Cover Page
Cover Page - USD ($) | 12 Months Ended | |||
Jan. 02, 2022 | Feb. 25, 2022 | Jul. 02, 2021 | Jan. 03, 2021 | |
Entity Listings [Line Items] | ||||
Document Annual Report | true | |||
Entity Well-known Seasoned Issuer | Yes | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Public Float | $ 17,332,583,779 | |||
ICFR Auditor Attestation Flag | true | |||
Sale of Stock, Price Per Share | $ 155.57 | |||
Common stock, par value | $ 1 | $ 1 | ||
Document Type | 10-K | |||
Document Period End Date | Jan. 2, 2022 | |||
Document Transition Report | false | |||
Entity File Number | 001-5075 | |||
Entity Registrant Name | PERKINELMER, INC. | |||
Entity Incorporation, State or Country Code | MA | |||
Entity Tax Identification Number | 04-2052042 | |||
Entity Address, Address Line One | 940 Winter Street, | |||
Entity Address, City or Town | Waltham, | |||
Entity Address, State or Province | MA | |||
Entity Address, Postal Zip Code | 02451 | |||
City Area Code | 781 | |||
Local Phone Number | 663-6900 | |||
Entity Current Reporting Status | Yes | |||
Entity Interactive Data Current | Yes | |||
Entity Filer Category | Large Accelerated Filer | |||
Entity Small Business | false | |||
Entity Emerging Growth Company | false | |||
Entity Shell Company | false | |||
Entity Common Stock, Shares Outstanding | 126,183,492 | |||
Entity Central Index Key | 0000031791 | |||
Document Fiscal Year Focus | 2021 | |||
Document Fiscal Period Focus | FY | |||
Amendment Flag | false | |||
Current Fiscal Year End Date | --01-02 | |||
PKI [Member] | ||||
Entity Listings [Line Items] | ||||
Trading Symbol | PKI | |||
Trading Symbol | PKI | |||
PKI 21A [Member] | ||||
Entity Listings [Line Items] | ||||
Trading Symbol | PKI 21A | |||
Trading Symbol | PKI 21A | |||
Common stock, $1 par value per share [Member] | ||||
Entity Listings [Line Items] | ||||
Title of 12(b) Security | Common Stock, $1 Par Value | |||
Title of 12(b) Security | Common Stock, $1 Par Value | |||
1.875% Notes due 2026 [Member] | ||||
Entity Listings [Line Items] | ||||
Title of 12(b) Security | 1.875% Notes due 2026 | |||
Title of 12(b) Security | 1.875% Notes due 2026 | |||
NEW YORK STOCK EXCHANGE, INC. [Member] | ||||
Entity Listings [Line Items] | ||||
Security Exchange Name | NYSE | |||
Security Exchange Name | NYSE |
Audit Information
Audit Information | 12 Months Ended |
Jan. 02, 2022 | |
Audit Information [Abstract] | |
Auditor Name | DELOITTE & TOUCHE LLP |
Auditor Location | Boston, Massachusetts |
Auditor Firm ID | 34 |
Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jan. 02, 2022 | Feb. 25, 2022 | Jul. 02, 2021 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 2, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 001-5075 | ||
Entity Registrant Name | PERKINELMER, INC. | ||
Entity Central Index Key | 0000031791 | ||
Current Fiscal Year End Date | --01-02 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Incorporation, State or Country Code | MA | ||
Entity Tax Identification Number | 04-2052042 | ||
Entity Address, Address Line One | 940 Winter Street, | ||
Entity Address, City or Town | Waltham, | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 02451 | ||
City Area Code | 781 | ||
Local Phone Number | 663-6900 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 17,332,583,779 | ||
Entity Common Stock, Shares Outstanding | 126,183,492 | ||
Documents Incorporated by Reference | Portions of PerkinElmer, Inc.’s Definitive Proxy Statement for its Annual Meeting of Shareholders to be h eld on April 26, 2022 are incorporated by reference into Part III of this Form 10-K. | ||
Common stock, $1 par value per share [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Common Stock, $1 Par Value | ||
1.875% Notes due 2026 [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | 1.875% Notes due 2026 | ||
NEW YORK STOCK EXCHANGE, INC. [Member] | |||
Entity Information [Line Items] | |||
Security Exchange Name | NYSE | ||
PKI [Member] | |||
Entity Information [Line Items] | |||
Trading Symbol | PKI | ||
PKI 21A [Member] | |||
Entity Information [Line Items] | |||
Trading Symbol | PKI 21A |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,067,169 | $ 3,782,745 | $ 2,883,673 |
Selling, general and administrative expenses | 1,227,521 | 917,894 | 815,318 |
Research and development expenses | 274,969 | 205,389 | 189,336 |
Restructuring and other costs, net | 16,432 | 8,013 | 29,428 |
Operating income from continuing operations | 1,332,378 | 978,581 | 361,973 |
Interest and other expense, net | 52,492 | 72,217 | 124,831 |
Income from continuing operations before income taxes | 1,279,886 | 906,364 | 237,142 |
Provision for income taxes | 336,603 | 178,266 | 9,389 |
Income from continuing operations | 943,283 | 728,098 | 227,753 |
(Loss) gain on disposition of discontinued operations before income taxes | 0 | (76) | 0 |
(Benefit from) provision for income taxes on discontinued operations and dispositions | (126) | 135 | 195 |
Income from discontinued operations and dispositions | (126) | (211) | (195) |
Net income | $ 943,157 | $ 727,887 | $ 227,558 |
Basic earnings per share: | |||
Income from continuing operations | $ 8.12 | $ 6.53 | $ 2.06 |
Income from discontinued operations and dispositions | 0 | 0 | 0 |
Net income | 8.12 | 6.53 | 2.06 |
Diluted earnings per share: | |||
Income from continuing operations | 8.08 | 6.50 | 2.04 |
Income from discontinued operations and dispositions | 0 | 0 | 0 |
Net income | $ 8.08 | $ 6.49 | $ 2.04 |
Product [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,329,102 | $ 2,778,725 | $ 2,017,042 |
Cost of Goods and Services Sold | 1,503,881 | 1,105,614 | 956,398 |
Service [Member] | |||
Revenue | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,738,067 | 1,004,020 | 866,631 |
Cost of Goods and Services Sold | $ 711,988 | $ 567,254 | $ 531,220 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Net income | $ 943,157 | $ 727,887 | $ 227,558 |
Other comprehensive income (loss) | |||
Foreign currency translation adjustments, net of tax | (130,873) | 169,500 | (23,978) |
Unrecognized prior service (cost) credit, net of tax | (95) | (1,799) | 807 |
Unrealized gains (losses) on securities, net of tax | 237 | (16) | 6 |
Other comprehensive income (loss) | (130,731) | 167,685 | (23,165) |
Comprehensive income | $ 812,426 | $ 895,572 | $ 204,393 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 618,319 | $ 402,036 |
Accounts receivable, net | 1,023,792 | 1,155,109 |
Inventories | 624,714 | 514,567 |
Other current assets | 173,955 | 167,208 |
Total current assets | 2,440,780 | 2,238,920 |
Property, plant and equipment, net | 545,605 | 368,304 |
Operating Lease, Right-of-Use Asset | 207,775 | 207,236 |
Intangible assets, net | 4,063,104 | 1,365,693 |
Goodwill | 7,416,584 | 3,447,114 |
Other assets, net | 326,706 | 333,048 |
Total assets | 15,000,554 | 7,960,315 |
Current liabilities: | ||
Current portion of long-term debt | 4,240 | 380,948 |
Accounts payable | 355,458 | 327,325 |
Accrued expenses and other current liabilities | 854,046 | 943,916 |
Total current liabilities | 1,213,744 | 1,652,189 |
Long-term debt | 4,979,737 | 1,609,701 |
Long-term liabilities | 1,480,469 | 774,531 |
Operating Lease, Liability, Noncurrent | 185,359 | 188,402 |
Total liabilities | 7,859,309 | 4,224,823 |
Commitments and contingencies (see Notes 13 and 16) | ||
Stockholders' equity: | ||
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding | 0 | 0 |
Common stock—$1 par value per share, authorized 300,000,000 shares; issued and outstanding 126,241,000 and 112,090,000 shares at January 2, 2022 and January 3, 2021, respectively | 126,241 | 112,090 |
Capital in excess of par value | 2,760,522 | 148,101 |
Retained earnings | 4,417,174 | 3,507,262 |
Accumulated other comprehensive loss | (162,692) | (31,961) |
Total stockholders' equity | 7,141,245 | 3,735,492 |
Total liabilities and stockholders' equity | $ 15,000,554 | $ 7,960,315 |
Consolidated Balance Sheet Pare
Consolidated Balance Sheet Parenthetical - $ / shares | Jan. 02, 2022 | Jan. 03, 2021 |
Balance Sheet Parenthetical [Abstract] | ||
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $ 1 | $ 1 |
Common stock, authorized | 300,000,000 | 300,000,000 |
Common stock, issued | 126,241,000 | 112,090,000 |
Common stock, outstanding | 126,241,000 | 112,090,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock Amount [Member] | Capital In Excess of Par Value [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Dec. 30, 2018 | $ 2,584,955 | $ 110,597 | $ 48,772 | $ 2,602,067 | $ (176,481) |
Net income | 227,558 | 0 | 227,558 | ||
Other comprehensive income (loss) | (23,165) | ||||
Dividends | (30,941) | (30,941) | 0 | ||
Exercise of employee stock options and related income tax benefits | 19,732 | 415 | 19,317 | ||
Issuance of common stock for employee benefit plans | 2,776 | 33 | 2,743 | ||
Cost of Repurchased Common Shares, Repurchase Plan and Amount for Statutory Tax Withholding Obligations | 6,313 | 67 | 6,246 | ||
Issuance of common stock for long-term incentive program | 19,307 | 162 | 19,145 | ||
Stock compensation | 6,626 | 0 | 6,626 | 0 | 0 |
Ending Balance at Dec. 29, 2019 | 2,813,824 | 111,140 | 90,357 | 2,811,973 | (199,646) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (23,165) | ||||
Other Comprehensive Income (Loss), after Reclassifications, Net of Tax | (23,165) | (23,165) | |||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | Accounting Standards Update 2016-02 [Member] | 13,289 | 13,289 | |||
Net income | 727,887 | 727,887 | |||
Other comprehensive income (loss) | 167,685 | ||||
Dividends | (31,270) | (31,270) | |||
Exercise of employee stock options and related income tax benefits | 37,671 | 764 | 36,907 | ||
Issuance of common stock for employee benefit plans | 4,101 | 39 | 4,062 | ||
Cost of Repurchased Common Shares, Repurchase Plan and Amount for Statutory Tax Withholding Obligations | 6,944 | 72 | 6,872 | ||
Issuance of common stock for long-term incentive program | 20,204 | 219 | 19,985 | ||
Stock compensation | 3,662 | 0 | 3,662 | 0 | 0 |
Ending Balance at Jan. 03, 2021 | 3,735,492 | 112,090 | 148,101 | 3,507,262 | (31,961) |
Other Comprehensive Income (Loss), after Reclassifications, Net of Tax | 167,685 | 167,685 | |||
Cumulative Effect of New Accounting Pronouncement in Period of Adoption | Accounting Standards Update 2016-13 [Member] | (1,328) | (1,328) | |||
Net income | 943,157 | 943,157 | |||
Other comprehensive income (loss) | (130,731) | ||||
Dividends | (33,245) | (33,245) | |||
Exercise of employee stock options and related income tax benefits | 25,120 | 358 | 24,762 | ||
Issuance of common stock for employee benefit plans | 3,628 | 21 | 3,607 | ||
Cost of Repurchased Common Shares, Repurchase Plan and Amount for Statutory Tax Withholding Obligations | 73,072 | 504 | 72,568 | ||
Issuance of common stock for long-term incentive program | 26,501 | 209 | 26,292 | ||
Stock compensation | 6,251 | 0 | 6,251 | 0 | 0 |
Ending Balance at Jan. 02, 2022 | 7,141,245 | $ 126,241 | $ 2,760,522 | $ 4,417,174 | (162,692) |
Other Comprehensive Income (Loss), after Reclassifications, Net of Tax | $ (130,731) | $ (130,731) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022USD ($) | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | |
Restricted Cash | $ 1,018 | $ 578 | $ 17 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 619,337 | 402,614 | 191,894 |
Operating activities: | |||
Net income | 943,157 | 727,887 | 227,558 |
Income (Loss) from discontinued operations and dispositions | 126 | 211 | 195 |
Income from continuing operations | 943,283 | 728,098 | 227,753 |
Adjustments to reconcile net income from continuing operations to net cash provided by continuing operations: | |||
Restructuring and other costs, net | 16,432 | 8,013 | 29,428 |
Depreciation and amortization | 358,004 | 246,507 | 214,025 |
Stock-based compensation | 32,780 | 29,126 | 31,514 |
Pension and other post-retirement expense | (30,891) | 18,012 | 26,107 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 3,119 | (8,827) | 3,881 |
Deferred taxes | (49,342) | (29,121) | (61,353) |
Deferred Income Tax Expense (Benefit), Continuing Operations, Discontinuing Operations | (49,342) | (29,121) | (61,353) |
Contingencies and Non-Cash Tax Matters | 1,924 | 4,518 | (424) |
Amortization of deferred debt issuance costs, interest rate hedge and accretion of discounts | 4,962 | 3,391 | 3,846 |
(Gain) loss on disposition of businesses and assets, net | (1,970) | 886 | 2,469 |
Amortization of acquired inventory revaluation | 35,201 | 2,793 | 21,590 |
Asset Impairment Charges | 3,868 | 7,937 | 0 |
Change in fair value of financial securities | (10,985) | (35) | (3,249) |
Gain (Loss) on Extinguishment of Debt | 0 | 0 | 32,541 |
Changes in assets and liabilities which (used) provided cash, excluding effects from companies purchased and divested: | |||
Accounts receivable, net | 155,391 | (373,895) | (100,630) |
Inventories, net | 2,376 | (122,513) | (9,607) |
Accounts payable | 823 | 62,753 | 7,351 |
Accrued expenses and other | (54,225) | 314,534 | (61,773) |
Net cash provided by operating activities | 1,410,750 | 892,177 | 363,469 |
Investing activities: | |||
Capital expenditures | (99,888) | (77,506) | (76,331) |
Payments to Acquire Investments | (23,130) | (20,059) | (6,387) |
Payments to Acquire Intangible Assets | 0 | 0 | (5,000) |
Proceeds from Divestiture of Businesses | 1,460 | 4,280 | 550 |
Proceeds from surrender of life insurance policies | 109 | 282 | 0 |
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired | (3,991,309) | (411,495) | (400,405) |
Net cash used in investing activities | (4,112,758) | (504,498) | (487,573) |
Financing activities: | |||
Payments on revolving credit facility | (1,559,133) | (897,674) | (1,692,489) |
Proceeds from Long-term Lines of Credit | 1,400,282 | 714,698 | 1,599,416 |
Proceeds from term loan | 500,000 | 0 | 0 |
Payments of Senior Debt | (339,605) | 0 | (530,276) |
Proceeds from sale of senior debt | 3,086,095 | 0 | 847,195 |
Payments of debt financing and equity issuance costs | (30,983) | 0 | (9,879) |
Proceeds from (Repayments of) Other Debt | (13,670) | (4,494) | (14,975) |
Settlement of cash flow hedges | (4,482) | (4,554) | (1,280) |
Settlement of swaps | 14,314 | 0 | 0 |
Payments for acquisition-related contingent consideration | (2,208) | (10,363) | (29,942) |
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised | 25,120 | 37,671 | 19,732 |
Purchases of common stock | (73,072) | (6,944) | (6,313) |
Dividends paid | (32,373) | (31,212) | (31,059) |
Net cash (used in) provided by financing activities | (2,941,657) | 202,872 | (150,130) |
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (22,926) | 25,913 | (447) |
Net increase in cash, cash equivalents and restricted cash | 216,723 | 210,720 | 25,579 |
Cash and cash equivalents at beginning of year | 402,036 | 191,877 | |
Cash and cash equivalents at end of year | 618,319 | 402,036 | 191,877 |
Supplemental disclosures of cash flow information | |||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 54,120 | 42,142 | 82,693 |
Income taxes | 364,565 | 162,454 | 77,059 |
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] | |||
Equity issued for business combination, net of issuance costs | $ 2,638,144 | $ 0 | $ 0 |
Interest and Other Expense (Inc
Interest and Other Expense (Income), Net | 12 Months Ended |
Jan. 02, 2022 | |
Other Income and Expenses [Abstract] | |
Interest and Other Expense (Income), Net | Interest and Other Expense, Net Interest and other expense, net, consisted of the following for the fiscal years ended: January 2, January 3, December 29, (In thousands) Interest income $ (2,241) $ (1,010) $ (1,495) Interest expense including costs of bridge financing 102,128 49,712 63,627 Loss on disposition of businesses and assets, net — — 2,469 Change in fair value of financial securities (10,985) (35) (3,249) Other components of net periodic pension (credit) cost (39,767) 18,833 25,344 Debt extinguishment costs — — 32,541 Other expense, net 3,357 4,717 5,594 Total interest and other expense, net $ 52,492 $ 72,217 $ 124,831 |
Interest and Other Expense (I_2
Interest and Other Expense (Income), Net | 12 Months Ended |
Jan. 02, 2022 | |
Other Income and Expenses [Abstract] | |
Interest and Other Expense (Income), Net | Interest and other expense, net, consisted of the following for the fiscal years ended: January 2, January 3, December 29, (In thousands) Interest income $ (2,241) $ (1,010) $ (1,495) Interest expense including costs of bridge financing 102,128 49,712 63,627 Loss on disposition of businesses and assets, net — — 2,469 Change in fair value of financial securities (10,985) (35) (3,249) Other components of net periodic pension (credit) cost (39,767) 18,833 25,344 Debt extinguishment costs — — 32,541 Other expense, net 3,357 4,717 5,594 Total interest and other expense, net $ 52,492 $ 72,217 $ 124,831 |
Interest and Other Expense (I_3
Interest and Other Expense (Income), Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Gain on disposition of businesses and assets, net | $ 0 | $ 0 | $ 2,469 |
Change in fair value of financial securities | (10,985) | (35) | (3,249) |
Interest expense including costs of bridge financing | 102,128 | 49,712 | 63,627 |
Interest income | (2,241) | (1,010) | (1,495) |
Interest expense including costs of bridge financing | 102,128 | 49,712 | 63,627 |
Gain (Loss) on Extinguishment of Debt | 0 | 0 | 32,541 |
Other components of net periodic pension (credit) cost | (39,767) | 18,833 | 25,344 |
Other expense, net | 3,357 | 4,717 | 5,594 |
Total interest and other expense, net | $ 52,492 | $ 72,217 | $ 124,831 |
Business Combinations and Asset
Business Combinations and Asset Purchases | 12 Months Ended |
Jan. 03, 2021 | |
Business Combinations [Abstract] | |
Business Combinations and Asset Purchases | Business Combinations Acquisitions in fiscal year 2021 Acquisition of BioLegend, Inc. In fiscal year 2021, t he Company completed the acquisition of BioLegend, Inc. ("BioLegend") and paid an aggregate consideration of $5.7 billion, net of cash acquired of $292.4 million, reflecting working capital and other adjustments (the "Aggregate Consideration"). The Aggregate Consideration was paid in a combination of $3.3 billion in cash and shares of the Company's common stock having a fair value of approximately $2.6 billion based on the $187.56 per share closing price of the Company's common stock on the New York Stock Exchange on September 17, 2021 (the "Stock Consideration"). The Stock Consideration consisted of 14,066,799 shares of the Company's common stock. BioLegend is recognized as a leading, global provider of life science antibodies and reagents headquartered in San Diego, California, with approximately 700 employees. The operations for this acquisition is reported within the results of the Company's Discovery & Analytical Solutions segment from the acquisition date. The excess of the purchase price over the fair value of the acquired net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired, and is not tax deductible. Identifiable definite-lived intangible assets, such as core technology, trade names, customer relationships and clone library, acquired as part of this acquisition had a weighted-average amortization period of 16.3 years. BioLegend's revenue and net loss for the period from the acquisition date to January 2, 2022 were $91.7 million and $25.8 million, respectively. The net loss includes $47.0 million of amortization of acquired intangible assets. The following unaudited pro forma information presents the combined financial results for the Company and BioLegend as if the acquisition of BioLegend had been completed at the beginning of fiscal year 2020: January 2, January 3, (In thousands, except per share data) Pro Forma Statements of Operations Information: Revenue $ 5,295,483 $ 4,024,631 Income from continuing operations 1,001,109 551,572 Basic earnings per share: Income from continuing operations $ 7.69 $ 4.39 Diluted earnings per share: Income from continuing operations $ 7.66 $ 4.37 The unaudited pro forma information for fiscal years 2021 and 2020 have been calculated after applying the Company's accounting policies and the impact of acquisition date fair value adjustments. The fiscal year 2021 unaudited pro forma income from continuing operations was adjusted to exclude approximately $43.2 million of acquisition-related transaction costs and $23.3 million of costs of bridge financing and debt pre-issuance hedges that were recognized in expense during the year. The fiscal year 2020 pro forma income from continuing operations was adjusted to include these acquisition-related transaction costs and the nonrecurring expenses related to the bridge financing and debt pre-issuance hedging costs and fair value adjustments. These pro forma condensed consolidated financial results have been prepared for comparative purposes only and include certain adjustments, such as fair value adjustment to inventory, increased interest expense on debt obtained to finance the transaction, and increased amortization for the fair value of acquired intangible assets. The pro forma information does not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the combination occurred at the beginning of each period presented, or of future results of the consolidated entities. The actual results of operations may differ significantly from the pro forma amounts reflected herein due to a variety of factors. Other acquisitions in 2021. During fiscal year 2021, the Company also completed the acquisition of seven other businesses for aggregate consideration of $1.2 billion. The acquired businesses include Oxford Immunotec Global PLC, a company based in Abingdon, UK with approximately 275 employees, for total consideration of $590.9 million and Nexcelom Bioscience Holdings, LLC, a company based in Lawrence, Massachusetts with approximately 130 employees, for total consideration of $267.3 million, and five other businesses, which were acquired for total consideration of $331.0 million. The excess of the purchase prices over the fair values of the acquired businesses' net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as employee workforces acquired, and has been allocated to goodwill, which is not tax deductible. Identifiable definite-lived intangible assets, such as core technology, trade names, and customer relationships, acquired as part of these acquisitions had a weighted-average amortization period of 12.4 years . The total purchase price for the acquisitions in fiscal year 2021 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: Preliminary BioLegend Other (In thousands) Fair value of business combination: Cash payments $ 3,336,115 $ 1,128,584 Common stock issued 2,638,369 — Other liability 6,857 2,910 Contingent consideration — 57,431 Working capital and other adjustments — 183 Less: cash acquired (292,377) (195,010) Total $ 5,688,964 $ 994,098 Identifiable assets acquired and liabilities assumed: Current assets $ 184,704 $ 72,826 Property, plant and equipment 147,200 26,507 Other assets 9,330 15,564 Identifiable intangible assets: Core technology and clone library 782,400 299,699 Trade names and patents 38,000 39,620 Licenses 8,979 — Customer relationships and backlog 1,714,800 141,170 Goodwill 3,510,710 547,388 Deferred taxes (668,920) (83,931) Deferred revenue — (1,197) Debt assumed — (4,628) Liabilities assumed (38,239) (58,920) Total $ 5,688,964 $ 994,098 The Company does not consider the other acquisitions completed during fiscal year 2021 to be material to its consolidated results of operations; therefore, the Company is only presenting pro forma financial information of operations for the BioLegend acquisition. The aggregate revenue and results of operations for the other acquisitions completed during fiscal year 2021 for the period from their respective acquisition dates to January 2, 2022 were not material. Acquisitions in fiscal year 2020 During fiscal year 2020, the Company completed the acquisition of four businesses for aggregate consideration of $438.9 million. The acquired businesses were Horizon Discovery Group plc (“Horizon”), a company based in Cambridge, UK with approximately 400 employees, which was acquired on December 23, 2020 for a total consideration of $399.8 million (£296.0 million), and three other businesses which were acquired for a total consideration of $39.1 million. The excess of the purchase prices over the fair values of the acquired businesses' net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforces acquired, and has been allocated to goodwill, which is not tax deductible. Identifiable definite-lived intangible assets, such as core technology, trade names, customer relationships and in-process research and development, acquired as part of these acquisitions had a weighted average amortization period of 11.0 years. The total purchase price for the acquisitions in fiscal year 2020 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: (In thousands) Fair value of business combination: Cash payments $ 437,661 Other liability 1,660 Working capital and other adjustments (384) Less: cash acquired (26,840) Total $ 412,097 Identifiable assets acquired and liabilities assumed: Current assets $ 35,532 Property, plant and equipment 20,302 Other assets 18,114 Identifiable intangible assets: Core technology 65,730 Trade names 5,580 Customer relationships and backlog 108,523 IPR&D 10,700 Goodwill 221,751 Deferred taxes (25,674) Deferred revenue (2,031) Liabilities assumed (46,430) Total $ 412,097 The Company does not consider the acquisitions completed during fiscal year 2020 to be material to its consolidated results of operations. The aggregate revenue and results of operations for the acquisitions completed during fiscal year 2020 for the period from their respective acquisition dates to January 3, 2021 were not material. Acquisitions in fiscal year 2019 During fiscal year 2019, the Company completed the acquisition of five businesses for aggregate consideration of $433.1 million. The acquired businesses include Cisbio Bioassays SAS, a company based in Codolet, France, which was acquired for total consideration of $219.9 million, Shandong Meizheng Bio-Tech Co., Ltd. ("Meizheng Group"), a company headquartered in Beijing, China, for total consideration of $166.5 million, and three other businesses which were acquired for total consideration of $46.6 million. The Company has a potential obligation to pay the former shareholders of certain of these acquired businesses additional contingent consideration of up to $31.8 million. The excess of the purchase prices over the fair values of the acquired businesses' net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforces acquired, and has been allocated to goodwill, which is not tax deductible. Identifiable definite-lived intangible assets, such as core technology, trade names and customer relationships, acquired as part of these acquisitions had a weighted average amortization period of 11.0 years. The total purchase price for the acquisitions in fiscal year 2019 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: (In thousands) Fair value of business combination: Cash payments $ 409,837 Other liability 7,084 Contingent consideration 12,734 Working capital and other adjustments 3,401 Less: cash acquired (15,984) Total $ 417,072 Identifiable assets acquired and liabilities assumed: Current assets $ 62,756 Property, plant and equipment 11,840 Other assets 626 Identifiable intangible assets: Core technology 153,267 Trade names 11,210 Customer relationships 101,500 Goodwill 169,108 Deferred taxes (63,113) Debt assumed (3,404) Liabilities assumed (26,718) Total $ 417,072 The Company does not consider the acquisitions completed during fiscal year 2019 to be material to its consolidated results of operations. The aggregate revenue and results of operations for the acquisitions completed during fiscal year 2019 for the period from their respective acquisition dates to December 29, 2019 were not material. As of January 2, 2022, the allocations of purchase prices for acquisitions completed in fiscal years 2020 and 2019 were considered final. The preliminary allocations of the purchase prices for acquisitions completed in fiscal year 2021 were based upon initial valuations. The Company's estimates and assumptions underlying the initial valuations are subject to the collection of information necessary to complete its valuations within the measurement periods, which are up to one year from the respective acquisition dates. The primary areas of the preliminary purchase price allocations that are not yet finalized relate to the fair value of certain tangible and intangible assets acquired and liabilities assumed, assets and liabilities related to income taxes and related valuation allowances, and residual goodwill. The Company expects to continue to obtain information to assist in determining the fair values of the net assets acquired at the acquisition dates during the measurement periods. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition dates that, if known, would have resulted in the recognition of those assets and liabilities as of those dates. These adjustments will be made in the periods in which the amounts are determined and the cumulative effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition dates. All changes that do not qualify as adjustments made during the measurement periods are also included in current period earnings. During fiscal year 2021, the Company obtained information relevant to determining the fair values of certain tangible and intangible assets acquired, and liabilities assumed, related to recent acquisitions and adjusted its purchase price allocations. The adjustments to the preliminary measurement were not material. The allocations of the purchase prices for acquisitions are based on estimates of the fair value of the net assets acquired and are subject to adjustment upon finalization of the purchase price allocations. The accounting for business combinations requires estimates and judgments as to expectations for future cash flows of the acquired business, and the allocation of those cash flows to identifiable intangible assets, in determining the estimated fair values for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed, including contingent consideration, are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. Contingent consideration is measured at fair value at the acquisition date, based on the probability that revenue thresholds or product development milestones will be achieved during the earnout period, with changes in the fair value after the acquisition date affecting earnings to the extent it is to be settled in cash. Increases or decreases in the fair value of contingent consideration liabilities primarily result from changes in the estimated probabilities of achieving revenue thresholds or product development milestones during the earnout period. As of January 2, 2022, the Company may have to pay contingent consideration, related to acquisitions with open contingency periods, of up to $108.4 million. As of January 2, 2022, the Company has recorded contingent consideration obligations of $58.0 million, of which $1.3 million was recorded in accrued expenses and other current liabilities, and $56.7 million was recorded in long-term liabilities. As of January 3, 2021, the Company had recorded contingent consideration obligations with an estimated fair value of $3.0 million, of which $2.9 million was recorded in accrued expenses and other current liabilities, and $0.1 million was recorded in long-term liabilities. The expected maximum earnout period for acquisitions with open contingency periods does not exceed 6.9 years from January 2, 2022, and the remaining weighted average expected earnout period at January 2, 2022 was 5.4 years. If the actual results differ from the estimates and judgments used in these fair values, the amounts recorded in the consolidated financial statements could result in a possible impairment of the intangible assets and goodwill, require acceleration of the amortization expense of definite-lived intangible assets or the recognition of additional contingent consideration which would be recognized as a component of operating expenses from continuing operations. Total acquisition and divestiture-related costs were $97.5 million, $9.3 million and $6.6 million for fiscal years 2021, 2020 and 2019. These amounts included $14.3 million of incentive award associated with the Company's acquisition of Meizheng Group, $5.4 million of net foreign exchange gain and $23.4 million of costs of bridge financing and debt pre-issuance hedges related to the BioLegend acquisition in fiscal year 2021, $4.7 million of incentive award associated with the Company's acquisition of Meizheng Group and $0.5 million of acquisition-related interest expenses in fiscal year 2020, and $2.6 million of net foreign exchange loss related mainly to the Company's acquisition of Cisbio Bioassays SAS and $0.5 million of compensation expense related to the acquisition of Tulip Diagnostics Private Limited in fiscal year 2019. These acquisition and divestiture-related costs were expensed as incurred and recorded in selling, general and administrative expenses and interest and other expense, net in the Company's consolidated statements of operations. |
Nature of Operations and Accoun
Nature of Operations and Accounting Policies | 12 Months Ended |
Jan. 02, 2022 | |
Accounting Policies [Abstract] | |
Nature of Operations and Accounting Policies | Nature of Operations and Accounting Policies Nature of Operations: PerkinElmer, Inc. is a leading provider of products, services and solutions to the diagnostics, life sciences and applied markets. Through its advanced technologies and differentiated solutions, critical issues are addressed that help to improve lives and the world around us. The consolidated financial statements include the accounts of PerkinElmer, Inc. and its subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated in consolidation. The Company has two operating segments: Discovery & Analytical Solutions and Diagnostics. The Company's Discovery & Analytical Solutions segment focuses on service and innovating for customers spanning the life sciences and applied markets. The Company's Diagnostics segment is targeted towards meeting the needs of clinically-oriented customers, especially within the growing areas of reproductive health, emerging market diagnostics and applied genomics. The Company's fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. Each of the fiscal years ended January 2, 2022 ("fiscal year 2021") and December 29, 2019 ("fiscal year 2019") included 52 weeks. The fiscal year ended January 3, 2021 ("fiscal year 2020") included 53 weeks. The fiscal year ending January 1, 2023 ("fiscal year 2022") will include 52 weeks. Accounting Policies and Estimates: The preparation of consolidated financial statements in accordance with United States (“U.S.”) Generally Accepted Accounting Principles (“GAAP”) requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Revenue Recognition: The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company recognizes revenue in an amount that reflects the consideration the Company expects to receive in exchange for the promised products or services when a performance obligation is satisfied by transferring control of those products or services to customers. Taxes that are collected by the Company from a customer and assessed by a governmental authority, that are both imposed on and concurrent with a specific revenue-producing transaction, are excluded from revenue. The Company reports shipping and handling revenue in revenue, to the extent it is billed to customers, and the associated costs in cost of product revenue. Warranty Costs: The Company provides for estimated warranty costs for products at the time of their sale. Warranty liabilities are estimated using expected future repair costs based on historical labor and material costs incurred during the warranty period. Warranty costs were not material in the periods presented. Inventories : Inventories, which include material, labor and manufacturing overhead, are valued at the lower of cost or market. Inventories are accounted for using the first-in, first-out method of determining inventory costs. Inventory quantities on-hand are regularly reviewed, and where necessary, provisions for excess and obsolete inventory are recorded based primarily on the Company’s estimated forecast of product demand and production requirements. Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits such as net operating loss carryforwards, to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established for any deferred tax asset for which realization is not more likely than not. The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. These reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized following resolution of any potential contingencies present related to the tax benefit. Potential interest and penalties associated with such uncertain tax positions is recorded as a component of income tax expense. Property, Plant and Equipment: The Company depreciates property, plant and equipment using the straight-line method over its estimated useful lives, which generally fall within the following ranges: buildings- 10 to 40 years; leasehold improvements - estimated useful life or remaining term of lease, whichever is shorter; and machinery and equipment- 3 to 8 years. Certain tooling costs are capitalized and amortized over a 3-year life, while repairs and maintenance costs are expensed. Pension and Other Postretirement Benefits: The Company sponsors both funded and unfunded U.S. and non-U.S. defined benefit pension plans and other postretirement benefits. The Company immediately recognizes actuarial gains and losses in operating results in the year in which the gains and losses occur. Actuarial gains and losses are measured annually as of the calendar month-end that is closest to the Company's fiscal year end and accordingly will be recorded in the fourth quarter, unless the Company is required to perform an interim remeasurement. The remaining components of pension expense, primarily service and interest costs and assumed return on plan assets, are recorded on a quarterly basis. The Company’s funding policy provides that payments to the U.S. pension trusts shall at least be equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974. Non-U.S. plans are accrued for, but generally not fully funded, and benefits are paid from operating funds. Translation of Foreign Currencies: For foreign operations, asset and liability accounts are translated at current exchange rates; income and expenses are translated using weighted average exchange rates for the reporting period. Resulting translation adjustments, as well as translation gains and losses from certain intercompany transactions considered permanent in nature, are reported in accumulated other comprehensive income ("AOCI"), a separate component of stockholders’ equity. Gains and losses arising from transactions and translation of period-end balances denominated in currencies other than the functional currency are included in other expense, net. Business Combinations: Business combinations are accounted for at fair value. Acquisition costs are expensed as incurred and recorded in selling, general and administrative expenses. Measurement period adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date. All changes that do not qualify as measurement period adjustments are also included in current period earnings. The accounting for business combinations requires estimates and judgment as to expectations for future cash flows of the acquired business, and the allocation of those cash flows to identifiable intangible assets, in determining the estimated fair value for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed, including contingent consideration, are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If the actual results differ from the estimates and judgments used in these estimates, the amounts recorded in the financial statements could result in a possible impairment of the intangible assets and goodwill, require acceleration of the amortization expense of finite-lived intangible assets, or the recognition of additional consideration which would be expensed. Goodwill and Other Intangible Assets: The Company’s intangible assets consist of (i) goodwill, which is not being amortized; (ii) indefinite lived intangibles, which consist of a trade name that is not subject to amortization; and (iii) amortizing intangibles, which consist of patents, trade names and trademarks, licenses, customer relationships and purchased technologies, which are being amortized over their estimated useful lives. The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill. This annual impairment assessment is performed by the Company on the later of January 1 or the first day of each fiscal year. Indefinite-lived intangibles are also subject to an annual impairment test. The impairment test consists of a comparison of the fair value of the indefinite-lived intangible asset with its carrying amount. