0000769520-23-000004 | 10-K | XBRL Viewer

Schedule of Business Acquisition Pro Forma Information

The following pro forma results include adjustments to reflect amortization of intangibles associated with the acquisitions and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data):


	Twelve Months Ended
	December 31, 2022		January 1, 2022
Net sales	$	4,135,012	$	3,895,490
Net earnings	463,180		486,546

Net earnings per share:
Basic	$	8.56	$	8.81
Diluted	$	8.43	$	8.59

Novy

Kamado Joe and Masterbuilt


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	16,152	$	—	$	16,152

Current assets	23,762		234		23,996
Property, plant and equipment	17,058		4,383		21,441
Goodwill	142,741		(6,938)		135,803
Other intangibles	126,557		4,149		130,706

Other assets	26		173		199

Current liabilities	(23,440)		182		(23,258)

Long-term deferred tax liability	(33,918)		(2,072)		(35,990)
Other non-current liabilities	(1,930)		(111)		(2,041)






Net assets acquired and liabilities assumed	$	267,008	$	—	$	267,008


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	5,381	$	(70)	$	5,311

Current assets	137,826		(5,623)		132,203
Property, plant and equipment	7,773		(1,678)		6,095
Goodwill	110,052		44,490		154,542
Other intangibles	215,577		(28,677)		186,900

Other assets	2,143		(1,174)		969

Current liabilities	(54,865)		(8,111)		(62,976)

Long-term deferred tax liability	(15,907)		2,718		(13,189)
Other non-current liabilities	(1,914)		946		(968)






Net assets acquired and liabilities assumed	$	406,066	$	2,821	$	408,887

2021 Acquisitions

The final allocation of consideration paid for the other 2021 acquisitions is summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	6,414	$	(45)	$	6,369

Current assets	76,077		477		76,554
Property, plant and equipment	19,561		(252)		19,309
Goodwill	85,270		30,968		116,238
Other intangibles	158,725		(31,566)		127,159

Other assets	2,101		31		2,132

Current liabilities	(33,910)		53		(33,857)

Long-term deferred tax (liability) asset	(3,010)		3,457		447
Other non-current liabilities	(7,092)		(3,397)		(10,489)

Consideration paid at closing	$	304,136	$	(274)	$	303,862

Contingent consideration	9,404		(200)		9,204

Net assets acquired and liabilities assumed	$	313,540	$	(474)	$	313,066

2022 Acquisitions

The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2022 acquisitions and are summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Preliminary Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	25,860	$	144	$	26,004

Current assets	115,264		(2,403)		112,861
Property, plant and equipment	44,598		642		45,240
Goodwill	139,633		4,994		144,627
Other intangibles	93,147		2,112		95,259
Long-term deferred tax asset	426		104		530
Other assets	1,420		3,034		4,454
Current portion of long-term debt	(22,841)		2,154		(20,687)
Current liabilities	(57,158)		(241)		(57,399)
Long term debt	(5,646)		(2,320)		(7,966)
Long-term deferred tax liability	(23,137)		637		(22,500)
Other non-current liabilities	(19,061)		(6,157)		(25,218)

Consideration paid at closing	$	292,505	$	2,700	$	295,205


Contingent consideration	19,105		3,394		22,499

Net assets acquired and liabilities assumed	$	311,610	$	6,094	$	317,704

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Earnings before taxes is summarized as follows (in thousands):


	2022		2021		2020
Domestic	$	383,813	$	453,357	$	178,813
Foreign	180,602		166,147		89,244
Total	$	564,415	$	619,504	$	268,057

The provision for income taxes is summarized as follows (in thousands):


	2022		2021		2020
Federal	$	62,416	$	84,689	$	36,908
State and local	23,892		24,363		8,815
Foreign	41,538		21,960		15,040
Total	$	127,846	$	131,012	$	60,763

Current	$	134,488	$	124,149	$	44,342
Deferred	(6,642)		6,863		16,421
Total	$	127,846	$	131,012	$	60,763

Reconciliation of the differences between income taxes computed at the federal statutory rate to the effective rate are as follows:


	2022			2021		2020
U.S. federal statutory tax rate	21.0	%		21.0	%	21.0	%

State taxes, net of federal benefit	3.3			3.1		3.2
Permanent differences	0.9			0.5		(0.4)
Foreign income tax rate at rates other than U.S. statutory	0.2		-2.2	0.2		0.5
Deferred tax changes	—			(2.2)		(0.7)
Change in valuation allowances	—			0.4		(0.1)
Tax on unremitted earnings	0.3			0.4		1.2
Federal Refund	—			(0.7)		—
Internal restructuring	(2.3)			—		—
Other	(0.7)			(1.6)		(2.0)
Consolidated effective tax	22.7	%		21.1	%	22.7	%

(1) Net of changes in related tax attributes.

A tax provision of $127.8 million, at an effective rate of 22.7%, was recorded for fiscal 2022 as compared to $131.0 million at an effective rate of 21.1%, in fiscal 2021. The fiscal 2022 tax provision includes a deferred tax benefit of approximately $13 million associated with legal entity restructuring the company undertook to integrate and simplify the company’s business operations. The fiscal 2022 tax provision also reflects higher non-deductible stock compensation expense, where the prior year included favorable tax adjustments for deferred tax rate changes, tax refunds and adjustments for the finalization of 2020 tax returns. The effective rates in 2022 and 2021 are higher than the federal tax rate of 21.0% primarily due to state taxes and foreign tax rate differentials.

On August 16, 2022, the Inflation Reduction Act ("IRA") was enacted into law. The IRA enacted a 15% corporate minimum tax effective in 2023, a 1% tax on share repurchases after December 31, 2022, and created and extended certain tax-related energy incentives. We currently do not expect the tax-related provisions of the IRA to have a material impact on our financial results.

At December 31, 2022 and January 1, 2022, the company had recorded the following deferred tax assets and liabilities (in thousands):


	2022		2021
Deferred tax assets:
Compensation related	$	26,273	$	21,543
Pension and post-retirement benefits	1,640		49,072
Inventory reserves	26,134		14,453
Accrued liabilities and reserves	7,992		17,088
Warranty reserves	17,593		19,286
Operating lease liability	19,890		18,643
Basis difference on affiliates	14,473		—
Interest rate swaps	—		4,573
Convertible debt	39,388		37,034
Net operating loss carryforwards	12,964		17,083
Other	14,879		12,695
Gross deferred tax assets	181,226		211,470
Valuation allowance	(11,599)		(10,222)
Deferred tax assets	$	169,627	$	201,248

Deferred tax liabilities:
Intangible assets	$	(287,433)	$	(273,974)
Depreciable assets	(32,267)		(26,996)
Basis difference on affiliates	—		(18,795)
Operating lease right-of-use assets	(19,240)		(18,029)
Interest rate swaps	(16,836)		—
Other	(27,317)		(17,195)

Deferred tax liabilities	$	(383,093)	$	(354,989)

Net deferred tax assets (liabilities)	$	(213,466)	$	(153,741)

Long-term deferred asset	6,738		33,194
Long-term deferred liability	(220,204)		(186,935)
Net deferred tax assets (liabilities)	$	(213,466)	$	(153,741)

The company has recorded tax reserves on undistributed foreign earnings not permanently reinvested of $10.0 million and $9.7 million at December 31, 2022 and January 1, 2022, respectively. No further provisions were made for income taxes that may result from future remittances of undistributed earnings of foreign subsidiaries that are determined to be permanently reinvested, which were $637.0 million on December 31, 2022. Determination of the total amount of unrecognized deferred income taxes on undistributed earnings net of foreign subsidiaries is not practicable.

The company has a deferred tax asset on net operating loss carryforwards totaling $13.0 million as of December 31, 2022. These net operating losses are available to reduce future taxable earnings of certain domestic and foreign subsidiaries. United States federal loss carryforwards total $10.3 million of which $3.8 million will expire through 2036 and $6.5 million have no expiration date. State loss carryforwards total $22.6 million and expire through 2038 and international loss carryforwards total $44.4 million and expire through 2038; however, some have no expiration date. Of these carryforwards, $29.8 million are subject to full valuation allowance.

As of December 31, 2022, the total amount of liability for unrecognized tax benefits related to federal, state and foreign taxes was approximately $33.6 million (of which $33.6 million would impact the effective tax rate if recognized) plus approximately $8.0 million of accrued interest and $6.9 million of penalties. The company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. Interest recognized in fiscal years 2022, 2021 and 2020 was $0.6 million, $0.9 million and $0.8 million, respectively. Penalties recognized in fiscal years 2022, 2021 and 2020 was $0.2 million, $(1.0) million and $(0.2) million, respectively.

The following table summarizes the activity related to the unrecognized tax benefits for the fiscal years ended January 2, 2021, January 1, 2022 and December 31, 2022 (in thousands):


Balance at January 2, 2021	$	30,329

Increases to current year tax positions	1,760
Increase to prior year tax positions	6,796
Decrease to prior year tax positions	(576)
Settlements	(1,180)
Lapse of statute of limitations	(920)

Balance at January 1, 2022	$	36,209

Increases to current year tax positions	2,195
Increase to prior year tax positions	534
Decrease to prior year tax positions	(1,709)
Settlements	(1,974)
Lapse of statute of limitations	(1,607)

Balance as of December 31, 2022	$	33,648

It is reasonably possible that the amounts of unrecognized tax benefits associated with state, federal and foreign tax positions may decrease over the next twelve months due to expiration of a statute or completion of an audit. The company believes that it is reasonably possible that $3.2 million of its remaining unrecognized tax benefits may be recognized by the end of 2022 as a result of settlements with taxing authorities or lapses of statutes of limitations.

In the normal course of business, income tax authorities in various income tax jurisdictions both in the United States and internationally conduct routine audits of our income tax returns filed in prior years. These audits are generally designed to determine if individual income tax authorities are in agreement with our interpretations of complex tax regulations regarding the allocation of income to the various income tax jurisdictions. Income tax years are open from 2017 through the current year for the United States federal jurisdiction. Income tax years open for our other major jurisdictions range from 2016 through the current year. Although the company believes its tax returns are correct, the final determination of tax examinations may be different than what was reported on the tax returns. In the opinion of management, adequate tax provisions have been made for the years subject to examination.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Business Combination and Asset Acquisition [Abstract]

Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning Of Period	$ 18,770	$ 19,225	$ 14,886
Additions/ (Recoveries) Charged to Expense	4,311	809	6,868
Other Adjustments (1)	776	554	1,239
Write-Offs During the Period	(3,562)	(1,818)	(3,768)
Balance At End Of Period	20,295	18,770	19,225
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning Of Period	10,222	11,731	7,754
Additions/ (Recoveries) Charged to Expense	1,377	1,138	3,977
Write-Offs During the Period	0	(2,647)	0
Balance At End Of Period	$ 11,599	$ 10,222	$ 11,731

Acquisition and Purchase Accounting

12 Months Ended

Dec. 31, 2022

Acquisition and Purchase Accounting [Text Block]

ACQUISITIONS AND PURCHASE ACCOUNTING

The following represents the company's significant acquisitions in 2022 and 2021, the termination of a Merger Agreement, as well as summarized information on various acquisitions that were not individually material.

Termination of Welbilt Merger

On April 20, 2021, Middleby entered into a Merger Agreement with Welbilt, Inc. Following Welbilt's receipt of an alternative acquisition proposal, on July 13, 2021, Middleby announced that, under the terms of the Merger Agreement, it would not exercise its right to propose any modifications to the terms of the Merger Agreement and would allow the match period to expire. Accordingly, on July 14, 2021, Welbilt delivered to Middleby a written notice terminating the Merger Agreement and, concurrently with Middleby’s receipt of the termination fee of $110.0 million in cash from Welbilt, the Merger Agreement was terminated on July 14, 2021.

The termination fee received is reflected in the Consolidated Statements of Comprehensive Earnings as the "merger termination fee" and $19.7 million of deal costs associated with the transaction are reflected in selling, general and administrative expenses in the Consolidated Statements of Comprehensive Earnings.

Other 2021 Acquisitions

During 2021, the company completed various acquisitions that were not individually material. The final allocation of consideration paid for the other 2021 acquisitions is summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	6,414	$	(45)	$	6,369

Current assets	76,077		477		76,554
Property, plant and equipment	19,561		(252)		19,309
Goodwill	85,270		30,968		116,238
Other intangibles	158,725		(31,566)		127,159

Other assets	2,101		31		2,132

Current liabilities	(33,910)		53		(33,857)

Long-term deferred tax (liability) asset	(3,010)		3,457		447
Other non-current liabilities	(7,092)		(3,397)		(10,489)

Consideration paid at closing	$	304,136	$	(274)	$	303,862

Contingent consideration	9,404		(200)		9,204

Net assets acquired and liabilities assumed	$	313,540	$	(474)	$	313,066

The long-term deferred tax asset amounted to $0.4 million. The net deferred tax asset is comprised of $0.6 million of deferred tax asset related to tax loss carryforwards and $0.2 million of deferred tax liability related to the difference between the book and tax basis on identifiable tangible asset and liability accounts.

The goodwill and $84.6 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $35.4 million allocated to customer relationships, $3.4 million allocated to developed technology, and $3.8 million allocated to backlog, which are being amortized over periods of 7 years, 7 to 10 years, and 3 months, respectively. Goodwill of $51.2 million and other intangibles of $66.6 million are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Goodwill of $65.0 million and other intangibles of $60.6 million are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. Of these assets, goodwill of $114.2 million and intangibles of $126.0 million are expected to be deductible for tax purposes.

One purchase agreement includes earnout provisions providing for contingent payments due to the sellers to the extent certain financial targets are exceeded and upon the achievement of product rollout targets. One earnout is payable upon the achievement of product rollout targets. The second earnout is payable during 2026 if the company exceeds certain earnings targets. The contractual obligation associated with the contingent earnout provisions recognized on the acquisition date amounts to $9.2 million.

Novy Invest NV

On July 12, 2021, the company completed its acquisition of all of the capital stock of Novy Invest NV ("Novy"), a leading manufacturer of premium residential ventilation hoods and cook tops located in Belgium, for a purchase price of approximately $250.9 million, net of cash acquired. The final allocation of consideration paid for the Novy acquisition is summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	16,152	$	—	$	16,152

Current assets	23,762		234		23,996
Property, plant and equipment	17,058		4,383		21,441
Goodwill	142,741		(6,938)		135,803
Other intangibles	126,557		4,149		130,706

Other assets	26		173		199

Current liabilities	(23,440)		182		(23,258)

Long-term deferred tax liability	(33,918)		(2,072)		(35,990)
Other non-current liabilities	(1,930)		(111)		(2,041)






Net assets acquired and liabilities assumed	$	267,008	$	—	$	267,008

The long-term deferred tax liability amounted to $36.0 million. The deferred tax liability is comprised of $32.7 million related to the difference between the book and tax basis of identifiable intangible assets and $3.3 million related to the difference between the book and tax basis on identifiable tangible asset and liability accounts.

The goodwill and $106.6 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $24.1 million allocated to customer relationships, which is being amortized over a period of 10 years. Goodwill of $135.8 million and other intangibles of $130.7 million from this acquisition are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Goodwill and other intangibles are not expected to be deductible for tax purposes.

