

Document		Part
Proxy Statement for the 2020 Annual Meeting of Stockholders		Part III, Item 10 “Directors, Executive Officers and Corporate Governance”

		Part III, Item 11 “Executive Compensation”

		Part III, Item 12 “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”

		Part III, Item 13 “Certain Relationships and Related Transactions, and Director Independence”

		Part III, Item 14 “Principal Accounting Fees and Services”

Entity Central Index Key

0001114483

Amendment Flag

false

Document Fiscal Year Focus

2019

Document Fiscal Period Focus

FY

Current Fiscal Year End Date

--12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Current assets:
Cash and cash equivalents	$ 13,535	$ 25,569
Accounts receivable, net of allowance for doubtful accounts of $2.4 million and $0.6 million, respectively	191,985	185,501
Inventories	167,256	190,076
Contract assets	24,767	0
Prepaid expenses and other current assets	17,852	15,104
Total current assets	415,395	416,250
Property, plant and equipment, net	246,185	231,269
Goodwill	839,617	832,338
Other intangible assets, net	775,784	812,338
Deferred income taxes	4,438	3,937
Operating lease assets	42,379
Other assets	29,295	30,549
Total assets	2,353,093	2,326,681
Current liabilities:
Current portion of long-term debt	37,500	37,500
Accounts payable	64,975	57,187
Income taxes payable	3,023	9,393
Operating lease liabilities	7,507
Accrued expenses and other current liabilities	66,073	60,490
Total current liabilities	179,078	164,570
Long-term debt	777,272	888,007
Deferred income taxes	187,978	203,910
Operating lease liabilities	37,114
Other long-term liabilities	19,163	9,701
Total liabilities	1,200,605	1,266,188
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.001 par value, authorized 100,000,000 shares; no shares issued or outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 32,847,017 and 32,624,494 shares issued, respectively; 32,700,471 and 32,473,167 shares outstanding, respectively	33	33
Additional paid-in capital	701,018	691,083
Treasury stock, at cost, 146,546 and 151,327 shares, respectively	(8,809)	(8,125)
Retained earnings	440,258	344,498
Accumulated other comprehensive income	19,988	33,004
Total stockholders’ equity	1,152,488	1,060,493
Total liabilities and stockholders’ equity	$ 2,353,093	$ 2,326,681

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 28, 2018
Current assets:
Allowance for doubtful accounts	$ 2.4	$ 0.6
Stockholders’ equity:
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	32,847,017	32,624,494
Common stock, shares outstanding	32,700,471	32,473,167
Treasury stock, shares	146,546	151,327

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Statement [Abstract]
Sales	$ 1,258,094	$ 1,215,012	$ 1,136,080
Cost of sales	903,084	852,347	782,070
Gross profit	355,010	362,665	354,010
Operating expenses:
Selling, general and administrative expenses	138,695	142,441	143,073
Research, development and engineering costs	46,529	48,604	48,850
Other operating expenses	12,151	16,065	36,438
Total operating expenses	197,375	207,110	228,361
Operating income	157,635	155,555	125,649
Interest expense	52,545	99,310	63,972
(Gain) loss on equity investments, net	475	(5,623)	1,565
Other (income) loss, net	(578)	752	10,853
Income from continuing operations before taxes	105,193	61,116	49,259
Provision (benefit) for income taxes	13,975	14,083	(37,828)
Income from continuing operations	91,218	47,033	87,087
Discontinued operations:
Income (loss) from discontinued operations before taxes	5,296	188,313	(27,432)
Provision (benefit) for income taxes	178	67,382	(7,024)
Income (loss) from discontinued operations	5,118	120,931	(20,408)
Net income	$ 96,336	$ 167,964	$ 66,679
Basic earnings (loss) per share:
Income from continuing operations (in dollars per share)	$ 2.80	$ 1.46	$ 2.77
Income (loss) from discontinued operations (in dollars per share)	0.16	3.76	(0.65)
Basic earnings per share (in dollars per share)	2.95	5.23	2.12
Diluted earnings (loss) per share:
Income from continuing operations (in dollars per share)	2.76	1.44	2.72
Income (loss) from discontinued operations (in dollars per share)	0.15	3.71	(0.64)
Diluted earnings per share (in dollars per share)	$ 2.92	$ 5.15	$ 2.08
Weighted average shares outstanding:
Basic (in shares)	32,627	32,136	31,402
Diluted (in shares)	33,037	32,596	32,056

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 96,336	$ 167,964	$ 66,679
Other comprehensive income (loss):
Foreign currency translation gain (loss)	(7,900)	(19,925)	65,860
Net change in cash flow hedges, net of tax	(4,580)	16	2,243
Defined benefit plan liability adjustment, net of tax	(536)	302	76
Other comprehensive income (loss), net	(13,016)	(19,607)	68,179
Comprehensive income	$ 83,320	$ 148,357	$ 134,858

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Cash flows from operating activities:
Net income	$ 96,336	$ 167,964	$ 66,679
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,895	88,988	102,796
Debt related charges included in interest expense	7,772	49,110	10,911
Stock-based compensation	9,294	10,470	14,680
Non-cash charges related to customer bankruptcy	21,695	0	0
Non-cash lease expense	7,443	0	0
Non-cash (gain) loss on equity investments	475	(5,623)	2,965
Other non-cash (gains) losses	(162)	148	7,110
Deferred income taxes	(10,285)	61,126	(59,212)
Gain on sale of discontinued operations	(4,974)	(194,965)	0
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(6,976)	9,289	(34,597)
Inventories	3,724	(16,094)	(986)
Prepaid expenses and other assets	(31,060)	8,527	4,854
Accounts payable	1,887	(94)	4,887
Accrued expenses	(2,744)	(11,756)	14,977
Income taxes payable	(4,962)	209	14,293
Net cash provided by operating activities	165,358	167,299	149,357
Cash flows from investing activities:
Acquisition of property, plant and equipment	(48,198)	(44,908)	(47,301)
Proceeds from sale of property, plant and equipment	28	1,379	472
Purchase of equity investments	(417)	(1,230)	(1,316)
Proceeds from sale of discontinued operations	4,734	581,429	0
Acquisition	(15,009)	0	0
Other investing activities	0	0	209
Net cash (used in) provided by investing activities	(58,862)	536,670	(47,936)
Cash flows from financing activities:
Principal payments of long-term debt	(111,500)	(631,469)	(162,558)
Proceeds from senior secured revolving line of credit	34,000	5,000	50,000
Payments of senior secured revolving line of credit	(39,000)	(74,000)	(16,000)
Proceeds from the exercise of stock options	3,242	12,409	19,324
Payment of debt issuance and redemption costs	(1,385)	(31,991)	(2,360)
Tax withholdings related to net share settlements of restricted stock awards	(3,283)	(5,029)	(75)
Net cash used in financing activities	(117,926)	(725,080)	(111,669)
Effect of foreign currency exchange rates on cash and cash equivalents	(604)	2,584	2,228
Net decrease in cash and cash equivalents	(12,034)	(18,527)	(8,020)
Cash and cash equivalents, beginning of year	25,569	44,096	52,116
Cash and cash equivalents, end of year	$ 13,535	$ 25,569	$ 44,096

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock and additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income
Total equity, beginning balance at Dec. 30, 2016	$ 725,239	$ 637,986	$ (5,834)	$ 109,087	$ (16,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		17,934
Stock-based compensation		14,680
Treasury shares purchased			0
Treasury shares reissued			1,180
Net income	66,679			66,679
Other comprehensive income (loss)	68,179				68,179
Reclassified to earnings, net (Note 16)					0
Total equity, ending balance at Dec. 29, 2017	893,381	669,788	(4,654)	176,068	52,179
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		10,858
Stock-based compensation		10,470
Treasury shares purchased			(5,025)
Treasury shares reissued			1,554
Reclassification of certain tax effects related to the adoption of ASU 2018-02	(466)			466	(466)
Net income	167,964			167,964
Other comprehensive income (loss)	(19,607)				(19,607)
Reclassified to earnings, net (Note 16)	898				898
Total equity, ending balance at Dec. 28, 2018	1,060,493	691,116	(8,125)	344,498	33,004
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		641
Stock-based compensation		9,294
Treasury shares purchased			(2,961)
Treasury shares reissued			2,277
Net income	96,336			96,336
Other comprehensive income (loss)	(13,016)				(13,016)
Reclassified to earnings, net (Note 16)					0
Total equity, ending balance at Dec. 31, 2019	$ 1,152,488	$ 701,051	$ (8,809)	$ 440,258	$ 19,988

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Integer Holdings Corporation (together with its consolidated subsidiaries, “Integer” or the “Company”) is a publicly traded corporation listed on the New York Stock Exchange under the symbol “ITGR.” Integer is one of the largest medical device outsource manufacturers in the world serving the cardiac, neuromodulation, orthopedics, vascular, advanced surgical and portable medical markets. The Company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition to medical technologies, the Company develops batteries for high-end niche applications in the energy, military, and environmental markets. The Company’s customers include large multi-national original equipment manufacturers (“OEMs”) and their affiliated subsidiaries.

On May 3, 2018, the Company entered into a definitive agreement to sell the Advanced Surgical and Orthopedic product lines (the “AS&O Product Line”) within its Medical segment to Viant (formerly MedPlast, LLC), and on July 2, 2018 completed the sale. Refer to Note 2 “Acquisition, Divestiture and Discontinued Operations” for further details of these transactions.

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Integer Holdings Corporation and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The results of operations of the AS&O Product Line are reported as discontinued operations in the Consolidated Statements of Operations for all periods presented. The Consolidated Statements of Cash Flows includes cash flows related to the discontinued operations due to Integer’s (parent) centralized treasury and cash management processes, and, accordingly, cash flow amounts for discontinued operations are disclosed in Note 2 “Acquisition, Divestiture and Discontinued Operations.” All results and information in the consolidated financial statements are presented as continuing operations and exclude the AS&O Product Line unless otherwise noted specifically as discontinued operations.

The Company organizes its business into two reportable segments: (1) Medical and (2) Non-Medical. The discontinued operations of the AS&O Product Line were reported in the Medical segment. Refer to Note 18 “Segment and Geographic Information,” for additional information on the Company’s reportable segments.

Fiscal Year

Historically, the Company has utilized a 52/53-week fiscal year ending on the Friday nearest December 31. On October 9, 2019, the Board of Directors of Integer approved a change to the Company’s fiscal year from a year ending on the Friday nearest December 31 to a calendar year ending on December 31. The Company’s current fiscal year began on December 29, 2018 and ended on December 31, 2019. Fiscal years subsequent to 2019 will begin on January 1 and end on December 31 of each year. The Company’s first three fiscal quarters in each fiscal year will continue to end on the Friday nearest March 31, June 30 and September 30, respectively. Fiscal years 2018 and 2017 consisted of fifty-two weeks and ended on December 28, 2018 and December 29, 2017, respectively.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of sales and expenses during the reporting periods. Actual results could differ materially from those estimates.

Reclassifications

Certain prior year amounts have been reclassified to conform to current year's presentation, which management does not consider to be material.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid, short-term investments with maturities at the time of purchase of three months or less.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of accounts receivable. A significant portion of the Company’s sales and accounts receivable are to three customers, all in the medical device industry, and, as such, the Company is directly affected by the condition of those customers and that industry. However, the credit risk associated with trade receivables is partially mitigated due to the stability of those customers. The Company performs on-going credit evaluations of its customers. Note 18 “Segment and Geographic Information” contains information on sales and accounts receivable for these customers. The Company maintains cash deposits with major banks, which from time to time may exceed insured limits. The Company performs on-going credit evaluations of its banks.

Trade Accounts Receivable and Allowance for Doubtful Accounts

The Company provides credit, in the normal course of business, to its customers in the form of trade receivables. Credit is extended based on evaluation of a customer’s financial condition and collateral is not required. The Company maintains an allowance for those customer receivables that it does not expect to collect. The Company accrues its estimated losses from uncollectable accounts receivable to the allowance based upon recent historical experience, the length of time the receivable has been outstanding and other specific information as it becomes available. Provisions to the allowance for doubtful accounts are charged to current operating expenses. Actual losses are charged against this allowance when incurred. In connection with a customer bankruptcy in the fourth quarter of 2019, the Company increased the reserve against outstanding receivables by $2.3 million.

Inventories

Inventories are stated at the lower of cost, determined using the first-in first-out method, or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Write-downs for excess, obsolete or expired inventory are based primarily on how long the inventory has been held, historical sales volume, and estimates of forecasted net sales of that product. A significant change in the timing or level of demand for products may result in recording additional write-downs for excess, obsolete or expired inventory in the future. Note 4 “Inventories” contains additional information on the Company’s inventory. In connection with a customer bankruptcy in the fourth quarter of 2019, the Company increased the reserve for excess, obsolete or expired inventory by $19.0 million.

Leases

The Company determines if an arrangement is, or contains, a lease at inception and classifies it at as finance or operating. The Company does not currently have any finance leases. The Company primarily leases certain office and manufacturing facilities under operating leases, with additional operating leases for machinery, office equipment and vehicles.

Lease right-of-use (“ROU”) assets and corresponding liabilities are recognized based on the present value of the lease payments over the lease term at commencement date. When discount rates implicit in leases cannot be readily determined, the Company uses its incremental borrowing rate based on information available at commencement date in determining the present value of future payments. The incremental borrowing rate is determined based on the Company’s recent debt issuances, the Company’s specific credit rating, lease term and the currency in which lease payments are made.

Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. Lease expense is recognized on a straight-line basis over the lease term. The Company elected to combine lease and non-lease components for all asset classes. For certain leases where rent escalates based upon a change in a financial index, such as the Consumer Price Index, the difference between the rate at lease inception and the subsequent fluctuations in that rate are included in variable lease costs. Additionally, because the Company has elected to not separate lease and non-lease components, variable costs also include payments to the landlord for common area maintenance, real estate taxes, insurance and other operating expenses. In addition, the Company does not apply the recognition requirements to leases with lease terms of 12 months or less.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Property, Plant and Equipment (“PP&E”)

PP&E is carried at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: buildings and building improvements 12-30 years; machinery and equipment 3-10 years; office equipment 3-10 years; and leasehold improvements over the remaining lives of the improvements or the lease term, whichever is shorter. The costs of repairs and maintenance are expensed as incurred; renewals and betterments are capitalized. Upon retirement or sale of an asset, its cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is recorded in operating income or expense. The Company also reviews its PP&E for impairment when impairment indicators exist. When impairment indicators exist, the Company determines if the carrying value of its fixed assets exceeds the related undiscounted future cash flows. In cases where the carrying value of the Company's long-lived assets or asset groups (excluding goodwill and indefinite-lived intangible assets) exceeds the related undiscounted cash flows, the carrying value is written down to fair value. Fair value is generally determined using a discounted cash flow analysis. Note 5 “Property, Plant and Equipment, Net” contains additional information on the Company’s PP&E.

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 1 valuations do not entail a significant degree of judgment.

Level 2 – Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market.

Level 3 – Valuation is based on unobservable inputs that are significant to the overall fair value measurement. The degree of judgment in determining fair value is greatest for Level 3 valuations.

Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, assumptions are required to reflect those that market participants would use in pricing the asset or liability at the measurement date. Note 17 “Financial Instruments and Fair Value Measurements” contains additional information on assets and liabilities recorded at fair value in the consolidated financial statements.

Acquisitions

Results of operations of acquired companies are included in the Company’s results of operations as of the respective acquisition dates. The purchase price of each acquisition is allocated to the net assets acquired based on estimates of their fair values at the date of the acquisition. Any purchase price in excess of these net assets is recorded as goodwill.

In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the contingent payments it expects to make as of the acquisition date. The Company re-measures this liability each reporting period and records changes in the fair value through Other Operating Expenses. Increases or decreases in the fair value of the contingent consideration liability can result from changes in discount periods and rates, as well as changes in the timing, amount of, or the likelihood of achieving the applicable contingent consideration.

All direct acquisition-related costs are expensed as incurred. The allocation of purchase price in certain cases may be subject to revision based on the final determination of fair values during the measurement period, which may be up to one year from the acquisition date.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Discontinued Operations

In determining whether a group of assets which has been disposed of (or is to be disposed of) should be presented as a discontinued operation, the Company analyzes whether the group of assets being disposed of represented a component of the entity; that is, whether it had historic operations and cash flows that were clearly distinguished (both operationally and for financial reporting purposes). In addition, the Company considers whether the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.

The assets and liabilities of a discontinued operation held for sale, other than goodwill, are measured at the lower of carrying amount or fair value less cost to sell. When a portion of a goodwill reporting unit that constitutes a business is to be disposed of, the goodwill associated with that business is included in the carrying amount of the business based on the relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained. The Company allocates interest to discontinued operations if the interest is directly attributable to the discontinued operations or is interest on debt that is required to be repaid as a result of the disposal transaction.

Goodwill

Goodwill represents the excess of cost over the fair value of identifiable net assets of a business acquired and is assigned to one or more reporting units. The Company’s reporting units are the same as its reportable segments, Medical and Non-Medical. The Company tests each reporting unit’s goodwill for impairment at least annually as of the last day of the fiscal year and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. In conducting its goodwill test, the Company either performs a qualitative assessment or a quantitative assessment. A qualitative assessment requires that the Company consider events or circumstances including, but not limited to, macro-economic conditions, market and industry conditions, cost factors, competitive environment, changes in strategy, changes in customers, changes in the Company’s stock price, results of the last impairment test, and the operational stability and the overall financial performance of the reporting units. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair values of its reporting units are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed. The Company may elect to bypass the qualitative analysis and perform a quantitative analysis.

If the qualitative assessment indicates that the quantitative analysis should be performed or if management elects to bypass a qualitative analysis to perform a quantitative analysis, the Company then evaluates goodwill for impairment by comparing the fair value of each of its reporting units to its carrying value, including the associated goodwill. To determine the fair values, the Company uses a weighted combination of the market approach based on comparable publicly traded companies and the income approach based on estimated discounted future cash flows. The cash flow assumptions consider historical and forecasted revenue, operating costs and other relevant factors.

The Company completed its annual goodwill impairment test as of December 31, 2019 and determined, after performing a qualitative review of its Medical reporting unit, that it is more likely than not that the fair value of the Medical reporting unit exceeds its carrying amount. Accordingly, there was no indication of impairment and the quantitative goodwill impairment test was not performed for the Medical reporting unit. The Company bypassed the qualitative analysis for its Non-Medical reporting unit and performed a quantitative analysis. The fair value of the Non-Medical reporting unit exceeded its carrying amount as of December 31, 2019.

Other Intangible Assets

Other intangible assets consist of purchased technology and patents, customer lists and trademarks. Definite-lived intangible assets are amortized on an accelerated or straight-line basis, which approximates the projected cash flows used to determine the fair value of those definite-lived intangible assets at the time of acquisition, as follows: purchased technology and patents 5-15 years; customer lists 7-20 years and other intangible assets 1-10 years. Certain trademark assets are considered indefinite-lived intangible assets and are not amortized. The Company expenses the costs incurred to renew or extend the term of intangible assets.

The Company reviews its definite-lived intangible assets for impairment when impairment indicators exist. When impairment indicators exist, the Company determines if the carrying value of its definite-lived intangible assets or asset groups exceeds the related undiscounted future cash flows. In cases where the carrying value exceeds the undiscounted future cash flows, the carrying value is written down to fair value. Fair value is generally determined using a discounted cash flow analysis.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company assesses its indefinite-lived intangible assets for impairment periodically to determine if any adverse conditions exist that would indicate impairment or when impairment indicators exist. The Company assesses its indefinite-lived intangible assets for impairment at least annually by comparing the fair value of the indefinite-lived intangible asset to its carrying value. The fair value is determined using the relief from royalty method.

Refer to Note 6 “Goodwill and Other Intangible Assets, Net” for further details of the Company’s goodwill and other intangible assets.

Equity Investments

The Company holds long-term, strategic investments in companies to promote business and strategic objectives. These investments are included in Other Assets on the Consolidated Balance Sheets. Equity investments are measured and recorded as follows:

•

Non-marketable equity securities are equity securities without readily determinable fair value that are measured and recorded at fair value with changes in fair value recognized within net income. The Company has elected the practicability exception to use an alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. If an impairment is recognized on the Company’s non-marketable equity securities during the period, these assets are classified as Level 3 within the fair value hierarchy based on the nature of the fair value inputs.


•	Equity method investments are equity securities in investees the Company does not control but over which it has the ability to exercise influence. Equity method investments are measured at cost minus impairment, if any, plus or minus our share of equity method investee income or loss.

Realized and unrealized gains and losses resulting from changes in fair value or the sale of these equity investments is recorded through (Gain) Loss on Equity Investments, Net. The carrying value of the Company’s non-marketable equity securities is adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities by the same issuer. Determining whether an observed transaction is similar to a security within the Company’s portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying value of the Company’s equity securities as a result of observable price changes requires quantitative assessments of the fair value of these securities using various valuation methodologies and involves the use of estimates.

Non-marketable equity securities and equity method investments (collectively referred to as non-marketable equity investments) are also subject to periodic impairment reviews. The Company’s quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee's fair value. Qualitative factors considered include the investee's financial condition and business outlook, market for technology, operational and financing cash flow activities, technology and regulatory approval progress, and other relevant events and factors affecting the investee. When indicators of impairment exist, quantitative assessments of the fair value of the Company’s non-marketable equity investments are prepared.

To determine the fair value of these investments, the Company uses all pertinent financial information available related to the investees, including financial statements, market participant valuations from recent and proposed equity offerings, and other third-party data.


•	Non-marketable equity securities are tested for impairment using a qualitative model similar to the model used for goodwill and long-lived assets. Upon determining that an impairment may exist, the security's fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds the fair value.


•	Equity method investments are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery.

The Company has determined that its investments are not considered variable interest entities. The Company’s exposure related to these entities is limited to its recorded investment. These investments are in start-up research and development companies whose fair value is highly subjective in nature and subject to future fluctuations, which could be significant. Refer to Note 17 “Financial Instruments and Fair Value Measurements” for additional information on the Company’s equity investments.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Debt Issuance Costs and Discounts

Debt issuance costs and discounts associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt. Debt issuance costs incurred in connection with the Company’s issuance of its revolving credit facility are classified within Other Assets and amortized to Interest Expense on a straight-line basis over the contractual term of the revolving credit facility. Debt issuance costs and discounts related to the Company’s term-debt are recorded as a reduction of the carrying value of the related debt and are amortized to Interest Expense using the effective interest method over the period from the date of issuance to the put option date (if applicable) or the maturity date, whichever is earlier. The amortization of debt issuance costs and discounts are included in Debt Related Charges Included in Interest Expense in the Consolidated Statements of Cash Flows. Upon prepayment of the related debt, the Company accelerates the recognition of a proportionate amount of the costs as refinancing or extinguishment of debt. Note 8 “Debt” contains additional information on the Company’s debt issuance costs and discounts.

Income Taxes

The consolidated financial statements of the Company have been prepared using the asset and liability approach to account for income taxes, which requires the recognition of deferred income taxes for the expected future tax consequences of net operating losses, credits, and temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided on deferred tax assets if it is determined, within each taxing jurisdiction, that it is more likely than not that the asset will not be realized.

The Company accounts for uncertain tax positions using a more likely than not recognition threshold. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. These tax positions are evaluated on a quarterly basis. The Company recognizes interest expense related to uncertain tax positions as Provision (Benefit) for Income Taxes. Penalties, if incurred, are recognized as a component of Selling, General and Administrative Expenses (“SG&A”).

The Company and its subsidiaries file a consolidated U.S. federal income tax return. State tax returns are filed on a combined or separate basis depending on the applicable laws in the jurisdictions where the tax returns are filed. The Company also files foreign tax returns on a separate company basis in the countries in which it operates.

Derivative Financial Instruments

The Company recognizes all derivative financial instruments in its consolidated financial statements at fair value. Changes in the fair value of derivative instruments are recorded in earnings unless hedge accounting criteria are met. Under master agreements with the respective counterparties to our derivative contracts, subject to applicable requirements, we have the right of set-off and are allowed to net settle transactions of the same type with a single net amount payable by one party to the other. The Company designated its interest rate swaps and foreign currency forward contracts as cash flow hedges (refer to Note 17 “Financial Instruments and Fair Value Measurements”). Gains and losses on cash flow hedges are recorded in Accumulated Other Comprehensive Income in the Consolidated Balance Sheets until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from Accumulated Other Comprehensive Income to the Consolidated Statement of Operations on the same line item as the underlying transaction. In the event the forecasted transactions do not occur, or it becomes probable that they will not occur, the Company reclassifies any gain or loss on the related cash flow hedge to earnings in the respective period. Cash flows related to these derivative financial instruments are included in cash flows from operating activities. The resulting cash flow from the termination of interest rate swap agreements is reported in cash flows from operations in the Consolidated Statements of Cash Flows.

Revenue Recognition

The majority of the Company’s revenues consist of sales of various medical devices and products to large, multinational OEMs and their affiliated subsidiaries. The Company considers the customer’s purchase order, which in some cases is governed by a long-term agreement, and the Company’s corresponding sales order acknowledgment as the contract with the customer. Consideration payable to customers is included in the transaction price. The Company has elected to adopt the practical expedient provided in ASC 340-40-25-4 and recognize the incremental costs of obtaining a contract, which are primarily sales commissions, as expense when incurred because the amortization period is less than one year.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company evaluates revenue recognition in contracts with customers as performance obligations are satisfied and the customer obtains control of the products. Control is defined as the ability to direct the use of and obtain substantially all of the remaining benefits of the products. The customer obtains control of the products when title and risk of ownership transfers to them, which is primarily based upon shipping terms. Most of the Company’s revenues are recognized at the point in time when the products are shipped to customers. When contracts with customers for products that do not have an alternative use to the Company contain provisions that provide the Company with an enforceable right to payment for performance completed to date for costs incurred plus a reasonable profit throughout the duration of the contract, revenue is recognized over time as control is transferred to the customer. In contracts with customers where revenue is recognized over time, the Company uses an input measure to determine progress towards completion and total estimated costs at completion. Under this method, sales and gross profit are recognized as work is performed generally based on actual costs incurred. For arrangements recognized over time, the Company records a contract asset for unbilled revenue associated with non-cancellable customer orders, which is recorded within Contract Assets on the Consolidated Balance Sheets. Revenue is recognized net of sales tax, value-added taxes and other taxes.

Performance Obligations

The Company considers each shipment of an individual product included on a purchase order to be a separate performance obligation, as each shipment is separately identifiable and the customer can benefit from each individual product separately from the other products included on the purchase order. Accordingly, a contract can have one or more performance obligations to manufacture products. Standard payment terms range from 30 to 90 days and can include a discount for early payment.

The Company does not offer its customers a right of return. Rather, the Company warrants that each unit received by the customer will meet the agreed upon technical and quality specifications and requirements. Only when the delivered units do not meet these requirements can the customer return the non-compliant units as a corrective action under the warranty. The remedy offered to the customer is repair of the returned units or replacement if repair is not viable. Accordingly, the Company records a warranty reserve and any warranty activities are not considered to be a separate performance obligation.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable and less frequently, unearned revenue. Accounts receivable are recorded when the right to consideration becomes unconditional. Unearned revenue is recorded when customers pay or are billed in advance of the Company’s satisfaction of performance obligations. Contract liabilities are classified as Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheets.