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of the amortizing intangible asset . Amortizing intangible assets are reviewed for impairment when indicators of impairment are present. When a potential impairment has been identified, forecasted undiscounted net cash flows of the operations to which the asset relates are compared to the current carrying value of the long-lived assets present in that operation. If such cash flows are less than such carrying amounts, long-lived assets, including such intangibles, are written down to their respective fair values. Stock-Based Compensation: The Company accounts for stock-based compensation expense based on estimated grant date fair value, generally using the Black-Scholes option-pricing model. The fair value is recognized as expense in the consolidated financial statements over the requisite service period. The determination of fair value and the timing of expense using option pricing models such as the Black-Scholes model require the input of subjective assumptions, including the expected term and the expected price volatility of the underlying stock. The Company estimates the expected term assumption based on historical experience. In determining the Company’s expected stock price volatility assumption, the Company reviews both the historical and implied volatility of the Company’s common stock. Marketable Securities and Investments: Investments in debt securities that are classified as available for sale are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive (loss) income until realized. Investments in equity securities are recorded at their fair values with unrealized holding gains and losses included in earnings. Investments in equity securities without a readily determinable fair value are carried at cost minus impairment, if any. When an observable price change in orderly transactions for the identical or a similar investment of the same issuer has occurred, the Company elects to carry those equity investments at fair value as of the date that the observable transaction occurred. Cash and Cash Equivalents: The Company considers all highly liquid, unrestricted instruments with a purchased maturity of three months or less to be cash equivalents. The carrying amount of cash equivalents approximates fair value due to the short maturities of these instruments. Environmental Matters: The Company accrues for costs associated with the remediation of environmental pollution when it is probable that a liability has been incurred and the Company’s proportionate share of the amount can be reasonably estimated. The recorded liabilities have not been discounted. Research and Development: Research and development costs are expensed as incurred. In-process research and development ("IPR&D") costs acquired in a business combination are recorded at fair value as an intangible asset at the acquisition date and amortized once the product is ready for sale or expensed if abandoned. Restructuring and Other Costs: Generally, costs associated with an exit or disposal activity are recognized when the liability is incurred. Prior to recording restructuring charges for employee separation agreements, the Company notifies all employees of termination. Costs related to employee separation arrangements requiring future service beyond a specified minimum retention period are recognized over the service period. Comprehensive Income: Comprehensive income is defined as net income or loss and other changes in stockholders’ equity from transactions and other events from sources other than stockholders. Comprehensive income is reflected in the consolidated statements of comprehensive income. Derivative Instruments and Hedging: Derivatives are recorded on the consolidated balance sheets at fair value. Accounting for gains or losses resulting from changes in the values of those derivatives depends on the use of the derivative instrument and whether it qualifies for hedge accounting. For a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income and subsequently amortized into net earnings when the hedged exposure affects net earnings. Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge by matching the terms of the contract to the underlying transaction. The Company classifies the cash flows from hedging transactions in the same categories as the cash flows from the respective hedged items. Once established, cash flow hedges are generally recorded in other comprehensive income, unless an anticipated transaction is no longer likely to occur, and subsequently amortized into net earnings when the hedged exposure affects net earnings. Discontinued or dedesignated cash flow hedges are immediately settled with counterparties, and the related accumulated derivative gains or losses are recognized into net earnings on the consolidated financial statements. Settled cash flow hedges related to forecasted transactions that remain probable are recorded as a component of other comprehensive (loss) income and are subsequently amortized into net earnings when the hedged exposure affects net earnings. Forward contract effectiveness for cash flow hedges is calculated by comparing the fair value of the contract to the change in value of the anticipated transaction using forward rates on a monthly basis. The Company also has entered into other foreign currency forward contracts that are not designated as hedging instruments for accounting purposes. These contracts are recorded at fair value, with the changes in fair value recognized into interest and other expense, net on the consolidated financial statements. The Company also uses foreign currency denominated debt to hedge its investments in certain foreign subsidiaries. Realized and unrealized translation adjustments from these hedges are included in the foreign currency translation component of AOCI, as well as the offset translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. Leases: Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities in the Company's consolidated balance sheet. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities were recognized based on the present value of the remaining lease payments over the lease term. When the Company's lease did not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The Company used the implicit rate when readily determinable. The operating lease ROU asset excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as cars, the Company accounts for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has made an accounting policy election not to recognize ROU assets and lease liabilities that arise from short-term leases for facilities and equipment. Instead, the Company recognizes the lease payments in the consolidated statements of operations on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. As a lessor, the Company applies the practical expedient to not separate non-lease components from the associated lease component and instead accounts for those components as a single component if the non-lease components otherwise would be accounted for under ASC 606, Revenue From Contracts With Customers (“ASC 606”), and both of the following criteria are met: 1) the timing and pattern of transfer of the non-lease component or components and associated lease component are the same; and 2) the lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component or components associated with the lease component are the predominant component of the combined component, the Company accounts for the combined component in accordance with ASC 606. Otherwise, the Company accounts for the combined component as an operating lease in accordance with ASC 842. Recently Issued Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the "FASB") and are adopted by the Company as of the specified effective dates. Unless otherwise discussed, such pronouncements did not have or will not have a significant impact on the Company’s consolidated financial position, results of operations and cash flows or do not apply to the Company’s operations. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 eliminates certain exceptions and adds guidance to reduce complexity in accounting for income taxes. Specifically, this guidance: (1) removes the intraperiod tax allocation exception to the incremental approach; (2) removes the ownership changes in investments exception in determining when a deferred tax liability is recognized after an investor in a foreign entity transitions to or from the equity method of accounting and applies this provision on a modified retrospective basis through a cumulative-effect adjustment to retained earnings at the beginning of the period of adoption; and (3) removes the exception to using the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies accounting principles by making other changes, including requiring an entity to: (1) evaluate whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction; (2) make a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and to apply this provision retrospectively to all periods presented; and (3) recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and apply this provision either retrospectively for all periods presented or on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The provisions of this guidance (except as specifically mentioned above) are to be applied prospectively upon their effective date. The Company adopted the guidance beginning on January 4, 2021. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. |
Revenue from Contract with Cust
Revenue from Contract with Customer | 12 Months Ended |
Jan. 02, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | RevenueFor arrangements with multiple performance obligations, the Company accounts for individual products and services separately if they are distinct - i.e. if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate products and services in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products, extended warranties, and services. For items that are not sold separately, the Company estimates stand-alone selling prices by reference to the amount charged for similar items on a stand-alone basis. The Company sells products and services predominantly through its direct sales force. As a result, the use of distributors is generally limited to geographic regions where the Company has no direct sales force. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers, including distributors. Payment terms granted to distributors are the same as those granted to end-customers and payments are not dependent upon the distributor's receipt of payment from their end-user customers. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company determined that the contracts generally do not include a significant financing component. The primary purpose of its invoicing terms is to provide customers with simplified and predictable ways of purchasing products and services, rather than to receive financing from the customers or to provide customers with financing. Examples include invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period, and multi-year software licenses or software subscriptions that are invoiced annually with revenue recognized upfront. In limited circumstances where the Company provides the customer with a significant benefit of financing, the Company uses the practical expedient and only adjusts the transaction price for the effects of the time value of money and only on contracts where the duration of financing is more than one year. Nature of goods and services The Discovery & Analytical Solutions segment of the Company principally generates revenue from sales of (a) instruments, consumables and services in the applied markets and (b) instruments, reagents, informatics, software, subscriptions, detection and imaging technologies, extended warranties, training and services in the life sciences market. The Diagnostics segment of the Company principally generates revenue from sales of instruments, solutions, consumables, reagents, extended warranties and services in the diagnostics market. Products and services may be sold separately or in bundled packages. The typical length of a contract for service is 12 to 36 months. The revenue generated from the sale of instruments, consumables, reagents, and certain software is recognized at a point in time. The Company recognizes revenue in these arrangements at the point in time when control of the products has been transferred to customers, which is typically at delivery. Certain of the Company's products require specialized installation and configuration at the customer's site. Revenue for these products is deferred until installation is complete and customer acceptance has been received. When the Company places the instrument at the customer's site and sells the reagents to a customer, the instrument and reagents are accounted for together as one performance obligation. The Company does not charge a fee for the use of the instrument and retains ownership of the placed instrument. The Company has a right to remove the instrument and replace it with another instrument at the customer's site at any time throughout the contract term. The Company recognizes revenue upon delivery of reagents, which is the point in time where the Company has performed its obligation to provide a screening solution to the customer. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days. The revenue generated from the sale of licenses for software as a service, cloud services, subscriptions, extended warranties, and laboratory services and training is recognized over time. Term licenses, subscriptions and cloud services, are generally recognized ratably over the contract period or based upon consumption. The Company sells its software subscriptions and cloud services with maintenance services and, in some cases, with consulting services. The Company recognizes revenue for the software commencing when the service is made available to the customer. For maintenance and consulting services, revenue is recognized ratably over the period in which the services are provided. Revenue for laboratory services is recognized over the contract period or at a point in time when the service is billable, based on time and materials. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days. Disaggregation of revenue In the following tables, revenue is disaggregated by primary geographical market, end-markets and timing of revenue recognition. Reportable Segments For the fiscal year ended January 2, 2022 January 3, 2021 December 29, 2019 Discovery & Analytical Solutions Diagnostics Total Discovery & Analytical Solutions Diagnostics Total Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 876,367 $ 1,362,213 $ 2,238,580 $ 695,960 $ 750,641 $ 1,446,601 $ 717,205 $ 401,591 $ 1,118,796 Europe 599,886 982,476 1,582,362 490,789 864,687 1,355,476 495,768 291,610 $ 787,378 Asia 658,977 587,250 1,246,227 529,054 451,614 980,668 533,188 444,311 $ 977,499 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 Primary end-markets Diagnostics $ — $ 2,931,939 $ 2,931,939 $ — $ 2,066,942 $ 2,066,942 $ — $ 1,137,512 $ 1,137,512 Life sciences 1,337,340 — 1,337,340 1,032,209 — 1,032,209 977,200 — $ 977,200 Applied markets 797,890 — 797,890 683,594 — 683,594 768,961 — $ 768,961 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 Timing of revenue recognition Products and services transferred at a point in time $ 1,595,245 $ 2,285,836 $ 3,881,081 $ 1,195,249 $ 1,891,482 $ 3,086,731 $ 1,276,499 $ 1,053,974 $ 2,330,473 Services transferred over time 539,985 646,103 1,186,088 520,554 175,460 696,014 469,662 83,538 553,200 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 Major Customer Concentration Revenues from one customer in the Company's Diagnostics segment represent approximately $638.6 million, $97.8 million and $30.8 million of the Company's total revenue during the fiscal years 2021, 2020 and 2019, respectively. Contract Balances Contract assets: The unbilled receivables (contract assets) primarily relate to the Company's right to consideration for work completed but not billed at the reporting date. The unbilled receivables are transferred to trade receivables when billed to customers. Contract assets are generally classified as current assets and are included in "Accounts receivable, net" in the consolidated balance sheets. (In thousands) Balance at December 29, 2019 $ 37,036 Transferred to trade receivables from unbilled receivables recognized at the beginning of the period (33,236) Increases as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period 55,674 Balance at January 3, 2021 59,474 Transferred to trade receivables from unbilled receivables recognized at the beginning of the period (51,969) Increases as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period 64,612 Balance at January 2, 2022 $ 72,117 Contract liabilities: The contract liabilities primarily relate to the advance consideration received from customers for products and related installation for which transfer of control has not occurred at the balance sheet date. Contract liabilities are classified as either current in "Accounts payable" or "Accrued expenses and other current liabilities" or as long-term in "Long-term liabilities" in the consolidated balance sheets based on the timing of when the Company expects to recognize revenue. (In thousands) Balance at December 29, 2019 $ 29,944 Revenue recognized that was included in the contract liability balance at the beginning of the period (27,328) Increases due to cash received, excluding amounts recognized as revenue during the period 235,499 Balance at January 3, 2021 238,115 Revenue recognized that was included in the contract liability balance at the beginning of the period (99,997) Increases due to cash received, excluding amounts recognized as revenue during the period 62,955 Balance at January 2, 2022 $ 201,073 Contract costs: The Company recognizes the incremental costs of obtaining a contract with a customer as an asset if it expects the benefit of those costs to be longer than one year. The Company determined that certain sales incentive programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were immaterial during the period and are included in other current and long-term assets on the consolidated balance sheets. The Company applies a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. Transaction price allocated to the remaining performance obligations The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. The estimated revenue expected to be recognized beyond one year in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the period are not material to the Company. The remaining performance obligations primarily include noncancelable purchase orders and noncancelable software subscriptions and cloud service contracts. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 02, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of income from continuing operations before income taxes were as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) U.S. $ 562,704 $ 183,452 $ 29,252 Non-U.S. 717,182 722,912 207,890 Total $ 1,279,886 $ 906,364 $ 237,142 The components of the provision for income taxes on continuing operations were as follows: Current Deferred Total (In thousands) Fiscal year ended January 2, 2022 Federal $ 150,621 $ (37,551) $ 113,070 State 62,381 3,508 65,889 Non-U.S. 172,943 (15,299) 157,644 Total $ 385,945 $ (49,342) $ 336,603 Fiscal year ended January 3, 2021 Federal $ 21,262 $ 15,951 $ 37,213 State 13,688 (967) 12,721 Non-U.S. 172,437 (44,105) 128,332 Total $ 207,387 $ (29,121) $ 178,266 Fiscal year ended December 29, 2019 Federal $ 3,735 $ (267) $ 3,468 State 4,425 (1,574) 2,851 Non-U.S. 62,582 (59,512) 3,070 Total $ 70,742 $ (61,353) $ 9,389 The total provision for income taxes included in the consolidated financial statements is as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) Continuing operations $ 336,603 $ 178,266 $ 9,389 Discontinued operations 126 135 195 Total $ 336,729 $ 178,401 $ 9,584 A reconciliation of income tax expense at the U.S. federal statutory income tax rate to the recorded tax provision is as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) Tax at statutory rate $ 268,776 $ 190,339 $ 49,799 Non-U.S. rate differential, net (34,676) (40,216) (32,124) U.S. taxation of multinational operations 9,731 9,050 4,251 State income taxes, net 37,907 13,306 1,941 Prior year tax matters 3,068 8,262 (5,103) Effect of stock compensation (2,961) (8,818) (2,053) General business tax credits (4,277) (4,136) (4,325) Change in valuation allowance 3,070 10 (1,117) Rate change on long term intangibles 14,031 — — Effect of foreign operations 37,147 — — Foreign consolidations — 15,222 — Tax elections — — (3,700) Impact of U.S. Tax Act — — 2,718 Others, net 4,787 (4,753) (898) Total $ 336,603 $ 178,266 $ 9,389 The variation in the Company's effective tax rate for fiscal year 2021 is primarily affected by the recognition of $37.1 million in U.S. federal, U.S. state and non-U.S. taxes due when the Company repatriates foreign earnings that it no longer considers indefinitely reinvested. The Company also recognized $19.0 million in fiscal year 2021, $21.8 million in fiscal year 2020 and $10.4 million in fiscal year 2019 of benefits derived from tax holidays in China and Singapore. The effect of these benefits, derived from tax holidays, on basic and diluted earnings per share for fiscal year 2021 was $0.16 and $0.16, respectively, for fiscal year 2020 was $0.20 and $0.19, respectively, and for fiscal year 2019 was $0.09 and $0.09, respectively. The tax holiday in China is renewed every three years. The Company expects to renew the tax holiday for two of the Company's subsidiaries in China that expired in fiscal year 2021. The tax holiday for one of the Company's subsidiaries in Singapore is scheduled to expire in fiscal year 2023. The Company regularly reviews its tax positions in each significant taxing jurisdiction in the process of evaluating its unrecognized tax benefits. The Company makes adjustments to its unrecognized tax benefits when: (i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; (ii) a tax position is effectively settled with a tax authority at a differing amount; and/or (iii) the statute of limitations expires regarding a tax position. The tabular reconciliation of the total amounts of unrecognized tax benefits is as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) Unrecognized tax benefits, beginning of year $ 38,773 $ 35,547 $ 33,009 Gross increases—tax positions in prior periods 2,877 4,974 275 Gross decreases—tax positions in prior periods — (2,471) (2,183) Gross increases—current-period tax positions 149 151 152 Gross increases related to acquisitions 22,697 158 4,158 Settlements (2,252) — (45) Lapse of statute of limitations (563) — — Foreign currency translation adjustments (23) 414 181 Unrecognized tax benefits, end of year $ 61,658 $ 38,773 $ 35,547 The Company classifies interest and penalties as a component of income tax expense. At January 2, 2022 and January 3, 2021, the Company had accrued interest and penalties of $7.6 million and $5.8 million, respectively. During fiscal years 2021, 2020 and 2019, the Company recognized a net expense of $1.8 million, $1.8 million and $1.6 million, respectively, for interest and penalties in its total tax provision which includes settlements and statutes of limitations that had lapsed. At January 2, 2022, the Company had tax effected unrecognized tax benefits which, if recognized, $58.0 million would affect the continuing operations effective tax rate and $1.7 million would affect discontinued operations. The Company believes that it is reasonably possible that approximately $1.0 million of its uncertain tax positions at January 2, 2022, including accrued interest and penalties, and net of tax benefits, may be resolved over the next twelve months as a result of lapses in applicable statutes of limitations and potential settlements. Various tax years after 2010 remain open to examination by certain jurisdictions in which the Company has significant business operations, such as China, Finland, Germany, Luxembourg, The Netherlands, Singapore, the United Kingdom and the United States. The tax years under examination vary by jurisdiction. During fiscal year 2021, the Company recorded net discrete income tax expense of $43.2 million, which primarily consisted of $37.1 million related to the assertions regarding reinvestment of foreign earnings, increase in unrecognized tax benefits of $1.9 million, other adjustments of $3.9 million and a discrete tax expense of $14.0 million due to the remeasurement of United Kingdom deferred tax liabilities on long-lived purchase accounting intangibles and a $1.8 million tax benefit related to other net United Kingdom deferred tax assets and liabilities in connection with United Kingdom Finance Act 2021, which increased the United Kingdom corporation tax from 19% to 25%, effective April 1, 2023. The remaining discrete tax benefit, excluding the United Kingdom rate change, related to excess tax benefits on stock compensation of $5.5 million and $6.4 million resulting from a transaction that was completed during the second quarter of fiscal year 2021. During fiscal year 2020, the Company recorded net discrete income tax expense of $10.8 million, which primarily consisted of $15.2 million assessment related to the consolidation of foreign entities in fiscal years 2019 and 2018. The Company filed an appeal for relief on this matter with the relevant foreign tax authority, but cannot be assured of a favorable outcome, and has therefore recorded the full impact in the tax provision. The Company also provided for interest on uncertain tax positions of $4.5 million, foreign tax rate changes of $2.5 million, return to provision adjustments of $1.2 million and other tax matters of $1.6 million, offset by recognition of excess tax benefits on stock compensation of $11.7 million and a valuation allowance reversal of $2.5 million. During fiscal year 2019, the Compan y recorded a net discrete income tax benefit of $23.4 million which was primarily due to a valuation allowance reversal of $12.3 million, recognition of excess tax benefits on stock compensation of $4.9 million, return to provision adjustments of $6.7 million and benefits from tax elections made during fiscal year 2019 of $3.7 million, partially offset by a tax expense of $2.7 million related to the one-time transition tax under the Tax Cut and Jobs Act ("Tax Act") and additional discrete expense of $1.4 million expense related to other tax matters. The tax effects of temporary differences and attributes that gave rise to deferred income tax assets and liabilities were as follows: January 2, January 3, (In thousands) Deferred tax assets: Inventory $ 3,152 $ 4,788 Reserves and accruals 56,085 51,107 Accrued compensation 30,352 20,881 Net operating loss and credit carryforwards 113,787 131,884 Accrued pension 23,801 34,192 Restructuring reserve 1,442 1,579 Deferred revenue 49,431 29,838 Operating lease liabilities 37,936 42,220 Unrealized foreign exchange loss 14,631 21,614 All other, net 631 — Total deferred tax assets 331,248 338,103 Deferred tax liabilities: Postretirement health benefits (5,303) (8,168) Depreciation and amortization (1,037,637) (355,876) Operating lease right-of-use assets (34,111) (38,598) Prepaids (3,263) (4,160) Deferred tax liability on foreign earnings (31,239) — Total deferred tax liabilities (1,111,553) (406,802) Valuation allowance (91,503) (99,740) Net deferred tax liabilities $ (871,808) $ (168,439) The components of net deferred tax liabilities were recognized in the consolidated balance sheets as follows: January 2, January 3, (In thousands) Other assets, net $ 22,007 $ 65,518 Deferred taxes and other long-term liabilities (893,815) (233,957) Total $ (871,808) $ (168,439) At January 2, 2022, for income tax return purposes, the Company had U.S. federal net operating loss carryforwards of $74.8 million, state net operating loss carryforwards of $10.8 million, foreign net operating loss carryforwards of $452.0 million, state tax credit carryforwards of $15.0 million, general business tax credit carryforwards of $0.6 million, and foreign tax credit carryforwards of $0.1 million. These losses begin to expire in 2022 without expiration for certain foreign net operating loss carryforwards and certain state credit carryforwards. Valuation allowances take into consideration limitations imposed upon the use of the tax attributes and reduce the value of such items to the likely net realizable amount. The Company regularly evaluates positive and negative evidence available to determine if valuation allowances are required or if existing valuation allowances are no longer required. Valuation allowances have been provided on state net operating loss and state tax credit carryforwards and on certain foreign tax attributes that the Company has determined are not more likely than not to be realized. The decrease in the valuation allowance of $8.2 million in fiscal year 2021 is primarily due to release of net operating loss carryforwards as a result of an audit settlement in Finland and utilization of carryforwards in Luxembourg, offset by an increase in China and other jurisdictions. The components of net deferred tax liabilities were as follows: January 2, January 3, (In thousands) U.S. $ (621,449) $ 50,302 Non-U.S. (250,359) (218,741) Total $ (871,808) $ (168,439) Prior to enactment of the Tax Act, the Company did not provide deferred income tax expense on the cumulative undistributed earnings of its international subsidiaries. The Tax Act required the Company to accrue a one-time transition tax on the unremitted earnings of its foreign subsidiaries. At December 31, 2017, the Company accrued for a one-time transition tax expense of $85.0 million on its unremitted foreign earnings in accordance with the Tax Act. The U.S. Treasury subsequently issued regulations on the Tax Act and the Company recorded tax expense (benefit) of $2.7 million and $(4.6) million during fiscal years 2019 and 2018, respectively. As of January 2, 2022, the Company evaluated its undistributed foreign earnings and identified approximately $1.2 billion in earnings that it no longer considers indefinitely reinvested. The Company intends to begin repatriating such earnings to the U.S., in whole or in part, during fiscal year 2022. In doing so, the Company has recorded a provision of approximately $37.1 million for the U.S. federal, U.S. state and non-U.S. taxes that would fall due when such earnings are repatriated. No additional income tax expense has been provided for any remaining undistributed foreign earnings, or any additional outside basis difference inherent in these entities, as these amounts continue to be indefinitely reinvested. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jan. 02, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations for the fiscal years ended: January 2, January 3, December 29, (In thousands) Number of common shares—basic 116,165 111,514 110,827 Effect of dilutive securities: Stock options 391 466 541 Restricted stock awards 118 105 133 Number of common shares—diluted 116,674 112,085 111,501 Number of potentially dilutive securities excluded from calculation due to antidilutive impact 487 220 364 Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future. |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Jan. 02, 2022 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Accounts Receivable, Net | Accounts Receivable, Net Accounts receivable, net consisted of the following: January 2, January 3, (In thousands) Accounts receivable, net, current $ 1,023,792 $ 1,155,109 Long-term accounts receivable, net, included in Other assets, net 30,303 22,510 Total accounts receivable, net $ 1,054,095 $ 1,177,619 Reserves for credit losses consisted of the following: Balance at Provisions Charges/ Other (1) Balance (In thousands) Year ended December 29, 2019 $ 30,590 $ 6,853 $ (3,009) $ 798 $ 35,232 Year ended January 3, 2021 35,232 16,695 (5,857) 1,524 47,594 Year ended January 2, 2022 47,594 8,150 (4,646) 101 51,199 (1) Other amounts primarily relate to the impact of acquisitions, discontinued operations and foreign exchange movements. |
Inventories, Net
Inventories, Net | 12 Months Ended |
Jan. 02, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | Inventories Inventories consisted of the following: January 2, January 3, (In thousands) Raw materials $ 229,356 $ 205,022 Work in progress 69,744 35,160 Finished goods 325,614 274,385 Total inventories $ 624,714 $ 514,567 |
Property, Plant and Equipment,
Property, Plant and Equipment, Net | 12 Months Ended |
Jan. 02, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment consisted of the following: January 2, January 3, (In thousands) At cost: Land $ 29,793 $ 3,937 Building and leasehold improvements 428,322 291,526 Machinery and equipment 608,658 522,734 Total property, plant and equipment 1,066,773 818,197 Accumulated depreciation (521,168) (449,893) Total property, plant and equipment, net $ 545,605 $ 368,304 Depreciation expense on property, plant and equipment for the fiscal years ended January 2, 2022, January 3, 2021 and December 29, 2019 was $67.3 million, $54.0 million and $49.7 million, respectively. |
Marketable Securities and Inves
Marketable Securities and Investments | 12 Months Ended |
Jan. 02, 2022 | |
Marketable Securities [Abstract] | |
Marketable Securities and Investments | Marketable Securities and Investments Investments consisted of the following: January 2, January 3, (In thousands) Marketable securities $ 53,073 $ 2,154 Equity investments 31,514 48,626 $ 84,587 $ 50,780 Marketable securities. Marketable securities include equity and fixed-income securities. The net unrealized holding gain and loss on marketable securities, net of deferred income taxes, reported as a component of other comprehensive income (loss) in the consolidated statements of stockholders' equity, was not material in fiscal years 2021 and 2020. The proceeds from the sales of securities and the related gains and losses are not material for any period presented. Marketable securities classified as available for sale consisted of the following: Market Value Gross Unrealized Holding Cost Gains (Losses) (In thousands) January 2, 2022 Equity securities $ 51,418 $ 51,418 $ — $ — Fixed-income securities 7 7 — — Other 1,648 1,711 — (63) $ 53,073 $ 53,136 $ — $ (63) January 3, 2021 Equity securities $ 203 $ 584 $ — $ (381) Fixed-income securities 7 7 — — Other 1,944 2,007 — (63) $ 2,154 $ 2,598 $ — $ (444) Equity investments. The Company has equity interests in privately-held entities over which the Company neither has significant influence nor control. Equity investments without readily determinable fair values as of January 2, 2022 and January 3, 2021 consisted of the following: January 2, January 3, (In thousands) Equity investments, carried at cost minus impairment, if any $ 30,176 $ 27,438 Equity investments, carried at fair value 1,338 21,188 $ 31,514 $ 48,626 The amount of upward adjustments during fiscal years 2021, 2020 and 2019 were $19.6 million, $0.04 million and $8.2 million, respectively. The cumulative amount of upward adjustments as of January 2, 2022 and January 3, 2021 was $27.8 million and $8.2 million, respectively. The amount of impairments and downward adjustments during fiscal year 2021 and fiscal year 2019 were $0.1 million and $4.9 million, respectively. The cumulative amount of impairments and downward adjustments as of January 2, 2022 and January 3, 2021 was $5.0 million and $4.9 million, respectively. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 12 Months Ended |