Kamado Joe and Masterbuilt

On December 27, 2021, the company completed its acquisition of Masterbuilt Holdings, LLC, including its residential outdoor brands ("Kamado Joe and Masterbuilt"), a leader in outdoor residential cooking located in the Atlanta, Georgia area, for a purchase price of approximately $403.6 million, net of cash acquired. The purchase price was comprised of $403.6 million in cash and 12,921 shares of Middleby common stock valued at $2.5 million. During the third quarter of 2022, the company finalized the purchase price adjustment provided for by the purchase agreement, resulting in a payment to sellers of $2.8 million.

The final allocation of consideration paid for the Kamado Joe and Masterbuilt acquisition is summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	5,381	$	(70)	$	5,311

Current assets	137,826		(5,623)		132,203
Property, plant and equipment	7,773		(1,678)		6,095
Goodwill	110,052		44,490		154,542
Other intangibles	215,577		(28,677)		186,900

Other assets	2,143		(1,174)		969

Current liabilities	(54,865)		(8,111)		(62,976)

Long-term deferred tax liability	(15,907)		2,718		(13,189)
Other non-current liabilities	(1,914)		946		(968)






Net assets acquired and liabilities assumed	$	406,066	$	2,821	$	408,887

The long-term deferred tax liability amounted to $13.2 million. The net deferred tax liability is comprised of $2.3 million of deferred tax asset related to tax loss carryforwards, $4.6 million of deferred tax asset related to the difference between the book and tax basis of identifiable intangible assets, and $20.1 million of deferred tax liability related to the difference between the book and tax basis on identifiable tangible asset and liability accounts.

The goodwill and $145.4 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $31.4 million allocated to customer relationships, $3.0 million allocated to developed technology, and $7.1 million allocated to backlog, which are being amortized over periods of 10 to 12 years, 11 years, and 3 to 6 months, respectively. Goodwill of $154.5 million and other intangibles of $186.9 million of the company are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Of these assets, goodwill of $54.5 million and intangibles of $186.9 million are expected to be deductible for tax purposes.

Other 2022 Acquisitions

As of December 31, 2022, the company completed various acquisitions that were not individually material. The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2022 acquisitions and are summarized as follows (in thousands):


	Preliminary Opening Balance Sheet		Preliminary Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	25,860	$	144	$	26,004

Current assets	115,264		(2,403)		112,861
Property, plant and equipment	44,598		642		45,240
Goodwill	139,633		4,994		144,627
Other intangibles	93,147		2,112		95,259
Long-term deferred tax asset	426		104		530
Other assets	1,420		3,034		4,454
Current portion of long-term debt	(22,841)		2,154		(20,687)
Current liabilities	(57,158)		(241)		(57,399)
Long term debt	(5,646)		(2,320)		(7,966)
Long-term deferred tax liability	(23,137)		637		(22,500)
Other non-current liabilities	(19,061)		(6,157)		(25,218)

Consideration paid at closing	$	292,505	$	2,700	$	295,205


Contingent consideration	19,105		3,394		22,499

Net assets acquired and liabilities assumed	$	311,610	$	6,094	$	317,704

The long-term deferred tax liability amounted to $22.5 million. The deferred tax liability is comprised of $19.5 million related to the difference between the book and tax basis of identifiable intangible assets and $3.0 million related to the difference between the book and tax basis on identifiable tangible asset and liability accounts.

The goodwill and $42.9 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $38.2 million allocated to customer relationships, $6.2 million allocated to developed technology, and $8.0 million allocated to backlog, which are being amortized over periods of 7 years, 5 to 10 years, and 3 to 6 months, respectively. Goodwill of $112.3 million and other intangibles of $59.1 million are allocated to the Food Processing Equipment Group for segment reporting purposes. Goodwill of $30.0 million and other intangibles of $35.4 million are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. Goodwill of $2.3 million and other intangibles of $0.8 million are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Of these assets, goodwill of $20.8 million and intangibles of $11.7 million are expected to be deductible for tax purposes.

Four purchase agreements include earnout provisions providing for a contingent payment due to the sellers for the achievement of certain targets. Three earnouts are payable to the extent certain EBITDA targets are met with measurement dates ending between 2022 and 2025. One earnout is payable yearly through 2026 based on product sales. The contractual obligation associated with the contingent earnout provisions recognized on the acquisition date amount to $22.5 million.

The company believes that information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the company is waiting for additional information necessary to finalize those fair values for all acquisitions completed during 2022. Certain intangible assets are preliminarily valued using historical information from the Commercial Foodservice Equipment Group, Food Processing Equipment Group and Residential Kitchen Equipment Group and qualitative assessments of the individual businesses at acquisition date. Specifically, the company estimated the fair values of the intangible assets based on the percentage of purchase price assigned to similar intangible assets in previous acquisitions. Thus, the provisional measurements of fair values set forth above are subject to change. The company expects to complete the purchase price allocation as soon as practicable but no later than one year from the acquisition date.

Pro Forma Financial Information

In accordance with ASC 805 Business Combinations, the following unaudited pro forma results of operations for the twelve months ended December 31, 2022 and January 1, 2022, assumes the 2021 and 2022 acquisitions described above were completed on January 3, 2021 (first day of fiscal year 2021). The following pro forma results include adjustments to reflect amortization of intangibles associated with the acquisitions and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data):


	Twelve Months Ended
	December 31, 2022		January 1, 2022
Net sales	$	4,135,012	$	3,895,490
Net earnings	463,180		486,546

Net earnings per share:
Basic	$	8.56	$	8.81
Diluted	$	8.43	$	8.59

The historical consolidated financial information of the company and the acquisitions have been adjusted in the pro forma information to give effect to pro forma events that are (1) directly attributable to the transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Pro forma data may not be indicative of the results that would have been obtained had these acquisitions occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. Additionally, the pro forma financial information does not reflect the costs which the company has incurred or may incur to integrate the acquired businesses.

Convertible Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Aug. 21, 2020
Debt Disclosure [Line Items]
Convertible Senior Notes	$ 737,918	$ 734,417
Convertible Debt
Debt Disclosure [Line Items]
Principal	747,499	747,500	$ 747,500
Unamortized Debt Issuance Expense	$ (9,581)	$ (13,083)

Employee Retirement Plans - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 plan
Retirement Benefits [Abstract]
Number of defined contribution 401K savings plans	2

Revenue Recognition

12 Months Ended

Dec. 31, 2022

Revenue Recognition [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE RECOGNITION

Revenue is recognized when the control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and represents the unit of account. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The company’s contracts can have multiple performance obligations or just a single performance obligation.

For contracts with multiple performance obligations, the contracts transaction price is allocated to each performance obligation using the company’s best estimate of the standalone selling price of each distinct good or service in the contract. As the company’s standard payment terms are less than one year, the company does not assess whether a contract has a significant financing component. The company treats shipping and handling activities performed after the customer obtains control of the good as a contract fulfillment activity. Sales, use and value added taxes assessed by governmental authorities are excluded from the measurement of the transaction price within the company’s contracts with its customers. The company generally expenses sales commissions when incurred because the amortization period would have been less than one year. These costs are recorded within selling, general and administrative expenses.

Within the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups, the estimated standalone selling price of equipment is based on observable prices. Within the Food Processing Equipment Group, the company estimates the standalone selling price based on expected cost to manufacture the good or complete the service plus an appropriate profit margin.

Control may pass to the customer over time or at a point in time. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under our long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. Installation services provided in connection with the delivery of the equipment are also generally recognized as those services are rendered. Over time transfer of control is measured using an appropriate input measure (e.g., costs incurred or direct labor hours incurred in relation to total estimate). These measures include forecasts based on the best information available and therefore reflect the company's judgment to faithfully depict the transfer of the goods.

Contract Estimates

Accounting for long-term contracts within the Food Processing Equipment group involves the use of various techniques to estimate total contract revenue and costs. For the company’s long-term contracts, estimated profit for the equipment performance obligations is recognized as the equipment is manufactured and assembled. Profit on the equipment performance obligations is estimated as the difference between the total estimated revenue and expected costs to complete a contract. Contract cost estimates are based on labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials and labor, and the performance of subcontractors. The company does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Contracts within the Commercial Foodservice and Residential Foodservice Equipment groups may contain variable consideration in the form of volume rebate programs. The company’s estimate of variable consideration is based on its experience with similarly situated customers using the portfolio approach.

Disaggregation of Revenue

We disaggregate our net sales by reportable operating segment and geographical location as we believe it best depicts how the nature, timing and uncertainty of our net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under our long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. The following table summarizes our net sales by reportable operating segment and geographical location (in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Twelve Months Ended December 31, 2022
United States and Canada	$	1,766,257	$	410,853	$	701,909	$	2,879,019
Asia	212,193		20,295		32,121		264,609
Europe and Middle East	364,143		100,216		303,840		768,199
Latin America	67,673		43,101		10,252		121,026
Total	$	2,410,266	$	574,465	$	1,048,122	$	4,032,853

Twelve Months Ended January 1, 2022
United States and Canada	$	1,435,120	$	347,280	$	454,375	$	2,236,775
Asia	204,432		17,641		11,154		233,227
Europe and Middle East	344,273		77,671		265,508		687,452
Latin America	48,936		38,154		6,248		93,338
Total	$	2,032,761	$	480,746	$	737,285	$	3,250,792

Twelve Months Ended January 2, 2021
United States and Canada	$	1,067,872	$	311,042	$	373,864	$	1,752,778
Asia	155,742		26,778		6,711		189,231
Europe and Middle East	246,845		78,690		182,919		508,454
Latin America	39,820		20,762		2,212		62,794
Total	$	1,510,279	$	437,272	$	565,706	$	2,513,257

Contract Balances

Contract assets primarily relate to the company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid expenses and other in the Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional.

Contract liabilities relate to advance consideration received from customers for which revenue has not been recognized. Current contract liabilities are recorded in accrued expenses in the Consolidated Balance Sheet. Non-current contract liabilities are recorded in other non-current liabilities in the Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized.

The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands):


	December 31, 2022		January 1, 2022
Contract assets	$	40,438	$	21,592
Contract liabilities	$	185,824	$	133,315
Non-current contract liabilities	$	12,495	$	11,602

During the twelve months period ended December 31, 2022, the company reclassified $16.1 million to accounts receivable which was included in the contract asset balance at the beginning of the period. During the twelve months period ended December 31, 2022, the company recognized revenue of $123.3 million which was included in the contract liability balance at the beginning of the period. Additions to contract liabilities representing amounts billed to clients in excess of revenue recognized to date were $174.4 million during the twelve months period ended December 31, 2022. In addition, contract liabilities increased due to acquisitions during fiscal 2022. Substantially all of the company's outstanding performance obligations will be satisfied within 12 to 36 months. There were no contract asset impairments during twelve months period ended December 31, 2022.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Schedule of Inventory, Current

Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Accounting Policies [Abstract]
Weighted average number diluted shares outstanding (shares)	852,000	1,449,000	43,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	73,000	56,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	779,000	1,393,000

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Inventories at December 31, 2022 and January 1, 2022 are as follows (in thousands):


	2022		2021
Raw materials and parts	$	595,325	$	421,361
Work in process	86,083		65,581
Finished goods	396,321		350,476
	$	1,077,729	$	837,418

Property, Plant and Equipment

Property, plant and equipment are carried at cost as follows (in thousands):


	2022		2021
Land	$	65,794	$	54,477
Building and improvements	306,004		270,812
Furniture and fixtures	59,438		56,706
Machinery and equipment	311,864		265,188
	743,100		647,183
Less accumulated depreciation	(299,572)		(266,203)
	$	443,528	$	380,980

Schedule Of Useful Lives For Property Plant Equipment

Following is a summary of the estimated useful lives:


Description						Life
Building and improvements						20 to 40 years
Furniture and fixtures						3 to 7 years
Machinery and equipment						3 to 10 years

Schedule of Goodwill

Goodwill is allocated to the business segments as follows (in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Balance as of January 2, 2021	$	1,228,436	$	255,798	$	450,027	$	1,934,261

Goodwill acquired during the year	63,849		—		266,170		330,019
Measurement period adjustments to goodwill acquired in prior year	2,411		—		—		2,411
Exchange effect	(9,609)		(5,083)		(8,530)		(23,222)

Balance as of January 1, 2022	$	1,285,087	$	250,715	$	707,667	$	2,243,469

Goodwill acquired during the year	30,107		112,254		2,266		144,627
Measurement period adjustments to goodwill acquired in prior year	923		—		75,344		76,267
Exchange effect	(19,623)		616		(33,522)		(52,529)

Balance as of December 31, 2022	$	1,296,494	$	363,585	$	751,755	$	2,411,834

Schedule Of Intangible Assets By Major Class

Intangible assets consist of the following (in thousands):


	December 31, 2022					January 1, 2022
	Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization		Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer relationships	7.6	$	839,811	$	(460,885)	7.6	$	863,339	$	(411,327)
Backlog	0.1	8,301		(6,352)		0.2	13,684		(929)
Developed technology	8.3	79,763		(35,797)		8.9	73,461		(29,952)
		$	927,875	$	(503,034)		$	950,484	$	(442,208)
Indefinite-lived intangible assets:
Trademarks and trade names		$	1,369,391				$	1,367,101

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of intangible assets is as follows (in thousands):


2023	$	74,787
2024	61,716
2025	55,578
2026	52,411
2027	43,893
2028 and thereafter	136,456
	$	424,841

Schedule of Accrued Liabilities

Accrued expenses consist of the following at December 31, 2022 and January 1, 2022, respectively (in thousands):


	2022		2021
Contract liabilities	$	185,824	$	133,315
Accrued payroll and related expenses	122,861		115,762
Accrued warranty	82,096		80,215
Accrued customer rebates	70,706		72,451
Accrued short-term leases	25,250		22,753
Accrued sales and other tax	24,044		22,684
Accrued contingent consideration	20,529		18,728
Accrued professional fees	19,541		19,292
Accrued agent commission	17,381		13,670

Accrued product liability and workers compensation	11,326		10,952
Other accrued expenses	91,769		73,033

	$	671,327	$	582,855

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the components of accumulated other comprehensive income (loss) as reported in the consolidated balance sheets (in thousands):


	2022		2021
Unrecognized pension benefit costs, net of tax of $(1,995) and $(39,470)	$	(121,701)	$	(249,696)
Unrealized loss on interest rate swap, net of tax of $16,836 and $(4,501)	48,574		(13,064)
Unrealized gain on certain investments, net of tax of $— and $433	—		1,330
Currency translation adjustments	(205,345)		(97,654)

	$	(278,472)	$	(359,084)

Changes in accumulated other comprehensive income (loss) (1) were as follows (in thousands):


