 398,533 (212,714) $ (23,793)1,752,641 4,084
Beginning balance (in shares) at Mar. 28, 202049,630 144
Beginning balance at Mar. 28, 20201,655,627 $ 496 1,562,982 331,098 (218,917) $ (23,675)1,651,984 3,643
Increase (Decrease) in Stockholders' Equity
Net income67,876 67,435 67,435 441
Other comprehensive income (loss)6,203 6,203 6,203
Issuance of stock under employee compensation plans (in shares)174
Issuance of stock under employee compensation plans13,994 $ 2 13,992 13,994
Acquisition of treasury shares (in shares)1
Acquisition of treasury shares(118) $ (118)(118)
Stock-based compensation13,143 13,143 13,143
Ending balance (in shares) at Jun. 27, 202049,804 145
Ending balance at Jun. 27, 2020 $ 1,756,725 $ 498 $ 1,590,117 $ 398,533 $ (212,714) $ (23,793) $ 1,752,641 $ 4,084

BASIS OF PRESENTATION

BASIS OF PRESENTATION6 Months Ended
Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATIONBASIS OF PRESENTATION The accompanying condensed consolidated financial statements are unaudited and have been prepared by Charles River Laboratories International, Inc. (the Company) in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The year-end condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for fiscal year 2019. The unaudited condensed consolidated financial statements, in the opinion of management, reflect all normal and recurring adjustments necessary for a fair statement of the Company’s financial position and results of operations. Use of Estimates The preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires that the Company make estimates and judgments that may affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, judgments, and methodologies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known. On March 11, 2020, the World Health Organization declared the outbreak of a strain of novel coronavirus disease, COVID-19, a global pandemic. The COVID-19 pandemic is dynamic and expanding, and its ultimate scope, duration and effects are uncertain. This pandemic has and continues to result in, and any future epidemic or pandemic crises may potentially result in, direct and indirect adverse effects on the Company’s industry and customers, which in turn has (with respect to COVID-19) and may (with respect to future epidemics or crises) impact the Company’s business, results of operations and financial condition. Further, the COVID-19 pandemic may also affect the Company’s operating and financial results in a manner that is not presently known to the Company or that the Company currently does not expect to present significant risks to its operations or financial results. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s condensed consolidated financial statements. Consolidation The Company’s unaudited condensed consolidated financial statements reflect its financial statements and those of its subsidiaries in which the Company holds a controlling financial interest. For consolidated entities in which the Company owns or is exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interests in its consolidated statements of income equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties. Intercompany balances and transactions are eliminated in consolidation. The Company’s fiscal year is typically based on 52-weeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31. Segment Reporting The Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research Products businesses. Research Models includes the commercial production and sale of small research models, as well as the supply of large research models. Research Model Services includes: Genetically Engineered Models and Services (GEMS), which performs contract breeding and other services associated with genetically engineered models; Research Animal Diagnostic Services (RADS), which provides health monitoring and diagnostics services related to research models; and Insourcing Solutions (IS), which provides colony management of its clients’ research operations (including recruitment, training, staffing, and management services). Research Products supplies controlled, consistent, customized primary cells and blood components derived from normal and mobilized peripheral blood, bone marrow, and cord blood. The Company’s DSA reportable segment includes services required to take a drug through the early development process including discovery services, which are non-regulated services to assist clients with the identification, screening, and selection of a lead compound for drug development, and regulated and non-regulated (GLP and non-GLP) safety assessment services. The Company’s Manufacturing reportable segment includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification services; Biologics Testing Services (Biologics), which performs specialized testing of biologics; and Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for fiscal year 2019. Newly Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computer Arrangement that is a Service Contract.” ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 removes the disclosure requirement for the amount and reasons for transfers between Level 1 and Level 2 fair value measurements as well as the process for Level 3 fair value measurements. In addition, the ASU adds the disclosure requirements for changes in unrealized gains and losses included in Other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period as well as the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-14, “Compensation Retirement Benefits - Defined Benefit Plans -General (Subtopic 715-20).” ASU 2018-14 removes the requirements to disclose the amounts in Accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year and the related party disclosures about the amount of future annual benefits covered by insurance contracts. In addition, the ASU adds the requirement to disclose an explanation for any significant gains and losses related to changes in the benefit obligation for the period. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment.” The standard simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. This standard became effective for the Company in the three months ended March 28, 2020 and did not have an impact on the unaudited condensed consolidated financial statements and related disclosures. The Company performs its annual impairment test during the fourth quarter of a fiscal year and does not expect any significant impact on the consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses”. The standard, including subsequently issued amendments, requires a financial asset measured at amortized cost basis, such as trade and notes receivables, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. Newly Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU offers temporary optional expedients and exceptions for applying U.S. GAAP to modifications to agreements such as loans, debt securities, derivatives, and borrowings which reference LIBOR or another reference rate that is expected to be discontinued by December 31, 2021. The expedients and exceptions provided by the standard do not apply to modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and are retained through the end of the hedging relationship. The ASU is effective until December 31, 2022 when the replacement for LIBOR is expected to be completed. The interest rate on the Company’s senior credit facility, which matures in fiscal year 2023, is linked to LIBOR. The Company is in the process of evaluating options for transitioning away from the senior credit facility’s use of LIBOR and expects to be completed by the time LIBOR is phased out. The Company is still evaluating the impact this standard will have on its consolidated financial statements and related disclosures and has yet to elect an adoption date. In January 2020, the FASB issued ASU 2020-01, “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).” ASU 2020-01 states any equity security transitioning from the alternative method of accounting under Topic 321 to the equity method, or vice versa, due to an observable transaction will be remeasured immediately before the transition. In addition, the ASU clarifies the accounting for certain non-derivative forward contracts or purchased call options to acquire equity securities stating such instruments will be measured using the fair value principles of Topic 321 before settlement or exercise. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied on a prospective basis. Early adoption is permitted. The Company is still evaluating the impact this standard will have on its consolidated financial statements and related disclosures, but does not believe t here will be a material impact upon adoption. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing exceptions within the general principles of Topic 740 regarding the calculation of deferred tax liabilities, the incremental approach for intraperiod tax allocation, and calculating income taxes in an interim period. In addition, the ASU adds clarifications to the accounting for franchise tax (or similar tax), which is partially based on income, evaluating tax basis of goodwill recognized from a business combination, and reflecting the effect of any enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied either retrospectively or prospectively based upon the applicable amendments. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements an d related disclosures.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS6 Months Ended
Jun. 27, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONSBUSINESS COMBINATIONS HemaCare Corporation On January 3, 2020, the Company acquired HemaCare Corporation (HemaCare), a business specializing in the production of human-derived cellular products for the cell therapy market. The acquisition of HemaCare expands the Company’s comprehensive portfolio of early-stage research and manufacturing support solutions to encompass the production and customization of high-quality, human derived cellular products to better support clients’ cell therapy programs. The purchase price of HemaCare was $379.8 million in cash. The acquisition was funded through a combination of cash on hand and proceeds from the Company’s Credit Facility under the multi-currency revolving facility. See Note 9, “Long-Term Debt and Finance Leases.” This business is reported as part of the Company’s RMS reportable segment. The preliminary purchase allocation of $376.7 million, net of $3.1 million of cash acquired was as follows: January 3, 2020 (in thousands) Trade receivables $ 6,451 Inventories 8,468 Other current assets (excluding cash) 3,527 Property, plant and equipment 10,033 Goodwill 209,104 Definite-lived intangible assets 183,540 Other long-term assets 5,920 Current liabilities (5,188) Deferred tax liabilities (37,470) Other long-term liabilities (7,664) Total purchase price allocation $ 376,721 The purchase price allocation is subject to change as additional information becomes available concerning the fair value and tax basis of the assets acquired and liabilities assumed, including certain contracts and obligations. Any additional adjustments to the purchase price allocation will be made as soon as practicable but no later than one year from the date of acquisition. The breakout of definite-lived intangible assets acquired was as follows: Definite-Lived Intangible Assets Weighted Average Amortization Life (in thousands) (in years) Client relationships $ 170,390 19 Trade name 7,330 10 Other intangible assets 5,820 3 Total definite-lived intangible assets $ 183,540 18 The goodwill resulting from the transaction is primarily attributable to the potential growth of the Company’s RMS business from customers introduced through HemaCare and the assembled workforce of the acquired business. The goodwill attributable to HemaCare is not deductible for tax purposes. The Company incurred transaction and integration costs in connection with the acquisition of $0.1 million and $5.8 million for the three and six months ended June 27, 2020, respectively, which were primarily included in Selling, general and administrative expenses within the unaudited condensed consolidated statements of income. Beginning on January 3, 2020, HemaCare has been included in the operating results of the Company. HemaCare revenue for the three and six months ended June 27, 2020 was $6.4 million and $18.7 million, respectively. HemaCare operating loss for the three and six months ended June 27, 2020 was $5.9 million and $8.1 million, respectively. The following selected unaudited pro forma consolidated results of operations are presented as if the HemaCare acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition, which is December 30, 2018, after giving effect to certain adjustments. For the six months ended June 27, 2020, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $0.4 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. For the six months ended June 29, 2019, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $6.4 million, additional interest expense on borrowings of $6.1 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) (unaudited) Revenue $ 682,584 $ 668,095 $ 1,389,661 $ 1,281,551 Net income attributable to common shareholders 67,383 42,467 123,088 94,654 These unaudited pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred on the dates indicated or that may result in the future. No effect has been given for synergies, if any, that may be realized through the acquisition. Citoxlab On April 29, 2019, the Company acquired Citoxlab, a non-clinical CRO, specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing. With operations in Europe and North America, the acquisition of Citoxlab further strengthens the Company’s position as a leading, global, early-stage CRO by expanding its scientific portfolio and geographic footprint, which enhances the Company’s ability to partner with clients across the drug discovery and development continuum. The purchase price for Citoxlab was $527.1 million in cash. The acquisition was funded through a combination of cash on hand and proceeds from the Company’s Credit Facility under the multi-currency revolving facility. This business is reported as part of the Company’s DSA reportable segment. The purchase allocation of $490.4 million, net of $36.7 million of cash acquired was as follows: April 29, 2019 (in thousands) Trade receivables $ 35,405 Inventories 5,282 Other current assets (excluding cash) 13,917 Property, plant and equipment 88,605 Goodwill 280,161 Definite-lived intangible assets 162,400 Other long-term assets 20,063 Deferred revenue (15,278) Current liabilities (46,081) Deferred tax liabilities (27,458) Other long-term liabilities (22,624) Redeemable noncontrolling interest (4,035) Total purchase price allocation $ 490,357 From the date of the acquisition through March 28, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation. The breakout of definite-lived intangible assets acquired was as follows: Definite-Lived Intangible Assets Weighted Average Amortization Life (in thousands) (in years) Client relationships $ 134,600 13 Developed technology 19,900 3 Backlog 7,900 1 Total definite-lived intangible assets $ 162,400 12 The goodwill resulting from the transaction, $7.2 million of which is deductible for tax purposes due to a prior asset acquisition, is primarily attributable to the potential growth of the Company’s DSA business from customers introduced through Citoxlab and the assembled workforce of the acquired business. The Company incurred transaction and integration costs in connection with the acquis ition of $1.2 million and $12.1 million for the three months ended June 27, 2020 and June 29, 2019, respectively, which were primarily included in Selling, general and administrative expenses within the unaudited condensed consolidated statements of income. The Company incurred transaction and integration costs in connection with the acquisition of $2.5 million and $17.2 million for six months ended June 27, 2020 and June 29, 2019, respectively, which were primarily included in Selling, general and administrative expenses within the unaudited condensed consolidated statements of income. The following selected unaudited pro forma consolidated results of operations are presented as if the Citoxlab acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition, which is December 31, 2017, after giving effect to certain adjustments. For the six months ended June 29, 2019, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $4.0 million, additional interest expense on borrowings of $1.2 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. June 29, 2019 Three Months Ended Six Months Ended Revenue $ 673,645 $ 1,325,483 Net income attributable to common shareholders 53,625 114,653 These unaudited pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred on the dates indicated or that may result in the future. No effect has been given for synergies, if any, that may be realized through the acquisition. Other Acquisition On August 28, 2019, the Company acquired an 80% ownership interest in a supplier that supports the Company’s DSA reportable segment. The remaining 20% interest is a redeemable non-controlling interest. See Note 10, “Equity and Noncontrolling Interests.” The purchase price was $23.4 million, net of a $4.0 million pre-existing relationship for a supply agreement settled upon acquisition. The acquisition was funded through a combination of cash on hand and proceeds from the Company’s Credit Facility under the multi-currency revolving facility. The business is reported as part of the Company’s DSA reportable segment. The purchase allocation of $23.1 million, net of $0.3 million of cash acquired was as follows: August 28, 2019 (in thousands) Trade receivables $ 189 Inventories 7,644 Property, plant and equipment 1,462 Goodwill 12,591 Other long-term assets 11,849 Current liabilities (441) Deferred tax liabilities (1,253) Other long-term liabilities (238) Redeemable noncontrolling interest (8,740) Total purchase price allocation $ 23,063 From the date of the acquisition through June 27, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation. No significant integration costs were incurred with the acquisition for the three and six months ended June 27, 2020. The Company incurred transaction and integration costs in connection with the acquisition of $1.1 million for the three and six months ended June 29, 2019. Pro forma financial information as well as the disclosure of actual results have not been included because these financial results are not significant when compared to the Company’s consolidated financial results.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS6 Months Ended
Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERSREVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following tables disaggregate the Company’s revenue by major business line and timing of transfer of products or services: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Major Products/Service Lines: RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Timing of Revenue Recognition: RMS Services and products transferred over time $ 57,357 $ 57,321 $ 117,398 $ 112,134 Services and products transferred at a point in time 59,192 78,733 145,147 161,092 DSA Services and products transferred over time 442,447 405,351 881,011 759,429 Services and products transferred at a point in time 117 166 236 285 Manufacturing Services and products transferred over time 41,317 34,470 78,631 66,366 Services and products transferred at a point in time 82,154 81,527 167,220 162,831 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 RMS The RMS business generates revenue through the commercial production and sale of research models, research products, and the provision of services related to the maintenance and monitoring of research models and management of clients’ research operations. Revenue from the sale of research models and products is recognized at a point in time when the customer obtains control of the product, which may be upon shipment or upon delivery based on the shipping terms of a contract. Revenue generated from research models services is recognized over time and is typically based on a right-to-invoice measure of progress (output method) as invoiced amounts correspond directly to the value of the Company’s performance to date. DSA The Discovery and Safety Assessment business provides a full suite of integrated drug discovery services directed at the identification, screening and selection of a lead compound for drug development and offers a full range of safety assessment services including bioanalysis, drug metabolism, pharmacokinetics, toxicology and pathology. Discovery and Safety Assessment services revenue is generally recognized over time using the cost-to-cost or right to invoice measures of progress, primarily representing fixed fee service contracts and per unit service contracts, respectively. Manufacturing The Manufacturing business includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification services; Biologics Testing Services (Biologics), which performs specialized testing of biologics; and Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens. Species identification service revenue is generally recognized at a point in time as identifications are completed by the Company. Biologics service revenue is generally recognized over time using the cost-to-cost measure of progress. Microbial Solutions and Avian product sales are generally recognized at a point in time when the customer obtains control of the product, which may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Transaction Price Allocated to Future Performance Obligations The Company discloses the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of June 27, 2020. Excluded from the disclosure is the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. The Company has assessed future performance obligations with respect to the COVID-19 pandemic uncertainties and believes there is an insignificant impact on the ability to meet future performance obligations and the amount of revenue to be recognized. Th e following table inclu des estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 27, 2020: Revenue Expected to be Recognized in Future Periods Less than 1 Year 1 to 3 Years 4 to 5 Years Beyond 5 Years Total (in thousands) DSA $ 255,160 $ 121,350 $ 5,195 $ 654 $ 382,359 Manufacturing 11,585 6,627 32 19 18,263 Total $ 266,745 $ 127,977 $ 5,227 $ 673 $ 400,622 Contract Balances from Contracts with Customers The timing of revenue recognition, billings and cash collections results in billed receivables (client receivables), contract assets (unbilled revenue), and contract liabilities (current and long-term deferred revenue and customer contract deposits) on the unaudited condensed consolidated balance sheets. The Company’s payment terms are generally 30 days in the United States and consistent with prevailing practice in international markets. A contract asset is recorded when a right to consideration in exchange for goods or services transferred to a customer is conditioned other than the passage of time. Client receivables are recorded separately from contract assets since only the passage of time is required before consideration is due. A contract liability is recorded when consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract. Contract liabilities are recognized as revenue after control of the products or services is transferred to the customer and all revenue recognition criteria have been met. The following table provides information about client receivables, contract assets, and contract liabilities from contracts with customers: June 27, 2020 December 28, 2019 (in thousands) Balances from contracts with customers: Client receivables $ 403,351 $ 395,740 Contract assets (unbilled revenue) 133,393 121,957 Contract liabilities (current and long-term deferred revenue) 186,198 192,788 Contract liabilities (customer contract deposits) 41,165 33,080 When the Company does not have the unconditional right to advanced billings, both advanced client payments and unpaid advanced client billings are excluded from deferred revenue, with the advanced billings also being excluded from client receivable s. The Company excluded approximately $13 million and $27 million of unpaid advanced client billings from both client receivables and deferred revenue in the accompanying unaudited condensed consolidated balance sheets as of June 27, 2020 and December 28, 2019, respectively. Advanced client payments of approximately $41 million and $33 million have been presented as customer contract deposits within other current liabilities in the accompanying unaudited condensed consolidated balance sheets as of June 27, 2020 and December 28, 2019, respectively. Other changes in the contract asset and the contract liability balances during the six months ended June 27, 2020 were as follows: (i) Changes due to business combinations: See Note 2. “Business Combinations” for client receivables, contract assets, and contract liabilities that were acquired as part of the HemaCare acquisition on January 3, 2020. (ii) Cumulative catch-up adjustments to revenue that affect the corresponding contract asset or contract liability, including adjustments arising from a change in the measure of progress, a change in an estimate of the transaction price (including any changes in the assessment of whether an estimate of variable consideration is constrained), or a contract modification: During the six months ended June 27, 2020, an immaterial cumulative catch-up adjustment to revenue was recorded. (iii) A change in the time frame for a right to consideration to become unconditional (that is, for a contract asset to be recorded as a client receivable): Approximatel y 75% of unbilled revenue as of December 28, 2019 was billed during the six months ended June 27, 2020. (iv) A change in the time frame for a performance obligation to be satisfied (that is, for the recognition of revenue arising from a contract liability): Approximately 75% of contr act liabilities as of December 28, 2019 were recognized as revenue during the six months ended June 27, 2020.