Jan. 02, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, NetThe Company tests goodwill and indefinite-lived intangible assets at least annually for possible impairment. Accordingly, the Company completes the annual testing of impairment for goodwill and indefinite-lived intangible assets on the later of January 1 or the first day of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill or indefinite-lived intangible assets. The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill. The Company performed its annual impairment testing for its reporting units as of January 4, 2021, its annual impairment testing date for fiscal year 2021. The Company concluded based on the first step of the process that there was no goodwill impairment, and the fair value exceeded the carrying value by more than 20% for each reporting unit, except for the Company's Tulip reporting unit, which had a fair value that was between 10% and 20% more than its carrying value. While the Company believes that its estimates of current value are reasonable, if actual results differ from the estimates and judgments used, including such items as future cash flows and the volatility inherent in markets which the Company serves, impairment charges against the carrying value of those assets could be required in the future. Indefinite-lived intangibles are also subject to an annual impairment test. The Company consistently employed the relief from royalty model to estimate the current fair value when testing for impairment of indefinite-lived intangible asset. The impairment test consists of a comparison of the fair value of the indefinite-lived intangible asset with its carrying amount. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of the amortizing intangible asset. The changes in the carrying amount of goodwill for fiscal years 2021 and 2020 are as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Balance at December 29, 2019 $ 1,498,820 $ 1,612,407 $ 3,111,227 Foreign currency translation 58,086 62,596 120,682 Acquisitions, earnouts and other 198,981 16,224 215,205 Balance at January 3, 2021 1,755,887 1,691,227 3,447,114 Foreign currency translation (51,963) (40,557) (92,520) Acquisitions, earnouts and other 3,742,310 319,680 4,061,990 Balance at January 2, 2022 $ 5,446,234 $ 1,970,350 $ 7,416,584 Identifiable intangible asset balances at January 2, 2022 by category and segment were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Patents $ 28,324 $ 2,709 $ 31,033 Less: Accumulated amortization (27,961) (732) (28,693) Net patents 363 1,977 2,340 Trade names and trademarks 91,300 79,683 170,983 Less: Accumulated amortization (40,472) (21,969) (62,441) Net trade names and trademarks 50,828 57,714 108,542 Licenses 59,477 8,410 67,887 Less: Accumulated amortization (50,347) (3,968) (54,315) Net licenses 9,130 4,442 13,572 Core technology 1,314,313 519,864 1,834,177 Less: Accumulated amortization (285,477) (208,833) (494,310) Net core technology 1,028,836 311,031 1,339,867 Customer relationships 2,311,599 884,105 3,195,704 Less: Accumulated amortization (307,367) (366,058) (673,425) Net customer relationships 2,004,232 518,047 2,522,279 IPR&D 5,920 — 5,920 Net amortizable intangible assets 3,099,309 893,211 3,992,520 Indefinite-lived intangible asset: Trade name 70,584 — 70,584 Total $ 3,169,893 $ 893,211 $ 4,063,104 Identifiable intangible asset balances at January 3, 2021 by category and segment were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Patents $ 28,146 $ 2,709 $ 30,855 Less: Accumulated amortization (27,933) (507) (28,440) Net patents 213 2,202 2,415 Trade names and trademarks 51,143 47,518 98,661 Less: Accumulated amortization (31,859) (16,947) (48,806) Net trade names and trademarks 19,284 30,571 49,855 Licenses 50,468 8,232 58,700 Less: Accumulated amortization (49,317) (3,135) (52,452) Net licenses 1,151 5,097 6,248 Core technology 456,607 333,192 789,799 Less: Accumulated amortization (232,648) (166,344) (398,992) Net core technology 223,959 166,848 390,807 Customer relationships 475,748 881,912 1,357,660 Less: Accumulated amortization (239,428) (283,392) (522,820) Net customer relationships 236,320 598,520 834,840 IPR&D 10,944 — 10,944 Net amortizable intangible assets 491,871 803,238 1,295,109 Indefinite-lived intangible asset: Trade name 70,584 — 70,584 Total $ 562,455 $ 803,238 $ 1,365,693 Total amortization expense related to definite-lived intangible assets was $290.2 million in fiscal year 2021, $192.6 million in fiscal year 2020 and $164.3 million in fiscal year 2019. Estimated amortization expense related to definite-lived intangible assets for each of the next five years is $413.6 million in fiscal year 2022, $402.8 million in fiscal year 2023, $391.0 million in fiscal year 2024, $363.5 million in fiscal year 2025, and $349.6 million in fiscal year 2026. |
Debt
Debt | 12 Months Ended |
Jan. 02, 2022 | |
Debt Disclosure [Abstract] | |
Debt | Debt The Company’s debt consisted of the following: January 2, Outstanding Principal Unamortized Debt Discount Unamortized Debt Issuance Costs Net Carrying Amount (In thousands) Long-Term Debt: Senior Unsecured Revolving Credit Facility $ — $ — $ (3,362) $ (3,362) Unsecured Term Loan Credit Facility 500,000 (14) (658) 499,328 0.550% Senior Unsecured Notes due in 2023 500,000 (152) (2,093) 497,755 0.850% Senior Unsecured Notes due in 2024 800,000 (447) (4,945) 794,608 1.875% Senior Unsecured Notes due in 2026 ("2026 Notes") 568,600 (2,538) (2,280) 563,782 1.900% Senior Unsecured Notes due in 2028 500,000 (348) (4,200) 495,452 3.3% Senior Unsecured Notes due in 2029 ("2029 Notes") 850,000 (2,252) (6,234) 841,514 2.55% Senior Unsecured Notes due in 2031 400,000 (126) (3,294) 396,580 2.250% Senior Unsecured Notes due in 2031 500,000 (1,485) (4,380) 494,135 3.625% Senior Unsecured Notes due in 2051 400,000 (4) (4,335) 395,661 Other Debt Facilities, non-current 4,284 — — 4,284 Total Long-Term Debt 5,022,884 (7,366) (35,781) 4,979,737 Current Portion of Long-term Debt: Other Debt Facilities, current 4,240 — — 4,240 Total Debt $ 5,027,124 $ (7,366) $ (35,781) $ 4,983,977 January 3, Outstanding Principal Unamortized Debt Discount Unamortized Debt Issuance Costs Net Carrying Amount (In thousands) Long-Term Debt: Senior Unsecured Revolving Credit Facility $ 158,595 $ — $ (2,621) $ 155,974 2026 Notes 610,750 (3,253) (2,782) 604,715 2029 Notes 850,000 (2,496) (6,908) 840,596 Other Debt Facilities, non-current 8,416 — — 8,416 Total Long-Term Debt 1,627,761 (5,749) (12,311) 1,609,701 Current Portion of Long-term Debt: 0.6% Senior Unsecured Notes due in 2021 ("2021 Notes") 366,450 (16) (229) 366,205 Other Debt Facilities, current 14,743 — — 14,743 Total Current Portion of Long-Term Debt 381,193 (16) (229) 380,948 Total Debt $ 2,008,954 $ (5,765) $ (12,540) $ 1,990,649 Senior Unsecured Revolving Credit Facility. On August 24, 2021, the Company terminated its previous senior unsecured revolving credit facility and entered into a new senior unsecured revolving credit facility with a five-year term and a borrowing capacity of $1.5 billion available through August 24, 2026. As of January 2, 2022, undrawn letters of credit in the aggregate amount of $11.0 million were treated as issued and outstanding when calculating the borrowing availability under the facility. As of January 2, 2022, the Company had $1.49 billion available for additional borrowing under the facility. Borrowings will bear interest, payable quarterly or, if earlier, at the end of any interest period, at the Company's option at either (a) the base rate (as defined in the credit agreement), or (b) the eurocurrency rate (a publicly published rate), in each case plus a percentage spread based on the credit rating of the Company's debt. The base rate is the highest of (a) the Federal Funds Rate (as defined in the credit agreement) plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its "prime rate," and (c) the Eurocurrency Rate plus 1.00% . T he credit agreement for the new facility contains customary affirmative, negative and financial covenants and events of default. The financial covenants include a debt-to-capital ratio that remains applicable for so long as the Company's debt is rated as investment grade. In the event that the Company's debt is not rated as investment grade, the debt-to-capital ratio covenant is replaced with leverage ratio and interest coverage ratio covenants. Unsecured Term Loan Credit Facility. The Company ente red into an unsecured delayed draw term loan credit facility on August 11, 2021 that provided for $500.0 million of term loans available through the earlier of (i) the consummation of the Company's acquisition of BioLegend (with such transaction acquiring BioLegend being the “Acquisition”) and (ii) the date that is five (5) business days after October 25, 2021, and as could be extended through January 31, 2022 in the event that the outside date under the definitive agreement with respect to the Acquisition was extended. On September 16, 2021, the Company borrowed the full $500.0 million from the term loan facility and used the proceeds to partially fund the Acquisition. The interest rates under the senior unsecured term loan credit facility are at either (a) the base rate, as described in the credit agreement, or (b) the eurocurrency rate (a publicly published rate), in each case plus a percentage spread based on the credit rating of the Company’s debt. The base rate is the highest of (a) the Federal Funds Rate (as defined in the credit agreement) plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its "prime rate," and (c) the Eurocurrency Rate plus 1.00% . The Eurocurrency margin as of January 2, 2022 was 113.0 basis points. The weighted average Eurocurrency interest rate as of January 2, 2022 was 0.10%, resulting in a weighted average effective Eurocurrency Rate, including the margin, of 1.23%, which was the interest applicable to the borrowings outstanding as of January 2, 2022. The credit agreement for the facility contains customary affirmative, negative and financial covenants and events of defaults which are substantially similar to those contained in the senior unsecured revolving credit facility. Senior Unsecured Notes. On September 10, 2021, the Company issued the following notes: • $500.0 million aggregate principal amount of 0.550% senior unsecured notes due in 2023 (the "2023 Notes”), • $800.0 million aggregate principal amount of 0.850% senior unsecured notes due in 2024 (the "2024 Notes”), • $500.0 million aggregate principal amount of 1.900% senior unsecured notes due in 2028 (the "2028 Notes”), and • $500.0 million aggregate principal amount of 2.250% senior unsecured notes due in September 2031 (the "September 2031 Notes”). On March 8, 2021, the Company issued the following notes: • $400.0 million aggregate principal amount of 2.550% senior unsecured notes due in March 2031 (the "March 2031 Notes”), and • $400.0 million aggregate principal amount of 3.625% senior unsecured notes due in 2051 (the "2051 Notes”). Interest on each series of notes is payable semi-annually on March 15th and September 15th each year. The notes include optional redemption features, which allow the Company to redeem the notes, at the Company's option and subject to terms, conditions and limitations specified in the indentures governing the notes, at redemption prices set forth in the indentures governing the notes, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. Upon a change of control repurchase event (as defined in the indentures governing the notes) of the Company, the Company will, in certain circumstances, make an offer to repurchase the notes at a price equal to 101% of their principal amount plus any accrued and unpaid interest, if any, to, but excluding, the date of repurchase. The following table summarizes the maturities of the Company’s indebtedness as of January 2, 2022: |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 02, 2022 | |
Accounts Payable and Accrued Liabilities, Current [Abstract] | |
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: January 2, January 3, (In thousands) Payroll and incentives $ 106,338 $ 96,502 Employee benefits 54,058 47,489 Deferred revenue 226,331 206,494 Federal, non-U.S. and state income taxes 90,963 97,406 Operating lease liabilities 40,567 40,330 Contract liabilities 77,178 189,718 Other accrued operating expenses 258,611 265,977 Total accrued expenses and other current liabilities $ 854,046 $ 943,916 |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jan. 02, 2022 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans Savings Plan: The Company has a 401(k) Savings Plan for the benefit of all qualified U.S. employees, with such employees receiving matching contributions in the amount equal to 100.0% of the first 5.0% of eligible compensation up to applicable Internal Revenue Service limits. Savings plan expense was $16.5 million in fiscal year 2021, $14.1 million in fiscal year 2020, and $13.6 million in fiscal year 2019. Pension Plans: The Company has a defined benefit pension plan covering certain U.S. employees and non-U.S. pension plans for certain non-U.S. employees. The principal U.S. defined benefit pension plan was closed to new hires effective January 31, 2001, and benefits for those employed by the Company’s former Life Sciences business were frozen as of that date. Plan benefits were frozen as of March 2003 for those employed by the Company’s former Analytical Instruments business and corporate employees. Plan benefits were frozen as of January 31, 2011 for all remaining employees that were still actively accruing in the plan. The plans provide benefits that are based on an employee’s years of service and compensation near retirement. Net periodic pension cost for U.S. and non-U.S. plans included the following components for fiscal years ended: January 2, January 3, December 29, (In thousands) Service and administrative costs $ 5,174 $ 7,414 $ 6,598 Interest cost 9,440 12,876 16,546 Expected return on plan assets (24,417) (21,786) (24,561) Actuarial (gain) loss (19,514) 20,291 27,134 Curtailment gain — — (1,547) Amortization of prior service credit — — (152) Net periodic pension (credit) cost $ (29,317) $ 18,795 $ 24,018 The Company recognizes actuarial gains and losses, unless an interim remeasurement is required, in the fourth quarter of the year in which the gains and losses occur. Such adjustments for gains and losses are primarily driven by events and circumstances beyond the Company's control, including changes in interest rates, the performance of the financial markets and mortality assumptions. Actuarial gains and losses, including other components of periodic pension cost, are recognized in the line item "Interest and other expense, net" in the consolidated statements of operations. The following table sets forth the changes in the funded status of the principal U.S. pension plan and the principal non-U.S. pension plans and the amounts recognized in the Company’s consolidated balance sheets as of January 2, 2022 and January 3, 2021. January 2, 2022 January 3, 2021 Non-U.S. U.S. Non-U.S. U.S. (In thousands) Actuarial present value of benefit obligations: Accumulated benefit obligations $ 337,454 $ 299,826 $ 392,948 $ 317,679 Change in benefit obligations: Projected benefit obligations at beginning of year $ 395,339 $ 317,679 $ 341,455 $ 304,710 Service and administrative costs 4,924 250 5,314 2,100 Interest cost 2,632 6,808 3,991 8,885 Benefits paid and plan expenses (15,299) (18,693) (15,823) (20,510) Participants’ contributions — — 37 — Business acquisitions — — (120) — Actuarial (gains) losses (30,705) (6,218) 35,910 22,494 Effect of exchange rate changes (17,501) — 24,575 — Projected benefit obligations at end of year $ 339,390 $ 299,826 $ 395,339 $ 317,679 Change in plan assets: Fair value of plan assets at beginning of year $ 204,744 $ 268,686 $ 179,860 $ 254,450 Actual return on plan assets (13,115) 20,123 25,153 34,746 Benefits paid and plan expenses (15,299) (18,693) (15,823) (20,510) Employer’s contributions 6,851 20,000 7,506 — Participants’ contributions — — 37 — Effect of exchange rate changes (1,992) — 8,011 — Fair value of plan assets at end of year $ 181,189 $ 290,116 $ 204,744 $ 268,686 Net liabilities recognized in the consolidated balance sheets $ (158,201) $ (9,710) $ (190,595) $ (48,993) Net amounts recognized in the consolidated balance sheets consist of: Other assets $ 33,084 $ — $ 36,295 $ — Current liabilities (6,966) — (7,597) — Long-term liabilities (184,319) (9,710) (219,293) (48,993) Net liabilities recognized in the consolidated balance sheets $ (158,201) $ (9,710) $ (190,595) $ (48,993) Actuarial assumptions as of the year-end measurement date: Discount rate 1.41 % 2.44 % 0.92 % 2.21 % Rate of compensation increase 2.78 % None 2.78 % None Actuarial assumptions used to determine net periodic pension cost during the year were as follows: January 2, 2022 January 3, 2021 December 29, 2019 Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Discount rate 0.92 % 2.21 % 1.34 % 3.01 % 2.07 % 4.05 % Rate of compensation increase 2.78 % None 3.36 % None 3.48 % None Expected rate of return on assets 2.10 % 7.25 % 2.20 % 7.25 % 5.30 % 7.25 % The following table provides a breakdown of the non-U.S. benefit obligations and fair value of assets for pension plans that have benefit obligations in excess of plan assets: January 2, January 3, (In thousands) Pension Plans with Projected Benefit Obligations in Excess of Plan Assets Projected benefit obligations $ 191,285 $ 226,890 Fair value of plan assets — — Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets Accumulated benefit obligations $ 189,349 $ 224,499 Fair value of plan assets — — Assets of the defined benefit pension plans are primarily equity and debt securities. Asset allocations as of January 2, 2022 and January 3, 2021, and target asset allocations for fiscal year 2022 are as follows: Target Allocation Percentage of Plan Assets at January 1, 2023 January 2, 2022 January 3, 2021 Asset Category Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Equity securities 0-5% 40-60% — % 46 % — % 45 % Debt securities 0-5% 40-60% — % 54 % 88 % 55 % Other 95-100% 0-10% 100 % — % 12 % — % Total 100 % 100 % 100 % 100 % 100 % 100 % The Company maintains target allocation percentages among various asset classes based on investment policies established for the pension plans which are designed to maximize the total rate of return (income and appreciation) after inflation within the limits of prudent risk taking, while providing for adequate near-term liquidity for benefit payments. The Company’s expected rate of return on assets assumptions are derived from management’s estimates, as well as other information compiled by management, including studies that utilize customary procedures and techniques. The studies include a review of anticipated future long-term performance of individual asset classes and consideration of the appropriate asset allocation strategy given the anticipated requirements of the plans to determine the average rate of earnings expected on the funds invested to provide for the pension plans benefits. While the study gives appropriate consideration to recent fund performance and historical returns, the assumption is primarily a long-term, prospective rate. The Company's discount rate assumptions are derived from a range of factors, including a yield curve for certain plans, composed of the rates of return on high-quality fixed-income corporate bonds available at the measurement date and the related expected duration for the obligations, and a bond matching approach for certain plans. The target allocations for plan assets are listed in the above table. Equity securities primarily include investments in large-cap and mid-cap companies located in the United States and abroad, and equity index funds. Debt securities include corporate bonds of companies from diversified industries, high-yield bonds, and U.S. government securities. Other types of investments include investments in non-U.S. government index linked bonds, multi-strategy hedge funds and venture capital funds that follow several different strategies. The fair value of the Company’s pension plan assets as of January 2, 2022 and January 3, 2021 by asset category, classified in the three levels of inputs described in Note 20 to the consolidated financial statements are as follows: Fair Value Measurements at January 2, 2022 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Cash $ 22,241 $ 22,241 $ — $ — Equity securities: U.S. large-cap 91,601 91,601 — — International large-cap value 29,803 29,803 — — Emerging markets growth 12,603 12,603 — — Foreign real estate funds — — — — Fixed income securities: Corporate and U.S. debt instruments 133,727 41,725 92,002 — Short-term corporate bonds 15,650 — 15,650 — Other types of investments: Foreign liability driven instrument 165,680 — — 165,680 Total assets measured at fair value $ 471,305 $ 197,973 $ 107,652 $ 165,680 Fair Value Measurements at January 3, 2021 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Cash $ 6,363 $ 6,363 $ — $ — Equity Securities: U.S. large-cap 78,234 78,234 — — International large-cap value 28,315 28,315 — — Emerging markets growth 13,594 13,594 — — Foreign real estate funds 23,259 — — 23,259 Fixed income securities: Non-U.S. Treasury Securities 106,315 — 106,315 — Corporate and U.S. debt instruments 140,349 43,500 96,849 — Corporate bonds 35,816 — 35,816 — High yield bond funds 2,954 2,954 — — Other types of investments: Non-U.S. government index linked bonds 38,231 — 38,231 — Total assets measured at fair value $ 473,430 $ 172,960 $ 277,211 $ 23,259 Valuation Techniques: Valuation techniques utilized need to maximize the use of observable inputs and minimize the use of unobservable inputs. There have been no changes in the methodologies utilized at January 2, 2022 compared to January 3, 2021. The following is a description of the valuation techniques utilized to measure the fair value of the assets shown in the table above. Equity Securities: Shares of registered investment companies that are publicly traded are categorized as Level 1 assets; they are valued at quoted market prices that represent the net asset value of the fund. These instruments have active markets. Equity index funds are mutual funds that are not publicly traded and are comprised primarily of underlying equity securities that are publicly traded on exchanges. Price quotes for the assets held by these funds are readily observable and available. Equity index funds are categorized as Level 2 assets. Fixed Income Securities: Fixed income mutual funds that are publicly traded are valued at quoted market prices that represent the net asset value of securities held by the fund and are categorized as Level 1 assets. Fixed income index funds that are not publicly traded are stated at net asset value as determined by the issuer of the fund based on the fair value of the underlying investments and are categorized as Level 2 assets. Individual fixed income bonds are categorized as Level 2 assets except where sufficient quoted prices exist in active markets, in which case such securities are categorized as Level 1 assets. These securities are valued using third-party pricing services. These services may use, for example, model-based pricing methods that utilize observable market data as inputs. Broker dealer bids or quotes of securities with similar characteristics may also be used. Other Types of Investments: Non-U.S. government index link bond funds are not publicly traded and are stated at net asset value as determined by the issuer of the fund based on the fair value of the underlying investments. Underlying investments consist of bonds in which payment of income on the principal is related to a specific price index and are categorized as Level 2 assets. Hedge funds, private equity funds, foreign real estate funds and venture capital funds are valued at fair value by using the net asset values provided by the investment managers and are updated, if necessary, using analytical procedures, appraisals, public market data and/or inquiry of the investment managers. The net asset values are determined based upon the fair values of the underlying investments in the funds. These other investments invest primarily in readily available marketable securities and allocate gains, losses, and expense to the investor based on the ownership percentage as described in the fund agreements. They are categorized as Level 3 assets. In September 2021, the Company’s UK pension scheme executed a buy-in contract with Phoenix Life LTD (''Phoenix"), under which the Company made an upfront payment to Phoenix in exchange for Phoenix agreeing to make the benefit payments under the Company’s UK pension scheme due to specified participants and their beneficiaries, thus transferring most of the investment and longevity risk associated with the covered participants and beneficiaries from the Company to Phoenix. This buy-in contract can be considered a liability-driven investment (''LDI") solution that hedges not only the investment risk but also the longevity risk under the Company’s UK pension scheme. Like other LDI solutions, it does not eliminate ongoing administrative costs . The Company's policy is to recognize significant transfers between levels at the actual date of the event. A reconciliation of the beginning and ending Level 3 assets for fiscal years 2021, 2020 and 2019 is as follows: Fair Value Measurements Using Foreign liability driven investment Foreign Multi-strategy Total (In thousands) Balance at December 30, 2018 $ — $ 22,196 $ 16,934 $ 39,130 Sales — — (15,586) (15,586) Realized gains — — 4,175 4,175 Unrealized gains (losses) — 492 (3,802) (3,310) Balance at December 29, 2019 — 22,688 1,721 24,409 Sales — — (1,721) (1,721) Unrealized gains — 571 — 571 Balance at January 3, 2021 — 23,259 — 23,259 Sales — (23,115) — (23,115) Realized losses — (226) — (226) Realized gains — 82 — 82 Purchases 165,680 — — 165,680 Balance at January 2, 2022 $ 165,680 $ — $ — $ 165,680 With respect to plans outside of the United States, the Company expects to contribute $7.0 million in the aggregate during fiscal year 2022. During fiscal years 2021, 2020 and 2019, the Company contributed $6.9 million, $7.5 million and $8.2 million in the aggregate, respectively, to pension plans outside of the United States. During fiscal year 2021, the Company contributed $20.0 million to its defined benefit pension plan in the United States for the plan year 2019. The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: Non-U.S. U.S. (In thousands) 2022 $ 12,538 $ 19,419 2023 12,791 19,459 2024 13,461 19,427 2025 13,504 19,368 2026 13,898 19,184 2027-2031 68,663 90,272 The Company also sponsors a supplemental executive retirement plan to provide senior management with benefits in excess of normal pension benefits. Effective July 31, 2000, this plan was closed to new entrants. At January 2, 2022 and January 3, 2021, the projected benefit obligations were $24.1 million and $25.9 million, respectively. Assets with a fair value of $1.6 million and $1.9 million, segregated in a trust (which is included in marketable securities and investments on the consolidated balance sheets), were available to meet this obligation as of January 2, 2022 and January 3, 2021, respectively. Pension expenses and income for this plan netted to expense of $0.2 million in fiscal year 2021, expense of $2.1 million in fiscal year 2020 and expense of $4.8 million in fiscal year 2019. Postretirement Medical Plans: The Company provides healthcare benefits for eligible retired U.S. employees under a comprehensive major medical plan or under health maintenance organizations where available. Eligible U.S. employees qualify for retiree health benefits if they retire directly from the Company and have at least ten years of service. Generally, the major medical plan pays stated percentages of covered expenses after a deductible is met and takes into consideration payments by other group coverage and by Medicare. The plan requires retiree contributions under most circumstances and has provisions for cost-sharing charges. Effective January 1, 2000, this plan was closed to new hires. For employees retiring after 1991, the Company has capped its medical premium contribution based on employees’ years of service. The Company funds the amount allowable under a 401(h) provision in the Company’s defined benefit pension plan. Assets of the plan are primarily equity and debt securities and are available only to pay retiree health benefits. The costs of these plans are not material and the net assets in the plans totaled $20.7 million and $19.0 million at January 2, 2022 and January 3, 2021, respectively. Deferred Compensation Plans: During fiscal year 1998, the Company implemented a nonqualified deferred compensation plan that provides benefits payable to officers and certain key employees or their designated beneficiaries at specified future dates, or upon retirement or death. The plan was amended to eliminate deferral elections, with the exception of Company 401(k) excess contributions for eligible participants, for plan years beginning January 1, 2011. Benefit payments under the plan are funded by contributions from participants, and for certain participants, contributions by the Company. The obligations related to the deferred compensation plan totaled $0.3 million and $0.6 million as of January 2, 2022 and January 3, 2021, respectively. |
Contingencies
Contingencies | 12 Months Ended |
Jan. 02, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies The Company is conducting a number of environmental investigations and remedial actions at current and former locations of the Company and, along with other companies, has been named a potentially responsible party (“PRP”) for certain waste disposal sites. The Company accrues for environmental issues in the accounting period that the Company's responsibility is established and when the cost can be reasonably estimated. The Company has accrued $11.9 million and $12.9 million as of January 2, 2022 and January 3, 2021, respectively, in accrued expenses and other current liabilities, which represents its management’s estimate of the cost of the remediation of known environmental matters, and does not include any potential liability for related personal injury or property damage claims. The Company's environmental accrual is not discounted and does not reflect the recovery of any material amounts through insurance or indemnification arrangements. The cost estimates are subject to a number of variables, including the stage of the environmental investigations, the magnitude of the possible contamination, the nature of the potential remedies, possible joint and several liability, the time period over which remediation may occur, and the possible effects of changing laws and regulations. For sites where the Company has been named a PRP, management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute. The Company expects that the majority of such accrued amounts could be paid out over a period of up to ten years. As assessment and remediation activities progress at each individual site, these liabilities are reviewed and adjusted to reflect additional information as it becomes available. There have been no environmental problems to date that have had, or are expected to have, a material adverse effect on the Company’s consolidated financial statements. While it is possible that a loss exceeding the amounts recorded in the consolidated financial statements may be incurred, the potential exposure is not expected to be materially different from those amounts recorded. The Company is subject to various claims, legal proceedings and investigations covering a wide range of matters that arise in the ordinary course of its business activities. Although the Company has established accruals for potential losses that it believes are probable and reasonably estimable, in the opinion of the Company’s management, based on its review of the information available at this time, the total cost of resolving these contingencies at January 2, 2022 should not have a material adverse effect on the Company’s consolidated financial statements. However, each of these matters is subject to uncertainties, and it is possible that some of these matters may be resolved unfavorably to the Company. |
Stock Plans
Stock Plans | 12 Months Ended |
Jan. 02, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Stock Plans | Stock Plans Stock-Based Compensation: The Company’s 2019 Incentive Plan (the “2019 Plan”) authorizes the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, other stock-based awards and cash awards as part of the Company’s compensation programs. The 2019 Plan replaced the Company’s 2009 Incentive Plan (the “2009 Plan”). Upon shareholder approval of the 2019 Plan, 6.25 million shares of the Company’s common stock, as well as shares of the Company’s common stock previously granted under the 2009 Plan that expire, terminate or are otherwise surrendered, canceled, forfeited or repurchased by the Company at their original issuance price subject to a contractual repurchase right, became available for grant under the 2019 Plan. Awards granted under the 2009 Plan prior to its expiration remain outstanding. As part of the Company’s compensation programs, the Company also offers shares of its common stock under its Employee Stock Purchase Plan. The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock options, restricted stock, restricted stock units, performance restricted stock units, performance units and stock grants, included in the Company’s consolidated statements of operations for fiscal years 2021, 2020 and 2019: January 2, January 3, December 29, (In thousands) Cost of product and service revenue $ 3,706 $ 1,388 $ 1,620 Research and development expenses 2,759 1,228 1,061 Selling, general and administrative expenses 26,315 26,510 28,833 Total stock-based compensation expense $ 32,780 $ 29,126 $ 31,514 The total income tax benefit recognized in the consolidated statements of operations for stock-based compensation was $14.0 million in fiscal year 2021, $17.2 million in fiscal year 2020 and $11.6 million in fiscal year 2019. Stock-based compensation costs capitalized as part of inventory were immaterial in all periods presented. Stock Options: The Company has granted options to purchase common shares at prices equal to the market price of the common shares on the date the option is granted. Conditions of vesting are determined at the time of grant. Options are generally exercisable in equal annual installments over a period of three years, and will generally expire seven years after the date of grant. Options replaced in association with business combination transactions are generally issued with the same terms of the respective plans under which they were originally issued. The fair value of each option grant is estimated using the Black-Scholes option pricing model. The fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs. Expected volatility was calculated based on the historical and implied volatility of the Company’s stock. The average expected life was based on the contractual term of the option and historic exercise experience. The risk-free interest rate is based on United States Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of grant. The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows for the fiscal years ended: January 2, January 3, December 29, Risk-free interest rate 0.9 % 0.9 % 2.5 % Expected dividend yield 0.2 % 0.3 % 0.3 % Expected lives 5 years 5 years 5 years Expected stock volatility 27.3 % 23.8 % 22.8 % The following table summarizes stock option activity for the fiscal year ended January 2, 2022: Number Weighted- (Shares in thousands) Outstanding at beginning of year 961 $ 74.40 Granted 625 159.65 Exercised (359) 70.44 Forfeited (35) 107.70 Outstanding at end of year 1,192 $ 119.33 Exercisable at end of year 383 $ 70.27 The aggregate intrinsic value for stock options outstanding at January 2, 2022 was $97.4 million with a weighted-average remaining contractual term of 5.1 years. The aggregate intrinsic value for stock options exercisable at January 2, 2022 was $50.1 million with a weighted-average remaining contractual term of 3.0 years. At January 2, 2022, there were 1.2 million stock options that were vested and expected to vest in the future, with an aggregate intrinsic value of $97.4 million and a weighted-average remaining contractual term of 5.1 years. The weighted-average grant-date fair value of options granted during fiscal years 2021, 2020 and 2019 was $40.00, $18.98, and $22.63 per share, respectively. The total intrinsic value of options exercised during fiscal years 2021, 2020 and 2019 was $32.4 million, $51.1 million, and $19.1 million, respectively. Cash received from option exercises for fiscal years 2021, 2020 and 2019 was $25.1 million, $37.7 million, and $19.7 million, respectively. The total compensation expense recognized related to the Company’s outstanding options was $6.3 million in fiscal year 2021, $3.6 million in fiscal year 2020 and $6.7 million in fiscal year 2019. There was $22.5 million of total unrecognized compensation cost related to nonvested stock options granted as of January 2, 2022. This cost is expected to be recognized over a weighted-average period of 2.5 years. Restricted Stock Awards: The Company has awarded shares of restricted stock and restricted stock units to certain employees and non-employee directors at no cost to them, which cannot be sold, assigned, transferred or pledged during the restriction period. The restricted stock and restricted stock units vest through the passage of time, assuming continued employment. The fair value of the award at the time of the grant is expensed on a straight line basis primarily in selling, general and administrative expenses over the vesting period, which is generally 3 years. Recipients of the restricted stock have the right to vote such shares and receive dividends. The following table summarizes restricted stock award activity for the fiscal year ended January 2, 2022: Number Weighted- (Shares in thousands) Nonvested at beginning of year 296 $ 85.67 Granted 508 159.60 Vested (140) 82.93 Forfeited (27) 99.56 Nonvested at end of year 637 $ 144.62 The fair value of restricted stock awards vested during fiscal years 2021, 2020 and 2019 was $11.6 million, $14.0 million, and $12.0 million, respectively. The total compensation expense recognized related to the restricted stock awards was $18.8 million in fiscal year 2021, $10.8 million in fiscal year 2020 and $12.7 million in fiscal year 2019. As of January 2, 2022, there was $72.3 million of total unrecognized compensation cost, related to nonvested restricted stock awards. That cost is expected to be recognized over a weighted-average period of 1.9 years. Employee Stock Purchase Plan: In April 1999, the Company’s shareholders approved the 1998 Employee Stock Purchase Plan. In April 2005, the Compensation and Benefits Committee of the Company's Board of Directors (the "Board") voted to amend the Employee Stock Purchase Plan, effective July 1, 2005, whereby participating employees have the right to purchase common stock at a price equal to 95% of the closing price on the last day of each six-month offering period. The number of shares which an employee may purchase, subject to certain aggregate limits, is determined by the employee’s voluntary contribution, which may not exceed 10% of the employee’s base compensation. During fiscal year 2021, the Company issued 21,578 shares of common stock under the Company’s Employee Stock Purchase Plan at a weighted-average price of $168.11 per share. During fiscal year 2020, the Company issued 38,727 shares under this plan at a weighted-average price of $105.23 per share. During fiscal year 2019, the Company issued 33,843 shares under this plan at a weighted-average price of $82.25 per share. At January 2, 2022 there remains available for sale to employees an aggregate of 0.8 million shares of the Company’s common stock out of the 5.0 million shares authorized by shareholders for issuance under this plan. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jan. 02, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Comprehensive Income: The components of accumulated other comprehensive (loss) income consisted of the following: Foreign Unrecognized Unrealized Accumulated (In thousands) Balance, December 30, 2018 $ (176,459) $ 245 $ (267) $ (176,481) Current year change (23,978) 807 6 (23,165) Balance, December 29, 2019 (200,437) 1,052 (261) (199,646) Current year change 169,500 (1,799) (16) 167,685 Balance, January 3, 2021 (30,937) (747) (277) (31,961) Current year change (130,873) (95) 237 (130,731) Balance, January 2, 2022 $ (161,810) $ (842) $ (40) $ (162,692) During fiscal years 2021, 2020 and 2019, pre-tax pension credit (cost) of $0.1 million, $(1.8) million, and $0.8 million, respectively, was reclassified from accumulated other comprehensive income into selling, general and administrative expenses as a component of net periodic pension cost. Stock Repurchases: On July 31, 2020, the Board authorized the Company to repurchase shares of common stock for an aggregate amount up to $250.0 million under a stock repurchase program (the "Repurchase Program"). The Repurchase Program will expire on July 27, 2022 unless terminated earlier by the Board and may be suspended or discontinued at any time. During fiscal year 2021, the Company repurchased 433,000 shares of common stock under the Repurchase Program at an aggregate cost of $62.6 million. As of January 2, 2022, $187.4 million remained available for aggregate repurchases of shares under the Repurchase Program. In addition, the Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to the Company's equity incentive plans. During fiscal year 2021, the Company repurchased 71,248 shares of common stock for this purpose at an aggregate cost of $10.5 million. During fiscal year 2020, the Company repurchased 72,251 shares of common stock for this purpose at an aggregate cost of $6.9 million. During fiscal year 2019, the Company repurchased 68,536 shares of common stock for this purpose at an aggregate cost of $6.3 million. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value. Dividends: The Board declared a regular quarterly cash dividend of $0.07 per share in each quarter of fiscal years 2021 and 2020. At January 2, 2022, the Company had accrued $8.8 million for a dividend declared in October 2021 for the fourth quarter of fiscal year 2021 that was paid in February 2022. On January 27, 2022, the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the first quarter of fiscal year 2022 that will be payable in May 2022. In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources. |