	Currency Translation Adjustment		Pension Benefit Costs		Unrealized Gain/(Loss) Interest Rate Swap		Unrealized Gain/(Loss) Certain Investments		Total
Balance as of January 2, 2021	$	(49,961)	$	(400,919)	$	(37,548)	$	—	$	(488,428)
Other comprehensive income before reclassification	(47,693)		137,187		6,015		1,330		96,839
Amounts reclassified from accumulated other comprehensive income	—		14,036		18,469		—		32,505
Net current-period other comprehensive income	$	(47,693)	$	151,223	$	24,484	1,330		$	129,344
Balance as of January 1, 2022	$	(97,654)	$	(249,696)	$	(13,064)	$	1,330	$	(359,084)
Other comprehensive income before reclassification	(107,691)		117,840		58,135		(1,330)		66,954
Amounts reclassified from accumulated other comprehensive income	—		10,155		3,503		—		13,658
Net current-period other comprehensive income	$	(107,691)	$	127,995	$	61,638	$	(1,330)	$	80,612
Balance as of December 31, 2022	$	(205,345)	$	(121,701)	$	48,574	$	—	$	(278,472)

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

The company’s financial assets and liabilities that are measured at fair value are categorized using the fair value hierarchy at December 31, 2022 and January 1, 2022 are as follows (in thousands):


	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of December 31, 2022
Financial Assets:
Interest rate swaps	$	—	$	64,985	$	—	$	64,985


Financial Liabilities:

Contingent consideration	$	—	$	—	$	47,242	$	47,242
Foreign exchange derivative contracts	$	—	$	474	$	—	$	474

As of January 1, 2022
Financial Assets:
Interest rate swaps	$	—	$	3,645	$	—	$	3,645
Foreign exchange derivative contracts	$	—	$	1,095	$	—	$	1,095

Financial Liabilities:
Interest rate swaps	$	—	$	21,635	$	—	$	21,635
Contingent consideration	$	—	$	—	$	34,983	$	34,983

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table represents changes in the fair value of the contingent consideration liabilities for the fiscal years 2022 and 2021:


	December 31, 2022		January 1, 2022
Beginning balance	$	34,983	$	25,558
Payments of contingent consideration	(5,103)		(528)
New contingent consideration	22,299		8,567
Changes in fair value	(4,937)		1,386
Ending balance	$	47,242	$	34,983

Schedule of Product Warranty Liability

A rollforward of the warranty reserve for the fiscal years 2022 and 2021 are as follows (in thousands):


	2022		2021
Beginning balance	$	80,215	$	69,667
Warranty reserve related to acquisitions	3,607		5,046
Warranty expense	70,774		68,199
Warranty claims paid	(72,500)		(62,697)
Ending balance	$	82,096	$	80,215

Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying amount	$ 927,875	$ 950,484
Finite-Lived Intangible Assets, Accumulated Amortization	(503,034)	(442,208)
Finite-Lived Intangible Assets, Amortization Expense	$ 86,300	$ 75,800	$ 69,000
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Avg Remaining LIfe	7 years 7 months 6 days	7 years 7 months 6 days
Gross Carrying amount	$ 839,811	$ 863,339
Finite-Lived Intangible Assets, Accumulated Amortization	$ (460,885)	$ (411,327)
Service Backlog
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Avg Remaining LIfe	1 month 6 days	2 months 12 days
Gross Carrying amount	$ 8,301	$ 13,684
Finite-Lived Intangible Assets, Accumulated Amortization	$ (6,352)	$ (929)
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Avg Remaining LIfe	8 years 3 months 18 days	8 years 10 months 24 days
Gross Carrying amount	$ 79,763	$ 73,461
Finite-Lived Intangible Assets, Accumulated Amortization	(35,797)	(29,952)
Tradenames And Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,369,391	$ 1,367,101

Schedule II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2022

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

Schedule II - Valuation and Qualifying Accounts and Reserves

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

FOR THE FISCAL YEARS ENDED DECEMBER 31, 2022, JANUARY 1, 2022

AND January 2, 2021

(amounts in thousands)


	Balance Beginning Of Period		Additions/ (Recoveries) Charged to Expense		Other Adjustments (1)		Write-Offs During the Period		Balance At End Of Period
Allowance for doubtful accounts; deducted from accounts receivable on the balance sheets-

2022	$	18,770	$	4,311	$	776	$	(3,562)	$	20,295

2021	$	19,225	$	809	$	554	$	(1,818)	$	18,770

2020	$	14,886	$	6,868	$	1,239	$	(3,768)	$	19,225

(1) Amounts consist primarily of valuation allowances assumed from acquired companies.


	Balance Beginning Of Period		Additions/ (Recoveries) Charged to Expense		Write-Offs During the Period		Balance At End Of Period
Valuation allowance - Deferred tax assets

2022	$	10,222	$	1,377	$	—	$	11,599

2021	$	11,731	$	1,138	$	(2,647)	$	10,222

2020	$	7,754	$	3,977	$	—	$	11,731

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 436,569	$ 488,492	$ 207,294
Other comprehensive income:
Foreign currency translation adjustments	(107,691)	(47,693)	55,744
Pension liability adjustment, net of tax	127,995	151,223	(172,583)
Unrealized gain (loss) on interest rate swaps, net of tax	61,638	24,484	(20,656)
Unrealized (loss) gain on certain investments, net of tax	(1,330)	1,330	0
Other Comprehensive Income (Loss), Net of Tax	80,612	129,344	(137,495)
Comprehensive income	$ 517,181	$ 617,836	$ 69,799

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Amount after tax and reclassification adjustments of other comprehensive income (loss).

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=124507222&loc=d3e1436-108581

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Schedule of Segment Reporting Information, by Segment

Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Derivatives, Fair Value [Line Items]
Interest rate derivative liabilities, at fair value	$ 65,000	$ 18,000
Increase (decrease) in fair value of interest rate fair value hedging instruments	(61,600)
Accrued interest rate swaps	0	1,171
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	13,658	32,505
Interest Rate Swap \| Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	58,180	3,645
Interest Rate Swap \| Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Interest Rate Cash Flow Hedge Liability at Fair Value	0	20,464
Interest Rate Swap \| Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	6,805	0
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	562,500	350,500
Fair value of forward contracts	(500)
Other Comprehensive Income (Loss) \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Amount of gain/(loss) recognized in other comprehensive income	79,472	14,634
Interest Expense \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	$ (3,503)	$ (18,469)

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Income Tax Disclosure [Abstract]
Permanently Reinvested Foreign Earnings	$ 10,000	$ 9,700
Deferred Tax Liabilities, Undistributed Foreign Earnings	637,000
Operating Loss Carryforwards	12,964	17,083
Deferred Tax Assets, Operating Loss Carryforwards	10,300
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	3,800
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	6,500
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	22,600
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	44,400
Deferred Tax Assets, Valuation Allowance	29,800
Unrecognized tax benefits rleated to federal, state and foreign taxes	33,648	36,209	$ 30,329
Unrecognized tax benefits related to federal, state and foreign taxes that would impact the effective tax rate if recognized	33,600
Unrecognized tax benefits, accured interest	8,000
Unrecognized tax benefits, penalties	6,900
Unrecognized tax benefits, interest recognized	600	900	800
Unrecognized tax benefits, penalties recognized	200	$ (1,000)	$ (200)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 3,200

Revenue Recognition (Policies)	12 Months Ended
Revenue Recognition (Policies)	Dec. 31, 2022
Revenue Recognition [Abstract]
Revenue Recognition	Revenue is recognized when the control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and represents the unit of account. A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The company’s contracts can have multiple performance obligations or just a single performance obligation. For contracts with multiple performance obligations, the contracts transaction price is allocated to each performance obligation using the company’s best estimate of the standalone selling price of each distinct good or service in the contract. As the company’s standard payment terms are less than one year, the company does not assess whether a contract has a significant financing component. The company treats shipping and handling activities performed after the customer obtains control of the good as a contract fulfillment activity. Sales, use and value added taxes assessed by governmental authorities are excluded from the measurement of the transaction price within the company’s contracts with its customers. The company generally expenses sales commissions when incurred because the amortization period would have been less than one year. These costs are recorded within selling, general and administrative expenses. Within the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups, the estimated standalone selling price of equipment is based on observable prices. Within the Food Processing Equipment Group, the company estimates the standalone selling price based on expected cost to manufacture the good or complete the service plus an appropriate profit margin. Control may pass to the customer over time or at a point in time. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under our long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. Installation services provided in connection with the delivery of the equipment are also generally recognized as those services are rendered. Over time transfer of control is measured using an appropriate input measure (e.g., costs incurred or direct labor hours incurred in relation to total estimate). These measures include forecasts based on the best information available and therefore reflect the company's judgment to faithfully depict the transfer of the goods. Contract Estimates Accounting for long-term contracts within the Food Processing Equipment group involves the use of various techniques to estimate total contract revenue and costs. For the company’s long-term contracts, estimated profit for the equipment performance obligations is recognized as the equipment is manufactured and assembled. Profit on the equipment performance obligations is estimated as the difference between the total estimated revenue and expected costs to complete a contract. Contract cost estimates are based on labor productivity and availability, the complexity of the work to be performed, the cost and availability of materials and labor, and the performance of subcontractors. The company does not disclose information about remaining performance obligations that have original expected durations of one year or less. Contracts within the Commercial Foodservice and Residential Foodservice Equipment groups may contain variable consideration in the form of volume rebate programs. The company’s estimate of variable consideration is based on its experience with similarly situated customers using the portfolio approach.

Summary of Significant Accounting Policies - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Goodwill [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ 0
Goodwill [Roll Forward]
Balance beginning of period	2,243,469	$ 1,934,261
Goodwill, Acquired During Period	144,627	330,019
Measurement period adjustments to goodwill acquired in prior year	76,267	2,411
Exchange effect	52,529	23,222
Balance end of period	2,411,834	2,243,469
Commercial Foodservice Equipment Group
Goodwill [Roll Forward]
Balance beginning of period	1,285,087	1,228,436
Goodwill, Acquired During Period	30,107	63,849
Measurement period adjustments to goodwill acquired in prior year	923	2,411
Exchange effect	19,623	9,609
Balance end of period	1,296,494	1,285,087
Food Processing Group
Goodwill [Roll Forward]
Balance beginning of period	250,715	255,798
Goodwill, Acquired During Period	112,254	0
Measurement period adjustments to goodwill acquired in prior year	0	0
Exchange effect	(616)	5,083
Balance end of period	363,585	250,715
Residential Kitchen
Goodwill [Roll Forward]
Balance beginning of period	707,667	450,027
Goodwill, Acquired During Period	2,266	266,170
Measurement period adjustments to goodwill acquired in prior year	75,344	0
Exchange effect	33,522	8,530
Balance end of period	$ 751,755	$ 707,667

Common and Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021	May 13, 2022	Nov. 07, 2017
Common Stock, Shares Authorized	95,000,000	95,000,000
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Stock Repurchased During Period, Shares	1,553,961	141,500
Stock Repurchased During Period, Value	$ 249,000	$ 26,600
Treasury Stock Acquired, Average Cost Per Share	$ 160.27	$ 188.17
Treasury Stock, Value, Acquired, Cost Method	$ 264,777	$ 29,265	$ 85,872
Share-based Compensation	58,368	42,330	19,613
Tax benefit	1,300	400	2,700
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	29,100	$ 7,300	$ 44,800
Total unrecognized compensation	$ 300
Weighted average life	6 months
2017 Program
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				2,500,000	2,500,000
Share Repurchase Program, Number of Shares Repurchased	2,718,626
Remaining number of shares authorized to be repurchased (shares)	2,281,374
Restricted Stock
Treasury Stock, Shares, Acquired	90,243	15,480
Treasury Stock, Value, Acquired, Cost Method	$ 15,800	$ 2,700
Grant awards, fair value per share at date of grant (usd per share)	$ 188.31	$ 181.31	$ 57.74
Restricted Stock Units (RSUs)
Grant awards, fair value per share at date of grant (usd per share)	$ 150.07	$ 166.41	$ 134.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 9,100
Total unrecognized compensation	$ 70,800
Restricted Stock Units, Outstanding, Weighted Average Remaining Contractual Terms	1 year 7 months 24 days
Stock Incentive Plan 2021
Number of shares authorized (shares)	1,367,271
IncreaseInAuthSharesDuring2017 \| Stock Incentive Plan 2021
Number of shares authorized (shares)	1,350,000

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

The following table summarizes the results of operations for the company’s business segments(1) (dollars in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Corporate and Other(2)		Total
2022
Net sales	$	2,410,266	$	574,465	$	1,048,122	$	—	$	4,032,853
Income (loss) from operations (3)	549,764		106,231		127,948		(144,339)		639,604
Depreciation expense (4)	24,432		5,912		13,596		679		44,619
Amortization expense (5)	55,506		13,400		17,376		7,159		93,441
Net capital expenditures	28,735		13,940		20,604		4,010		67,289
Total assets	3,789,437		982,605		1,972,351		130,473		6,874,866
Long-lived assets (6)	319,337		83,490		151,499		108,478		662,804

2021
Net sales	$	2,032,761	$	480,746	$	737,285	$	—	$	3,250,792
Income (loss) from operations (3,7,8)	423,121		94,414		124,701		(12,244)		629,992
Depreciation expense (4)	23,814		5,601		12,655		611		42,681
Amortization expense (5)	56,910		7,247		11,628		6,777		82,562
Net capital expenditures	26,507		9,111		9,232		1,701		46,551
Total assets	3,522,630		637,252		2,153,758		69,958		6,383,598
Long-lived assets (6)	292,593		54,934		169,028		41,112		557,667

2020
Net sales	$	1,510,279	$	437,272	$	565,706	$	—	$	2,513,257
Income (loss) from operations (3,8)	239,625		78,008		67,046		(60,248)		324,431
Depreciation expense (4)	21,768		5,507		11,691		120		39,086
Amortization expense (5)	51,985		7,319		9,657		2,485		71,446
Net capital expenditures	25,463		3,427		4,801		1,158		34,849
Total assets	3,249,441		617,171		1,221,229		114,633		5,202,474
Long-lived assets (6)	279,481		55,069		192,940		19,849		547,339

(1)Non-operating expenses are not allocated to the reportable segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.

(2)Includes corporate and other general company assets and operations.

(3)Restructuring expenses are included in operating income of the segment to which they pertain. See note 12 for further details.

(4)Includes depreciation on right of use assets.

(5)Includes amortization of deferred financing costs and Convertible Notes issuance costs.

(6)Long-lived assets consist of property, plant and equipment, long-term deferred tax assets and other assets.

(7)Termination fee from Welbilt merger is included in Corporate and Other.

(8)Gain on sale of plant is included in Commercial Foodservice and Residential Kitchen for 2021 and Gain on sale of plant is included in Commercial Foodservice for 2020.

