Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments

v3.21.2
Fair Value of Financial Instruments
9 Months Ended
Oct. 02, 2021
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS

4. FAIR VALUE OF FINANCIAL INSTRUMENTS

The following tables provide information regarding the Company’s assets and liabilities measured at fair value on a recurring basis at October 2, 2021 and January 2, 2021.

 

 

October 2, 2021

 

 

 

 

 

 

Quoted Market

 

 

Significant Other Observable

 

 

Significant Unobservable

 

 

 

Total

 

 

Prices (Level 1)

 

 

Inputs (Level 2)

 

 

Inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

586

 

 

$

 

 

$

586

 

 

$

 

Forward foreign exchange contracts

 

 

685

 

 

 

 

 

 

685

 

 

 

 

Total

 

$

1,271

 

 

$

 

 

$

1,271

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

4,546

 

 

$

 

 

$

4,546

 

 

$

 

Forward foreign exchange contracts

 

 

56

 

 

 

 

 

 

56

 

 

 

 

Contingent consideration

 

 

5,736

 

 

 

 

 

 

 

 

 

5,736

 

Total

 

$

10,338

 

 

$

 

 

$

4,602

 

 

$

5,736

 

 

 

 

January 2, 2021

 

 

 

 

 

 

Quoted Market

 

 

Significant Other Observable

 

 

Significant Unobservable

 

 

 

Total

 

 

Prices (Level 1)

 

 

Inputs (Level 2)

 

 

Inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Forward foreign exchange contracts

 

$

211

 

 

$

 

 

$

211

 

 

$

 

Total

 

$

211

 

 

$

 

 

$

211

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

7,679

 

 

$

 

 

$

7,679

 

 

$

 

Forward foreign exchange contracts

 

 

1,551

 

 

 

 

 

 

1,551

 

 

 

 

Contingent consideration

 

 

1,919

 

 

 

 

 

 

 

 

 

1,919

 

Total

 

$

11,149

 

 

$

 

 

$

9,230

 

 

$

1,919

 

 

A summary of the changes in the estimated fair value of contingent consideration at October 2, 2021 is as follows:

 

Balance at January 2, 2021

 

$

1,919

 

Change in estimated fair value

 

 

621

 

Contingent consideration incurred in connection with NEM acquisition

 

 

3,269

 

Currency translation

 

 

(73

)

Balance at October 2, 2021

 

$

5,736