Derivatives And Hedging Activit
Derivatives And Hedging Activities | 12 Months Ended |
Jan. 02, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Company uses derivative instruments as part of its risk management strategy only, and includes derivatives utilized as economic hedges that are not designated as hedging instruments. By nature, all financial instruments involve market and credit risks. The Company enters into derivative instruments with major investment grade financial institutions and has policies to monitor the credit risk of those counterparties. The Company does not enter into derivative contracts for trading or other speculative purposes, nor does the Company use leveraged financial instruments. Approximately 60% of the Company’s business is conducted outside of the United States, generally in foreign currencies. As a result, fluctuations in foreign currency exchange rates can increase the costs of financing, investing and operating the business. In the ordinary course of business, the Company enters into foreign exchange contracts for periods consistent with its committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies. The intent of these economic hedges is to offset gains and losses that occur on the underlying exposures from these currencies, with gains and losses resulting from the forward currency contracts that hedge these exposures. Transactions covered by hedge contracts include intercompany and third-party receivables and payables. The contracts are primarily in European and Asian currencies, have maturities that do not exceed 12 months, have no cash requirements until maturity, and are recorded at fair value on the Company’s consolidated balance sheets. The unrealized gains and losses on the Company’s foreign currency contracts are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from operating activities within the Company’s consolidated statements of cash flows. Principal hedged currencies include the Australian Dollar, British Pound, Euro, Indian Rupee, Singapore Dollar and Swedish Krona. The Company held forward foreign exchange contracts, designated as economic hedges, with U.S. dollar equivalent notional amounts totaling $371.9 million at January 2, 2022, $808.0 million at January 3, 2021, and $277.6 million at December 29, 2019, and the fair value of these foreign currency derivative contracts was insignificant. The gains and losses realized on these foreign currency derivative contracts are not material. The duration of these contracts was generally 30 days or less during each of fiscal years 2021, 2020 and 2019. In addition, in connection with certain intercompany loan agreements utilized to finance its acquisitions and stock repurchase program, the Company enters into forward foreign exchange contracts intended to hedge movements in foreign exchange rates prior to settlement of such intercompany loans denominated in foreign currencies. The Company records these hedges at fair value on the Company’s consolidated balance sheets. The unrealized gains and losses on these hedges, as well as the gains and losses associated with the remeasurement of the intercompany loans, are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from financing activities within the Company’s consolidated statements of cash flows. The outstanding forward exchange contracts designated as economic hedges, which were intended to hedge movements in foreign exchange rates prior to the settlement of certain intercompany loan agreements, included combined U.S. Dollar notional amounts of $360.2 million as of January 2, 2022, combined Euro notional amounts of €33.4 million and combined U.S. Dollar notional amounts of $499.0 million as of January 3, 2021, and combined Euro notional amounts of €105.8 million and combined U.S. Dollar notional amounts of $5.6 million as of December 29, 2019. The net gains and losses on these derivatives, combined with the gains and losses on the remeasurement of the hedged intercompany loans were not material. During fiscal year 2018, the Company designated a portion of the 2026 Notes to hedge its investments in certain foreign subsidiaries. Unrealized translation adjustments from a portion of the 2026 Notes were included in the foreign currency translation component of AOCI, which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. As of January 2, 2022, the total notional amount of the 2026 Notes that was designated to hedge investments in foreign subsidiaries was €497.2 million. The unrealized foreign exchange (gains) losses recorded in AOCI related to the net investment hedge were $(33.2) million, $49.6 million and $(4.9) million during the fiscal years 2021, 2020 and 2019, respectively. During fiscal year 2019, the Company entered into a cross-currency swap designated as a net investment hedge to hedge the Euro currency exposure of the Company’s net investment in certain foreign subsidiaries. This agreement is a contract to exchange fixed-rate payments in one currency for fixed-rate payments in another currency. Changes in the fair value of this swap are recorded in equity as a component of AOCI in the same manner as foreign currency translation adjustments. In assessing the effectiveness of this hedge, the Company uses a method based on changes in spot rates to measure the impact of the foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related swap. Under this method, changes in the fair value of the hedging instrument other than those due to changes in the spot rate are initially recorded in AOCI as a translation adjustment, and then are amortized into other (income) expense, net in the consolidated statement of operations using a systematic and rational method over the instrument’s term. Changes in the fair value associated with the effective portion (i.e. those changes due to the spot rate) are recorded in AOCI as a translation adjustment and are released and recognized in earnings only upon the sale or liquidation of the hedged net investment. The cross-currency swap had an initial notional value of €197.4 million or $220.0 million and matured on November 15, 2021. Interest on the cross-currency swap was payable semi-annually, in Euro, on May 15th and November 15th of each year based on the Euro notional value and a fixed rate of 2.47%. The Company received interest in U.S. dollars on May 15th and November 15th of each year based on the U.S. dollar equivalent of the Euro notional value and a fixed rate of 5.00%. During fiscal year 2020, the Company entered into forward foreign exchange contracts, designated as cash flow hedges, to hedge the 2021 Notes. The effective portion of the gain or loss of the cash flow hedges were reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction affected earnings. During the second quarter of fiscal year 2021, the Company redeemed all of its outstanding 2021 Notes and settled the forward foreign exchange contracts that were designated as cash flow hedges. The foreign exchange losses (gains) recorded in earnings related to the cash flow hedges were $9.5 million and $(29.3) million d ur ing the fiscal years 2021 and 2020, respectively. During fiscal year 2021, the Company entered into forward foreign exchange contracts, designated as cash flow hedges, to hedge a portion of the 2026 Notes. The effective portion of the gain or loss of the cash flow hedges will be reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction affects earnings. During the fourth quarter of fiscal year 2021, the Company settled the forward foreign exchange contracts that were designated as cash flow hedges. The foreign exchange loss recorded in earnings related to the cash flow hedges was $8.7 million during fiscal year 2021. During fiscal year 2021, the Company entered into two interest rate swaption agreements (together, the “Swaptions”) with expiration dates of September 30, 2021 in anticipation of issuing notes to fund the acquisition of BioLegend. The first Swaption had a term of 2 months and hedged an anticipated 10-year note offering, with a notional value of $500.0 million. The second Swaption had a term of 2 months and hedged an anticipated 7-year note offering, with a notional value of $500.0 million. The Company designated the Swaptions as qualifying hedging instruments and accounted for these derivatives as cash flow hedges. On September 8, 2021, the Company sold both Swaptions, and as a result, recognized a loss of $8.2 million in interest and other expense, net during the fiscal year 2021. The Company also recorded other comprehensive income of $3.8 million, which will be amortized to interest and other expense, net over the 7 and 10 year terms, respectively, of the related permanent financing. The Company does not expect any material net pre-tax gains or losses to be reclassified from accumulated other comprehensive (loss) income into interest and other expense, net within the next twelve months. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 02, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents, derivatives, marketable securities and accounts receivable. The Company believes it had no significant concentrations of credit risk as of January 2, 2022. The Company’s financial assets and liabilities carried at fair value are primarily comprised of marketable securities, derivative contracts used to hedge the Company’s currency risk, and acquisition related contingent consideration. The Company has not elected to measure any additional financial instruments or other items at fair value. Valuation Hierarchy: The following summarizes the three levels of inputs required to measure fair value. For Level 1 inputs, the Company utilizes quoted market prices as these instruments have active markets. For Level 2 inputs, the Company utilizes quoted market prices in markets that are not active, broker or dealer quotations, or utilizes alternative pricing sources with reasonable levels of price transparency. For Level 3 inputs, the Company utilizes unobservable inputs based on the best information available, including estimates by management primarily based on information provided by third-party fund managers, independent brokerage firms and insurance companies. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of January 2, 2022 and January 3, 2021 classified in one of the three classifications described above: Fair Value Measurements at January 2, 2022 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Marketable securities $ 53,073 $ 53,073 $ — $ — Foreign exchange derivative assets 3,765 — 3,765 — Foreign exchange derivative liabilities (3,463) — (3,463) — Contingent consideration (57,996) — — (57,996) Fair Value Measurements at January 3, 2021 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Marketable securities $ 2,154 $ 2,154 $ — $ — Foreign exchange derivative assets 31,248 — 31,248 — Foreign exchange derivative liabilities (21,413) — (21,413) — Contingent consideration (2,953) — — (2,953) Level 1 and Level 2 Valuation Techniques: The Company’s Level 1 and Level 2 assets and liabilities are comprised of investments in equity and fixed-income securities as well as derivative contracts. For financial assets and liabilities that utilize Level 1 and Level 2 inputs, the Company utilizes both direct and indirect observable price quotes, including common stock price quotes, foreign exchange forward prices and bank price quotes. Below is a summary of valuation techniques for Level 1 and Level 2 financial assets and liabilities. Marketable securities: Include equity and fixed-income securities measured at fair value using the quoted market prices in active markets at the reporting date. Foreign exchange derivative assets and liabilities: Include foreign exchange derivative contracts that are valued using quoted forward foreign exchange prices at the reporting date. The Company’s foreign exchange derivative contracts are subject to master netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled under these arrangements have been presented in the Company's consolidated balance sheet on a net basis and are recorded in other assets. As of both January 2, 2022 and January 3, 2021, none of the master netting arrangements involved collateral. Level 3 Valuation Techniques: The Company’s Level 3 liabilities are comprised of contingent consideration related to acquisitions. For liabilities that utilize Level 3 inputs, the Company uses significant unobservable inputs. Below is a summary of valuation techniques for Level 3 liabilities. Contingent consideration: Contingent consideration is measured at fair value at the acquisition date using projected milestone dates, discount rates, probabilities of success and projected revenues (for revenue-based considerations). Projected risk-adjusted contingent payments are discounted back to the current period using a discounted cash flow model. The fair values of contingent consideration are calculated on a quarterly basis based on a collaborative effort of the Company’s regulatory, research and development, operations, finance and accounting groups, as appropriate. Potential valuation adjustments are made as additional information becomes available, including the progress towards achieving proof of concept, regulatory approvals and revenue targets as compared to initial projections, the impact of market competition and market landscape shifts from non-invasive prenatal testing products, with the impact of such adjustments being recorded in the consolidated statements of operations. As of January 2, 2022, the Company may have to pay contingent consideration, related to acquisitions with open contingency periods that are substantially all revenue-based consideration, of up to $108.4 million. The expected maximum earnout period for acquisitions with open contingency period does not exceed 6.9 years from January 2, 2022, and the remaining weighted average expected earnout period at January 2, 2022 was 5.4 years. A reconciliation of the beginning and ending Level 3 net liabilities for contingent consideration is as follows: (In thousands) Balance at December 30, 2018 $ (69,661) Additions (12,734) Amounts paid and foreign currency translation 50,795 Change in fair value (included within selling, general and administrative expenses) (3,881) Balance at December 29, 2019 (35,481) Amounts paid and foreign currency translation 23,701 Change in fair value (included within selling, general and administrative expenses) 8,827 Balance at January 3, 2021 (2,953) Additions (57,431) Amounts paid and foreign currency translation 5,507 Change in fair value (included within selling, general and administrative expenses) (3,119) Balance at January 2, 2022 $ (57,996) The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturities of these assets and liabilities. If measured at fair value, cash and cash equivalents would be classified as Level 1. The Company's outstanding senior unsecured notes had an aggregate fair value of $4,612.8 million and aggregate carrying value of $4,479.5 million as of January 2, 2022. The Company's outstanding senior unsecured notes had an aggregate fair value of $1,984.3 million and aggregate carrying value of $1,811.5 million as of January 3, 2021. The fair values of the outstanding senior unsecured notes were estimated using market quotes from brokers and were based on current rates offered for similar debt, which are Level 2 measurements. The Company’s other debt facilities, including the Company's senior revolving credit facility and term loan facility, had an aggregate carrying value of $504.5 million and $179.1 million as of January 2, 2022 and January 3, 2021, respectively. The carrying value approximates fair value and were classified as Level 2. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Jan. 02, 2022 | |
Disclosure Text Block [Abstract] | |
Leases [Text Block] | Leases Lessee Disclosures The Company leases certain property and equipment under operating and finance leases. The Company's leases have remaining lease terms of less than 1 year to 30 years, some of which include options to extend the lease for up to 5 years, and some of which include options to terminate the lease within 1 year. Finance leases are not material to the Company. The components of lease expense were as follows: January 2, January 3, December 29, (In thousands) Lease Cost: Operating lease cost $ 54,639 $ 56,977 61,205 Supplemental cash flow information related to leases was as follows: January 2, January 3, December 29, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 53,455 $ 47,427 $ 50,155 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 18,694 $ 5,048 $ 5,685 Supplemental balance sheet information related to leases was as follows: January 2, January 3, (In thousands, except lease term and discount rate) Operating Leases: Operating lease right-of-use assets $ 207,775 $ 207,236 Operating lease liabilities included in Accrued expenses and other current liabilities $ 40,567 $ 40,330 Operating lease liabilities 185,359 188,402 Total operating lease liabilities $ 225,926 $ 228,732 Weighted Average Remaining Lease Term in Years Operating leases 7.6 8.1 Weighted Average Remaining Discount Rate Operating leases 2.6% 2.9% Lease costs from finance leases, short-term leases, variable lease costs and sub-lease income are not material. Future payments of operating lease liabilities as of January 2, 2022 were as follows: (In thousands) 2022 $ 47,910 2023 38,072 2024 31,624 2025 27,899 2026 24,279 2027 and thereafter 73,967 Total lease payments 243,751 Less imputed interest (17,825) Total $ 225,926 Lessor Disclosures |
Industry Segment and Geographic
Industry Segment and Geographic Area Information | 12 Months Ended |
Jan. 02, 2022 | |
Segment Reporting [Abstract] | |
Industry Segment Information | Industry Segment and Geographic Area Information The Company discloses information about its operating segments based on the way that management organizes the segments within the Company for making operating decisions and assessing financial performance. The Company evaluates the performance of its operating segments based on revenue and operating income. Intersegment revenue and transfers are not significant. The accounting policies of the operating segments are the same as those described in Note 1. The principal products and services of the Company's two operating segments are: • Discovery & Analytical Solutions . Provides products and services targeted towards the life sciences and applied markets. • Diagnostics . Develops diagnostics, tools and applications focused on clinically-oriented customers, especially within the reproductive health, emerging market diagnostics and applied genomics markets. The Diagnostics segment serves the diagnostics market. The Company has included the expenses for its corporate headquarters, such as legal, tax, audit, human resources, information technology, and other management and compliance costs, as well as the activity related to the mark-to-market adjustment on postretirement benefit plans, as “Corporate” below. The Company has a process to allocate and recharge expenses to the reportable segments when these costs are administered or paid by the corporate headquarters based on the extent to which the segment benefited from the expenses. These amounts have been calculated in a consistent manner and are included in the Company’s calculations of segment results to internally plan and assess the performance of each segment for all purposes, including determining the compensation of the business leaders for each of the Company’s operating segments. Revenue and operating income (loss) from continuing operations by operating segment are shown in the table below for the fiscal years ended: January 2, January 3, December 29, (In thousands) Discovery & Analytical Solutions Product revenue $ 1,358,484 $ 995,216 $ 1,054,862 Service revenue 776,746 720,587 691,299 Total revenue 2,135,230 1,715,803 1,746,161 Operating income from continuing operations (1) 189,798 183,471 238,331 Diagnostics Product revenue 1,970,618 1,783,509 962,180 Service revenue 961,321 283,433 175,332 Total revenue 2,931,939 2,066,942 1,137,512 Operating income from continuing operations (1)(2) 1,219,944 874,206 189,330 Corporate Operating loss from continuing operations (3) (77,364) (79,096) (65,688) Continuing Operations Product revenue 3,329,102 2,778,725 2,017,042 Service revenue 1,738,067 1,004,020 866,631 Total revenue 5,067,169 3,782,745 2,883,673 Operating income from continuing operations 1,332,378 978,581 361,973 Interest and other expense, net 52,492 72,217 124,831 Income from continuing operations before income taxes $ 1,279,886 $ 906,364 $ 237,142 ____________________________ (1) Legal costs for significant litigation matters and settlements in the Company's Discovery & Analytical Solutions segment were $5.9 million and $2.2 million for fiscal years 2020 and 2019, respectively. Legal costs for significant litigation matters and settlements in the Company's Diagnostics segment were $0.1 million, $1.2 million and $0.1 million for fiscal years 2021, 2020 and 2019, respectively. (2) Asset impairment in the Company's Diagnostics segment was $3.9 million and $7.9 million for fiscal years 2021 and 2020. (3) Costs for significant environmental matters were $5.2 million for fiscal year 2020. Stock compensation expense from acceleration of executive compensation was $7.7 million for fiscal year 2019. Additional information relating to the Company’s reporting segments is as follows for the three fiscal years ended January 2, 2022: Depreciation and Amortization Expense Capital Expenditures January 2, January 3, December 29, January 2, January 3, December 29, (In thousands) (In thousands) Discovery & Analytical Solutions $ 141,261 $ 93,516 $ 74,445 $ 41,686 $ 20,217 $ 27,778 Diagnostics 214,178 149,738 136,476 57,206 55,236 46,863 Corporate 2,565 3,253 3,104 996 2,053 1,690 Continuing operations $ 358,004 $ 246,507 $ 214,025 $ 99,888 $ 77,506 $ 76,331 Total Assets January 2, January 3, December 29, (In thousands) Discovery & Analytical Solutions $ 10,177,834 $ 3,600,860 $ 3,082,917 Diagnostics 4,692,816 4,228,943 3,368,598 Corporate 129,904 130,512 87,049 Total assets $ 15,000,554 $ 7,960,315 $ 6,538,564 The following geographic area information for continuing operations includes revenue based on location of external customers for the three fiscal years ended January 2, 2022 and net long-lived assets based on physical location as of January 2, 2022 and January 3, 2021: Revenue January 2, January 3, December 29, (In thousands) U.S. $ 2,046,914 $ 1,269,293 $ 974,187 International: China 670,084 492,283 581,688 United Kingdom 417,199 362,591 70,703 Other international 1,932,972 1,658,578 1,257,095 Total international 3,020,255 2,513,452 1,909,486 Total sales $ 5,067,169 $ 3,782,745 $ 2,883,673 Net Long-Lived Assets (1) January 2, January 3, (In thousands) U.S. $ 343,723 $ 197,755 International: Germany 148,048 149,105 China 79,851 75,199 Other international 256,956 229,099 Total international 484,855 453,403 Total net long-lived assets $ 828,578 $ 651,158 (1) Long-lived assets consist of property and equipment, net, operating lease right-of-use assets, rental equipment, software and other long-term assets. |
Nature of Operations and Acco_2
Nature of Operations and Accounting Policies Nature of Operations and Accounting Policies (Policies) | 12 Months Ended |
Jan. 02, 2022 | |
Accounting Policies [Abstract] | |
Consolidation [Policy Text Block] | The consolidated financial statements include the accounts of PerkinElmer, Inc. and its subsidiaries (the “Company”). All intercompany balances and transactions have been eliminated in consolidation. |
Fiscal Periods [Policy Text Block] | The Company's fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. Each of the fiscal years ended January 2, 2022 ("fiscal year 2021") and December 29, 2019 ("fiscal year 2019") included 52 weeks. The fiscal year ended January 3, 2021 ("fiscal year 2020") included 53 weeks. |
Accounting Policies and Estimates [Policy Text Block] | Accounting Policies and Estimates: The preparation of consolidated financial statements in accordance with United States (“U.S.”) Generally Accepted Accounting Principles (“GAAP”) requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. |
Revenue Recognition [Policy Text Block] | Revenue Recognition: |
Warranty Costs [Policy Text Block] | Warranty Costs: The Company provides for estimated warranty costs for products at the time of their sale. Warranty liabilities are estimated using expected future repair costs based on historical labor and material costs incurred during the warranty period. Warranty costs were not material in the periods presented. |
Inventories [Policy Text Block] | Inventories : Inventories, which include material, labor and manufacturing overhead, are valued at the lower of cost or market. Inventories are accounted for using the first-in, first-out method of determining inventory costs. Inventory quantities on-hand are regularly reviewed, and where necessary, provisions for excess and obsolete inventory are recorded based primarily on the Company’s estimated forecast of product demand and production requirements. |
Income Taxes [Policy Text Block] | Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits such as net operating loss carryforwards, to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established for any deferred tax asset for which realization is not more likely than not. The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. These reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized following resolution of any potential contingencies present |
Property, Plant and Equipment [Policy Text Block] | Property, Plant and Equipment: The Company depreciates property, plant and equipment using the straight-line method over its estimated useful lives, which generally fall within the following ranges: buildings- 10 to 40 years; leasehold improvements - estimated useful life or remaining term of lease, whichever is shorter; and machinery and equipment- 3 to 8 years. Certain tooling costs are capitalized and amortized over a 3-year life, while repairs and maintenance costs are expensed. |
Change in Accounting for Pension and Other Postretirement Benefits [Policy Text Block] | Pension and Other Postretirement Benefits: The Company sponsors both funded and unfunded U.S. and non-U.S. defined benefit pension plans and other postretirement benefits. The Company immediately recognizes actuarial gains and losses in operating results in the year in which the gains and losses occur. Actuarial gains and losses are measured annually as of the calendar month-end that is closest to the Company's fiscal year end and accordingly will be recorded in the fourth quarter, unless the Company is required to perform an interim remeasurement. The remaining components of pension expense, primarily service and interest costs and assumed return on plan assets, are recorded on a quarterly basis. The Company’s funding policy provides that payments to the U.S. pension trusts shall at least be equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974. Non-U.S. plans are accrued for, but generally not fully funded, and benefits are paid from operating funds. |
Translation of Foreign Currencies [Policy Text Block] | Translation of Foreign Currencies: For foreign operations, asset and liability accounts are translated at current exchange rates; income and expenses are translated using weighted average exchange rates for the reporting period. Resulting translation adjustments, as well as translation gains and losses from certain intercompany transactions considered permanent in nature, are reported in accumulated other comprehensive income ("AOCI"), a separate component of stockholders’ equity. Gains and losses arising from transactions and translation of period-end balances denominated in currencies other than the functional currency are included in other expense, net |
Business Combinations [Policy Text Block] | Business Combinations: Business combinations are accounted for at fair value. Acquisition costs are expensed as incurred and recorded in selling, general and administrative expenses. Measurement period adjustments are made in the period in which the amounts are determined and the current period income effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date. All changes that do not qualify as measurement period adjustments are also included in current period earnings. The accounting for business combinations requires estimates and judgment as to expectations for future cash flows of the acquired business, and the allocation of those cash flows to identifiable intangible assets, in determining the estimated fair value for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed, including contingent consideration, are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If the actual results differ from the estimates and judgments used in these estimates, the amounts recorded in the financial statements could result in a possible impairment of the intangible assets and goodwill, require acceleration of the amortization expense of finite-lived intangible assets, or the recognition of additional consideration which would be expensed. |
Goodwill and Other Intangible Assets [Policy Text Block] | Goodwill and Other Intangible Assets: The Company’s intangible assets consist of (i) goodwill, which is not being amortized; (ii) indefinite lived intangibles, which consist of a trade name that is not subject to amortization; and (iii) amortizing intangibles, which consist of patents, trade names and trademarks, licenses, customer relationships and purchased technologies, which are being amortized over their estimated useful lives. The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill. This annual impairment assessment is performed by the Company on the later of January 1 or the first day of each fiscal year. Indefinite-lived intangibles are also subject to an annual impairment test. The impairment test consists of a comparison of the fair value of the indefinite-lived intangible asset with its carrying amount. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of the amortizing intangible asset . Amortizing intangible assets are reviewed for impairment when indicators of impairment are present. When a potential impairment has been identified, forecasted undiscounted net cash flows of the operations to which the asset relates are compared to the current carrying value of the long-lived assets present in that operation. If such cash flows are less than such carrying amounts, long-lived assets, including such intangibles, are written down to their respective fair values. |
Stock-Based Compensation [Policy Text Block] | Stock-Based Compensation: The Company accounts for stock-based compensation expense based on estimated grant date fair value, generally using the Black-Scholes option-pricing model. The fair value is recognized as expense in the consolidated financial statements over the requisite service period. The determination of fair value and the timing of expense using option |
Marketable Securities and Investments [Policy Text Block] | Marketable Securities and Investments: Investments in debt securities that are classified as available for sale are recorded at fair value with unrealized gains and losses included in accumulated other comprehensive (loss) income until realized. Investments in equity securities are recorded at their fair values with unrealized holding gains and losses included in earnings. Investments in equity securities without a readily determinable fair value are carried at cost minus impairment, if any. |
Cash Flows [Policy Text Block] | Cash and Cash Equivalents: The Company considers all highly liquid, unrestricted instruments with a purchased maturity of three months or less to be cash equivalents. The carrying amount of cash equivalents approximates fair value due to the short maturities of these instruments. |
Environmental Matters [Policy Text Block] | Environmental Matters: The Company accrues for costs associated with the remediation of environmental pollution when it is probable that a liability has been incurred and the Company’s proportionate share of the amount can be reasonably estimated. The recorded liabilities have not been discounted. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development: Research and development costs are expensed as incurred. In-process research and development ("IPR&D") costs acquired in a business combination are recorded at fair value as an intangible asset at the acquisition date and amortized once the product is ready for sale or expensed if abandoned. |
Restructuring Charges [Policy Text Block] | Restructuring and Other Costs: Generally, costs associated with an exit or disposal activity are recognized when the liability is incurred. Prior to recording restructuring charges for employee separation agreements, the Company notifies all employees of termination. Costs related to employee separation arrangements requiring future service beyond a specified minimum retention period are recognized over the service period. |
New Accounting Pronouncement or Change in Accounting Principle, Description | Comprehensive Income: Comprehensive income is defined as net income or loss and other changes in stockholders’ equity from transactions and other events from sources other than stockholders. Comprehensive income is reflected in the consolidated statements of comprehensive income. |
Derivative Instruments and Hedging [Policy Text Block] | Derivative Instruments and Hedging: Derivatives are recorded on the consolidated balance sheets at fair value. Accounting for gains or losses resulting from changes in the values of those derivatives depends on the use of the derivative instrument and whether it qualifies for hedge accounting. For a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income and subsequently amortized into net earnings when the hedged exposure affects net earnings. Cash flow hedges related to anticipated transactions are designated and documented at the inception of each hedge by matching the terms of the contract to the underlying transaction. The Company classifies the cash flows from hedging transactions in the same categories as the cash flows from the respective hedged items. Once established, cash flow hedges are generally recorded in other comprehensive income, unless an anticipated transaction is no longer likely to occur, and subsequently amortized into net earnings when the hedged exposure affects net earnings. Discontinued or dedesignated cash flow hedges are immediately settled with counterparties, and the related accumulated derivative gains or losses are recognized into net earnings on the consolidated financial statements. Settled cash flow hedges related to forecasted transactions that remain probable are recorded as a component of other comprehensive (loss) income and are subsequently amortized into net earnings when the hedged exposure affects net earnings. Forward contract effectiveness for cash flow hedges is calculated by comparing the fair value of the contract to the change in value of the anticipated transaction using forward rates on a monthly basis. The Company also has entered into other foreign currency forward contracts that are not designated as hedging instruments for accounting purposes. These contracts are recorded at fair value, with the changes in fair value recognized into interest and other expense, net on the consolidated financial statements. The Company also uses foreign currency denominated debt to hedge its investments in certain foreign subsidiaries. Realized and unrealized translation adjustments from these hedges are included in the foreign currency translation component of AOCI, as well as the offset translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. Leases: Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities in the Company's consolidated balance sheet. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities were recognized based on the present value of the remaining lease payments over the lease term. When the Company's lease did not provide an implicit rate, the Company used its incremental borrowing rate in determining the present value of lease payments. The Company used the implicit rate when readily determinable. The operating lease ROU asset excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, such as cars, the Company accounts for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has made an accounting policy election not to recognize ROU assets and lease liabilities that arise from short-term leases for facilities and equipment. Instead, the Company recognizes the lease payments in the consolidated statements of operations on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. As a lessor, the Company applies the practical expedient to not separate non-lease components from the associated lease component and instead accounts for those components as a single component if the non-lease components otherwise would be accounted for under ASC 606, Revenue From Contracts With Customers (“ASC 606”), and both of the following criteria are met: 1) the timing and pattern of transfer of the non-lease component or components and associated lease component are the same; and 2) the lease component, if accounted for separately, would be classified as an operating lease. If the non-lease component or components associated with the lease component are the predominant component of the combined component, the Company accounts for the combined component in accordance with ASC 606. Otherwise, the Company accounts for the combined component as an operating lease in accordance with ASC 842. |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Recently Issued Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the "FASB") and are adopted by the Company as of the specified effective dates. Unless otherwise discussed, such pronouncements did not have or will not have a significant impact on the Company’s consolidated financial position, results of operations and cash flows or do not apply to the Company’s operations. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). ASU 2019-12 eliminates certain exceptions and adds guidance to reduce complexity in accounting for income taxes. Specifically, this guidance: (1) removes the intraperiod tax allocation exception to the incremental approach; (2) removes the ownership changes in investments exception in determining when a deferred tax liability is recognized after an investor in a foreign entity transitions to or from the equity method of accounting and applies this provision on a modified retrospective basis through a cumulative-effect adjustment to retained earnings at the beginning of the period of adoption; and (3) removes the exception to using the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies accounting principles by making other changes, including requiring an entity to: (1) evaluate whether a step-up in tax basis of goodwill relates to a business combination or a separate transaction; (2) make a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and to apply this provision retrospectively to all periods presented; and (3) recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and apply this provision either retrospectively for all periods presented or on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. The provisions of this guidance (except as specifically mentioned above) are to be applied prospectively upon their effective date. The Company adopted the guidance beginning on January 4, 2021. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. |