SEGMENT INFORMATION

SEGMENT INFORMATION6 Months Ended
Jun. 27, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATIONSEGMENT INFORMATION The Company’s three reportable segments are RMS, DSA, and Manufacturing. The following table presents revenue and other financial information by reportable segment: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS Revenue $ 116,549 $ 136,054 $ 262,545 $ 273,226 Operating income 3,844 31,512 31,217 69,344 Depreciation and amortization 9,126 4,981 17,878 9,303 Capital expenditures 6,621 5,049 12,033 9,161 DSA Revenue $ 442,564 $ 405,517 $ 881,247 $ 759,714 Operating income 72,241 63,514 144,524 110,219 Depreciation and amortization 41,101 37,549 82,431 71,333 Capital expenditures 16,175 15,141 30,904 23,989 Manufacturing Revenue $ 123,471 $ 115,997 $ 245,851 $ 229,197 Operating income 42,930 33,141 84,042 64,640 Depreciation and amortization 6,236 5,782 12,602 11,587 Capital expenditures 3,037 4,272 8,198 7,878 Reconciliations of segment operating income, depreciation and amortization, and capital expenditures to the respective consolidated amounts are as follows: Operating Income Depreciation and Amortization Capital Expenditures June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Three Months Ended: Total reportable segments $ 119,015 $ 128,167 $ 56,463 $ 48,312 $ 25,833 $ 24,462 Unallocated corporate (42,247) (48,399) 745 834 967 319 Total consolidated $ 76,768 $ 79,768 $ 57,208 $ 49,146 $ 26,800 $ 24,781 Six Months Ended: Total reportable segments $ 259,783 $ 244,203 $ 112,911 $ 92,223 $ 51,135 $ 41,028 Unallocated corporate (88,734) (94,643) 1,557 2,281 1,386 484 Total consolidated $ 171,049 $ 149,560 $ 114,468 $ 94,504 $ 52,521 $ 41,512 Revenue for each significant product or service offering is as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 A summary of unallocated corporate expense consists of the following: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Stock-based compensation $ 8,203 $ 10,718 $ 14,907 $ 18,992 Compensation, benefits, and other employee-related expenses 20,749 13,753 42,729 35,791 External consulting and other service expenses 4,917 4,094 7,386 7,904 Information technology 4,235 4,555 7,951 7,277 Depreciation 745 834 1,557 2,281 Acquisition and integration 869 12,470 7,852 17,942 Other general unallocated corporate 2,529 1,975 6,352 4,456 Total unallocated corporate expense $ 42,247 $ 48,399 $ 88,734 $ 94,643 Other general unallocated corporate expense consists of costs associated with departments such as senior executives, corporate accounting, legal, tax, human resources, treasury, and investor relations. Revenue by geographic area is as follows: U.S. Europe Canada Asia Pacific Other Consolidated (in thousands) Three Months Ended: June 27, 2020 $ 382,918 $ 190,935 $ 71,543 $ 35,965 $ 1,223 $ 682,584 June 29, 2019 367,924 182,770 68,902 36,213 1,759 657,568 Six Months Ended: June 27, 2020 $ 789,630 $ 381,197 $ 148,176 $ 67,794 $ 2,846 $ 1,389,643 June 29, 2019 718,100 349,135 122,881 69,392 2,629 1,262,137 Included in the Other category above are operations located in Brazil and Israel. Revenue represents sales originating in entities physically located in the identified geographic area.

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION6 Months Ended
Jun. 27, 2020
Supplemental Balance Sheet Information [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATIONSUPPLEMENTAL BALANCE SHEET INFORMATION The composition of trade receivables, net is as follows: June 27, 2020 December 28, 2019 (in thousands) Client receivables $ 403,351 $ 395,740 Unbilled revenue 133,393 121,957 Total 536,744 517,697 Less: Allowance for doubtful accounts (4,213) (3,664) Trade receivables, net $ 532,531 $ 514,033 The composition of inventories is as follows: June 27, 2020 December 28, 2019 (in thousands) Raw materials and supplies $ 25,426 $ 24,613 Work in process 36,616 35,852 Finished products 106,324 100,195 Inventories $ 168,366 $ 160,660 The composition of other current assets is as follows: June 27, 2020 December 28, 2019 (in thousands) Prepaid income tax $ 63,361 $ 54,358 Short-term investments 929 941 Restricted cash 465 431 Other 307 300 Other current assets $ 65,062 $ 56,030 The composition of other assets is as follows: June 27, 2020 December 28, 2019 (in thousands) Venture capital investments $ 124,730 $ 108,983 Strategic equity investments 17,087 13,996 Life insurance policies 36,001 38,207 Other long-term income tax assets 20,625 20,570 Restricted cash 1,557 1,601 Other 24,371 29,258 Other assets $ 224,371 $ 212,615 The composition of other current liabilities is as follows: June 27, 2020 December 28, 2019 (in thousands) Current portion of operating lease right-of-use liabilities $ 24,450 $ 20,357 Accrued income taxes 32,302 26,066 Customer contract deposits 41,165 33,080 Other 10,722 11,095 Other current liabilities $ 108,639 $ 90,598 The composition of other long-term liabilities is as follows: June 27, 2020 December 28, 2019 (in thousands) U.S. Transition Tax $ 50,057 $ 52,066 Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan 76,572 80,833 Long-term deferred revenue 15,788 20,983 Other 33,625 29,051 Other long-term liabilities $ 176,042 $ 182,933

VENTURE CAPITAL AND STRATEGIC E

VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS6 Months Ended
Jun. 27, 2020
Equity Method Investments and Joint Ventures [Abstract]
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTSVENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTSVenture capital investments were $124.7 million and $109.0 million as of June 27, 2020 and December 28, 2019, respectively. The Company’s total commitment to the venture capital funds as of June 27, 2020 was $130.4 million, of which the Company funded $87.5 million through that date. The Company received dividends totaling $2.4 million and $0.9 million for the three months ended June 27, 2020 and June 29, 2019, respectively. The Company received dividends totaling $3.3 million and $1.6 million for the six months ended June 27, 2020 and June 29, 2019, respectively. The Company recognized gains of $23.9 million and losses of $4.3 million related to the venture capital investments for the three months ended June 27, 2020 and June 29, 2019, respectively. The Company recognized gains of $11.9 million and gains of $6.3 million related to the venture capital investments for the six months ended June 27, 2020 and June 29, 2019, respectively. The Company also invests, with minority positions, directly in equity of predominantly privately-held companies. Strategic equity investments were $17.1 million and $14.0 million as of June 27, 2020 and December 28, 2019, respectively. The Company recognized an insignificant amount of gains and losses related to these investments for the three and six months ended June 27, 2020 and June 29, 2019.

FAIR VALUE

FAIR VALUE6 Months Ended
Jun. 27, 2020
Fair Value Disclosures [Abstract]
FAIR VALUEFAIR VALUE The Company has certain assets and liabilities recorded at fair value, which have been classified as Level 1, 2, or 3 within the fair value hierarchy: • Level 1 - Fair values are determined utilizing prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access, • Level 2 - Fair values are determined by utilizing quoted prices for identical or similar assets and liabilities in active markets or other market observable inputs such as interest rates, yield curves, and foreign currency spot rates, • Level 3 - Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. The fair value hierarchy level is determined by asset and class based on the lowest level of significant input. The observability of inputs may change for certain assets or liabilities. This condition could cause an asset or liability to be reclassified between levels. The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter. During the six months ended June 27, 2020 and June 29, 2019, there were no transfers between levels. Valuation methodologies used for assets and liabilities measured or disclosed at fair value are as follows: • Cash equivalents - Valued at market prices determined through third-party pricing services; • Foreign currency forward contracts - Valued using market observable inputs, such as forward foreign exchange points and foreign exchanges rates; • Life insurance policies - Valued at cash surrender value based on the fair value of underlying investments; • Debt instruments - The book value of the Company’s term and revolving loans, which are variable rate loans carried at amortized cost, approximates the fair value based on current market pricing of similar debt. The book value of the Company’s 5.5% Senior Notes due in 2026 and the 4.25% Senior Notes due in 2028 (Senior Notes), which are fixed rate debt, are carried at amortized cost. Fair value of the Senior Notes is based on quoted market prices and on borrowing rates available to the Company; and • Contingent consideration - Valued based on a probability weighting of the future cash flows associated with the potential outcomes. Assets and liabilities measured at fair value on a recurring basis are summarized below: June 27, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents $ — $ 89,453 $ — $ 89,453 Other assets: Life insurance policies — 28,169 — 28,169 Total assets measured at fair value $ — $ 117,622 $ — $ 117,622 Other current liabilities measured at fair value: Contingent consideration $ — $ — $ 2,142 $ 2,142 Total liabilities measured at fair value $ — $ — $ 2,142 $ 2,142 December 28, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents $ — $ 55,278 $ — $ 55,278 Other assets: Life insurance policies — 30,454 — 30,454 Total assets measured at fair value $ — $ 85,732 $ — $ 85,732 Other current liabilities measured at fair value: Contingent consideration $ — $ — $ 712 $ 712 Foreign currency forward contract — 876 — 876 Total liabilities measured at fair value $ — $ 876 $ 712 $ 1,588 Contingent Consideration The following table provides a rollforward of the contingent consideration related to previous business acquisitions. See Note 2, “Business Combinations.” Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 712 $ 3,033 Additions 2,131 2,869 Payments (230) (5,252) Adjustment of previously recorded contingent liability (468) — Foreign currency (3) 69 Ending balance $ 2,142 $ 719 The unobservable inputs used in the fair value measurement of the Company’s contingent consideration are the probabilities of successful achievement of certain financial targets and a discount rate. Increases or decreases in any of the probabilities of success would result in a higher or lower fair value measurement, respectively. Increases or decreases in the discount rate would result in a lower or higher fair value measurement, respectively. Debt Instruments The book value of the Company’s term and revolving loans, which are variable rate loans carried at amortized cost, approximates the fair value based on current market pricing of similar debt. As the fair value is based on significant other observable inputs, including current interest and foreign currency exchange rates, it is deemed to be Level 2 within the fair value hierarchy. The book value of the Company’s 2026 and 2028 Senior Notes is a fixed rate obligation carried at amortized cost. Fair value is based on quoted market prices as well as borrowing rates available to the Company. As the fair value is based on significant other observable outputs, it is deemed to be Level 2 within the fair value hierarchy. The book value and fair value of the Company’s 2026 and 2028 Senior Notes is summarized below: June 27, 2020 December 28, 2019 Book Value Fair Value Book Value Fair Value 2026 Senior Notes $ 500,000 $ 521,850 $ 500,000 $ 537,500 2028 Senior Notes 500,000 497,500 500,000 510,000

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS6 Months Ended
Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETSGOODWILL AND INTANGIBLE ASSETS Goodwill The following table provides a rollforward of the Company’s goodwill: Adjustments to Goodwill December 28, 2019 Acquisitions Foreign Exchange June 27, 2020 (in thousands) RMS $ 56,586 $ 209,104 $ (156) $ 265,534 DSA 1,345,223 (629) (9,995) 1,334,599 Manufacturing 138,756 — (3,248) 135,508 Goodwill $ 1,540,565 $ 208,475 $ (13,399) $ 1,735,641 The increase in goodwill during the six months ended June 27, 2020 related primarily to the acquisition of HemaCare in the RMS reportable segment, which was partially offset by the impact of foreign exchange. Intangible Assets, Net The following table displays intangible assets, net by major class: June 27, 2020 December 28, 2019 Gross Accumulated Amortization Net Gross Accumulated Amortization Net (in thousands) Backlog $ 28,660 $ (27,703) $ 957 $ 28,865 $ (26,895) $ 1,970 Technology 123,682 (67,548) 56,134 122,106 (57,737) 64,369 Trademarks and trade names 15,458 (5,138) 10,320 8,430 (4,901) 3,529 Other 20,056 (13,497) 6,559 18,279 (12,307) 5,972 Other intangible assets 187,856 (113,886) 73,970 177,680 (101,840) 75,840 Client relationships 1,088,035 (355,814) 732,221 934,668 (321,095) 613,573 Intangible assets $ 1,275,891 $ (469,700) $ 806,191 $ 1,112,348 $ (422,935) $ 689,413 The increase in intangible assets, net during the six months ended June 27, 2020 related primarily to the acquisition of HemaCare.