Transaction Price

Generally, the transaction price of the Company’s contracts consists of a unit price for each individual product included in the contract, which can be fixed or variable based on the number of units ordered. In some instances, the transaction price also includes a rebate for meeting certain volume-based targets over a specified period of time. The transaction price of a contract is determined based on the unit price and the number of units ordered, reduced by the rebate expected to be earned on those units. Rebates are estimated based on the expected achievement of the volume-based target using the most likely amount method and updated quarterly. Any adjustments to these estimates are recognized under the cumulative catch-up method, such that impact of the adjustment is recognized in the period in which it is identified. When contracts with customers include consideration payable at the beginning of the contract, the transaction price is reduced at the later of when the Company recognizes revenue for the transfer of the related goods to the customer or when we pay or promise to pay the consideration. Volume discounts and rebates and other pricing concessions earned by customers are offset against their receivable balances.

The transaction price is allocated to each performance obligation on a relative standalone selling price basis. As the majority of products sold to customers are manufactured to meet the specific requirements and technical specifications of that customer, the products are considered unique to that customer and the unit price stated in the contract is considered the standalone selling price.

The Company has elected to adopt the practical expedient provided in ASC 606-10-50-14 and not disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations and an expectation of when those amounts are expected to be recognized as revenue because the majority of contracts have an original expected duration of one year or less.

Contract Modifications

Contract modifications, which can include a change in scope, price, or both, most often occur related to contracts that are governed by a long-term arrangement. Contract modifications typically relate to the same products already governed by the long-term arrangement, and therefore, are accounted for as part of the existing contract. If a contract modification is for additional products, it is accounted for as a separate contract.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Environmental Costs

Environmental expenditures that relate to an existing condition caused by past operations and that do not provide future benefits are expensed as incurred. Liabilities are recorded when environmental assessments are made, the requirement for remedial efforts is probable and the amount of the liability can be reasonably estimated. Liabilities are recorded generally no later than the completion of feasibility studies. The Company has a process in place to monitor, identify, and assess how the current activities for known exposures are progressing against the recorded liabilities. The process is also designed to identify other potential remediation sites that are not presently known.

Restructuring Expenses

The Company continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes realignment of existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in voluntary or involuntary employee termination benefits. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. All other exit costs are expensed as incurred. Refer to Note 11 “Other Operating Expenses” for additional information.

Product Warranties

The Company allows customers to return defective or damaged products for credit, replacement, or repair. The Company warrants that its products will meet customer specifications and will be free from defects in materials and workmanship. The Company accrues its estimated exposure to warranty claims, through Cost of Sales, based upon experience and other specific information as it becomes available. The product warranty liability is classified as Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheets. Adjustments to pre-existing estimated exposure for warranties are made as changes to the obligations become reasonably estimable. Note 13 “Commitments and Contingencies” contains additional information on the Company’s product warranties.

Research, Development and Engineering Costs (“RD&E”)

RD&E costs are expensed as incurred. The primary costs are salary and benefits for personnel, material costs used in development projects and subcontracting costs.

Stock-Based Compensation

The Company recognizes stock-based compensation expense for its compensation plans. These plans include stock options, restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PRSUs”). For the Company's PRSUs, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of targets based on market conditions, such as total shareholder return, or performance conditions based on the Company’s operating results. The Company records forfeitures of equity awards in the period in which they occur.

The fair value of the stock-based compensation is determined at the grant date. The Company uses the Black-Scholes standard option pricing model (“Black-Scholes model”) to determine the fair value of stock options. The fair value of each RSU and RSA is determined based on the Company's closing stock price on the date of grant. The fair value of each PRSU is determined based on either the Company's closing stock price on the date of grant or through a Monte Carlo simulation valuation model (“Monte Carlo model”) for those awards that include a market-based condition. In addition to the closing stock price on the date of grant, the determination of the fair value of awards using both the Black-Scholes and Monte Carlo models is affected by other assumptions, including the following:

Expected Term - The Company analyzes historical employee exercise and termination data to estimate the expected term assumption for stock options. For market-based awards, the term is commensurate with the performance period remaining as of the grant date.

Risk-free Interest Rate - A risk-free rate is based on the U.S. Treasury rates in effect on the grant date for a maturity equal to or approximating the expected term of the award.

Expected Volatility - For stock options, expected volatility is calculated using historical volatility based on the daily closing prices of the Company's common stock over a period equal to the expected term. For market-based awards, a combination of historical and implied volatilities for the Company and members of its peer group are used in developing the expected volatility assumption.

Dividend Yield - The dividend yield assumption is based on the Company’s history and the expected annual dividend yield on the grant date.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company recognizes compensation expense over the required service or vesting period based on the fair value of the award on the date of grant. Certain executive stock-based awards contain market, performance and service conditions. Compensation expense for awards with market conditions is recognized over the service period and is not reversed if the market condition is not met. Compensation expense for awards with performance conditions is reassessed each reporting period and recognized based upon the probability that the performance targets will be achieved.

All stock option awards granted under the Company’s compensation plans have an exercise price equal to the closing stock price on the date of grant, a ten-year contractual life and generally, vest annually over a three-year vesting term. RSUs typically vest in equal annual installments over a three or four year period. RSUs issued to members of the Company’s Board of Directors as a portion of their annual retainer vest quarterly over a one-year vesting term. Earned PRSUs typically vest two or three years from the date of grant.

The Company records deferred tax assets for awards that result in deductions on the Company's income tax returns, based on the amount of stock-based compensation expense recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax deduction reported on the income tax return are recorded as a component of Provision (Benefit) for Income Taxes in the Consolidated Statements of Operations. Note 10 “Stock-Based Compensation” contains additional information on the Company’s stock-based compensation.

Foreign Currency Translation and Remeasurement

The Company translates all assets and liabilities of its foreign subsidiaries, where the U.S. dollar is not the functional currency, at the period-end exchange rate and translates income and expenses at the average exchange rates in effect during the period. The net effect of this translation is recorded in the consolidated financial statements as a component of Accumulated Other Comprehensive Income. Translation adjustments are not adjusted for income taxes as they relate to permanent investments in the Company’s foreign subsidiaries.

The Company has foreign operations in Ireland, Israel, Malaysia, Mexico, Switzerland, and Uruguay, which expose the Company to foreign currency exchange rate fluctuations due to transactions denominated in Euros, Israeli shekel, Malaysian ringgits, Mexican pesos, Swiss francs, and Uruguayan pesos. To the extent that monetary assets and liabilities, including short-term and long-term intercompany loans, are recorded in a currency other than the functional currency of the subsidiary, these amounts are remeasured each period at the period-end exchange rate, with the resulting gain or loss being recorded in Other (Income) Loss, Net in the Consolidated Statements of Operations. Net foreign currency transaction losses included in Other (Income) Loss, Net amounted to $0.1 million, $1.6 million and $10.9 million for 2019, 2018 and 2017, respectively, and primarily related to the remeasurement of intercompany loans and the fluctuation of the U.S. dollar relative to the Euro.

Defined Benefit Plans

The Company recognizes in its balance sheet as an asset or liability the overfunded or underfunded status of its defined benefit plans provided to its employees located in Mexico and Switzerland. This asset or liability is measured as the difference between the fair value of plan assets, if any, and the benefit obligation of those plans. For these plans, the benefit obligation is the projected benefit obligation, which is calculated based on actuarial computations of current and future benefits for employees. Actuarial gains or losses and prior service costs or credits that arise during the period, but are not included as components of net periodic benefit expense, are recognized as a component of Accumulated Other Comprehensive Income. The Company records the service cost component of net benefit costs in Cost of Sales and SG&A Expenses. The interest cost component of net benefit costs is recorded in Interest Expense and the remaining components of net benefit costs, amortization of net losses and expected return on plan assets, are recorded in Other (Income) Loss, Net.

Earnings Per Share (“EPS”)

Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted average number of shares outstanding for potential common shares if dilutive to the EPS calculation. Note 15 “Earnings Per Share” contains additional information on the computation of the Company’s EPS.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Comprehensive Income

The Company’s comprehensive income as reported in the Consolidated Statements of Comprehensive Income includes net income, foreign currency translation adjustments, the net change in cash flow hedges, net of tax, and defined benefit plan liability adjustments, net of tax. The Consolidated Statements of Comprehensive Income and Note 16 “Stockholders’ Equity” contain additional information on the computation of the Company’s comprehensive income.

Recent Accounting Pronouncements

In the normal course of business, management evaluates all new Accounting Standards Updates (“ASU”) and other accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”), Securities and Exchange Commission (“SEC”), or other authoritative accounting bodies to determine the potential impact they may have on the Company’s Consolidated Financial Statements. Except as noted below, management does not expect any of the recently issued accounting pronouncements, which have not already been adopted, to have a material impact on the Company’s Consolidated Financial Statements.

Accounting Guidance Adopted in Fiscal Year 2019

Adoption of ASC Topic 842

The Company adopted ASC 842, Leases, effective December 29, 2018, the first day of the Company’s 2019 fiscal year. ASC 842 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The Company elected to transition to ASC 842 using the option to not restate comparative periods and apply the standard as of the date of initial application. In addition, certain practical expedients were elected which permit the Company to not reassess whether existing contracts are or contain leases, to not reassess the lease classification of any existing leases, and to not reassess initial direct costs for any existing leases. The Company also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets and the practical expedient related to land easements, allowing the Company to carry-forward its accounting treatment for land easements on existing agreements. The Company did not elect the practical expedient pertaining to the use of hindsight. The Company also made an accounting policy election to keep leases with an initial term of 12 months or less and no purchase option the Company is reasonably certain to exercise off the balance sheet for all classes of underlying assets.

As a result of the adoption of ASC 842, the Company recognized operating lease right-of-use assets of $40.9 million and operating lease liabilities of $43.4 million on December 29, 2018. The difference between the lease assets and lease liabilities primarily represents the existing prepaid rent assets, deferred rent liabilities, and tenant improvement allowances, along with a cumulative-effect adjustment to beginning retained earnings. The adoption of ASC 842 did not have a material impact on the Company’s Consolidated Statement of Operations and Consolidated Statement of Cash Flows for the periods presented.

Refer to Note 14 “Leases” for additional information on the Company’s leases.

Adoption of ASU 2017-12

In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2017-12 amends the designation and measurement guidance for qualifying hedging transactions and the presentation of hedge results in an entity’s financial statements. The new guidance removes the concept of separately measuring and reporting hedge ineffectiveness and requires a company to present the earnings effect of the hedging instrument, including any ineffectiveness, in the same income statement line item in which the earnings effect of the hedged item is reported.

ASU 2017-12 continues to allow an entity to exclude the time value of options and forward points from the assessment of hedge effectiveness. For excluded components in cash flow hedges, the base recognition model under this ASU is an amortization approach. An entity still may elect to record changes in the fair value of the excluded component currently in earnings; however, such an election will need to be applied consistently to similar hedges. The Company has elected to continue to record changes in the fair value of the excluded components of its derivative instruments currently in earnings given their highly effective nature.

The Company adopted ASU 2017-12 on December 29, 2018, the first day of the Company’s 2019 fiscal year, which did not materially affect the Company’s results of operations. The Company adopted the guidance on the modified retrospective basis and did not recognize a cumulative effect adjustment upon adoption as the Company had not recognized ineffectiveness on any of the hedging instruments existing as of the date of adoption. Refer to Note 17 “Financial Instruments and Fair Value Measurements” for additional information and disclosures of the Company’s derivatives and hedging activities.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Accounting Pronouncements Not Yet Effective

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the current incurred loss impairment methodology for most financial assets with the current expected credit loss (“CECL”) methodology. Under the CECL method, the Company will be required to immediately recognize an estimate of credit losses expected to occur over the life of the financial asset at the time financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are required to be recognized each period. The standard was effective for the Company on January 1, 2020 and will be adopted using a modified retrospective transition method through a cumulative-effect adjustment to retained earnings. The Company does not expect the new credit loss standard to have a material impact to the Consolidated Financial Statements.

Acquisition, Divesture And Discontinued Operations

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

ACQUISITION, DIVESTITURE AND DISCONTINUED OPERATIONS

Acquisition of Assets from US BioDesign, LLC

On October 7, 2019, the Company acquired certain assets of US BioDesign, LLC, (“USB”) a privately held developer and manufacturer of complex braided biomedical structures for disposable and implantable medical devices. The acquisition adds a differentiated capability related to the complex development and manufacture of braided and formed biomedical structures to the Company’s broad portfolio. The fair value of the consideration transferred was $19.2 million, which included an initial cash payment of $15.0 million and $4.2 million in estimated fair value of contingent consideration. The contingent consideration represents the estimated fair value of the Company's obligation, under the acquisition agreement, to make additional payments of up to $5.5 million if certain revenue goals are met through 2023. Based on the preliminary purchase price allocation, the assets acquired principally consist of $7.4 million of technology, $10.5 million of goodwill, $0.7 million of acquired property plant and equipment, and $0.6 million of other working capital items. The technology intangible asset is being amortized over a useful life of 8 years. The fair value of the contingent consideration was estimated using the Monte Carlo valuation approach. See Note 17 “Financial Instruments and Fair Value Measurements” for additional information related to the fair value measurement of the contingent consideration. Goodwill arising from the acquisition is tax deductible.

The operating results of this acquisition are included in our consolidated financial statements beginning on the date of acquisition. For the year ended December 31, 2019, sales related to USB were $0.8 million. Earnings related to the operations consisting of the assets acquired from USB for the year ended December 31, 2019 were not material. Direct costs of the acquisition of $0.4 million were expensed as incurred and were included in Other Operating Expenses in the Consolidated Statement of Operations for the year ended December 31, 2019. Pro forma information for the acquisition is not presented as the operations of the acquired business are not material to the overall operations of the Company. The acquired assets and operations are reported in the Company’s Medical segment.

Discontinued Operations and Divestiture of AS&O Product Line

On May 3, 2018, the Company entered into a definitive agreement to sell its AS&O Product Line to Viant, and on July 2, 2018, completed the sale, collecting cash proceeds of approximately $581 million, which is net of transaction costs and adjustments set forth in the definitive purchase agreement. In connection with the sale, the parties executed a transition services agreement whereby the Company will provide certain corporate services (including accounting, payroll, and information technology services) to Viant for a period of up to one year from the date of the closing to facilitate an orderly transfer of business operations. Viant paid Integer for these services as specified in the transition services agreement, which services were completed during 2019. The Company recognized $2.9 million of income under the transition services agreement for the performance of services during 2019, of which $0.1 million is recorded as a reduction of Cost of Sales and $2.8 million is recorded as a reduction of SG&A Expenses in the Consolidated Statement of Operations for the year ended December 31, 2019. The Company recognized $3.6 million of income under the transition services agreement for the performance of services during 2018, of which $0.2 million is recorded as a reduction of Cost of Sales and $3.4 million is recorded as a reduction of SG&A Expenses in the Consolidated Statement of Operations for the year ended December 28, 2018. In addition, the parties executed long-term supply agreements under which the Company and Viant have agreed to supply the other with certain products at prices specified in the agreements for a term of three years.

In connection with the closing of the transaction but prior to a net working capital adjustment, the Company recognized a pre-tax gain on sale of discontinued operations of $195.0 million during the year ended December 28, 2018. During 2019, the Company received, and recognized as gain on sale from discontinued operations, $4.8 million due to the final net working capital adjustment agreed to with Viant.

(2.) ACQUISITION, DIVESTITURE AND DISCONTINUED OPERATIONS (Continued)

As the AS&O Product Line was a portion of the Medical goodwill reporting unit, and management determined it met the definition of a business, goodwill totaling $150.4 million was allocated to the AS&O Product Line on a relative fair value basis. The fair value of the AS&O Product Line assets was based primarily on the purchase price of $600 million prior to closing adjustments.

Income (loss) from discontinued operations for fiscal years 2019, 2018 and 2017 were as follows (in thousands):



	2019			2018			2017
Sales	$	—		$	178,020		$	325,841
Cost of sales	—			148,357			286,300
Gross profit	—			29,663			39,541
SG&A expenses	—			8,905			18,500
Research, development and engineering costs	—			2,352			6,397
Other operating expenses	—			1,805			854
Interest expense	—			22,833			42,488
Gain on sale of discontinued operations	(4,974		)	(194,965		)	—
Other (income) loss, net	(322		)	420			(1,266		)
Income (loss) from discontinued operations before taxes	5,296			188,313			(27,432		)
Provision (benefit) for income taxes	178			67,382			(7,024		)
Income (loss) from discontinued operations	$	5,118		$	120,931		$	(20,408	)

Interest expense included in discontinued operations reflects an estimate of interest expense related to the debt that was required to be repaid with the proceeds from the sale of the AS&O Product Line.

Cash flow information from discontinued operations for fiscal years 2019, 2018 and 2017 was as follows (in thousands):



	2019			2018			2017
Cash provided by (used in) operating activities	$	(78	)	$	(12,498	)	$	3,167
Cash provided by (used in) investing activities	4,734			577,833			(16,771		)
Depreciation and amortization	$	—		$	7,450		$	21,613
Capital expenditures	—			3,610			16,844

Acquisition of Assets from InoMec Ltd.

On February 19, 2020, the Company acquired certain assets of InoMec Ltd., a privately held company based in Israel that specializes in the research, development and manufacturing of medical devices, including minimally invasive tools, delivery systems, tubing and catheters, surgery tools, drug-device combination, laser combined devices, and tooling and production. The acquisition enables the Company to create a research and development center in the region, and adds catheter assembly capabilities to its portfolio.

The Company paid $5 million in cash and may pay up to an additional $3.5 million of contingent earn out over the next four years based on specified conditions being met. The Company expects to determine the preliminary purchase price allocation prior to the end of the first quarter of 2020.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

The following represents supplemental cash flow information for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Non-cash investing and financing activities:
Property, plant and equipment purchases included in accounts payable	$	8,646	$	2,303	$	3,474
Cash paid (refunded) during the year for:
Interest	44,784		79,661		93,839
Income taxes	30,034		23,155		(8,185		)

Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

Inventories comprise the following (in thousands):



	December 31, 2019		December 28, 2018
Raw materials	$	79,742	$	80,213
Work-in-process	60,042		75,711
Finished goods	27,472		34,152
Total	$	167,256	$	190,076

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

PP&E comprises the following (in thousands):



	December 31, 2019			December 28, 2018
Manufacturing machinery and equipment	$	285,793		$	261,912
Buildings and building improvements	96,539			95,886
Information technology hardware and software	64,328			60,901
Leasehold improvements	69,012			61,418
Furniture and fixtures	15,517			15,082
Land and land improvements	11,541			11,544
Construction work in process	37,470			23,886
Other	1,181			1,048
	581,381			531,677
Accumulated depreciation	(335,196		)	(300,408		)
Total	$	246,185		$	231,269

Depreciation expense for PP&E was as follows for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Depreciation expense	$	37,819	$	40,078	$	38,077

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The change in the carrying amount of goodwill by reportable segment during fiscal years 2019 and 2018 was as follows (in thousands):



	Medical			Non-Medical		Total
December 29, 2017	$	822,870		$	17,000	$	839,870
Foreign currency translation	(7,532		)	—		(7,532		)
December 28, 2018	815,338			17,000		832,338
Goodwill related to acquisition (Note 2)	10,527			—		10,527
Foreign currency translation	(3,248		)	—		(3,248		)
December 31, 2019	$	822,617		$	17,000	$	839,617

As of December 31, 2019, no accumulated impairment loss has been recognized for the goodwill allocated to the Company’s Medical or Non-Medical segments.

Intangible Assets

Intangible assets comprise the following (in thousands):



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
December 31, 2019
Definite-lived:
Purchased technology and patents	$	248,264	$	(138,435	)	$	109,829
Customer lists	706,852		(131,185		)	575,667
Other	3,503		(3,503		)	—
Total amortizing intangible assets	$	958,619	$	(273,123	)	$	685,496
Indefinite-lived:
Trademarks and tradenames						$	90,288

December 28, 2018
Definite-lived:
Purchased technology and patents	$	241,726	$	(125,540	)	$	116,186
Customer lists	710,406		(104,556		)	605,850
Other	3,503		(3,489		)	14
Total amortizing intangible assets	$	955,635	$	(233,585	)	$	722,050
Indefinite-lived:
Trademarks and tradenames						$	90,288

See Note 2 “Acquisition, Divestiture and Discontinued Operations.” for additional details regarding intangible assets acquired during 2019. Included in the Company’s indefinite-lived intangible assets is the Lake Region Medical tradename with a carrying value of $70.0 million.

(6.) GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Continued)

Aggregate intangible asset amortization expense is comprised of the following for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Cost of Sales	$	13,111	$	14,134	$	15,183
SG&A	26,965		26,658		24,840
RD&E	—		154		545
Other Operating Expenses (“OOE”)	—		514		2,538
Total intangible asset amortization expense	$	40,076	$	41,460	$	43,106

Estimated future intangible asset amortization expense based upon the carrying value as of December 31, 2019 is as follows (in thousands):



	2020		2021		2022		2023		2024		After 2024
Amortization Expense	$	40,438	$	39,898	$	39,161	$	37,755	$	36,798	$	491,446

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities are comprised of the following (in thousands):



	December 31, 2019		December 28, 2018
Profit sharing and bonuses	$	26,060	$	22,912
Salaries and benefits	20,997		21,830
Deferred revenue	1,975		2,482
Product warranties	1,933		2,600
Accrued interest	1,885		1,944
Other	13,223		8,722
Total	$	66,073	$	60,490

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

DEBT

Long-term debt is comprised of the following (in thousands):



	December 31, 2019			December 28, 2018
Senior secured term loan A	$	267,188		$	304,687
Senior secured term loan B	558,286			632,286
Revolving line of credit	—			5,000
Unamortized discount on term loan B and debt issuance costs	(10,702		)	(16,466		)
Total debt	814,772			925,507
Current portion of long-term debt	(37,500		)	(37,500		)
Total long-term debt	$	777,272		$	888,007

Senior Secured Credit Facilities

The Company has senior secured credit facilities (the “Senior Secured Credit Facilities”) consisting of (i) a $200 million revolving credit facility (the “Revolving Credit Facility”), (ii) a $267 million term loan A facility (the “TLA Facility”), and (iii) a $558 million term loan B facility (the “TLB Facility”). The TLA Facility and TLB Facility are collectively referred to as the “Term Loan Facilities.” The TLB Facility was issued at a 1% discount.

(8.) DEBT (Continued)

On November 21, 2019, the Company amended the Senior Secured Credit Facilities to extend the maturity dates for both the Revolving Credit Facility and the TLA Facility to coincide with the maturity date of the TLB Facility, and reduce the interest rate margins applicable to the Revolving Credit Facility, TLA Facility and TLB Facility.

Revolving Credit Facility

The Revolving Credit Facility matures on October 27, 2022. The Revolving Credit Facility includes a $15 million sublimit for swingline loans and a $25 million sublimit for standby letters of credit. The Company is required to pay a commitment fee on the unused portion of the Revolving Credit Facility, which will range between 0.175% and 0.25%, depending on the Company’s Total Net Leverage Ratio (as defined in the Senior Secured Credit Facilities agreement). Interest rates on the Revolving Credit Facility, as well as the TLA Facility, are at the Company’s option, either at: (i) the prime rate plus the applicable margin, which will range between 0.50% and 2.00%, based on the Company’s Total Net Leverage Ratio, or (ii) the applicable London Interbank Offered Rate (“LIBOR”) rate plus the applicable margin, which will range between 1.50% and 3.00%, based on the Company’s Total Net Leverage Ratio.

As of December 31, 2019, the Company had no outstanding borrowings on the Revolving Credit Facility and an available borrowing capacity of $193.2 million after giving effect to $6.8 million of outstanding standby letters of credit.

Subject to certain conditions, commitments under the Revolving Credit Facility may be increased through an incremental revolving facility so long as, on a pro forma basis, the Company’s first lien net leverage ratio does not exceed 4.25:1.00.

Term Loan Facilities

The TLA Facility and TLB Facility mature on October 27, 2022. Interest rates on the TLB Facility are, at the Company’s option, either at: (i) the prime rate plus 1.50% or (ii) the applicable LIBOR rate plus 2.50%, with LIBOR subject to a 1.00% floor. As of December 31, 2019, the interest rates on the TLA Facility and TLB Facility were 3.80% and 4.22%, respectively.

Subject to certain conditions, one or more incremental term loan facilities may be added to the Term Loan Facilities so long as, on a pro forma basis, the Company’s first lien net leverage ratio does not exceed 4.25:1.00.

Covenants

The Revolving Credit Facility and the TLA Facility contain covenants requiring (A) a maximum total net leverage ratio of 4.50:1.0, subject to step downs of 25 basis points in both the first and second quarters of 2020 and (B) a minimum interest coverage ratio of adjusted EBITDA (as defined in the Senior Secured Credit Facilities) to interest expense of not less than 3.00:1.00. As of December 31, 2019, the Company was in compliance with these financial covenants. The TLB Facility does not contain any financial maintenance covenants.

The Senior Secured Credit Facilities also contain negative covenants that restrict the Company’s ability to (i) incur additional indebtedness; (ii) create certain liens; (iii) consolidate or merge; (iv) sell assets, including capital stock of the Company’s subsidiaries; (v) engage in transactions with the Company’s affiliates; (vi) create restrictions on the payment of dividends or other amounts from the Company’s restricted subsidiaries; (vii) pay dividends on capital stock or redeem, repurchase or retire capital stock; (viii) pay, prepay, repurchase or retire certain subordinated indebtedness; (ix) make investments, loans, advances and acquisitions; (x) make certain amendments or modifications to the organizational documents of the Company or its subsidiaries or the documentation governing other senior indebtedness of the Company; and (xi) change the Company’s type of business. These negative covenants are subject to a number of limitations and exceptions that are described in the Senior Secured Credit Facilities agreement. As of December 31, 2019, the Company was in compliance with all negative covenants under the Senior Secured Credit Facilities.

The Senior Secured Credit Facilities provide for customary events of default. Upon the occurrence and during the continuance of an event of default, the outstanding advances and all other obligations under the Senior Secured Credit Facilities become immediately due and payable.

(8.) DEBT (Continued)

9.125% Senior Notes due 2023

On October 27, 2015, the Company completed a private offering of $360 million aggregate principal amount of 9.125% senior notes due on November 1, 2023 (the “Senior Notes”). On July 10, 2018, the Company completed the redemption in full of the Senior Notes at a redemption price of 100% of the principal amount of the Senior Notes plus the applicable “make-whole” premium of $31.3 million and accrued and unpaid interest through the redemption date. The “make-whole” premium is included in Interest Expense in the accompanying Consolidated Statements of Operations for the year ended December 28, 2018. Upon completion of the redemption of the Senior Notes, the indenture governing the Senior Notes was satisfied and discharged.

As of December 31, 2019, the weighted average interest rate on all outstanding borrowings is 4.08%.