Business Combinations and Ass_2
Business Combinations and Asset Purchases (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Business Acquisition [Line Items] | |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information presents the combined financial results for the Company and BioLegend as if the acquisition of BioLegend had been completed at the beginning of fiscal year 2020: January 2, January 3, (In thousands, except per share data) Pro Forma Statements of Operations Information: Revenue $ 5,295,483 $ 4,024,631 Income from continuing operations 1,001,109 551,572 Basic earnings per share: Income from continuing operations $ 7.69 $ 4.39 Diluted earnings per share: Income from continuing operations $ 7.66 $ 4.37 |
Fair Values of the Business Combinations and Allocations for the Acquisitions Completed | The total purchase price for the acquisitions in fiscal year 2021 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: Preliminary BioLegend Other (In thousands) Fair value of business combination: Cash payments $ 3,336,115 $ 1,128,584 Common stock issued 2,638,369 — Other liability 6,857 2,910 Contingent consideration — 57,431 Working capital and other adjustments — 183 Less: cash acquired (292,377) (195,010) Total $ 5,688,964 $ 994,098 Identifiable assets acquired and liabilities assumed: Current assets $ 184,704 $ 72,826 Property, plant and equipment 147,200 26,507 Other assets 9,330 15,564 Identifiable intangible assets: Core technology and clone library 782,400 299,699 Trade names and patents 38,000 39,620 Licenses 8,979 — Customer relationships and backlog 1,714,800 141,170 Goodwill 3,510,710 547,388 Deferred taxes (668,920) (83,931) Deferred revenue — (1,197) Debt assumed — (4,628) Liabilities assumed (38,239) (58,920) Total $ 5,688,964 $ 994,098 The total purchase price for the acquisitions in fiscal year 2020 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: (In thousands) Fair value of business combination: Cash payments $ 437,661 Other liability 1,660 Working capital and other adjustments (384) Less: cash acquired (26,840) Total $ 412,097 Identifiable assets acquired and liabilities assumed: Current assets $ 35,532 Property, plant and equipment 20,302 Other assets 18,114 Identifiable intangible assets: Core technology 65,730 Trade names 5,580 Customer relationships and backlog 108,523 IPR&D 10,700 Goodwill 221,751 Deferred taxes (25,674) Deferred revenue (2,031) Liabilities assumed (46,430) Total $ 412,097 The total purchase price for the acquisitions in fiscal year 2019 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows: (In thousands) Fair value of business combination: Cash payments $ 409,837 Other liability 7,084 Contingent consideration 12,734 Working capital and other adjustments 3,401 Less: cash acquired (15,984) Total $ 417,072 Identifiable assets acquired and liabilities assumed: Current assets $ 62,756 Property, plant and equipment 11,840 Other assets 626 Identifiable intangible assets: Core technology 153,267 Trade names 11,210 Customer relationships 101,500 Goodwill 169,108 Deferred taxes (63,113) Debt assumed (3,404) Liabilities assumed (26,718) Total $ 417,072 |
Revenue from Contract with Cu_2
Revenue from Contract with Customer (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | In the following tables, revenue is disaggregated by primary geographical market, end-markets and timing of revenue recognition. Reportable Segments For the fiscal year ended January 2, 2022 January 3, 2021 December 29, 2019 Discovery & Analytical Solutions Diagnostics Total Discovery & Analytical Solutions Diagnostics Total Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 876,367 $ 1,362,213 $ 2,238,580 $ 695,960 $ 750,641 $ 1,446,601 $ 717,205 $ 401,591 $ 1,118,796 Europe 599,886 982,476 1,582,362 490,789 864,687 1,355,476 495,768 291,610 $ 787,378 Asia 658,977 587,250 1,246,227 529,054 451,614 980,668 533,188 444,311 $ 977,499 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 Primary end-markets Diagnostics $ — $ 2,931,939 $ 2,931,939 $ — $ 2,066,942 $ 2,066,942 $ — $ 1,137,512 $ 1,137,512 Life sciences 1,337,340 — 1,337,340 1,032,209 — 1,032,209 977,200 — $ 977,200 Applied markets 797,890 — 797,890 683,594 — 683,594 768,961 — $ 768,961 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 Timing of revenue recognition Products and services transferred at a point in time $ 1,595,245 $ 2,285,836 $ 3,881,081 $ 1,195,249 $ 1,891,482 $ 3,086,731 $ 1,276,499 $ 1,053,974 $ 2,330,473 Services transferred over time 539,985 646,103 1,186,088 520,554 175,460 696,014 469,662 83,538 553,200 $ 2,135,230 $ 2,931,939 $ 5,067,169 $ 1,715,803 $ 2,066,942 $ 3,782,745 $ 1,746,161 $ 1,137,512 $ 2,883,673 |
Restructuring and Contract Term
Restructuring and Contract Terminaiton Charges, Net (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The following table summarizes the number of employees reduced, the initial restructuring or contract termination charges by operating segment, and the dates by which payments were substantially completed, or the expected dates by which payments will be substantially completed, for restructuring actions implemented during fiscal years 2021, 2020 and 2019 in continuing operations: Workforce Reductions Closure of Excess Facility Total (Expected) Date Payments Substantially Completed by Headcount Reduction Diagnostics Discovery & Analytical Solutions Diagnostics Discovery & Analytical Solutions Severance Excess Facility (In thousands, except headcount data) Q4 2021 Plan 31 $ 77 $ 3,139 $ — $ 150 $ 3,366 Q3 FY2022 Q1 FY2023 Q3 2021 Plan 39 366 420 — — 786 Q2 FY2022 — Q2 2021 Plan 25 564 968 — — 1,532 Q1 FY2022 — Q1 2021 Plan 77 1,615 3,941 — — 5,556 Q4 FY2021 — Q3 2020 Plan 23 901 2,080 — — 2,981 Q2 FY2021 — Q1 2020 Plan 32 1,134 2,312 682 92 4,220 Q4 FY2020 Q1 FY2022 Q4 2019 Plan 22 2,404 177 — — 2,581 Q3 FY2020 — Q3 2019 Plan 259 2,641 11,156 — — 13,797 Q2 FY2020 — Q2 2019 Plan 44 1,129 4,461 — — 5,590 Q1 FY2020 — Q1 2019 Plan 105 1,459 6,001 — — 7,460 Q4 FY2019 — |
Income Taxes (Tables)
Income Taxes (Tables) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 02, 2022 | Jan. 03, 2021 | |
Income Tax Disclosure [Abstract] | ||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The components of income from continuing operations before income taxes were as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) U.S. $ 562,704 $ 183,452 $ 29,252 Non-U.S. 717,182 722,912 207,890 Total $ 1,279,886 $ 906,364 $ 237,142 | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The components of the provision for income taxes on continuing operations were as follows: Current Deferred Total (In thousands) Fiscal year ended January 2, 2022 Federal $ 150,621 $ (37,551) $ 113,070 State 62,381 3,508 65,889 Non-U.S. 172,943 (15,299) 157,644 Total $ 385,945 $ (49,342) $ 336,603 Fiscal year ended January 3, 2021 Federal $ 21,262 $ 15,951 $ 37,213 State 13,688 (967) 12,721 Non-U.S. 172,437 (44,105) 128,332 Total $ 207,387 $ (29,121) $ 178,266 Fiscal year ended December 29, 2019 Federal $ 3,735 $ (267) $ 3,468 State 4,425 (1,574) 2,851 Non-U.S. 62,582 (59,512) 3,070 Total $ 70,742 $ (61,353) $ 9,389 | |
Schedule of Income Tax Expense (Benefit), Continuing Operations and Discontinued Operations [Table Text Block] | The total provision for income taxes included in the consolidated financial statements is as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) Continuing operations $ 336,603 $ 178,266 $ 9,389 Discontinued operations 126 135 195 Total $ 336,729 $ 178,401 $ 9,584 | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of income tax expense at the U.S. federal statutory income tax rate to the recorded tax provision is as follows for the fiscal years ended: January 2, January 3, December 29, (In thousands) Tax at statutory rate $ 268,776 $ 190,339 $ 49,799 Non-U.S. rate differential, net (34,676) (40,216) (32,124) U.S. taxation of multinational operations 9,731 9,050 4,251 State income taxes, net 37,907 13,306 1,941 Prior year tax matters 3,068 8,262 (5,103) Effect of stock compensation (2,961) (8,818) (2,053) General business tax credits (4,277) (4,136) (4,325) Change in valuation allowance 3,070 10 (1,117) Rate change on long term intangibles 14,031 — — Effect of foreign operations 37,147 — — Foreign consolidations — 15,222 — Tax elections — — (3,700) Impact of U.S. Tax Act — — 2,718 Others, net 4,787 (4,753) (898) Total $ 336,603 $ 178,266 $ 9,389 | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences and attributes that gave rise to deferred income tax assets and liabilities were as follows: January 2, January 3, (In thousands) Deferred tax assets: Inventory $ 3,152 $ 4,788 Reserves and accruals 56,085 51,107 Accrued compensation 30,352 20,881 Net operating loss and credit carryforwards 113,787 131,884 Accrued pension 23,801 34,192 Restructuring reserve 1,442 1,579 Deferred revenue 49,431 29,838 Operating lease liabilities 37,936 42,220 Unrealized foreign exchange loss 14,631 21,614 All other, net 631 — Total deferred tax assets 331,248 338,103 Deferred tax liabilities: Postretirement health benefits (5,303) (8,168) Depreciation and amortization (1,037,637) (355,876) Operating lease right-of-use assets (34,111) (38,598) Prepaids (3,263) (4,160) Deferred tax liability on foreign earnings (31,239) — Total deferred tax liabilities (1,111,553) (406,802) Valuation allowance (91,503) (99,740) Net deferred tax liabilities $ (871,808) $ (168,439) | |
Schedule of Deferred Income Taxes, Domestic and Foreign [Table Text Block] | The components of net deferred tax liabilities were as follows: January 2, January 3, (In thousands) U.S. $ (621,449) $ 50,302 Non-U.S. (250,359) (218,741) Total $ (871,808) $ (168,439) | |
Components of net deferred tax asset recognized [Table Text Block] | The components of net deferred tax liabilities were recognized in the consolidated balance sheets as follows: January 2, January 3, (In thousands) Other assets, net $ 22,007 $ 65,518 Deferred taxes and other long-term liabilities (893,815) (233,957) Total $ (871,808) $ (168,439) | |
Deferred tax assets, other assets, net | $ 22,007 | $ 65,518 |
Deferred tax liabilities, Long-term liabilities | (893,815) | (233,957) |
Deferred Tax Liabilities, Net | $ (871,808) | $ (168,439) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Reconciliation of Number of Shares Utilized in Earnings Per Share Calculations | The following table reconciles the number of shares utilized in the earnings per share calculations for the fiscal years ended: January 2, January 3, December 29, (In thousands) Number of common shares—basic 116,165 111,514 110,827 Effect of dilutive securities: Stock options 391 466 541 Restricted stock awards 118 105 133 Number of common shares—diluted 116,674 112,085 111,501 Number of potentially dilutive securities excluded from calculation due to antidilutive impact 487 220 364 |
Accounts Receivable, Net Accoun
Accounts Receivable, Net Accounts Receivable, Net (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Accounts receivable, net consisted of the following: January 2, January 3, (In thousands) Accounts receivable, net, current $ 1,023,792 $ 1,155,109 Long-term accounts receivable, net, included in Other assets, net 30,303 22,510 Total accounts receivable, net $ 1,054,095 $ 1,177,619 |
Accounts Receivable, Allowance for Credit Loss | Reserves for credit losses consisted of the following: Balance at Provisions Charges/ Other (1) Balance (In thousands) Year ended December 29, 2019 $ 30,590 $ 6,853 $ (3,009) $ 798 $ 35,232 Year ended January 3, 2021 35,232 16,695 (5,857) 1,524 47,594 Year ended January 2, 2022 47,594 8,150 (4,646) 101 51,199 |
Inventories, Net (Tables)
Inventories, Net (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Net Inventories | Inventories consisted of the following: January 2, January 3, (In thousands) Raw materials $ 229,356 $ 205,022 Work in progress 69,744 35,160 Finished goods 325,614 274,385 Total inventories $ 624,714 $ 514,567 |
Property, Plant and Equipment_2
Property, Plant and Equipment, Net (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment consisted of the following: January 2, January 3, (In thousands) At cost: Land $ 29,793 $ 3,937 Building and leasehold improvements 428,322 291,526 Machinery and equipment 608,658 522,734 Total property, plant and equipment 1,066,773 818,197 Accumulated depreciation (521,168) (449,893) Total property, plant and equipment, net $ 545,605 $ 368,304 |
Marketable Securities and Inv_2
Marketable Securities and Investments (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Marketable Securities [Abstract] | |
Schedule of Investments, Noncurrent [Table Text Block] | Investments consisted of the following: January 2, January 3, (In thousands) Marketable securities $ 53,073 $ 2,154 Equity investments 31,514 48,626 $ 84,587 $ 50,780 |
Equity Securities without Readily Determinable Fair Value | Equity investments without readily determinable fair values as of January 2, 2022 and January 3, 2021 consisted of the following: January 2, January 3, (In thousands) Equity investments, carried at cost minus impairment, if any $ 30,176 $ 27,438 Equity investments, carried at fair value 1,338 21,188 $ 31,514 $ 48,626 |
Marketable Securities Classified as Available for Sale [Table Text Block] | Marketable securities classified as available for sale consisted of the following: Market Value Gross Unrealized Holding Cost Gains (Losses) (In thousands) January 2, 2022 Equity securities $ 51,418 $ 51,418 $ — $ — Fixed-income securities 7 7 — — Other 1,648 1,711 — (63) $ 53,073 $ 53,136 $ — $ (63) January 3, 2021 Equity securities $ 203 $ 584 $ — $ (381) Fixed-income securities 7 7 — — Other 1,944 2,007 — (63) $ 2,154 $ 2,598 $ — $ (444) |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for fiscal years 2021 and 2020 are as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Balance at December 29, 2019 $ 1,498,820 $ 1,612,407 $ 3,111,227 Foreign currency translation 58,086 62,596 120,682 Acquisitions, earnouts and other 198,981 16,224 215,205 Balance at January 3, 2021 1,755,887 1,691,227 3,447,114 Foreign currency translation (51,963) (40,557) (92,520) Acquisitions, earnouts and other 3,742,310 319,680 4,061,990 Balance at January 2, 2022 $ 5,446,234 $ 1,970,350 $ 7,416,584 |
Identifiable Intangible Asset Balances | Identifiable intangible asset balances at January 2, 2022 by category and segment were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Patents $ 28,324 $ 2,709 $ 31,033 Less: Accumulated amortization (27,961) (732) (28,693) Net patents 363 1,977 2,340 Trade names and trademarks 91,300 79,683 170,983 Less: Accumulated amortization (40,472) (21,969) (62,441) Net trade names and trademarks 50,828 57,714 108,542 Licenses 59,477 8,410 67,887 Less: Accumulated amortization (50,347) (3,968) (54,315) Net licenses 9,130 4,442 13,572 Core technology 1,314,313 519,864 1,834,177 Less: Accumulated amortization (285,477) (208,833) (494,310) Net core technology 1,028,836 311,031 1,339,867 Customer relationships 2,311,599 884,105 3,195,704 Less: Accumulated amortization (307,367) (366,058) (673,425) Net customer relationships 2,004,232 518,047 2,522,279 IPR&D 5,920 — 5,920 Net amortizable intangible assets 3,099,309 893,211 3,992,520 Indefinite-lived intangible asset: Trade name 70,584 — 70,584 Total $ 3,169,893 $ 893,211 $ 4,063,104 Identifiable intangible asset balances at January 3, 2021 by category and segment were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Patents $ 28,146 $ 2,709 $ 30,855 Less: Accumulated amortization (27,933) (507) (28,440) Net patents 213 2,202 2,415 Trade names and trademarks 51,143 47,518 98,661 Less: Accumulated amortization (31,859) (16,947) (48,806) Net trade names and trademarks 19,284 30,571 49,855 Licenses 50,468 8,232 58,700 Less: Accumulated amortization (49,317) (3,135) (52,452) Net licenses 1,151 5,097 6,248 Core technology 456,607 333,192 789,799 Less: Accumulated amortization (232,648) (166,344) (398,992) Net core technology 223,959 166,848 390,807 Customer relationships 475,748 881,912 1,357,660 Less: Accumulated amortization (239,428) (283,392) (522,820) Net customer relationships 236,320 598,520 834,840 IPR&D 10,944 — 10,944 Net amortizable intangible assets 491,871 803,238 1,295,109 Indefinite-lived intangible asset: Trade name 70,584 — 70,584 Total $ 562,455 $ 803,238 $ 1,365,693 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Maturities of Long-term Debt [Table Text Block] | The following table summarizes the maturities of the Company’s indebtedness as of January 2, 2022: 2022 2023 2024 2025 2026 2027 and thereafter Total before unamortized discount and debt issuance costs Unamortized discount and debt issuance costs Total (In thousands) Senior Unsecured Revolving Credit Facility $ — $ — $ — $ — $ — $ — $ — $ (3,362) $ (3,362) Unsecured Term Loan Credit Facility — — 500,000 — — — 500,000 (672) 499,328 2023 Notes — 500,000 — — — — 500,000 (2,245) 497,755 2024 Notes — — 800,000 — — — 800,000 (5,392) 794,608 2026 Notes — — — — 568,600 — 568,600 (4,818) 563,782 2028 Notes — — — — — 500,000 500,000 (4,548) 495,452 2029 Notes — — — — — 850,000 850,000 (8,486) 841,514 March 2031 Notes — — — — — 400,000 400,000 (3,420) 396,580 September 2031 Notes — — — — — 500,000 500,000 (5,865) 494,135 2051 Notes — — — — — 400,000 400,000 (4,339) 395,661 Other Debt Facilities 4,240 2,530 1,277 214 123 140 8,524 — 8,524 Total $ 4,240 $ 502,530 $ 1,301,277 $ 214 $ 568,723 $ 2,650,140 $ 5,027,124 $ (43,147) $ 4,983,977 |
Schedule of Debt | The Company’s debt consisted of the following: January 2, Outstanding Principal Unamortized Debt Discount Unamortized Debt Issuance Costs Net Carrying Amount (In thousands) Long-Term Debt: Senior Unsecured Revolving Credit Facility $ — $ — $ (3,362) $ (3,362) Unsecured Term Loan Credit Facility 500,000 (14) (658) 499,328 0.550% Senior Unsecured Notes due in 2023 500,000 (152) (2,093) 497,755 0.850% Senior Unsecured Notes due in 2024 800,000 (447) (4,945) 794,608 1.875% Senior Unsecured Notes due in 2026 ("2026 Notes") 568,600 (2,538) (2,280) 563,782 1.900% Senior Unsecured Notes due in 2028 500,000 (348) (4,200) 495,452 3.3% Senior Unsecured Notes due in 2029 ("2029 Notes") 850,000 (2,252) (6,234) 841,514 2.55% Senior Unsecured Notes due in 2031 400,000 (126) (3,294) 396,580 2.250% Senior Unsecured Notes due in 2031 500,000 (1,485) (4,380) 494,135 3.625% Senior Unsecured Notes due in 2051 400,000 (4) (4,335) 395,661 Other Debt Facilities, non-current 4,284 — — 4,284 Total Long-Term Debt 5,022,884 (7,366) (35,781) 4,979,737 Current Portion of Long-term Debt: Other Debt Facilities, current 4,240 — — 4,240 Total Debt $ 5,027,124 $ (7,366) $ (35,781) $ 4,983,977 January 3, Outstanding Principal Unamortized Debt Discount Unamortized Debt Issuance Costs Net Carrying Amount (In thousands) Long-Term Debt: Senior Unsecured Revolving Credit Facility $ 158,595 $ — $ (2,621) $ 155,974 2026 Notes 610,750 (3,253) (2,782) 604,715 2029 Notes 850,000 (2,496) (6,908) 840,596 Other Debt Facilities, non-current 8,416 — — 8,416 Total Long-Term Debt 1,627,761 (5,749) (12,311) 1,609,701 Current Portion of Long-term Debt: 0.6% Senior Unsecured Notes due in 2021 ("2021 Notes") 366,450 (16) (229) 366,205 Other Debt Facilities, current 14,743 — — 14,743 Total Current Portion of Long-Term Debt 381,193 (16) (229) 380,948 Total Debt $ 2,008,954 $ (5,765) $ (12,540) $ 1,990,649 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Accounts Payable and Accrued Liabilities, Current [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued expenses and other current liabilities consisted of the following: January 2, January 3, (In thousands) Payroll and incentives $ 106,338 $ 96,502 Employee benefits 54,058 47,489 Deferred revenue 226,331 206,494 Federal, non-U.S. and state income taxes 90,963 97,406 Operating lease liabilities 40,567 40,330 Contract liabilities 77,178 189,718 Other accrued operating expenses 258,611 265,977 Total accrued expenses and other current liabilities $ 854,046 $ 943,916 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) - Pension Plans, Defined Benefit | 12 Months Ended |
Jan. 02, 2022 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Components of Net Periodic Benefit Cost (Credit) | Net periodic pension cost for U.S. and non-U.S. plans included the following components for fiscal years ended: January 2, January 3, December 29, (In thousands) Service and administrative costs $ 5,174 $ 7,414 $ 6,598 Interest cost 9,440 12,876 16,546 Expected return on plan assets (24,417) (21,786) (24,561) Actuarial (gain) loss (19,514) 20,291 27,134 Curtailment gain — — (1,547) Amortization of prior service credit — — (152) Net periodic pension (credit) cost $ (29,317) $ 18,795 $ 24,018 |
Schedule of Net Funded Status | The following table sets forth the changes in the funded status of the principal U.S. pension plan and the principal non-U.S. pension plans and the amounts recognized in the Company’s consolidated balance sheets as of January 2, 2022 and January 3, 2021. January 2, 2022 January 3, 2021 Non-U.S. U.S. Non-U.S. U.S. (In thousands) Actuarial present value of benefit obligations: Accumulated benefit obligations $ 337,454 $ 299,826 $ 392,948 $ 317,679 Change in benefit obligations: Projected benefit obligations at beginning of year $ 395,339 $ 317,679 $ 341,455 $ 304,710 Service and administrative costs 4,924 250 5,314 2,100 Interest cost 2,632 6,808 3,991 8,885 Benefits paid and plan expenses (15,299) (18,693) (15,823) (20,510) Participants’ contributions — — 37 — Business acquisitions — — (120) — Actuarial (gains) losses (30,705) (6,218) 35,910 22,494 Effect of exchange rate changes (17,501) — 24,575 — Projected benefit obligations at end of year $ 339,390 $ 299,826 $ 395,339 $ 317,679 Change in plan assets: Fair value of plan assets at beginning of year $ 204,744 $ 268,686 $ 179,860 $ 254,450 Actual return on plan assets (13,115) 20,123 25,153 34,746 Benefits paid and plan expenses (15,299) (18,693) (15,823) (20,510) Employer’s contributions 6,851 20,000 7,506 — Participants’ contributions — — 37 — Effect of exchange rate changes (1,992) — 8,011 — Fair value of plan assets at end of year $ 181,189 $ 290,116 $ 204,744 $ 268,686 Net liabilities recognized in the consolidated balance sheets $ (158,201) $ (9,710) $ (190,595) $ (48,993) Net amounts recognized in the consolidated balance sheets consist of: Other assets $ 33,084 $ — $ 36,295 $ — Current liabilities (6,966) — (7,597) — Long-term liabilities (184,319) (9,710) (219,293) (48,993) Net liabilities recognized in the consolidated balance sheets $ (158,201) $ (9,710) $ (190,595) $ (48,993) Actuarial assumptions as of the year-end measurement date: Discount rate 1.41 % 2.44 % 0.92 % 2.21 % Rate of compensation increase 2.78 % None 2.78 % None Actuarial assumptions used to determine net periodic pension cost during the year were as follows: January 2, 2022 January 3, 2021 December 29, 2019 Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Discount rate 0.92 % 2.21 % 1.34 % 3.01 % 2.07 % 4.05 % Rate of compensation increase 2.78 % None 3.36 % None 3.48 % None Expected rate of return on assets 2.10 % 7.25 % 2.20 % 7.25 % 5.30 % 7.25 % |
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets [Table Text Block] | The following table provides a breakdown of the non-U.S. benefit obligations and fair value of assets for pension plans that have benefit obligations in excess of plan assets: January 2, January 3, (In thousands) Pension Plans with Projected Benefit Obligations in Excess of Plan Assets Projected benefit obligations $ 191,285 $ 226,890 Fair value of plan assets — — Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets Accumulated benefit obligations $ 189,349 $ 224,499 Fair value of plan assets — — |
Schedule of Allocation of Plan Assets | Assets of the defined benefit pension plans are primarily equity and debt securities. Asset allocations as of January 2, 2022 and January 3, 2021, and target asset allocations for fiscal year 2022 are as follows: Target Allocation Percentage of Plan Assets at January 1, 2023 January 2, 2022 January 3, 2021 Asset Category Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Equity securities 0-5% 40-60% — % 46 % — % 45 % Debt securities 0-5% 40-60% — % 54 % 88 % 55 % Other 95-100% 0-10% 100 % — % 12 % — % Total 100 % 100 % 100 % 100 % 100 % 100 % |
Schedule of Changes in Fair Value of Plan Assets | The fair value of the Company’s pension plan assets as of January 2, 2022 and January 3, 2021 by asset category, classified in the three levels of inputs described in Note 20 to the consolidated financial statements are as follows: Fair Value Measurements at January 2, 2022 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Cash $ 22,241 $ 22,241 $ — $ — Equity securities: U.S. large-cap 91,601 91,601 — — International large-cap value 29,803 29,803 — — Emerging markets growth 12,603 12,603 — — Foreign real estate funds — — — — Fixed income securities: Corporate and U.S. debt instruments 133,727 41,725 92,002 — Short-term corporate bonds 15,650 — 15,650 — Other types of investments: Foreign liability driven instrument 165,680 — — 165,680 Total assets measured at fair value $ 471,305 $ 197,973 $ 107,652 $ 165,680 Fair Value Measurements at January 3, 2021 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Cash $ 6,363 $ 6,363 $ — $ — Equity Securities: U.S. large-cap 78,234 78,234 — — International large-cap value 28,315 28,315 — — Emerging markets growth 13,594 13,594 — — Foreign real estate funds 23,259 — — 23,259 Fixed income securities: Non-U.S. Treasury Securities 106,315 — 106,315 — Corporate and U.S. debt instruments 140,349 43,500 96,849 — Corporate bonds 35,816 — 35,816 — High yield bond funds 2,954 2,954 — — Other types of investments: Non-U.S. government index linked bonds 38,231 — 38,231 — Total assets measured at fair value $ 473,430 $ 172,960 $ 277,211 $ 23,259 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | A reconciliation of the beginning and ending Level 3 assets for fiscal years 2021, 2020 and 2019 is as follows: Fair Value Measurements Using Foreign liability driven investment Foreign Multi-strategy Total (In thousands) Balance at December 30, 2018 $ — $ 22,196 $ 16,934 $ 39,130 Sales — — (15,586) (15,586) Realized gains — — 4,175 4,175 Unrealized gains (losses) — 492 (3,802) (3,310) Balance at December 29, 2019 — 22,688 1,721 24,409 Sales — — (1,721) (1,721) Unrealized gains — 571 — 571 Balance at January 3, 2021 — 23,259 — 23,259 Sales — (23,115) — (23,115) Realized losses — (226) — (226) Realized gains — 82 — 82 Purchases 165,680 — — 165,680 Balance at January 2, 2022 $ 165,680 $ — $ — $ 165,680 |
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows: Non-U.S. U.S. (In thousands) 2022 $ 12,538 $ 19,419 2023 12,791 19,459 2024 13,461 19,427 2025 13,504 19,368 2026 13,898 19,184 2027-2031 68,663 90,272 |
Stock Plans (Tables)
Stock Plans (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Total Compensation Recognized Related to Outstanding Equity Awards | The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock options, restricted stock, restricted stock units, performance restricted stock units, performance units and stock grants, included in the Company’s consolidated statements of operations for fiscal years 2021, 2020 and 2019: January 2, January 3, December 29, (In thousands) Cost of product and service revenue $ 3,706 $ 1,388 $ 1,620 Research and development expenses 2,759 1,228 1,061 Selling, general and administrative expenses 26,315 26,510 28,833 Total stock-based compensation expense $ 32,780 $ 29,126 $ 31,514 |
Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model | The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows for the fiscal years ended: January 2, January 3, December 29, Risk-free interest rate 0.9 % 0.9 % 2.5 % Expected dividend yield 0.2 % 0.3 % 0.3 % Expected lives 5 years 5 years 5 years Expected stock volatility 27.3 % 23.8 % 22.8 % |
Summary of Stock Option Activity | The following table summarizes stock option activity for the fiscal year ended January 2, 2022: Number Weighted- (Shares in thousands) Outstanding at beginning of year 961 $ 74.40 Granted 625 159.65 Exercised (359) 70.44 Forfeited (35) 107.70 Outstanding at end of year 1,192 $ 119.33 Exercisable at end of year 383 $ 70.27 |
Summary of Restricted Stock Award Activity | The following table summarizes restricted stock award activity for the fiscal year ended January 2, 2022: Number Weighted- (Shares in thousands) Nonvested at beginning of year 296 $ 85.67 Granted 508 159.60 Vested (140) 82.93 Forfeited (27) 99.56 Nonvested at end of year 637 $ 144.62 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Stockholders' Equity Note [Abstract] | |
Components of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive (loss) income consisted of the following: Foreign Unrecognized Unrealized Accumulated (In thousands) Balance, December 30, 2018 $ (176,459) $ 245 $ (267) $ (176,481) Current year change (23,978) 807 6 (23,165) Balance, December 29, 2019 (200,437) 1,052 (261) (199,646) Current year change 169,500 (1,799) (16) 167,685 Balance, January 3, 2021 (30,937) (747) (277) (31,961) Current year change (130,873) (95) 237 (130,731) Balance, January 2, 2022 $ (161,810) $ (842) $ (40) $ (162,692) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis | The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of January 2, 2022 and January 3, 2021 classified in one of the three classifications described above: Fair Value Measurements at January 2, 2022 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Marketable securities $ 53,073 $ 53,073 $ — $ — Foreign exchange derivative assets 3,765 — 3,765 — Foreign exchange derivative liabilities (3,463) — (3,463) — Contingent consideration (57,996) — — (57,996) Fair Value Measurements at January 3, 2021 Using: Total Carrying Quoted Prices in Significant Other Significant (In thousands) Marketable securities $ 2,154 $ 2,154 $ — $ — Foreign exchange derivative assets 31,248 — 31,248 — Foreign exchange derivative liabilities (21,413) — (21,413) — Contingent consideration (2,953) — — (2,953) |
Reconciliation of Beginning and Ending Level 3 Net Liabilities | A reconciliation of the beginning and ending Level 3 net liabilities for contingent consideration is as follows: (In thousands) Balance at December 30, 2018 $ (69,661) Additions (12,734) Amounts paid and foreign currency translation 50,795 Change in fair value (included within selling, general and administrative expenses) (3,881) Balance at December 29, 2019 (35,481) Amounts paid and foreign currency translation 23,701 Change in fair value (included within selling, general and administrative expenses) 8,827 Balance at January 3, 2021 (2,953) Additions (57,431) Amounts paid and foreign currency translation 5,507 Change in fair value (included within selling, general and administrative expenses) (3,119) Balance at January 2, 2022 $ (57,996) |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | The components of lease expense were as follows: January 2, January 3, December 29, (In thousands) Lease Cost: Operating lease cost $ 54,639 $ 56,977 61,205 |
Supplemental Cash Flow Information Related To Leases [Table Text Block] | Supplemental cash flow information related to leases was as follows: January 2, January 3, December 29, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 53,455 $ 47,427 $ 50,155 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 18,694 $ 5,048 $ 5,685 |
Supplemental Balance Sheet Information Related To Leases [Table Text Block] | upplemental balance sheet information related to leases was as follows: January 2, January 3, (In thousands, except lease term and discount rate) Operating Leases: Operating lease right-of-use assets $ 207,775 $ 207,236 Operating lease liabilities included in Accrued expenses and other current liabilities $ 40,567 $ 40,330 Operating lease liabilities 185,359 188,402 Total operating lease liabilities $ 225,926 $ 228,732 Weighted Average Remaining Lease Term in Years Operating leases 7.6 8.1 Weighted Average Remaining Discount Rate Operating leases 2.6% 2.9% Lease costs from finance leases, short-term leases, variable lease costs and sub-lease income are not material. |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | ayments of operating lease liabilities as of January 2, 2022 were as follows: (In thousands) 2022 $ 47,910 2023 38,072 2024 31,624 2025 27,899 2026 24,279 2027 and thereafter 73,967 Total lease payments 243,751 Less imputed interest (17,825) Total $ 225,926 |
Industry Segment and Geograph_2
Industry Segment and Geographic Area Information (Tables) | 12 Months Ended |
Jan. 02, 2022 | |
Segment Reporting [Abstract] | |
Schedule of Sales and Operating Income by Operating Segment, Excluding Discontinued Operations | Revenue and operating income (loss) from continuing operations by operating segment are shown in the table below for the fiscal years ended: January 2, January 3, December 29, (In thousands) Discovery & Analytical Solutions Product revenue $ 1,358,484 $ 995,216 $ 1,054,862 Service revenue 776,746 720,587 691,299 Total revenue 2,135,230 1,715,803 1,746,161 Operating income from continuing operations (1) 189,798 183,471 238,331 Diagnostics Product revenue 1,970,618 1,783,509 962,180 Service revenue 961,321 283,433 175,332 Total revenue 2,931,939 2,066,942 1,137,512 Operating income from continuing operations (1)(2) 1,219,944 874,206 189,330 Corporate Operating loss from continuing operations (3) (77,364) (79,096) (65,688) Continuing Operations Product revenue 3,329,102 2,778,725 2,017,042 Service revenue 1,738,067 1,004,020 866,631 Total revenue 5,067,169 3,782,745 2,883,673 Operating income from continuing operations 1,332,378 978,581 361,973 Interest and other expense, net 52,492 72,217 124,831 Income from continuing operations before income taxes $ 1,279,886 $ 906,364 $ 237,142 ____________________________ (1) Legal costs for significant litigation matters and settlements in the Company's Discovery & Analytical Solutions segment were $5.9 million and $2.2 million for fiscal years 2020 and 2019, respectively. Legal costs for significant litigation matters and settlements in the Company's Diagnostics segment were $0.1 million, $1.2 million and $0.1 million for fiscal years 2021, 2020 and 2019, respectively. (2) Asset impairment in the Company's Diagnostics segment was $3.9 million and $7.9 million for fiscal years 2021 and 2020. (3) Costs for significant environmental matters were $5.2 million for fiscal year 2020. Stock compensation expense from acceleration of executive compensation was $7.7 million for fiscal year 2019. |
Schedule of Depreciation, Amortization and Capital Expenditures | Additional information relating to the Company’s reporting segments is as follows for the three fiscal years ended January 2, 2022: Depreciation and Amortization Expense Capital Expenditures January 2, January 3, December 29, January 2, January 3, December 29, (In thousands) (In thousands) Discovery & Analytical Solutions $ 141,261 $ 93,516 $ 74,445 $ 41,686 $ 20,217 $ 27,778 Diagnostics 214,178 149,738 136,476 57,206 55,236 46,863 Corporate 2,565 3,253 3,104 996 2,053 1,690 Continuing operations $ 358,004 $ 246,507 $ 214,025 $ 99,888 $ 77,506 $ 76,331 |
Schedule of Total Assets by Segment | Total Assets January 2, January 3, December 29, (In thousands) Discovery & Analytical Solutions $ 10,177,834 $ 3,600,860 $ 3,082,917 Diagnostics 4,692,816 4,228,943 3,368,598 Corporate 129,904 130,512 87,049 Total assets $ 15,000,554 $ 7,960,315 $ 6,538,564 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | The following geographic area information for continuing operations includes revenue based on location of external customers for the three fiscal years ended January 2, 2022 and net long-lived assets based on physical location as of January 2, 2022 and January 3, 2021: Revenue January 2, January 3, December 29, (In thousands) U.S. $ 2,046,914 $ 1,269,293 $ 974,187 International: China 670,084 492,283 581,688 United Kingdom 417,199 362,591 70,703 Other international 1,932,972 1,658,578 1,257,095 Total international 3,020,255 2,513,452 1,909,486 Total sales $ 5,067,169 $ 3,782,745 $ 2,883,673 Net Long-Lived Assets (1) January 2, January 3, (In thousands) U.S. $ 343,723 $ 197,755 International: Germany 148,048 149,105 China 79,851 75,199 Other international 256,956 229,099 Total international 484,855 453,403 Total net long-lived assets $ 828,578 $ 651,158 |
Business Combinations and Ass_3
Business Combinations and Asset Purchases (Narrative) (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022USD ($)employees$ / sharesshares | Jan. 03, 2021USD ($)employees$ / shares | Dec. 29, 2019USD ($) | Sep. 17, 2021$ / shares | |
Business Acquisition [Line Items] | ||||
Business Combination, Contingent Consideration, Liability, Current | $ (1,300) | $ (2,900) | ||
Business Combination, Contingent Consideration, Liability, Noncurrent | 56,700 | 100 | ||
Business Combination, Contingent Consideration, Liability, Total | $ (58,000) | (3,000) | ||
Business Combination, Contingent Consideration Arrangements, Maximum Period | 6 years 10 months 24 days | |||
Goodwill | $ 7,416,584 | 3,447,114 | $ 3,111,227 | |
Number of Years in Measurement Period from Acquisition Date to Change Underlying Assumptions | 1 year | |||
Business Combination, Contingent Consideration Arrangements, Weighted Average Period | 5 years 4 months 24 days | |||
Business Combination, Acquisition Related Costs | $ 97,500 | $ 9,300 | 6,600 | |
Horizon Discovery Group plc [Member] | ||||
Business Acquisition [Line Items] | ||||
Entity Number of Employees | employees | 400 | |||