LONG-TERM DEBT AND FINANCE LEAS

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS6 Months Ended
Jun. 27, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONSLONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS Long-term debt, net and finance leases consists of the following: June 27, 2020 December 28, 2019 (in thousands) Term loans $ 175,000 $ 193,750 Revolving facility 1,062,850 676,134 2026 Senior Notes 500,000 500,000 2028 Senior Notes 500,000 500,000 Other debt 11,293 5,781 Finance leases (Note 16) 27,883 30,527 Total debt and finance leases 2,277,026 1,906,192 Less: Current portion of long-term debt 50,505 35,548 Current portion of finance leases (Note 16) 3,208 2,997 Current portion of long-term debt and finance leases 53,713 38,545 Long-term debt and finance leases 2,223,313 1,867,647 Debt discount and debt issuance costs (16,156) (17,981) Long-term debt, net and finance leases $ 2,207,157 $ 1,849,666 As of June 27, 2020 and December 28, 2019, the weighted average interest rate on the Company’s debt was 3.04% and 3.46%, respectively. Term Loans and Revolving Facility The Company has a credit facility consisting of a $750 million term loan and a $2.05 billion multi-currency revolving facility (Credit Facility). The term loan facility matures in 19 quarterly installments with the last installment due March 26, 2023. On October 23, 2019, the Company prepaid $500.0 million of the term loan with proceeds from a $500.0 million unregistered private offering (see 2028 Senior Notes below). The revolving facility matures on March 26, 2023, and requires no scheduled payment before that date. Under specified circumstances, the Company has the ability to increase the term loan and/or revolving facility by up to $1.0 billion in the aggregate. The interest rates applicable to the term loan and revolving facility under the Credit Facility are, at the Company’s option, equal to either the base rate (which is the higher of (1) the prime rate, (2) the federal funds rate plus 0.50%, or (3) the one-month adjusted LIBOR rate plus 1.0%) or the adjusted LIBOR rate, plus an interest rate margin based upon the Company’s leverage ratio. The Credit Facility includes certain customary representations and warranties, events of default, notices of material adverse changes to the Company’s business and negative and affirmative covenants. These covenants include (1) maintenance of a ratio of consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) less capital expenditures to consolidated cash interest expense, for any period of four consecutive fiscal quarters, of no less than 3.50 to 1.0 as well as (2) maintenance of a ratio of consolidated indebtedness to consolidated EBITDA for any period of four consecutive fiscal quarters, of no more than 4.00 to 1.0. As of June 27, 2020, the C ompany was compliant with all covenant s. The obligations of the Company under the Credit Facility are collateralized by substantially all of the assets of the Company. During the six months ended June 27, 2020 and June 29, 2019, the Company had multiple U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Company’s Credit Facility, which ranged from $300 million to $400 million. This resulted in foreign currency losses recognized in Other income, net of $4.2 million and $2.8 million during the six months ended June 27, 2020 and June 29, 2019, respectively, related to the remeasurement of the underlying debt. The Company entered int o foreign exchange forward contracts to limit its foreign currency exposures related to these borrowings and recognized gains of $6.1 million and $7.3 million during the six months ended June 27, 2020 and June 29, 2019, respectively, within Interest expense. As of June 27, 2020, the Company did not have any outstanding borrowings in a currency different than its respective functional currency. Se e Note 14, “Foreign Currency Contracts”, for further discussion. Base Indenture for Senior Notes The Company has an indenture (Base Indenture) with MUFG Union Bank, N.A., (Trustee). The purpose of the Indenture was to allow the Company the ability to issue senior notes. The Company has entered into two supplemental indentures in connection with the senior notes described below. 2026 Senior Notes In fiscal year 2018, the Company entered into the first supplemental indenture (First Supplemental Indenture) with the Trustee in connection with an offering of $500 million in aggregate principal amount of the Company’s 5.5% Senior Notes (2026 Senior Notes), due in 2026, in an unregistered offering. Under the terms of the First Supplemental Indenture, interest on the Senior Notes is payable semi-annually on April 1 and October 1, beginning on October 1, 2018. 2028 Senior Notes In fiscal year 2019, the Company entered into a second supplemental indenture (Second Supplemental Indenture) with the Trustee in connection with the offering of $500 million in aggregate principal amount of the Company’s 4.25% Senior Notes (2028 Senior Notes), due in 2028, in an unregistered offering. Under the terms of the Second Supplemental Indenture, interest on the 2028 Senior Notes is payable semi-annually on May 1 and November 1, beginning on May 1, 2020. Letters of Credit As of June 27, 2020 and December 28, 2019, the Company had $8.1 million and $7.5 million, respectively, in outstanding letters of credit.

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTERESTS6 Months Ended
Jun. 27, 2020
Equity [Abstract]
EQUITY AND NONCONTROLLING INTERESTSEQUITY AND NONCONTROLLING INTERESTS Earnings Per Share The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Numerator: Net income $ 67,668 $ 44,309 $ 118,505 $ 99,997 Less: Net income attributable to noncontrolling interests 233 581 301 1,136 Net income attributable to common shareholders $ 67,435 $ 43,728 $ 118,204 $ 98,861 Denominator: Weighted-average shares outstanding - Basic 49,553 48,772 49,371 48,615 Effect of dilutive securities: Stock options, restricted stock units and performance share units 693 890 747 984 Weighted-average shares outstanding - Diluted 50,246 49,662 50,118 49,599 Options to purchase 0.6 million and 0.4 million shares for the three months ended June 27, 2020 and June 29, 2019, respectively, as well as a non-significant number of restricted stock units (RSUs) and performance share units (PSUs), were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Options to purchase 0.6 million and 0.4 million shares for the six months ended June 27, 2020 and June 29, 2019, respectively, as well as a non-significant number of RSUs and PSUs, were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Basic weighted-average shares outstanding for the six months ended June 27, 2020 and June 29, 2019 excluded the impact of 0.9 million and 1.0 million shares of non-vested RSUs and PSUs, respectively. Treasury Shares During the six months ended June 27, 2020 and June 29, 2019, the Company did not repurchase any shares under its authorized stock repurchase program. As of June 27, 2020, the Company had $129.1 million remaining on the authorized stock repurchase program. The Company’s stock-based compensation plans permit the netting of common stock upon vesting of RSUs and PSUs in order to satisfy individual statutory tax withholding requirements. During the six months ended June 27, 2020 and June 29, 2019, the Company acquired 0.1 million shares for $23.8 million and 0.1 million shares for $17.9 million, respectively, from such netting. Accumulated Other Comprehensive Income (Loss) Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows: Foreign Currency Translation Adjustment Pension and Other Post-Retirement Benefit Plans Total (in thousands) December 28, 2019 $ (87,578) $ (90,441) $ (178,019) Other comprehensive loss before reclassifications (37,611) — (37,611) Amounts reclassified from accumulated other comprehensive loss — 2,739 2,739 Net current period other comprehensive income (loss) (37,611) 2,739 (34,872) Income tax expense (benefit) (761) 584 (177) June 27, 2020 $ (124,428) $ (88,286) $ (212,714) Nonredeemable Noncontrolling Interest The Company has an investment in an entity whose financial results are consolidated in the Company’s unaudited condensed consolidated financial statements, as it has the ability to exercise control over this entity. The interest of the noncontrolling party in this entity has been recorded as noncontrolling interest within Equity in the accompanying unaudited condensed consolidated balance sheets. The activity within the nonredeemable noncontrolling interest was immaterial during the three and six months ended June 27, 2020 and June 29, 2019. Redeemable Noncontrolling Interests The Company has a 92% equity interest in Vital River with an 8% redeemable noncontrolling interest. The Company has the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 8% equity interest at a contractually defined redemption value, subject to a redemption floor, which represents a derivative embedded within the equity instrument. These rights are exercisable beginning in 2022 and are accelerated in certain events. The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the contractually defined redemption value ( $14.8 million as of June 27, 2020) and the carrying amount adjusted for net income (loss) attributable to the noncontrolling interest. As the noncontrolling interest holders have the ability to require the Company to purchase the remaining 8% interest, the noncontrolling interest is classified in the mezzanine section of the unaudited condensed consolidated balance sheets, which is presented above the equity section and below liabilities. The amount that the Company could be required to pay to purchase the remaining 8% equity interest is not limited. As part of the Citoxlab acquisition in 2019, the Company acquired an approximate 90% equity interest in a subsidiary that was fully consolidated under the voting interest model, which included an approximate 10% redeemable noncontrolling interest. In February 2020, the Company purchased the remaining approximate 10% noncontrolling interest for approximately $4 million and assumption of a contingent consideration liability of approximately $2 million payable to the former shareholders. See Note 7. “Fair Value”. In 2019, the Company acquired an 80% equity interest in a supplier that is fully consolidated under the voting interest model, which includes a 20% redeemable noncontrolling interest. The Company has the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 20% equity interest at its appraised value. These rights are exercisable beginning in 2022. The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the appraised value and the carrying amount adjusted for net income (loss) attributable to the noncontrolling interest or a predetermined floor value. As the noncontrolling interest holders have the ability to require the Company to purchase the remaining 20% interest, the noncontrolling interest is classified in the mezzanine section of the unaudited condensed consolidated balance sheets, which is presented above the equity section and below liabilities. The amount that the Company could be required to pay to purchase the remaining 20% equity interest is not limited. The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests: Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 28,647 $ 18,525 Acquisition of noncontrolling interest (3,732) — Adjustment to Vital River redemption value (three months ended March 30, 2019) — 1,451 Purchase of Vital River 5% equity interest — (8,745) Change in fair value of Vital River 8% equity interest, included in additional-paid-in-capital — 2,708 Modification of Vital River 8% purchase option — 2,196 Acquisition of a 10% non-controlling interest through acquiring Citoxlab — 4,095 Net (loss) income attributable to noncontrolling interests (538) 284 Foreign currency translation (493) (35) Ending balance $ 23,884 $ 20,479

INCOME TAXES

INCOME TAXES6 Months Ended
Jun. 27, 2020
Income Tax Disclosure [Abstract]
INCOME TAXESINCOME TAXESThe Company’s effective tax rates for the three months ended June 27, 2020 and June 29, 2019 were 19.4% and 24.9%, respectively. The Company’s effective tax rates for the six months ended June 27, 2020 and June 29, 2019 were 15.0% and 20.2%, respectively. For the three and six months ended June 27, 2020, the decrease was primarily attributable to an increased tax benefit from stock-based compensation deductions in 2020 as well as a reduction in non-deductible transaction costs compared to the corresponding period in 2019. For the three months ended June 27, 2020, the Company’s unrecognized tax benefits decreased by $1.2 million to $17.9 million, primarily due to audit settlements of prior period position s. The amount of unrecognized income tax benefits that would impact the effective tax rate decreased by $1.2 million to $15.1 million, for the same reasons listed above. The accrued interest on unrecognized tax benefits was $2.0 million at June 27, 2020. The Company estimates that it is reasonably possible that the unrecognized tax benefits will decrease by up to $1.4 million over the next twelve-month period, primarily due to the outcome of pending tax audits. The Company conducts business in a number of tax jurisdictions. As a result, it is subject to tax audits on a regular basis including, but not limited to, such major jurisdictions as the U.S., the U.K., China, France, Germany, and Canada. With few exceptions, the Company is no longer subject to U.S. and international income tax examinations for years before 2016. The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., Canada, the Netherlands, Germany and France. The Company does not anticipate resolution of these audits will have a material impact on its consolidated financial statements.

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS6 Months Ended
Jun. 27, 2020
Retirement Benefits [Abstract]
PENSION AND OTHER POST-RETIREMENT BENEFIT PLANSPENSION AND OTHER POST-RETIREMENT BENEFIT PLANS The following table provides the components of net periodic cost for the Company’s pension, deferred compensation and executive supplemental life insurance retirement plans: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Service cost $ 798 $ 757 $ 1,595 $ 1,387 Interest cost 2,354 2,875 4,709 5,750 Expected return on plan assets (2,982) (3,235) (5,963) (6,470) Amortization of prior service cost (credit) (126) 91 (251) 182 Amortization of net loss 1,586 488 3,172 977 Other adjustments 125 — 250 — Net periodic cost $ 1,755 $ 976 $ 3,512 $ 1,826 Service cost is recorded as an operating expense within the accompanying unaudited condensed consolidated statements of income. All other components of net periodic costs are recorded in Other expense, net in the accompanying unaudited condensed consolidated statements of income. The net periodic cost for the Company’s other post-retirement benefit plan for the three and six months ended June 27, 2020 and June 29, 2019 was not significant.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION6 Months Ended
Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATIONSTOCK-BASED COMPENSATION The Company has stock-based compensation plans under which employees and non-employee directors may be granted stock-based awards such as stock options, restricted stock, RSUs, and PSUs. The following table provides stock-based compensation by the financial statement line item in which it is reflected: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Cost of revenue $ 2,320 $ 2,489 $ 4,355 $ 4,438 Selling, general and administrative 10,823 14,016 19,748 24,966 Stock-based compensation, before income taxes 13,143 16,505 24,103 29,404 Provision for income taxes (1,988) (2,855) (3,539) (4,902) Stock-based compensation, net of income taxes $ 11,155 $ 13,650 $ 20,564 $ 24,502 During the six months ended June 27, 2020, the Company granted stock options representing 0.3 million common shares with a per-share weighted-average grant date fair value of $53.20, RSUs representing 0.2 million common shares with a per-share weighted-average grant date fair value of $178.73, and PSUs representing 0.1 million common shares with a per-share