Contractual maturities of the Company’s debt facilities for the next five years and thereafter, excluding any discounts or premiums, as of December 31, 2019 are as follows (in thousands):



	2020		2021		2022
Future minimum principal payments	$	37,500	$	37,500	$	750,474

Debt Issuance Costs and Discounts

The Company incurred debt issuance costs in conjunction with the issuance of the Senior Secured Credit Facilities and the Senior Notes. The change in deferred debt issuance costs related to the Company’s Revolving Credit Facility is as follows (in thousands):



December 29, 2017	$	2,808
Amortization during the period	(991		)
December 28, 2018	1,817
Financing costs incurred	302
Write-off of debt issuance costs⁽¹⁾	(150		)
Amortization during the period	(939		)
December 31, 2019	$	1,030

The change in unamortized discount and debt issuance costs related to the Term Loan Facilities and Senior Notes is as follows (in thousands):



	Debt Issuance Costs			Unamortized Discount on TLB Facility			Total
December 29, 2017	$	26,889		$	6,389		$	33,278
Write-off of debt issuance costs and unamortized discount⁽¹⁾	(9,757		)	(1,610		)	(11,367		)
Amortization during the period	(4,419		)	(1,026		)	(5,445		)
December 28, 2018	12,713			3,753			16,466
Financing costs incurred	919			—			919
Write-off of debt issuance costs and unamortized discount⁽¹⁾	(1,913		)	(482		)	(2,395		)
Amortization during the period	(3,440		)	(848		)	(4,288		)
December 31, 2019	$	8,279		$	2,423		$	10,702

^__________

⁽¹⁾

The Company recognized losses from extinguishment of debt in connection with prepaying portions of its TLB Facility during 2019 and 2018, amending the Senior Secured Credit Facilities during 2019, and redeeming its Senior Notes during 2018. The losses from extinguishment of debt are included in Interest Expense in the accompanying Consolidated Statements of Operations.

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2019
Defined Benefit Plan [Abstract]
BENEFIT PLANS	BENEFIT PLANS Savings Plan The Company sponsors a defined contribution 401(k) plan (the “Plan”), for its U.S. based employees. The Plan provides for the deferral of employee compensation under Internal Revenue Code §401(k) and a Company match. The Company matches $0.50 per dollar of participant deferral, up to 6% of the compensation of each participant. Contributions from employees, as well as those matched by the Company, vest immediately. Net costs related to defined contribution plans were $7.2 million in 2019, $6.8 million in 2018 and $6.0 million in 2017. Defined Benefit Plans The Company is required to provide its employees located in Switzerland and Mexico certain statutorily mandated defined benefits. Under these plans, benefits accrue to employees based upon years of service, position, age and compensation. The defined benefit pension plan provided to the Company’s employees located in Switzerland is a funded contributory plan, while the plans that provide benefits to the Company’s employees located in Mexico are unfunded and noncontributory. The assets of the Switzerland plan are held at an AA- rated insurance carrier who bears the pension risk and longevity risk, and will be used to cover the pension liability for the remaining retirees of the Swiss plan, as well as the remaining employees at that location. The liability and corresponding expense related to these benefit plans is based on actuarial computations of current and future benefits for employees. The aggregated projected benefit obligation for these plans was $3.0 million and $2.2 million as of December 31, 2019 and December 28, 2018, respectively. Net periodic pension cost for fiscal years 2019, 2018 and 2017 was $0.3 million, $0.3 million and $0.3 million, respectively. Over the next ten years, we expect gross benefit payments to be $0.7 million in total for the years 2020 through 2024, and $1.1 million in total for the years 2025 through 2029.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Stock-based Compensation Plans

The Company maintains certain stock-based compensation plans that were approved by the Company’s stockholders and are administered by the Board of Directors, or the Compensation and Organization Committee of the Board. The stock-based compensation plans provide for the granting of stock options, RSAs, RSUs, stock appreciation rights and stock bonuses to employees, non-employee directors, consultants, and service providers.

The 2011 Stock Incentive Plan (the “2011 Plan”), as amended, authorizes the issuance of up to 1,350,000 shares of equity incentive awards and the 2016 Stock Incentive Plan (the “2016 Plan”) authorizes the issuance of up to 1,450,000 shares of equity incentive awards. Awards remain outstanding under the 2005 Stock Incentive Plan and the 2009 Stock Incentive Plan, as amended, but the plans have been frozen to any new award issuances. As of December 31, 2019, there were 662,736 and 79,316 shares available for future grants under the 2016 Plan and 2011 Plan, respectively.

The Company recognized a net tax benefit from the exercise of stock options and vesting of restricted stock and restricted stock units of $2.8 million, $3.8 million and $1.9 million for 2019, 2018 and 2017, respectively. These amounts are recorded as a component of Provision (Benefit) for Income Taxes.

(10.) STOCK-BASED COMPENSATION (Continued)

Stock-based Compensation Expense

The components and classification of stock-based compensation expense for fiscal years 2019, 2018 and 2017 were as follows (in thousands):



	2019		2018		2017
Stock options	$	410	$	873	$	1,633
RSAs and RSUs	8,884		9,183		11,819
Stock-based compensation expense - continuing operations	9,294		10,056		13,452
Discontinued operations	—		414		1,228
Total stock-based compensation expense	$	9,294	$	10,470	$	14,680

Cost of sales	$	1,011	$	849	$	748
SG&A	7,827		9,090		9,893
RD&E	269		112		642
OOE	187		5		2,169
Discontinued operations	—		414		1,228
Total stock-based compensation expense	$	9,294	$	10,470	$	14,680

During 2017, the Company recorded $2.2 million of accelerated stock-based compensation expense in connection with the transition of its former Chief Executive Officer per the terms of his contract, which was classified as OOE.

Stock Options

There were no stock options granted in fiscal year 2019. The following table includes the weighted average grant date fair value of stock options granted to employees during fiscal years 2018 and 2017 and the related weighted average assumptions used in the Black-Scholes model:



	2018			2017
Weighted average fair value of options granted	$	14.89		$	12.86
Assumptions:
Expected term (in years)	4.0			4.5
Risk-free interest rate	2.21		%	1.77		%
Expected volatility	39		%	37		%
Expected dividend yield	0		%	0		%

The following table summarizes stock option activity during the fiscal year ended December 31, 2019:



	Number of Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 28, 2018	522,783		$	31.88
Exercised	(138,770	)	23.36
Outstanding at December 31, 2019	384,013		$	34.96	5.1	$	17.5
Vested and expected to vest at December 31, 2019	384,013		$	34.96	5.1	$	17.5
Exercisable at December 31, 2019	349,698		$	34.55	4.9	$	21.8

(10.) STOCK-BASED COMPENSATION (Continued)

Intrinsic value is calculated for in-the-money options (exercise price less than market price) as the difference between the market price of the Company’s common shares as of December 31, 2019 ($80.43) and the weighted average exercise price of the underlying stock options, multiplied by the number of options outstanding and/or exercisable. As of December 31, 2019, $0.1 million of unrecognized compensation cost related to non-vested stock options is expected to be recognized over a weighted-average period of 0.9 years. Shares are distributed from the Company’s authorized but unissued reserve and treasury stock upon the exercise of stock options.

The following table provides certain information relating to the exercise of stock options during fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Intrinsic value	$	7,998	$	17,722	$	13,928
Cash received	3,242		12,409		19,324

Restricted Stock Awards and Restricted Stock Units

The following table summarizes time-vested RSA and RSU activity during the fiscal year ended December 31, 2019:



	Time-Vested Activity		Weighted Average Grant Date Fair Value
Nonvested at December 28, 2018	142,236		$	49.78
Granted	116,387		82.31
Vested	(31,386	)	65.62
Forfeited	(22,014	)	59.64
Nonvested at December 31, 2019	205,223		$	64.75

As of December 31, 2019, there was $8.2 million of total unrecognized compensation cost related to time-based RSAs and RSUs, which is expected to be recognized over a weighted-average period of approximately 2.4 years. The fair value of RSA and RSU shares vested in 2019, 2018 and 2017 was $2.4 million, $9.7 million and $6.4 million, respectively. The weighted average grant date fair value of RSAs and RSUs granted during fiscal years 2019, 2018 and 2017 was $82.31, $52.14 and $34.18, respectively.

Performance-Based Shares

The following table summarizes PRSU activity during the fiscal year ended December 31, 2019:



	Performance- Vested Activity		Weighted Average Grant Date Fair Value
Nonvested at December 28, 2018	287,134		$	36.15
Granted	50,492		101.17
Vested	(75,008	)	28.41
Forfeited	(71,026	)	36.17
Nonvested at December 31, 2019	191,592		$	56.30

For the Company's PRSUs, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of financial performance or market-based conditions. The financial performance condition is based on the Company's sales targets. The market conditions are based on the Company’s achievement of a relative total shareholder return (“TSR”) performance requirement, on a percentile basis, compared to a defined group of peer companies over two and three year performance periods.

(10.) STOCK-BASED COMPENSATION (Continued)

Compensation expense for the PRSUs is initially estimated based on target performance and adjusted as appropriate throughout the performance period. At December 31, 2019, there was $4.7 million of total unrecognized compensation cost related to unvested PRSUs, which is expected to be recognized over a weighted-average period of approximately 1.7 years. The fair value of PRSU shares vested in 2019 and 2018 was $6.7 million and $9.1 million, respectively. There were no PRSU shares vested in 2017. The weighted average grant date fair value of PRSUs granted during fiscal years 2019, 2018 and 2017 was $101.17, $45.37 and $31.62, respectively.

The grant-date fair value of the market-based portion of the PRSUs granted during fiscal year 2019, 2018 and 2017 was determined using the Monte Carlo simulation model on the date of grant. The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows:



	2019			2018			2017
Weighted average fair value	$	117.03		$	37.46		$	25.41
Risk-free interest rate	2.46		%	2.28		%	1.14		%
Expected volatility	40		%	40		%	48		%
Expected life (in years)	2.8			2.9			1.8
Expected dividend yield	—		%	—		%	—		%

Other Operating Expenses

12 Months Ended

Dec. 31, 2019

Other Income and Expenses [Abstract]

OTHER OPERATING EXPENSES

OOE for fiscal years 2019, 2018 and 2017 is comprised of the following (in thousands):



	2019		2018		2017
Strategic reorganization and alignment	$	5,812	$	10,624	$	5,891
Manufacturing alignment to support growth	2,145		3,089		—
Consolidation and optimization initiatives	—		844		12,803
Acquisition and integration costs	377		—		10,870
Other general expenses	3,817		1,508		6,874
Total other operating expenses	$	12,151	$	16,065	$	36,438

Strategic reorganization and alignment

As a result of the strategic review of its customers, competitors and markets, the Company began taking steps in 2017 to better align its resources in order to enhance the profitability of its portfolio of products. These initiatives include improving its business processes and redirecting investments away from projects where the market does not justify the investment, as well as aligning resources with market conditions and the Company’s future strategic direction. The Company estimates that it will incur aggregate pre-tax charges in connection with the strategic reorganization and alignment plan, including projects reported in discontinued operations, of between approximately $22 million to $23 million, the majority of which are expected to be cash expenditures. During the 2019, the Company incurred charges relating to this initiative, which primarily included severance and fees for professional services recorded within the Medical segment. As of December 31, 2019, total expense incurred for this initiative since inception, including amounts reported in discontinued operations, was $22.3 million. These actions were substantially completed at the end of 2019.

Manufacturing alignment to support growth

In 2017, the Company initiated several initiatives designed to reduce costs, increase manufacturing capacity to accommodate growth and improve operating efficiencies. The plan involves the relocation of certain manufacturing operations and expansion of certain of the Company's facilities. The Company estimates that it will incur aggregate pre-tax restructuring related charges in connection with the realignment plan of between approximately $6 million to $7 million, the majority of which are expected to be cash expenditures. Costs related to the Company’s manufacturing alignment to support growth initiative were primarily recorded within the Medical segment. As of December 31, 2019, total expense incurred for this initiative since inception was $5.2 million. These actions were substantially completed at the end of 2019.

(11.) OTHER OPERATING EXPENSES (Continued)

Consolidation and optimization initiatives

Costs related to the Company’s consolidation and optimization initiatives were primarily recorded within the Medical segment. The Company does not expect to incur any material additional costs associated with these activities.

The following table summarizes the change in accrued liabilities related to the initiatives described above (in thousands):



	Severance and Retention			Other			Total
December 28, 2018	$	1,668		$	202		$	1,870
Restructuring charges	2,095			5,862			7,957
Cash payments	(2,374		)	(5,468		)	(7,842		)
December 31, 2019	$	1,389		$	596		$	1,985

Acquisition and Integration Expenses

During 2019, the Company incurred expenses related to the acquisition of USB, and primarily include legal expenses. Acquisition and integration costs incurred during 2017 were predominantly related to the acquisition of Lake Region Medical (“LRM”) and primarily include professional, consulting, severance, retention, relocation, and travel costs. Integration costs primarily include professional, consulting, severance, retention, relocation, and travel costs.

Other General Expenses

During 2019, 2018 and 2017, the Company recorded losses in connection with various asset disposals and/or write-downs and expenses related to other initiatives not described above, which relate primarily to integration and operational initiatives to reduce future operating costs and improve operational efficiencies. The 2019 amount primarily includes systems conversion expenses, expenses incurred in connection with a customer filing Chapter 11 bankruptcy, and expenses related to the restructuring of certain legal entities of the Company. The 2017 amount also includes approximately $5.3 million in expense related to the Company’s leadership transitions, which were recorded within the corporate unallocated segment.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017, the transition of U.S international taxation from a worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017.

Under GAAP, the effect of a change in tax laws or rates is to be recognized in income from continuing operations in the period that includes the enactment date. As such, the Company recognized an estimate of the impact of the Tax Reform Act in the year ended December 29, 2017. The Company had an estimated $147.5 million of undistributed foreign earnings and profit subject to the deemed mandatory repatriation as of December 29, 2017 and recognized a provisional $14.7 million in 2017 for the one-time transition tax. The Company had sufficient U.S. net operating losses to offset cash tax liabilities associated with the repatriation tax. In addition, as a result of the reduction in the U.S. corporate income tax rate from 35% to 21% under the Tax Reform Act, the Company revalued its ending net deferred tax liabilities at December 29, 2017 and recognized a $56.5 million tax benefit in the Company’s Consolidated Statement of Operations for the year ended December 29, 2017.

(12.) INCOME TAXES (Continued)

On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB”) No. 118 to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Reform Act. The Company recognized the tax impact of the revaluation of deferred tax assets and liabilities and the provisional tax impact related to deemed repatriated earnings and included these amounts in its consolidated financial statements for the year ended December 29, 2017. Based on additional analysis conducted, the Company updated the provisional amount of the one-time transition tax to $18.9 million, representing an increase of $4.2 million over the $14.7 million amount recorded as of December 29, 2017. As stated above, the Company had sufficient U.S. net operating losses to offset cash tax liabilities associated with the repatriation tax. In part, due to the utilization of additional net operating losses to offset the additional transition tax, the Company adjusted its revaluation of the adjusted ending net deferred tax liabilities as of December 29, 2017, resulting in a recognized tax benefit of $60.7 million, representing an increase of $4.2 million to the originally recorded $56.5 million tax benefit recorded in the Company’s Consolidated Statement of Operations for the year ended December 29, 2017.

In 2018, the Company completed its determination of the accounting implications of the Tax Reform Act. The impact of these adjustments was reflected in the Company’s financial results for the year ended December 28, 2018 and its timely filed 2017 U.S. corporate income tax return. Further, the Company records the consequences of the new Global Intangible Low-Taxed Income (“GILTI”) provision of the Tax Reform Act as a period cost when incurred.

Income from continuing operations before taxes for fiscal years 2019, 2018 and 2017 consisted of the following (in thousands):



	2019		2018			2017
U.S.	$	40,203	$	(4,273	)	$	306
International	64,990		65,389			48,953
Total income from continuing operations before taxes	$	105,193	$	61,116		$	49,259

The provision (benefit) for income taxes from continuing operations for fiscal years 2019, 2018 and 2017 was comprised of the following (in thousands):



	2019			2018			2017
Current:
Federal	$	14,090		$	80		$	(1,558	)
State	87			166			(29		)
International	10,083			9,490			8,539
	24,260			9,736			6,952
Deferred:
Federal	(8,813		)	6,610			(45,114		)
State	332			103			(295		)
International	(1,804		)	(2,366		)	629
	(10,285		)	4,347			(44,780		)
Total provision (benefit) for income taxes	$	13,975		$	14,083		$	(37,828	)

(12.) INCOME TAXES (Continued)

The provision (benefit) for income taxes from continuing operations differs from the U.S. statutory rate for fiscal years 2019, 2018 and 2017 due to the following:



	2019					2018					2017
Statutory rate	$	22,091		21.0	%	$	12,834		21.0	%	$	17,240		35.0	%
Federal tax credits (including R&D)	(4,797		)	(4.6	)	(1,700		)	(2.8	)	(1,674		)	(3.4	)
Foreign rate differential	(5,479		)	(5.2	)	(6,040		)	(9.9	)	(12,934		)	(26.3	)
Stock-based compensation	(2,422		)	(2.3	)	(2,821		)	(4.6	)	(3,232		)	(6.6	)
Uncertain tax positions	(920		)	(0.9	)	147			0.2		34			0.1
State taxes, net of federal benefit	1,106			1.1		975			1.6		(543		)	(1.1	)
U.S. tax on foreign earnings, net of §250 deduction	5,201			4.9		10,473			17.1		1,471			3.0
Valuation allowance	(1,606		)	(1.5	)	(567		)	(0.9	)	1,030			2.1
Tax Reform Act	—			—		11			—		(39,394		)	(80.0	)
Other	801			0.8		771			1.3		174			0.4
Effective tax rate	$	13,975		13.3	%	$	14,083		23.0	%	$	(37,828	)	(76.8	)%

The difference between the Company’s effective tax rate and the U.S. federal statutory income tax rate in the current year is primarily attributable to the components of the Tax Reform Act, including a provision for GILTI and a provision for the Foreign Derived Intangible Income (“FDII”) deduction. In 2018, the FDII deduction, as well as the statutory deduction of 50% of the GILTI inclusion, were subject to limitations based on U.S. taxable income. In addition to the components of the Tax Reform Act, differences in the effective tax rate are attributable to the availability of Foreign Tax Credits, R&D Credits and the impact of the Company’s earnings realized in foreign jurisdictions with statutory rates that are different than the U.S. federal statutory rate. The Company’s foreign earnings are primarily derived from Switzerland, Mexico, Uruguay, and Ireland. The Company currently has a tax holiday in Malaysia through April 2023 provided certain conditions are met.

Difference Attributable to Foreign Investment: Certain foreign subsidiary earnings are subject to U.S. taxation under the Tax Reform Act. The Company intends to permanently reinvest substantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, with the exception of distributions made out of current year earnings and profits (“E&P”) and E&P previously taxed as of and for the year ended December 29, 2017, including E&P subject to the toll charge under the Tax Reform Act. The Company accrues for withholding taxes on distributions in the year that distributions are made.

(12.) INCOME TAXES (Continued)

The net deferred tax liability consists of the following (in thousands):



	December 31, 2019			December 28, 2018
Tax credit carryforwards	$	14,921		$	24,593
Inventories	11,333			3,408
Net operating loss carryforwards	8,254			18,088
Operating lease liabilities	5,544			—
Stock-based compensation	4,844			2,340
Accrued expenses	4,625			39
Gross deferred tax assets	49,521			48,468
Less valuation allowance	(22,229		)	(34,339		)
Net deferred tax assets	27,292			14,129
Property, plant and equipment	(6,017		)	(9,445		)
Intangible assets	(192,091		)	(198,648		)
Operating lease assets	(5,161		)	—
Other	(7,563		)	(6,009		)
Gross deferred tax liabilities	(210,832		)	(214,102		)
Net deferred tax liability	$	(183,540	)	$	(199,973	)
Presented as follows:
Noncurrent deferred tax asset	$	4,438		$	3,937
Noncurrent deferred tax liability	(187,978		)	(203,910		)
Net deferred tax liability	$	(183,540	)	$	(199,973	)

As of December 31, 2019, the Company has the following carryforwards available:



Jurisdiction	Tax Attribute	Amount (in millions)		Begin to Expire
U.S. State	Net operating losses⁽¹⁾	$	111.2	2020
International	Net operating losses⁽¹⁾	2.6		2023
U.S. Federal	Foreign tax credits	9.0		2020
U.S. Federal and State	R&D tax credits	2.3		2020
U.S. State	Investment tax credits	5.1		2020

^__________


⁽¹⁾	Net operating losses (“NOLs”) are presented as pre-tax amounts. As of December 31, 2018, the Company had $39.1 million of federal NOL carryforwards available. The Company utilized the remainder of the federal NOLs in 2019.

In assessing the realizability of deferred tax assets, management considers, within each taxing jurisdiction, whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the consideration of the weight of both positive and negative evidence, management has determined it is more likely than not that a portion of the deferred tax assets as of December 31, 2019 and December 28, 2018 related to certain foreign tax credits, state investment tax credits, and foreign and state net operating losses will not be realized.

(12.) INCOME TAXES (Continued)

The Company files annual income tax returns in the U.S., various state and local jurisdictions, and in various foreign jurisdictions. A number of years may elapse before an uncertain tax position, for which the Company has unrecognized tax benefits, is examined and finally settled. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its unrecognized tax benefits reflect the most probable outcome. The Company adjusts these unrecognized tax benefits, as well as the related interest, in light of changing facts and circumstances. The resolution of an uncertain tax position, if recognized, would be recorded as an adjustment to the Provision (Benefit) for Income Taxes and the effective tax rate in the period of resolution.

Below is a summary of changes to the unrecognized tax benefit for fiscal years 2019, 2018 and 2017 (in thousands):



	2019			2018⁽¹⁾			2017⁽²⁾
Balance, beginning of year	$	5,369		$	12,088		$	10,561
Additions based upon tax positions related to the current year	300			300			3,833
Reductions related to prior period tax returns	(1,223		)	(75		)	(14		)
Reductions relating to settlements with tax authorities	—			(98		)	—
Reductions relating to divestiture	—			(6,846		)	—
Reductions as a result of a lapse of applicable statute of limitations	—			—			(510		)
Revaluation due to change in tax rate (Tax Reform Act)	—			—			(1,782		)
Balance, end of year	$	4,446		$	5,369		$	12,088

^__________


⁽¹⁾	The amounts for 2018 reflect discontinued operations through the date of divestiture of the AS&O Product Line, which is reflected in the table as a reduction relating to divestiture.


⁽²⁾	The amounts for 2017 include discontinued operations.

The tax years that remain open and subject to tax audits vary depending on the tax jurisdiction. The Internal Revenue Service (“IRS”) is currently examining the U.S. subsidiaries of the Company for the taxable years 2014 - 2018 and the 2019 taxable year remains subject to examination by the IRS. The U.S. subsidiaries of the former LRM are still subject to U.S. federal, state, and local examinations for the taxable years 2006 to 2014.

It is reasonably possible that a reduction of approximately $0.6 million of the balance of unrecognized tax benefits may occur within the next twelve months as a result of the lapse of the statute of limitations and/or audit settlements. As of December 31, 2019, approximately $4.4 million of unrecognized tax benefits would favorably impact the effective tax rate (net of federal impact on state issues), if recognized.

The Company recognizes interest related to unrecognized tax benefits as a component of Provision (Benefit) for Income Taxes on the Consolidated Statements of Operations. During 2019, 2018 and 2017, the recorded amounts for interest and penalties, respectively, were not significant.

Commitments And Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Litigation

In April 2013, the Company commenced an action against AVX Corporation and AVX Filters Corporation (collectively “AVX”) alleging that AVX had infringed on the Company’s patents by manufacturing and selling filtered feedthrough assemblies used in implantable pacemakers and cardioverter defibrillators that incorporate the Company’s patented technology. Two juries in the U.S. District Court for the District of Delaware have returned verdicts finding that AVX infringed on three of the Company’s patents and awarded the Company $37.5 million in damages. In March 2018, the U.S. District Court for the District of Delaware vacated the original damage award and ordered a retrial on damages. In the January 2019 retrial on damages, the jury awarded the Company $22.2 million in damages. On July 31, 2019, the U.S. District Court for the District of Delaware entered an order denying AVX’s post-trial motion to overturn the jury verdict in favor of the Company. On August 23, 2019, AVX filed its notice of appeal with the United States Court of Appeals for the Federal Circuit and on September 5, 2019, the Company filed its notice of cross-appeal with the United States Court of Appeals for the Federal Circuit. To date, the Company has recorded no gains in connection with this litigation.

(13.) COMMITMENTS AND CONTINGENCIES (Continued)

The Company is a party to various other legal actions arising in the normal course of business. The Company does not expect that the ultimate resolution of any other pending legal actions will have a material effect on its consolidated results of operations, financial position, or cash flows. However, litigation is subject to inherent uncertainties. As such, there can be no assurance that any pending legal action, which the Company currently believes to be immaterial, will not become material in the future.

Environmental Matters

In January 2015, LRM, which was acquired by the Company in October 2015, was notified by the New Jersey Department of Environmental Protection (“NJDEP”) of NJDEP’s intent to revoke a no further action determination made by NJDEP in favor of LRM in 2002 pertaining to a property on which a subsidiary of LRM operated a manufacturing facility in South Plainfield, New Jersey beginning in 1971. LRM sold the property in 2004 and vacated the facility in 2007. In response to NJDEP’s notice, the Company further investigated the matter and submitted a technical report to NJDEP in August of 2015 that concluded that NJDEP’s notice of intent to revoke was unwarranted. After reviewing the Company’s technical report, NJDEP issued a draft response in May 2016 stating that NJDEP would not revoke the no further action determination at that time, but would require some additional site investigation to support the Company’s conclusion. The Company met with NJDEP representatives to discuss the appropriate scope of the requested additional investigation, and the requested additional investigation is ongoing. In late 2019, NJDEP informed LRM that NJDEP was considering taking over the investigation of the property in light of LRM’s difficulty in securing access to the property from the current owner. Separately, in April 2019, NJDEP indicated it believes the property to be a contributing source to local groundwater contamination. The Company disagrees with NJDEP’s assertion; however, the Company is cooperating with NJDEP on this matter. The Company does not expect this environmental matter will have a material effect on its consolidated results of operations, financial position or cash flows.

License Agreements

The Company is a party to various license agreements for technology that is utilized in certain of its products. The most significant of these agreements are the licenses for basic technology used in the production of wet tantalum capacitors, filtered feedthroughs and MRI compatible lead systems. Expenses related to license agreements were $1.4 million, $1.6 million, and $1.1 million, for 2019, 2018 and 2017, respectively, and are primarily included in Cost of Sales.

Product Warranties

The Company generally warrants that its products will meet customer specifications and will be free from defects in materials and workmanship. The change in product warranty liability for fiscal years 2019 and 2018 was comprised of the following (in thousands):



	2019			2018
Beginning balance	$	2,600		$	2,820
Additions to warranty reserve, net of reversals	2,605			620
Adjustments to pre-existing warranties	(1,039		)	—
Warranty claims settled	(2,233		)	(840		)
Ending balance	$	1,933		$	2,600

Self-Insurance Liabilities

As of December 31, 2019, and at various times in the past, the Company self-funded its workers' compensation and employee medical and dental expenses. The Company has established reserves to cover these self-insured liabilities and also maintains stop-loss insurance to limit its exposures under these programs. Claims reserves represent accruals for the estimated uninsured portion of reported claims, including adverse development of reported claims, as well as estimates of incurred but not reported claims. Claims incurred but not reported are estimated based on the Company’s historical experience, which is continually monitored, and accruals are adjusted when warranted by changes in facts and circumstances. The Company’s actual experience may be different than its estimates, sometimes significantly. Changes in assumptions, as well as changes in actual experience could cause these estimates to change. Insurance and claims expense will vary from period to period based on the severity and frequency of claims incurred in a given period. The Company’s self-insurance reserves totaled $4.5 million and $4.2 million as of December 31, 2019 and December 28, 2018, respectively. These accruals are recorded in Accrued Expenses and Other Current Liabilities and Other Long-Term Liabilities in the Consolidated Balance Sheets.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

LEASES

The Company primarily leases certain office and manufacturing facilities under operating leases, with additional operating leases for machinery, office equipment and vehicles.