Fiscal Year 2020 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | $ 35,532 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 20,302 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 18,114 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 412,097 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 437,661 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 1,660 | |||
Weighted average amortization period (in years) | 11 years | |||
Goodwill | $ 221,751 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (25,674) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | 2,031 | |||
Working capital and other adjustments | (384) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (46,430) | |||
Cash Acquired | 26,840 | |||
Business Combination, Consideration Transferred | 412,097 | |||
Interest Expense | 500 | |||
Fiscal Year 2019 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 62,756 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (3,404) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 11,840 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 626 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 417,072 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 409,837 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 7,084 | |||
Weighted average amortization period (in years) | 11 years | |||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | $ (12,734) | |||
Goodwill | 169,108 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (63,113) | |||
Working capital and other adjustments | 3,401 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (26,718) | |||
Cash Acquired | 15,984 | |||
Business Combination, Consideration Transferred | 417,072 | |||
Shandong Meizheng [Member] | ||||
Business Acquisition [Line Items] | ||||
Compensation Expense, Excluding Cost of Good and Service Sold | $ 14,300 | 4,700 | ||
Cisbio Bioassays SAS [Member] | ||||
Business Acquisition [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | 2,600 | |||
Tulip Diagnostics Private Limited [Member] | ||||
Business Acquisition [Line Items] | ||||
Compensation Expense, Excluding Cost of Good and Service Sold | 500 | |||
Oxford Immunotec | ||||
Business Acquisition [Line Items] | ||||
Entity Number of Employees | employees | 275 | |||
Nexcelom Bioscience | ||||
Business Acquisition [Line Items] | ||||
Entity Number of Employees | employees | 130 | |||
BioLegend [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Pro Forma Revenue | $ 5,295,483 | 4,024,631 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 184,704 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 147,200 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 9,330 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 5,688,964 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 3,336,115 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 6,857 | |||
Weighted average amortization period (in years) | 16 years 3 months 18 days | |||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $ 91,700 | |||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 25,800 | |||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 0 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 0 | 183 | ||
Entity Number of Employees | employees | 700 | |||
Goodwill | $ 3,510,710 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (668,920) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (38,239) | |||
Cash Acquired from Acquisition | 292,400 | |||
Cash Acquired | (292,377) | |||
Business Combination, Consideration Transferred | 5,688,964 | |||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax | $ 1,001,109 | $ 551,572 | ||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares | $ 7,690 | $ 4,390 | ||
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares | $ 7,660 | $ 4,370 | ||
Foreign Currency Transaction Gain (Loss), before Tax | $ (5,400) | |||
Interest Expense | 23,400 | |||
Cash Acquired from Acquisition | (292,400) | |||
Business Acquisition, Cost of Acquired Entity, Consideration Paid in Common Stock | $ 2,600,000 | |||
Business Acquisition, Share Price | $ / shares | $ 187.56 | |||
Stock Issued During Period, Shares, Acquisitions | shares | 14,066,799 | |||
Business Combination, Acquisition Related Costs, Excluded From Proforma Income (Loss) From Continuing Operations | $ 43,200 | |||
Business Combination, Bridge Financing and Debt Pre-issuance Hedging Costs, Excluded From Proforma Income (Loss) From Continuing Operations | 23,300 | |||
Business Combination, Pro Forma Information, Amortization of Acquired Intangible Assets | 47,000 | |||
Business Acquisition, Cost of Acquired Entity, Consideration Paid in Cash | 3,300,000 | |||
Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | $ 72,826 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (4,628) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 26,507 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 15,564 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 994,098 | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 1,128,584 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2,910 | |||
Weighted average amortization period (in years) | 12 years 4 months 24 days | |||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | $ (57,431) | |||
Goodwill | 547,388 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (83,931) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | 1,197 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (58,920) | |||
Cash Acquired | (195,010) | |||
Business Combination, Consideration Transferred | 994,098 | |||
Biosense, Sirion and Qognit [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 108,400 | |||
Core Technology [Member] | Fiscal Year 2020 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 65,730 | |||
Core Technology [Member] | Fiscal Year 2019 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 153,267 | |||
Trade Names [Member] | Fiscal Year 2020 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,580 | |||
Trade Names [Member] | Fiscal Year 2019 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 11,210 | |||
Customer Relationships [Member] | Fiscal Year 2019 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 101,500 | |||
In Process Research and Development [Member] | Fiscal Year 2020 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,700 | |||
Diagnostics [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | 1,970,350 | 1,691,227 | 1,612,407 | |
Discovery & Analytical Solutions [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | 5,446,234 | 1,755,887 | 1,498,820 | |
United States of America, Dollars | Fiscal Year 2021 Other Acquisitions | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 331,000 | |||
Business Combinations, Identifiable Intangible Assets Acquired | 500,000 | |||
United States of America, Dollars | Fiscal Year 2020 Other Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 39,100 | |||
United States of America, Dollars | Horizon Discovery Group plc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 399,800 | |||
United States of America, Dollars | Fiscal Year 2020 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 438,900 | |||
United States of America, Dollars | Fiscal Year 2019 Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 433,100 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 31,800 | |||
United States of America, Dollars | Fiscal Year 2019 Other Acquisitions [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 46,600 | |||
United States of America, Dollars | Shandong Meizheng [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 166,500 | |||
United States of America, Dollars | Cisbio Bioassays SAS [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 219,900 | |||
United States of America, Dollars | Oxford Immunotec | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 590,900 | |||
United States of America, Dollars | Nexcelom Bioscience | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 267,300 | |||
United States of America, Dollars | BioLegend [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 5,700,000 | |||
United States of America, Dollars | Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 1,200,000 | |||
Business Combinations, Identifiable Intangible Assets Acquired | 2,500,000 | |||
United States of America, Dollars | Core Technology [Member] | Fiscal Year 2021 Acquisitions | ||||
Business Acquisition [Line Items] | ||||
Business Combinations, Identifiable Intangible Assets Acquired | 1,100,000 | |||
United States of America, Dollars | Customer Relationships [Member] | Fiscal Year 2021 Acquisitions | ||||
Business Acquisition [Line Items] | ||||
Business Combinations, Identifiable Intangible Assets Acquired | $ 1,900,000 | |||
United Kingdom, Pounds | Horizon Discovery Group plc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 296,000 |
Business Combinations and Ass_4
Business Combinations and Asset Purchases (Fair Values of the Business Combinations and Allocations for the Acquisitions Completed) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Business Acquisition [Line Items] | |||
Goodwill | $ 7,416,584 | $ 3,447,114 | $ 3,111,227 |
BioLegend [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 3,336,115 | ||
Less: cash acquired | 292,377 | ||
Business Combination, Consideration Transferred | 5,688,964 | ||
Current assets | 184,704 | ||
Property, plant and equipment | 147,200 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 9,330 | ||
Goodwill | 3,510,710 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (668,920) | ||
Liabilities assumed | 0 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (38,239) | ||
Total | 5,688,964 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 6,857 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 2,638,369 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | 0 | ||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 0 | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 0 | 183 | |
BioLegend [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 5,700,000 | ||
Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 1,128,584 | ||
Less: cash acquired | 195,010 | ||
Business Combination, Consideration Transferred | 994,098 | ||
Current assets | 72,826 | ||
Property, plant and equipment | 26,507 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 15,564 | ||
Goodwill | 547,388 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (83,931) | ||
Liabilities assumed | (4,628) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (58,920) | ||
Total | 994,098 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 2,910 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 0 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | (1,197) | ||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 57,431 | ||
Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 1,200,000 | ||
Fiscal Year 2021 Other Acquisitions | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 331,000 | ||
Fiscal Year 2020 Other Acquisitions [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 39,100 | ||
Horizon Discovery Group plc [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 399,800 | ||
Fiscal Year 2020 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 437,661 | ||
Working capital and other adjustments | (384) | ||
Less: cash acquired | (26,840) | ||
Business Combination, Consideration Transferred | 412,097 | ||
Current assets | 35,532 | ||
Property, plant and equipment | 20,302 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 18,114 | ||
Goodwill | 221,751 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (25,674) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (46,430) | ||
Total | 412,097 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 1,660 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue | (2,031) | ||
Fiscal Year 2020 Acquisitions [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 438,900 | ||
Fiscal Year 2019 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 409,837 | ||
Working capital and other adjustments | 3,401 | ||
Less: cash acquired | (15,984) | ||
Business Combination, Consideration Transferred | 417,072 | ||
Current assets | 62,756 | ||
Property, plant and equipment | 11,840 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 626 | ||
Goodwill | 169,108 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (63,113) | ||
Liabilities assumed | (3,404) | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (26,718) | ||
Total | 417,072 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | 7,084 | ||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 12,734 | ||
Fiscal Year 2019 Acquisitions [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 433,100 | ||
Fiscal Year 2019 Other Acquisitions [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 46,600 | ||
Shandong Meizheng [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 166,500 | ||
Cisbio Bioassays SAS [Member] | United States of America, Dollars | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 219,900 | ||
Core Technology [Member] | Fiscal Year 2020 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 65,730 | ||
Core Technology [Member] | Fiscal Year 2019 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 153,267 | ||
Trade Names [Member] | Fiscal Year 2020 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,580 | ||
Trade Names [Member] | Fiscal Year 2019 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 11,210 | ||
Customer Relationships [Member] | Fiscal Year 2019 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 101,500 | ||
In Process Research and Development [Member] | Fiscal Year 2020 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,700 | ||
License | BioLegend [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 8,979 | ||
License | Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||
Customer Relationships and Backlog [Member] | BioLegend [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,714,800 | ||
Customer Relationships and Backlog [Member] | Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 141,170 | ||
Customer Relationships and Backlog [Member] | Fiscal Year 2020 Acquisitions [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 108,523 | ||
Trade Names and Patents [Member] | BioLegend [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 38,000 | ||
Trade Names and Patents [Member] | Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 39,620 | ||
Core technology and Clone Library [Member] | BioLegend [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 782,400 | ||
Core technology and Clone Library [Member] | Fiscal Year 2021 Acquisitions (Excluding BioLegend) [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 299,699 | ||
Diagnostics [Member] | |||
Business Acquisition [Line Items] | |||
Goodwill | 1,970,350 | 1,691,227 | 1,612,407 |
Discovery & Analytical Solutions [Member] | |||
Business Acquisition [Line Items] | |||
Goodwill | $ 5,446,234 | $ 1,755,887 | $ 1,498,820 |
Nature of Operations and Acco_3
Nature of Operations and Accounting Policies Nature of Operations and Accounting Policies (Narrative) (Details) (Details) $ in Thousands | 12 Months Ended | |||
Jan. 01, 2023 | Jan. 02, 2022USD ($)segments | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | |
Number of Operating Segments | segments | 2 | |||
Unamortized Debt Issuance Expense | $ 35,781 | $ 12,540 | ||
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (22,926) | 25,913 | $ (447) | |
Restricted Cash | $ 1,018 | $ 578 | $ 17 | |
Fiscal Year Week Format | 52 | 53 | ||
Minimum [Member] | Building [Member] | ||||
Property, Plant and Equipment, Useful Life, Maximum | 10 years | |||
Minimum [Member] | Tools, Dies and Molds [Member] | ||||
Property, Plant and Equipment, Useful Life, Maximum | 3 years | |||
Maximum [Member] | Building [Member] | ||||
Property, Plant and Equipment, Useful Life, Maximum | 40 years | |||
Maximum [Member] | Machinery and Equipment [Member] | ||||
Property, Plant and Equipment, Useful Life, Maximum | 8 years | |||
Subsequent Event [Member] | ||||
Fiscal Year Week Format | 52 |
Revenue from Contract with Cu_3
Revenue from Contract with Customer (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,067,169 | $ 3,782,745 | $ 2,883,673 |
Contract with Customer, Asset, Net, Current | 72,117 | 59,474 | 37,036 |
Contract with Customer, Liability, Current | 201,073 | 238,115 | 29,944 |
Contract with Customer, Asset and Liability [Abstract] | |||
Contract with Customer, Asset, Net, Current | 72,117 | 59,474 | 37,036 |
Contract with Customer, Liability, Current | 201,073 | 238,115 | 29,944 |
Contract with Customer, Liability, Revenue Recognized | (99,997) | (27,328) | |
Increase (Decrease) in Contract with Customer, Asset | 64,612 | 55,674 | |
Increase (Decrease) in Contract with Customer, Liability | 62,955 | 235,499 | |
Unbilled Receivables Transferred To Accounts Receivables | (51,969) | (33,236) | |
Transferred at Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,881,081 | 3,086,731 | 2,330,473 |
Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,186,088 | 696,014 | 553,200 |
Americas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,238,580 | 1,446,601 | 1,118,796 |
Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,582,362 | 1,355,476 | 787,378 |
Asia [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,246,227 | 980,668 | 977,499 |
Discovery & Analytical Solutions [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,135,230 | 1,715,803 | 1,746,161 |
Discovery & Analytical Solutions [Member] | Transferred at Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,595,245 | 1,195,249 | 1,276,499 |
Discovery & Analytical Solutions [Member] | Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 539,985 | 520,554 | 469,662 |
Discovery & Analytical Solutions [Member] | Americas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 876,367 | 695,960 | 717,205 |
Discovery & Analytical Solutions [Member] | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 599,886 | 490,789 | 495,768 |
Discovery & Analytical Solutions [Member] | Asia [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 658,977 | 529,054 | 533,188 |
Diagnostics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,931,939 | 2,066,942 | 1,137,512 |
Diagnostics [Member] | Customer Concentration Risk [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 638,600 | 97,800 | 30,800 |
Diagnostics [Member] | Transferred at Point in Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,285,836 | 1,891,482 | 1,053,974 |
Diagnostics [Member] | Transferred over Time [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 646,103 | 175,460 | 83,538 |
Diagnostics [Member] | Americas [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,362,213 | 750,641 | 401,591 |
Diagnostics [Member] | Europe [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 982,476 | 864,687 | 291,610 |
Diagnostics [Member] | Asia [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 587,250 | 451,614 | 444,311 |
Life Sciences [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,337,340 | 1,032,209 | 977,200 |
Life Sciences [Member] | Discovery & Analytical Solutions [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,337,340 | 1,032,209 | 977,200 |
Life Sciences [Member] | Diagnostics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 |
Diagnostics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,931,939 | 2,066,942 | 1,137,512 |
Diagnostics [Member] | Discovery & Analytical Solutions [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 0 |
Diagnostics [Member] | Diagnostics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,931,939 | 2,066,942 | 1,137,512 |
Applied Markets [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 797,890 | 683,594 | 768,961 |
Applied Markets [Member] | Discovery & Analytical Solutions [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 797,890 | 683,594 | 768,961 |
Applied Markets [Member] | Diagnostics [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | $ 0 | $ 0 |
Changes in Accounting Policies
Changes in Accounting Policies (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ (5,067,169) | $ (3,782,745) | $ (2,883,673) | |
Selling, general and administrative expenses | 1,227,521 | 917,894 | 815,318 | |
Research and development expenses | 274,969 | 205,389 | 189,336 | |
Restructuring and other costs, net | 16,432 | 8,013 | 29,428 | |
Interest and other expense, net | 52,492 | 72,217 | 124,831 | |
Operating income from continuing operations | 1,332,378 | 978,581 | 361,973 | |
Nonoperating Income (Expense) | 52,492 | 72,217 | 124,831 | |
Provision for income taxes | 336,603 | 178,266 | 9,389 | |
Operating income from continuing operations | 943,283 | 728,098 | 227,753 | |
(Loss) gain on disposition of discontinued operations before income taxes | 0 | (76) | 0 | |
Cash and cash equivalents | 618,319 | 402,036 | 191,877 | |
Accounts receivable, net | (1,023,792) | (1,155,109) | ||
Inventories | 624,714 | 514,567 | ||
Other current assets | (173,955) | (167,208) | ||
Property, plant and equipment, net | 545,605 | 368,304 | ||
Intangible assets, net | 4,063,104 | 1,365,693 | ||
Goodwill | 7,416,584 | 3,447,114 | 3,111,227 | |
Other assets, net | 326,706 | 333,048 | ||
Current portion of long-term debt | 4,240 | 380,948 | ||
Assets | (15,000,554) | (7,960,315) | ||
Current portion of long-term debt | 380,948 | |||
Accounts payable | 355,458 | 327,325 | ||
Accrued expenses and other current liabilities | 854,046 | 943,916 | ||
Long-term debt | 4,979,737 | 1,609,701 | ||
Long-term liabilities | 1,480,469 | 774,531 | ||
Liabilities | 7,859,309 | 4,224,823 | ||
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding | 0 | 0 | ||
Common Stock, Value, Issued | 126,241 | 112,090 | ||
Capital in excess of par value | 2,760,522 | 148,101 | ||
Retained earnings | 4,417,174 | 3,507,262 | ||
Accumulated other comprehensive loss | (162,692) | (31,961) | (199,646) | $ (176,481) |
Stockholders' Equity Attributable to Parent | 7,141,245 | 3,735,492 | 2,813,824 | $ 2,584,955 |
Liabilities and Equity | (15,000,554) | (7,960,315) | ||
Net income | 943,157 | 727,887 | 227,558 | |
Provision For Income Taxes On Discontinued Operations And Dispositions | 126 | (135) | (195) | |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | (126) | (211) | (195) | |
Product [Member] | ||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | (3,329,102) | (2,778,725) | (2,017,042) | |
Cost of Goods and Services Sold | (1,503,881) | (1,105,614) | (956,398) | |
Service [Member] | ||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | (1,738,067) | (1,004,020) | (866,631) | |
Cost of Goods and Services Sold | $ (711,988) | $ (567,254) | $ (531,220) |
Discontinued Operations Narrati
Discontinued Operations Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
(Loss) gain on disposition of discontinued operations before income taxes | $ 0 | $ (76) | $ 0 |
(Benefit from) provision for income taxes on discontinued operations and dispositions | $ 126 | $ 135 | $ 195 |
Restructuring and Contract Te_2
Restructuring and Contract Termination Charges, Net (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 29, 2019 | Sep. 29, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 16,432 | $ 8,013 | $ 29,428 | ||||
Restructuring Reserve1 | 10,300 | 8,300 | |||||
Short-term accrued restructuring and other costs [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Accrued restructuring and contract termination costs | 4,700 | ||||||
Accrued expenses and other current liabilities [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Accrued restructuring and contract termination costs | 8,000 | 2,000 | |||||
Long-term liabilities [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Reserve, Noncurrent | 700 | ||||||
Operating lease right-of-use assets [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Reserve, Noncurrent | 1,600 | 1,600 | |||||
Q1 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 7,460 | ||||||
Q2 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 5,590 | ||||||
Q3 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 13,797 | ||||||
Q4 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 2,581 | ||||||
Facility Relocation [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Charges and Changes in Estimates | $ 7,100 | 4,300 | 800 | ||||
Discovery & Analytical Solutions [Member] | Contract Termination [Member] | 2020 Contract Termination Charges [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 200 | ||||||
Discovery & Analytical Solutions [Member] | Contract Termination [Member] | 2019 Contract Termination Charges [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 200 | ||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q1 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 6,001 | ||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q2 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 4,461 | ||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q3 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 11,156 | ||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q4 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | 177 | ||||||
Diagnostics [Member] | Contract Termination [Member] | 2020 Contract Termination Charges [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 100 | $ 200 | |||||
Diagnostics [Member] | Severance [Member] | Q1 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 1,459 | ||||||
Diagnostics [Member] | Severance [Member] | Q2 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 1,129 | ||||||
Diagnostics [Member] | Severance [Member] | Q3 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 2,641 | ||||||
Diagnostics [Member] | Severance [Member] | Q4 2019 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring and other costs, net | $ 2,404 |
Restructuring and Contract Te_3
Restructuring and Contract Termination Charges, Net Restructuring and Contract Termination Charges, Net (Schedule of Initial Charges) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Jan. 02, 2022USD ($)employees | Oct. 03, 2021USD ($)employees | Jul. 04, 2021USD ($)employees | Apr. 04, 2021USD ($)employees | Oct. 04, 2020USD ($)employees | Apr. 05, 2020USD ($)employees | Dec. 29, 2019USD ($)employees | Sep. 29, 2019USD ($)employees | Jun. 30, 2019USD ($)employees | Mar. 31, 2019USD ($)employees | Jan. 02, 2022USD ($) | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | |
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 16,432 | $ 8,013 | $ 29,428 | ||||||||||
Q3 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 23 | ||||||||||||
Restructuring and other costs, net | $ 2,981 | ||||||||||||
Q1 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 32 | ||||||||||||
Restructuring and other costs, net | $ 4,220 | ||||||||||||
Q4 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 22 | ||||||||||||
Restructuring and other costs, net | $ 2,581 | ||||||||||||
Q3 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 259 | ||||||||||||
Restructuring and other costs, net | $ 13,797 | ||||||||||||
Q2 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 44 | ||||||||||||
Restructuring and other costs, net | $ 5,590 | ||||||||||||
Q1 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 105 | ||||||||||||
Restructuring and other costs, net | $ 7,460 | ||||||||||||
Q1 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 77 | ||||||||||||
Restructuring and other costs, net | $ 5,556 | ||||||||||||
Q4 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 39 | ||||||||||||
Restructuring and other costs, net | $ 3,366 | ||||||||||||
Q3 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 31 | ||||||||||||
Restructuring and other costs, net | $ 786 | ||||||||||||
Q2 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 25 | ||||||||||||
Restructuring and other costs, net | $ 1,532 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q3 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 901 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q1 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 1,134 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q4 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 2,404 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q3 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 2,641 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q2 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 1,129 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q1 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 1,459 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q1 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 1,615 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q4 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 77 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q3 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 366 | ||||||||||||
Diagnostics [Member] | Severance [Member] | Q2 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 564 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q3 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q1 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 682 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q4 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q3 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q2 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q1 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q1 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q4 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q3 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Diagnostics [Member] | Facility Closing [Member] | Q2 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q3 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 2,080 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q1 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 2,312 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q4 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 177 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q3 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 11,156 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q2 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 4,461 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q1 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 6,001 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q1 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 3,941 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q4 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 3,139 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q3 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 420 | ||||||||||||
Discovery & Analytical Solutions [Member] | Severance [Member] | Q2 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | 968 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q3 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q1 2020 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 92 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q4 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q3 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q2 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q1 2019 Restructuring Plan [Member] | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q1 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q4 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 150 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q3 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 | ||||||||||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q2 2021 Restructuring Plan | |||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||
Restructuring and other costs, net | $ 0 |
Restructuring and Contract Te_4
Restructuring and Contract Termination Charges, Net (Schedule of Restructuring Plan Activity) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||
Oct. 04, 2020 | Apr. 05, 2020 | Dec. 29, 2019 | Sep. 29, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 16,432 | $ 8,013 | $ 29,428 | ||||||
Facility Relocation [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring Charges and Changes in Estimates | $ 7,100 | $ 4,300 | $ 800 | ||||||
Q3 2020 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 2,981 | ||||||||
Q1 2020 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 4,220 | ||||||||
Q4 2019 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 2,581 | ||||||||
Q3 2019 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 13,797 | ||||||||
Q2 2019 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 5,590 | ||||||||
Q1 2019 Restructuring Plan [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 7,460 | ||||||||
Diagnostics [Member] | Q3 2020 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 901 | ||||||||
Diagnostics [Member] | Q3 2020 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 0 | ||||||||
Diagnostics [Member] | Q1 2020 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 1,134 | ||||||||
Diagnostics [Member] | Q1 2020 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 682 | ||||||||
Diagnostics [Member] | Q4 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 2,404 | ||||||||
Diagnostics [Member] | Q4 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 0 | ||||||||
Diagnostics [Member] | Q3 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 2,641 | ||||||||
Diagnostics [Member] | Q3 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 0 | ||||||||
Diagnostics [Member] | Q2 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 1,129 | ||||||||
Diagnostics [Member] | Q2 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 0 | ||||||||
Diagnostics [Member] | Q1 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 1,459 | ||||||||
Diagnostics [Member] | Q1 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 0 | ||||||||
Discovery & Analytical Solutions [Member] | Q3 2020 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 2,080 | ||||||||
Discovery & Analytical Solutions [Member] | Q3 2020 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 0 | ||||||||
Discovery & Analytical Solutions [Member] | Q1 2020 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 2,312 | ||||||||
Discovery & Analytical Solutions [Member] | Q1 2020 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 92 | ||||||||
Discovery & Analytical Solutions [Member] | Q4 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 177 | ||||||||
Discovery & Analytical Solutions [Member] | Q4 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 0 | ||||||||
Discovery & Analytical Solutions [Member] | Q3 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 11,156 | ||||||||
Discovery & Analytical Solutions [Member] | Q3 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 0 | ||||||||
Discovery & Analytical Solutions [Member] | Q2 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 4,461 | ||||||||
Discovery & Analytical Solutions [Member] | Q2 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 0 | ||||||||
Discovery & Analytical Solutions [Member] | Q1 2019 Restructuring Plan [Member] | Severance [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | 6,001 | ||||||||
Discovery & Analytical Solutions [Member] | Q1 2019 Restructuring Plan [Member] | Closure Of Excess Facility Space [Member] | |||||||||
Restructuring Reserve [Roll Forward] | |||||||||
Restructuring and other costs, net | $ 0 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 | Dec. 31, 2017 | |
Income Tax Contingency [Line Items] | |||||
Income Tax Holiday, Aggregate Dollar Amount | $ (19,000) | $ (21,800) | $ (10,400) | ||
Effective Tax Rate, Income Tax on Repatriation of Foreign Earnings | $ 37,100 | ||||
Impact of benefits derived from tax holidays on earnings per share, basic | $ 0.16 | $ (0.20) | $ (0.09) | ||
Impact of benefits derived from tax holidays on earnings per share, diluted | $ (0.16) | $ (0.19) | $ (0.09) | ||
Valuation Allowance, Amount | $ 91,503 | $ 99,740 | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Unrecognized tax benefits, beginning of period | 38,773 | 35,547 | $ 33,009 | ||
Gross increases - tax positions in prior period | 2,877 | 4,974 | 275 | ||
Gross decreases - tax positions in prior period | 0 | (2,471) | (2,183) | ||
Gross increases - current-period tax positions | 149 | 151 | 152 | ||
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 22,697 | 158 | 4,158 | ||
Settlements | (2,252) | 0 | (45) | ||
Lapse of statute of limitations | (563) | 0 | 0 | ||
Foreign currency translation adjustments | (23) | 414 | 181 | ||
Unrecognized tax benefits, end of period | 38,773 | 35,547 | $ 33,009 | ||
Income Tax Penalties and Interest Accrued | 7,600 | 5,800 | |||
Income Tax Penalties and Interest Expense | 1,800 | 1,800 | 1,600 | ||
Unrecognized Tax Benefits, Ending Balance | 61,658 | 38,773 | 35,547 | ||
Uncertain tax benefits if recognized that could affect the continuing operations effective tax rate | 58,000 | ||||
Uncertain tax benefits if recognized that could affect the discontinuing operations effective tax rate | 1,700 | ||||
Unrecognized Tax Benefits Expected To Be Resolved With In A Year | 1,000 | ||||
Undistributed Earnings of Foreign Subsidiaries Not Meeting Requirements to be Reinvested | 1,200,000 | ||||
Tax Adjustments, Settlements, and Unusual Provisions | 43,200 | 10,800 | (23,400) | ||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 37,147 | 0 | 0 | ||
2017 Tax Cuts and Jobs Act [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Income Tax Expense | 2,700 | $ (4,600) | $ 85,000 | ||
Discrete Income Tax Expense (Benefit), Tax Reform Trueup | 2,700 | ||||
Other Tax Matters [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 3,900 | 1,600 | 1,400 | ||
Excess tax benefits on stock compensation [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (5,500) | (11,700) | (4,900) | ||
Valuation allowance adjustments [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (2,500) | (12,300) | |||
Foreign tax rate changes | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 2,500 | ||||
Interest on uncertain tax positions | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 4,500 | ||||
Tax elections adjustments [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (3,700) | ||||
True-up of Return-to-Provision [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 1,200 | $ (6,700) | |||
Foreign fiscal unity adjustments | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 15,200 | ||||
Assertions Regarding Reinvestment of Foreign Earnings | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 37,100 | ||||
Unrecognized tax (benefits) expense [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (1,900) | ||||
Remeasurement of Deferred Tax Liabilities [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | 14,000 | ||||
Deferred Tax Assets and Liabilities in Connection with United Kingdom Finance Act 2021 [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (1,800) | ||||
Discrete Tax Benefits Related a Transaction Completed in Second Quarter of Fiscal Year 2021 [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (6,400) | ||||
General Business [Member] | |||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Credit Carryforward, Amount | 600 | ||||
State and Local Jurisdiction [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Operating Loss Carryforwards | 10,800 | ||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Credit Carryforward, Amount | 15,000 | ||||
Foreign Tax Authority [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Operating Loss Carryforwards | 452,000 | ||||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||||
Tax Credit Carryforward, Amount | 100 | ||||
