Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.22.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Apr. 02, 2022
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis

The following tables provide information regarding the Company’s assets and liabilities measured at fair value on a recurring basis at April 2, 2022 and January 1, 2022.

 

 

April 2, 2022

 

 

 

 

 

 

Quoted Market

 

 

Significant Other Observable

 

 

Significant Unobservable

 

 

 

Total

 

 

Prices (Level 1)

 

 

Inputs (Level 2)

 

 

Inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

6,884

 

 

$

 

 

$

6,884

 

 

$

 

Forward foreign exchange contracts

 

 

1,860

 

 

 

 

 

 

1,860

 

 

 

 

Total

 

$

8,744

 

 

$

 

 

$

8,744

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

1,237

 

 

$

 

 

$

1,237

 

 

$

 

Contingent consideration

 

 

7,131

 

 

 

 

 

 

 

 

 

7,131

 

Total

 

$

8,368

 

 

$

 

 

$

1,237

 

 

$

7,131

 

 

 

 

January 1, 2022

 

 

 

 

 

 

Quoted Market

 

 

Significant Other Observable

 

 

Significant Unobservable

 

 

 

Total

 

 

Prices (Level 1)

 

 

Inputs (Level 2)

 

 

Inputs (Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

1,521

 

 

$

 

 

$

1,521

 

 

$

 

Forward foreign exchange contracts

 

 

1,040

 

 

 

 

 

 

1,040

 

 

 

 

Total

 

$

2,561

 

 

$

 

 

$

2,561

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

3,248

 

 

$

 

 

$

3,248

 

 

$

 

Forward foreign exchange contracts

 

 

51

 

 

 

 

 

 

51

 

 

 

 

Contingent consideration

 

 

6,400

 

 

 

 

 

 

 

 

 

6,400

 

Total

 

$

9,699

 

 

$

 

 

$

3,299

 

 

$

6,400

 

Summary of changes in estimated fair value of contingent consideration

A summary of the changes in the estimated fair value of contingent consideration at April 2, 2022 is as follows:

 

Balance at January 1, 2022

 

$

6,400

 

Change in estimated fair value

 

 

863

 

Accretion in value

 

 

(25

)

Currency remeasurement

 

 

(107

)

Balance at April 2, 2022

 

$

7,131