FOREIGN CURRENCY CONTRACTS

FOREIGN CURRENCY CONTRACTS6 Months Ended
Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FOREIGN CURRENCY CONTRACTSFOREIGN CURRENCY CONTRACTS Cross currency loans The Company periodically enters into foreign exchange forward contracts to limit its foreign currency exposure related to U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility. These contracts are not designated as hedging instruments. Any gains or losses on these forward contracts are recognized immediately in Interest expense in the unaudited condensed consolidated statements of income. The Company had no open forward contracts related to a U.S. dollar denominated loan borrowed by a non-U.S. Euro functional currency at June 27, 2020 or December 28, 2019. Additionally, the Company did not enter into any these contracts during the three months ended June 27, 2020. The following table summarizes the effect of the foreign exchange forward contracts entered into to limit the Company’s foreign currency exposure related to U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility on the Company’s unaudited condensed consolidated statements of income: June 27, 2020 June 29, 2019 Location of gain (loss) Financial statement caption amount Amount of gain (loss) Financial statement caption amount Amount of gain (loss) (in thousands) Three Months Ended: Interest expense $ (19,352) $ — $ (20,835) $ (1,606) Six Months Ended: Interest expense $ (34,419) $ 6,067 $ (30,822) $ 7,311 Intercompany loans The Company periodically enters into foreign exchange forward contracts to limit its foreign currency exposure related to certain intercompany loans. These contracts are not designated as hedging instruments. Any gains or losses on forward contracts associated with intercompany loans are recognized immediately in Other income, net and are largely offset by the remeasurement of the underlying intercompany loans. The Company entered into foreign currency forward contracts during 2020 and 2019. One contract remained open at December 28, 2019, which had a duration of less than one month and is recorded at fair value in the Company’s accompanying unaudited condensed consolidated balance sheets. The Company did not have any open foreign currency forward contracts related to certain intercompany loans at June 27, 2020. The notional amount and fair value of the open contract is summarized as follows: December 28, 2019 Notional Amount Fair Value Balance Sheet Location (in thousand) $ 115,038 $ (876) Other current liabilities The following table summarizes the effect of the foreign exchange forward contracts in connection with certain intercompany loans on the Company’s unaudited condensed consolidated statements of income: June 27, 2020 June 29, 2019 Location of gain (loss) Financial statement caption amount Amount of gain (loss) Financial statement caption amount Amount of gain (loss) (in thousands) Three Months Ended: Other (expense) income, net $ 26,260 $ — $ (213) $ — Six Months Ended: Other income (expense), net $ 2,189 $ (892) $ 6,093 $ —

RESTRUCTURING AND ASSET IMPAIRM

RESTRUCTURING AND ASSET IMPAIRMENTS6 Months Ended
Jun. 27, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND ASSET IMPAIRMENTSRESTRUCTURING AND ASSET IMPAIRMENTS Global Restructuring Initiatives In recent fiscal years, the Company has undertaken productivity improvement initiatives within all reportable segments at various locations across the U.S., Canada, Europe, China, and Japan. This includes workforce right-sizing and scalability initiatives, resulting in severance and transition costs; and cost related to the consolidation of facilities, resulting in asset impairment and accelerated depreciation charges. The following table presents a summary of restructuring costs related to these initiatives within the unaudited condensed consolidated statements of income. Three Months Ended June 27, 2020 June 29, 2019 Severance and Transition Costs Asset Impairments and Other Costs Total Severance and Transition Costs Asset Impairments and Other Costs Total (in thousands) Cost of services provided and products sold (excluding amortization of intangible assets) $ 3,299 $ 30 $ 3,329 $ 371 $ 356 $ 727 Selling, general and administrative 2,089 2,933 5,022 940 18 958 Total $ 5,388 $ 2,963 $ 8,351 $ 1,311 $ 374 $ 1,685 Six Months Ended June 27, 2020 June 29, 2019 Severance and Transition Costs Asset Impairments and Other Costs Total Severance and Transition Costs Asset Impairments and Other Costs Total Cost of services provided and products sold (excluding amortization of intangible assets) $ 3,545 $ 259 $ 3,804 $ 638 $ 1,505 $ 2,143 Selling, general and administrative 2,172 2,933 5,105 1,073 18 1,091 Total $ 5,717 $ 3,192 $ 8,909 $ 1,711 $ 1,523 $ 3,234 The following table presents restructuring costs by reportable segment for these productivity improvement initiatives: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS $ 769 $ 641 $ 759 $ 942 DSA 6,186 672 6,498 685 Manufacturing 1,396 372 1,652 1,607 Total $ 8,351 $ 1,685 $ 8,909 $ 3,234 Rollforward of restructuring activities The following table provides a rollforward for all of the Company’s severance and transition costs, and lease obligation liabilities related to all restructuring activities: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 2,531 $ 2,113 $ 6,405 $ 2,921 Expense (excluding non-cash charges) 6,357 1,609 6,874 2,855 Payments / utilization (1,674) (970) (5,917) (3,004) Foreign currency adjustments (15) 6 (163) (14) Ending balance $ 7,199 $ 2,758 $ 7,199 $ 2,758 As of June 27, 2020 and June 29, 2019, $7.0 million and $2.7 million of severance and other personnel related costs liabilities and lease obligation liabilities, respectively, were included in accrued compensation and accrued liabilities within the Company’s unaudited condensed consolidated balance sheets and $0.2 million and $0.1 million, respectively, were included in other long-term liabilities within the Company’s unaudited condensed consolidated balance sheets.

LEASES

LEASES6 Months Ended
Jun. 27, 2020
Leases [Abstract]
LEASESLEASES Operating and Finance Leases Right-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows: June 27, 2020 December 28, 2019 (in thousands) Operating leases Operating lease right-of-use assets, net $ 169,192 $ 140,085 Other current liabilities $ 24,450 $ 20,357 Operating lease right-of-use liabilities 147,348 116,252 Total operating lease liabilities $ 171,798 $ 136,609 Finance leases Property, plant and equipment, net $ 30,225 $ 32,519 Current portion of long-term debt and finance leases $ 3,208 $ 2,997 Long-term debt, net and finance leases 24,675 27,530 Total finance lease liabilities $ 27,883 $ 30,527 The components of operating and finance lease costs were as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Operating lease costs $ 7,893 $ 7,887 $ 15,971 $ 15,594 Finance lease costs: Amortization of right-of-use assets 937 931 1,888 1,852 Interest on lease liabilities 323 345 663 641 Short-term lease costs 525 204 1,114 396 Variable lease costs 1,067 930 2,112 1,265 Sublease income (190) (45) (776) (91) Total lease costs $ 10,555 $ 10,252 $ 20,972 $ 19,657 Other information related to leases was as follows: Supplemental cash flow information Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Cash flows included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,149 $ 13,214 Operating cash flows from finance leases 663 715 Finance cash flows from finance leases 2,467 1,842 Non-cash leases activity: Right-of-use lease assets obtained in exchange for new operating lease liabilities $ 46,493 $ 5,028 Right-of-use lease assets obtained in exchange for new finance lease liabilities 735 4,508 Lease term and discount rate As of June 27, 2020 Weighted-average remaining lease term (in years) Operating lease 8.36 Finance lease 12.61 Weighted-average discount rate Operating lease 4.18 Finance lease 4.53 At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability if readily determinable. If not readily determinable or leases do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate. As of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows: Operating Leases Finance Leases (in thousands) 2020 (excluding the six months ended June 27, 2020) $ 15,601 $ 2,378 2021 29,819 3,789 2022 25,533 3,236 2023 22,487 2,933 2024 21,872 2,719 Thereafter 91,026 21,795 Total minimum future lease payments 206,338 36,850 Less: Imputed interest 34,540 8,967 Total lease liabilities $ 171,798 $ 27,883 Total minimum future lease payments (predominantly operating leases) of approximately $44 million for leases that have not commenced as of June 27, 2020, as the Company does not yet control the underlying assets, are not included in the unaudited condensed consolidated financial statements. These leases are expected to commence between fiscal years 2021 and 2024 with lease terms of approximately 10 to 15 years.
LEASESLEASES Operating and Finance Leases Right-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows: June 27, 2020 December 28, 2019 (in thousands) Operating leases Operating lease right-of-use assets, net $ 169,192 $ 140,085 Other current liabilities $ 24,450 $ 20,357 Operating lease right-of-use liabilities 147,348 116,252 Total operating lease liabilities $ 171,798 $ 136,609 Finance leases Property, plant and equipment, net $ 30,225 $ 32,519 Current portion of long-term debt and finance leases $ 3,208 $ 2,997 Long-term debt, net and finance leases 24,675 27,530 Total finance lease liabilities $ 27,883 $ 30,527 The components of operating and finance lease costs were as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Operating lease costs $ 7,893 $ 7,887 $ 15,971 $ 15,594 Finance lease costs: Amortization of right-of-use assets 937 931 1,888 1,852 Interest on lease liabilities 323 345 663 641 Short-term lease costs 525 204 1,114 396 Variable lease costs 1,067 930 2,112 1,265 Sublease income (190) (45) (776) (91) Total lease costs $ 10,555 $ 10,252 $ 20,972 $ 19,657 Other information related to leases was as follows: Supplemental cash flow information Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Cash flows included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,149 $ 13,214 Operating cash flows from finance leases 663 715 Finance cash flows from finance leases 2,467 1,842 Non-cash leases activity: Right-of-use lease assets obtained in exchange for new operating lease liabilities $ 46,493 $ 5,028 Right-of-use lease assets obtained in exchange for new finance lease liabilities 735 4,508 Lease term and discount rate As of June 27, 2020 Weighted-average remaining lease term (in years) Operating lease 8.36 Finance lease 12.61 Weighted-average discount rate Operating lease 4.18 Finance lease 4.53 At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability if readily determinable. If not readily determinable or leases do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate. As of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows: Operating Leases Finance Leases (in thousands) 2020 (excluding the six months ended June 27, 2020) $ 15,601 $ 2,378 2021 29,819 3,789 2022 25,533 3,236 2023 22,487 2,933 2024 21,872 2,719 Thereafter 91,026 21,795 Total minimum future lease payments 206,338 36,850 Less: Imputed interest 34,540 8,967 Total lease liabilities $ 171,798 $ 27,883 Total minimum future lease payments (predominantly operating leases) of approximately $44 million for leases that have not commenced as of June 27, 2020, as the Company does not yet control the underlying assets, are not included in the unaudited condensed consolidated financial statements. These leases are expected to commence between fiscal years 2021 and 2024 with lease terms of approximately 10 to 15 years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES6 Months Ended
Jun. 27, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIESCOMMITMENTS AND CONTINGENCIES Litigation Various lawsuits, claims and proceedings of a nature considered normal to its business are pending against the Company. While the outcome of any of these proceedings cannot be accurately predicted, the Company does not believe the ultimate resolution of any of these existing matters would have a material adverse effect on the Company’s business or financial condition.

SUBSEQUENT EVENT

SUBSEQUENT EVENT6 Months Ended
Jun. 27, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTSUBSEQUENT EVENTOn August 4, 2020 the Company signed a definitive agreement to acquire Cellero, LLC (Cellero), a provider of cellular products for cell therapy developers and manufacturers worldwide. The addition of Cellero will enhance the Company’s unique, comprehensive solutions for the high-growth cell therapy market, strengthening the ability to help accelerate clients’ critical programs from basic research and proof-of-concept to regulatory approval and commercialization. It will also expand the Company’s access to high-quality, human-derived biomaterials with Cellero’s donor sites in the United States. The proposed purchase price will be approximately $38 million in cash, and the transaction is expected to close in August 2020, subject to customary closing conditions. The acquisition is expected to be funded by cash on hand. Cellero is expected to be reported as part of the Company’s RMS segment.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)6 Months Ended
Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of EstimatesThe preparation of unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires that the Company make estimates and judgments that may affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, judgments, and methodologies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known. On March 11, 2020, the World Health Organization declared the outbreak of a strain of novel coronavirus disease, COVID-19, a global pandemic. The COVID-19 pandemic is dynamic and expanding, and its ultimate scope, duration and effects are uncertain. This pandemic has and continues to result in, and any future epidemic or pandemic crises may potentially result in, direct and indirect adverse effects on the Company’s industry and customers, which in turn has (with respect to COVID-19) and may (with respect to future epidemics or crises) impact the Company’s business, results of operations and financial condition. Further, the COVID-19 pandemic may also affect the Company’s operating and financial results in a manner that is not presently known to the Company or that the Company currently does not expect to present significant risks to its operations or financial results. As of the date of issuance of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s condensed consolidated financial statements.
ConsolidationThe Company’s unaudited condensed consolidated financial statements reflect its financial statements and those of its subsidiaries in which the Company holds a controlling financial interest. For consolidated entities in which the Company owns or is exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interests in its consolidated statements of income equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties. Intercompany balances and transactions are eliminated in consolidation.
Fiscal PeriodThe Company’s fiscal year is typically based on 52-weeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31.
Segment ReportingThe Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research Products businesses. Research Models includes the commercial production and sale of small research models, as well as the supply of large research models. Research Model Services includes: Genetically Engineered Models and Services (GEMS), which performs contract breeding and other services associated with genetically engineered models; Research Animal Diagnostic Services (RADS), which provides health monitoring and diagnostics services related to research models; and Insourcing Solutions (IS), which provides colony management of its clients’ research operations (including recruitment, training, staffing, and management services). Research Products supplies controlled, consistent, customized primary cells and blood components derived from normal and mobilized peripheral blood, bone marrow, and cord blood. The Company’s DSA reportable segment includes services required to take a drug through the early development process including discovery services, which are non-regulated services to assist clients with the identification, screening, and selection of a lead compound for drug development, and regulated and non-regulated (GLP and non-GLP) safety assessment services. The Company’s Manufacturing reportable segment includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification
Newly Adopted and Newly Issued Accounting PronouncementsIn August 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computer Arrangement that is a Service Contract.” ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 removes the disclosure requirement for the amount and reasons for transfers between Level 1 and Level 2 fair value measurements as well as the process for Level 3 fair value measurements. In addition, the ASU adds the disclosure requirements for changes in unrealized gains and losses included in Other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period as well as the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU 2018-14, “Compensation Retirement Benefits - Defined Benefit Plans -General (Subtopic 715-20).” ASU 2018-14 removes the requirements to disclose the amounts in Accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year and the related party disclosures about the amount of future annual benefits covered by insurance contracts. In addition, the ASU adds the requirement to disclose an explanation for any significant gains and losses related to changes in the benefit obligation for the period. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment.” The standard simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. This standard became effective for the Company in the three months ended March 28, 2020 and did not have an impact on the unaudited condensed consolidated financial statements and related disclosures. The Company performs its annual impairment test during the fourth quarter of a fiscal year and does not expect any significant impact on the consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses”. The standard, including subsequently issued amendments, requires a financial asset measured at amortized cost basis, such as trade and notes receivables, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. This standard became effective for the Company in the three months ended March 28, 2020 and did not have a significant impact on the unaudited condensed consolidated financial statements and related disclosures. Newly Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU offers temporary optional expedients and exceptions for applying U.S. GAAP to modifications to agreements such as loans, debt securities, derivatives, and borrowings which reference LIBOR or another reference rate that is expected to be discontinued by December 31, 2021. The expedients and exceptions provided by the standard do not apply to modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and are retained through the end of the hedging relationship. The ASU is effective until December 31, 2022 when the replacement for LIBOR is expected to be completed. The interest rate on the Company’s senior credit facility, which matures in fiscal year 2023, is linked to LIBOR. The Company is in the process of evaluating options for transitioning away from the senior credit facility’s use of LIBOR and expects to be completed by the time LIBOR is phased out. The Company is still evaluating the impact this standard will have on its consolidated financial statements and related disclosures and has yet to elect an adoption date. In January 2020, the FASB issued ASU 2020-01, “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).” ASU 2020-01 states any equity security transitioning from the alternative method of accounting under Topic 321 to the equity method, or vice versa, due to an observable transaction will be remeasured immediately before the transition. In addition, the ASU clarifies the accounting for certain non-derivative forward contracts or purchased call options to acquire equity securities stating such instruments will be measured using the fair value principles of Topic 321 before settlement or exercise. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied on a prospective basis. Early adoption is permitted. The Company is still evaluating the impact this standard will have on its consolidated financial statements and related disclosures, but does not believe t here will be a material impact upon adoption. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing exceptions within the general principles of Topic 740 regarding the calculation of deferred tax liabilities, the incremental approach for intraperiod tax allocation, and calculating income taxes in an interim period. In addition, the ASU adds clarifications to the accounting for franchise tax (or similar tax), which is partially based on income, evaluating tax basis of goodwill recognized from a business combination, and reflecting the effect of any enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied either retrospectively or prospectively based upon the applicable amendments. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements an d related disclosures.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)6 Months Ended
Jun. 27, 2020
Business Combinations [Abstract]
Schedule of Purchase Price AllocationThe purchase allocation of $490.4 million, net of $36.7 million of cash acquired was as follows: April 29, 2019 (in thousands) Trade receivables $ 35,405 Inventories 5,282 Other current assets (excluding cash) 13,917 Property, plant and equipment 88,605 Goodwill 280,161 Definite-lived intangible assets 162,400 Other long-term assets 20,063 Deferred revenue (15,278) Current liabilities (46,081) Deferred tax liabilities (27,458) Other long-term liabilities (22,624) Redeemable noncontrolling interest (4,035) Total purchase price allocation $ 490,357 The purchase allocation of $23.1 million, net of $0.3 million of cash acquired was as follows: August 28, 2019 (in thousands) Trade receivables $ 189 Inventories 7,644 Property, plant and equipment 1,462 Goodwill 12,591 Other long-term assets 11,849 Current liabilities (441) Deferred tax liabilities (1,253) Other long-term liabilities (238) Redeemable noncontrolling interest (8,740) Total purchase price allocation $ 23,063
Schedule of Definite-Lived Intangible Assets Acquired as Part of Business CombinationThe breakout of definite-lived intangible assets acquired was as follows: Definite-Lived Intangible Assets Weighted Average Amortization Life (in thousands) (in years) Client relationships $ 170,390 19 Trade name 7,330 10 Other intangible assets 5,820 3 Total definite-lived intangible assets $ 183,540 18 The breakout of definite-lived intangible assets acquired was as follows: Definite-Lived Intangible Assets Weighted Average Amortization Life (in thousands) (in years) Client relationships $ 134,600 13 Developed technology 19,900 3 Backlog 7,900 1 Total definite-lived intangible assets $ 162,400 12
Schedule of Business Acquisition, Pro Forma InformationThree Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) (unaudited) Revenue $ 682,584 $ 668,095 $ 1,389,661 $ 1,281,551 Net income attributable to common shareholders 67,383 42,467 123,088 94,654 June 29, 2019 Three Months Ended Six Months Ended Revenue $ 673,645 $ 1,325,483 Net income attributable to common shareholders 53,625 114,653