The following table presents the weighted average remaining lease term and discount rate as of December 31, 2019:



Weighted-average remaining lease term of operating leases (in years)	7.4
Weighted-average discount rate of operating leases	5.5	%

The components and classification of lease cost as of December 31, 2019 are as follows (in thousands):



Operating lease cost	$	9,870
Short-term lease cost (leases with initial term of 12 months or less)	57
Variable lease cost	2,419
Sublease income	(1,894		)
Total lease cost	$	10,452

Cost of sales	$	8,772
SG&A expenses	1,107
Research, development and engineering costs	556
Other operating expenses	17
Total lease cost	$	10,452

The Company’s sublease income is derived primarily from certain real estate leases to several non-affiliated tenants under operating sublease arrangements.

Operating lease expense for fiscal years 2018 and 2017, under ASC 840, the predecessor to ASC 842, were as follows (in thousands):



	2018		2017
Operating lease expense	$	10,753	$	14,320

At December 31, 2019, the maturities of operating lease liabilities were as follows (in thousands):



2020	9,793
2021	9,284
2022	7,136
2023	6,279
2024	5,755
Thereafter	16,624
Total lease payments	54,871
Less imputed interest	(10,250		)
Total	$	44,621

The Company’s future minimum lease commitments, net of sublease income, as of December 28, 2018, under ASC 840 were as follows (in thousands):



	2019		2020	2021	2022	2023	After 2023
Future minimum lease payments	$	8,562	7,290	7,348	5,269	5,112	14,589

As of December 31, 2019, the Company did not have any leases that have not yet commenced.

(14.) LEASES (Continued)

Supplemental cash flow information related to leases for the fiscal year ended December 31, 2019 is as follows (in thousands):



Cash paid for amounts included in the measurement of operating lease liabilities	$	10,235
ROU assets obtained in exchange for new operating lease liabilities	8,778

During the fiscal year ended December 31, 2019, the Company extended the lease terms for five of its manufacturing facilities. As a result of these lease modifications, the Company re-measured the lease liability and adjusted the ROU asset on the modification dates.

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The following table sets forth a reconciliation of the information used in computing basic and diluted EPS for fiscal years 2019, 2018 and 2017 (in thousands, except per share amounts):



	2019		2018		2017
Numerator for basic and diluted EPS:
Income from continuing operations	$	91,218	$	47,033	$	87,087
Income (loss) from discontinued operations	5,118		120,931		(20,408		)
Net income	$	96,336	$	167,964	$	66,679
Denominator for basic EPS:
Weighted average shares outstanding	32,627		32,136		31,402
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units	410		460		654
Denominator for diluted EPS	33,037		32,596		32,056

Basic earnings (loss) per share:
Income from continuing operations	$	2.80	$	1.46	$	2.77
Income (loss) from discontinued operations	0.16		3.76		(0.65		)
Basic earnings per share	2.95		5.23		2.12

Diluted earnings (loss) per share:
Income from continuing operations	$	2.76	$	1.44	$	2.72
Income (loss) from discontinued operations	0.15		3.71		(0.64		)
Diluted earnings per share	2.92		5.15		2.08

The diluted weighted average share calculations do not include the following securities for fiscal years 2019, 2018 and 2017, which are not dilutive to the EPS calculations or the performance criteria have not been met (in thousands):



	2019	2018	2017
Time-vested stock options, restricted stock and restricted stock units	30	237	676
Performance-vested restricted stock units	47	144	285

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Common Stock

The following table sets forth the changes in the number of shares of common stock for fiscal years 2019 and 2018:



	Issued	Treasury Stock		Outstanding
2019
Shares outstanding at beginning of year	32,624,494	(151,327	)	32,473,167
Stock options exercised	116,904	21,866		138,770
RSAs issued, net of forfeitures, and vesting of RSUs	105,619	(17,085	)	88,534
Shares outstanding at end of year	32,847,017	(146,546	)	32,700,471

2018
Shares outstanding at beginning of year	31,977,953	(106,526	)	31,871,427
Stock options exercised	413,317	—		413,317
RSAs issued, net of forfeitures, and vesting of RSUs	233,224	(44,801	)	188,423
Shares outstanding at end of year	32,624,494	(151,327	)	32,473,167

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income (“AOCI”) is comprised of the following (in thousands):



	Defined Benefit Plan Liability			Cash Flow Hedges			Foreign Currency Translation Adjustment			Total Pre-Tax Amount			Tax			Net-of-Tax Amount
December 29, 2017	$	(1,422	)	$	3,418		$	50,200		$	52,196		$	(17	)	$	52,179
Unrealized gain on cash flow hedges	—			1,904			—			1,904			(400		)	1,504
Realized gain on foreign currency hedges	—			(186		)	—			(186		)	39			(147		)
Realized gain on interest rate swap hedges	—			(1,697		)	—			(1,697		)	356			(1,341		)
Net defined benefit plan adjustments	232			—			—			232			70			302
Foreign currency translation loss	—			—			(19,925		)	(19,925		)	—			(19,925		)
Reclassifications to earnings⁽¹⁾	895			—			264			1,159			$	(261	)	898
Reclassification to retained earnings⁽²⁾	—			—			—			—			(466		)	(466		)
December 28, 2018	$	(295	)	$	3,439		$	30,539		$	33,683		$	(679	)	$	33,004
Unrealized loss on cash flow hedges	—			(4,028		)	—			(4,028		)	846			(3,182		)
Realized gain on foreign currency hedges	—			(148		)	—			(148		)	31			(117		)
Realized gain on interest rate swap hedges	—			(1,621		)	—			(1,621		)	340			(1,281		)
Net defined benefit plan adjustments	(617		)	—			—			(617		)	81			(536		)
Foreign currency translation loss	—			—			(7,900		)	(7,900		)	—			(7,900		)
December 31, 2019	$	(912	)	$	(2,358	)	$	22,639		$	19,369		$	619		$	19,988

^__________


⁽¹⁾	Accumulated foreign currency translation losses of $0.3 million and defined benefit plan liabilities of $0.6 million (net of income taxes of $0.3 million) were reclassified to earnings during 2018 as a result of the divestiture of the AS&O Product Line.

⁽²⁾

Represents the stranded tax effects reclassified from AOCI to retained earnings resulting from the adoption of ASU 2018-02 during 2018.

Financial Instruments and Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). For the Company, these financial assets and liabilities include its derivative instruments and contingent consideration. The Company does not have any nonfinancial assets or liabilities that are measured at fair value on a recurring basis.

The Company is exposed to global market risks, including the effect of changes in interest rates and foreign currency exchange rates, and uses derivatives to manage these exposures that occur in the normal course of business. The Company does not hold or issue derivatives for trading or speculative purposes. All derivatives are recorded at fair value on the balance sheet.

The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands):



	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2019
Assets: Foreign currency contracts	$	710	$	—	$	710	$	—
Liabilities: Interest rate swaps	3,068		—		3,068		—
Liabilities: Contingent consideration	4,200		—		—		4,200

December 28, 2018
Assets: Interest rate swaps	$	4,171	$	—	$	4,171	$	—
Liabilities: Foreign currency contracts	732		—		732		—

Interest Rate Swaps

The Company periodically enters into interest rate swap agreements in order to reduce the cash flow risk caused by interest rate changes on its outstanding floating rate borrowings. Under these swap agreements, the Company pays a fixed rate of interest and receives a floating rate equal to one-month LIBOR. The variable rate received from the swap agreements and the variable rate paid on the outstanding debt will have the same rate of interest, excluding the credit spread, and will reset and pay interest on the same date. The Company has designated these swap agreements as cash flow hedges based on concluding the hedged forecasted transaction is probable of occurring within the period the cash flow hedge is anticipated to affect earnings.

The fair value of the Company’s swap agreements are determined through the use of a cash flow model that utilizes observable market data inputs. These observable market data inputs include LIBOR, swap rates, and credit spread curves. In addition, the Company receives fair value estimates from the swap agreement counterparties to verify the reasonableness of the Company’s estimates. The estimated fair value of the swap agreements represents the amount the Company would receive (pay) to terminate the contracts.

Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands):



Notional Amount		Start Date	End Date	Pay Fixed Rate		Receive Current Floating Rate		Fair Value			Balance Sheet Location
$	200,000	Jun 2017	Jun 2020	1.1325	%	1.7920	%	$	543		Accrued expenses and other current liabilities
65,000		Jul 2019	Jul 2020	1.8900		1.7920		(72		)	Accrued expenses and other current liabilities
400,000		Apr 2019	Apr 2020	2.4150		1.7101		(730		)	Accrued expenses and other current liabilities
200,000		Jun 2020	Jun 2023	2.1785		⁽¹⁾		(2,809		)	Other long-term liabilities

^__________

⁽¹⁾ The interest rate swap is not in effect until June 2020.

(17.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued)

As of December 28, 2018, the Company had outstanding an interest rate swap with a notional amount of $200 million. The fair value as of December 28, 2018 was $4.2 million and was included in Other assets in the Consolidated Balance Sheets.

Foreign Currency Contracts

The Company periodically enters into foreign currency forward contracts to hedge its exposure to foreign currency exchange rate fluctuations in its international operations. The Company has designated these foreign currency forward contracts as cash flow hedges.

The fair value of foreign currency contracts are determined through the use of cash flow models that utilize observable market data inputs to estimate fair value. These observable market data inputs include foreign exchange rate and credit spread curves. In addition, the Company receives fair value estimates from the foreign currency contract counterparties to verify the reasonableness of the Company’s estimates. The Company’s foreign currency contracts are categorized in Level 2 of the fair value hierarchy. The fair value of the Company’s foreign currency contracts will be realized as Sales or Cost of Sales as the inventory, which the contracts are hedging, is sold.

Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands):

Notional Amount

Start

Date

End

Date

$/Foreign Currency

Fair Value

Balance Sheet Location

$

11,166

Jan 2020

Jun 2020

0.0490

Peso

$

710

Prepaid expenses and other current assets

Information regarding outstanding foreign currency contracts designated as cash flow hedges as of December 28, 2018 is as follows (dollars in thousands):



Aggregate Notional Amount		Start Date	End Date	$/Foreign Currency		Fair Value			Balance Sheet Location
$	12,621	Jan 2019	Jun 2019	1.1686	Euro	$	(149	)	Accrued expenses and other current liabilities
10,991		Jan 2019	Jun 2019	0.0523	Peso	(494		)	Accrued expenses and other current liabilities
10,535		Jan 2019	Jun 2019	1.1705	Euro	(141		)	Accrued expenses and other current liabilities
11,019		Jan 2019	Jun 2019	0.0483	Peso	(316		)	Accrued expenses and other current liabilities
10,499		Jul 2019	Dec 2019	0.0500	Peso	368			Accrued expenses and other current liabilities

Derivative Instruments with Hedge Accounting Designation

The following table presents the impact of cash flow hedge derivative instruments on other comprehensive income (“OCI”), AOCI and the Company’s Consolidated Statement of Operations for fiscal years 2019, 2018 and 2017 (in thousands):



	Gain (Loss) Recognized in OCI								Gain (Loss) Reclassified from AOCI
Derivative	2019			2018			2017		Location in Statement of Operations	2019			2018			2017
Interest rate swaps	$	(5,618	)	$	1,589		$	1,263	Interest expense	$	1,621		$	1,697		$	466
Foreign exchange contracts	(1,044		)	(1,193		)	1,472		Sales	(1,334		)	(758		)	1,327
Foreign exchange contracts	2,634			1,508			972		Cost of sales	1,482			944			(84		)

The Company expects to reclassify net losses totaling $0.2 million related to its cash flow hedges from AOCI into earnings during the next twelve months.

Contingent Consideration

Contingent consideration liabilities are remeasured to fair value each reporting period using assumptions including estimated revenues (based on internal operational budgets and long-range strategic plans), discount rates, probability of payment and projected payment dates.

(17.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued)

The contingent consideration fair value measurement is based on significant inputs not observable in the market and therefore constitute Level 3 inputs within the fair value hierarchy. The Company determines the fair value of the contingent consideration liabilities using a Monte Carlo simulation (which involves a simulation of future revenues during the earn out-period using management's best estimates) or a probability-weighted discounted cash flow analysis. Increases in projected revenues, estimated cash flows and probabilities of payment may result in significantly higher fair value measurements; decreases in these items may have the opposite effect. Increases in the discount rates in periods prior to payment may result in significantly lower fair value measurements and decreases in the discount rates may have the opposite effect.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Fair value standards also apply to certain assets and liabilities that are measured at fair value on a nonrecurring basis. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term nature of these items.

Borrowings under the Company’s Revolving Credit Facility, TLA Facility and TLB Facility accrue interest at a floating rate tied to a standard short-term borrowing index, selected at the Company’s option, plus an applicable margin. The carrying amount of this floating rate debt approximates fair value based upon the respective interest rates adjusting with market rate adjustments.

Equity Investments

Equity investments are comprised of the following (in thousands):



	December 31, 2019		December 28, 2018
Equity method investment	$	16,167	$	15,148
Non-marketable equity securities	6,092		7,667
Total equity investments	$	22,259	$	22,815

The components of (Gain) Loss on Equity Investments, Net for each period were as follows (in thousands):



	2019			2018			2017
Equity method investment income	$	(1,100	)	$	(5,623	)	$	(3,685	)
Impairment charges	1,575			—			5,250
Total (gain) loss on equity investments, net	$	475		$	(5,623	)	$	1,565

During 2019, the Company determined that an investment in one of its non-marketable equity securities was impaired and determined the fair value to be zero based upon available market information. This assessment was based on qualitative indications of impairment. Factors that significantly influenced the determination of the impairment loss included the equity security’s investee’s financial condition, priority claims to the equity security, distributions rights and preferences, and status of the regulatory approval required to bring its product to market. Prior to the adoption of ASU 2016-01, the Company accounted for its non-marketable equity securities under the cost method of accounting. The other than temporary impairment charges during 2017 relate to non-marketable equity securities under the cost method of accounting.

There were no observable price adjustments on non-marketable equity securities related to the adoption of ASU 2016-01 during 2018 or 2019 and this is not applicable in prior periods.

The Company’s equity method investment is in a Chinese venture capital fund focused on investing in life sciences companies. As of December 31, 2019, the Company owned 6.7% of this fund.

Pension Plan Assets

The fair value of the Company’s pension plan assets are determined based upon quoted market prices in inactive markets or valuation models with observable market data inputs to estimate fair value. These observable market data inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and reference data. The Company’s pension plan assets are categorized Level 2 of the fair value hierarchy.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

The Company organizes its business into two reportable segments: (1) Medical and (2) Non-Medical. This segment structure reflects the financial information and reports used by the Company’s management, specifically its Chief Operating Decision Maker (“CODM”), to make decisions regarding the Company’s business, including resource allocations and performance assessments. This segment structure reflects the Company’s current operating focus in compliance with ASC 280, Segment Reporting.

The Company defines segment income from operations as sales less cost of sales including amortization and expenses attributable to segment-specific selling, general, administrative, research, development, engineering and other operating activities. The remaining unallocated operating and other expenses are primarily administrative corporate headquarter expenses and capital costs that are not allocated to reportable segments. Transactions between the two segments are not significant.

The following table presents sales by product line for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Segment sales by product line:
Medical
Cardio & Vascular	$	610,056	$	585,464	$	530,831
Cardiac & Neuromodulation	457,194		443,347		428,275
Advanced Surgical, Orthopedics & Portable Medical	132,429		133,225		120,006
Total Medical	1,199,679		1,162,036		1,079,112
Non-Medical	58,415		52,976		56,968
Total sales	$	1,258,094	$	1,215,012	$	1,136,080

Geographic Area Information

The following table presents sales by significant country for fiscal years 2019, 2018 and 2017. In these tables, sales are allocated based on where the products are shipped (in thousands).



	2019		2018		2017
Sales by geographic area:
United States	$	698,474	$	687,259	$	662,133
Non-Domestic locations:
Puerto Rico	154,644		146,500		140,184
Costa Rica	63,634		62,044		55,364
Rest of world	341,342		319,209		278,399
Total sales	$	1,258,094	$	1,215,012	$	1,136,080

The following table presents revenues by significant customers, which are defined as any customer who individually represents 10% or more of a segment’s total revenues for fiscal years 2019 and 2018.



	2019				2018
Customer	Medical		Non-Medical		Medical		Non-Medical
Customer A	22	%	*		22	%	*
Customer B	18	%	*		19	%	*
Customer C	12	%	*		12	%	*
Customer D	*		22	%	*		28	%
All other customers	48	%	78	%	47	%	72	%

^__________

* Less than 10% of segment’s total revenues for the period.

(18.) SEGMENT AND GEOGRAPHIC INFORMATION (Continued)

The following table presents revenues by significant ship to location, which is defined as any country where 10% or more of a segment’s total revenues are shipped for fiscal years 2019 and 2018.



	2019		2018
Ship to Location	Medical	Non-Medical	Medical	Non-Medical
United States	55%	58%	56%	66%
Puerto Rico	13%	*	13%	*
Canada	*	13%	*	11%
Rest of world	32%	29%	31%	23%

^__________

* Less than 10% of segment’s total revenues for the period.

The following table presents income from continuing operations for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019			2018			2017
Segment income from continuing operations:
Medical	$	223,873		$	224,893		$	197,212
Non-Medical	16,289			14,697			11,335
Total segment income from continuing operations	240,162			239,590			208,547
Unallocated operating expenses	(82,527		)	(84,035		)	(82,898		)
Operating income	157,635			155,555			125,649
Unallocated expenses, net	(52,442		)	(94,439		)	(76,390		)
Income from continuing operations before taxes	$	105,193		$	61,116		$	49,259

The following table presents depreciation and amortization expense for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Segment depreciation and amortization:
Medical	$	68,867	$	71,922	$	72,314
Non-Medical	1,039		1,364		2,675
Total depreciation and amortization included in segment income from continuing operations	69,906		73,286		74,989
Unallocated depreciation and amortization	7,989		8,252		6,194
Total depreciation and amortization	$	77,895	$	81,538	$	81,183

The following table presents total assets for the Company’s reportable segments as of December 31, 2019 and December 28, 2018 (in thousands).



	December 31, 2019		December 28, 2018
Identifiable assets:
Medical	$	2,233,534	$	2,186,565
Non-Medical	51,031		53,812
Total reportable segments	2,284,565		2,240,377
Unallocated assets	68,528		86,304
Total assets	$	2,353,093	$	2,326,681

(18.) SEGMENT AND GEOGRAPHIC INFORMATION (Continued)

The following table presents capital expenditures for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Expenditures for tangible long-lived assets:
Medical	$	44,026	$	34,615	$	20,896
Non-Medical	397		573		661
Total reportable segments	44,423		35,188		21,557
Unallocated long-lived tangible assets	3,775		6,110		8,783
Total expenditures	$	48,198	$	41,298	$	30,340

The following table presents PP&E by geographic area as of December 31, 2019 and December 28, 2018. In these tables, PP&E is aggregated based on the physical location of the tangible long-lived assets (in thousands).



	December 31, 2019		December 28, 2018
Long-lived tangible assets by geographic area:
United States	$	163,350	$	151,851
Mexico	36,238		34,606
Ireland	33,126		32,190
Rest of world	13,471		12,622
Total	$	246,185	$	231,269

Revenue From Contracts With Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregated Revenue

In general, the Company's business segmentation is aligned according to the nature and economic characteristics of its products and customer relationships and provides meaningful disaggregation of each business segment's results of operations. For a summary by disaggregated product line sales for each segment, refer to Note 18, “Segment and Geographic Information.”

A significant portion of the Company’s sales for fiscal years 2019, 2018 and 2017 and accounts receivable at December 31, 2019 and December 28, 2018 were to three customers as follows:



	Sales			Accounts Receivable
	2019	2018	2017	December 31, 2019	December 28, 2018
Customer A	21%	21%	22%	13%	11%
Customer B	17%	19%	20%	19%	18%
Customer C	12%	12%	11%	20%	20%
	50%	52%	53%	52%	49%

Revenue recognized from products and services transferred to customers over time represented 12% of total revenue for fiscal year 2019, substantially all of which was within the Medical segment. The Company did not have any significant revenue related to contracts recognized over time for fiscal year 2018.

(19.) REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued)

Contract Balances

The opening and closing balances of the Company's contract assets and contract liabilities are as follows (in thousands):



	December 31, 2019		December 28, 2018
Contract assets	$	24,767	$	—
Contract liabilities	1,975		2,264

During the fiscal year ended December 31, 2019, the Company recognized $1.4 million of revenue that was included in the contract liability balance as of December 28, 2018. During the fiscal year ended December 28, 2018, the Company recognized $0.6 million of revenue that was included in the contract liability balance as of December 29, 2017.

Quarterly Sales and Earnings Data - Unaudited

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY SALES AND EARNINGS DATA - UNAUDITED

QUARTERLY SALES AND EARNINGS DATA—UNAUDITED



(in thousands, except per share data)	Fourth Quarter			Third Quarter			Second Quarter		First Quarter
Fiscal Year 2019
Sales	$	325,637		$	303,587		$	314,194	$	314,676
Gross profit	76,030		⁽¹⁾	93,386			96,984		88,610
Income from continuing operations	11,044		⁽¹⁾	30,586			28,222		21,366
EPS—basic	0.34			0.94			0.87		0.66
EPS—diluted	0.33			0.92			0.85		0.65

Fiscal Year 2018
Sales	$	303,034		$	305,088		$	314,464	$	292,426
Gross profit	88,445			91,923			98,765		83,532
Income (loss) from continuing operations	19,196			(8,303		)	23,056		13,084
EPS—basic	0.59			(0.26		)	0.72		0.41
EPS—diluted	0.58			(0.26		)	0.70		0.40

^__________

⁽¹⁾

In the fourth quarter of 2019, the Company recorded pre-tax charges and other expenses of $24 million related to the bankruptcy filing of a customer. These charges were included included in cost of sales ($21 million) and operating expenses ($3 million).

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts Disclosure

Schedule II—Valuation and Qualifying Accounts



			Col. C—Additions
Column A Description	Col. B Balance at Beginning of Period		Charged to Costs & Expenses			Charged to Other Accounts- Describe				Col. D Deductions - Describe				Col. E Balance at End of Period
December 31, 2019
Allowance for doubtful accounts	$	592	$	1,884	⁽¹⁾	$	2		⁽³⁾	$	(35	)	⁽⁴⁾	$	2,443
Valuation allowance for deferred tax assets	$	34,339	$	736	⁽²⁾	$	—			$	(12,846	)	^(2)(4)(5)	$	22,229
December 28, 2018
Allowance for doubtful accounts	$	536	$	169		$	(2	)	⁽³⁾	$	(111	)	⁽⁴⁾	$	592
Valuation allowance for deferred tax assets	$	36,480	$	—		$	(170	)	⁽³⁾	$	(1,971	)	^(2)(4)(5)	$	34,339
December 29, 2017
Allowance for doubtful accounts	$	475	$	194		$	—			$	(133	)	⁽⁴⁾	$	536
Valuation allowance for deferred tax assets	$	35,391	$	3,284	⁽²⁾	$	—			$	(2,195	)	⁽⁴⁾⁽⁵⁾	$	36,480


⁽¹⁾	Valuation allowance recorded in the provision for doubtful accounts. The 2019 amount includes a $2.3 million reserve recorded in connection with a customer bankruptcy, net of adjustments to the Company’s general reserve.

⁽²⁾

Valuation allowance recorded in the provision for income taxes for certain net operating losses and tax credits. The 2019 deductions includes a release of the allowance for net operating losses utilized during 2019, the expiration of certain net operating losses, and the expiration of certain foreign and state tax credits. The decrease in 2018 includes the impact of the divestiture of the AS&O Product Line. The increase in 2017 includes the impact of the adoption of the Tax Reform Act, which increased the value of our state deferred tax assets to which a corresponding valuation allowance was recorded.


⁽³⁾	Includes foreign currency translation effect.


⁽⁴⁾	Accounts written off.

⁽⁵⁾

Includes return to provision adjustments for prior years.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Integer Holdings Corporation and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The results of operations of the AS&O Product Line are reported as discontinued operations in the Consolidated Statements of Operations for all periods presented. The Consolidated Statements of Cash Flows includes cash flows related to the discontinued operations due to Integer’s (parent) centralized treasury and cash management processes, and, accordingly, cash flow amounts for discontinued operations are disclosed in Note 2 “Acquisition, Divestiture and Discontinued Operations.” All results and information in the consolidated financial statements are presented as continuing operations and exclude the AS&O Product Line unless otherwise noted specifically as discontinued operations.

The Company organizes its business into two reportable segments: (1) Medical and (2) Non-Medical. The discontinued operations of the AS&O Product Line were reported in the Medical segment. Refer to Note 18 “Segment and Geographic Information,” for additional information on the Company’s reportable segments.

Fiscal Year

Historically, the Company has utilized a 52/53-week fiscal year ending on the Friday nearest December 31. On October 9, 2019, the Board of Directors of Integer approved a change to the Company’s fiscal year from a year ending on the Friday nearest December 31 to a calendar year ending on December 31. The Company’s current fiscal year began on December 29, 2018 and ended on December 31, 2019. Fiscal years subsequent to 2019 will begin on January 1 and end on December 31 of each year. The Company’s first three fiscal quarters in each fiscal year will continue to end on the Friday nearest March 31, June 30 and September 30, respectively. Fiscal years 2018 and 2017 consisted of fifty-two weeks and ended on December 28, 2018 and December 29, 2017, respectively.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of sales and expenses during the reporting periods. Actual results could differ materially from those estimates.

Reclassifications

Certain prior year amounts have been reclassified to conform to current year's presentation, which management does not consider to be material.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid, short-term investments with maturities at the time of purchase of three months or less.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of accounts receivable. A significant portion of the Company’s sales and accounts receivable are to three customers, all in the medical device industry, and, as such, the Company is directly affected by the condition of those customers and that industry. However, the credit risk associated with trade receivables is partially mitigated due to the stability of those customers. The Company performs on-going credit evaluations of its customers. Note 18 “Segment and Geographic Information” contains information on sales and accounts receivable for these customers. The Company maintains cash deposits with major banks, which from time to time may exceed insured limits. The Company performs on-going credit evaluations of its banks.

Trade Accounts Receivable and Allowance for Doubtful Accounts

The Company provides credit, in the normal course of business, to its customers in the form of trade receivables. Credit is extended based on evaluation of a customer’s financial condition and collateral is not required. The Company maintains an allowance for those customer receivables that it does not expect to collect. The Company accrues its estimated losses from uncollectable accounts receivable to the allowance based upon recent historical experience, the length of time the receivable has been outstanding and other specific information as it becomes available. Provisions to the allowance for doubtful accounts are charged to current operating expenses. Actual losses are charged against this allowance when incurred.

Inventories

Inventories are stated at the lower of cost, determined using the first-in first-out method, or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Write-downs for excess, obsolete or expired inventory are based primarily on how long the inventory has been held, historical sales volume, and estimates of forecasted net sales of that product. A significant change in the timing or level of demand for products may result in recording additional write-downs for excess, obsolete or expired inventory in the future. Note 4 “Inventories” contains additional information on the Company’s inventory.

Leases

The Company determines if an arrangement is, or contains, a lease at inception and classifies it at as finance or operating. The Company does not currently have any finance leases. The Company primarily leases certain office and manufacturing facilities under operating leases, with additional operating leases for machinery, office equipment and vehicles.