Internal Revenue Service (IRS) [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Operating Loss Carryforwards | $ 74,800 |
Income Taxes Income Before Inco
Income Taxes Income Before Income taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Income Tax Contingency [Line Items] | |||
U.S. | $ 562,704 | $ 183,452 | $ 29,252 |
Non-U.S. | 717,182 | 722,912 | 207,890 |
Income from continuing operations before income taxes | 1,279,886 | 906,364 | 237,142 |
Tax Adjustments, Settlements, and Unusual Provisions | $ 43,200 | 10,800 | $ (23,400) |
Foreign fiscal unity adjustments | |||
Income Tax Contingency [Line Items] | |||
Tax Adjustments, Settlements, and Unusual Provisions | $ 15,200 |
Income Taxes Components of the
Income Taxes Components of the Provision (Benefits from) Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Income Tax Contingency [Line Items] | |||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | $ (34,676) | $ (40,216) | $ (32,124) |
Federal current | 150,621 | 21,262 | 3,735 |
Federal deferred expense (benefit) | (37,551) | 15,951 | (267) |
Federal total | 113,070 | 37,213 | 3,468 |
State current | 62,381 | 13,688 | 4,425 |
State deferred expense (benefit) | 3,508 | (967) | (1,574) |
State total | 65,889 | 12,721 | 2,851 |
Non-U.S. current | 172,943 | 172,437 | 62,582 |
Non-U.S.deferred expense benefit | (15,299) | (44,105) | (59,512) |
Non-U.S. total | 157,644 | 128,332 | 3,070 |
Total current | 385,945 | 207,387 | 70,742 |
Total deferred expense (benefit) | (49,342) | (29,121) | (61,353) |
Total | 336,603 | 178,266 | 9,389 |
Discontinued operations | 126 | 135 | 195 |
Total provision for income taxes | $ 336,729 | $ 178,401 | $ 9,584 |
Income Taxes Reconciliation of
Income Taxes Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Income Tax Contingency [Line Items] | |||
Tax at statutory rate | $ 268,776 | $ 190,339 | $ 49,799 |
Non-U.S. rate differential, net | (34,676) | (40,216) | (32,124) |
U.S. taxation of multinational operations | 9,731 | 9,050 | 4,251 |
State income taxes, net | 37,907 | 13,306 | 1,941 |
Prior year tax matters | 3,068 | 8,262 | (5,103) |
Effect of Stock Compensation | (2,961) | (8,818) | (2,053) |
Federal tax credits | (4,277) | (4,136) | (4,325) |
Change in valuation allowance | 3,070 | 10 | (1,117) |
Rate change on long term intangibles | 14,031 | 0 | 0 |
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | 37,147 | 0 | 0 |
Foreign consolidations | 0 | 15,222 | 0 |
Tax Elections | 0 | 0 | (3,700) |
Tax Adjustments, Settlements, and Unusual Provisions | 43,200 | 10,800 | (23,400) |
Other, net | 4,787 | (4,753) | (898) |
Total | 336,603 | 178,266 | 9,389 |
2017 Tax Cuts and Jobs Act [Member] | |||
Income Tax Contingency [Line Items] | |||
Impact of U.S. Tax Act | $ 0 | $ 0 | $ 2,718 |
Income Taxes Components of Defe
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 02, 2022 | Jan. 03, 2021 | |
Income Tax Contingency [Line Items] | ||
Inventory | $ 3,152 | $ 4,788 |
Reserves and accruals | 56,085 | 51,107 |
Accrued compensation | 30,352 | 20,881 |
Net operating loss and credit carryforwards | 113,787 | 131,884 |
Accrued pension | 23,801 | 34,192 |
Restructuring reserve | 1,442 | 1,579 |
Deferred revenue | 49,431 | 29,838 |
Deferred Tax Assets, Unrealized Foreign Exchange Losses | 14,631 | 21,614 |
Deferred tax assets, operating lease liabilities | 37,936 | 42,220 |
All other, net | 631 | 0 |
Deferred Tax Assets, Gross | 331,248 | 338,103 |
Postretirement health benefits | (5,303) | (8,168) |
Depreciation and amortization | (1,037,637) | (355,876) |
Deferred Tax Liabilities, Prepaid Expenses | (3,263) | (4,160) |
Deferred tax liability on foreign earnings | 31,239 | 0 |
Deferred tax liabilities, operating lease right-of-use assets | (34,111) | 38,598 |
Total deferred tax liabilities | (1,111,553) | (406,802) |
Valuation allowance | (91,503) | (99,740) |
Deferred Tax Liabilities, Net | (871,808) | (168,439) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 8,200 | |
Domestic Country [Member] | ||
Income Tax Contingency [Line Items] | ||
Net deferred tax liabilities | (621,449) | (50,302) |
Foreign Tax Authority [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Liabilities, Net | $ (250,359) | $ (218,741) |
Income Taxes Summary of Loss an
Income Taxes Summary of Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Income Tax Contingency [Line Items] | ||
Valuation Allowance, Amount | $ 91,503 | $ 99,740 |
State and Local Jurisdiction [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating Loss Carryforwards | 10,800 | |
Tax Credit Carryforward, Amount | 15,000 | |
Foreign Tax Authority [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating Loss Carryforwards | 452,000 | |
Tax Credit Carryforward, Amount | 100 | |
Internal Revenue Service (IRS) [Member] | ||
Income Tax Contingency [Line Items] | ||
Operating Loss Carryforwards | 74,800 | |
General Business [Member] | ||
Income Tax Contingency [Line Items] | ||
Tax Credit Carryforward, Amount | $ 600 |
Earnings Per Share (Schedule of
Earnings Per Share (Schedule of Reconciliation of Number of Shares Utilized in Earnings Per Share Calculations) (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Earnings Per Share [Abstract] | |||
Number of common shares-basic | 116,165 | 111,514 | 110,827 |
Effect of dilutive securities, Stock options | 391 | 466 | 541 |
Effect of dilutive securities, Restricted stock | 118 | 105 | 133 |
Number of common shares-diluted | 116,674 | 112,085 | 111,501 |
Number of potentially dilutive securities excluded from calculation due to antidilutive impact | 487 | 220 | 364 |
Accounts Receivable, Net (Detai
Accounts Receivable, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts receivable, net | $ 1,023,792 | $ 1,155,109 | |
Accounts Receivable, after Allowance for Credit Loss, Noncurrent | 30,303 | 22,510 | |
Accounts Receivable, after Allowance for Credit Loss | 1,054,095 | 1,177,619 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Accounts Receivable, Allowance for Credit Loss, Beginning Balance | 47,594 | 35,232 | $ 30,590 |
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | 8,150 | 16,695 | 6,853 |
Accounts Receivable, Allowance for Credit Loss, Writeoff | (4,646) | (5,857) | (3,009) |
Allowance for Credit Loss, Receivable, Other, Current | 101 | 1,524 | 798 |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 51,199 | $ 47,594 | $ 35,232 |
Inventories, Net (Details)
Inventories, Net (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 229,356 | $ 205,022 |
Work in progress | 69,744 | 35,160 |
Finished goods | 325,614 | 274,385 |
Total inventories | $ 624,714 | $ 514,567 |
Property, Plant and Equipment_3
Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 1,066,773 | $ 818,197 | |
Accumulated depreciation | (521,168) | (449,893) | |
Total property, plant and equipment, net | 545,605 | 368,304 | |
Depreciation expense | 67,300 | 54,000 | $ 49,700 |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 29,793 | 3,937 | |
Building and leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 428,322 | 291,526 | |
Machinery and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 608,658 | $ 522,734 |
Investments, Debt and Equity Se
Investments, Debt and Equity Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Equity Securities without Readily Determinable Fair Value [Line Items] | |||
Marketable Securities, Noncurrent | $ 53,073 | $ 2,154 | |
Equity Securities without Readily Determinable Fair Value, Amount | 31,514 | 48,626 | |
Equity investments, carried at cost minus impairment, if any | 30,176 | 27,438 | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount | 27,800 | 8,200 | |
Equity Securities, FV-NI and without Readily Determinable Fair Value | 1,338 | 21,188 | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | 19,600 | 40 | $ 8,200 |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | 100 | $ 4,900 | |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount | $ 5,000 | $ 4,900 |
Marketable Securities and Inv_3
Marketable Securities and Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Debt Securities, Available-for-sale [Line Items] | |||
Marketable Securities, Noncurrent | $ 53,073 | $ 2,154 | |
Unrealized gains (losses) on securities, net of tax | 237 | (16) | $ 6 |
Marketable Securities and Investments | 84,587 | 50,780 | |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount | 100 | $ 4,900 | |
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount | 5,000 | 4,900 | |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount | 27,800 | 8,200 | |
Equity Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Marketable Securities Classified as Available for Sale | 51,418 | 203 | |
Marketable Securities Classified as Available for Sale, Amortized Cost Basis | 51,418 | 584 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Gain, before Tax | 0 | 0 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Loss, before Tax | 0 | 381 | |
Fixed Income Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Marketable Securities Classified as Available for Sale | 7 | 7 | |
Marketable Securities Classified as Available for Sale, Amortized Cost Basis | 7 | 7 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Gain, before Tax | 0 | 0 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Loss, before Tax | 0 | 0 | |
Available-for-sale Securities, Other [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Marketable Securities Classified as Available for Sale | 1,648 | 1,944 | |
Marketable Securities Classified as Available for Sale, Amortized Cost Basis | 1,711 | 2,007 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Gain, before Tax | 0 | 0 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Loss, before Tax | 63 | 63 | |
Available-for-sale Securities [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Marketable Securities Classified as Available for Sale | 53,073 | 2,154 | |
Marketable Securities Classified as Available for Sale, Amortized Cost Basis | 53,136 | 2,598 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Gain, before Tax | 0 | 0 | |
Marketable Securities Classified as Available for Sale, Gross Unrealized Loss, before Tax | $ 63 | $ 444 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Goodwill and Intangible Assets Net [Line Items] | |||
Total amortization expense related to finite-lived intangible assets | $ 290,200 | $ 192,600 | $ 164,300 |
Future Amortization Expense, Year One | 413,600 | ||
Future Amortization Expense, Year Two | 402,800 | ||
Future Amortization Expense, Year Three | 391,000 | ||
Future Amortization Expense, Year Four | 363,500 | ||
Future Amortization Expense, Year Five | 349,600 | ||
Finite-Lived Intangible Assets, Net | 3,992,520 | 1,295,109 | |
Goodwill | $ 7,416,584 | 3,447,114 | 3,111,227 |
Impairment Testing Date | January 4, 2021 | ||
Trade Names And Trademarks [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | $ 108,542 | 49,855 | |
Licenses [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 13,572 | 6,248 | |
Discovery & Analytical Solutions [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 3,099,309 | 491,871 | |
Goodwill | 5,446,234 | 1,755,887 | 1,498,820 |
Discovery & Analytical Solutions [Member] | Trade Names And Trademarks [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 50,828 | 19,284 | |
Discovery & Analytical Solutions [Member] | Licenses [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 9,130 | 1,151 | |
Diagnostics [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 893,211 | 803,238 | |
Goodwill | 1,970,350 | 1,691,227 | $ 1,612,407 |
Diagnostics [Member] | Trade Names And Trademarks [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | 57,714 | 30,571 | |
Diagnostics [Member] | Licenses [Member] | |||
Goodwill and Intangible Assets Net [Line Items] | |||
Finite-Lived Intangible Assets, Net | $ 4,442 | $ 5,097 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net (Changes in the Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 02, 2022 | Jan. 03, 2021 | |
Changes in the carrying amount of goodwill | ||
Foreign currency translation | $ (92,520) | $ 120,682 |
Acquisitions, earn outs and other | 4,061,990 | 215,205 |
Ending balance | 7,416,584 | 3,447,114 |
Diagnostics [Member] | ||
Changes in the carrying amount of goodwill | ||
Foreign currency translation | (40,557) | 62,596 |
Acquisitions, earn outs and other | 319,680 | 16,224 |
Ending balance | 1,970,350 | 1,691,227 |
Discovery & Analytical Solutions [Member] | ||
Changes in the carrying amount of goodwill | ||
Foreign currency translation | (51,963) | 58,086 |
Acquisitions, earn outs and other | 3,742,310 | 198,981 |
Ending balance | $ 5,446,234 | $ 1,755,887 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net (Identifiable Intangible Asset Balances) (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Net amortizable intangible assets | $ 3,992,520 | $ 1,295,109 |
Totals | 4,063,104 | 1,365,693 |
Patents [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 31,033 | 30,855 |
Less: Accumulated amortization | (28,693) | (28,440) |
Net amortizable intangible assets | 2,340 | 2,415 |
Trade Names And Trademarks [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 170,983 | 98,661 |
Less: Accumulated amortization | (62,441) | (48,806) |
Net amortizable intangible assets | 108,542 | 49,855 |
Non-amortizing intangible assets | 70,584 | 70,584 |
Licenses [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 67,887 | 58,700 |
Less: Accumulated amortization | (54,315) | (52,452) |
Net amortizable intangible assets | 13,572 | 6,248 |
Core Technology [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 1,834,177 | 789,799 |
Less: Accumulated amortization | (494,310) | (398,992) |
Net amortizable intangible assets | 1,339,867 | 390,807 |
Customer Relationships [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 3,195,704 | 1,357,660 |
Less: Accumulated amortization | (673,425) | (522,820) |
Net amortizable intangible assets | 2,522,279 | 834,840 |
In Process Research and Development [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 5,920 | 10,944 |
Diagnostics [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Net amortizable intangible assets | 893,211 | 803,238 |
Totals | 893,211 | 803,238 |
Diagnostics [Member] | Patents [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 2,709 | 2,709 |
Less: Accumulated amortization | (732) | (507) |
Net amortizable intangible assets | 1,977 | 2,202 |
Diagnostics [Member] | Trade Names And Trademarks [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 79,683 | 47,518 |
Less: Accumulated amortization | (21,969) | (16,947) |
Net amortizable intangible assets | 57,714 | 30,571 |
Non-amortizing intangible assets | 0 | 0 |
Diagnostics [Member] | Licenses [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 8,410 | 8,232 |
Less: Accumulated amortization | (3,968) | (3,135) |
Net amortizable intangible assets | 4,442 | 5,097 |
Diagnostics [Member] | Core Technology [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 519,864 | 333,192 |
Less: Accumulated amortization | (208,833) | (166,344) |
Net amortizable intangible assets | 311,031 | 166,848 |
Diagnostics [Member] | Customer Relationships [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 884,105 | 881,912 |
Less: Accumulated amortization | (366,058) | (283,392) |
Net amortizable intangible assets | 518,047 | 598,520 |
Diagnostics [Member] | In Process Research and Development [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 0 | 0 |
Discovery & Analytical Solutions [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Net amortizable intangible assets | 3,099,309 | 491,871 |
Totals | 3,169,893 | 562,455 |
Discovery & Analytical Solutions [Member] | Patents [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 28,324 | 28,146 |
Less: Accumulated amortization | (27,961) | (27,933) |
Net amortizable intangible assets | 363 | 213 |
Discovery & Analytical Solutions [Member] | Trade Names And Trademarks [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 91,300 | 51,143 |
Less: Accumulated amortization | (40,472) | (31,859) |
Net amortizable intangible assets | 50,828 | 19,284 |
Non-amortizing intangible assets | 70,584 | 70,584 |
Discovery & Analytical Solutions [Member] | Licenses [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 59,477 | 50,468 |
Less: Accumulated amortization | (50,347) | (49,317) |
Net amortizable intangible assets | 9,130 | 1,151 |
Discovery & Analytical Solutions [Member] | Core Technology [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 1,314,313 | 456,607 |
Less: Accumulated amortization | (285,477) | (232,648) |
Net amortizable intangible assets | 1,028,836 | 223,959 |
Discovery & Analytical Solutions [Member] | Customer Relationships [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 2,311,599 | 475,748 |
Less: Accumulated amortization | (307,367) | (239,428) |
Net amortizable intangible assets | 2,004,232 | 236,320 |
Discovery & Analytical Solutions [Member] | In Process Research and Development [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | $ 5,920 | $ 10,944 |
Debt (Details)
Debt (Details) $ in Thousands | Mar. 08, 2021USD ($) | Jan. 02, 2022USD ($) | Sep. 10, 2021USD ($) | Aug. 24, 2021USD ($) | Aug. 11, 2021USD ($) | Jan. 03, 2021USD ($) |
Unamortized discount and debt issuance costs | $ 43,147 | |||||
Unamortized Debt Issuance Expense | 35,781 | $ 12,540 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 4,240 | |||||
2023 | 502,530 | |||||
2024 | 1,301,277 | |||||
2025 | 214 | |||||
2026 | 568,723 | |||||
2027 and Thereafter | 2,650,140 | |||||
Long-term Debt Before Unamortized Discount | 5,027,124 | |||||
Total | (4,983,977) | |||||
Other Long-term Debt, Current | 4,240 | 380,948 | ||||
Debt Instrument, Unamortized Discount | 7,366 | 5,765 | ||||
Debt, Current | 381,193 | |||||
Long-term Debt, Gross | 5,022,884 | 1,627,761 | ||||
Debt, Long-term and Short-term, Combined Amount | 5,027,124 | 2,008,954 | ||||
Current portion of long-term debt | 380,948 | |||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (4,979,737) | (1,609,701) | ||||
Debt, Long-term and Short-term, Combined Amount | 4,983,977 | 1,990,649 | ||||
Long-term Debt | ||||||
Unamortized Debt Issuance Expense | 35,781 | 12,311 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Unamortized Discount | 7,366 | 5,749 | ||||
Long-term Debt - Current Portion [Member] | ||||||
Unamortized Debt Issuance Expense | 229 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Unamortized Discount | 16 | |||||
Senior Unsecured Notes Issued on March 8, 2021 and September 10, 2021 [Member] | ||||||
Debt Instrument, Redemption Percentage Upon Change of Control and Downgrade of Debt Instrument | 101.00% | |||||
Line of Credit, Maturing September 17, 2024 [Member] | ||||||
Aggregate borrowings under the amended facility | 158,595 | |||||
Unamortized Debt Issuance Expense | 2,621 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (155,974) | |||||
Debt Instrument, Unamortized Discount | 0 | |||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | ||||||
Unamortized Debt Issuance Expense | 229 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Unamortized Discount | 16 | |||||
Current portion of long-term debt | 366,450 | |||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Current portion of long-term debt | 366,205 | |||||
3.3 Percent Ten Year Senior Unsecured Notes due in Sept 2029 [Member] | ||||||
Unamortized discount and debt issuance costs | 8,486 | |||||
Unamortized Debt Issuance Expense | 6,234 | 6,908 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 850,000 | |||||
Long-term Debt Before Unamortized Discount | 850,000 | |||||
Total | (841,514) | |||||
Debt Instrument, Unamortized Discount | 2,252 | 2,496 | ||||
Long-term Debt, Gross | 850,000 | 850,000 | ||||
3.3 Percent Ten Year Senior Unsecured Notes due in Sept 2029 [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (841,514) | (840,596) | ||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | ||||||
Unamortized discount and debt issuance costs | 4,818 | |||||
Unamortized Debt Issuance Expense | 2,280 | 2,782 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 568,600 | |||||
2027 and Thereafter | 0 | |||||
Long-term Debt Before Unamortized Discount | 568,600 | |||||
Total | (563,782) | |||||
Debt Instrument, Unamortized Discount | 2,538 | 3,253 | ||||
Long-term Debt, Gross | 568,600 | 610,750 | ||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (563,782) | (604,715) | ||||
Line of Credit, Maturing August 24, 2026 | ||||||
Unsecured revolving credit facility, amount | $ 1,500,000 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | 1,490,000 | |||||
Letters of credit issued and outstanding | 11,000 | |||||
Aggregate borrowings under the amended facility | 0 | |||||
Unamortized discount and debt issuance costs | 3,362 | |||||
Unamortized Debt Issuance Expense | 3,362 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 0 | |||||
Long-term Debt Before Unamortized Discount | 0 | |||||
Total | (3,362) | |||||
Debt Instrument, Unamortized Discount | $ 0 | |||||
Line of Credit, Maturing August 24, 2026 | Unsecured Revolving Credit Facility [Member] | Base Rate Option Two [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||
Line of Credit, Maturing August 24, 2026 | Unsecured Revolving Credit Facility [Member] | Base Rate Option Three [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||
Term Loan Credit Facility Maturing 2024 | ||||||
Unsecured revolving credit facility, amount | $ 500,000 | |||||
Unamortized discount and debt issuance costs | $ 672 | |||||
Unamortized Debt Issuance Expense | 658 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 500,000 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 0 | |||||
Long-term Debt Before Unamortized Discount | 500,000 | |||||
Total | (499,328) | |||||
Debt Instrument, Unamortized Discount | 14 | |||||
Long-term Debt, Gross | 500,000 | |||||
Term Loan Credit Facility Maturing 2024 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | $ (499,328) | |||||
Term Loan Credit Facility Maturing 2024 | Term Loan Credit Facility [Member] | Base Rate Option Two [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||
Term Loan Credit Facility Maturing 2024 | Term Loan Credit Facility [Member] | Base Rate Option Three [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||
Eurocurrency Margin Basis Point | 113 | |||||
Term Loan Credit Facility Maturing 2024 | Term Loan Credit Facility [Member] | Weighted average Eurocurrency interest rate | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.10% | |||||
Term Loan Credit Facility Maturing 2024 | Term Loan Credit Facility [Member] | Weighted average effective Eurocurrency Rate, including the margin | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.23% | |||||
0.550% Senior Unsecured Notes due 2023 | ||||||
Unsecured senior notes, interest rate percent | 0.55% | |||||
Unsecured senior notes, face value | $ 500,000 | |||||
Unamortized discount and debt issuance costs | $ 2,245 | |||||
Unamortized Debt Issuance Expense | 2,093 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 500,000 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 0 | |||||
Long-term Debt Before Unamortized Discount | 500,000 | |||||
Total | (497,755) | |||||
Debt Instrument, Unamortized Discount | 152 | |||||
Long-term Debt, Gross | 500,000 | |||||
0.550% Senior Unsecured Notes due 2023 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (497,755) | |||||
0.850% Senior Unsecured Notes due 2024 | ||||||
Unsecured senior notes, interest rate percent | 0.85% | |||||
Unsecured senior notes, face value | $ 800,000 | |||||
Unamortized discount and debt issuance costs | 5,392 | |||||
Unamortized Debt Issuance Expense | 4,945 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 800,000 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 0 | |||||
Long-term Debt Before Unamortized Discount | 800,000 | |||||
Total | (794,608) | |||||
Debt Instrument, Unamortized Discount | 447 | |||||
Long-term Debt, Gross | 800,000 | |||||
0.850% Senior Unsecured Notes due 2024 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (794,608) | |||||
1.900% Senior Unsecured Notes due 2028 | ||||||
Unsecured senior notes, interest rate percent | 1.90% | |||||
Unsecured senior notes, face value | $ 500,000 | |||||
Unamortized discount and debt issuance costs | 4,548 | |||||
Unamortized Debt Issuance Expense | 4,200 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 500,000 | |||||
Long-term Debt Before Unamortized Discount | 500,000 | |||||
Total | (495,452) | |||||
Debt Instrument, Unamortized Discount | 348 | |||||
Long-term Debt, Gross | 500,000 | |||||
1.900% Senior Unsecured Notes due 2028 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (495,452) | |||||
2.55 Percent Senior Unsecured Notes due in 2031 | ||||||
Unsecured senior notes, interest rate percent | 2.55% | |||||
Unsecured senior notes, face value | $ 400,000 | |||||
Unamortized discount and debt issuance costs | 3,420 | |||||
Unamortized Debt Issuance Expense | 3,294 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 400,000 | |||||
Long-term Debt Before Unamortized Discount | 400,000 | |||||
Total | (396,580) | |||||
Debt Instrument, Unamortized Discount | 126 | |||||
Long-term Debt, Gross | 400,000 | |||||
2.55 Percent Senior Unsecured Notes due in 2031 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (396,580) | |||||
2.250% Senior Unsecured Notes due in 2031 | ||||||
Unsecured senior notes, interest rate percent | 2.25% | |||||
Unsecured senior notes, face value | $ 500,000 | |||||
Unamortized discount and debt issuance costs | 5,865 | |||||
Unamortized Debt Issuance Expense | 4,380 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 500,000 | |||||
Long-term Debt Before Unamortized Discount | 500,000 | |||||
Total | (494,135) | |||||
Debt Instrument, Unamortized Discount | 1,485 | |||||
Long-term Debt, Gross | 500,000 | |||||
2.250% Senior Unsecured Notes due in 2031 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (494,135) | |||||
3.625 Percent Senior Unsecured Notes due in 2051 | ||||||
Unsecured senior notes, interest rate percent | 3.625% | |||||
Unsecured senior notes, face value | $ 400,000 | |||||
Unamortized discount and debt issuance costs | 4,339 | |||||
Unamortized Debt Issuance Expense | 4,335 | |||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 0 | |||||
2023 | 0 | |||||
2024 | 0 | |||||
2025 | 0 | |||||
2026 | 0 | |||||
2027 and Thereafter | 400,000 | |||||
Long-term Debt Before Unamortized Discount | 400,000 | |||||
Total | (395,661) | |||||
Debt Instrument, Unamortized Discount | 4 | |||||
Long-term Debt, Gross | 400,000 | |||||
3.625 Percent Senior Unsecured Notes due in 2051 | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Total | (395,661) | |||||
Other Debt Facilities - Non-current | ||||||
Unamortized Debt Issuance Expense | 0 | 0 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
Other Long-term Debt, Noncurrent | 4,284 | 8,416 | ||||
Debt Instrument, Unamortized Discount | 0 | 0 | ||||
Other Debt Facilities - Non-current | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Other Long-term Debt, Noncurrent | 4,284 | 8,416 | ||||
Other Debt Facilities - Current | ||||||
Unamortized discount and debt issuance costs | 0 | |||||
Unamortized Debt Issuance Expense | 0 | 0 | ||||
Maturities of Long-term Debt [Abstract] | ||||||
2022 | 4,240 | |||||
2023 | 2,530 | |||||
2024 | 1,277 | |||||
2025 | 214 | |||||
2026 | 123 | |||||
2027 and Thereafter | 140 | |||||
Long-term Debt Before Unamortized Discount | 8,524 | |||||
Total | (8,524) | |||||
Other Long-term Debt, Current | 4,240 | 14,743 | ||||
Debt Instrument, Unamortized Discount | 0 | 0 | ||||
Other Debt Facilities - Current | Fair Value, Inputs, Level 2 [Member] | ||||||
Maturities of Long-term Debt [Abstract] | ||||||
Other Long-term Debt, Current | $ 4,240 | $ 14,743 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | |||
Payroll and incentives | $ 106,338 | $ 96,502 | |
Employee benefits | 54,058 | 47,489 | |
Deferred revenue | 226,331 | 206,494 | |
Federal, non-U.S. and state income taxes | 90,963 | 97,406 | |
Operating Lease liabilities, Accrued, Current | 40,567 | 40,330 | |
Contract with Customer, Liability, Current | 201,073 | 238,115 | $ 29,944 |
Contract Liability, Accrued, Current | 77,178 | 189,718 | |
Other accrued operating expenses | 258,611 | 265,977 | |
Accrued expenses and other current liabilities | $ 854,046 | $ 943,916 |
Employee Benefit Plans (Schedul
Employee Benefit Plans (Schedule of Net Benefit Costs, Pension Plans) (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 5,174 | $ 7,414 | $ 6,598 |
Interest cost | 9,440 | 12,876 | 16,546 |
Expected return on plan assets | (24,417) | (21,786) | (24,561) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment | 0 | 0 | 1,547 |
Actuarial loss (gain) | (19,514) | 20,291 | 27,134 |
Amortization of prior service cost | 0 | 0 | (152) |
Net periodic benefit cost | $ (29,317) | $ 18,795 | $ 24,018 |
Employee Benefit Plans (Sched_2
Employee Benefit Plans (Schedule of Net Funded Status, Pension Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 | |
Actuarial assumptions as of the year-end measurement date: | ||||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | $ 189,349 | $ 224,499 | ||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | 0 | 0 | ||
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | 191,285 | 226,890 | ||
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets | 0 | 0 | ||
Foreign Plan [Member] | ||||
Change in plan assets: | ||||
Employer's contributions | 6,900 | 7,500 | $ 8,200 | |
UNITED STATES | ||||
Change in plan assets: | ||||
Employer's contributions | $ 20,000 | |||
Other Pension Plan [Member] | ||||
Actuarial assumptions as of the year-end measurement date: | ||||
Rate of compensation increase | 2.78% | |||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||
Net amounts recognized in the consolidated balance sheets consist of: | ||||
Net amounts recognized in the consolidated balance sheets | (20,700) | $ (19,000) | ||
Foreign Plan [Member] | ||||
Actuarial present value of benefit obligations: [Abstract] | ||||
Accumulated benefit obligations | 337,454 | 392,948 | ||
Change in benefit obligations: | ||||
Projected benefit obligations at beginning of year | 395,339 | 341,455 | ||
Service cost | 4,924 | 5,314 | ||
Interest cost | 2,632 | 3,991 | ||
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant | 0 | 37 | ||
Defined Benefit Plan, Benefit Obligation, Business Combination | 0 | (120) | ||
Actuarial loss (gain) | (30,705) | 35,910 | ||
Effect of exchange rate changes | (17,501) | 24,575 | ||
Projected benefit obligations at end of year | 339,390 | 395,339 | 341,455 | |
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 204,744 | 179,860 | ||
Actual return on plan assets | (13,115) | 25,153 | ||
Benefits paid and plan expenses | (15,299) | (15,823) | ||
Employer's contributions | 6,851 | 7,506 | ||
Participant's contributions | 0 | 37 | ||
Effect of exchange rate changes | (1,992) | 8,011 | ||
Fair value of plan assets at end of year | 181,189 | 204,744 | $ 179,860 | |
Net amounts recognized in the consolidated balance sheets consist of: | ||||
Net amounts recognized in the consolidated balance sheets | (158,201) | (190,595) | ||
Assets for Plan Benefits, Defined Benefit Plan | 33,084 | 36,295 | ||
Current liabilities | (6,966) | (7,597) | ||
Noncurrent liabilities | $ (184,319) | $ (219,293) | ||
Actuarial assumptions as of the year-end measurement date: | ||||
Discount rate | 1.41% | 0.92% | 1.34% | 2.07% |
Rate of compensation increase | 2.78% | 2.78% | 3.36% | 3.48% |
Expected rate of return on assets | 2.10% | 2.20% | 5.30% | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | $ 15,299 | $ 15,823 | ||
UNITED STATES | ||||
Actuarial present value of benefit obligations: [Abstract] | ||||
Accumulated benefit obligations | 299,826 | 317,679 | ||
Change in benefit obligations: | ||||
Projected benefit obligations at beginning of year | 317,679 | 304,710 | ||
Service cost | 250 | 2,100 | ||
Interest cost | 6,808 | 8,885 | ||
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant | 0 | 0 | ||
Defined Benefit Plan, Benefit Obligation, Business Combination | 0 | 0 | ||
Actuarial loss (gain) | (6,218) | 22,494 | ||
Effect of exchange rate changes | 0 | 0 | ||
Projected benefit obligations at end of year | 299,826 | 317,679 | $ 304,710 | |
Change in plan assets: | ||||
Fair value of plan assets at beginning of year | 268,686 | 254,450 | ||
Actual return on plan assets | 20,123 | 34,746 | ||
Benefits paid and plan expenses | (18,693) | (20,510) | ||
Employer's contributions | 20,000 | 0 | ||
Participant's contributions | 0 | 0 | ||
Effect of exchange rate changes | 0 | 0 | ||
Fair value of plan assets at end of year | 290,116 | 268,686 | $ 254,450 | |
Net amounts recognized in the consolidated balance sheets consist of: | ||||
Net amounts recognized in the consolidated balance sheets | (9,710) | (48,993) | ||
Assets for Plan Benefits, Defined Benefit Plan | 0 | 0 | ||
Current liabilities | 0 | 0 | ||
Noncurrent liabilities | $ (9,710) | $ (48,993) | ||
Actuarial assumptions as of the year-end measurement date: | ||||
Discount rate | 2.44% | 2.21% | 3.01% | 4.05% |
Rate of compensation increase | 0.00% | 0.00% | 0.00% | 0.00% |
Expected rate of return on assets | 7.25% | 7.25% | 7.25% | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | $ 18,693 | $ 20,510 |
Employee Benefit Plans (Sched_3
Employee Benefit Plans (Schedule of Allocation of Plan Assets, Pension Plans) (Details) | 12 Months Ended | ||
Jan. 01, 2023 | Jan. 02, 2022 | Jan. 03, 2021 | |
Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 100.00% | 100.00% | |
UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 100.00% | 100.00% | |
Other Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 100.00% | 12.00% | |
Other Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 0.00% | 0.00% | |
Debt Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 0.00% | 88.00% | |
Debt Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 54.00% | 55.00% | |
Equity Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 0.00% | 0.00% | |
Equity Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 46.00% | 45.00% | |
Forecast [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 100.00% | ||
Forecast [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Equity Securities | 100.00% | ||
Forecast [Member] | Minimum [Member] | Equity Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 0.00% | ||
Forecast [Member] | Minimum [Member] | Equity Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 40.00% | ||
Forecast [Member] | Minimum [Member] | Debt Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 0.00% | ||
Forecast [Member] | Minimum [Member] | Debt Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 40.00% | ||
Forecast [Member] | Minimum [Member] | Trading Assets, Excluding Debt and Equity Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 95.00% | ||
Forecast [Member] | Minimum [Member] | Trading Assets, Excluding Debt and Equity Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 0.00% | ||
Forecast [Member] | Maximum [Member] | Equity Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 5.00% | ||
Forecast [Member] | Maximum [Member] | Equity Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 60.00% | ||
Forecast [Member] | Maximum [Member] | Debt Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 5.00% | ||
Forecast [Member] | Maximum [Member] | Debt Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 60.00% | ||
Forecast [Member] | Maximum [Member] | Trading Assets, Excluding Debt and Equity Securities [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 100.00% | ||
Forecast [Member] | Maximum [Member] | Trading Assets, Excluding Debt and Equity Securities [Member] | UNITED STATES | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit, Target Asset Allocation Percentage | 10.00% |
Employee Benefit Plans (Sched_4
Employee Benefit Plans (Schedule of Changes in Fair Value of Plan Assets, Pension Plans) (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 471,305 | $ 473,430 | ||
Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22,241 | 6,363 | ||
Equity Securities, U.S. Large-cap [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 91,601 | 78,234 | ||
Equity Securities, International large-cap value[Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 29,803 | 28,315 | ||
Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 12,603 | 13,594 | ||
Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 23,259 | ||
Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 106,315 | |||
Fixed Income Funds, Corporate Debt Instruments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 133,727 | 140,349 | ||
Fixed Income Funds, Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 15,650 | 35,816 | ||
Fixed Income Funds, High Yield Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 2,954 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 38,231 | |||
Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 165,680 | |||
Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 197,973 | 172,960 | ||
Fair Value, Inputs, Level 1 [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22,241 | 6,363 | ||
Fair Value, Inputs, Level 1 [Member] | Equity Securities, U.S. Large-cap [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 91,601 | 78,234 | ||
Fair Value, Inputs, Level 1 [Member] | Equity Securities, International large-cap value[Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 29,803 | 28,315 | ||
Fair Value, Inputs, Level 1 [Member] | Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 12,603 | 13,594 | ||
Fair Value, Inputs, Level 1 [Member] | Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds, Corporate Debt Instruments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 41,725 | 43,500 | ||
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds, Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Fixed Income Funds, High Yield Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 2,954 | |||
Fair Value, Inputs, Level 1 [Member] | Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 1 [Member] | Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 107,652 | 277,211 | ||
Fair Value, Inputs, Level 2 [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Equity Securities, U.S. Large-cap [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Equity Securities, International large-cap value[Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 106,315 | |||
Fair Value, Inputs, Level 2 [Member] | Fixed Income Funds, Corporate Debt Instruments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 92,002 | 96,849 | ||
Fair Value, Inputs, Level 2 [Member] | Fixed Income Funds, Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 15,650 | 35,816 | ||
Fair Value, Inputs, Level 2 [Member] | Fixed Income Funds, High Yield Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 2 [Member] | Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 38,231 | |||
Fair Value, Inputs, Level 2 [Member] | Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 165,680 | 23,259 | $ 24,409 | $ 39,130 |
Fair Value, Inputs, Level 3 [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, U.S. Large-cap [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, International large-cap value[Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 23,259 | 22,688 | 22,196 |