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)6 Months Ended
Jun. 27, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of RevenueThe following tables disaggregate the Company’s revenue by major business line and timing of transfer of products or services: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Major Products/Service Lines: RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Timing of Revenue Recognition: RMS Services and products transferred over time $ 57,357 $ 57,321 $ 117,398 $ 112,134 Services and products transferred at a point in time 59,192 78,733 145,147 161,092 DSA Services and products transferred over time 442,447 405,351 881,011 759,429 Services and products transferred at a point in time 117 166 236 285 Manufacturing Services and products transferred over time 41,317 34,470 78,631 66,366 Services and products transferred at a point in time 82,154 81,527 167,220 162,831 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Revenue for each significant product or service offering is as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Revenue by geographic area is as follows: U.S. Europe Canada Asia Pacific Other Consolidated (in thousands) Three Months Ended: June 27, 2020 $ 382,918 $ 190,935 $ 71,543 $ 35,965 $ 1,223 $ 682,584 June 29, 2019 367,924 182,770 68,902 36,213 1,759 657,568 Six Months Ended: June 27, 2020 $ 789,630 $ 381,197 $ 148,176 $ 67,794 $ 2,846 $ 1,389,643 June 29, 2019 718,100 349,135 122,881 69,392 2,629 1,262,137
Schedule of Estimated Revenue Related to Performance ObligationsTh e following table inclu des estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of June 27, 2020: Revenue Expected to be Recognized in Future Periods Less than 1 Year 1 to 3 Years 4 to 5 Years Beyond 5 Years Total (in thousands) DSA $ 255,160 $ 121,350 $ 5,195 $ 654 $ 382,359 Manufacturing 11,585 6,627 32 19 18,263 Total $ 266,745 $ 127,977 $ 5,227 $ 673 $ 400,622
Schedule of Client Receivables, Contract Assets and Contract LiabilitiesThe following table provides information about client receivables, contract assets, and contract liabilities from contracts with customers: June 27, 2020 December 28, 2019 (in thousands) Balances from contracts with customers: Client receivables $ 403,351 $ 395,740 Contract assets (unbilled revenue) 133,393 121,957 Contract liabilities (current and long-term deferred revenue) 186,198 192,788 Contract liabilities (customer contract deposits) 41,165 33,080

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)6 Months Ended
Jun. 27, 2020
Segment Reporting [Abstract]
Schedule of Revenue and Other Financial Information by Business SegmentThe following table presents revenue and other financial information by reportable segment: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS Revenue $ 116,549 $ 136,054 $ 262,545 $ 273,226 Operating income 3,844 31,512 31,217 69,344 Depreciation and amortization 9,126 4,981 17,878 9,303 Capital expenditures 6,621 5,049 12,033 9,161 DSA Revenue $ 442,564 $ 405,517 $ 881,247 $ 759,714 Operating income 72,241 63,514 144,524 110,219 Depreciation and amortization 41,101 37,549 82,431 71,333 Capital expenditures 16,175 15,141 30,904 23,989 Manufacturing Revenue $ 123,471 $ 115,997 $ 245,851 $ 229,197 Operating income 42,930 33,141 84,042 64,640 Depreciation and amortization 6,236 5,782 12,602 11,587 Capital expenditures 3,037 4,272 8,198 7,878
Reconciliation of Segment Operating Income to Consolidated Operating IncomeReconciliations of segment operating income, depreciation and amortization, and capital expenditures to the respective consolidated amounts are as follows: Operating Income Depreciation and Amortization Capital Expenditures June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Three Months Ended: Total reportable segments $ 119,015 $ 128,167 $ 56,463 $ 48,312 $ 25,833 $ 24,462 Unallocated corporate (42,247) (48,399) 745 834 967 319 Total consolidated $ 76,768 $ 79,768 $ 57,208 $ 49,146 $ 26,800 $ 24,781 Six Months Ended: Total reportable segments $ 259,783 $ 244,203 $ 112,911 $ 92,223 $ 51,135 $ 41,028 Unallocated corporate (88,734) (94,643) 1,557 2,281 1,386 484 Total consolidated $ 171,049 $ 149,560 $ 114,468 $ 94,504 $ 52,521 $ 41,512
Revenue Disaggregated by Products and Services and Geographic AreaThe following tables disaggregate the Company’s revenue by major business line and timing of transfer of products or services: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Major Products/Service Lines: RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Timing of Revenue Recognition: RMS Services and products transferred over time $ 57,357 $ 57,321 $ 117,398 $ 112,134 Services and products transferred at a point in time 59,192 78,733 145,147 161,092 DSA Services and products transferred over time 442,447 405,351 881,011 759,429 Services and products transferred at a point in time 117 166 236 285 Manufacturing Services and products transferred over time 41,317 34,470 78,631 66,366 Services and products transferred at a point in time 82,154 81,527 167,220 162,831 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Revenue for each significant product or service offering is as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS $ 116,549 $ 136,054 $ 262,545 $ 273,226 DSA 442,564 405,517 881,247 759,714 Manufacturing 123,471 115,997 245,851 229,197 Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137 Revenue by geographic area is as follows: U.S. Europe Canada Asia Pacific Other Consolidated (in thousands) Three Months Ended: June 27, 2020 $ 382,918 $ 190,935 $ 71,543 $ 35,965 $ 1,223 $ 682,584 June 29, 2019 367,924 182,770 68,902 36,213 1,759 657,568 Six Months Ended: June 27, 2020 $ 789,630 $ 381,197 $ 148,176 $ 67,794 $ 2,846 $ 1,389,643 June 29, 2019 718,100 349,135 122,881 69,392 2,629 1,262,137
Summary of Unallocated Corporate OverheadA summary of unallocated corporate expense consists of the following: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Stock-based compensation $ 8,203 $ 10,718 $ 14,907 $ 18,992 Compensation, benefits, and other employee-related expenses 20,749 13,753 42,729 35,791 External consulting and other service expenses 4,917 4,094 7,386 7,904 Information technology 4,235 4,555 7,951 7,277 Depreciation 745 834 1,557 2,281 Acquisition and integration 869 12,470 7,852 17,942 Other general unallocated corporate 2,529 1,975 6,352 4,456 Total unallocated corporate expense $ 42,247 $ 48,399 $ 88,734 $ 94,643

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)6 Months Ended
Jun. 27, 2020
Supplemental Balance Sheet Information [Abstract]
Composition of Net Trade ReceivablesThe composition of trade receivables, net is as follows: June 27, 2020 December 28, 2019 (in thousands) Client receivables $ 403,351 $ 395,740 Unbilled revenue 133,393 121,957 Total 536,744 517,697 Less: Allowance for doubtful accounts (4,213) (3,664) Trade receivables, net $ 532,531 $ 514,033
Composition of InventoriesThe composition of inventories is as follows: June 27, 2020 December 28, 2019 (in thousands) Raw materials and supplies $ 25,426 $ 24,613 Work in process 36,616 35,852 Finished products 106,324 100,195 Inventories $ 168,366 $ 160,660
Composition of Other Current AssetsThe composition of other current assets is as follows: June 27, 2020 December 28, 2019 (in thousands) Prepaid income tax $ 63,361 $ 54,358 Short-term investments 929 941 Restricted cash 465 431 Other 307 300 Other current assets $ 65,062 $ 56,030
Composition of Other AssetsThe composition of other assets is as follows: June 27, 2020 December 28, 2019 (in thousands) Venture capital investments $ 124,730 $ 108,983 Strategic equity investments 17,087 13,996 Life insurance policies 36,001 38,207 Other long-term income tax assets 20,625 20,570 Restricted cash 1,557 1,601 Other 24,371 29,258 Other assets $ 224,371 $ 212,615
Composition of Other Current LiabilitiesThe composition of other current liabilities is as follows: June 27, 2020 December 28, 2019 (in thousands) Current portion of operating lease right-of-use liabilities $ 24,450 $ 20,357 Accrued income taxes 32,302 26,066 Customer contract deposits 41,165 33,080 Other 10,722 11,095 Other current liabilities $ 108,639 $ 90,598
Composition of Other Long-Term LiabilitiesThe composition of other long-term liabilities is as follows: June 27, 2020 December 28, 2019 (in thousands) U.S. Transition Tax $ 50,057 $ 52,066 Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan 76,572 80,833 Long-term deferred revenue 15,788 20,983 Other 33,625 29,051 Other long-term liabilities $ 176,042 $ 182,933

FAIR VALUE (Tables)

FAIR VALUE (Tables)6 Months Ended
Jun. 27, 2020
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring BasisAssets and liabilities measured at fair value on a recurring basis are summarized below: June 27, 2020 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents $ — $ 89,453 $ — $ 89,453 Other assets: Life insurance policies — 28,169 — 28,169 Total assets measured at fair value $ — $ 117,622 $ — $ 117,622 Other current liabilities measured at fair value: Contingent consideration $ — $ — $ 2,142 $ 2,142 Total liabilities measured at fair value $ — $ — $ 2,142 $ 2,142 December 28, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents $ — $ 55,278 $ — $ 55,278 Other assets: Life insurance policies — 30,454 — 30,454 Total assets measured at fair value $ — $ 85,732 $ — $ 85,732 Other current liabilities measured at fair value: Contingent consideration $ — $ — $ 712 $ 712 Foreign currency forward contract — 876 — 876 Total liabilities measured at fair value $ — $ 876 $ 712 $ 1,588 June 27, 2020 December 28, 2019 Book Value Fair Value Book Value Fair Value 2026 Senior Notes $ 500,000 $ 521,850 $ 500,000 $ 537,500 2028 Senior Notes 500,000 497,500 500,000 510,000
Rollforward of Contingent Consideration Related to Previous AcquisitionsThe following table provides a rollforward of the contingent consideration related to previous business acquisitions. See Note 2, “Business Combinations.” Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 712 $ 3,033 Additions 2,131 2,869 Payments (230) (5,252) Adjustment of previously recorded contingent liability (468) — Foreign currency (3) 69 Ending balance $ 2,142 $ 719

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)6 Months Ended
Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of GoodwillThe following table provides a rollforward of the Company’s goodwill: Adjustments to Goodwill December 28, 2019 Acquisitions Foreign Exchange June 27, 2020 (in thousands) RMS $ 56,586 $ 209,104 $ (156) $ 265,534 DSA 1,345,223 (629) (9,995) 1,334,599 Manufacturing 138,756 — (3,248) 135,508 Goodwill $ 1,540,565 $ 208,475 $ (13,399) $ 1,735,641
Schedule of Intangible AssetsThe following table displays intangible assets, net by major class: June 27, 2020 December 28, 2019 Gross Accumulated Amortization Net Gross Accumulated Amortization Net (in thousands) Backlog $ 28,660 $ (27,703) $ 957 $ 28,865 $ (26,895) $ 1,970 Technology 123,682 (67,548) 56,134 122,106 (57,737) 64,369 Trademarks and trade names 15,458 (5,138) 10,320 8,430 (4,901) 3,529 Other 20,056 (13,497) 6,559 18,279 (12,307) 5,972 Other intangible assets 187,856 (113,886) 73,970 177,680 (101,840) 75,840 Client relationships 1,088,035 (355,814) 732,221 934,668 (321,095) 613,573 Intangible assets $ 1,275,891 $ (469,700) $ 806,191 $ 1,112,348 $ (422,935) $ 689,413