Lease right-of-use (“ROU”) assets and corresponding liabilities are recognized based on the present value of the lease payments over the lease term at commencement date. When discount rates implicit in leases cannot be readily determined, the Company uses its incremental borrowing rate based on information available at commencement date in determining the present value of future payments. The incremental borrowing rate is determined based on the Company’s recent debt issuances, the Company’s specific credit rating, lease term and the currency in which lease payments are made.

Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. Lease expense is recognized on a straight-line basis over the lease term. The Company elected to combine lease and non-lease components for all asset classes. For certain leases where rent escalates based upon a change in a financial index, such as the Consumer Price Index, the difference between the rate at lease inception and the subsequent fluctuations in that rate are included in variable lease costs. Additionally, because the Company has elected to not separate lease and non-lease components, variable costs also include payments to the landlord for common area maintenance, real estate taxes, insurance and other operating expenses. In addition, the Company does not apply the recognition requirements to leases with lease terms of 12 months or less.

Property, Plant and Equipment

Property, Plant and Equipment (“PP&E”)

PP&E is carried at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets, as follows: buildings and building improvements 12-30 years; machinery and equipment 3-10 years; office equipment 3-10 years; and leasehold improvements over the remaining lives of the improvements or the lease term, whichever is shorter. The costs of repairs and maintenance are expensed as incurred; renewals and betterments are capitalized. Upon retirement or sale of an asset, its cost and related accumulated depreciation or amortization is removed from the accounts and any gain or loss is recorded in operating income or expense. The Company also reviews its PP&E for impairment when impairment indicators exist. When impairment indicators exist, the Company determines if the carrying value of its fixed assets exceeds the related undiscounted future cash flows. In cases where the carrying value of the Company's long-lived assets or asset groups (excluding goodwill and indefinite-lived intangible assets) exceeds the related undiscounted cash flows, the carrying value is written down to fair value. Fair value is generally determined using a discounted cash flow analysis. Note 5 “Property, Plant and Equipment, Net” contains additional information on the Company’s PP&E.

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1 – Valuation is based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 1 valuations do not entail a significant degree of judgment.

Level 2 – Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market.

Level 3 – Valuation is based on unobservable inputs that are significant to the overall fair value measurement. The degree of judgment in determining fair value is greatest for Level 3 valuations.

Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, assumptions are required to reflect those that market participants would use in pricing the asset or liability at the measurement date. Note 17 “Financial Instruments and Fair Value Measurements” contains additional information on assets and liabilities recorded at fair value in the consolidated financial statements.

Acquisitions

Results of operations of acquired companies are included in the Company’s results of operations as of the respective acquisition dates. The purchase price of each acquisition is allocated to the net assets acquired based on estimates of their fair values at the date of the acquisition. Any purchase price in excess of these net assets is recorded as goodwill.

In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the contingent payments it expects to make as of the acquisition date. The Company re-measures this liability each reporting period and records changes in the fair value through Other Operating Expenses. Increases or decreases in the fair value of the contingent consideration liability can result from changes in discount periods and rates, as well as changes in the timing, amount of, or the likelihood of achieving the applicable contingent consideration.

All direct acquisition-related costs are expensed as incurred. The allocation of purchase price in certain cases may be subject to revision based on the final determination of fair values during the measurement period, which may be up to one year from the acquisition date.

Discontinued Operations

In determining whether a group of assets which has been disposed of (or is to be disposed of) should be presented as a discontinued operation, the Company analyzes whether the group of assets being disposed of represented a component of the entity; that is, whether it had historic operations and cash flows that were clearly distinguished (both operationally and for financial reporting purposes). In addition, the Company considers whether the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.

The assets and liabilities of a discontinued operation held for sale, other than goodwill, are measured at the lower of carrying amount or fair value less cost to sell. When a portion of a goodwill reporting unit that constitutes a business is to be disposed of, the goodwill associated with that business is included in the carrying amount of the business based on the relative fair values of the business to be disposed of and the portion of the reporting unit that will be retained. The Company allocates interest to discontinued operations if the interest is directly attributable to the discontinued operations or is interest on debt that is required to be repaid as a result of the disposal transaction.

Goodwill

Goodwill represents the excess of cost over the fair value of identifiable net assets of a business acquired and is assigned to one or more reporting units. The Company’s reporting units are the same as its reportable segments, Medical and Non-Medical. The Company tests each reporting unit’s goodwill for impairment at least annually as of the last day of the fiscal year and between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. In conducting its goodwill test, the Company either performs a qualitative assessment or a quantitative assessment. A qualitative assessment requires that the Company consider events or circumstances including, but not limited to, macro-economic conditions, market and industry conditions, cost factors, competitive environment, changes in strategy, changes in customers, changes in the Company’s stock price, results of the last impairment test, and the operational stability and the overall financial performance of the reporting units. If, after assessing the totality of events or circumstances, the Company determines that it is more likely than not that the fair values of its reporting units are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed. The Company may elect to bypass the qualitative analysis and perform a quantitative analysis.

If the qualitative assessment indicates that the quantitative analysis should be performed or if management elects to bypass a qualitative analysis to perform a quantitative analysis, the Company then evaluates goodwill for impairment by comparing the fair value of each of its reporting units to its carrying value, including the associated goodwill. To determine the fair values, the Company uses a weighted combination of the market approach based on comparable publicly traded companies and the income approach based on estimated discounted future cash flows. The cash flow assumptions consider historical and forecasted revenue, operating costs and other relevant factors.

The Company completed its annual goodwill impairment test as of December 31, 2019 and determined, after performing a qualitative review of its Medical reporting unit, that it is more likely than not that the fair value of the Medical reporting unit exceeds its carrying amount. Accordingly, there was no indication of impairment and the quantitative goodwill impairment test was not performed for the Medical reporting unit. The Company bypassed the qualitative analysis for its Non-Medical reporting unit and performed a quantitative analysis. The fair value of the Non-Medical reporting unit exceeded its carrying amount as of December 31, 2019.

Other Intangible Assets

Other intangible assets consist of purchased technology and patents, customer lists and trademarks. Definite-lived intangible assets are amortized on an accelerated or straight-line basis, which approximates the projected cash flows used to determine the fair value of those definite-lived intangible assets at the time of acquisition, as follows: purchased technology and patents 5-15 years; customer lists 7-20 years and other intangible assets 1-10 years. Certain trademark assets are considered indefinite-lived intangible assets and are not amortized. The Company expenses the costs incurred to renew or extend the term of intangible assets.

The Company reviews its definite-lived intangible assets for impairment when impairment indicators exist. When impairment indicators exist, the Company determines if the carrying value of its definite-lived intangible assets or asset groups exceeds the related undiscounted future cash flows. In cases where the carrying value exceeds the undiscounted future cash flows, the carrying value is written down to fair value. Fair value is generally determined using a discounted cash flow analysis.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company assesses its indefinite-lived intangible assets for impairment periodically to determine if any adverse conditions exist that would indicate impairment or when impairment indicators exist. The Company assesses its indefinite-lived intangible assets for impairment at least annually by comparing the fair value of the indefinite-lived intangible asset to its carrying value. The fair value is determined using the relief from royalty method.

Refer to Note 6 “Goodwill and Other Intangible Assets, Net” for further details of the Company’s goodwill and other intangible assets.

Equity Investments

The Company holds long-term, strategic investments in companies to promote business and strategic objectives. These investments are included in Other Assets on the Consolidated Balance Sheets. Equity investments are measured and recorded as follows:

•

Non-marketable equity securities are equity securities without readily determinable fair value that are measured and recorded at fair value with changes in fair value recognized within net income. The Company has elected the practicability exception to use an alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. If an impairment is recognized on the Company’s non-marketable equity securities during the period, these assets are classified as Level 3 within the fair value hierarchy based on the nature of the fair value inputs.


•	Equity method investments are equity securities in investees the Company does not control but over which it has the ability to exercise influence. Equity method investments are measured at cost minus impairment, if any, plus or minus our share of equity method investee income or loss.

Realized and unrealized gains and losses resulting from changes in fair value or the sale of these equity investments is recorded through (Gain) Loss on Equity Investments, Net. The carrying value of the Company’s non-marketable equity securities is adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities by the same issuer. Determining whether an observed transaction is similar to a security within the Company’s portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying value of the Company’s equity securities as a result of observable price changes requires quantitative assessments of the fair value of these securities using various valuation methodologies and involves the use of estimates.

Non-marketable equity securities and equity method investments (collectively referred to as non-marketable equity investments) are also subject to periodic impairment reviews. The Company’s quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee's fair value. Qualitative factors considered include the investee's financial condition and business outlook, market for technology, operational and financing cash flow activities, technology and regulatory approval progress, and other relevant events and factors affecting the investee. When indicators of impairment exist, quantitative assessments of the fair value of the Company’s non-marketable equity investments are prepared.

To determine the fair value of these investments, the Company uses all pertinent financial information available related to the investees, including financial statements, market participant valuations from recent and proposed equity offerings, and other third-party data.


•	Non-marketable equity securities are tested for impairment using a qualitative model similar to the model used for goodwill and long-lived assets. Upon determining that an impairment may exist, the security's fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds the fair value.


•	Equity method investments are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery.

The Company has determined that its investments are not considered variable interest entities. The Company’s exposure related to these entities is limited to its recorded investment. These investments are in start-up research and development companies whose fair value is highly subjective in nature and subject to future fluctuations, which could be significant. Refer to Note 17 “Financial Instruments and Fair Value Measurements” for additional information on the Company’s equity investments.

Debt Issuance Costs and Discounts

Debt issuance costs and discounts associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt. Debt issuance costs incurred in connection with the Company’s issuance of its revolving credit facility are classified within Other Assets and amortized to Interest Expense on a straight-line basis over the contractual term of the revolving credit facility. Debt issuance costs and discounts related to the Company’s term-debt are recorded as a reduction of the carrying value of the related debt and are amortized to Interest Expense using the effective interest method over the period from the date of issuance to the put option date (if applicable) or the maturity date, whichever is earlier. The amortization of debt issuance costs and discounts are included in Debt Related Charges Included in Interest Expense in the Consolidated Statements of Cash Flows. Upon prepayment of the related debt, the Company accelerates the recognition of a proportionate amount of the costs as refinancing or extinguishment of debt. Note 8 “Debt” contains additional information on the Company’s debt issuance costs and discounts.

Income Taxes

The consolidated financial statements of the Company have been prepared using the asset and liability approach to account for income taxes, which requires the recognition of deferred income taxes for the expected future tax consequences of net operating losses, credits, and temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided on deferred tax assets if it is determined, within each taxing jurisdiction, that it is more likely than not that the asset will not be realized.

The Company accounts for uncertain tax positions using a more likely than not recognition threshold. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. These tax positions are evaluated on a quarterly basis. The Company recognizes interest expense related to uncertain tax positions as Provision (Benefit) for Income Taxes. Penalties, if incurred, are recognized as a component of Selling, General and Administrative Expenses (“SG&A”).

The Company and its subsidiaries file a consolidated U.S. federal income tax return. State tax returns are filed on a combined or separate basis depending on the applicable laws in the jurisdictions where the tax returns are filed. The Company also files foreign tax returns on a separate company basis in the countries in which it operates.

Derivative Financial Instruments

The Company recognizes all derivative financial instruments in its consolidated financial statements at fair value. Changes in the fair value of derivative instruments are recorded in earnings unless hedge accounting criteria are met. Under master agreements with the respective counterparties to our derivative contracts, subject to applicable requirements, we have the right of set-off and are allowed to net settle transactions of the same type with a single net amount payable by one party to the other. The Company designated its interest rate swaps and foreign currency forward contracts as cash flow hedges (refer to Note 17 “Financial Instruments and Fair Value Measurements”). Gains and losses on cash flow hedges are recorded in Accumulated Other Comprehensive Income in the Consolidated Balance Sheets until the underlying transaction is recorded in earnings. When the hedged item is realized, gains or losses are reclassified from Accumulated Other Comprehensive Income to the Consolidated Statement of Operations on the same line item as the underlying transaction. In the event the forecasted transactions do not occur, or it becomes probable that they will not occur, the Company reclassifies any gain or loss on the related cash flow hedge to earnings in the respective period. Cash flows related to these derivative financial instruments are included in cash flows from operating activities. The resulting cash flow from the termination of interest rate swap agreements is reported in cash flows from operations in the Consolidated Statements of Cash Flows.

Revenue Recognition

The majority of the Company’s revenues consist of sales of various medical devices and products to large, multinational OEMs and their affiliated subsidiaries. The Company considers the customer’s purchase order, which in some cases is governed by a long-term agreement, and the Company’s corresponding sales order acknowledgment as the contract with the customer. Consideration payable to customers is included in the transaction price. The Company has elected to adopt the practical expedient provided in ASC 340-40-25-4 and recognize the incremental costs of obtaining a contract, which are primarily sales commissions, as expense when incurred because the amortization period is less than one year.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company evaluates revenue recognition in contracts with customers as performance obligations are satisfied and the customer obtains control of the products. Control is defined as the ability to direct the use of and obtain substantially all of the remaining benefits of the products. The customer obtains control of the products when title and risk of ownership transfers to them, which is primarily based upon shipping terms. Most of the Company’s revenues are recognized at the point in time when the products are shipped to customers. When contracts with customers for products that do not have an alternative use to the Company contain provisions that provide the Company with an enforceable right to payment for performance completed to date for costs incurred plus a reasonable profit throughout the duration of the contract, revenue is recognized over time as control is transferred to the customer. In contracts with customers where revenue is recognized over time, the Company uses an input measure to determine progress towards completion and total estimated costs at completion. Under this method, sales and gross profit are recognized as work is performed generally based on actual costs incurred. For arrangements recognized over time, the Company records a contract asset for unbilled revenue associated with non-cancellable customer orders, which is recorded within Contract Assets on the Consolidated Balance Sheets. Revenue is recognized net of sales tax, value-added taxes and other taxes.

Performance Obligations

The Company considers each shipment of an individual product included on a purchase order to be a separate performance obligation, as each shipment is separately identifiable and the customer can benefit from each individual product separately from the other products included on the purchase order. Accordingly, a contract can have one or more performance obligations to manufacture products. Standard payment terms range from 30 to 90 days and can include a discount for early payment.

The Company does not offer its customers a right of return. Rather, the Company warrants that each unit received by the customer will meet the agreed upon technical and quality specifications and requirements. Only when the delivered units do not meet these requirements can the customer return the non-compliant units as a corrective action under the warranty. The remedy offered to the customer is repair of the returned units or replacement if repair is not viable. Accordingly, the Company records a warranty reserve and any warranty activities are not considered to be a separate performance obligation.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable and less frequently, unearned revenue. Accounts receivable are recorded when the right to consideration becomes unconditional. Unearned revenue is recorded when customers pay or are billed in advance of the Company’s satisfaction of performance obligations. Contract liabilities are classified as Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheets.

Transaction Price

Generally, the transaction price of the Company’s contracts consists of a unit price for each individual product included in the contract, which can be fixed or variable based on the number of units ordered. In some instances, the transaction price also includes a rebate for meeting certain volume-based targets over a specified period of time. The transaction price of a contract is determined based on the unit price and the number of units ordered, reduced by the rebate expected to be earned on those units. Rebates are estimated based on the expected achievement of the volume-based target using the most likely amount method and updated quarterly. Any adjustments to these estimates are recognized under the cumulative catch-up method, such that impact of the adjustment is recognized in the period in which it is identified. When contracts with customers include consideration payable at the beginning of the contract, the transaction price is reduced at the later of when the Company recognizes revenue for the transfer of the related goods to the customer or when we pay or promise to pay the consideration. Volume discounts and rebates and other pricing concessions earned by customers are offset against their receivable balances.

The transaction price is allocated to each performance obligation on a relative standalone selling price basis. As the majority of products sold to customers are manufactured to meet the specific requirements and technical specifications of that customer, the products are considered unique to that customer and the unit price stated in the contract is considered the standalone selling price.

The Company has elected to adopt the practical expedient provided in ASC 606-10-50-14 and not disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations and an expectation of when those amounts are expected to be recognized as revenue because the majority of contracts have an original expected duration of one year or less.

Contract Modifications

Contract modifications, which can include a change in scope, price, or both, most often occur related to contracts that are governed by a long-term arrangement. Contract modifications typically relate to the same products already governed by the long-term arrangement, and therefore, are accounted for as part of the existing contract. If a contract modification is for additional products, it is accounted for as a separate contract.

Environmental Costs

Environmental expenditures that relate to an existing condition caused by past operations and that do not provide future benefits are expensed as incurred. Liabilities are recorded when environmental assessments are made, the requirement for remedial efforts is probable and the amount of the liability can be reasonably estimated. Liabilities are recorded generally no later than the completion of feasibility studies. The Company has a process in place to monitor, identify, and assess how the current activities for known exposures are progressing against the recorded liabilities. The process is also designed to identify other potential remediation sites that are not presently known.

Restructuring Expenses

The Company continually evaluates alternatives to align the business with the changing needs of its customers and to lower operating costs. This includes realignment of existing manufacturing capacity, facility closures, or similar actions, either in the normal course of business or pursuant to significant restructuring programs. These actions may result in voluntary or involuntary employee termination benefits. Voluntary termination benefits are accrued when an employee accepts the related offer. Involuntary termination benefits are accrued upon the commitment to a termination plan and the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable, depending on the existence of a substantive plan for severance or termination. All other exit costs are expensed as incurred. Refer to Note 11 “Other Operating Expenses” for additional information.

Product Warranties

The Company allows customers to return defective or damaged products for credit, replacement, or repair. The Company warrants that its products will meet customer specifications and will be free from defects in materials and workmanship. The Company accrues its estimated exposure to warranty claims, through Cost of Sales, based upon experience and other specific information as it becomes available. The product warranty liability is classified as Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheets. Adjustments to pre-existing estimated exposure for warranties are made as changes to the obligations become reasonably estimable. Note 13 “Commitments and Contingencies” contains additional information on the Company’s product warranties.

Research, Development and Engineering Costs, Net (RD&E)

Research, Development and Engineering Costs (“RD&E”)

RD&E costs are expensed as incurred. The primary costs are salary and benefits for personnel, material costs used in development projects and subcontracting costs.

Stock-Based Compensation

The Company recognizes stock-based compensation expense for its compensation plans. These plans include stock options, restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PRSUs”). For the Company's PRSUs, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of targets based on market conditions, such as total shareholder return, or performance conditions based on the Company’s operating results. The Company records forfeitures of equity awards in the period in which they occur.

The fair value of the stock-based compensation is determined at the grant date. The Company uses the Black-Scholes standard option pricing model (“Black-Scholes model”) to determine the fair value of stock options. The fair value of each RSU and RSA is determined based on the Company's closing stock price on the date of grant. The fair value of each PRSU is determined based on either the Company's closing stock price on the date of grant or through a Monte Carlo simulation valuation model (“Monte Carlo model”) for those awards that include a market-based condition. In addition to the closing stock price on the date of grant, the determination of the fair value of awards using both the Black-Scholes and Monte Carlo models is affected by other assumptions, including the following:

Expected Term - The Company analyzes historical employee exercise and termination data to estimate the expected term assumption for stock options. For market-based awards, the term is commensurate with the performance period remaining as of the grant date.

Risk-free Interest Rate - A risk-free rate is based on the U.S. Treasury rates in effect on the grant date for a maturity equal to or approximating the expected term of the award.

Expected Volatility - For stock options, expected volatility is calculated using historical volatility based on the daily closing prices of the Company's common stock over a period equal to the expected term. For market-based awards, a combination of historical and implied volatilities for the Company and members of its peer group are used in developing the expected volatility assumption.

Dividend Yield - The dividend yield assumption is based on the Company’s history and the expected annual dividend yield on the grant date.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

The Company recognizes compensation expense over the required service or vesting period based on the fair value of the award on the date of grant. Certain executive stock-based awards contain market, performance and service conditions. Compensation expense for awards with market conditions is recognized over the service period and is not reversed if the market condition is not met. Compensation expense for awards with performance conditions is reassessed each reporting period and recognized based upon the probability that the performance targets will be achieved.

All stock option awards granted under the Company’s compensation plans have an exercise price equal to the closing stock price on the date of grant, a ten-year contractual life and generally, vest annually over a three-year vesting term. RSUs typically vest in equal annual installments over a three or four year period. RSUs issued to members of the Company’s Board of Directors as a portion of their annual retainer vest quarterly over a one-year vesting term. Earned PRSUs typically vest two or three years from the date of grant.

The Company records deferred tax assets for awards that result in deductions on the Company's income tax returns, based on the amount of stock-based compensation expense recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax deduction reported on the income tax return are recorded as a component of Provision (Benefit) for Income Taxes in the Consolidated Statements of Operations. Note 10 “Stock-Based Compensation” contains additional information on the Company’s stock-based compensation.

Foreign Currency Translation

Foreign Currency Translation and Remeasurement

The Company translates all assets and liabilities of its foreign subsidiaries, where the U.S. dollar is not the functional currency, at the period-end exchange rate and translates income and expenses at the average exchange rates in effect during the period. The net effect of this translation is recorded in the consolidated financial statements as a component of Accumulated Other Comprehensive Income. Translation adjustments are not adjusted for income taxes as they relate to permanent investments in the Company’s foreign subsidiaries.

The Company has foreign operations in Ireland, Israel, Malaysia, Mexico, Switzerland, and Uruguay, which expose the Company to foreign currency exchange rate fluctuations due to transactions denominated in Euros, Israeli shekel, Malaysian ringgits, Mexican pesos, Swiss francs, and Uruguayan pesos. To the extent that monetary assets and liabilities, including short-term and long-term intercompany loans, are recorded in a currency other than the functional currency of the subsidiary, these amounts are remeasured each period at the period-end exchange rate, with the resulting gain or loss being recorded in Other (Income) Loss, Net in the Consolidated Statements of Operations. Net foreign currency transaction losses included in Other (Income) Loss, Net amounted to $0.1 million, $1.6 million and $10.9 million for 2019, 2018 and 2017, respectively, and primarily related to the remeasurement of intercompany loans and the fluctuation of the U.S. dollar relative to the Euro.

Defined Benefit Plans

The Company recognizes in its balance sheet as an asset or liability the overfunded or underfunded status of its defined benefit plans provided to its employees located in Mexico and Switzerland. This asset or liability is measured as the difference between the fair value of plan assets, if any, and the benefit obligation of those plans. For these plans, the benefit obligation is the projected benefit obligation, which is calculated based on actuarial computations of current and future benefits for employees. Actuarial gains or losses and prior service costs or credits that arise during the period, but are not included as components of net periodic benefit expense, are recognized as a component of Accumulated Other Comprehensive Income. The Company records the service cost component of net benefit costs in Cost of Sales and SG&A Expenses. The interest cost component of net benefit costs is recorded in Interest Expense and the remaining components of net benefit costs, amortization of net losses and expected return on plan assets, are recorded in Other (Income) Loss, Net.

Earnings Per Share (EPS)

Earnings Per Share (“EPS”)

Basic EPS is calculated by dividing Net Income (Loss) by the weighted average number of shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted average number of shares outstanding for potential common shares if dilutive to the EPS calculation. Note 15 “Earnings Per Share” contains additional information on the computation of the Company’s EPS.

Comprehensive Income

The Company’s comprehensive income as reported in the Consolidated Statements of Comprehensive Income includes net income, foreign currency translation adjustments, the net change in cash flow hedges, net of tax, and defined benefit plan liability adjustments, net of tax. The Consolidated Statements of Comprehensive Income and Note 16 “Stockholders’ Equity” contain additional information on the computation of the Company’s comprehensive income.

Recently Accounting Pronouncements Adopted And Not Yet Effective

Recent Accounting Pronouncements

In the normal course of business, management evaluates all new Accounting Standards Updates (“ASU”) and other accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”), Securities and Exchange Commission (“SEC”), or other authoritative accounting bodies to determine the potential impact they may have on the Company’s Consolidated Financial Statements. Except as noted below, management does not expect any of the recently issued accounting pronouncements, which have not already been adopted, to have a material impact on the Company’s Consolidated Financial Statements.

Accounting Guidance Adopted in Fiscal Year 2019

Adoption of ASC Topic 842

The Company adopted ASC 842, Leases, effective December 29, 2018, the first day of the Company’s 2019 fiscal year. ASC 842 requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The Company elected to transition to ASC 842 using the option to not restate comparative periods and apply the standard as of the date of initial application. In addition, certain practical expedients were elected which permit the Company to not reassess whether existing contracts are or contain leases, to not reassess the lease classification of any existing leases, and to not reassess initial direct costs for any existing leases. The Company also elected the practical expedient to not separate lease and non-lease components for all classes of underlying assets and the practical expedient related to land easements, allowing the Company to carry-forward its accounting treatment for land easements on existing agreements. The Company did not elect the practical expedient pertaining to the use of hindsight. The Company also made an accounting policy election to keep leases with an initial term of 12 months or less and no purchase option the Company is reasonably certain to exercise off the balance sheet for all classes of underlying assets.

As a result of the adoption of ASC 842, the Company recognized operating lease right-of-use assets of $40.9 million and operating lease liabilities of $43.4 million on December 29, 2018. The difference between the lease assets and lease liabilities primarily represents the existing prepaid rent assets, deferred rent liabilities, and tenant improvement allowances, along with a cumulative-effect adjustment to beginning retained earnings. The adoption of ASC 842 did not have a material impact on the Company’s Consolidated Statement of Operations and Consolidated Statement of Cash Flows for the periods presented.

Refer to Note 14 “Leases” for additional information on the Company’s leases.

Adoption of ASU 2017-12

In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. ASU 2017-12 amends the designation and measurement guidance for qualifying hedging transactions and the presentation of hedge results in an entity’s financial statements. The new guidance removes the concept of separately measuring and reporting hedge ineffectiveness and requires a company to present the earnings effect of the hedging instrument, including any ineffectiveness, in the same income statement line item in which the earnings effect of the hedged item is reported.

ASU 2017-12 continues to allow an entity to exclude the time value of options and forward points from the assessment of hedge effectiveness. For excluded components in cash flow hedges, the base recognition model under this ASU is an amortization approach. An entity still may elect to record changes in the fair value of the excluded component currently in earnings; however, such an election will need to be applied consistently to similar hedges. The Company has elected to continue to record changes in the fair value of the excluded components of its derivative instruments currently in earnings given their highly effective nature.

The Company adopted ASU 2017-12 on December 29, 2018, the first day of the Company’s 2019 fiscal year, which did not materially affect the Company’s results of operations. The Company adopted the guidance on the modified retrospective basis and did not recognize a cumulative effect adjustment upon adoption as the Company had not recognized ineffectiveness on any of the hedging instruments existing as of the date of adoption. Refer to Note 17 “Financial Instruments and Fair Value Measurements” for additional information and disclosures of the Company’s derivatives and hedging activities.

(1.) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Accounting Pronouncements Not Yet Effective

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the current incurred loss impairment methodology for most financial assets with the current expected credit loss (“CECL”) methodology. Under the CECL method, the Company will be required to immediately recognize an estimate of credit losses expected to occur over the life of the financial asset at the time financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are required to be recognized each period. The standard was effective for the Company on January 1, 2020 and will be adopted using a modified retrospective transition method through a cumulative-effect adjustment to retained earnings. The Company does not expect the new credit loss standard to have a material impact to the Consolidated Financial Statements.