Schedule of Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

Long-lived assets, not including goodwill and other intangibles (in thousands):


	2022		2021		2020
United States and Canada	$	471,375	$	379,431	$	332,854

Asia	35,965		17,818		19,646
Europe and Middle East	142,326		152,384		188,448
Latin America	13,138		8,034		6,391
Total International	191,429		178,236		214,485

	$	662,804	$	557,667	$	547,339

Acquisitions and Purchase Accounting Estimated Fair Values of Assets Acquired and Liabilities Assumed - 2021 Acquisition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Business Acquisition [Line Items]
Goodwill	$ 2,411,834	$ 2,243,469	$ 1,934,261
Accrued contingent consideration	20,529	18,728
Residential Kitchen
Business Acquisition [Line Items]
Goodwill	751,755	707,667	450,027
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	1,296,494	$ 1,285,087	$ 1,228,436
2021 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	6,369
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	76,554
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	19,309
Goodwill	116,238
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	127,159
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	2,132
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(33,857)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	447
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(10,489)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	(303,862)
Accrued contingent consideration	9,204
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	313,066
Business Acquisition, Goodwill, Expected Tax Deductible Amount	114,200
Business Combination, Intangible Assets, Other than Goodwill, Expected Tax Deductible Amount	126,000
2021 Acquisitions \| Residential Kitchen
Business Acquisition [Line Items]
Goodwill	51,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	66,600
2021 Acquisitions \| Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	65,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	60,600
2021 Acquisitions \| Tradenames And Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	84,600
2021 Acquisitions \| Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 35,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2021 Acquisitions \| Developed Technology Rights
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 3,400
2021 Acquisitions \| Developed Technology Rights \| Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2021 Acquisitions \| Developed Technology Rights \| Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
2021 Acquisitions \| Backlog
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 3,800
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 months
2021 Acquisitions \| Tax loss carryforwards
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	$ (600)
2021 Acquisitions \| Book and tax difference, identifiable intangible assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	200
Previously Reported \| 2021 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	6,414
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	76,077
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	19,561
Goodwill	85,270
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	158,725
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	2,101
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(33,910)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(3,010)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(7,092)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	(304,136)
Accrued contingent consideration	9,404
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	313,540
Measurement period adjustment \| 2021 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	(45)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	477
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	(252)
Goodwill	30,968
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	(31,566)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	31
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	53
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	3,457
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(3,397)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	274
Accrued contingent consideration	(200)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ (474)

Acquisitions and Purchase Accounting Estimated Fair Values of Assets Acquired and Liabilities Assumed - Kamado Joe and Masterbuilt (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 27, 2021	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 278,797	$ 963,600	$ 79,003
Stock Issued During Period, Value, Acquisitions		0	2,522	15,869
Goodwill		2,411,834	2,243,469	1,934,261
Residential Kitchen
Business Acquisition [Line Items]
Goodwill		$ 751,755	$ 707,667	$ 450,027
Kamado Joe and Masterbuilt
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 403,600
Payments to Acquire Businesses, Gross	$ 403,600
Stock Issued During Period, Shares, Acquisitions	12,921
Stock Issued During Period, Value, Acquisitions	$ 2,500
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred	2,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	5,311
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	132,203
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	6,095
Goodwill	154,542
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	186,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	969
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(62,976)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(13,189)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(968)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	408,887
Business Combination, Intangible Assets, Other than Goodwill, Expected Tax Deductible Amount	186,900
Business Acquisition, Goodwill, Expected Tax Deductible Amount	54,500
Kamado Joe and Masterbuilt \| Residential Kitchen
Business Acquisition [Line Items]
Goodwill	154,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	186,900
Kamado Joe and Masterbuilt \| Tradenames And Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	145,400
Kamado Joe and Masterbuilt \| Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 31,400
Kamado Joe and Masterbuilt \| Customer Relationships \| Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Kamado Joe and Masterbuilt \| Customer Relationships \| Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Kamado Joe and Masterbuilt \| Backlog
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 7,100
Kamado Joe and Masterbuilt \| Backlog \| Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 months
Kamado Joe and Masterbuilt \| Backlog \| Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 months
Kamado Joe and Masterbuilt \| Developed Technology Rights
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 3,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	11 years
Kamado Joe and Masterbuilt \| Tax loss carryforwards
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	$ (2,300)
Kamado Joe and Masterbuilt \| Book and tax difference, identifiable intangible assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	20,100
Business combination, recognized identifiable assets acquired and liabilities assumed, deferred tax asset, net	4,600
Previously Reported \| Kamado Joe and Masterbuilt
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	5,381
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	137,826
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	7,773
Goodwill	110,052
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	215,577
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	2,143
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(54,865)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(15,907)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(1,914)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	406,066
Measurement period adjustment \| Kamado Joe and Masterbuilt
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	(70)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	(5,623)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	(1,678)
Goodwill	44,490
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	(28,677)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	(1,174)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(8,111)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	2,718
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	946
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 2,821

Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The company operates in three reportable operating segments defined by management reporting structure and operating activities. The Commercial Foodservice Equipment Group manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry. The Food Processing Equipment Group manufactures preparation, cooking, packaging food handling and food safety equipment for the food processing industry. The Residential Kitchen Equipment Group manufactures, sells and distributes kitchen equipment for the residential market.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker evaluates individual segment performance based on operating income. Management believes that intersegment sales are made at established arm's length transfer prices.

The following table summarizes the results of operations for the company’s business segments(1) (dollars in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Corporate and Other(2)		Total
2022
Net sales	$	2,410,266	$	574,465	$	1,048,122	$	—	$	4,032,853
Income (loss) from operations (3)	549,764		106,231		127,948		(144,339)		639,604
Depreciation expense (4)	24,432		5,912		13,596		679		44,619
Amortization expense (5)	55,506		13,400		17,376		7,159		93,441
Net capital expenditures	28,735		13,940		20,604		4,010		67,289
Total assets	3,789,437		982,605		1,972,351		130,473		6,874,866
Long-lived assets (6)	319,337		83,490		151,499		108,478		662,804

2021
Net sales	$	2,032,761	$	480,746	$	737,285	$	—	$	3,250,792
Income (loss) from operations (3,7,8)	423,121		94,414		124,701		(12,244)		629,992
Depreciation expense (4)	23,814		5,601		12,655		611		42,681
Amortization expense (5)	56,910		7,247		11,628		6,777		82,562
Net capital expenditures	26,507		9,111		9,232		1,701		46,551
Total assets	3,522,630		637,252		2,153,758		69,958		6,383,598
Long-lived assets (6)	292,593		54,934		169,028		41,112		557,667

2020
Net sales	$	1,510,279	$	437,272	$	565,706	$	—	$	2,513,257
Income (loss) from operations (3,8)	239,625		78,008		67,046		(60,248)		324,431
Depreciation expense (4)	21,768		5,507		11,691		120		39,086
Amortization expense (5)	51,985		7,319		9,657		2,485		71,446
Net capital expenditures	25,463		3,427		4,801		1,158		34,849
Total assets	3,249,441		617,171		1,221,229		114,633		5,202,474
Long-lived assets (6)	279,481		55,069		192,940		19,849		547,339

(2)Includes corporate and other general company assets and operations.

(3)Restructuring expenses are included in operating income of the segment to which they pertain. See note 12 for further details.

(4)Includes depreciation on right of use assets.

(5)Includes amortization of deferred financing costs and Convertible Notes issuance costs.

(6)Long-lived assets consist of property, plant and equipment, long-term deferred tax assets and other assets.

(7)Termination fee from Welbilt merger is included in Corporate and Other.

(8)Gain on sale of plant is included in Commercial Foodservice and Residential Kitchen for 2021 and Gain on sale of plant is included in Commercial Foodservice for 2020.

Geographic Information

Long-lived assets, not including goodwill and other intangibles (in thousands):


	2022		2021		2020
United States and Canada	$	471,375	$	379,431	$	332,854

Asia	35,965		17,818		19,646
Europe and Middle East	142,326		152,384		188,448
Latin America	13,138		8,034		6,391
Total International	191,429		178,236		214,485

	$	662,804	$	557,667	$	547,339

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

Schedule of Defined Benefit Plans Disclosures

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NATURE OF OPERATIONS The Middleby Corporation (the "company") is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The company manufactures and assembles this equipment at forty-one U.S. and thirty-four international manufacturing facilities. The company operates in three business segments: 1) the Commercial Foodservice Equipment Group, 2) the Food Processing Equipment Group and 3) the Residential Kitchen Equipment Group. The Commercial Foodservice Equipment Group has a broad portfolio of foodservice equipment, which enable it to serve virtually any cooking, warming, refrigeration, freezing and beverage application within a commercial kitchen or foodservice operation. This equipment is used across all types of foodservice operations, including quick-service restaurants, full-service restaurants, convenience stores, retail outlets, hotels and other institutions. The products offered by this group include conveyor ovens, combi-ovens, convection ovens, baking ovens, proofing ovens, deck ovens, speed cooking ovens, hydrovection ovens, ranges, fryers, rethermalizers, steam cooking equipment, food warming equipment, catering equipment, heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, induction cooking equipment, countertop cooking equipment, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, coldrooms, ice machines, freezers, soft serve ice cream equipment, coffee and beverage dispensing equipment, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The Food Processing Equipment Group offers a broad portfolio of processing solutions for customers producing pre-cooked meat products, such as hot dogs, dinner sausages, poultry and lunchmeats and baked goods such as muffins, cookies and bread. Through its broad line of products, the company is able to deliver a wide array of cooking solutions to service a variety of food processing requirements demanded by its customers. The company can offer highly integrated solutions that provide a food processing operation a uniquely integrated solution providing for the highest level of food quality, product consistency, and reduced operating costs resulting from increased product yields, increased capacity and greater throughput and reduced labor costs through automation. The products offered by this group include a wide array of cooking and baking solutions, including batch ovens, baking ovens, proofing ovens, conveyor belt ovens, continuous processing ovens, frying systems and automated thermal processing systems. The company also provides a comprehensive portfolio of complementary food preparation equipment such as tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, blenders, formers, battering equipment, breading equipment, seeding equipment, water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment, as well as a variety of automated loading and unloading systems, automated washing systems, auto-guided vehicles, food safety, food handling, freezing, defrosting and packaging equipment. This portfolio of equipment can be integrated to provide customers a highly efficient and customized solution. The Residential Kitchen Equipment Group has a broad portfolio of innovative and professional-style residential kitchen equipment. The products offered by this group include ranges, cookers, stoves, cooktops, microwaves, ovens, refrigerators, dishwashers, undercounter refrigeration, wine cellars, ice machines, beer dispensers, ventilation equipment, mixers, rotisseries and outdoor cooking equipment.

Lease Commitments

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lessee, Operating Leases

LEASE COMMITMENTS

Accounting Policy

At the commencement date of a lease, the company recognizes a liability to make lease payments and an asset representing the right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term, including variable fees that are known or subject to a minimum floor. The lease liability includes lease component fees, while non-lease component fees are expensed as incurred for all asset classes. The company's lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. When a contract excludes an implicit rate, the company utilizes an incremental borrowing rate based on information available at the lease commencement date including lease term and geographic region. The initial valuation of the right-of-use (“ROU”) asset includes the initial measurement of the lease liability, lease payments made in advance of the lease commencement date and initial direct costs incurred by the company and excludes lease incentives. Operating lease ROU assets are included in other assets and operating lease liabilities are included in accrued expenses and other non-current liabilities.

Leases with an initial term of 12 months or less are classified as short-term leases and are not recorded on the Consolidated Balance Sheets. The lease expense for short-term leases is recognized on a straight-line basis over the lease term.

Leases

The company leases warehouse space, office facilities and equipment under operating leases. The company has operating lease costs of $35.7 million, $31.5 million and $30.1 million in fiscal 2022, 2021 and 2020 respectively, including short-term lease expense and variable lease costs, which were immaterial in the year.


Leases (in thousands)	December 31, 2022		January 1, 2022
Operating lease right-of-use assets:
Other assets	$	102,314	$	93,388


Operating lease liabilities:
Accrued expenses	25,250		22,753
Other non-current liabilities	80,242		74,202
Total Liability	$	105,492	$	96,955


Total Lease Commitments (in thousands)	Operating Leases
2023	$	27,645
2024	23,177
2025	18,086
2026	14,818
2027	10,453
2028 and thereafter	20,181
Total future lease commitments	114,360
Less imputed interest	8,868
Total	$	105,492


Other Lease Information (in thousands, except lease term and discount rate)	Twelve Months Ended December 31, 2022			Twelve Months Ended January 1, 2022
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	28,104		$	25,957

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	20,725			16,353

	December 31, 2022			January 1, 2022

Weighted-average remaining lease terms - Operating	5.5 years			5.6 years

Weighted-average discount rate - Operating	2.9		%	2.8		%

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Revenue Recognition [Abstract]
Contract assets	$ 40,438	$ 21,592
Contract liabilities	185,824	133,315
Non-current contract liabilities	12,495	$ 11,602
Contract with Customer, Asset, Reclassified to Receivable	16,100
Contract with Customer, Liability, Revenue Recognized	123,300
Contract with Customer, Liability, Increase for Contract Acquired during the Period	174,400
Contract asset impairment	$ 0

Employee Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands)


	Fiscal 2022				Fiscal 2021
	U.S. Plans		Non-U.S. Plans		U.S. Plans		Non-U.S. Plans
Net Periodic Pension Cost (Benefit):
Service cost	$	—	$	—	$	—	$	773
Interest cost	923		25,032		841		17,340
Expected return on assets	(1,073)		(74,581)		(1,029)		(78,956)
Amortization of net loss	758		3,671		1,118		12,741
Amortization of prior service cost	—		2,589		—		2,879


	$	608	$	(43,289)	$	930	$	(45,223)

Change in Benefit Obligation:
Benefit obligation – beginning of year	$	36,423	$	1,544,147	$	38,897	$	1,744,574
Service cost	—		—		—		773

Interest on benefit obligations	923		25,032		841		17,340
Member contributions	—		—		—		81
Actuarial gain	(8,060)		(409,462)		(1,617)		(135,475)

Net benefit payments	(1,736)		(59,682)		(1,698)		(65,138)

Exchange effect	—		(153,882)		—		(18,008)
Benefit obligation – end of year	$	27,550	$	946,153	$	36,423	$	1,544,147

Change in Plan Assets:
Plan assets at fair value – beginning of year	$	18,289	$	1,342,601	$	17,455	$	1,296,516
Company contributions	1,173		5,442		1,233		4,890
Investment (loss) gain	(2,728)		(207,270)		1,299		123,708
Member contributions	—		—		—		81

Benefit payments and plan expenses	(1,736)		(59,682)		(1,698)		(65,138)
Exchange effect	—		(137,334)		—		(17,456)
Plan assets at fair value – end of year	$	14,998	$	943,757	$	18,289	$	1,342,601

Funded Status:
Unfunded benefit obligation	$	(12,552)	$	(2,396)	$	(18,134)	$	(201,546)

Amounts recognized in balance sheet at year end:
Accrued pension benefits	$	(12,552)	$	(2,396)	$	(18,134)	$	(201,546)


	Fiscal 2022						Fiscal 2021
	U.S. Plans			Non-U.S. Plans			U.S. Plans			Non-U.S. Plans
Pre-tax components in accumulated other comprehensive income at period end:
Net actuarial loss	$	2,402		$	121,292		$	7,419		$	281,745

Pre-tax components recognized in other comprehensive income for the period:
Current year actuarial gain	$	(4,259)		$	(148,515)		$	(1,887)		$	(181,518)
Actuarial loss recognized	(758)			(4,272)			(1,118)			(12,832)

Prior service cost recognized	—			(7,666)			—			(3,457)