LONG-TERM DEBT AND FINANCE LE_2

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS (Tables)6 Months Ended
Jun. 27, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt and Finance Lease ObligationsLong-term debt, net and finance leases consists of the following: June 27, 2020 December 28, 2019 (in thousands) Term loans $ 175,000 $ 193,750 Revolving facility 1,062,850 676,134 2026 Senior Notes 500,000 500,000 2028 Senior Notes 500,000 500,000 Other debt 11,293 5,781 Finance leases (Note 16) 27,883 30,527 Total debt and finance leases 2,277,026 1,906,192 Less: Current portion of long-term debt 50,505 35,548 Current portion of finance leases (Note 16) 3,208 2,997 Current portion of long-term debt and finance leases 53,713 38,545 Long-term debt and finance leases 2,223,313 1,867,647 Debt discount and debt issuance costs (16,156) (17,981) Long-term debt, net and finance leases $ 2,207,157 $ 1,849,666

EQUITY AND NONCONTROLLING INT_2

EQUITY AND NONCONTROLLING INTERESTS (Tables)6 Months Ended
Jun. 27, 2020
Equity [Abstract]
Reconciliation of the Numerator and Denominator in the Computations of the Basic and Diluted Earnings Per ShareThe following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Numerator: Net income $ 67,668 $ 44,309 $ 118,505 $ 99,997 Less: Net income attributable to noncontrolling interests 233 581 301 1,136 Net income attributable to common shareholders $ 67,435 $ 43,728 $ 118,204 $ 98,861 Denominator: Weighted-average shares outstanding - Basic 49,553 48,772 49,371 48,615 Effect of dilutive securities: Stock options, restricted stock units and performance share units 693 890 747 984 Weighted-average shares outstanding - Diluted 50,246 49,662 50,118 49,599
Schedule of Accumulated Other Comprehensive Income (Loss)Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows: Foreign Currency Translation Adjustment Pension and Other Post-Retirement Benefit Plans Total (in thousands) December 28, 2019 $ (87,578) $ (90,441) $ (178,019) Other comprehensive loss before reclassifications (37,611) — (37,611) Amounts reclassified from accumulated other comprehensive loss — 2,739 2,739 Net current period other comprehensive income (loss) (37,611) 2,739 (34,872) Income tax expense (benefit) (761) 584 (177) June 27, 2020 $ (124,428) $ (88,286) $ (212,714)
Rollforward Redeemable Noncontrolling InterestThe following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests: Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 28,647 $ 18,525 Acquisition of noncontrolling interest (3,732) — Adjustment to Vital River redemption value (three months ended March 30, 2019) — 1,451 Purchase of Vital River 5% equity interest — (8,745) Change in fair value of Vital River 8% equity interest, included in additional-paid-in-capital — 2,708 Modification of Vital River 8% purchase option — 2,196 Acquisition of a 10% non-controlling interest through acquiring Citoxlab — 4,095 Net (loss) income attributable to noncontrolling interests (538) 284 Foreign currency translation (493) (35) Ending balance $ 23,884 $ 20,479

PENSION AND OTHER POST-RETIRE_2

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Tables)6 Months Ended
Jun. 27, 2020
Retirement Benefits [Abstract]
Schedule of Net Periodic CostThe following table provides the components of net periodic cost for the Company’s pension, deferred compensation and executive supplemental life insurance retirement plans: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Service cost $ 798 $ 757 $ 1,595 $ 1,387 Interest cost 2,354 2,875 4,709 5,750 Expected return on plan assets (2,982) (3,235) (5,963) (6,470) Amortization of prior service cost (credit) (126) 91 (251) 182 Amortization of net loss 1,586 488 3,172 977 Other adjustments 125 — 250 — Net periodic cost $ 1,755 $ 976 $ 3,512 $ 1,826

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)6 Months Ended
Jun. 27, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation ExpenseThe following table provides stock-based compensation by the financial statement line item in which it is reflected: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Cost of revenue $ 2,320 $ 2,489 $ 4,355 $ 4,438 Selling, general and administrative 10,823 14,016 19,748 24,966 Stock-based compensation, before income taxes 13,143 16,505 24,103 29,404 Provision for income taxes (1,988) (2,855) (3,539) (4,902) Stock-based compensation, net of income taxes $ 11,155 $ 13,650 $ 20,564 $ 24,502

FOREIGN CURRENCY CONTRACTS (Tab

FOREIGN CURRENCY CONTRACTS (Tables)6 Months Ended
Jun. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments on Statements of IncomeThe following table summarizes the effect of the foreign exchange forward contracts entered into to limit the Company’s foreign currency exposure related to U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility on the Company’s unaudited condensed consolidated statements of income: June 27, 2020 June 29, 2019 Location of gain (loss) Financial statement caption amount Amount of gain (loss) Financial statement caption amount Amount of gain (loss) (in thousands) Three Months Ended: Interest expense $ (19,352) $ — $ (20,835) $ (1,606) Six Months Ended: Interest expense $ (34,419) $ 6,067 $ (30,822) $ 7,311 The following table summarizes the effect of the foreign exchange forward contracts in connection with certain intercompany loans on the Company’s unaudited condensed consolidated statements of income: June 27, 2020 June 29, 2019 Location of gain (loss) Financial statement caption amount Amount of gain (loss) Financial statement caption amount Amount of gain (loss) (in thousands) Three Months Ended: Other (expense) income, net $ 26,260 $ — $ (213) $ — Six Months Ended: Other income (expense), net $ 2,189 $ (892) $ 6,093 $ —
Schedule of Notional and Fair Value of Foreign Currency ContractsThe notional amount and fair value of the open contract is summarized as follows: December 28, 2019 Notional Amount Fair Value Balance Sheet Location (in thousand) $ 115,038 $ (876) Other current liabilities

RESTRUCTURING AND ASSET IMPAI_2

RESTRUCTURING AND ASSET IMPAIRMENTS (Tables)6 Months Ended
Jun. 27, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring CostsThe following table presents a summary of restructuring costs related to these initiatives within the unaudited condensed consolidated statements of income. Three Months Ended June 27, 2020 June 29, 2019 Severance and Transition Costs Asset Impairments and Other Costs Total Severance and Transition Costs Asset Impairments and Other Costs Total (in thousands) Cost of services provided and products sold (excluding amortization of intangible assets) $ 3,299 $ 30 $ 3,329 $ 371 $ 356 $ 727 Selling, general and administrative 2,089 2,933 5,022 940 18 958 Total $ 5,388 $ 2,963 $ 8,351 $ 1,311 $ 374 $ 1,685 Six Months Ended June 27, 2020 June 29, 2019 Severance and Transition Costs Asset Impairments and Other Costs Total Severance and Transition Costs Asset Impairments and Other Costs Total Cost of services provided and products sold (excluding amortization of intangible assets) $ 3,545 $ 259 $ 3,804 $ 638 $ 1,505 $ 2,143 Selling, general and administrative 2,172 2,933 5,105 1,073 18 1,091 Total $ 5,717 $ 3,192 $ 8,909 $ 1,711 $ 1,523 $ 3,234 The following table presents restructuring costs by reportable segment for these productivity improvement initiatives: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) RMS $ 769 $ 641 $ 759 $ 942 DSA 6,186 672 6,498 685 Manufacturing 1,396 372 1,652 1,607 Total $ 8,351 $ 1,685 $ 8,909 $ 3,234
Rollforward of Company's Severance and Transition Costs and Lease Obligation LiabilitiesThe following table provides a rollforward for all of the Company’s severance and transition costs, and lease obligation liabilities related to all restructuring activities: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Beginning balance $ 2,531 $ 2,113 $ 6,405 $ 2,921 Expense (excluding non-cash charges) 6,357 1,609 6,874 2,855 Payments / utilization (1,674) (970) (5,917) (3,004) Foreign currency adjustments (15) 6 (163) (14) Ending balance $ 7,199 $ 2,758 $ 7,199 $ 2,758

LEASES (Tables)

LEASES (Tables)6 Months Ended
Jun. 27, 2020
Leases [Abstract]
Schedule of Right-of-Use Lease Assets and Lease Liabilities in Condensed Financial StatementsRight-of-use lease assets and lease liabilities are reported in the Company’s unaudited condensed consolidated balance sheets as follows: June 27, 2020 December 28, 2019 (in thousands) Operating leases Operating lease right-of-use assets, net $ 169,192 $ 140,085 Other current liabilities $ 24,450 $ 20,357 Operating lease right-of-use liabilities 147,348 116,252 Total operating lease liabilities $ 171,798 $ 136,609 Finance leases Property, plant and equipment, net $ 30,225 $ 32,519 Current portion of long-term debt and finance leases $ 3,208 $ 2,997 Long-term debt, net and finance leases 24,675 27,530 Total finance lease liabilities $ 27,883 $ 30,527
Schedule of Operating and Finance Lease Costs and Supplemental Cash Flow InformationThe components of operating and finance lease costs were as follows: Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) Operating lease costs $ 7,893 $ 7,887 $ 15,971 $ 15,594 Finance lease costs: Amortization of right-of-use assets 937 931 1,888 1,852 Interest on lease liabilities 323 345 663 641 Short-term lease costs 525 204 1,114 396 Variable lease costs 1,067 930 2,112 1,265 Sublease income (190) (45) (776) (91) Total lease costs $ 10,555 $ 10,252 $ 20,972 $ 19,657 Supplemental cash flow information Six Months Ended June 27, 2020 June 29, 2019 (in thousands) Cash flows included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,149 $ 13,214 Operating cash flows from finance leases 663 715 Finance cash flows from finance leases 2,467 1,842 Non-cash leases activity: Right-of-use lease assets obtained in exchange for new operating lease liabilities $ 46,493 $ 5,028 Right-of-use lease assets obtained in exchange for new finance lease liabilities 735 4,508 Lease term and discount rate As of June 27, 2020 Weighted-average remaining lease term (in years) Operating lease 8.36 Finance lease 12.61 Weighted-average discount rate Operating lease 4.18 Finance lease 4.53
Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating LeasesAs of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows: Operating Leases Finance Leases (in thousands) 2020 (excluding the six months ended June 27, 2020) $ 15,601 $ 2,378 2021 29,819 3,789 2022 25,533 3,236 2023 22,487 2,933 2024 21,872 2,719 Thereafter 91,026 21,795 Total minimum future lease payments 206,338 36,850 Less: Imputed interest 34,540 8,967 Total lease liabilities $ 171,798 $ 27,883
Schedule of Future Minimum Lease Payments Under Non-Cancellable Finance LeasesAs of June 27, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows: Operating Leases Finance Leases (in thousands) 2020 (excluding the six months ended June 27, 2020) $ 15,601 $ 2,378 2021 29,819 3,789 2022 25,533 3,236 2023 22,487 2,933 2024 21,872 2,719 Thereafter 91,026 21,795 Total minimum future lease payments 206,338 36,850 Less: Imputed interest 34,540 8,967 Total lease liabilities $ 171,798 $ 27,883

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)6 Months Ended
Jun. 27, 2020numberOfSegments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments3

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ in ThousandsJan. 03, 2020Aug. 28, 2019Apr. 29, 2019Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019Dec. 28, 2019
HemaCare Corporation
Business Acquisition [Line Items]
Proposed purchase price $ 379,800
Purchase price allocation376,721
Cash acquired $ 3,100
Integration related costs and transaction costs $ 100 $ 5,800
Actual revenue from acquiree6,400 18,700
Operating income (loss) from acquiree(5,900)(8,100)
Citoxlab
Business Acquisition [Line Items]
Proposed purchase price $ 527,100
Purchase price allocation490,357
Cash acquired36,700
Integration related costs and transaction costs1,200 $ 12,100 2,500 $ 17,200
Goodwill, amount expected to be deductible for tax purposes $ 7,200
Other Acquisitions
Business Acquisition [Line Items]
Proposed purchase price $ 23,400
Purchase price allocation23,063
Cash acquired300
Integration related costs and transaction costs $ 0 $ 1,100 0 1,100
Prepayments for future purchases and other post-closing adjustments $ 4,000
Depreciation and Amortization Expense | HemaCare Corporation
Business Acquisition [Line Items]
Adjustments related to prior period $ 400 6,400
Depreciation and Amortization Expense | Citoxlab
Business Acquisition [Line Items]
Adjustments related to prior period4,000
Interest Expense | HemaCare Corporation
Business Acquisition [Line Items]
Adjustments related to prior period6,100
Interest Expense | Citoxlab
Business Acquisition [Line Items]
Adjustments related to prior period $ 1,200
Supplier
Business Acquisition [Line Items]
Equity interest80.00%
Noncontrolling interest ownership percentage20.00%
Supplier | Other Acquisitions
Business Acquisition [Line Items]
Equity interest80.00%
Noncontrolling interest ownership percentage20.00%

BUSINESS COMBINATIONS - Purchas

BUSINESS COMBINATIONS - Purchase Price Allocation (Details) - USD ($) $ in ThousandsJun. 27, 2020Jan. 03, 2020Dec. 28, 2019Aug. 28, 2019Apr. 29, 2019
Business Acquisition [Line Items]
Goodwill $ 1,735,641 $ 1,540,565
HemaCare Corporation
Business Acquisition [Line Items]
Trade receivables $ 6,451
Inventories8,468
Other current assets (excluding cash)3,527
Property, plant and equipment10,033
Goodwill209,104
Definite-lived intangible assets183,540
Other long-term assets5,920
Current liabilities(5,188)
Deferred tax liabilities(37,470)
Other long-term liabilities(7,664)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total $ 376,721
Citoxlab
Business Acquisition [Line Items]
Trade receivables $ 35,405
Inventories5,282
Other current assets (excluding cash)13,917
Property, plant and equipment88,605
Goodwill280,161
Definite-lived intangible assets162,400
Other long-term assets20,063
Deferred revenue(15,278)
Current liabilities(46,081)
Deferred tax liabilities(27,458)
Other long-term liabilities(22,624)
Redeemable noncontrolling interest(4,035)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total $ 490,357
Other Acquisitions
Business Acquisition [Line Items]
Trade receivables $ 189
Inventories7,644
Property, plant and equipment1,462
Goodwill12,591
Other long-term assets11,849
Current liabilities(441)
Deferred tax liabilities(1,253)
Other long-term liabilities(238)
Redeemable noncontrolling interest(8,740)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total $ 23,063

BUSINESS COMBINATIONS - Definit

BUSINESS COMBINATIONS - Definite-Lived Intangible Assets (Details) - USD ($) $ in ThousandsJan. 03, 2020Apr. 29, 2019
HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 183,540
Weighted-average amortization life18 years
Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 162,400
Weighted-average amortization life12 years
Customer Relationships | HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 170,390
Weighted-average amortization life19 years
Customer Relationships | Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 134,600
Weighted-average amortization life13 years
Trade Name | HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 7,330
Weighted-average amortization life10 years
Other Intangible Assets | HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 5,820
Weighted-average amortization life3 years
Developed Technology | Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 19,900
Weighted-average amortization life3 years
Backlog | Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired $ 7,900
Weighted-average amortization life1 year