Acquisition, Divesture And Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Summary of discontinued operations

Income (loss) from discontinued operations for fiscal years 2019, 2018 and 2017 were as follows (in thousands):



	2019			2018			2017
Sales	$	—		$	178,020		$	325,841
Cost of sales	—			148,357			286,300
Gross profit	—			29,663			39,541
SG&A expenses	—			8,905			18,500
Research, development and engineering costs	—			2,352			6,397
Other operating expenses	—			1,805			854
Interest expense	—			22,833			42,488
Gain on sale of discontinued operations	(4,974		)	(194,965		)	—
Other (income) loss, net	(322		)	420			(1,266		)
Income (loss) from discontinued operations before taxes	5,296			188,313			(27,432		)
Provision (benefit) for income taxes	178			67,382			(7,024		)
Income (loss) from discontinued operations	$	5,118		$	120,931		$	(20,408	)

Interest expense included in discontinued operations reflects an estimate of interest expense related to the debt that was required to be repaid with the proceeds from the sale of the AS&O Product Line.

Cash flow information from discontinued operations for fiscal years 2019, 2018 and 2017 was as follows (in thousands):



	2019			2018			2017
Cash provided by (used in) operating activities	$	(78	)	$	(12,498	)	$	3,167
Cash provided by (used in) investing activities	4,734			577,833			(16,771		)
Depreciation and amortization	$	—		$	7,450		$	21,613
Capital expenditures	—			3,610			16,844

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow

The following represents supplemental cash flow information for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Non-cash investing and financing activities:
Property, plant and equipment purchases included in accounts payable	$	8,646	$	2,303	$	3,474
Cash paid (refunded) during the year for:
Interest	44,784		79,661		93,839
Income taxes	30,034		23,155		(8,185		)

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories comprise the following (in thousands):



	December 31, 2019		December 28, 2018
Raw materials	$	79,742	$	80,213
Work-in-process	60,042		75,711
Finished goods	27,472		34,152
Total	$	167,256	$	190,076

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PP&E comprises the following (in thousands):



	December 31, 2019			December 28, 2018
Manufacturing machinery and equipment	$	285,793		$	261,912
Buildings and building improvements	96,539			95,886
Information technology hardware and software	64,328			60,901
Leasehold improvements	69,012			61,418
Furniture and fixtures	15,517			15,082
Land and land improvements	11,541			11,544
Construction work in process	37,470			23,886
Other	1,181			1,048
	581,381			531,677
Accumulated depreciation	(335,196		)	(300,408		)
Total	$	246,185		$	231,269

Depreciation Expense Disclosure

Depreciation expense for PP&E was as follows for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Depreciation expense	$	37,819	$	40,078	$	38,077

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The change in the carrying amount of goodwill by reportable segment during fiscal years 2019 and 2018 was as follows (in thousands):



	Medical			Non-Medical		Total
December 29, 2017	$	822,870		$	17,000	$	839,870
Foreign currency translation	(7,532		)	—		(7,532		)
December 28, 2018	815,338			17,000		832,338
Goodwill related to acquisition (Note 2)	10,527			—		10,527
Foreign currency translation	(3,248		)	—		(3,248		)
December 31, 2019	$	822,617		$	17,000	$	839,617

Schedule of Finite-Lived Intangible Assets

Intangible assets comprise the following (in thousands):



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
December 31, 2019
Definite-lived:
Purchased technology and patents	$	248,264	$	(138,435	)	$	109,829
Customer lists	706,852		(131,185		)	575,667
Other	3,503		(3,503		)	—
Total amortizing intangible assets	$	958,619	$	(273,123	)	$	685,496
Indefinite-lived:
Trademarks and tradenames						$	90,288

December 28, 2018
Definite-lived:
Purchased technology and patents	$	241,726	$	(125,540	)	$	116,186
Customer lists	710,406		(104,556		)	605,850
Other	3,503		(3,489		)	14
Total amortizing intangible assets	$	955,635	$	(233,585	)	$	722,050
Indefinite-lived:
Trademarks and tradenames						$	90,288

Schedule of Indefinite-Lived Intangible Assets

Intangible assets comprise the following (in thousands):



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
December 31, 2019
Definite-lived:
Purchased technology and patents	$	248,264	$	(138,435	)	$	109,829
Customer lists	706,852		(131,185		)	575,667
Other	3,503		(3,503		)	—
Total amortizing intangible assets	$	958,619	$	(273,123	)	$	685,496
Indefinite-lived:
Trademarks and tradenames						$	90,288

December 28, 2018
Definite-lived:
Purchased technology and patents	$	241,726	$	(125,540	)	$	116,186
Customer lists	710,406		(104,556		)	605,850
Other	3,503		(3,489		)	14
Total amortizing intangible assets	$	955,635	$	(233,585	)	$	722,050
Indefinite-lived:
Trademarks and tradenames						$	90,288

Schedule of Finite-Lived Intangible Assets, Amortization Expense

Aggregate intangible asset amortization expense is comprised of the following for fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Cost of Sales	$	13,111	$	14,134	$	15,183
SG&A	26,965		26,658		24,840
RD&E	—		154		545
Other Operating Expenses (“OOE”)	—		514		2,538
Total intangible asset amortization expense	$	40,076	$	41,460	$	43,106

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future intangible asset amortization expense based upon the carrying value as of December 31, 2019 is as follows (in thousands):



	2020		2021		2022		2023		2024		After 2024
Amortization Expense	$	40,438	$	39,898	$	39,161	$	37,755	$	36,798	$	491,446

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Accounts Payable and Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities and Other Current Liabilities

Accrued expenses and other current liabilities are comprised of the following (in thousands):



	December 31, 2019		December 28, 2018
Profit sharing and bonuses	$	26,060	$	22,912
Salaries and benefits	20,997		21,830
Deferred revenue	1,975		2,482
Product warranties	1,933		2,600
Accrued interest	1,885		1,944
Other	13,223		8,722
Total	$	66,073	$	60,490

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt is comprised of the following (in thousands):



	December 31, 2019			December 28, 2018
Senior secured term loan A	$	267,188		$	304,687
Senior secured term loan B	558,286			632,286
Revolving line of credit	—			5,000
Unamortized discount on term loan B and debt issuance costs	(10,702		)	(16,466		)
Total debt	814,772			925,507
Current portion of long-term debt	(37,500		)	(37,500		)
Total long-term debt	$	777,272		$	888,007

Schedule of Maturities of Long-term Debt

Contractual maturities of the Company’s debt facilities for the next five years and thereafter, excluding any discounts or premiums, as of December 31, 2019 are as follows (in thousands):



	2020		2021		2022
Future minimum principal payments	$	37,500	$	37,500	$	750,474

Schedule of Deferred Financing Costs

The change in deferred debt issuance costs related to the Company’s Revolving Credit Facility is as follows (in thousands):



December 29, 2017	$	2,808
Amortization during the period	(991		)
December 28, 2018	1,817
Financing costs incurred	302
Write-off of debt issuance costs⁽¹⁾	(150		)
Amortization during the period	(939		)
December 31, 2019	$	1,030

The change in unamortized discount and debt issuance costs related to the Term Loan Facilities and Senior Notes is as follows (in thousands):



	Debt Issuance Costs			Unamortized Discount on TLB Facility			Total
December 29, 2017	$	26,889		$	6,389		$	33,278
Write-off of debt issuance costs and unamortized discount⁽¹⁾	(9,757		)	(1,610		)	(11,367		)
Amortization during the period	(4,419		)	(1,026		)	(5,445		)
December 28, 2018	12,713			3,753			16,466
Financing costs incurred	919			—			919
Write-off of debt issuance costs and unamortized discount⁽¹⁾	(1,913		)	(482		)	(2,395		)
Amortization during the period	(3,440		)	(848		)	(4,288		)
December 31, 2019	$	8,279		$	2,423		$	10,702

^__________

⁽¹⁾

The Company recognized losses from extinguishment of debt in connection with prepaying portions of its TLB Facility during 2019 and 2018, amending the Senior Secured Credit Facilities during 2019, and redeeming its Senior Notes during 2018. The losses from extinguishment of debt are included in Interest Expense in the accompanying Consolidated Statements of Operations.

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions

The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows:



	2019			2018			2017
Weighted average fair value	$	117.03		$	37.46		$	25.41
Risk-free interest rate	2.46		%	2.28		%	1.14		%
Expected volatility	40		%	40		%	48		%
Expected life (in years)	2.8			2.9			1.8
Expected dividend yield	—		%	—		%	—		%

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The components and classification of stock-based compensation expense for fiscal years 2019, 2018 and 2017 were as follows (in thousands):



	2019		2018		2017
Stock options	$	410	$	873	$	1,633
RSAs and RSUs	8,884		9,183		11,819
Stock-based compensation expense - continuing operations	9,294		10,056		13,452
Discontinued operations	—		414		1,228
Total stock-based compensation expense	$	9,294	$	10,470	$	14,680

Cost of sales	$	1,011	$	849	$	748
SG&A	7,827		9,090		9,893
RD&E	269		112		642
OOE	187		5		2,169
Discontinued operations	—		414		1,228
Total stock-based compensation expense	$	9,294	$	10,470	$	14,680

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table includes the weighted average grant date fair value of stock options granted to employees during fiscal years 2018 and 2017 and the related weighted average assumptions used in the Black-Scholes model:



	2018			2017
Weighted average fair value of options granted	$	14.89		$	12.86
Assumptions:
Expected term (in years)	4.0			4.5
Risk-free interest rate	2.21		%	1.77		%
Expected volatility	39		%	37		%
Expected dividend yield	0		%	0		%

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity during the fiscal year ended December 31, 2019:



	Number of Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding at December 28, 2018	522,783		$	31.88
Exercised	(138,770	)	23.36
Outstanding at December 31, 2019	384,013		$	34.96	5.1	$	17.5
Vested and expected to vest at December 31, 2019	384,013		$	34.96	5.1	$	17.5
Exercisable at December 31, 2019	349,698		$	34.55	4.9	$	21.8

Schedule Of Stock Option Exercise Information

The following table provides certain information relating to the exercise of stock options during fiscal years 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Intrinsic value	$	7,998	$	17,722	$	13,928
Cash received	3,242		12,409		19,324

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes time-vested RSA and RSU activity during the fiscal year ended December 31, 2019:



	Time-Vested Activity		Weighted Average Grant Date Fair Value
Nonvested at December 28, 2018	142,236		$	49.78
Granted	116,387		82.31
Vested	(31,386	)	65.62
Forfeited	(22,014	)	59.64
Nonvested at December 31, 2019	205,223		$	64.75

The following table summarizes PRSU activity during the fiscal year ended December 31, 2019:



	Performance- Vested Activity		Weighted Average Grant Date Fair Value
Nonvested at December 28, 2018	287,134		$	36.15
Granted	50,492		101.17
Vested	(75,008	)	28.41
Forfeited	(71,026	)	36.17
Nonvested at December 31, 2019	191,592		$	56.30

Other Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring Cost and Reserve [Line Items]

Schedule of Other Operating Cost and Expense, by Component

OOE for fiscal years 2019, 2018 and 2017 is comprised of the following (in thousands):



	2019		2018		2017
Strategic reorganization and alignment	$	5,812	$	10,624	$	5,891
Manufacturing alignment to support growth	2,145		3,089		—
Consolidation and optimization initiatives	—		844		12,803
Acquisition and integration costs	377		—		10,870
Other general expenses	3,817		1,508		6,874
Total other operating expenses	$	12,151	$	16,065	$	36,438

Consolidation and optimization initiatives [Member]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the change in accrued liabilities related to the initiatives described above (in thousands):



	Severance and Retention			Other			Total
December 28, 2018	$	1,668		$	202		$	1,870
Restructuring charges	2,095			5,862			7,957
Cash payments	(2,374		)	(5,468		)	(7,842		)
December 31, 2019	$	1,389		$	596		$	1,985

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

ncome from continuing operations before taxes for fiscal years 2019, 2018 and 2017 consisted of the following (in thousands):



	2019		2018			2017
U.S.	$	40,203	$	(4,273	)	$	306
International	64,990		65,389			48,953
Total income from continuing operations before taxes	$	105,193	$	61,116		$	49,259

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes from continuing operations for fiscal years 2019, 2018 and 2017 was comprised of the following (in thousands):



	2019			2018			2017
Current:
Federal	$	14,090		$	80		$	(1,558	)
State	87			166			(29		)
International	10,083			9,490			8,539
	24,260			9,736			6,952
Deferred:
Federal	(8,813		)	6,610			(45,114		)
State	332			103			(295		)
International	(1,804		)	(2,366		)	629
	(10,285		)	4,347			(44,780		)
Total provision (benefit) for income taxes	$	13,975		$	14,083		$	(37,828	)

Schedule of Effective Income Tax Rate Reconciliation

The provision (benefit) for income taxes from continuing operations differs from the U.S. statutory rate for fiscal years 2019, 2018 and 2017 due to the following:



	2019					2018					2017
Statutory rate	$	22,091		21.0	%	$	12,834		21.0	%	$	17,240		35.0	%
Federal tax credits (including R&D)	(4,797		)	(4.6	)	(1,700		)	(2.8	)	(1,674		)	(3.4	)
Foreign rate differential	(5,479		)	(5.2	)	(6,040		)	(9.9	)	(12,934		)	(26.3	)
Stock-based compensation	(2,422		)	(2.3	)	(2,821		)	(4.6	)	(3,232		)	(6.6	)
Uncertain tax positions	(920		)	(0.9	)	147			0.2		34			0.1
State taxes, net of federal benefit	1,106			1.1		975			1.6		(543		)	(1.1	)
U.S. tax on foreign earnings, net of §250 deduction	5,201			4.9		10,473			17.1		1,471			3.0
Valuation allowance	(1,606		)	(1.5	)	(567		)	(0.9	)	1,030			2.1
Tax Reform Act	—			—		11			—		(39,394		)	(80.0	)
Other	801			0.8		771			1.3		174			0.4
Effective tax rate	$	13,975		13.3	%	$	14,083		23.0	%	$	(37,828	)	(76.8	)%

Schedule of Deferred Tax Assets and Liabilities

The net deferred tax liability consists of the following (in thousands):



	December 31, 2019			December 28, 2018
Tax credit carryforwards	$	14,921		$	24,593
Inventories	11,333			3,408
Net operating loss carryforwards	8,254			18,088
Operating lease liabilities	5,544			—
Stock-based compensation	4,844			2,340
Accrued expenses	4,625			39
Gross deferred tax assets	49,521			48,468
Less valuation allowance	(22,229		)	(34,339		)
Net deferred tax assets	27,292			14,129
Property, plant and equipment	(6,017		)	(9,445		)
Intangible assets	(192,091		)	(198,648		)
Operating lease assets	(5,161		)	—
Other	(7,563		)	(6,009		)
Gross deferred tax liabilities	(210,832		)	(214,102		)
Net deferred tax liability	$	(183,540	)	$	(199,973	)
Presented as follows:
Noncurrent deferred tax asset	$	4,438		$	3,937
Noncurrent deferred tax liability	(187,978		)	(203,910		)
Net deferred tax liability	$	(183,540	)	$	(199,973	)

Summary of Operating Loss and Tax Credit Carryforwards

As of December 31, 2019, the Company has the following carryforwards available:



Jurisdiction	Tax Attribute	Amount (in millions)		Begin to Expire
U.S. State	Net operating losses⁽¹⁾	$	111.2	2020
International	Net operating losses⁽¹⁾	2.6		2023
U.S. Federal	Foreign tax credits	9.0		2020
U.S. Federal and State	R&D tax credits	2.3		2020
U.S. State	Investment tax credits	5.1		2020

^__________

⁽¹⁾

Net operating losses (“NOLs”) are presented as pre-tax amounts. As of December 31, 2018, the Company had $39.1 million of federal NOL carryforwards available. The Company utilized the remainder of the federal NOLs in 2019.

Summary of Income Tax Contingencies

Below is a summary of changes to the unrecognized tax benefit for fiscal years 2019, 2018 and 2017 (in thousands):



	2019			2018⁽¹⁾			2017⁽²⁾
Balance, beginning of year	$	5,369		$	12,088		$	10,561
Additions based upon tax positions related to the current year	300			300			3,833
Reductions related to prior period tax returns	(1,223		)	(75		)	(14		)
Reductions relating to settlements with tax authorities	—			(98		)	—
Reductions relating to divestiture	—			(6,846		)	—
Reductions as a result of a lapse of applicable statute of limitations	—			—			(510		)
Revaluation due to change in tax rate (Tax Reform Act)	—			—			(1,782		)
Balance, end of year	$	4,446		$	5,369		$	12,088

^__________


⁽¹⁾	The amounts for 2018 reflect discontinued operations through the date of divestiture of the AS&O Product Line, which is reflected in the table as a reduction relating to divestiture.

⁽²⁾

The amounts for 2017 include discontinued operations.

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The change in product warranty liability for fiscal years 2019 and 2018 was comprised of the following (in thousands):



	2019			2018
Beginning balance	$	2,600		$	2,820
Additions to warranty reserve, net of reversals	2,605			620
Adjustments to pre-existing warranties	(1,039		)	—
Warranty claims settled	(2,233		)	(840		)
Ending balance	$	1,933		$	2,600

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Lease Term, Discount Rate, Lease Costs and Supplemental Cash Flow Information (Topic 842)

Supplemental cash flow information related to leases for the fiscal year ended December 31, 2019 is as follows (in thousands):



Cash paid for amounts included in the measurement of operating lease liabilities	$	10,235
ROU assets obtained in exchange for new operating lease liabilities	8,778

The following table presents the weighted average remaining lease term and discount rate as of December 31, 2019:



Weighted-average remaining lease term of operating leases (in years)	7.4
Weighted-average discount rate of operating leases	5.5	%

The components and classification of lease cost as of December 31, 2019 are as follows (in thousands):



Operating lease cost	$	9,870
Short-term lease cost (leases with initial term of 12 months or less)	57
Variable lease cost	2,419
Sublease income	(1,894		)
Total lease cost	$	10,452

Cost of sales	$	8,772
SG&A expenses	1,107
Research, development and engineering costs	556
Other operating expenses	17
Total lease cost	$	10,452

Schedule of Lease Expense (Topic 840)

Operating lease expense for fiscal years 2018 and 2017, under ASC 840, the predecessor to ASC 842, were as follows (in thousands):



	2018		2017
Operating lease expense	$	10,753	$	14,320

Schedule of Operating Lease Liability Maturities (Topic 842)

At December 31, 2019, the maturities of operating lease liabilities were as follows (in thousands):



2020	9,793
2021	9,284
2022	7,136
2023	6,279
2024	5,755
Thereafter	16,624
Total lease payments	54,871
Less imputed interest	(10,250		)
Total	$	44,621

Schedule of Future Minimum Rental Payments for Operating Leases (Topic 840)

The Company’s future minimum lease commitments, net of sublease income, as of December 28, 2018, under ASC 840 were as follows (in thousands):



	2019		2020	2021	2022	2023	After 2023
Future minimum lease payments	$	8,562	7,290	7,348	5,269	5,112	14,589

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth a reconciliation of the information used in computing basic and diluted EPS for fiscal years 2019, 2018 and 2017 (in thousands, except per share amounts):



	2019		2018		2017
Numerator for basic and diluted EPS:
Income from continuing operations	$	91,218	$	47,033	$	87,087
Income (loss) from discontinued operations	5,118		120,931		(20,408		)
Net income	$	96,336	$	167,964	$	66,679
Denominator for basic EPS:
Weighted average shares outstanding	32,627		32,136		31,402
Effect of dilutive securities:
Stock options, restricted stock and restricted stock units	410		460		654
Denominator for diluted EPS	33,037		32,596		32,056

Basic earnings (loss) per share:
Income from continuing operations	$	2.80	$	1.46	$	2.77
Income (loss) from discontinued operations	0.16		3.76		(0.65		)
Basic earnings per share	2.95		5.23		2.12

Diluted earnings (loss) per share:
Income from continuing operations	$	2.76	$	1.44	$	2.72
Income (loss) from discontinued operations	0.15		3.71		(0.64		)
Diluted earnings per share	2.92		5.15		2.08

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The diluted weighted average share calculations do not include the following securities for fiscal years 2019, 2018 and 2017, which are not dilutive to the EPS calculations or the performance criteria have not been met (in thousands):



	2019	2018	2017
Time-vested stock options, restricted stock and restricted stock units	30	237	676
Performance-vested restricted stock units	47	144	285

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Changes in Number of Shares of Common Stock

The following table sets forth the changes in the number of shares of common stock for fiscal years 2019 and 2018:



	Issued	Treasury Stock		Outstanding
2019
Shares outstanding at beginning of year	32,624,494	(151,327	)	32,473,167
Stock options exercised	116,904	21,866		138,770
RSAs issued, net of forfeitures, and vesting of RSUs	105,619	(17,085	)	88,534
Shares outstanding at end of year	32,847,017	(146,546	)	32,700,471

2018
Shares outstanding at beginning of year	31,977,953	(106,526	)	31,871,427
Stock options exercised	413,317	—		413,317
RSAs issued, net of forfeitures, and vesting of RSUs	233,224	(44,801	)	188,423
Shares outstanding at end of year	32,624,494	(151,327	)	32,473,167

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (“AOCI”) is comprised of the following (in thousands):



	Defined Benefit Plan Liability			Cash Flow Hedges			Foreign Currency Translation Adjustment			Total Pre-Tax Amount			Tax			Net-of-Tax Amount
December 29, 2017	$	(1,422	)	$	3,418		$	50,200		$	52,196		$	(17	)	$	52,179
Unrealized gain on cash flow hedges	—			1,904			—			1,904			(400		)	1,504
Realized gain on foreign currency hedges	—			(186		)	—			(186		)	39			(147		)
Realized gain on interest rate swap hedges	—			(1,697		)	—			(1,697		)	356			(1,341		)
Net defined benefit plan adjustments	232			—			—			232			70			302
Foreign currency translation loss	—			—			(19,925		)	(19,925		)	—			(19,925		)
Reclassifications to earnings⁽¹⁾	895			—			264			1,159			$	(261	)	898
Reclassification to retained earnings⁽²⁾	—			—			—			—			(466		)	(466		)
December 28, 2018	$	(295	)	$	3,439		$	30,539		$	33,683		$	(679	)	$	33,004
Unrealized loss on cash flow hedges	—			(4,028		)	—			(4,028		)	846			(3,182		)
Realized gain on foreign currency hedges	—			(148		)	—			(148		)	31			(117		)
Realized gain on interest rate swap hedges	—			(1,621		)	—			(1,621		)	340			(1,281		)
Net defined benefit plan adjustments	(617		)	—			—			(617		)	81			(536		)
Foreign currency translation loss	—			—			(7,900		)	(7,900		)	—			(7,900		)
December 31, 2019	$	(912	)	$	(2,358	)	$	22,639		$	19,369		$	619		$	19,988

^__________


⁽¹⁾	Accumulated foreign currency translation losses of $0.3 million and defined benefit plan liabilities of $0.6 million (net of income taxes of $0.3 million) were reclassified to earnings during 2018 as a result of the divestiture of the AS&O Product Line.

⁽²⁾

Represents the stranded tax effects reclassified from AOCI to retained earnings resulting from the adoption of ASU 2018-02 during 2018.

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands):



	Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2019
Assets: Foreign currency contracts	$	710	$	—	$	710	$	—
Liabilities: Interest rate swaps	3,068		—		3,068		—
Liabilities: Contingent consideration	4,200		—		—		4,200

December 28, 2018
Assets: Interest rate swaps	$	4,171	$	—	$	4,171	$	—
Liabilities: Foreign currency contracts	732		—		732		—

Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands):



Notional Amount		Start Date	End Date	Pay Fixed Rate		Receive Current Floating Rate		Fair Value			Balance Sheet Location
$	200,000	Jun 2017	Jun 2020	1.1325	%	1.7920	%	$	543		Accrued expenses and other current liabilities
65,000		Jul 2019	Jul 2020	1.8900		1.7920		(72		)	Accrued expenses and other current liabilities
400,000		Apr 2019	Apr 2020	2.4150		1.7101		(730		)	Accrued expenses and other current liabilities
200,000		Jun 2020	Jun 2023	2.1785		⁽¹⁾		(2,809		)	Other long-term liabilities

^__________

⁽¹⁾ The interest rate swap is not in effect until June 2020.

Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands):

Notional Amount

Start

Date

End

Date

$/Foreign Currency

Fair Value

Balance Sheet Location

$

11,166

Jan 2020

Jun 2020

0.0490

Peso

$

710

Prepaid expenses and other current assets

Information regarding outstanding foreign currency contracts designated as cash flow hedges as of December 28, 2018 is as follows (dollars in thousands):



Aggregate Notional Amount		Start Date	End Date	$/Foreign Currency		Fair Value			Balance Sheet Location
$	12,621	Jan 2019	Jun 2019	1.1686	Euro	$	(149	)	Accrued expenses and other current liabilities
10,991		Jan 2019	Jun 2019	0.0523	Peso	(494		)	Accrued expenses and other current liabilities
10,535		Jan 2019	Jun 2019	1.1705	Euro	(141		)	Accrued expenses and other current liabilities
11,019		Jan 2019	Jun 2019	0.0483	Peso	(316		)	Accrued expenses and other current liabilities
10,499		Jul 2019	Dec 2019	0.0500	Peso	368			Accrued expenses and other current liabilities

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents the impact of cash flow hedge derivative instruments on other comprehensive income (“OCI”), AOCI and the Company’s Consolidated Statement of Operations for fiscal years 2019, 2018 and 2017 (in thousands):



	Gain (Loss) Recognized in OCI								Gain (Loss) Reclassified from AOCI
Derivative	2019			2018			2017		Location in Statement of Operations	2019			2018			2017
Interest rate swaps	$	(5,618	)	$	1,589		$	1,263	Interest expense	$	1,621		$	1,697		$	466
Foreign exchange contracts	(1,044		)	(1,193		)	1,472		Sales	(1,334		)	(758		)	1,327
Foreign exchange contracts	2,634			1,508			972		Cost of sales	1,482			944			(84		)

Equity Method Investments

Equity investments are comprised of the following (in thousands):



	December 31, 2019		December 28, 2018
Equity method investment	$	16,167	$	15,148
Non-marketable equity securities	6,092		7,667
Total equity investments	$	22,259	$	22,815

The components of (Gain) Loss on Equity Investments, Net for each period were as follows (in thousands):



	2019			2018			2017
Equity method investment income	$	(1,100	)	$	(5,623	)	$	(3,685	)
Impairment charges	1,575			—			5,250
Total (gain) loss on equity investments, net	$	475		$	(5,623	)	$	1,565

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of segment sales by product line

The following table presents sales by product line for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Segment sales by product line:
Medical
Cardio & Vascular	$	610,056	$	585,464	$	530,831
Cardiac & Neuromodulation	457,194		443,347		428,275
Advanced Surgical, Orthopedics & Portable Medical	132,429		133,225		120,006
Total Medical	1,199,679		1,162,036		1,079,112
Non-Medical	58,415		52,976		56,968
Total sales	$	1,258,094	$	1,215,012	$	1,136,080

Schedule of Revenue by Major Customers by Reporting Segments

The following table presents revenues by significant customers, which are defined as any customer who individually represents 10% or more of a segment’s total revenues for fiscal years 2019 and 2018.



	2019				2018
Customer	Medical		Non-Medical		Medical		Non-Medical
Customer A	22	%	*		22	%	*
Customer B	18	%	*		19	%	*
Customer C	12	%	*		12	%	*
Customer D	*		22	%	*		28	%
All other customers	48	%	78	%	47	%	72	%

^__________

* Less than 10% of segment’s total revenues for the period.