Total amount recognized	$	(5,017)		$	(160,453)		$	(3,005)		$	(197,807)

Accumulated Benefit Obligation	$	27,550		$	946,136		$	36,423		$	1,544,117

Salary growth rate	n/a			0.8		%	n/a			0.8		%
Assumed discount rate	4.9		%	4.8		%	2.6		%	1.9		%
Expected return on assets	6.0		%	6.2		%	6.0		%	6.2		%

Schedule of Allocation of Plan Assets

The assets of the plans were invested in the following classes of securities (none of which were securities of the company):

U.S. Plans:


	Target Allocation		Percentage of Plan Assets
			2022		2021
Equity	48	%	45	%	53	%
Fixed income	40		40		36
Money market	4		5		1
Other (real estate investment trusts & commodities contracts)	8		10		10
	100	%	100	%	100	%

Non-U.S. Plans:


	Target Allocation		Percentage of Plan Assets
			2022		2021
Equity	17	%	10	%	11	%
Fixed income	38		55		56
Alternatives/Other	32		19		15
Real Estate	13		10		15
Cash and cash equivalents	—		6		3
	100	%	100	%	100	%

Pension Plans Fair Value Of Investments

The following tables summarize the basis used to measure the pension plans’ assets at fair value as of December 31, 2022 and January 1, 2022 (in thousands):

U.S. Plans:


	Fiscal 2022						Fiscal 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Net Asset Value		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Net Asset Value

Short Term Investment Fund (a)	$	771	$	—	$	771	$	274	$	—	$	274

Equity Securities:
Large Cap	2,818		2,818		—		3,928		3,928		—
Mid Cap	555		555		—		413		413		—
Small Cap	329		329		—		424		424		—
International	3,002		3,002		—		4,918		4,918		—

Fixed Income:
Government/Corporate	4,973		4,973		—		5,137		5,137		—
High Yield	1,041		1,041		—		1,383		1,383		—

Alternative:
Global Real Estate Investment Trust	602		602		—		758		758		—
Commodities Contracts	907		907		—		1,054		1,054		—

Total	$	14,998	$	14,227	$	771	$	18,289	$	18,015	$	274

(a)Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Non-U.S. Plans:


	Fiscal 2022
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value

Cash and cash equivalents	$	52,041	$	5,372	$	7,372	$	—	$	39,297

Equity Securities:
UK	3,677		68		—		—		3,609
International:
Developed	70,611		2,634		—		—		67,977
Emerging	18,642		298		—		—		18,344
Unquoted/Private Equity	2,083		—		—		—		2,083

Fixed Income:
Government/Corporate:
UK	191,868		8,933		—		—		182,935
International	127,485		—		—		—		127,485
Index Linked	199,220		1,433		—		—		197,787
Other	1,806		—		—		—		1,806


Real Estate:
Direct	83,280		—		83,280		—		—
Indirect	5,073		58		—		—		5,015

Hedge Fund Strategy:
Equity Long/Short	30,266		—		—		—		30,266
Arbitrage & Event	22,398		—		—		—		22,398
Directional Trading & Fixed Income	6,099		—		—		—		6,099
Cash & Other	169,504		—		—		—		169,504
Direct Sourcing	4,014		—		—		—		4,014

Leveraged Loans	8,539		—		—		—		8,539

Alternative/Other	(52,849)		1,583		—		—		(54,432)

Total	$	943,757	$	20,379	$	90,652	$	—	$	832,726


	Fiscal 2021
Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Net Asset Value

Cash and cash equivalents	$	51,780	$	6,566	$	5,092	$	—	$	40,122

Equity Securities:
UK	6,470		1,878		—		—		4,592
International:
Developed	117,751		3,034		—		—		114,717
Emerging	31,392		435		—		—		30,957
Unquoted/Private Equity	2,195		1		—		—		2,194

Fixed Income:
Government/Corporate:
UK	259,833		15,471		—		—		244,362
International	114,973		—		—		—		114,973
Index Linked	364,666		2,138		—		—		362,528
Other	7,811		—		—		—		7,811
Convertible Bonds	185		—		—		—		185

Real Estate:
Direct	183,045		—		183,045		—		—
Indirect	8,030		80		3,038		—		4,912

Hedge Fund Strategy:
Equity Long/Short	29,345		—		—		—		29,345
Arbitrage & Event	25,788		—		—		—		25,788
Directional Trading & Fixed Income	3,266		—		—		—		3,266
Cash & Other	196,930		—		—		—		196,930
Direct Sourcing	1,156		—		—		—		1,156

Leveraged Loans	30,224		—		—		—		30,224

Alternative/Other	(92,239)		453		—		—		(92,692)

Total	$	1,342,601	$	30,056	$	191,175	$	—	$	1,121,370

Schedule of Expected Benefit Payments

Estimated future benefit payments under the plans are as follows (dollars in thousands):


	U.S. Plans		Non-U.S. Plans
2023	$	1,814	$	55,341
2024	1,822		55,551
2025	1,841		56,522
2026	1,784		56,243
2027 through 2032	11,573		338,542

Segment Information - Results of Business Segments (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Jan. 01, 2022

Jan. 02, 2021

$ 4,032,853

$ 3,250,792

$ 2,513,257

^[1]

639,604

629,992

324,431

^[2]

44,619

42,681

39,086

93,441

82,562

71,446

67,289

46,551

34,849

6,874,866

6,383,598

5,202,474

Commercial Foodservice Equipment Group

^[3]

662,804

557,667

547,339

2,410,266

2,032,761

1,510,279

^[1]

549,764

423,121

^[4]

239,625

^[4]

^[2]

24,432

23,814

21,768

55,506

56,910

51,985

28,735

26,507

25,463

3,789,437

3,522,630

3,249,441

^[3]

319,337

292,593

279,481

Food Processing Group

574,465

480,746

437,272

^[1]

106,231

94,414

78,008

^[2]

5,912

5,601

5,507

13,400

7,247

7,319

13,940

9,111

3,427

982,605

637,252

617,171

^[3]

83,490

54,934

55,069

Residential Kitchen

1,048,122

737,285

565,706

^[1]

127,948

124,701

^[4]

67,046

^[2]

13,596

12,655

11,691

17,376

11,628

9,657

20,604

9,232

4,801

1,972,351

2,153,758

1,221,229

^[3]

151,499

169,028

192,940

Corporate and Other

^[5]

^[1],[5],[6]

(144,339)

(12,244)

^[7]

(60,248)

^[2],[5]

679

611

120

^[5],[6],[8]

7,159

6,777

2,485

^[5]

4,010

1,701

1,158

^[5]

130,473

69,958

114,633

Schedule of Earnings Before Taxes

^[3],[5]

$ 108,478

$ 41,112

$ 19,849

[1]	Restructuring expenses are included in operating income of the segment to which they pertain. See note 12 for further details
[2]	Includes depreciation on right of use assets.
[3]	Long-lived assets consist of property, plant and equipment, long-term deferred tax assets and other assets.
[4]	Gain on sale of plant is included in Commercial Foodservice and Residential Kitchen for 2021 and Gain on sale of plant is included in Commercial Foodservice for 2020.
[5]	Includes corporate and other general company assets and operations.
[6]	Non-operating expenses are not allocated to the reportable segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
[7]	Termination fee from Welbilt merger is included in Corporate and Other.
[8]	Includes amortization of deferred financing costs and Convertible Notes issuance costs.

Employee Retirement Plans Summary classes of security by percentage (Details)	Dec. 31, 2022	Jan. 01, 2022
USPlans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	100.00%	100.00%
Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	100.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	100.00%	100.00%
Equity Securities [Member] \| USPlans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	48.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	45.00%	53.00%
Equity Securities [Member] \| Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	17.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	10.00%	11.00%
Fixed Income Securities [Member] \| USPlans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	40.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	40.00%	36.00%
Fixed Income Securities [Member] \| Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	38.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	55.00%	56.00%
Money Market Instruments [Member] \| USPlans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	4.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	5.00%	1.00%
Money Market Instruments [Member] \| Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	32.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	19.00%	15.00%
Other (real estate & commodities) [Member] \| USPlans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	10.00%	10.00%
Other (real estate & commodities) [Member] \| Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	13.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	10.00%	15.00%
Cash and Cash Equivalents \| Non US Plans
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	6.00%	3.00%

Employee Retirement Plans Summary of the Plans' Net Periodic Pension Cost, Benefit Obligations, Funded Status, and Net Balance Sheet Position (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Net Periodic Pension Cost:
Curtailment loss	$ 0	$ 0	$ (14,682)
Amounts recognized in balance sheet at year end:
Accrued pension benefits	(14,948)	(219,680)
Non US Plans
Net Periodic Pension Cost:
Service cost	0	773
Interest cost	25,032	17,340
Expected return on assets	(74,581)	(78,956)
Amortization of net loss	(3,671)	(12,741)
Amortization of prior service cost	2,589	2,879
Defined Benefit Plan, Net Periodic Benefit Cost	(43,289)	(45,223)
Change in Benefit Obligation:
Benefit obligation – beginning of year	1,544,147	1,744,574
Service cost	0	773
Interest cost	25,032	17,340
Member contributions	0	81
Actuarial gain	(409,462)	(135,475)
Net benefit payments	(59,682)	(65,138)
Exchange effect	(153,882)	(18,008)
Benefit obligation – end of year	946,153	1,544,147	1,744,574
Change in Plan Assets:
Plan assets at fair value – beginning of year	1,342,601	1,296,516
Company contributions	5,442	4,890
Investment (loss) gain	(207,270)	123,708
Member contributions	0	81
Benefit payments and plan expenses	(59,682)	(65,138)
Exchange effect	(137,334)	(17,456)
Plan assets at fair value – end of year	943,757	1,342,601	1,296,516
Funded Status:
Unfunded benefit obligation	(2,396)	(201,546)
Amounts recognized in balance sheet at year end:
Accrued pension benefits	(2,396)	(201,546)
Pre-tax components in accumulated other comprehensive income at period end:
Net actuarial loss	121,292	281,745
Current year actuarial gain	(148,515)	(181,518)
Actuarial loss recognized	(4,272)	(12,832)
Prior service cost recognized	(7,666)	(3,457)
Total amount recognized	160,453	197,807
Accumulated Benefit Obligation	$ 946,136	$ 1,544,117
Salary growth rate	0.80%	0.80%
Assumed discount rate	4.80%	1.90%
Expected return on assets	6.20%	6.20%
USPlans
Net Periodic Pension Cost:
Service cost	$ 0	$ 0
Interest cost	923	841
Expected return on assets	(1,073)	(1,029)
Amortization of net loss	(758)	(1,118)
Amortization of prior service cost	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	608	930
Change in Benefit Obligation:
Benefit obligation – beginning of year	36,423	38,897
Service cost	0	0
Interest cost	923	841
Member contributions	0	0
Actuarial gain	(8,060)	(1,617)
Net benefit payments	(1,736)	(1,698)
Exchange effect	0	0
Benefit obligation – end of year	27,550	36,423	38,897
Change in Plan Assets:
Plan assets at fair value – beginning of year	18,289	17,455
Company contributions	1,173	1,233
Investment (loss) gain	(2,728)	1,299
Member contributions	0	0
Benefit payments and plan expenses	(1,736)	(1,698)
Exchange effect	0	0
Plan assets at fair value – end of year	14,998	18,289	$ 17,455
Funded Status:
Unfunded benefit obligation	(12,552)	(18,134)
Amounts recognized in balance sheet at year end:
Accrued pension benefits	(12,552)	(18,134)
Pre-tax components in accumulated other comprehensive income at period end:
Net actuarial loss	2,402	7,419
Current year actuarial gain	(4,259)	(1,887)
Actuarial loss recognized	(758)	(1,118)
Prior service cost recognized	0	0
Total amount recognized	5,017	3,005
Accumulated Benefit Obligation	$ 27,550	$ 36,423
Assumed discount rate	4.90%	2.60%
Expected return on assets	6.00%	6.00%

Termination of Welbilt Merger (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 14, 2021	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Business Acquisition [Line Items]
Merger termination fee		$ 0	$ 110,000	$ 0
Welbilt
Business Acquisition [Line Items]
Merger termination fee	$ 110,000
Business Acquisition, Transaction Costs			$ 19,700

Income Taxes - Reconciliation of Differences Between Income Taxes Computed at the Federal Statutory Rate to the Effective Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	3.30%	3.10%	3.20%
Permanent differences	0.90%	0.50%	(0.40%)
Foreign income tax rate at rates other than U.S. statutory	0.20%	0.20%	0.50%
Deferred tax changes	0.00%	(2.20%)	(0.70%)
Change in valuation allowances	0.00%	0.40%	(0.10%)
Tax on unremitted earnings	0.30%	0.40%	1.20%
Federal Refund	0.00%	(0.70%)	0.00%
Internal restructuring	(2.30%)	0.00%	0.00%
Other	(0.70%)	(1.60%)	(2.00%)
Consolidated effective tax	22.70%	21.10%	22.70%
Provision for income taxes	$ 127,846	$ 131,012	$ 60,763

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Deferred tax assets:
Compensation related	$ 26,273	$ 21,543
Pension and post-retirement benefits	1,640	49,072
Inventory reserves	26,134	14,453
Accrued liabilities and reserves	7,992	17,088
Warranty reserves	17,593	19,286
Operating lease liability	19,890	18,643
Basis difference on affiliates	14,473	0
Interest Rate Swaps	0	4,573
Convertible debt	39,388	37,034
Net operating loss carryforwards	12,964	17,083
Other	14,879	12,695
Gross deferred tax assets	181,226	211,470
Valuation allowance	(11,599)	(10,222)
Deferred tax assets	169,627	201,248
Deferred tax liabilities:
Intangible assets	(287,433)	(273,974)
Depreciable assets	(32,267)	(26,996)
Basis difference on affiliates	0	(18,795)
Operating lease right-of-use assets	(19,240)	(18,029)
Interest rate swaps	(16,836)	0
Other	(27,317)	(17,195)
Deferred Tax Liabilities, Gross	383,093	354,989
Deferred Tax Liabilities, Net	(213,466)	(153,741)
Deferred Income Tax Assets, Net	6,738	33,194
Deferred Income Tax Liabilities, Net	$ (220,204)	$ (186,935)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Earnings before taxes is summarized as follows (in thousands):


	2022		2021		2020
Domestic	$	383,813	$	453,357	$	178,813
Foreign	180,602		166,147		89,244
Total	$	564,415	$	619,504	$	268,057

Schedule of Provision of Taxes

The provision for income taxes is summarized as follows (in thousands):


	2022		2021		2020
Federal	$	62,416	$	84,689	$	36,908
State and local	23,892		24,363		8,815
Foreign	41,538		21,960		15,040
Total	$	127,846	$	131,012	$	60,763

Current	$	134,488	$	124,149	$	44,342
Deferred	(6,642)		6,863		16,421
Total	$	127,846	$	131,012	$	60,763

Schedule of Effective Income Tax Reconciliation

Reconciliation of the differences between income taxes computed at the federal statutory rate to the effective rate are as follows:


	2022			2021		2020
U.S. federal statutory tax rate	21.0	%		21.0	%	21.0	%

State taxes, net of federal benefit	3.3			3.1		3.2
Permanent differences	0.9			0.5		(0.4)
Foreign income tax rate at rates other than U.S. statutory	0.2		-2.2	0.2		0.5
Deferred tax changes	—			(2.2)		(0.7)
Change in valuation allowances	—			0.4		(0.1)
Tax on unremitted earnings	0.3			0.4		1.2
Federal Refund	—			(0.7)		—
Internal restructuring	(2.3)			—		—
Other	(0.7)			(1.6)		(2.0)
Consolidated effective tax	22.7	%		21.1	%	22.7	%

Schedule of Deferred Assets and Liabilities

At December 31, 2022 and January 1, 2022, the company had recorded the following deferred tax assets and liabilities (in thousands):


	2022		2021
Deferred tax assets:
Compensation related	$	26,273	$	21,543
Pension and post-retirement benefits	1,640		49,072
Inventory reserves	26,134		14,453
Accrued liabilities and reserves	7,992		17,088
Warranty reserves	17,593		19,286
Operating lease liability	19,890		18,643
Basis difference on affiliates	14,473		—
Interest rate swaps	—		4,573
Convertible debt	39,388		37,034
Net operating loss carryforwards	12,964		17,083
Other	14,879		12,695
Gross deferred tax assets	181,226		211,470
Valuation allowance	(11,599)		(10,222)
Deferred tax assets	$	169,627	$	201,248

Deferred tax liabilities:
Intangible assets	$	(287,433)	$	(273,974)
Depreciable assets	(32,267)		(26,996)
Basis difference on affiliates	—		(18,795)
Operating lease right-of-use assets	(19,240)		(18,029)
Interest rate swaps	(16,836)		—
Other	(27,317)		(17,195)

Deferred tax liabilities	$	(383,093)	$	(354,989)

Net deferred tax assets (liabilities)	$	(213,466)	$	(153,741)

Long-term deferred asset	6,738		33,194
Long-term deferred liability	(220,204)		(186,935)
Net deferred tax assets (liabilities)	$	(213,466)	$	(153,741)

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to the unrecognized tax benefits for the fiscal years ended January 2, 2021, January 1, 2022 and December 31, 2022 (in thousands):


Balance at January 2, 2021	$	30,329

Increases to current year tax positions	1,760
Increase to prior year tax positions	6,796
Decrease to prior year tax positions	(576)
Settlements	(1,180)
Lapse of statute of limitations	(920)

Balance at January 1, 2022	$	36,209

Increases to current year tax positions	2,195
Increase to prior year tax positions	534
Decrease to prior year tax positions	(1,709)
Settlements	(1,974)
Lapse of statute of limitations	(1,607)

Balance as of December 31, 2022	$	33,648

Lease Commitments Lease Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Leases [Abstract]
2023	$ 27,645
2024	23,177
2025	18,086
2026	14,818
2027	10,453
2028 and thereafter	20,181
Total future lease commitments	114,360
Less imputed interest	8,868
Operating Lease, Liability	$ 105,492	$ 96,955

Summary of Significant Accounting Policies - Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Accounting Policies [Abstract]
Foreign Currency Transaction Gain (Loss), before Tax	$ 28.1	$ (0.3)	$ 2.9

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)Basis of Presentation

The consolidated financial statements include the accounts of the company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires the company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses as well as related disclosures. Significant items that are subject to such estimates and judgments include allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves and post-retirement obligations. On an ongoing basis, the company evaluates its estimates and assumptions based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.

The company's fiscal year ends on the Saturday nearest December 31. Fiscal years 2022, 2021, and 2020 ended on December 31, 2022, January 1, 2022 and January 2, 2021, respectively, and included 52, 52 and 53 weeks, respectively.

Certain prior year amounts have been reclassified to be consistent with current year presentation, including non-cash unrealized foreign exchange on non-functional currency third party debt, previously reported in changes in assets and liabilities, net of acquisitions to other non-cash items as an adjustments to reconcile net earnings to cash provided by operating activities on the Consolidated Statements of Cash Flows.

(b)Cash and Cash Equivalents

The company considers all short-term investments with original maturities of three months or less when acquired to be cash equivalents. The company’s policy is to invest its excess cash in interest-bearing deposits with major banks that are subject to minimal credit and market risk.

(c)Accounts Receivable

Accounts receivable, as shown in the consolidated balance sheets, are net of allowances for doubtful accounts of $20.3 million and $18.8 million at December 31, 2022 and January 1, 2022, respectively. At December 31, 2022, all accounts receivable are expected to be collected within one year.

(d) Inventories

Inventories are composed of material, labor and overhead and are stated at the lower of cost or net realizable value. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at December 31, 2022 and January 1, 2022 are as follows (in thousands):


	2022		2021
Raw materials and parts	$	595,325	$	421,361
Work in process	86,083		65,581
Finished goods	396,321		350,476
	$	1,077,729	$	837,418

(e)Property, Plant and Equipment

Property, plant and equipment are carried at cost as follows (in thousands):


	2022		2021
Land	$	65,794	$	54,477
Building and improvements	306,004		270,812
Furniture and fixtures	59,438		56,706
Machinery and equipment	311,864		265,188
	743,100		647,183
Less accumulated depreciation	(299,572)		(266,203)
	$	443,528	$	380,980

Property, plant and equipment are depreciated or amortized on a straight-line basis over their useful lives based on management's estimates of the period over which the assets will be utilized to benefit the operations of the company. The useful lives are estimated based on historical experience with similar assets, taking into account anticipated technological or other changes. The company periodically reviews these lives relative to physical factors, economic factors and industry trends. If there are changes in the planned use of property and equipment or if technological changes were to occur more rapidly than anticipated, the useful lives assigned to these assets may need to be shortened, resulting in the recognition of increased depreciation and amortization expense in future periods.

Following is a summary of the estimated useful lives:


Description						Life
Building and improvements						20 to 40 years
Furniture and fixtures						3 to 7 years
Machinery and equipment						3 to 10 years

Depreciation expense amounted to $44.2 million, $42.7 million and $39.1 million in fiscal 2022, 2021 and 2020, respectively.

Expenditures which significantly extend useful lives are capitalized. Maintenance and repairs are charged to expense as incurred. Asset impairments are recorded whenever events or changes in circumstances indicate that the recorded value of an asset is greater than the sum of its expected future undiscounted cash flows. Asset impairments are recorded at the amount by which the recorded value of an asset exceeds its fair value.

(f)Goodwill and Other Intangibles

The company’s business acquisitions result in the recognition of goodwill and other intangible assets, which are a significant portion of the company’s total assets. Goodwill represents the excess of acquisition costs over the fair value of the net tangible assets and identifiable intangible assets acquired in a business combination. Identifiable intangible assets are recognized separately from goodwill and include trademarks and trade names, technology, customer relationships and other specifically identifiable assets. Trademarks and trade names are deemed to be indefinite-lived. Goodwill and indefinite-lived intangible assets are not amortized but are subject to impairment testing.

The company performs the annual impairment assessment for goodwill and indefinite-lived intangible assets as of first day of the fourth quarter of the fiscal year and more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. The company initially performs a qualitative analysis to determine if it is more likely than not that the goodwill balance or indefinite-life intangible asset is impaired. In conducting a qualitative assessment, the company analyzes a variety of events or factors that may influence the fair value of the reporting unit or indefinite-life intangible, including, but not limited to: macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, share price and other relevant factors.

If an indicator of impairment is determined from the qualitative analysis, then the company will perform a quantitative analysis. The fair value of each reporting unit is compared to its carrying value. If the fair value of the reporting unit is less than its carrying value, the resulting difference will be a charge to impairment of goodwill in the Consolidated Statements of Earnings in the period in which the determination is made. Fair value is determined using a combination of present value techniques and market prices of comparable businesses.

The company performed a qualitative assessment as of October 2, 2022 over all three reporting units. As a result of the financial performance for the Residential Kitchen reporting unit, the company completed a quantitative analysis. The fair value of the reporting unit exceeded its carrying unit by approximately 20% and no impairment of goodwill was recognized. Based on the qualitative assessment for all other reporting units it was determined there was no impairment of goodwill. The company has not recognized any goodwill impairments and therefore there are no accumulated impairment losses.

Goodwill is allocated to the business segments as follows (in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Balance as of January 2, 2021	$	1,228,436	$	255,798	$	450,027	$	1,934,261

Goodwill acquired during the year	63,849		—		266,170		330,019
Measurement period adjustments to goodwill acquired in prior year	2,411		—		—		2,411
Exchange effect	(9,609)		(5,083)		(8,530)		(23,222)

Balance as of January 1, 2022	$	1,285,087	$	250,715	$	707,667	$	2,243,469

Goodwill acquired during the year	30,107		112,254		2,266		144,627
Measurement period adjustments to goodwill acquired in prior year	923		—		75,344		76,267
Exchange effect	(19,623)		616		(33,522)		(52,529)

Balance as of December 31, 2022	$	1,296,494	$	363,585	$	751,755	$	2,411,834

Intangible assets consist of the following (in thousands):


	December 31, 2022					January 1, 2022
	Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization		Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer relationships	7.6	$	839,811	$	(460,885)	7.6	$	863,339	$	(411,327)
Backlog	0.1	8,301		(6,352)		0.2	13,684		(929)
Developed technology	8.3	79,763		(35,797)		8.9	73,461		(29,952)
		$	927,875	$	(503,034)		$	950,484	$	(442,208)
Indefinite-lived intangible assets:
Trademarks and trade names		$	1,369,391				$	1,367,101

The company completed its annual impairment assessment for indefinite-lived intangible assets as of October 2, 2022. We identified indicators of impairment with certain tradenames within the Commercial Foodservice and Residential Kitchen reporting units based on the qualitative assessment. The primary indicator of impairment was lower than expected revenue performance in the current year, forecasted revenues for future periods and market conditions. Based on the results of the quantitative assessments, the company determined there was no impairment of any of the indefinite-lived intangible assets.

The Kamado Joe and Masterbuilt trademarks were at risk at October 2, 2022. The company believes the assumptions utilized within the quantitative analysis are reasonable and consistent with assumptions that would be used by other marketplace participants.

The fair values of all other trademarks exceeded their carrying values by an amount sufficient to not be deemed "at risk." The company performed a qualitative assessment as of October 2, 2022 for all other trademarks and trade names and determined it is more like than not that the fair value of its other indefinite-life intangible assets are greater than the carrying amounts.

The company elected to perform a qualitative assessment on the other indefinite-life intangible assets noting no events that indicated that the fair value was less than the carrying value that would require a quantitative impairment assessment.

The estimates of future cash flows used in determining the fair value of goodwill and indefinite-lived intangible assets involve significant management judgment and are based upon assumptions about expected future operating performance, economic conditions, market conditions and cost of capital. Inherent in estimating the future cash flows are uncertainties beyond our control, such as changes in capital markets. The company continues to monitor the impacts from the COVID-19 pandemic and subsequent accelerated recovery, along with inflationary impacts from the war in Ukraine to assess the outlook for demand of its products and the impact on its business and financial performance. The actual cash flows could differ materially from management's estimates due to changes in business conditions, operating performance and economic conditions.

Definite-lived intangible assets are amortized over their estimated useful lives and tested for impairment in accordance with the methodology discussed above under "Property, Plant and Equipment."

The aggregate intangible amortization expense was $86.3 million, $75.8 million and $69.0 million in 2022, 2021 and 2020, respectively. The estimated future amortization expense of intangible assets is as follows (in thousands):


2023	$	74,787
2024	61,716
2025	55,578
2026	52,411
2027	43,893
2028 and thereafter	136,456
	$	424,841

(g) Accrued Expenses

Accrued expenses consist of the following at December 31, 2022 and January 1, 2022, respectively (in thousands):


	2022		2021
Contract liabilities	$	185,824	$	133,315
Accrued payroll and related expenses	122,861		115,762
Accrued warranty	82,096		80,215
Accrued customer rebates	70,706		72,451
Accrued short-term leases	25,250		22,753
Accrued sales and other tax	24,044		22,684
Accrued contingent consideration	20,529		18,728
Accrued professional fees	19,541		19,292
Accrued agent commission	17,381		13,670

Accrued product liability and workers compensation	11,326		10,952
Other accrued expenses	91,769		73,033

	$	671,327	$	582,855

(h)Litigation Matters

From time to time, the company is subject to proceedings, lawsuits and other claims related to products, suppliers, employees, customers and competitors. The company maintains insurance to partially cover product liability, workers compensation, property and casualty, and general liability matters. The company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after assessment of each matter and the related insurance coverage. The required accrual may change in the future due to new developments or changes in approach such as a change in settlement strategy in dealing with these matters. The company does not believe that any such matter will have a material adverse effect on its financial condition, results of operations or cash flows of the company.

(i)Accumulated Other Comprehensive Income (Loss)

The following table summarizes the components of accumulated other comprehensive income (loss) as reported in the consolidated balance sheets (in thousands):


	2022		2021
Unrecognized pension benefit costs, net of tax of $(1,995) and $(39,470)	$	(121,701)	$	(249,696)
Unrealized loss on interest rate swap, net of tax of $16,836 and $(4,501)	48,574		(13,064)
Unrealized gain on certain investments, net of tax of $— and $433	—		1,330
Currency translation adjustments	(205,345)		(97,654)

	$	(278,472)	$	(359,084)

Changes in accumulated other comprehensive income (loss) (1) were as follows (in thousands):


	Currency Translation Adjustment		Pension Benefit Costs		Unrealized Gain/(Loss) Interest Rate Swap		Unrealized Gain/(Loss) Certain Investments		Total
Balance as of January 2, 2021	$	(49,961)	$	(400,919)	$	(37,548)	$	—	$	(488,428)
Other comprehensive income before reclassification	(47,693)		137,187		6,015		1,330		96,839
Amounts reclassified from accumulated other comprehensive income	—		14,036		18,469		—		32,505
Net current-period other comprehensive income	$	(47,693)	$	151,223	$	24,484	1,330		$	129,344
Balance as of January 1, 2022	$	(97,654)	$	(249,696)	$	(13,064)	$	1,330	$	(359,084)
Other comprehensive income before reclassification	(107,691)		117,840		58,135		(1,330)		66,954
Amounts reclassified from accumulated other comprehensive income	—		10,155		3,503		—		13,658
Net current-period other comprehensive income	$	(107,691)	$	127,995	$	61,638	$	(1,330)	$	80,612
Balance as of December 31, 2022	$	(205,345)	$	(121,701)	$	48,574	$	—	$	(278,472)

(1) As of December 31, 2022 pension and unrealized gain/(loss) interest rate swap amounts are net of tax of $(2.0) million, and $16.8 million, respectively. During the twelve months ended December 31, 2022, the adjustments to pension benefit costs unrealized gain/(loss) interest rate swap and gain/(loss) on certain investments were net of tax of $37.5 million, $21.3 million and $(0.4) million, respectively.