BUSINESS COMBINATIONS - Pro For

BUSINESS COMBINATIONS - Pro Forma Information (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
HemaCare Corporation
Business Acquisition [Line Items]
Revenue $ 682,584 $ 668,095 $ 1,389,661 $ 1,281,551
Net income attributable to common shareholders $ 67,383 42,467 $ 123,088 94,654
Citoxlab
Business Acquisition [Line Items]
Revenue673,645 1,325,483
Net income attributable to common shareholders $ 53,625 $ 114,653

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenues by Major Business Line (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Disaggregation of Revenue [Line Items]
Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137
RMS
Disaggregation of Revenue [Line Items]
Total revenue116,549 136,054 262,545 273,226
RMS | Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue57,357 57,321 117,398 112,134
RMS | Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue59,192 78,733 145,147 161,092
DSA
Disaggregation of Revenue [Line Items]
Total revenue442,564 405,517 881,247 759,714
DSA | Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue442,447 405,351 881,011 759,429
DSA | Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue117 166 236 285
Manufacturing
Disaggregation of Revenue [Line Items]
Total revenue123,471 115,997 245,851 229,197
Manufacturing | Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue41,317 34,470 78,631 66,366
Manufacturing | Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue $ 82,154 $ 81,527 $ 167,220 $ 162,831

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Estimated Revenue Related to Performance Obligations (Details) $ in ThousandsJun. 27, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 400,622
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 266,745
Performance obligations expected to be satisfied, expected timing9 months 18 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 127,977
Performance obligations expected to be satisfied, expected timing2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 5,227
Performance obligations expected to be satisfied, expected timing1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 673
Performance obligations expected to be satisfied, expected timing1 year
DSA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 382,359
DSA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied255,160
DSA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied121,350
DSA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied5,195
DSA | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied654
Manufacturing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied18,263
Manufacturing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied11,585
Manufacturing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied6,627
Manufacturing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied32
Manufacturing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied $ 19

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 27, 2020Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Payment terms30 days
Unpaid advanced client billings $ 13,000 $ 27,000
Contract liabilities (customer contract deposits) $ 41,165 $ 33,080
Percentage of unbilled revenue billed during period75.00%
Percentage of contract liabilities recognized as revenue during period75.00%

REVENUE FROM CONTRACTS WITH C_6

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Client Receivables, Contract Assets and Contract Liabilities (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Client receivables $ 403,351 $ 395,740
Contract assets (unbilled revenue)133,393 121,957
Contract liabilities (current and long-term deferred revenue)186,198 192,788
Contract liabilities (customer contract deposits) $ 41,165 $ 33,080

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)6 Months Ended
Jun. 27, 2020numberOfSegments
Segment Reporting [Abstract]
Number of reportable segments3

SEGMENT INFORMATION - Revenue a

SEGMENT INFORMATION - Revenue and Other Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Segment Reporting Information [Line Items]
Revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137
Operating income76,768 79,768 171,049 149,560
Depreciation and amortization57,208 49,146 114,468 94,504
Capital expenditures26,800 24,781 52,521 41,512
RMS
Segment Reporting Information [Line Items]
Revenue116,549 136,054 262,545 273,226
Operating income3,844 31,512 31,217 69,344
Depreciation and amortization9,126 4,981 17,878 9,303
Capital expenditures6,621 5,049 12,033 9,161
DSA
Segment Reporting Information [Line Items]
Revenue442,564 405,517 881,247 759,714
Operating income72,241 63,514 144,524 110,219
Depreciation and amortization41,101 37,549 82,431 71,333
Capital expenditures16,175 15,141 30,904 23,989
Manufacturing
Segment Reporting Information [Line Items]
Revenue123,471 115,997 245,851 229,197
Operating income42,930 33,141 84,042 64,640
Depreciation and amortization6,236 5,782 12,602 11,587
Capital expenditures $ 3,037 $ 4,272 $ 8,198 $ 7,878

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Segment Operating Income, Depreciation and Amortization, and Capital Expenditures (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Segment Reporting Information [Line Items]
Operating income $ 76,768 $ 79,768 $ 171,049 $ 149,560
Depreciation and amortization57,208 49,146 114,468 94,504
Capital expenditures26,800 24,781 52,521 41,512
Total reportable segments
Segment Reporting Information [Line Items]
Operating income119,015 128,167 259,783 244,203
Depreciation and amortization56,463 48,312 112,911 92,223
Capital expenditures25,833 24,462 51,135 41,028
Unallocated corporate
Segment Reporting Information [Line Items]
Operating income(42,247)(48,399)(88,734)(94,643)
Depreciation and amortization745 834 1,557 2,281
Capital expenditures $ 967 $ 319 $ 1,386 $ 484

SEGMENT INFORMATION - Revenue P

SEGMENT INFORMATION - Revenue Per Significant Product or Service (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Segment Reporting Information [Line Items]
Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137
RMS
Segment Reporting Information [Line Items]
Total revenue116,549 136,054 262,545 273,226
DSA
Segment Reporting Information [Line Items]
Total revenue442,564 405,517 881,247 759,714
Manufacturing
Segment Reporting Information [Line Items]
Total revenue $ 123,471 $ 115,997 $ 245,851 $ 229,197

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Unallocated Corporate Overhead (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Segment Reporting Information [Line Items]
Stock-based compensation $ 13,143 $ 16,505 $ 24,103 $ 29,404
Unallocated corporate
Segment Reporting Information [Line Items]
Stock-based compensation8,203 10,718 14,907 18,992
Compensation, benefits, and other employee-related expenses20,749 13,753 42,729 35,791
External consulting and other service expenses4,917 4,094 7,386 7,904
Information technology4,235 4,555 7,951 7,277
Depreciation745 834 1,557 2,281
Acquisition and integration869 12,470 7,852 17,942
Other general unallocated corporate2,529 1,975 6,352 4,456
Total unallocated corporate expense $ 42,247 $ 48,399 $ 88,734 $ 94,643

SEGMENT INFORMATION - Disaggreg

SEGMENT INFORMATION - Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue $ 682,584 $ 657,568 $ 1,389,643 $ 1,262,137
U.S.
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue382,918 367,924 789,630 718,100
Europe
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue190,935 182,770 381,197 349,135
Canada
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue71,543 68,902 148,176 122,881
Asia Pacific
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue35,965 36,213 67,794 69,392
Other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue $ 1,223 $ 1,759 $ 2,846 $ 2,629

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019Jun. 29, 2019
Composition of trade receivables
Client receivables $ 403,351 $ 395,740
Unbilled revenue133,393 121,957
Total536,744 517,697
Less: Allowance for doubtful accounts(4,213)(3,664)
Trade receivables, net532,531 514,033
Composition of inventories
Raw materials and supplies25,426 24,613
Work in process36,616 35,852
Finished products106,324 100,195
Inventories168,366 160,660
Composition of other current assets
Prepaid income tax63,361 54,358
Short-term investments929 941
Restricted cash465 431 $ 498
Other307 300
Other current assets65,062 56,030
Composition of other assets
Venture capital investments124,730 108,983
Strategic equity investments17,087 13,996
Life insurance policies36,001 38,207
Other long-term income tax assets20,625 20,570
Restricted cash1,557 1,601 $ 1,499
Other24,371 29,258
Other assets224,371 212,615
Composition of other current liabilities
Current portion of operating lease right-of-use liabilities24,450 20,357
Accrued income taxes32,302 26,066
Customer contract deposits41,165 33,080
Other10,722 11,095
Other current liabilities108,639 90,598
Composition of other long-term liabilities
U.S. Transition Tax50,057 52,066
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan76,572 80,833
Long-term deferred revenue15,788 20,983
Other33,625 29,051
Other long-term liabilities $ 176,042 $ 182,933

VENTURE CAPITAL AND STRATEGIC_2

VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019Dec. 28, 2019
Equity Method Investments and Joint Ventures [Abstract]
Venture capital investments $ 124,730 $ 124,730 $ 108,983
Committed contribution130,400 130,400
Amount funded for venture capital investments87,500 87,500
Dividends received2,400 $ 900 3,300 $ 1,600
Foreign currency gains (losses) recognized23,900 $ (4,300)11,900 $ 6,300
Strategic equity investments $ 17,087 $ 17,087 $ 13,996

FAIR VALUE - Fair Value of Asse

FAIR VALUE - Fair Value of Assets and Liabilities (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents $ 89,453 $ 55,278
Other assets:
Life insurance policies28,169 30,454
Total assets measured at fair value117,622 85,732
Other current liabilities measured at fair value:
Contingent consideration2,142 712
Foreign currency forward contract876
Total liabilities measured at fair value2,142 1,588
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents0 0
Other assets:
Life insurance policies0 0
Total assets measured at fair value0 0
Other current liabilities measured at fair value:
Contingent consideration0 0
Foreign currency forward contract0
Total liabilities measured at fair value0 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents89,453 55,278
Other assets:
Life insurance policies28,169 30,454
Total assets measured at fair value117,622 85,732
Other current liabilities measured at fair value:
Contingent consideration0 0
Foreign currency forward contract876
Total liabilities measured at fair value0 876
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents0 0
Other assets:
Life insurance policies0 0
Total assets measured at fair value0 0
Other current liabilities measured at fair value:
Contingent consideration2,142 712
Foreign currency forward contract0
Total liabilities measured at fair value $ 2,142 $ 712

FAIR VALUE - Contingent Conside

FAIR VALUE - Contingent Consideration (Details) - Contingent Consideration - Level 3 - USD ($) $ in Thousands6 Months Ended
Jun. 27, 2020Jun. 29, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance $ 712 $ 3,033
Additions2,131 2,869
Payments(230)(5,252)
Adjustment of previously recorded contingent liability(468)0
Foreign currency(3)69
Ending balance $ 2,142 $ 719

FAIR VALUE - Schedule of Fair V

FAIR VALUE - Schedule of Fair Value of Debt (Details) - Senior Notes - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019Dec. 29, 2018
2026 Senior Notes
Debt Instrument [Line Items]
Stated interest rate5.50%5.50%
2026 Senior Notes | Book Value
Debt Instrument [Line Items]
Debt instrument value $ 500,000 $ 500,000
2026 Senior Notes | Estimated Fair Value
Debt Instrument [Line Items]
Debt instrument value $ 521,850 $ 537,500
2028 Senior Notes
Debt Instrument [Line Items]
Stated interest rate4.25%4.25%
2028 Senior Notes | Book Value
Debt Instrument [Line Items]
Debt instrument value $ 500,000 $ 500,000
2028 Senior Notes | Estimated Fair Value
Debt Instrument [Line Items]
Debt instrument value $ 497,500 $ 510,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Rollforward of Goodwill (Details) $ in Thousands6 Months Ended
Jun. 27, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance $ 1,540,565
Acquisitions208,475
Foreign exchange(13,399)
Ending balance1,735,641
RMS
Goodwill [Roll Forward]
Beginning balance56,586
Acquisitions209,104
Foreign exchange(156)
Ending balance265,534
DSA
Goodwill [Roll Forward]
Beginning balance1,345,223
Acquisitions(629)
Foreign exchange(9,995)
Ending balance1,334,599
Manufacturing
Goodwill [Roll Forward]
Beginning balance138,756
Acquisitions0
Foreign exchange(3,248)
Ending balance $ 135,508

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Other Intangible Assets (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Other intangible assets
Gross $ 1,275,891 $ 1,112,348
Accumulated Amortization(469,700)(422,935)
Net806,191 689,413
Backlog
Other intangible assets
Gross28,660 28,865
Accumulated Amortization(27,703)(26,895)
Net957 1,970
Technology
Other intangible assets
Gross123,682 122,106
Accumulated Amortization(67,548)(57,737)
Net56,134 64,369
Trademarks and trade names
Other intangible assets
Gross15,458 8,430
Accumulated Amortization(5,138)(4,901)
Net10,320 3,529
Other
Other intangible assets
Gross20,056 18,279
Accumulated Amortization(13,497)(12,307)
Net6,559 5,972
Other intangible assets
Other intangible assets
Gross187,856 177,680
Accumulated Amortization(113,886)(101,840)
Net73,970 75,840
Customer Relationships
Other intangible assets
Gross1,088,035 934,668
Accumulated Amortization(355,814)(321,095)
Net $ 732,221 $ 613,573

LONG-TERM DEBT AND FINANCE LE_3

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Schedule of Long-Term Debt (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Debt Instrument [Line Items]
Finance leases $ 27,883 $ 30,527
Total debt and finance leases2,277,026 1,906,192
Current portion of long-term debt50,505 35,548
Current portion of finance leases3,208 2,997
Current portion of long-term debt and finance leases53,713 38,545
Long-term debt and finance leases2,223,313 1,867,647
Debt discount and debt issuance costs(16,156)(17,981)
Long-term debt, net and finance leases2,207,157 1,849,666
Term Loans
Debt Instrument [Line Items]
Long-term debt, gross175,000 193,750
Revolving Facility
Debt Instrument [Line Items]
Long-term debt, gross1,062,850 676,134
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross500,000 500,000
Senior Notes | 2028 Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross500,000 500,000
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross $ 11,293 $ 5,781

LONG-TERM DEBT AND FINANCE LE_4

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Narrative (Details)Oct. 23, 2019USD ($)Mar. 26, 2018Jun. 27, 2020USD ($)paymentJun. 29, 2019USD ($)Jun. 27, 2020USD ($)paymentJun. 29, 2019USD ($)Dec. 28, 2019USD ($)Nov. 04, 2019Dec. 29, 2018USD ($)
Debt Instrument [Line Items]
Weighted average interest rate3.04%3.04%3.46%
Number of consecutive fiscal quarters1 year
$750 Million Term Loan | Credit Facility
Debt Instrument [Line Items]
Credit facility $ 750,000,000 $ 750,000,000
Number of quarterly installment payments | payment19 19
Prepayments of long-term debt $ 500,000,000
$2.05 Billion Credit Facility | Credit Facility
Debt Instrument [Line Items]
Minimum EBITDA less capital expenditures to consolidated cash interest expense ratio3.50
$2.05 Billion Credit Facility | Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Variable interest rate0.50%
$2.05 Billion Credit Facility | Credit Facility | LIBOR
Debt Instrument [Line Items]
Variable interest rate1.00%
$2.05 Billion Credit Facility | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility $ 2,050,000,000 $ 2,050,000,000
$2.8 Billion Credit Facility | Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity, term loan and line of credit facility, potential increase available $ 1,000,000,000 $ 1,000,000,000
2026 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount $ 500,000,000
Stated interest rate5.50%5.50%5.50%
2028 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Proceeds from private offering of debt $ 500,000,000
Maximum consolidated indebtedness to consolidated EBITDA4
Aggregate principal amount $ 500,000,000
Stated interest rate4.25%4.25%4.25%
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding $ 8,100,000 $ 8,100,000 $ 7,500,000
Minimum | Foreign Exchange Forward
Debt Instrument [Line Items]
Derivative amount300,000,000 300,000,000
Maximum | Foreign Exchange Forward
Debt Instrument [Line Items]
Derivative amount400,000,000 400,000,000
Other Nonoperating Income (Expense) | Foreign Exchange Forward
Debt Instrument [Line Items]
Foreign currency losses recognized4,200,000 $ 2,800,000
Recognized gains from derivatives0 $ 0 (892,000)0
Interest Expense | Foreign Exchange Forward
Debt Instrument [Line Items]
Recognized gains from derivatives $ 0 $ (1,606,000) $ 6,067,000 $ 7,311,000