Schedule of sales by geographic area

The following table presents revenues by significant ship to location, which is defined as any country where 10% or more of a segment’s total revenues are shipped for fiscal years 2019 and 2018.



	2019		2018
Ship to Location	Medical	Non-Medical	Medical	Non-Medical
United States	55%	58%	56%	66%
Puerto Rico	13%	*	13%	*
Canada	*	13%	*	11%
Rest of world	32%	29%	31%	23%

^__________

* Less than 10% of segment’s total revenues for the period.

The following table presents sales by significant country for fiscal years 2019, 2018 and 2017. In these tables, sales are allocated based on where the products are shipped (in thousands).



	2019		2018		2017
Sales by geographic area:
United States	$	698,474	$	687,259	$	662,133
Non-Domestic locations:
Puerto Rico	154,644		146,500		140,184
Costa Rica	63,634		62,044		55,364
Rest of world	341,342		319,209		278,399
Total sales	$	1,258,094	$	1,215,012	$	1,136,080

Schedule of segment income (loss) from operations

The following table presents income from continuing operations for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019			2018			2017
Segment income from continuing operations:
Medical	$	223,873		$	224,893		$	197,212
Non-Medical	16,289			14,697			11,335
Total segment income from continuing operations	240,162			239,590			208,547
Unallocated operating expenses	(82,527		)	(84,035		)	(82,898		)
Operating income	157,635			155,555			125,649
Unallocated expenses, net	(52,442		)	(94,439		)	(76,390		)
Income from continuing operations before taxes	$	105,193		$	61,116		$	49,259

Schedule of segment depreciation and amortization

The following table presents depreciation and amortization expense for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Segment depreciation and amortization:
Medical	$	68,867	$	71,922	$	72,314
Non-Medical	1,039		1,364		2,675
Total depreciation and amortization included in segment income from continuing operations	69,906		73,286		74,989
Unallocated depreciation and amortization	7,989		8,252		6,194
Total depreciation and amortization	$	77,895	$	81,538	$	81,183

Schedule of long-lived tangible assets and identifable assets by geographic area

The following table presents total assets for the Company’s reportable segments as of December 31, 2019 and December 28, 2018 (in thousands).



	December 31, 2019		December 28, 2018
Identifiable assets:
Medical	$	2,233,534	$	2,186,565
Non-Medical	51,031		53,812
Total reportable segments	2,284,565		2,240,377
Unallocated assets	68,528		86,304
Total assets	$	2,353,093	$	2,326,681

The following table presents PP&E by geographic area as of December 31, 2019 and December 28, 2018. In these tables, PP&E is aggregated based on the physical location of the tangible long-lived assets (in thousands).



	December 31, 2019		December 28, 2018
Long-lived tangible assets by geographic area:
United States	$	163,350	$	151,851
Mexico	36,238		34,606
Ireland	33,126		32,190
Rest of world	13,471		12,622
Total	$	246,185	$	231,269

Schedule of expenditures for tangible long-lived assets, excluding acquisitions

The following table presents capital expenditures for the Company’s reportable segments for fiscal years 2019, 2018 and 2017 (in thousands).



	2019		2018		2017
Expenditures for tangible long-lived assets:
Medical	$	44,026	$	34,615	$	20,896
Non-Medical	397		573		661
Total reportable segments	44,423		35,188		21,557
Unallocated long-lived tangible assets	3,775		6,110		8,783
Total expenditures	$	48,198	$	41,298	$	30,340

Revenue From Contracts With Customers (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Schedules of Concentration of Risk by Reveune and Accounts Receivable

A significant portion of the Company’s sales for fiscal years 2019, 2018 and 2017 and accounts receivable at December 31, 2019 and December 28, 2018 were to three customers as follows:



	Sales			Accounts Receivable
	2019	2018	2017	December 31, 2019	December 28, 2018
Customer A	21%	21%	22%	13%	11%
Customer B	17%	19%	20%	19%	18%
Customer C	12%	12%	11%	20%	20%
	50%	52%	53%	52%	49%

Schedule of Contract Assets and Contract Liabilities

The opening and closing balances of the Company's contract assets and contract liabilities are as follows (in thousands):



	December 31, 2019		December 28, 2018
Contract assets	$	24,767	$	—
Contract liabilities	1,975		2,264

Quarterly Sales and Earnings Data - Unaudited (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



(in thousands, except per share data)	Fourth Quarter			Third Quarter			Second Quarter		First Quarter
Fiscal Year 2019
Sales	$	325,637		$	303,587		$	314,194	$	314,676
Gross profit	76,030		⁽¹⁾	93,386			96,984		88,610
Income from continuing operations	11,044		⁽¹⁾	30,586			28,222		21,366
EPS—basic	0.34			0.94			0.87		0.66
EPS—diluted	0.33			0.92			0.85		0.65

Fiscal Year 2018
Sales	$	303,034		$	305,088		$	314,464	$	292,426
Gross profit	88,445			91,923			98,765		83,532
Income (loss) from continuing operations	19,196			(8,303		)	23,056		13,084
EPS—basic	0.59			(0.26		)	0.72		0.41
EPS—diluted	0.58			(0.26		)	0.70		0.40

^__________

⁽¹⁾

In the fourth quarter of 2019, the Company recorded pre-tax charges and other expenses of $24 million related to the bankruptcy filing of a customer. These charges were included included in cost of sales ($21 million) and operating expenses ($3 million).

Summary of Significant Accounting Policies (Basis of Presentation) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) customer Segment	Dec. 28, 2018 USD ($)	Dec. 29, 2017 USD ($)	Dec. 29, 2018 USD ($)
Schedule of Assets Useful Life [Line Items]
Number of reportable segments \| Segment		2
Number of customers \| customer		3
Increase in allowance for doubtful accounts receivable	$ 2,300
Increase in inventory valuation reserves	19,000
Net foreign currency transaction losses		$ (100)	$ (1,600)	$ (10,900)
Operating lease assets	42,379	42,379
Operating lease liability	$ 44,621	$ 44,621
Stock Options [Member]
Schedule of Assets Useful Life [Line Items]
Contractual life		10 years
Award vesting period		3 years
Restricted Stock And Unit Awards [Member] \| Director [Member]
Schedule of Assets Useful Life [Line Items]
Award vesting period		1 year
Minimum [Member] \| Restricted Stock And Unit Awards [Member]
Schedule of Assets Useful Life [Line Items]
Award vesting period		3 years
Minimum [Member] \| Performance Based Restricted Stock And Restricted Stock Units [Member]
Schedule of Assets Useful Life [Line Items]
Award vesting period		2 years
Minimum [Member] \| Patents [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		5 years
Minimum [Member] \| Customer Lists [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		7 years
Minimum [Member] \| Other Intangible Assets [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		1 year
Maximum [Member] \| Restricted Stock And Unit Awards [Member]
Schedule of Assets Useful Life [Line Items]
Award vesting period		4 years
Maximum [Member] \| Performance Based Restricted Stock And Restricted Stock Units [Member]
Schedule of Assets Useful Life [Line Items]
Award vesting period		3 years
Maximum [Member] \| Patents [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		15 years
Maximum [Member] \| Customer Lists [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		20 years
Maximum [Member] \| Other Intangible Assets [Member]
Schedule of Assets Useful Life [Line Items]
Intangible asset, useful life		10 years
Building and Building Improvements [Member] \| Minimum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		12 years
Building and Building Improvements [Member] \| Maximum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		30 years
Machinery and Equipment [Member] \| Minimum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		3 years
Machinery and Equipment [Member] \| Maximum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		10 years
Office Equipment [Member] \| Minimum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		3 years
Office Equipment [Member] \| Maximum [Member]
Schedule of Assets Useful Life [Line Items]
Property, plant and equipment, useful life		10 years
ASU 2016-02
Schedule of Assets Useful Life [Line Items]
Operating lease assets					$ 40,900
Operating lease liability					$ 43,400

Acquisition, Divesture And Discontinued Operations (Acquisition of Assets from US BioDesign LLC Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Oct. 07, 2019	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill		$ 839,617				$ 832,338				$ 839,617	$ 832,338	$ 839,870
Sales		$ 325,637	$ 303,587	$ 314,194	$ 314,676	$ 303,034	$ 305,088	$ 314,464	$ 292,426	1,258,094	$ 1,215,012	$ 1,136,080
US BioDesign LLC [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration transferred	$ 19,200
Cash payments to acquire business	15,000
Fair value of contingent consideration	4,200
Maximum amount of possible contingent payouts	5,500
Goodwill	10,500
Property, plant, and equipment acquired	700
Other non-current assets acquired	600
Acquisition related costs										400
US BioDesign LLC [Member] \| Technology [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquired finite lived intangible assets	$ 7,400
Intangible asset, useful life	8 years
US BioDesign LLC [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales										$ 800

Acquisition, Divesture And Discontinued Operations (AS&O Business Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 02, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of discontinued operations	$ 581,000	$ 4,734	$ 581,429	$ 0
Income from transition services		2,900	3,600
Transition services, cost of sales		100	200
Transition services, selling, general and administrative		2,800	3,400
Long term supply agreement, term	3 years
Pre-tax income from discontinued operations			$ 195,000
Discontinued operation, gain (loss) on disposal of discontinued operation, Net of Tax		$ 4,800
AS&O Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 150,400
Purchase price before adjustments	$ 600,000

Acquisition, Divesture And Discontinued Operations (Loss from Discontinued Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations before taxes	$ 5,296	$ 188,313	$ (27,432)
Provision (benefit) for income taxes	178	67,382	(7,024)
Income (loss) from discontinued operations	5,118	120,931	(20,408)
AS&O Business [Member] \| Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales	0	178,020	325,841
Cost of sales	0	148,357	286,300
Gross profit	0	29,663	39,541
SG&A expenses	0	8,905	18,500
Research, development and engineering costs	0	2,352	6,397
Other operating expenses	0	1,805	854
Interest expense	0	22,833	42,488
Gain on sale of discontinued operations	(4,974)	(194,965)	0
Other (income) loss, net	(322)	420	(1,266)
Income (loss) from discontinued operations before taxes	5,296	188,313	(27,432)
Provision (benefit) for income taxes	178	67,382	(7,024)
Income (loss) from discontinued operations	$ 5,118	$ 120,931	$ (20,408)

Acquisition, Divesture And Discontinued Operations (Cash Flow Information from Discontinued Operations) (Details) - AS&O Business [Member] - Discontinued Operations, Held-for-sale [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash used in operating activities	$ (78)	$ (12,498)	$ 3,167
Cash provided by (used in) investing activities	4,734	577,833	(16,771)
Depreciation and amortization	0	7,450	21,613
Capital expenditures	$ 0	$ 3,610	$ 16,844

Acquisition, Divesture And Discontinued Operations (Acquisition of Assets from InoMec Ltd Narrative) (Details) - Subsequent Event [Member] $ in Millions	Feb. 19, 2020 USD ($)
Business Combination, Separately Recognized Transactions [Line Items]
Cash payments to acquire business	$ 5.0
Maximum amount of possible contingent payouts	$ 3.5
Contingent consideration earn out period	4 years

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Supplemental Cash Flow Elements [Abstract]
Property, plant and equipment purchases included in accounts payable	$ 8,646	$ 2,303	$ 3,474
Interest	44,784	79,661	93,839
Income taxes	$ 30,034	$ 23,155	$ (8,185)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 79,742	$ 80,213
Work-in-process	60,042	75,711
Finished goods	27,472	34,152
Inventories	$ 167,256	$ 190,076

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 581,381	$ 531,677
Accumulated depreciation	(335,196)	(300,408)
Total	246,185	231,269
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	285,793	261,912
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	96,539	95,886
Information Technology Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	64,328	60,901
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	69,012	61,418
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15,517	15,082
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	11,541	11,544
Construction Work in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	37,470	23,886
Other [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,181	$ 1,048

Property, Plant and Equipment, Net (Depreciation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Property, Plant and Equipment [Abstract]
Depreciation	$ 37,819	$ 40,078	$ 38,077

Goodwill and Other Intangible Assets, Nets (Schedule of Goodwill) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018
Goodwill [Roll Forward]
Beginning balance	$ 832,338,000	$ 839,870,000
Goodwill related to acquisition (Note 2)	10,527,000
Foreign currency translation	(3,248,000)	(7,532,000)
Ending balance	839,617,000	832,338,000
Medical Segment [Member]
Goodwill [Roll Forward]
Beginning balance	815,338,000	822,870,000
Goodwill related to acquisition (Note 2)	10,527,000
Foreign currency translation	(3,248,000)	(7,532,000)
Ending balance	822,617,000	815,338,000
Accumulated impairment loss	0
Non-Medical Segment [Member]
Goodwill [Roll Forward]
Beginning balance	17,000,000	17,000,000
Goodwill related to acquisition (Note 2)	0
Foreign currency translation	0	0
Ending balance	17,000,000	$ 17,000,000
Accumulated impairment loss	$ 0

Goodwill and Other Intangible Assets, Net (Amortizing Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 958,619	$ 955,635
Accumulated Amortization	(273,123)	(233,585)
Net Carrying Amount	685,496	722,050
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	90,288	90,288
Purchased Technology And Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	248,264	241,726
Accumulated Amortization	(138,435)	(125,540)
Net Carrying Amount	109,829	116,186
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	706,852	710,406
Accumulated Amortization	(131,185)	(104,556)
Net Carrying Amount	575,667	605,850
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,503	3,503
Accumulated Amortization	(3,503)	(3,489)
Net Carrying Amount	$ 0	14
Lake Region Medical [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)		$ 70,000

Goodwill and Other Intangible Assets, Net (Amortization Expense by categories) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 40,076	$ 41,460	$ 43,106
Cost of Sales [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	13,111	14,134	15,183
Selling, General and Administrative Expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	26,965	26,658	24,840
Research and Development Expense [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	0	154	545
Other Operating Expense [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 0	$ 514	$ 2,538

Goodwill and Other Intangible Assets, Net (Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 40,438
2021	39,898
2022	39,161
2023	37,755
2024	36,798
After 2024	$ 491,446

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Profit sharing and bonuses	$ 26,060	$ 22,912
Salaries and benefits	20,997	21,830
Deferred revenue	1,975	2,482
Product warranties	1,933	2,600	$ 2,820
Accrued interest	1,885	1,944
Other	13,223	8,722
Total	$ 66,073	$ 60,490

Debt (Schedule of Long-Term Debt) (Details) - USD ($)	Dec. 31, 2019	Dec. 28, 2018
Debt Instrument [Line Items]
Unamortized discount on term loan B and debt issuance costs	$ (10,702,000)	$ (16,466,000)
Total debt	814,772,000	925,507,000
Current portion of long-term debt	(37,500,000)	(37,500,000)
Long-term debt	777,272,000	888,007,000
Loans Payable [Member] \| Secured Debt [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Long-term debt, gross	267,188,000	304,687,000
Loans Payable [Member] \| Secured Debt [Member] \| Term Loan B (TLB) Facility [Member]
Debt Instrument [Line Items]
Long-term debt, gross	558,286,000	632,286,000
Revolving Credit Facility [Member] \| Secured Debt [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 5,000,000

Debt (Senior Secured Credit Facilities) (Details) - Secured Debt [Member]	Oct. 27, 2015 USD ($)
Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Principle amount	267,000,000
Loans Payable [Member] \| Term Loan B (TLB) Facility [Member]
Debt Instrument [Line Items]
Principle amount	$ 558,000,000
Discount percent	1.00%

Debt (Revolving Credit Facility) (Details) - Secured Debt [Member] - USD ($)	Oct. 27, 2015	Dec. 31, 2019	Dec. 28, 2018
Senior Secured Credit Facilities [Member] \| Maximum [Member]
Debt Instrument [Line Items]
First lien net leverage ratio	4.25
Swingline Loans [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
Standby Letters of Credit [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	25,000,000
Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Amount outstanding		$ 0	$ 5,000,000
Remaining borrowing capacity		193,200,000
Outstanding standby letters of credit		6,800,000
Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Unused capacity commitment fee	0.175%
Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Unused capacity commitment fee	0.25%
Loans Payable [Member] \| Maximum [Member]
Debt Instrument [Line Items]
First lien net leverage ratio	4.25
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Amount outstanding		$ 267,188,000	$ 304,687,000
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| Prime Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Spread on variable rate	0.50%
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| Prime Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	2.00%
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.50%
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	3.00%

Debt (Term Loan Facilities) (Details) - loan_facility	Oct. 27, 2015	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted average interest rate		4.08%
Secured Debt [Member] \| Loans Payable [Member]
Debt Instrument [Line Items]
Number of additional term loan facilities that may be added (one or more)	1
Secured Debt [Member] \| Loans Payable [Member] \| Maximum [Member]
Debt Instrument [Line Items]
First lien net leverage ratio	4.25
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan B (TLB) Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate		4.22%
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan B (TLB) Facility [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Spread on variable rate	1.50%
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan B (TLB) Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread on variable rate	2.50%
Interest rate floor	1.00%
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate		3.80%
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| Prime Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	2.00%
Secured Debt [Member] \| Loans Payable [Member] \| Term Loan A (TLA) Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Spread on variable rate	3.00%

Debt (Covenants) (Details) - Secured Debt [Member]		3 Months Ended
Debt (Covenants) (Details) - Secured Debt [Member]	Oct. 27, 2015	Jul. 03, 2020	Apr. 04, 2020
Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Maximum leverage ratio	4.50
Adjusted EBITDA to interest expense ratio	3.00
Loans Payable [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Maximum leverage ratio	4.50
Adjusted EBITDA to interest expense ratio	3.00
Forecast [Member] \| Revolving Credit Facility [Member] \| New Revolving Credit Facility 2015 [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant Compliance, Maximum Leverage Ratio, Basis Point Decrease		0.25%	0.25%
Forecast [Member] \| Loans Payable [Member] \| Term Loan A (TLA) Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant Compliance, Maximum Leverage Ratio, Basis Point Decrease		0.25%	0.25%

Debt (9.125% Senior Notes due 2023) (Details) - USD ($)	Jul. 10, 2018	Dec. 31, 2019	Oct. 27, 2015
Debt Instrument [Line Items]
Weighted average interest rate		4.08%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
Payment for make-whole premium upon redemption	$ 31,300,000
Senior Notes [Member] \| Senior Notes Due November 2023 [Member]
Debt Instrument [Line Items]
Principle amount			$ 360,000,000
Stated interest rate			9.125%

Debt (Long-term Debt Maturity Schedule) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2020	$ 37,500
2021	37,500
2022	$ 750,474

Debt (Deferred Financing Fees) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Deferred Finance Costs [Roll Forward]
Total, Beginning Balance	$ 16,466
Total, Amortization during the period	(7,772)	$ (49,110)	$ (10,911)
Total, Ending Balance	10,702	16,466
Revolving Credit Facility [Member]
Deferred Finance Costs [Roll Forward]
Debt issuance costs, Beginning Balance	1,817	2,808
Debt issuance costs, Financing costs incurred	302
Debt issuance costs, Write off of debt issuance costs and unamortized discount	(150)
Debt issuance costs, Amortization during the period	(939)	(991)
Debt issuance costs, Ending Balance	1,030	1,817	2,808
Term Loan And Senior Notes [Member]
Deferred Finance Costs [Roll Forward]
Debt issuance costs, Beginning Balance	12,713	26,889
Debt issuance costs, Financing costs incurred	919
Debt issuance costs, Write off of debt issuance costs and unamortized discount	(1,913)	(9,757)
Debt issuance costs, Amortization during the period	(3,440)	(4,419)
Debt issuance costs, Ending Balance	8,279	12,713	26,889
Total, Beginning Balance	16,466	33,278
Total, Financing costs incurred	919
Total, Write-off during the period	(2,395)	(11,367)
Total, Amortization during the period	(4,288)	(5,445)
Total, Ending Balance	10,702	16,466	33,278
Term Loan B (TLB) Facility [Member]
Deferred Finance Costs [Roll Forward]
Unamortized discount on TLB Facility, Beginning Balance	3,753	6,389
Unamortized discount on TLB Facility, Financing costs incurred	0
Unamortized discount on TLB Facility, Write-off during the period	(482)	(1,610)
Unamortized discount on TLB Facility, Amortization during the period	(848)	(1,026)
Unamortized discount on TLB Facility, Ending Balance	$ 2,423	$ 3,753	$ 6,389

Benefit Plans (Savings Plan Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Defined Contribution And Benefit Plan Disclosure [Line Items]
Net costs recognized	$ 7.2	$ 6.8	$ 6.0
Maximum [Member]
Defined Contribution And Benefit Plan Disclosure [Line Items]
Employer matching contribution, percentage	50.00%
Employer matching contribution, percentage of employees' gross pay	6.00%

Benefit Plans (Defined Benefit Plans Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Defined Benefit Plan [Abstract]
Aggregated projected benefit obligation	$ 3.0	$ 2.2
Net periodic pension cost	0.3	$ 0.3	$ 0.3
Expected future benefit payments first five years	0.7
Expected future benefit payments next five years	$ 1.1

Stock-Based Compensation (Narratives) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated compensation cost			$ 2,200,000
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense tax benefit	$ 2,800,000	$ 3,800,000	1,900,000
Period for recognition	2 years 4 months 24 days
Total unrecognized compensation cost	$ 8,200,000
Fair value of shares vested	$ 2,400,000	$ 9,700,000	$ 6,400,000
Granted (in dollars per share)	$ 82.31	$ 52.14	$ 34.18
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price (in dollars per share)	$ 80.43
Unrecognized compensation cost related to non-vested stock options	$ 100,000
Period for recognition	10 months 24 days
Expected term (in years)		4 years	4 years 6 months
Performance Based Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	1 year 8 months 12 days
Total unrecognized compensation cost	$ 4,700,000
Fair value of shares vested	$ 6,700,000	$ 9,100,000	$ 0
Granted (in dollars per share)	$ 101.17	$ 45.37	$ 31.62
Expected term (in years)	2 years 9 months 18 days	2 years 10 months 24 days	1 year 9 months 18 days
2011 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,350,000
Number of shares available for grant (in shares)	79,316
2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,450,000
Number of shares available for grant (in shares)	662,736
Minimum [Member] \| Performance Based Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)	2 years
Maximum [Member] \| Performance Based Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)	3 years

Stock-Based Compensation (Components of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 9,294	$ 10,470	$ 14,680
Income Statement Location, Discontinued Operations [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	0	414	1,228
Cost of Sales [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,011	849	748
Selling, General and Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	7,827	9,090	9,893
Research and Development Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	269	112	642
Other Operating Expenses, net [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	187	5	2,169
Stock Options [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	410	873	1,633
Restricted Stock And Unit Awards [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	8,884	9,183	11,819
Continuing Operations
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 9,294	$ 10,056	$ 13,452

Stock-Based Compensation (Weighted-Average Fair Value and Assumptions) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted		$ 14.89	$ 12.86
Expected term (in years)		4 years	4 years 6 months
Risk-free interest rate		2.21%	1.77%
Expected volatility		39.00%	37.00%
Expected dividend yield		0.00%	0.00%
Performance Based Restricted Stock And Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted	$ 117.03	$ 37.46	$ 25.41
Expected term (in years)	2 years 9 months 18 days	2 years 10 months 24 days	1 year 9 months 18 days
Risk-free interest rate	2.46%	2.28%	1.14%
Expected volatility	40.00%	40.00%	48.00%
Expected dividend yield	0.00%	0.00%	0.00%

Stock-Based Compensation (Stock Option Activity) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Number of Stock Options
Beginning balance (in shares) \| shares	522,783
Exercised (in shares) \| shares	(138,770)
Ending balance (in shares) \| shares	384,013
Vested and expected to vest (in shares) \| shares	384,013
Exercisable (in shares) \| shares	349,698
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 31.88
Exercised (in dollars per share) \| $ / shares	23.36
Ending balance (in dollars per share) \| $ / shares	34.96
Vested and expected to vest (in dollars per share) \| $ / shares	34.96
Exercisable (in dollars per share) \| $ / shares	$ 34.55
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding, weighted average remaining contractual term	5 years 1 month 6 days
Vested and expected to vest, weighted average remaining contractual term	5 years 1 month 6 days
Exercisable, weighted average remaining contractual term	4 years 10 months 24 days
Outstanding, aggregate intrinsic value \| $	$ 17.5
Vested and expected to vest, aggregate intrinsic value \| $	17.5
Exercisable, aggregate intrinsic value \| $	$ 21.8

Stock-Based Compensation (Exercise of Stock Option) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Share-based Payment Arrangement [Abstract]
Intrinsic value	$ 7,998	$ 17,722	$ 13,928
Cash received	$ 3,242	$ 12,409	$ 19,324

Stock-Based Compensation (Restricted Stock and Restricted Stock Units) (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Restricted Stock And Restricted Stock Units Time Based [Member]
Time-Vested and Performance-Vested Restricted Stock Units and Awards
Beginning balance (in shares) \| shares	142,236
Granted (in shares) \| shares	116,387
Vested (in shares) \| shares	(31,386)
Forfeited (in shares) \| shares	(22,014)
Ending balance (in shares) \| shares	205,223
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 49.78
Granted (in dollars per share) \| $ / shares	82.31
Vested (in dollars per share) \| $ / shares	65.62
Forfeited (in dollars per share) \| $ / shares	59.64
Ending balance (in dollars per share) \| $ / shares	$ 64.75
Performance Based Restricted Stock And Restricted Stock Units [Member]
Time-Vested and Performance-Vested Restricted Stock Units and Awards
Beginning balance (in shares) \| shares	287,134
Granted (in shares) \| shares	50,492
Vested (in shares) \| shares	(75,008)
Forfeited (in shares) \| shares	(71,026)
Ending balance (in shares) \| shares	191,592
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 36.15
Granted (in dollars per share) \| $ / shares	101.17
Vested (in dollars per share) \| $ / shares	28.41
Forfeited (in dollars per share) \| $ / shares	36.17
Ending balance (in dollars per share) \| $ / shares	$ 56.30

Other Operating Expenses (Schedule of Other Operating Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Operating Costs and Expenses [Abstract]
Total other operating expenses	$ 12,151	$ 16,065	$ 36,438
Total other operating expenses	12,151	16,065	36,438
Strategic reorganization and alignment [Member]
Operating Costs and Expenses [Abstract]
Total other operating expenses	5,812	10,624	5,891
Manufacturing Alignment To Support Growth [Member]
Operating Costs and Expenses [Abstract]
Total other operating expenses	2,145	3,089	0
Consolidation and optimization initiatives [Member]
Operating Costs and Expenses [Abstract]
Total other operating expenses	0	844	12,803
Acquisition and integration costs [Member]
Operating Costs and Expenses [Abstract]
Total other operating expenses	377	0	10,870
Asset dispositions, severance and other [Member]
Operating Costs and Expenses [Abstract]
Total other operating expenses	$ 3,817	$ 1,508	$ 6,874

Other Operating Expenses (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 29, 2017	Dec. 31, 2019
Spinoff [Member]
Restructuring Cost and Reserve [Line Items]
Leadership transition costs	$ 5.3
Strategic reorganization and alignment [Member]
Restructuring Cost and Reserve [Line Items]
Capital investments expended		$ 22.3
Strategic reorganization and alignment [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Total expense expected		22.0
Strategic reorganization and alignment [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Total expense expected		23.0
Manufacturing Alignment To Support Growth [Member]
Restructuring Cost and Reserve [Line Items]
Capital investments expended		5.2
Manufacturing Alignment To Support Growth [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Total expense expected		6.0
Manufacturing Alignment To Support Growth [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Total expense expected		$ 7.0