(j) Fair Value Measures

ASC 820 Fair Value Measurements and Disclosures defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels:

Level 1 – Quoted prices in active markets for identical assets or liabilities

Level 2 – Inputs, other than quoted prices in active markets, which are observable either directly or indirectly

Level 3 – Unobservable inputs based on our own assumptions

The company’s financial assets and liabilities that are measured at fair value are categorized using the fair value hierarchy at December 31, 2022 and January 1, 2022 are as follows (in thousands):


	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of December 31, 2022
Financial Assets:
Interest rate swaps	$	—	$	64,985	$	—	$	64,985


Financial Liabilities:

Contingent consideration	$	—	$	—	$	47,242	$	47,242
Foreign exchange derivative contracts	$	—	$	474	$	—	$	474

As of January 1, 2022
Financial Assets:
Interest rate swaps	$	—	$	3,645	$	—	$	3,645
Foreign exchange derivative contracts	$	—	$	1,095	$	—	$	1,095

Financial Liabilities:
Interest rate swaps	$	—	$	21,635	$	—	$	21,635
Contingent consideration	$	—	$	—	$	34,983	$	34,983

The contingent consideration, as of December 31, 2022 and January 1, 2022, relates to the earnout provisions recorded in conjunction with various purchase agreements.

The earnout provisions associated with these acquisitions are based upon performance measurements related to sales and earnings, as defined in the respective purchase agreements. On a quarterly basis, the company assesses the projected results for each of the acquisitions in comparison to the earnout targets and adjusts the liability accordingly. Discount rates for valuing contingent consideration are determined based on the company rates and specific acquisition risk considerations. Changes in fair value associated with the earnout provisions are recognized in Selling, general and administrative expenses within the Consolidated Statements of Earnings.

The following table represents changes in the fair value of the contingent consideration liabilities for the fiscal years 2022 and 2021:


	December 31, 2022		January 1, 2022
Beginning balance	$	34,983	$	25,558
Payments of contingent consideration	(5,103)		(528)
New contingent consideration	22,299		8,567
Changes in fair value	(4,937)		1,386
Ending balance	$	47,242	$	34,983

(k)Foreign Currency

The income statements of the company’s foreign operations are translated at the monthly average rates. Assets and liabilities of the company’s foreign operations are translated at exchange rates at the balance sheet date. These translation adjustments are not included in determining net income for the period but are disclosed and accumulated in a separate component of stockholders’ equity. Exchange gains and losses on foreign currency transactions are included in determining net income for the period in which they occur. These transactions amounted to a loss of $28.1 million, gain of $0.3 million and a loss of $2.9 million in 2022, 2021 and 2020, respectively, and are included in other expense on the statements of earnings.

(l)Shipping and Handling Costs

Fees billed to the customer for shipping and handling are classified as a component of net revenues. Shipping and handling costs are included in cost of products sold.

(m)Warranty Costs

In the normal course of business, the company issues product warranties for specific product lines and provides for the estimated future warranty cost in the period in which the sale is recorded. The estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Because warranty estimates are forecasts that are based on the best available information, claims costs may differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable.

A rollforward of the warranty reserve for the fiscal years 2022 and 2021 are as follows (in thousands):


	2022		2021
Beginning balance	$	80,215	$	69,667
Warranty reserve related to acquisitions	3,607		5,046
Warranty expense	70,774		68,199
Warranty claims paid	(72,500)		(62,697)
Ending balance	$	82,096	$	80,215

(n)Research and Development Costs

Research and development costs, included in cost of sales in the consolidated statements of earnings, are charged to expense when incurred. These costs were $48.9 million, $41.8 million and $35.3 million in fiscal 2022, 2021 and 2020, respectively.

(o)Non-Cash Share-Based Compensation

The company's 2021 Stock Incentive Plan (the "2021 Plan"), allows for the granting of stock options, stock appreciation rights, restricted stock and restricted stock units, performance stock, phantom units and other equity-based awards. The company estimates the fair value of restricted stock grants, restricted stock units and performance stock units at the time of grant and recognizes compensation costs over the vesting period of the grants. The expense, net of forfeitures, is recognized using the straight-line method. Non-cash share-based compensation expense is only recognized for those grants expected to vest. See Note 6, "Common and Preferred Stock," for further information on the company's share-based incentive plans.

(p)Earnings Per Share

“Basic earnings per share” is calculated based upon the weighted average number of common shares actually outstanding, and “diluted earnings per share” is calculated based upon the weighted average number of common shares outstanding and other dilutive securities.

The company’s potentially dilutive securities consist of shares issuable on vesting of restricted stock grants computed using the treasury method and amounted to 852,000, 1,449,000 and 43,000 for fiscal 2022, 2021 and 2020, respectively. The company's potentially dilutive securities consist of shares issuable on vesting of restricted stock grants computed using the treasury method and amounted to approximately 73,000 and 56,000 for fiscal 2022 and 2021, respectively. During fiscal 2022 and 2021, the average market price of the company's common stock exceeded the exercise price of the Convertible Notes (as defined below) resulting in approximately 779,000 and 1,393,000 diluted common stock equivalents to be included in the diluted net earnings per share, respectively. There have been no material conversions to date. See Note 5, Financing Arrangements, in these Notes to the Consolidated Financial Statements for further details on the Convertible Notes. There were no anti-dilutive equity awards excluded from common stock equivalents for 2022, 2021 or 2020.

(q)Consolidated Statements of Cash Flows

Cash paid for interest was $77.2 million, $50.6 million and $65.6 million in fiscal 2022, 2021 and 2020, respectively. Cash payments totaling $114.0 million, $125.8 million, and $41.2 million were made for income taxes during fiscal 2022, 2021 and 2020, respectively.

(r)New Accounting Pronouncements

Accounting Pronouncements - Recently Adopted

On May 3, 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. This new standard provides clarification and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (such as warrants) that remain equity classified after modification or exchange. This guidance is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The company adopted this standard in the first quarter of 2022 and it did not have a material impact on its Consolidated Financial Statements and disclosures.

Accounting Pronouncements - To be adopted

In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard is effective for the company on January 2, 2022 and only impacts annual financial statement footnote disclosures. The company is currently evaluating the impacts the adoption of this guidance will have on its Consolidated Financial Statements and disclosures.

In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. The amendments also require disclosure of current-period gross write-offs by year of origination for financing receivables. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The standard should be applied prospectively, and it allows for a modified retrospective transition method resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The company is currently evaluating the impacts the adoption of this guidance will have on its Consolidated Financial Statements and disclosures.

In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. The new standard expands and clarifies the use of the portfolio layer method for fair value hedges of interest rate risk. The new standard allows non-prepayable financial assets to also be included in a closed portfolio hedged using the portfolio layer method. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The new guidance on hedging multiple layers in a closed portfolio should be applied prospectively and the guidance on the accounting for fair value basis adjustments should be applied on a modified retrospective basis. The company is currently evaluating the impacts the adoption of this guidance will have on its Consolidated Financial Statements and disclosures.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (loss)
Balance, Beginning at Dec. 28, 2019	$ 1,946,814	$ 145	$ 387,402	$ (451,262)	$ 2,361,462	$ (350,933)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	207,294	0	0	0	207,294	0
Currency translation adjustments	55,744	0	0	0	0	55,744
Change in unrecognized pension benefit costs, net of tax	(172,583)	0	0	0	0	(172,583)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(20,656)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax \| Accounting Standards Update 2017-12	(20,656)	0	0	0	0	(20,656)
Unrealized (loss) gain on certain investments, net of tax	0
Stock compensation	19,613	0	19,613	0	0	0
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	25,987	2	25,985	0	0	0
Purchase of treasury stock	(85,872)	0	0	(85,872)	0	0
Equity component of issuance of convertible notes	308	0	308	0	0	0
Balance, Ending at Jan. 02, 2021	1,976,649	147	433,308	(537,134)	2,568,756	(488,428)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	488,492	0	0	0	488,492	0
Currency translation adjustments	(47,693)	0	0	0	0	(47,693)
Change in unrecognized pension benefit costs, net of tax	151,223	0	0	0	0	151,223
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	24,484	0	0	0	0	24,484
Unrealized (loss) gain on certain investments, net of tax	1,330	0	0	0	0	1,330
Stock compensation	42,330	0	42,330	0	0	0
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	2,522	0	2,522	0	0	0
Purchase of treasury stock	(29,265)	0	0	(29,265)	0	0
Purchase of capped calls	41,421	0	41,421	0	0	0
Balance, Ending at Jan. 01, 2022	2,494,276	147	357,309	(566,399)	3,062,303	(359,084)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	436,569	0	0	0	436,569	0
Currency translation adjustments	(107,691)	0	0	0	0	(107,691)
Change in unrecognized pension benefit costs, net of tax	127,995	0	0	0	0	127,995
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	61,638	0	0	0	0	61,638
Unrealized (loss) gain on certain investments, net of tax	(1,330)	0	0	0	0	(1,330)
Stock compensation	58,368	0	58,368	0	0	0
Purchase of treasury stock	(264,777)	0	0	(264,777)	0	0
Purchase of capped calls	7,301	0	7,301	0	0	0
Balance, Ending at Dec. 31, 2022	$ 2,797,747	$ 147	$ 408,376	$ (831,176)	$ 3,498,872	$ (278,472)

Acquisitions and Purchase Accounting Estimated Fair Values of Asset Acquired and Liabilities Assumed - Novy (Details) - USD ($)		12 Months Ended
	Jul. 12, 2021	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 278,797,000	$ 963,600,000	$ 79,003,000
Goodwill		2,411,834,000	2,243,469,000	1,934,261,000
Residential Kitchen
Business Acquisition [Line Items]
Goodwill		$ 751,755,000	$ 707,667,000	$ 450,027,000
Novy
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 250,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	16,152,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	23,996,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	21,441,000
Goodwill	135,803,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	130,706,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	199,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(23,258,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(35,990,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(2,041,000)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	267,008,000
Novy \| Residential Kitchen
Business Acquisition [Line Items]
Goodwill	135,800,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	130,700,000
Novy \| Tradenames And Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	106,600,000
Novy \| Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 24,100,000
Novy \| Developed Technology Rights
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Novy \| Book and tax difference, identifiable intangible assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	$ 32,700,000
Novy \| Book and tax difference, identifiable tangible assets and liabilities
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	3,300,000
Novy \| Previously Reported
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	16,152,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	23,762,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	17,058,000
Goodwill	142,741,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	126,557,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	26,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(23,440,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(33,918,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(1,930,000)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	267,008,000
Novy \| Measurement period adjustment
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	234,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	4,383,000
Goodwill	(6,938,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	4,149,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	173,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	182,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(2,072,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(111,000)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Current assets:
Cash and cash equivalents	$ 162,001	$ 180,362
Accounts Receivable, Net, Current	631,134	577,142
Inventory, Net	1,077,729	837,418
Prepaid expenses and other	125,640	92,269
Prepaid Taxes	9,492	19,894
Total current assets	2,005,996	1,707,085
Property, Plant and Equipment, Net	443,528	380,980
Goodwill	2,411,834	2,243,469
Other intangibles	1,794,232	1,875,377
Deferred Income Tax Assets, Net	6,738	33,194
Other assets	212,538	143,493
Total Assets	6,874,866	6,383,598
Current liabilities:
Current maturities of long-term debt	45,583	27,293
Accounts payable	271,374	304,740
Accrued expenses	671,327	582,855
Total current liabilities	988,284	914,888
Long-term debt	2,676,741	2,387,001
Deferred Tax and Other Liabilities, Noncurrent	220,204	186,935
Liability, Defined Benefit Pension Plan, Noncurrent	14,948	219,680
Other non-current liabilities	176,942	180,818
Stockholders' equity:
Common Stock, Value, Issued	147	147
Paid-in capital	408,376	357,309
Treasury Stock, Value	831,176	566,399
Retained earnings	3,498,872	3,062,303
Accumulated other comprehensive loss	(278,472)	(359,084)
Total stockholders' equity	2,797,747	2,494,276
Total liabilities and stockholders' equity	$ 6,874,866	$ 6,383,598

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

Basis of PresentationThe consolidated financial statements include the accounts of the company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires the company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses as well as related disclosures. Significant items that are subject to such estimates and judgments include allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves and post-retirement obligations. On an ongoing basis, the company evaluates its estimates and assumptions based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.

Fiscal Period

Cash and Cash Equivalents

Cash and Cash EquivalentsThe company considers all short-term investments with original maturities of three months or less when acquired to be cash equivalents. The company’s policy is to invest its excess cash in interest-bearing deposits with major banks that are subject to minimal credit and market risk.

Accounts Receivable

Accounts ReceivableAccounts receivable, as shown in the consolidated balance sheets, are net of allowances for doubtful accounts of $20.3 million and $18.8 million at December 31, 2022 and January 1, 2022, respectively. At December 31, 2022, all accounts receivable are expected to be collected within one year.

Inventories

InventoriesInventories are composed of material, labor and overhead and are stated at the lower of cost or net realizable value. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization.

Property, Plant and Equipment

Following is a summary of the estimated useful lives:


Description						Life
Building and improvements						20 to 40 years
Furniture and fixtures						3 to 7 years
Machinery and equipment						3 to 10 years

Goodwill and Other Intangibles

Litigation Matters

Litigation MattersFrom time to time, the company is subject to proceedings, lawsuits and other claims related to products, suppliers, employees, customers and competitors. The company maintains insurance to partially cover product liability, workers compensation, property and casualty, and general liability matters. The company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after assessment of each matter and the related insurance coverage. The required accrual may change in the future due to new developments or changes in approach such as a change in settlement strategy in dealing with these matters. The company does not believe that any such matter will have a material adverse effect on its financial condition, results of operations or cash flows of the company.

Fair Value Measures

Level 1 – Quoted prices in active markets for identical assets or liabilities

Level 2 – Inputs, other than quoted prices in active markets, which are observable either directly or indirectly

Level 3 – Unobservable inputs based on our own assumptions

Foreign Currency

Foreign CurrencyThe income statements of the company’s foreign operations are translated at the monthly average rates. Assets and liabilities of the company’s foreign operations are translated at exchange rates at the balance sheet date. These translation adjustments are not included in determining net income for the period but are disclosed and accumulated in a separate component of stockholders’ equity. Exchange gains and losses on foreign currency transactions are included in determining net income for the period in which they occur.

Shipping and Handling Costs

Shipping and Handling CostsFees billed to the customer for shipping and handling are classified as a component of net revenues. Shipping and handling costs are included in cost of products sold.

Warranty Costs

Warranty CostsIn the normal course of business, the company issues product warranties for specific product lines and provides for the estimated future warranty cost in the period in which the sale is recorded. The estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Because warranty estimates are forecasts that are based on the best available information, claims costs may differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable.

Research and Development Costs

Research and Development CostsResearch and development costs, included in cost of sales in the consolidated statements of earnings, are charged to expense when incurred.

Non-Cash Share-Based Compensation

Non-Cash Share-Based CompensationThe company's 2021 Stock Incentive Plan (the "2021 Plan"), allows for the granting of stock options, stock appreciation rights, restricted stock and restricted stock units, performance stock, phantom units and other equity-based awards. The company estimates the fair value of restricted stock grants, restricted stock units and performance stock units at the time of grant and recognizes compensation costs over the vesting period of the grants. The expense, net of forfeitures, is recognized using the straight-line method. Non-cash share-based compensation expense is only recognized for those grants expected to vest.