EQUITY AND NONCONTROLLING INT_3

EQUITY AND NONCONTROLLING INTERESTS - Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Numerator:
Net income $ 67,668 $ 44,309 $ 118,505 $ 99,997
Less: Net income attributable to noncontrolling interests233 581 301 1,136
Net income attributable to common shareholders $ 67,435 $ 43,728 $ 118,204 $ 98,861
Denominator:
Weighted-average shares outstanding—Basic (in shares)49,553 48,772 49,371 48,615
Effect of dilutive securities:
Stock options, restricted stock units and performance share units (in shares)693 890 747 984
Weighted-average shares outstanding—Diluted (in shares)50,246 49,662 50,118 49,599

EQUITY AND NONCONTROLLING INT_4

EQUITY AND NONCONTROLLING INTERESTS - Narrative (Details) - USD ($) shares in Millions, $ in Millions3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019Feb. 29, 2020Dec. 28, 2019Jun. 13, 2019Apr. 29, 2019
Vital River
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity interest92.00%92.00%
Noncontrolling interest ownership percentage8.00%8.00%8.00%
Citoxlab
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity interest90.00%
Noncontrolling interest ownership percentage10.00%10.00%
Supplier
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity interest80.00%
Noncontrolling interest ownership percentage20.00%
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)0.6 0.4 0.6 0.4
Restricted Stock and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)0.9 1
Vital River
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Contractually defined redemption value $ 14.8 $ 14.8
Citoxlab
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Contingent consideration liability $ 2
Contractually defined redemption value $ 4

EQUITY AND NONCONTROLLING INT_5

EQUITY AND NONCONTROLLING INTERESTS - Treasury Shares (Details) - USD ($) $ in Millions6 Months Ended
Jun. 27, 2020Jun. 29, 2019
Equity, Class of Treasury Stock [Line Items]
Shares acquired to satisfy minimum individual statutory tax withholdings for vesting of equity instruments (in shares)100,000 100,000
Shares acquired to satisfy minimum individual statutory tax withholdings for vesting of equity instruments $ 23.8 $ 17.9
Authorized Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased during period (in shares)0 0
Remaining authorized repurchase amount $ 129.1

EQUITY AND NONCONTROLLING INT_6

EQUITY AND NONCONTROLLING INTERESTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance $ 1,655,627 $ 1,401,029 $ 1,637,828 $ 1,319,778
Other comprehensive loss before reclassifications(37,611)
Amounts reclassified from accumulated other comprehensive loss2,739
Net current period other comprehensive income (loss)(34,872)
Income tax expense (benefit)1,862 1,232 (177)1,130
Ending balance1,756,725 1,458,364 1,756,725 1,458,364
Foreign Currency Translation Adjustment and Other
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance(87,578)
Other comprehensive loss before reclassifications(37,611)
Amounts reclassified from accumulated other comprehensive loss0
Net current period other comprehensive income (loss)(37,611)
Income tax expense (benefit)(761)
Ending balance(124,428)(124,428)
Pension and Other Post-Retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance(90,441)
Other comprehensive loss before reclassifications0
Amounts reclassified from accumulated other comprehensive loss2,739
Net current period other comprehensive income (loss)2,739
Income tax expense (benefit)584
Ending balance(88,286)(88,286)
Total
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance(218,917)(162,800)(178,019)(172,703)
Ending balance $ (212,714) $ (166,236) $ (212,714) $ (166,236)

EQUITY AND NONCONTROLLING INT_7

EQUITY AND NONCONTROLLING INTERESTS - Rollforward of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Mar. 28, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019Dec. 28, 2019Jun. 13, 2019Apr. 29, 2019
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Beginning balance $ 28,647 $ 28,647 $ 18,525
Acquisition of noncontrolling interest(3,732)0
Purchase of Vital River 5% equity interest $ 2,379 $ 1,870 0 (8,745)
Change in fair value of Vital River 8% equity interest, included in additional-paid-in-capital0 2,708
Modification of Vital River 8% purchase option0 2,196
Net (loss) income attributable to noncontrolling interests(538)284
Foreign currency translation(493)(35)
Ending balance $ 20,479 23,884 20,479
Citoxlab
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Acquisition of noncontrolling interest0 4,095
Noncontrolling interest ownership percentage10.00%10.00%
Vital River
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Adjustment to Vital River redemption value (three months ended March 30, 2019) $ 0 $ 1,451
Additional equity interest percentage acquired5.00%
Noncontrolling interest ownership percentage8.00%8.00%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Income Tax Disclosure [Abstract]
Effective tax rate19.40%24.90%15.00%20.20%
Decrease in unrecognized tax benefits $ 1.2
Unrecognized tax benefits17.9 $ 17.9
Decrease in unrecognized tax benefits that would impact effective tax rate1.2
Unrecognized tax benefits that would impact effective tax rate15.1 15.1
Accrued interest and penalties on unrecognized tax benefits2 2
Decrease in unrecognized tax benefits that are reasonably possibly over the next twelve-month period (up to) $ 1.4 $ 1.4

PENSION AND OTHER POST-RETIRE_3

PENSION AND OTHER POST-RETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Employee benefits
Service cost $ 798 $ 757 $ 1,595 $ 1,387
Interest cost2,354 2,875 4,709 5,750
Expected return on plan assets(2,982)(3,235)(5,963)(6,470)
Amortization of prior service cost (credit)(126)91 (251)182
Amortization of net loss1,586 488 3,172 977
Other adjustments125 0 250 0
Net periodic cost1,755 976 3,512 1,826
Other Postretirement Benefits Plan
Employee benefits
Net periodic cost $ 0 $ 0 $ 0 $ 0

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Stock-based compensation expense
Stock-based compensation, before income taxes $ 13,143 $ 16,505 $ 24,103 $ 29,404
Provision for income taxes(1,988)(2,855)(3,539)(4,902)
Stock-based compensation, net of income taxes11,155 13,650 20,564 24,502
Cost of revenue
Stock-based compensation expense
Stock-based compensation, before income taxes2,320 2,489 4,355 4,438
Selling, general and administrative
Stock-based compensation expense
Stock-based compensation, before income taxes $ 10,823 $ 14,016 $ 19,748 $ 24,966

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Stock-Based Compensation Grants (Details)6 Months Ended
Jun. 27, 2020$ / sharesshares
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)300,000
Stock options weighted average grant date fair value (in dollars per share) | $ / shares $ 53.20
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)200,000
Weighted-average grant date fair value (in dollars per share) | $ / shares $ 178.73
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)100,000
Weighted-average grant date fair value (in dollars per share) | $ / shares $ 210.55
Maximum shares to be awarded under plan (in shares)200,000

FOREIGN CURRENCY CONTRACTS - Sc

FOREIGN CURRENCY CONTRACTS - Schedule of Derivative Instruments on Statements of Income (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense $ (19,352) $ (20,835) $ (34,419) $ (30,822)
Other income (expense), net26,260 (213)2,189 6,093
Foreign Exchange Forward | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Recognized gains from derivatives0 (1,606)6,067 7,311
Foreign Exchange Forward | Other Income (Expense), Net
Derivative Instruments, Gain (Loss) [Line Items]
Recognized gains from derivatives $ 0 $ 0 $ (892) $ 0

FOREIGN CURRENCY CONTRACTS - Na

FOREIGN CURRENCY CONTRACTS - Narrative (Details) - Foreign Exchange Forward - derivative_instrument6 Months Ended
Jun. 27, 2020Dec. 28, 2019
Derivative [Line Items]
Number of derivative instruments held0 1
Derivative contract, period outstanding1 month

FOREIGN CURRENCY CONTRACTS - _2

FOREIGN CURRENCY CONTRACTS - Schedule of Notional and Fair Value of Foreign Currency Contracts (Details) - Foreign Exchange Forward - Not Designated as Hedging Instrument - Other current liabilities $ in ThousandsDec. 28, 2019USD ($)
Derivatives, Fair Value [Line Items]
Notional amount $ 115,038
Fair value, derivative liability $ (876)

RESTRUCTURING AND ASSET IMPAI_3

RESTRUCTURING AND ASSET IMPAIRMENTS - Restructuring Costs by Classification on the Statements of Income (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs $ 8,351 $ 1,685 $ 8,909 $ 3,234
Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs3,329 727 3,804 2,143
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs5,022 958 5,105 1,091
Severance and Transition Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs5,388 1,311 5,717 1,711
Severance and Transition Costs | Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs3,299 371 3,545 638
Severance and Transition Costs | Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs2,089 940 2,172 1,073
Asset Impairments and Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs2,963 374 3,192 1,523
Asset Impairments and Other Costs | Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs30 356 259 1,505
Asset Impairments and Other Costs | Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs $ 2,933 $ 18 $ 2,933 $ 18

RESTRUCTURING AND ASSET IMPAI_4

RESTRUCTURING AND ASSET IMPAIRMENTS - Restructuring Costs by Reportable Segment (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Segment Reporting Information [Line Items]
Restructuring costs $ 8,351 $ 1,685 $ 8,909 $ 3,234
RMS
Segment Reporting Information [Line Items]
Restructuring costs769 641 759 942
DSA
Segment Reporting Information [Line Items]
Restructuring costs6,186 672 6,498 685
Manufacturing
Segment Reporting Information [Line Items]
Restructuring costs $ 1,396 $ 372 $ 1,652 $ 1,607

RESTRUCTURING AND ASSET IMPAI_5

RESTRUCTURING AND ASSET IMPAIRMENTS - Narrative (Details) - USD ($) $ in ThousandsJun. 27, 2020Mar. 28, 2020Dec. 28, 2019Jun. 29, 2019Mar. 30, 2019Dec. 29, 2018
Restructuring Cost and Reserve [Line Items]
Severance and other personnel related costs liability and lease obligation liabilities $ 7,199 $ 2,531 $ 6,405 $ 2,758 $ 2,113 $ 2,921
Accrued Compensation
Restructuring Cost and Reserve [Line Items]
Severance and other personnel related costs liability and lease obligation liabilities7,000 2,700
Severance and Transition Costs | Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Severance and other personnel related costs liability and lease obligation liabilities $ 200 $ 100

RESTRUCTURING AND ASSET IMPAI_6

RESTRUCTURING AND ASSET IMPAIRMENTS - Rollforward of Severance and Transition Costs Liability (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Restructuring Reserve [Roll Forward]
Beginning balance $ 2,531 $ 2,113 $ 6,405 $ 2,921
Expense (excluding non-cash charges)6,357 1,609 6,874 2,855
Payments / utilization(1,674)(970)(5,917)(3,004)
Foreign currency adjustments(15)6 (163)(14)
Ending balance $ 7,199 $ 2,758 $ 7,199 $ 2,758

LEASES - Right-of-Use Lease Ass

LEASES - Right-of-Use Lease Assets and Lease Liabilities in Condensed Consolidated Financial Statements (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Leases [Abstract]
Operating lease right-of-use assets, net $ 169,192 $ 140,085
Other current liabilities24,450 20,357
Operating lease right-of-use liabilities147,348 116,252
Total operating lease liabilities171,798 136,609
Property, plant and equipment, net30,225 32,519
Current portion of long-term debt and finance leases3,208 2,997
Long-term debt, net and finance leases24,675 27,530
Total finance lease liabilities $ 27,883 $ 30,527
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]us-gaap:OtherLiabilitiesCurrentus-gaap:OtherLiabilitiesCurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationus-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrentus-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]us-gaap:LongTermDebtAndCapitalLeaseObligationsus-gaap:LongTermDebtAndCapitalLeaseObligations

LEASES - Components of Operatin

LEASES - Components of Operating and Finance Lease Costs (Details) - USD ($) $ in Thousands3 Months Ended6 Months Ended
Jun. 27, 2020Jun. 29, 2019Jun. 27, 2020Jun. 29, 2019
Leases [Abstract]
Operating lease costs $ 7,893 $ 7,887 $ 15,971 $ 15,594
Amortization of right-of-use assets937 931 1,888 1,852
Interest on lease liabilities323 345 663 641
Short-term lease costs525 204 1,114 396
Variable lease costs1,067 930 2,112 1,265
Sublease income(190)(45)(776)(91)
Total lease costs $ 10,555 $ 10,252 $ 20,972 $ 19,657

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands6 Months Ended
Jun. 27, 2020Jun. 29, 2019
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 14,149 $ 13,214
Operating cash flows from finance leases663 715
Finance cash flows from finance leases2,467 1,842
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities46,493 5,028
Right-of-use lease assets obtained in exchange for new finance lease liabilities $ 735 $ 4,508

LEASES - Weighted Average Remai

LEASES - Weighted Average Remaining Lease Term and Discount Rates (Details)Jun. 27, 2020
Weighted-average remaining lease term (in years)
Operating lease8 years 4 months 9 days
Finance lease12 years 7 months 9 days
Weighted-average discount rate
Operating lease4.18%
Finance lease4.53%

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in ThousandsJun. 27, 2020Dec. 28, 2019
Operating Leases, After Adoption of 842
2020 (excluding the six months ended June 27, 2020) $ 15,601
202129,819
202225,533
202322,487
202421,872
Thereafter91,026
Total minimum future lease payments206,338
Less: Imputed interest34,540
Total lease liabilities171,798 $ 136,609
Finance Leases, After Adoption of 842
2020 (excluding the six months ended June 27, 2020)2,378
20213,789
20223,236
20232,933
20242,719
Thereafter21,795
Total minimum future lease payments36,850
Less: Imputed interest8,967
Total lease liabilities $ 27,883 $ 30,527

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in MillionsJun. 27, 2020USD ($)
Lessor, Lease, Description [Line Items]
Future minimum lease payments for leases that have not yet commenced $ 44
Minimum
Lessor, Lease, Description [Line Items]
Terms for leases that have not yet commenced10 years
Maximum
Lessor, Lease, Description [Line Items]
Terms for leases that have not yet commenced15 years

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Millions1 Months Ended
Aug. 31, 2020USD ($)
Forecast | ELVIS
Subsequent Event [Line Items]
Proposed purchase price $ 38