Other Operating Expenses (Changes in Accrued Liabilities) (Details) - Consolidation and optimization initiatives [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning balance	$ 1,870
Restructuring charges	7,957
Cash payments	(7,842)
Restructuring Reserve, Ending balance	1,985
Severance And Retention [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning balance	1,668
Restructuring charges	2,095
Cash payments	(2,374)
Restructuring Reserve, Ending balance	1,389
Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning balance	202
Restructuring charges	5,862
Cash payments	(5,468)
Restructuring Reserve, Ending balance	$ 596

Income Taxes (Narratives) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narratives) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Tax Disclosure [Abstract]
Tax Cuts and Jobs Act of 2017, undistributed foreign earnings and profit subject to the deemed mandatory repatriation		$ 147.5
Provisional income tax expense		14.7	$ 14.7
Tax benefit from revaluation of net deferred tax liabilities	$ 56.5		56.5
Tax Cuts And Jobs Act Of 2017, Measurement Period Adjustment, Transition Tax		18.9
Tax Cuts And Jobs Act Of 2017, Measurement Period Adjustment, Transition Tax Adjustment		$ 4.2
Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Change In Tax Rate, Deferred Tax Liability, Measurement Period Adjustments, Provisional Income Tax (Expense) Benefit			60.7
Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Change In Tax Rate, Deferred Tax Liability, Provisional Income Tax (Expense) Benefit, Adjustment			$ 4.2
Reasonably possible reduction within next 12 months	0.6
Unrecognized tax benefit	$ 4.4

Income Taxes (Income Before Income Tax Domestic And Foreign) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Income Tax Disclosure [Line Items]
Income (loss) from continuing operations before income taxes	$ 105,193	$ 61,116	$ 49,259
UNITED STATES [Member]
Income Tax Disclosure [Line Items]
Income (loss) from continuing operations before income taxes	40,203	(4,273)	306
International [Member]
Income Tax Disclosure [Line Items]
Income (loss) from continuing operations before income taxes	$ 64,990	$ 65,389	$ 48,953

Income Taxes (Provision Benefit of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Current:
Federal	$ 14,090	$ 80	$ (1,558)
State	87	166	(29)
International	10,083	9,490	8,539
Total	24,260	9,736	6,952
Deferred:
Federal	(8,813)	6,610	(45,114)
State	332	103	(295)
International	(1,804)	(2,366)	629
Total	(10,285)	4,347	(44,780)
Effective tax rate	$ 13,975	$ 14,083	$ (37,828)

Income Taxes (Effect Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory rate	$ 22,091	$ 12,834	$ 17,240
Federal tax credits (including R&D)	(4,797)	(1,700)	(1,674)
Foreign rate differential	(5,479)	(6,040)	(12,934)
Stock-based compensation	(2,422)	(2,821)	(3,232)
Uncertain tax positions	(920)	147	34
State taxes, net of federal benefit	1,106	975	(543)
U.S. tax on foreign earnings, net of §250 deduction	5,201	10,473	1,471
Valuation allowance	(1,606)	(567)	1,030
Change in unremitted earnings assertion	0	11	(39,394)
Other	801	771	174
Effective tax rate	$ 13,975	$ 14,083	$ (37,828)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory rate	21.00%	21.00%	35.00%
Federal tax credits (including R&D)	(4.60%)	(2.80%)	(3.40%)
Foreign rate differential	(5.20%)	(9.90%)	(26.30%)
Stock-based compensation	(2.30%)	(4.60%)	(6.60%)
Uncertain tax positions	(0.90%)	0.20%	0.10%
State taxes, net of federal benefit	1.10%	1.60%	(1.10%)
U.S. tax on foreign earnings, net of §250 deduction	4.90%	17.10%	3.00%
Valuation allowance	(1.50%)	(0.90%)	2.10%
Change in unremitted earnings assertion	0	0	(0.800)
Other	0.80%	1.30%	0.40%
Effective tax rate	13.30%	23.00%	(76.80%)

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Components of Deferred Tax Assets and Liabilities [Abstract]
Tax credit carryforwards	$ 14,921	$ 24,593
Inventories	11,333	3,408
Net operating loss carryforwards	8,254	18,088
Operating lease liabilities	5,544
Stock-based compensation	4,844	2,340
Accrued expenses	4,625	39
Gross deferred tax assets	49,521	48,468
Less valuation allowance	(22,229)	(34,339)
Net deferred tax assets	27,292	14,129
Property, plant and equipment	(6,017)	(9,445)
Intangible assets	(192,091)	(198,648)
Operating lease assets	(5,161)
Other	(7,563)	(6,009)
Gross deferred tax liabilities	(210,832)	(214,102)
Net deferred tax liability	(183,540)	(199,973)
Noncurrent deferred tax asset	4,438	3,937
Noncurrent deferred tax liability	$ 187,978	$ 203,910

Income Taxes (Income Tax Carry Forward) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 28, 2018
State [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss	$ 111.2
State [Member] \| Investment Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit	5.1
International [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss	2.6
Federal [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss		$ 39.1
Federal [Member] \| Foreign Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit	9.0
US and State [Member] \| Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax Credit	$ 2.3

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 5,369	$ 12,088	$ 10,561
Additions based upon tax positions related to the current year	300	300	3,833
Reductions related to prior period tax returns	(1,223)	(75)	(14)
Reductions relating to settlements with tax authorities	0	(98)	0
Reductions relating to divestiture	0	(6,846)	0
Reductions as a result of a lapse of applicable statute of limitations	0	0	(510)
Revaluation due to change in tax rate (Tax Reform Act)	0	0	(1,782)
Balance, end of year	$ 4,446	$ 5,369	$ 12,088

Commitments and Contingencies (Narratives) (Details)		1 Months Ended	12 Months Ended			47 Months Ended
Commitments and Contingencies (Narratives) (Details)	Jan. 26, 2016 USD ($) patent	Jan. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 28, 2018 USD ($)	Dec. 29, 2017 USD ($)	Dec. 31, 2019 USD ($)
Gain Contingencies [Line Items]
Gain on litigation settlement						$ 0
Expenses related to license agreements			$ 903,084,000	$ 852,347,000	$ 782,070,000
Self Insurance Reserve			4,500,000	4,200,000		$ 4,500,000
Positive Outcome of Litigation [Member]
Gain Contingencies [Line Items]
Number of patents found infringed upon \| patent	3
Settlement amount	$ 37,500,000	$ 22,200,000
Royalty [Member]
Gain Contingencies [Line Items]
Expenses related to license agreements			$ 1,400,000	$ 1,600,000	$ 1,100,000

Commitments and Contingencies (Change in Product Warranty Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 2,600	$ 2,820
Additions to warranty reserve, net of reversals	2,605	620
Adjustments to pre-existing warranties	(1,039)	0
Warranty claims settled	(2,233)	(840)
Ending balance	$ 1,933	$ 2,600

Leases (Schedule of Lease Term, Discount Rate and Lease Costs (Topic 842)) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Lessor, Lease, Description [Line Items]
Weighted-average remaining lease term of operating leases (in years)	7 years 4 months 24 days
Weighted-average discount rate of operating leases	5.50%
Operating Lease, Expense	$ 9,870
Short-term Lease, Cost	57
Variable Lease, Cost	2,419
Sublease Income	1,894
Lease, Cost	10,452
Cost of Sales [Member]
Lessor, Lease, Description [Line Items]
Lease, Cost	8,772
Selling, General and Administrative Expenses [Member]
Lessor, Lease, Description [Line Items]
Lease, Cost	1,107
Research and Development Expense [Member]
Lessor, Lease, Description [Line Items]
Lease, Cost	556
Other Operating Income (Expense) [Member]
Lessor, Lease, Description [Line Items]
Lease, Cost	$ 17

Leases (Schedule of Lease Expense (Topic 840)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 28, 2018	Dec. 29, 2017
Leases [Abstract]
Operating lease expense	$ 10,753	$ 14,320

Leases (Schedule of Operating Lease Liability Maturities (Topic 842)) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 9,793
2021	9,284
2022	7,136
2023	6,279
2024	5,755
Thereafter	16,624
Total lease payments	54,871
Less imputed interest	(10,250)
Total	$ 44,621

Leases (Schedule of Future Minimum Rental Payments for Operating Leases (Topic 840)) (Details) $ in Thousands	Sep. 27, 2019 USD ($)
Leases [Abstract]
2019	$ 8,562
2020	7,290
2021	7,348
2022	5,269
2023	5,112
After 2023	$ 14,589

Leases (Schedule of Operating Lease Supplemental Cash Flow Information) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) facility
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 10,235
ROU assets obtained in exchange for new operating lease liabilities	$ 8,778
Number of facilities in which lease terms were extended \| facility	5

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Numerator:
Income from continuing operations									$ 91,218	$ 47,033	$ 87,087
Income (loss) from discontinued operations									5,118	120,931	(20,408)
Net income	$ 11,044	$ 30,586	$ 28,222	$ 21,366	$ 19,196	$ (8,303)	$ 23,056	$ 13,084	$ 96,336	$ 167,964	$ 66,679
Denominator for basic EPS:
Weighted average shares outstanding									32,627	32,136	31,402
Effect of dilutive securities stock options, restricted stock and restricted stock units									410	460	654
Denominator for diluted EPS									33,037	32,596	32,056
Income from continuing operations (in dollars per share)									$ 2.80	$ 1.46	$ 2.77
Income (loss) from discontinued operations (in dollars per share)									0.16	3.76	(0.65)
Basic earnings per share (in dollars per share)	$ 0.34	$ 0.94	$ 0.87	$ 0.66	$ 0.59	$ (0.26)	$ 0.72	$ 0.41	2.95	5.23	2.12
Income from continuing operations (in dollars per share)									2.76	1.44	2.72
Income (loss) from discontinued operations (in dollars per share)									0.15	3.71	(0.64)
Diluted earnings per share (in dollars per share)	$ 0.33	$ 0.92	$ 0.85	$ 0.65	$ 0.58	$ (0.26)	$ 0.70	$ 0.40	$ 2.92	$ 5.15	$ 2.08

Earnings Per Share (Antidilutive Securities) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Anitdilutive Securities Excluded From Earnings Per Share [Abstract]
Time-vested stock options, restricted stock and restricted stock units	30	237	676
Performance-vested restricted stock units	47	144	285

Stockholders' Equity (Schedule of Changes in Number of Shares of Common Stock) (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018
Class of Stock [Line Items]
Shares outstanding at beginning of year (in shares)	32,624,494
Shares outstanding at beginning of year (in shares)	32,473,167	31,871,427
Stock options exercised (in shares)	138,770	413,317
Shares outstanding at end of year (in shares)	32,847,017	32,624,494
Shares outstanding at beginning of year (in shares)	32,700,471	32,473,167
Common Stock [Member]
Class of Stock [Line Items]
Shares outstanding at beginning of year (in shares)	32,624,494	31,977,953
Stock options exercised (in shares)	116,904	413,317
Shares outstanding at end of year (in shares)	32,847,017	32,624,494
Treasury Stock, Common [Member]
Class of Stock [Line Items]
Shares outstanding at beginning of year (in shares)	(151,327)	(106,526)
Stock options exercised (in shares)	21,866	0
Shares outstanding at end of year (in shares)	(146,546)	(151,327)
Restricted Stock [Member]
Class of Stock [Line Items]
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	88,534	188,423
Restricted Stock [Member] \| Common Stock [Member]
Class of Stock [Line Items]
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	105,619	233,224
Restricted Stock [Member] \| Treasury Stock, Common [Member]
Class of Stock [Line Items]
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	(17,085)	(44,801)

Stockholders' Equity (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Defined Benefit Plan Liability
Defined Benefit Plan Liability, Beginning	$ (295)	$ (1,422)
Net defined benefit plan adjustments	(617)	232
Defined Benefit Plan Liability, Ending	(912)	(295)	$ (1,422)
Cash Flow Hedges
Cash Flow Hedges, Beginning	3,439	3,418
Unrealized loss on cash flow hedges	(4,028)	1,904
Realized gain on foreign currency hedges	(148)	(186)
Realized gain on interest rate swap hedges	(1,621)	(1,697)
Cash Flow Hedges, End	(2,358)	3,439	3,418
Foreign Currency Translation Adjustment
Foreign Currency Translation Adjustment, Beginning	30,539	50,200
Foreign currency translation loss	(7,900)	(19,925)
Foreign Currency Translation Adjustment, End	22,639	30,539	50,200
Total Pre-Tax Amount
Total Pre-Tax Amount, Beginning	33,683	52,196
Unrealized loss on cash flow hedges	(4,028)	1,904
Realized gain on foreign currency hedges	(148)	(186)
Realized gain on interest rate swap hedges	(1,621)	(1,697)
Net defined benefit plan adjustments	(617)	232
Foreign currency translation loss	(7,900)	(19,925)
Total Pre-Tax Amount, End	19,369	33,683	52,196
Tax
Tax, Beginning	(679)	(17)
Unrealized loss on cash flow hedges	846	(400)
Realized gain on foreign currency hedges	31	39
Realized gain on interest rate swap hedges	340	356
Net defined benefit plan adjustments	81	70
Foreign currency translation loss	0	0
Tax, End	619	(679)	(17)
Net-of-Tax Amount
Net-of-Tax Amount, Beginning	33,004	52,179
Unrealized loss on cash flow hedges	(3,182)	1,504
Realized gain on foreign currency hedges	(117)	(147)
Realized gain on interest rate swap hedges	(1,281)	(1,341)
Net defined benefit plan adjustments	(536)	302	76
Foreign currency translation gain (loss)	(7,900)	(19,925)	65,860
Net-of-Tax Amount, End	19,988	33,004	$ 52,179
Accumulated Other Comprehensive Income, Reclassification To Earnings, Foreign Currency Translation Adjustment	300
Accumulated Other Comprehensive Income, Defined Benefit Plan Liability, Reclassification To Earnings, Net Of Tax	600
Accumulated Other Comprehensive Income, Reclassification to Earnings, Tax	$ (300)
Reclassification of certain tax effects related to the adoption of ASU 2018-02		(466)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		1,159
Reclassification from AOCI, Current Period, Tax		(261)
Reclassified to earnings, net		898
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Net-of-Tax Amount
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		895
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Net-of-Tax Amount
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		$ 264

Financial Instruments and Fair Value Measurements (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Foreign currency contracts	$ 710
Liabilities: Interest rate swaps	3,068
Liabilities: Contingent consideration	4,200
Foreign currency contracts		$ 732
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Foreign currency contracts	0
Liabilities: Interest rate swaps	0
Liabilities: Contingent consideration	0
Foreign currency contracts		0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Foreign currency contracts	710
Liabilities: Interest rate swaps	3,068
Liabilities: Contingent consideration	0
Foreign currency contracts		732
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Foreign currency contracts	0
Liabilities: Interest rate swaps	0
Liabilities: Contingent consideration	$ 4,200
Foreign currency contracts		0
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Interest rate swaps		4,171
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Interest rate swaps		0
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Interest rate swaps		4,171
Interest Rate Swap [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Interest rate swaps		$ 0

Financial Instruments and Fair Value Measurements (Schedule of Interest Rate Swaps) (Details) - Designated as Hedging Instrument [Member] $ in Thousands	Dec. 31, 2019 USD ($)
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 200,000
Derivative, Fixed Interest Rate	2.1785%
Derivative Liability, Fair Value, Gross Liability	$ (2,809)
Interest Rate Swap Maturing June 2020 [Member] \| Accrued Expenses And Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 200,000
Derivative, Fixed Interest Rate	1.1325%
Derivative, Variable Interest Rate	1.792%
Derivative Liability, Fair Value, Gross Asset	$ 543
Interest Rate Swap Maturing July 2020 [Member] \| Accrued Expenses And Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 65,000
Derivative, Fixed Interest Rate	1.89%
Derivative, Variable Interest Rate	1.792%
Derivative Liability, Fair Value, Gross Liability	$ (72)
Interest Rate Swap Maturing April 2020 [Member] \| Accrued Expenses And Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 400,000
Derivative, Fixed Interest Rate	2.415%
Derivative, Variable Interest Rate	1.7101%
Derivative Liability, Fair Value, Gross Liability	$ (730)

Financial Instruments and Fair Value Measurements (Schedule of Foreign Currency Contracts) (Details) - Designated as Hedging Instrument [Member] $ in Thousands	Dec. 31, 2019 USD ($) $ / $	Dec. 28, 2018 USD ($) $ / $ $ / €
Prepaid Expenses and Other Current Assets [Member] \| Foreign Exchange Contract Maturing June 2020 [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	$ 11,166
Derivative, Forward Exchange Rate \| $ / $	0.0490
Derivative Asset, Fair Value, Gross Asset	$ 710
Accrued Expenses And Other Current Liabilities [Member] \| Foreign Exchange Contract Maturing June 2019 Contract One [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount		$ 12,621
Derivative, Forward Exchange Rate \| $ / €		1.1686
Derivative Liability, Fair Value, Gross Liability		$ (149)
Accrued Expenses And Other Current Liabilities [Member] \| Foreign Exchange Contract Maturing June 2019 Contract Two [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount		$ 10,991
Derivative, Forward Exchange Rate \| $ / $		0.0523
Derivative Liability, Fair Value, Gross Liability		$ (494)
Accrued Expenses And Other Current Liabilities [Member] \| Foreign Exchange Contract Maturing June 2019 Contract Three [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount		$ 10,535
Derivative, Forward Exchange Rate \| $ / €		1.1705
Derivative Liability, Fair Value, Gross Liability		$ (141)
Accrued Expenses And Other Current Liabilities [Member] \| Foreign Exchange Contract Maturing June 2019 Contract Four [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount		$ 11,019
Derivative, Forward Exchange Rate \| $ / $		0.0483
Derivative Liability, Fair Value, Gross Liability		$ (316)
Accrued Expenses And Other Current Liabilities [Member] \| Foreign Exchange Contract Maturing December 2019 [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Notional Amount		$ 10,499
Derivative, Forward Exchange Rate \| $ / $		0.0500
Derivative Liability, Fair Value, Gross Asset		$ 368

Financial Instruments and Fair Value Measurements (Schedule of Derivative Instruments with Hedge Accounting Designation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Interest Expense [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	$ 1,621	$ 1,697	$ 466
Interest Expense [Member] \| Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(5,618)	1,589	1,263
Revenue from Contract with Customer Benchmark [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(1,334)	(758)	1,327
Revenue from Contract with Customer Benchmark [Member] \| Foreign Exchange Forward [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(1,044)	(1,193)	1,472
Cost of Goods and Service Benchmark [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	1,482	944	(84)
Cost of Goods and Service Benchmark [Member] \| Foreign Exchange Forward [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ 2,634	$ 1,508	$ 972

Financial Instruments and Fair Value Measurements (Narratives) (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 01, 2021	Dec. 31, 2019	Dec. 28, 2018
Chinese Venture Capital Fund [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Percentage of ownership interest		6.70%
Designated as Hedging Instrument [Member] \| Other Assets [Member] \| Interest Rate Swap [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset, Notional Amount			$ 200.0
Derivative Asset, Fair Value, Gross Asset			$ 4.2
Forecast [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 0.2

Financial Instruments and Fair Value Measurements (Equity Method Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Fair Value Disclosures [Abstract]
Equity method investment	$ 16,167	$ 15,148
Non-marketable Equity Securities	6,092	7,667
Equity Method Investments	22,259	22,815
Net gains on equity method investments	(1,100)	(5,623)	$ (3,685)
Equity Method Investment, Other than Temporary Impairment	1,575	0	5,250
Debt and Equity Securities, Realized Gain (Loss)	$ 475	$ (5,623)	$ 1,565

Segment and Geographic Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2019 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment and Geographic Information (Sales by Product Lines) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales	$ 325,637	$ 303,587	$ 314,194	$ 314,676	$ 303,034	$ 305,088	$ 314,464	$ 292,426	$ 1,258,094	$ 1,215,012	$ 1,136,080
Medical Segment [Member] \| Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales									1,199,679	1,162,036	1,079,112
Medical Segment [Member] \| Cardio And Vascular [Member] \| Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales									610,056	585,464	530,831
Medical Segment [Member] \| Cardiac/Neuromodulation [Member] \| Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales									457,194	443,347	428,275
Medical Segment [Member] \| Advanced Surgical, Orthopaedics, and Portable Medical [Member] \| Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales									132,429	133,225	120,006
Non-Medical Segment [Member] \| Operating Segments [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Sales									$ 58,415	$ 52,976	$ 56,968

Segment and Geographic Information (Sales by Geographic Information) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 325,637	$ 303,587	$ 314,194	$ 314,676	$ 303,034	$ 305,088	$ 314,464	$ 292,426	$ 1,258,094	$ 1,215,012	$ 1,136,080
UNITED STATES [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales									698,474	687,259	662,133
PUERTO RICO [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales									154,644	146,500	140,184
COSTA RICA
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales									63,634	62,044	55,364
Rest Of World [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales									$ 341,342	$ 319,209	$ 278,399

Segment and Geographic Information (Significant Customers) (Details) - Customer Concentration Risk [Member] - Revenue from Contract with Customer Benchmark [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	50.00%	52.00%	53.00%
Customer A [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	21.00%	21.00%	22.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	17.00%	19.00%	20.00%
Customer C [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	12.00%	12.00%	11.00%
Medical Segment [Member] \| Customer A [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	22.00%	22.00%
Medical Segment [Member] \| Customer B [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	18.00%	19.00%
Medical Segment [Member] \| Customer C [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	12.00%	12.00%
Medical Segment [Member] \| All Other Customers [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	48.00%	47.00%
Non-Medical Segment [Member] \| Customer D [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	22.00%	28.00%
Non-Medical Segment [Member] \| All Other Customers [Member]
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	78.00%	72.00%

Segment and Geographic Information (Schedule of Revenue by Ship To Location) (Details) - Revenue from Contract with Customer Benchmark [Member] - Geographic Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018
UNITED STATES [Member] \| Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	55.00%	56.00%
UNITED STATES [Member] \| Non-Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	58.00%	66.00%
PUERTO RICO \| Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	13.00%	13.00%
CANADA \| Non-Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	13.00%	11.00%
All Other Countries [Member] \| Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	32.00%	31.00%
All Other Countries [Member] \| Non-Medical Segment [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	29.00%	23.00%

Segment and Geographic Information (Reconciliation of Segment Information) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Segment Reporting Information [Line Items]
Operating income as reported	$ 157,635	$ 155,555	$ 125,649
Unallocated other income (expense), net	(52,442)	(94,439)	(76,390)
Income from continuing operations before taxes	105,193	61,116	49,259
Total depreciation and amortization	77,895	81,538	81,183
Total assets	2,353,093	2,326,681
Expenditures for tangible long-lived assets, excluding acquisitions	48,198	41,298	30,340
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income as reported	240,162	239,590	208,547
Total depreciation and amortization	69,906	73,286	74,989
Total assets	2,284,565	2,240,377
Expenditures for tangible long-lived assets, excluding acquisitions	44,423	35,188	21,557
Operating Segments [Member] \| Medical Segment [Member]
Segment Reporting Information [Line Items]
Operating income as reported	223,873	224,893	197,212
Total depreciation and amortization	68,867	71,922	72,314
Total assets	2,233,534	2,186,565
Expenditures for tangible long-lived assets, excluding acquisitions	44,026	34,615	20,896
Operating Segments [Member] \| Non-Medical Segment [Member]
Segment Reporting Information [Line Items]
Operating income as reported	16,289	14,697	11,335
Total depreciation and amortization	1,039	1,364	2,675
Total assets	51,031	53,812
Expenditures for tangible long-lived assets, excluding acquisitions	397	573	661
Unallocated Amount to Segment [Member]
Segment Reporting Information [Line Items]
Operating income as reported	(82,527)	(84,035)	(82,898)
Total depreciation and amortization	7,989	8,252	6,194
Total assets	68,528	86,304
Expenditures for tangible long-lived assets, excluding acquisitions	$ 3,775	$ 6,110	$ 8,783

Segment and Geographic Information (Long lived Tangible Assets by Region) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 28, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived tangible assets	$ 246,185	$ 231,269
UNITED STATES [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived tangible assets	163,350	151,851
MEXICO
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived tangible assets	36,238	34,606
IRELAND
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived tangible assets	33,126	32,190
Rest Of World [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived tangible assets	$ 13,471	$ 12,622

Revenue From Contracts With Customers (Disaggregated Revenue) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Disaggregation of Revenue [Line Items]
Percent Of Revenue From Contract With Customer Compared To Total Revenue	12.00%
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	50.00%	52.00%	53.00%
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer A [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	21.00%	21.00%	22.00%
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer B [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	17.00%	19.00%	20.00%
Revenue from Contract with Customer Benchmark [Member] \| Customer Concentration Risk [Member] \| Customer C [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	12.00%	12.00%	11.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	52.00%	49.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer A [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	13.00%	11.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer B [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	19.00%	18.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer C [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage	20.00%	20.00%

Revenue From Contracts With Customers (Contract Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 24,767	$ 0
Contract liabilities	1,975	2,264
Contract with Customer, Liability, Revenue Recognized	$ 1,400	$ 600

Quarterly Sales and Earnings Data - Unaudited (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018	Sep. 28, 2018	Jun. 29, 2018	Mar. 30, 2018	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
Effect of Fourth Quarter Events [Line Items]
Sales	$ 325,637	$ 303,587	$ 314,194	$ 314,676	$ 303,034	$ 305,088	$ 314,464	$ 292,426	$ 1,258,094	$ 1,215,012	$ 1,136,080
Gross Profit	76,030	93,386	96,984	88,610	88,445	91,923	98,765	83,532	355,010	362,665	354,010
Net income	$ 11,044	$ 30,586	$ 28,222	$ 21,366	$ 19,196	$ (8,303)	$ 23,056	$ 13,084	$ 96,336	$ 167,964	$ 66,679
Basic (in dollars per share)	$ 0.34	$ 0.94	$ 0.87	$ 0.66	$ 0.59	$ (0.26)	$ 0.72	$ 0.41	$ 2.95	$ 5.23	$ 2.12
Diluted earnings per share (in dollars per share)	$ 0.33	$ 0.92	$ 0.85	$ 0.65	$ 0.58	$ (0.26)	$ 0.70	$ 0.40	$ 2.92	$ 5.15	$ 2.08
Costs Associated WIth Customer Filing Bankruptcy	$ 24,000
Cost of Sales [Member]
Effect of Fourth Quarter Events [Line Items]
Costs Associated WIth Customer Filing Bankruptcy	21,000
Operating Expense [Member]
Effect of Fourth Quarter Events [Line Items]
Costs Associated WIth Customer Filing Bankruptcy	$ 3,000

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 28, 2018	Dec. 29, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
SEC Schedule, 12-09, Valuation Allowances And Reserves, Additions, Charge To Cost And Expense, Customer Bankruptcy	$ 2,300
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	592	$ 536	$ 475
Charged to Costs & Expenses	1,884	169	194
Charged to Other Accounts	2	(2)	0
Deductions	(35)	(111)	(133)
Balance at End of Period	2,443	592	536
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	34,339	36,480	35,391
Charged to Costs & Expenses	736	0	3,284
Charged to Other Accounts	0	(170)	0
Deductions	(12,846)	(1,971)	(2,195)
Balance at End of Period	$ 22,229	$ 34,339	$ 36,480

Label	Element	Value
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (576,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	302,000
Common Stock Including Additional Paid in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (812,000)