Fair Value, Inputs, Level 3 [Member] | Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Fixed Income Funds, Corporate Debt Instruments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Fixed Income Funds, Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Fixed Income Funds, High Yield Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Other Types of Investments, Multi-strategy hedge funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | 1,721 | 16,934 |
Fair Value, Inputs, Level 3 [Member] | Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 165,680 | $ 0 | $ 0 | $ 0 |
Employee Benefit Plans (Sched_5
Employee Benefit Plans (Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets, Pension Plans) (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | $ 473,430 | |||
Fair value of plan assets at end of year | 471,305 | $ 473,430 | ||
Foreign liability driven investment [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at end of year | 165,680 | |||
Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 23,259 | |||
Fair value of plan assets at end of year | 0 | 23,259 | ||
Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 13,594 | |||
Fair value of plan assets at end of year | 12,603 | 13,594 | ||
Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 106,315 | |||
Fair value of plan assets at end of year | 106,315 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 38,231 | |||
Fair value of plan assets at end of year | 38,231 | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | (23,115) | (1,721) | $ (15,586) | |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 165,680 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 23,259 | 24,409 | 39,130 | |
Defined Benefit Plan, Realized losses | (226) | |||
Fair value of plan assets at end of year | 165,680 | 23,259 | 24,409 | $ 39,130 |
Defined Benefit Plan, Unrealized Gains | (3,310) | 571 | ||
Defined Benefit Plan, Realized Gains | 82 | 4,175 | ||
Fair Value, Inputs, Level 3 [Member] | Multi-strategy hedge funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | 0 | (1,721) | (15,586) | |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 0 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 0 | 1,721 | 16,934 | |
Defined Benefit Plan, Realized losses | 0 | |||
Fair value of plan assets at end of year | 0 | 0 | 1,721 | 16,934 |
Defined Benefit Plan, Unrealized Gains | (3,802) | 0 | ||
Defined Benefit Plan, Realized Gains | 0 | 4,175 | ||
Fair Value, Inputs, Level 3 [Member] | Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | 0 | 0 | 0 | |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 165,680 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 0 | 0 | 0 | |
Defined Benefit Plan, Realized losses | 0 | |||
Fair value of plan assets at end of year | 165,680 | 0 | 0 | 0 |
Defined Benefit Plan, Unrealized Gains | 0 | 0 | ||
Defined Benefit Plan, Realized Gains | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | (23,115) | 0 | 0 | |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 0 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 23,259 | 22,688 | 22,196 | |
Defined Benefit Plan, Realized losses | (226) | |||
Fair value of plan assets at end of year | 0 | 23,259 | 22,688 | 22,196 |
Defined Benefit Plan, Unrealized Gains | 492 | $ 571 | ||
Defined Benefit Plan, Realized Gains | 82 | $ 0 | ||
Fair Value, Inputs, Level 3 [Member] | Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 0 | |||
Fair value of plan assets at end of year | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | 0 | |||
Fair value of plan assets at end of year | 0 | |||
Fair Value, Inputs, Level 3 [Member] | Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||
Fair value of plan assets at beginning of year | $ 0 | |||
Fair value of plan assets at end of year | $ 0 |
Employee Benefit Plans (Sched_6
Employee Benefit Plans (Schedule of Expected Benefit Payments, Pension Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Jan. 01, 2023 | |
Foreign Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
2018 | $ 12,538 | |||
2019 | 12,791 | |||
2020 | 13,461 | |||
2021 | 13,504 | |||
2022 | 13,898 | |||
2023-2026 | 68,663 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 6,900 | $ 7,500 | $ 8,200 | |
Foreign Plan [Member] | Forecast [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected contributions in next fiscal year | $ 7,000 | |||
UNITED STATES | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
2018 | 19,419 | |||
2019 | 19,459 | |||
2020 | 19,427 | |||
2021 | 19,368 | |||
2022 | 19,184 | |||
2023-2026 | $ 90,272 | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 20,000 |
Employee Benefit Plans (Sched_7
Employee Benefit Plans (Schedule of Net Benefit Costs, Other Postretirement Benefits) (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 5,174 | $ 7,414 | $ 6,598 |
Interest cost | 9,440 | 12,876 | 16,546 |
Expected return on plan assets | (24,417) | (21,786) | (24,561) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment | 0 | 0 | 1,547 |
Actuarial loss (gain) | 19,514 | (20,291) | (27,134) |
Amortization of prior service cost | 0 | 0 | (152) |
Net periodic benefit cost | $ (29,317) | $ 18,795 | $ 24,018 |
Employee Benefit Plans (Sched_8
Employee Benefit Plans (Schedule of Net Funded Status, Other Postretirement Benefit Plans) (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Net amounts recognized in the consolidated balance sheets | $ (20,700) | $ (19,000) |
Employee Benefit Plans (Sched_9
Employee Benefit Plans (Schedule of Changes in Fair Value of Plan Assets, Other Postretirement Benefit Plans) (Details) - Pension Plans, Defined Benefit - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 471,305 | $ 473,430 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 197,973 | 172,960 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 107,652 | 277,211 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 165,680 | 23,259 | $ 24,409 | $ 39,130 |
Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22,241 | 6,363 | ||
Cash [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22,241 | 6,363 | ||
Cash [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Cash [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, U.S. Large-cap [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 91,601 | 78,234 | ||
Equity Securities, U.S. Large-cap [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 91,601 | 78,234 | ||
Equity Securities, U.S. Large-cap [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, U.S. Large-cap [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, International large-cap value[Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 29,803 | 28,315 | ||
Equity Securities, International large-cap value[Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 29,803 | 28,315 | ||
Equity Securities, International large-cap value[Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, International large-cap value[Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, Foreign Real Estate Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 23,259 | ||
Equity Securities, Foreign Real Estate Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, Foreign Real Estate Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, Foreign Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 23,259 | 22,688 | 22,196 |
Fixed Income Funds, Corporate Debt Instruments [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 133,727 | 140,349 | ||
Fixed Income Funds, Corporate Debt Instruments [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 41,725 | 43,500 | ||
Fixed Income Funds, Corporate Debt Instruments [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 92,002 | 96,849 | ||
Fixed Income Funds, Corporate Debt Instruments [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fixed Income Funds, Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 15,650 | 35,816 | ||
Fixed Income Funds, Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fixed Income Funds, Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 15,650 | 35,816 | ||
Fixed Income Funds, Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Fixed Income Funds, High Yield Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 2,954 | |||
Fixed Income Funds, High Yield Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 2,954 | |||
Fixed Income Funds, High Yield Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Fixed Income Funds, High Yield Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Other Types of Investments, Multi-strategy hedge funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | 1,721 | 16,934 |
Foreign liability driven investment [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 165,680 | |||
Foreign liability driven investment [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Foreign liability driven investment [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Foreign liability driven investment [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 165,680 | 0 | $ 0 | $ 0 |
Equity Securities, Emerging Markets Growth [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 12,603 | 13,594 | ||
Equity Securities, Emerging Markets Growth [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 12,603 | 13,594 | ||
Equity Securities, Emerging Markets Growth [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Equity Securities, Emerging Markets Growth [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 0 | 0 | ||
Debt Security, Government, Non-US [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 106,315 | |||
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 106,315 | |||
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 38,231 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 38,231 | |||
Other Types of Investments, Non U.S. Government Index Linked Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 0 |
Employee Benefit Plans (Sche_10
Employee Benefit Plans (Schedule of Expected Benefit Payments, Other Postretirement Benefits) (Details) - USD ($) $ in Thousands | Jan. 01, 2023 | Jan. 02, 2022 |
Foreign Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
2018 | $ 12,538 | |
2019 | 12,791 | |
2020 | 13,461 | |
2021 | 13,504 | |
2022 | 13,898 | |
2023-2026 | 68,663 | |
UNITED STATES | ||
Defined Benefit Plan Disclosure [Line Items] | ||
2018 | 19,419 | |
2019 | 19,459 | |
2020 | 19,427 | |
2021 | 19,368 | |
2022 | 19,184 | |
2023-2026 | $ 90,272 | |
Forecast [Member] | Foreign Plan [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 7,000 |
Employee Benefit Plans (Savings
Employee Benefit Plans (Savings Plan) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, 401(k) Savings Plan, Employer Contribution Match of Employees Eligible Compensation | 100.00% | ||
Defined Benefit Plan, 401(k) Savings Plan, Maximum Employee Match Percent for Employer Match | 5.00% | ||
Defined Benefit, 401(k) Savings Plan Expense | $ 16.5 | $ 14.1 | $ 13.6 |
Employee Benefit Plans (Supplem
Employee Benefit Plans (Supplemental Executive Retirement Plan) (Details) - Supplemental Employee Retirement Plans, Defined Benefit [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Projected benefit obligation | $ 24.1 | $ 25.9 | |
Fair value of plan assets | 1.6 | 1.9 | |
Pension expense | $ 0.2 | $ 2.1 | $ 4.8 |
Employee Benefit Plans (Nonqual
Employee Benefit Plans (Nonqualified Deferred Compensation Plans) (Details) - USD ($) $ in Millions | Jan. 02, 2022 | Jan. 03, 2021 |
Management [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Deferred Compensation Arrangement with Individual, Recorded Liability | $ 0.3 | $ 0.6 |
Contingencies (Details)
Contingencies (Details) $ in Millions | 12 Months Ended | |
Jan. 02, 2022USD ($)years | Jan. 03, 2021USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | ||
Management's estimate of total cost of ultimate disposition of known environmental matters | $ | $ 11.9 | $ 12.9 |
Number of years over which estimated environmental cost will be paid | years | 10 |
Stock Plans (Narrative) (Detail
Stock Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total income tax benefit recognized for stock-based compensation | $ 14,000 | $ 17,200 | $ 11,600 |
Aggregate intrinsic value for stock options outstanding | $ 97,400 | ||
Weighted average remaining contractual term of options (in years) | 5 years 1 month 6 days | ||
Aggregate intrinsic value for stock options exercisable | $ 50,100 | ||
Weighted average remaining contractual term of options exercisable (in years) | 3 years | ||
Number of shares vested and expected to vest in the future | 1,200,000 | ||
Aggregate intrinsic value of vested and expected to vest stock options | $ 97,400 | ||
Weighted average remaining contractual term for options vested and expected to vest | 5 years 1 month 6 days | ||
Total pre-tax stock-based compensation expense | $ 32,780 | 29,126 | 31,514 |
Acceleration of executive compensation | 7,700 | ||
Restricted Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant-date fair value of stock granted (per share) | $ 159.60 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 27,000 | ||
Fair value of restricted stock awards vested | $ 11,600 | 14,000 | 12,000 |
Total pre-tax stock-based compensation expense | 18,800 | $ 10,800 | $ 12,700 |
Total unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock, granted | $ 72,300 | ||
Shares/units granted | 508,000 | ||
Awards/units outstanding | 637,000 | 296,000 | |
Weighted-average period for recognition of unrecognized compensation cost, years | 1 year 10 months 24 days | ||
Option vesting period (in years) | 3 years | ||
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized under plan | 5,000,000 | ||
Weighted-average grant-date fair value of stock granted (per share) | $ 168.11 | $ 105.23 | $ 82.25 |
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date | 95.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | ||
Shares/units granted | 21,578 | 38,727 | 33,843 |
Shares available for grant under employee stock purchase plan | 800,000 | ||
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted-average grant-date fair value of options | $ 40 | $ 18.98 | $ 22.63 |
Total intrinsic value of options exercised | $ 32,400 | $ 51,100 | $ 19,100 |
Cash received from option exercises | 25,100 | 37,700 | 19,700 |
Total pre-tax stock-based compensation expense | 6,300 | $ 3,600 | $ 6,700 |
Total unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock, granted | $ 22,500 | ||
Weighted-average period for recognition of unrecognized compensation cost, years | 2 years 6 months | ||
Option vesting period (in years) | 3 years | ||
Stock Options Expiration Period After Date of Grant | 7 years | ||
2019 Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized under plan | 6,250,000 |
Stock Plans (Summary of Total C
Stock Plans (Summary of Total Compensation Recognized Related to Outstanding Stock Options) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | $ 32,780 | $ 29,126 | $ 31,514 |
Cost of sales [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | 3,706 | 1,388 | 1,620 |
Research and development expenses [Member ] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | 2,759 | 1,228 | 1,061 |
Selling, general and administrative and other expenses [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | $ 26,315 | $ 26,510 | $ 28,833 |
Stock Plans (Weighted-Average A
Stock Plans (Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model) (Details) | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Share-based Payment Arrangement [Abstract] | |||
Risk-free interest rate | 0.90% | 0.90% | 2.50% |
Expected dividend yield | 0.20% | 0.30% | 0.30% |
Expected lives, years | 5 years | 5 years | 5 years |
Expected stock volatility | 27.30% | 23.80% | 22.80% |
Stock Plans (Summary of Stock O
Stock Plans (Summary of Stock Option Activity) (Details) shares in Thousands | 12 Months Ended |
Jan. 02, 2022$ / sharesshares | |
Stock option activity | |
Shares outstanding at beginning of the year | 961 |
Shares granted | 625 |
Shares exercised | (359) |
Shares forfeited | (35) |
Shares outstanding at end of year | 1,192 |
Shares exercisable at end of year | 383 |
Number of shares vested and expected to vest in the future | 1,200 |
Weighted-average price, outstanding at beginning of year (per share) | $ / shares | $ 74.40 |
Weighted-average price, granted (per share) | $ / shares | 159.65 |
Weighted-average price, exercised (per share) | $ / shares | 70.44 |
Weighted-average price, forfeited (per share) | $ / shares | 107.70 |
Weighted-average price, outstanding at end of year (per share) | $ / shares | 119.33 |
Weighted-average price, exercisable at end of year (per share) | $ / shares | $ 70.27 |
Stock Plans (Summary of Restric
Stock Plans (Summary of Restricted Stock Award Activity) (Details) - Restricted Stock Awards [Member] shares in Thousands | 12 Months Ended |
Jan. 02, 2022$ / sharesshares | |
Restricted stock award activity | |
Nonvested at beginning of year | shares | 296 |
Shares, granted | shares | 508 |
Shares, vested | shares | (140) |
Shares, forfeited | shares | (27) |
Nonvested at end of year | shares | 637 |
Weighted-average grant-date fair value, nonvested at beginning of year (per share) | $ / shares | $ 85.67 |
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | 159.60 |
Weighted-average grant-date fair value, vested (per share) | $ / shares | 82.93 |
Weighted-average grant-date fair value, forfeited (per share) | $ / shares | 99.56 |
Weighted-average grant-date fair value, nonvested at end of year (per share) | $ / shares | $ 144.62 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Apr. 03, 2022 | Jan. 02, 2022 | Oct. 03, 2021 | Jul. 04, 2021 | Apr. 04, 2021 | Oct. 04, 2020 | Jul. 05, 2020 | Apr. 05, 2020 | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Jul. 31, 2020 | |
Schedule of Stockholders' Equity [Line Items] | ||||||||||||
Repurchased Common Shares For Activity Pursuant to Equity Incentive Plans | 71,248 | 72,251 | 68,536 | |||||||||
Aggregate Cost of Repurchased Common Shares for Activity Pursuant to Equity Incentive Plans | $ 10,500 | $ 6,900 | $ 6,300 | |||||||||
Cash dividends (per share) | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | |||||
Cost of Repurchased Common Shares, Repurchase Plan and Amount for Statutory Tax Withholding Obligations | 73,072 | 6,944 | 6,313 | |||||||||
Dividends accrued | $ 8,800 | 8,800 | ||||||||||
Unrecognized prior service (cost) credit, net of tax | (95) | (1,799) | 807 | |||||||||
Unrecognized prior service credit (cost), net of tax1 | $ (100) | $ (1,800) | $ 800 | |||||||||
Repurchase Program, 07/31/2020 [Member] | ||||||||||||
Schedule of Stockholders' Equity [Line Items] | ||||||||||||
Number of common stock repurchased in open market | 433,000 | |||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 187,400 | $ 187,400 | ||||||||||
Stock Repurchase Program, Authorized Amount | $ 250,000 | |||||||||||
Aggregate Cost of Repurchased Common Shares Under Repurchase Program | $ 62,600 | |||||||||||
Subsequent Event [Member] | ||||||||||||
Schedule of Stockholders' Equity [Line Items] | ||||||||||||
Cash dividends (per share) | $ 0.07 | |||||||||||
Dividends Payable, Date Declared | Jan. 27, 2022 |
Stockholders' Equity (Component
Stockholders' Equity (Components Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 | |
Cumulative Translation Adjustment Summary [Roll Forward] | ||||
Foreign currency translation adjustment, net of tax, beginning of year | $ (30,937) | $ (200,437) | $ (176,459) | |
Current year change | (130,873) | 169,500 | (23,978) | |
Foreign currency translation adjustment, net of tax, end of year | (161,810) | (30,937) | (200,437) | |
Other Comprehensive Income (Loss), after Reclassifications, Net of Tax | (130,731) | 167,685 | (23,165) | |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (23,165) | |||
Unrecognized prior service costs, net of tax | (842) | (747) | 1,052 | $ 245 |
Unrecognized prior service costs, net of tax, current year change | (95) | (1,799) | 807 | |
Unrealized (losses) gains on securities, net of tax | (40) | (277) | (261) | (267) |
Unrealized (losses) gains on securities, net of tax, current year change | 237 | (16) | 6 | |
Other comprehensive income (loss) | (130,731) | 167,685 | (23,165) | |
Accumulated other comprehensive income (loss) | $ (162,692) | $ (31,961) | $ (199,646) | $ (176,481) |
Derivatives And Hedging Activ_2
Derivatives And Hedging Activities (Details) $ in Thousands, € in Millions | 3 Months Ended | 12 Months Ended | ||||
Jan. 02, 2022USD ($) | Jan. 02, 2022USD ($) | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | Jan. 03, 2021EUR (€) | Dec. 29, 2019EUR (€) | |
Derivative [Line Items] | ||||||
Company's business conducted outside United States | 60.00% | |||||
Payments for (Proceeds from) Hedge, Financing Activities | $ 4,482 | $ 4,554 | $ 1,280 | |||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 0 | $ 0 | ||||
European And Asian Currencies [Member] | ||||||
Derivative [Line Items] | ||||||
Maximum maturity period for foreign exchange contracts, in months | 12 months | |||||
Duration of foreign currency derivative contract, days | 30 days | |||||
Fair Value Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | 371,900 | $ 371,900 | 808,000 | 277,600 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||||
Derivative [Line Items] | ||||||
Foreign Currency Contract, Asset, Fair Value Disclosure | (3,765) | (3,765) | (31,248) | |||
Notional Amount of US Dollar Derivatives [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | 360,200 | 360,200 | 499,000 | 5,600 | ||
Notional Amount of Euro Derivatives [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | € | € 33.4 | € 105.8 | ||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Unrealized Gain (Loss) on Derivatives | (29,300) | |||||
Realized Losses (Gains) on Derivatives | 9,500 | |||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | Cash Flow Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Realized Losses (Gains) on Derivatives | $ 8,700 | |||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | Net Investment Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Notional Amount of Nonderivative Instruments | 497,200 | |||||
Unrealized Gain (Loss) on Net Investment Hedge in AOCI | $ 33,200 | $ (49,600) | $ 4,900 | |||
Euro Member Countries, Euro | Cross-currency Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Fixed Interest Rate | 2.47% | 2.47% | ||||
Euro Member Countries, Euro | Cross-currency Swap [Member] | Net Investment Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Notional Amount of Nonderivative Instruments | $ 197,400 | |||||
United States of America, Dollars | Cash Flow Hedging [Member] | Interest Rate Swaption , First Swaption [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | $ 500,000 | 500,000 | ||||
United States of America, Dollars | Cash Flow Hedging [Member] | Interest Rate Swaption , Second Swaption [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Notional Amount | 500,000 | 500,000 | ||||
United States of America, Dollars | Cash Flow Hedging [Member] | Interest Rate Swaption | ||||||
Derivative [Line Items] | ||||||
Interest Rate Cash Flow Hedge (Gain) Loss | $ 8,200 | 8,200 | ||||
Other comprehensive (income) loss related to Swaption | $ (3,800) | |||||
United States of America, Dollars | Cross-currency Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Fixed Interest Rate | 5.00% | 5.00% | ||||
United States of America, Dollars | Cross-currency Swap [Member] | Net Investment Hedging [Member] | ||||||
Derivative [Line Items] | ||||||
Notional Amount of Nonderivative Instruments | $ 220,000 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) $ in Thousands, € in Millions | 12 Months Ended | |||||
Jan. 02, 2022USD ($) | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | Jan. 02, 2022EUR (€) | Jan. 03, 2021EUR (€) | Dec. 30, 2018USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 57,996 | $ 2,953 | $ 35,481 | $ 69,661 | ||
Long-term Debt | 4,983,977 | |||||
Discount on senior unsecured notes | (7,366) | (5,765) | ||||
Unamortized Debt Issuance Expense | $ 35,781 | 12,540 | ||||
Business Combination, Contingent Consideration Arrangements, Maximum Period | 6 years 10 months 24 days | |||||
Business Combination, Contingent Consideration Arrangements, Weighted Average Period | 5 years 4 months 24 days | |||||
Payments for acquisition related contingent consideration | $ (2,208) | (10,363) | $ (29,942) | |||
Line of Credit, Maturing September 17, 2024 [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 155,974 | |||||
Revolving credit facility outstanding balance | 158,595 | |||||
Discount on senior unsecured notes | 0 | |||||
Unamortized Debt Issuance Expense | 2,621 | |||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Discount on senior unsecured notes | (16) | |||||
Unamortized Debt Issuance Expense | 229 | |||||
3.3 Percent Ten Year Senior Unsecured Notes due in Sept 2029 [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 841,514 | |||||
Discount on senior unsecured notes | (2,252) | (2,496) | ||||
Unamortized Debt Issuance Expense | 6,234 | 6,908 | ||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 563,782 | |||||
Discount on senior unsecured notes | (2,538) | (3,253) | ||||
Unamortized Debt Issuance Expense | 2,280 | 2,782 | ||||
Senior Unsecured Notes | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Unsecured senior notes, fair value | 4,612,800 | 1,984,300 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 4,979,737 | 1,609,701 | ||||
Fair Value, Inputs, Level 2 [Member] | 3.3 Percent Ten Year Senior Unsecured Notes due in Sept 2029 [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 841,514 | 840,596 | ||||
Fair Value, Inputs, Level 2 [Member] | 1.875 Percent Ten Year Senior Unsecured Notes [Member] | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | 563,782 | 604,715 | ||||
Fair Value, Inputs, Level 2 [Member] | Senior Unsecured Notes | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Long-term Debt | $ 4,479,500 | $ 1,811,500 | ||||
Fair Value, Inputs, Level 2 [Member] | Other Debt Facilities, including the senior revolving credit facility | ||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||
Other Long-term Debt | € | € 504.5 | € 179.1 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | Dec. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 57,996 | $ 2,953 | $ 35,481 | $ 69,661 |
Fair Value, Recurring [Member] | Carrying Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | (53,073) | (2,154) | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 3,765 | 31,248 | ||
Foreign exchange derivative liabilities, net | (3,463) | (21,413) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 57,996 | 2,953 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | (53,073) | (2,154) | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 | ||
Foreign exchange derivative liabilities, net | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 0 | 0 | ||
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 3,765 | 31,248 | ||
Foreign exchange derivative liabilities, net | (3,463) | (21,413) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 0 | 0 | ||
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Marketable securities | 0 | 0 | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 0 | ||
Foreign exchange derivative liabilities, net | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 57,996 | $ 2,953 |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation of Beginning and Ending Level 3 Net Liabilities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Balance beginning of period | $ (2,953) | $ (35,481) | $ (69,661) |
Additions | (57,431) | (12,734) | |
Payments | (5,507) | (23,701) | (50,795) |
Change in fair value (included within selling, general and administrative expenses) | (3,119) | 8,827 | (3,881) |
Balance end of period | $ (57,996) | $ (2,953) | $ (35,481) |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Leases [Abstract] | |||
Operating Lease, Cost | $ 54,639 | $ 56,977 | $ 61,205 |
Schedule Of Supplemental Cash Flow Information Related To Leases [Line Items] | |||
Operating Lease, Payments | 53,455 | 47,427 | 50,155 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 18,694 | $ 5,048 | $ 5,685 |
Leases Supplemental Balance She
Leases Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Schedule of Supplemental Balance Sheet Information Related To Leases [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 207,775 | $ 207,236 |
Operating Lease, Liability, Noncurrent | 185,359 | 188,402 |
Operating Lease, Liability | $ 225,926 | $ 228,732 |
Operating Lease, Weighted Average Remaining Lease Term | 7 years 7 months 6 days | 8 years 1 month 6 days |
Operating Lease, Weighted Average Discount Rate, Percent | 2.60% | 2.90% |
Other Current Liabilities [Member] | ||
Schedule of Supplemental Balance Sheet Information Related To Leases [Line Items] | ||
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | ||
Other Noncurrent Liabilities [Member] | ||
Schedule of Supplemental Balance Sheet Information Related To Leases [Line Items] | ||
Operating Lease, Liability, Noncurrent | $ 185,359 | $ 188,402 |
Leases Lessee, Operating Lease,
Leases Lessee, Operating Lease, Liability, Maturity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Operating Lease Liabilities, Maturity [Line Items] | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 47,910 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 38,072 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 31,624 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Four | 27,899 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 24,279 | ||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 73,967 | ||
Operating Lease, Payments | 53,455 | $ 47,427 | $ 50,155 |
Lessee, Operating Lease, Liability, Payments, Due | 243,751 | ||
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (17,825) | ||
Operating Lease, Liability | $ 225,926 | $ 228,732 |
Schedule of Sales and Operating
Schedule of Sales and Operating Income from Continuing Operations by Operating Segment (Details) $ in Thousands | 12 Months Ended | |||
Jan. 02, 2022USD ($)segments | Jan. 03, 2021USD ($) | Dec. 29, 2019USD ($) | ||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Operating income from continuing operations | $ 1,332,378 | $ 978,581 | $ 361,973 | |
Number of Operating Segments | segments | 2 | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,067,169 | 3,782,745 | 2,883,673 | |
Interest and other expense (income), net | 52,492 | 72,217 | 124,831 | |
Income from continuing operations before income taxes | 1,279,886 | 906,364 | 237,142 | |
Acceleration of executive compensation | 7,700 | |||
Asset Impairment Charges | 3,868 | 7,937 | 0 | |
Significant environmental matters | 5,200 | |||
Diagnostics [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Operating income from continuing operations | 1,219,944 | 874,206 | 189,330 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 2,931,939 | 2,066,942 | 1,137,512 | |
Asset Impairment Charges | 3,900 | 7,900 | ||
Discovery & Analytical Solutions [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Operating income from continuing operations | [1] | 189,798 | 183,471 | 238,331 |
Revenue from Contract with Customer, Excluding Assessed Tax | 2,135,230 | 1,715,803 | 1,746,161 | |
Corporate [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Operating income from continuing operations | [2] | (77,364) | (79,096) | (65,688) |
Particular Diagnostics Case [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Legal Fees | 100 | 1,200 | 100 | |
Particular Discovery & Analytical Solutions Case [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Legal Fees | 5,900 | 2,200 | ||
Product [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,329,102 | 2,778,725 | 2,017,042 | |
Product [Member] | Diagnostics [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,970,618 | 1,783,509 | 962,180 | |
Product [Member] | Discovery & Analytical Solutions [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,358,484 | 995,216 | 1,054,862 | |
Service [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,738,067 | 1,004,020 | 866,631 | |
Service [Member] | Diagnostics [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 961,321 | 283,433 | 175,332 | |
Service [Member] | Discovery & Analytical Solutions [Member] | ||||
Schedule of Segment Reporting Information, by Segment [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 776,746 | $ 720,587 | $ 691,299 | |
[1] | Legal costs for significant litigation matters and settlements in the Company's Discovery & Analytical Solutions segment were $5.9 million and $2.2 million for fiscal years 2020 and 2019, respectively. Legal costs for significant litigation matters and settlements in the Company's Diagnostics segment were $0.1 million, $1.2 million and $0.1 million for fiscal years 2021, 2020 and 2019, respectively. (2) Asset impairment in the Company's Diagnostics segment was $3.9 million and $7.9 million for fiscal years 2021 and 2020. | |||
[2] | Costs for significant environmental matters were $5.2 million for fiscal year 2020. Stock compensation expense from acceleration of executive compensation was $7.7 million for fiscal year 2019. |
Industry Segment and Geograph_3
Industry Segment and Geographic Area Information Schedule of Depreciation, Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Schedule of Segment Reporting Information, by Segment [Line Items] | |||
Depreciation and amortization expense | $ 358,004 | $ 246,507 | $ 214,025 |
Payments to Acquire Property, Plant, and Equipment | 99,888 | 77,506 | 76,331 |
Diagnostics [Member] | |||
Schedule of Segment Reporting Information, by Segment [Line Items] | |||
Depreciation and amortization expense | 214,178 | 149,738 | 136,476 |
Payments to Acquire Property, Plant, and Equipment | 57,206 | 55,236 | 46,863 |
Discovery & Analytical Solutions [Member] | |||
Schedule of Segment Reporting Information, by Segment [Line Items] | |||
Depreciation and amortization expense | 141,261 | 93,516 | 74,445 |
Payments to Acquire Property, Plant, and Equipment | 41,686 | 20,217 | 27,778 |
Corporate [Member] | |||
Schedule of Segment Reporting Information, by Segment [Line Items] | |||
Depreciation and amortization expense | 2,565 | 3,253 | 3,104 |
Payments to Acquire Property, Plant, and Equipment | 996 | 2,053 | 1,690 |
All Segments [Member] | |||
Schedule of Segment Reporting Information, by Segment [Line Items] | |||
Depreciation and amortization expense | 358,004 | 246,507 | 214,025 |
Payments to Acquire Property, Plant, and Equipment | $ 99,888 | $ 77,506 | $ 76,331 |
Industry Segment and Geograph_4
Industry Segment and Geographic Area Information Schedule of Total Assets by Segment (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 |
Schedule of Total Assets, by segment [Line Items] | |||
Assets | $ 15,000,554 | $ 7,960,315 | |
Diagnostics [Member] | |||
Schedule of Total Assets, by segment [Line Items] | |||
Assets | 4,692,816 | 4,228,943 | $ 3,368,598 |
Discovery & Analytical Solutions [Member] | |||
Schedule of Total Assets, by segment [Line Items] | |||
Assets | 10,177,834 | 3,600,860 | 3,082,917 |
Corporate [Member] | |||
Schedule of Total Assets, by segment [Line Items] | |||
Assets | $ 129,904 | $ 130,512 | 87,049 |
All Segments [Member] | |||
Schedule of Total Assets, by segment [Line Items] | |||
Assets | $ 6,538,564 |
Industry Segment and Geograph_5
Industry Segment and Geographic Area Information Schedule of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,067,169 | $ 3,782,745 | $ 2,883,673 |
UNITED STATES | |||
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,046,914 | 1,269,293 | 974,187 |
CHINA | |||
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 670,084 | 492,283 | 581,688 |
UNITED KINGDOM | |||
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 417,199 | 362,591 | 70,703 |
Other International [Member] | |||
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,932,972 | 1,658,578 | 1,257,095 |
Total international [Member] | |||
Sales by Geographic Area [Line Items] | |||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 3,020,255 | $ 2,513,452 | $ 1,909,486 |
Industry Segment and Geograph_6
Industry Segment and Geographic Area Information Schedule of Long-Lived Assets by Geographic Location (Details) - USD ($) $ in Thousands | Jan. 02, 2022 | Jan. 03, 2021 |
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | $ 828,578 | $ 651,158 |
UNITED STATES | ||
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | 343,723 | 197,755 |
GERMANY | ||
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | 148,048 | 149,105 |
CHINA | ||
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | 79,851 | 75,199 |
Other International [Member] | ||
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | 256,956 | 229,099 |
Total international [Member] | ||
Long-lived assets by Geographic Area [Line Items] | ||
Total net long-lived assets | $ 484,855 | $ 453,403 |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Jan. 02, 2022 | Oct. 03, 2021 | Jul. 04, 2021 | Apr. 04, 2021 | Oct. 04, 2020 | Jul. 05, 2020 | Apr. 05, 2020 | Jan. 02, 2022 | Jan. 03, 2021 | Dec. 29, 2019 | |
Quarterly Financial Data [Abstract] | ||||||||||
Restructuring and other costs, net | $ 16,432 | $ 8,013 | $ 29,428 | |||||||
Operating income from continuing operations | 1,332,378 | 978,581 | 361,973 | |||||||
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | (126) | (211) | (195) | |||||||
Operating income from continuing operations | 943,283 | 728,098 | 227,753 | |||||||
Net income | $ 943,157 | $ 727,887 | $ 227,558 | |||||||
Basic earnings per share: | ||||||||||
Income from continuing operations | $ 8.12 | $ 6.53 | $ 2.06 | |||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | 0 | 0 | 0 | |||||||
Net income | 8.12 | 6.53 | 2.06 | |||||||
Diluted earnings per share: | ||||||||||
Income from continuing operations | 8.08 | 6.50 | 2.04 | |||||||
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | 0 | 0 | 0 | |||||||
Net income | $ 8.08 | $ 6.49 | $ 2.04 | |||||||
Cash dividends per common share | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | |||
Tax Adjustments, Settlements, and Unusual Provisions | $ 43,200 | $ 10,800 | $ (23,400) | |||||||
Diagnostics [Member] | ||||||||||
Quarterly Financial Data [Abstract] | ||||||||||
Operating income from continuing operations | $ 1,219,944 | $ 874,206 | $ 189,330 |
Subsequent Events (Details)
Subsequent Events (Details) - Horizon Discovery Group plc [Member] $ in Thousands | 12 Months Ended |
Jan. 03, 2021USD ($)employees | |
Subsequent Event [Line Items] | |
Entity Number of Employees | employees | 400 |
United States of America, Dollars | |
Subsequent Event [Line Items] | |
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ | $ 399,800 |
Uncategorized Items - pki-20220
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 166,315,000 |
Stock Issued During Period, Value, Acquisitions | us-gaap_StockIssuedDuringPeriodValueAcquisitions | 2,638,144,000 |
Retained Earnings [Member] | ||
Stock Issued During Period, Value, Acquisitions | us-gaap_StockIssuedDuringPeriodValueAcquisitions | $ 0 |
Common Stock [Member] | ||
Stock Issued During Period, Shares, Acquisitions | us-gaap_StockIssuedDuringPeriodSharesAcquisitions | 14,067,000 |
Additional Paid-in Capital [Member] | ||
Stock Issued During Period, Value, Acquisitions | us-gaap_StockIssuedDuringPeriodValueAcquisitions | $ 2,624,077,000 |