Earnings Per Share

Earnings Per Share“Basic earnings per share” is calculated based upon the weighted average number of common shares actually outstanding, and “diluted earnings per share” is calculated based upon the weighted average number of common shares outstanding and other dilutive securities.

New Accounting Pronouncements

Accounting Pronouncements - Recently Adopted

Accounting Pronouncements - To be adopted

Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Accounting Policies [Abstract]
Allowance for Doubtful Accounts Receivable, Current	$ 20,295	$ 18,770

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Cash flows from operating activities--
Net earnings	$ 436,569	$ 488,492	$ 207,294
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	138,061	125,243	110,532
Amortization of Debt Issuance Costs and Discounts	0	0	7,971
Non-cash share-based compensation	58,368	42,330	19,613
Deferred income taxes	(6,642)	6,863	16,421
Net Periodic Benefit Cost, Other Components	(42,681)	(45,066)	(25,314)
Gain on sale of plant	0	(763)	(1,982)
Impairments	0	0	15,327
Non Cash Restructuring	0	1,924	0
Other Noncash Income (Expense)	(12,127)	(11,805)	0
Changes in assets and liabilities, net of acquisitions
Accounts receivable, net	(28,392)	(93,988)	90,399
Inventories, net	(196,313)	(198,264)	66,690
Prepaid expenses and other assets	(5,201)	10,853	782
Accounts payable	(47,742)	61,336	(3,015)
Accrued expenses and other liabilities	38,652	36,244	20,067
Net cash provided by operating activities	332,552	423,399	524,785
Cash flows from investing activities--
Additions to property and equipment	(67,289)	(46,551)	(34,849)
Proceeds from Sale of Property Held-for-sale	0	6,290	14,147
Payments to Acquire Intangible Assets	(2,233)	(5,000)	(7,052)
Payments to Acquire Businesses, Net of Cash Acquired	(278,797)	(963,600)	(79,003)
Net cash (used in) investing activities	(348,319)	(1,008,861)	(106,757)
Cash flows from financing activities--
Proceeds under Credit Facility	1,870,000	1,739,101	2,567,305
Repayments under Credit Facility	(1,555,250)	(1,135,058)	(3,345,770)
Proceeds from issuance of convertible notes, net of issuance costs	0	0	729,933
Payments for Premiums for Capped Call Confirmations, Debt Issuance	(9,655)	(54,553)	(104,650)
Net (repayments) proceeds under foreign bank loan	(24,470)	(2,030)	1,305
Payments of deferred purchase price	(7,930)	(5,861)	(3,700)
Repurchase of treasury stock	(264,777)	(29,265)	(85,872)
Payments of Debt Issuance Costs	0	(9,242)	(10,974)
Proceeds from (Payments for) Other Financing Activities	(287)	(303)	(45)
Net cash (used in) provided by financing activities	7,631	502,789	(252,468)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	(10,225)	(5,068)	8,043
Changes in cash and cash equivalents--
Net (decrease) increase in cash and cash equivalents	(18,361)	(87,741)	173,603
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	162,001	180,362	268,103
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Stock Issued During Period, Value, Acquisitions	$ 0	$ 2,522	$ 15,869

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income (Loss), Tax (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrecognized pension benefit costs, Tax	$ (1,995)	$ (39,470)
Unrealized loss on interest rate swap, tax	16,836	(4,501)
Unrealized gain on certain investments, Tax	$ 0	$ 433

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Feb. 27, 2023	Jul. 02, 2022
Cover [Abstract]
Document Fiscal Period Focus	FY
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	1-9973
Entity Registrant Name	THE MIDDLEBY CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3352497
Entity Address, Address Line One	1400 Toastmaster Drive,
Entity Address, City or Town	Elgin,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60120
City Area Code	(847)
Local Phone Number	741-3300
Title of 12(b) Security	Common stock,
Trading Symbol	MIDD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 6,751,760,667
Entity Common Stock, Shares Outstanding		53,609,743
Entity Central Index Key	0000769520
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Amendment Flag	false
ICFR Auditor Attestation Flag	true

Summary of Significant Accounting Policies - Research and Development Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Accounting Policies [Abstract]
Research and Development Expense	$ 48.9	$ 41.8	$ 35.3

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Jan. 01, 2022

Jan. 02, 2021

Selling, General and Administrative Expense

$ 4,032,853

$ 3,250,792

$ 2,513,257

Cost of Sales

2,586,299

2,055,932

1,631,209

Gross profit

1,446,554

1,194,860

882,048

797,234

667,976

531,897

Restructuring Charges

9,716

7,655

12,375

Merger termination fee

(110,000)

Gain on sale of plant

(763)

(1,982)

Impairments

15,327

Income from operations

^[1]

639,604

629,992

324,431

Net interest expense and deferred financing amortization, net

88,977

57,157

78,617

Net Periodic Benefit Cost, Other Than Service Cost & Curtailment

(42,681)

(45,066)

(39,996)

Curtailment loss

14,682

Other expense (income), net

28,893

(1,603)

3,071

Earnings before income taxes

564,415

619,504

268,057

Provision for income taxes

127,846

131,012

60,763

Net earnings

$ 436,569

$ 488,492

$ 207,294

Net earnings per share:

Basic (in usd per share)

$ 8.07

$ 8.85

$ 3.76

Diluted (in usd per share)

$ 7.95

$ 8.62

$ 3.76

Weighted average number of shares

Basic (in shares)

54,095,000

55,216,000

55,093,000

Dilutive common stock equivalents (in shares)

852,000

1,449,000

43,000

Diluted (in shares)

54,947,000

56,665,000

55,136,000

[1]	Restructuring expenses are included in operating income of the segment to which they pertain. See note 12 for further details

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Minimum \| Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Minimum \| Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Minimum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Maximum \| Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Maximum \| Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Maximum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years

Leases Commitments (Policies)	12 Months Ended
Leases Commitments (Policies)	Dec. 31, 2022
Leases [Abstract]
Lease commitments policy	Accounting Policy At the commencement date of a lease, the company recognizes a liability to make lease payments and an asset representing the right to use the underlying asset during the lease term. The lease liability is measured at the present value of lease payments over the lease term, including variable fees that are known or subject to a minimum floor. The lease liability includes lease component fees, while non-lease component fees are expensed as incurred for all asset classes. The company's lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. When a contract excludes an implicit rate, the company utilizes an incremental borrowing rate based on information available at the lease commencement date including lease term and geographic region. The initial valuation of the right-of-use (“ROU”) asset includes the initial measurement of the lease liability, lease payments made in advance of the lease commencement date and initial direct costs incurred by the company and excludes lease incentives. Operating lease ROU assets are included in other assets and operating lease liabilities are included in accrued expenses and other non-current liabilities. Leases with an initial term of 12 months or less are classified as short-term leases and are not recorded on the Consolidated Balance Sheets. The lease expense for short-term leases is recognized on a straight-line basis over the lease term.

Summary of Significant Accounting Policies - Rollforward of the Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 80,215	$ 69,667
Warranty reserve related to acquisitions	3,607	5,046
Warranty expense	70,774	68,199
Warranty claims paid	(72,500)	(62,697)
Ending balance	$ 82,096	$ 80,215

Common and Preferred Stock - Summary of Nonvested Restricted Share Grant Activity Under 2011 Stock Incentive Plans and Related Information (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Nonvested shares, beginning balance (shares)	180,306
Granted (shares)	4,000
Vested (shares)	(167,174)
Forfeited (shares)	(2,776)
Nonvested shares, ending balance (shares)	14,356	180,306
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Nonvested shares, beginning balance (usd per share)	$ 134.43	$ 113.31
Granted (usd per share)	188.31	181.31	$ 57.74
Vested (usd per share)	123.13
Forfeited (usd per share)	126.71
Nonvested shares, ending balance (usd per share)	$ 134.43	$ 113.31
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Nonvested shares, beginning balance (shares)	335,124
Granted (shares)	241,321
Vested (shares)	(52,211)
Forfeited (shares)	(2,779)
Nonvested shares, ending balance (shares)	521,455	335,124
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Nonvested shares, beginning balance (usd per share)	$ 157.55	$ 161.85
Granted (usd per share)	150.07	166.41	$ 134.25
Vested (usd per share)	150.36
Forfeited (usd per share)	162.08
Nonvested shares, ending balance (usd per share)	$ 157.55	$ 161.85

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 4,032,853	$ 3,250,792	$ 2,513,257
United States And Canada
Disaggregation of Revenue [Line Items]
Net sales	2,879,019	2,236,775	1,752,778
Asia
Disaggregation of Revenue [Line Items]
Net sales	264,609	233,227	189,231
Europe And Middle East
Disaggregation of Revenue [Line Items]
Net sales	768,199	687,452	508,454
Latin America
Disaggregation of Revenue [Line Items]
Net sales	121,026	93,338	62,794
Commercial Foodservice Equipment Group
Disaggregation of Revenue [Line Items]
Net sales	2,410,266	2,032,761	1,510,279
Commercial Foodservice Equipment Group \| United States And Canada
Disaggregation of Revenue [Line Items]
Net sales	1,766,257	1,435,120	1,067,872
Commercial Foodservice Equipment Group \| Asia
Disaggregation of Revenue [Line Items]
Net sales	212,193	204,432	155,742
Commercial Foodservice Equipment Group \| Europe And Middle East
Disaggregation of Revenue [Line Items]
Net sales	364,143	344,273	246,845
Commercial Foodservice Equipment Group \| Latin America
Disaggregation of Revenue [Line Items]
Net sales	67,673	48,936	39,820
Food Processing Group
Disaggregation of Revenue [Line Items]
Net sales	574,465	480,746	437,272
Food Processing Group \| United States And Canada
Disaggregation of Revenue [Line Items]
Net sales	410,853	347,280	311,042
Food Processing Group \| Asia
Disaggregation of Revenue [Line Items]
Net sales	20,295	17,641	26,778
Food Processing Group \| Europe And Middle East
Disaggregation of Revenue [Line Items]
Net sales	100,216	77,671	78,690
Food Processing Group \| Latin America
Disaggregation of Revenue [Line Items]
Net sales	43,101	38,154	20,762
Residential Kitchen
Disaggregation of Revenue [Line Items]
Net sales	1,048,122	737,285	565,706
Residential Kitchen \| United States And Canada
Disaggregation of Revenue [Line Items]
Net sales	701,909	454,375	373,864
Residential Kitchen \| Asia
Disaggregation of Revenue [Line Items]
Net sales	32,121	11,154	6,711
Residential Kitchen \| Europe And Middle East
Disaggregation of Revenue [Line Items]
Net sales	303,840	265,508	182,919
Residential Kitchen \| Latin America
Disaggregation of Revenue [Line Items]
Net sales	$ 10,252	$ 6,248	$ 2,212

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Stockholders' Equity Note [Abstract]

Segment Information Segment Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	3

Credit Facility (Details) - USD ($) $ in Thousands		12 Months Ended
Credit Facility (Details) - USD ($) $ in Thousands	Oct. 21, 2021	Dec. 31, 2022	Jan. 01, 2022	Aug. 21, 2020
Debt Disclosure [Line Items]
Maximum borrowing capacity	$ 4,500,000			$ 3,100,000
Long-term Line of Credit, Revolving Credit Facility	2,750,000
Term loan facility	1,000,000	$ 975,785	$ 993,340
Delayed draw term loan facility	$ 750,000	$ 750,000	$ 0
Term loan facility amortization rate		2.50%
Delayed draw term loan facility, amortization quarter percent	0.625%	0.625%
Long-term line of credit		$ 2,000,000
Term loan facility, gross		1,000,000
Letters of credit outstanding		1,900
Remaining borrowing capacity		$ 2,500,000
Credit facility, additional interest rate above LIBOR		1.625%
Debt Instrument Interest Additional Interest Above LIBOR Rate Alternative		0.625%
Debt Instrument Interest Additional Interest Above Fed Funds Rate		0.50%
Debt Instrument, Interest Rate, Increase (Decrease)		1.00%
Debt Instrument Interest Additional Interest Above LIBOR Rate, elevated covenants		1.625%
Line Of Credit Facility Commitment Fee Percentage, elevated covenants		0.25%
Credit facility, average interest rate		4.27%
Variable commitment fee		0.25%
Term loan facility average interest rate		4.36%
Line of credit, Current and Noncurrent, Foreign		$ 5,900
Interest rate at period end		1.13%
Derivative Notional Amount, Current		$ 233,000
Derivative Fixed Interest Rate, Current		2.13%
Derivative Notional Amount, NonCurrent		$ 850,000
Derivative Fixed Interest Rate, NonCurrent		1.73%
Debt Instrument, Interest Coverage Ratio Range, Low		300.00%
Debt Instrument, Interest Coverage Ratio Range, High		100.00%
Debt Instrument, Qualified Leverage Ratio Range, Low		375.00%
Debt Instrument, Qualified Leverage Ratio Range, High		425.00%
Debt Instrument, Leverage Ratio Range, High		100.00%
dollar amount
Debt Disclosure [Line Items]
Maximum borrowing capacity	$ 625,000
Line of Credit Facility, Potential Increase, Percentage	100.00%

Summary of Significant Accounting Policies - Consolidated Statement of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Accounting Policies [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 77.2	$ 50.6	$ 65.6
Income Taxes Paid	$ 114.0	$ 125.8	$ 41.2

Summary of Significant Accounting Policies - Property Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Jan. 01, 2022	Jan. 02, 2021
Accounting Policies [Abstract]
Land	$ 65,794	$ 54,477
Building and improvements	306,004	270,812
Furniture and fixtures	59,438	56,706
Machinery and equipment	311,864	265,188
Property, pland and equipment, gross	743,100	647,183
Less accumulated depreciation	(299,572)	(266,203)
Property, plant and equipment, net	443,528	380,980
Depreciation, Excluding Lessor Asset under Operating Lease	$ 44,200	$ 42,700	$ 39,100

Nature of Operations (Details)	12 Months Ended
Nature of Operations (Details)	Dec. 31, 2022 segment
Regulatory Assets [Line Items]
Number of operating segments	3
United States
Regulatory Assets [Line Items]
Number of manufacturing plants	41
International
Regulatory Assets [Line Items]
Number of manufacturing plants	34

Common and Preferred Stock

12 Months Ended

Dec. 31, 2022

Common and Preferred Stock

COMMON AND PREFERRED STOCK

(a) Shares Authorized

At December 31, 2022 and January 1, 2022, the company had 95,000,000 authorized shares of common stock and 2,000,000 authorized shares of non-voting preferred stock.

(b) Treasury Stock

In November 2017, the company's Board of Directors approved a stock repurchase program authorizing the company to repurchase in the aggregate up to 2,500,000 shares of its outstanding common stock. In May 2022, the company's Board of Directors approved the company to repurchase an additional 2,500,000 shares of its outstanding common stock under the current program. During 2021, the company repurchased 141,500 shares of its common stock under the program for $26.6 million, including applicable commissions, which represented an average price of $188.17. During 2022, the company repurchased 1,553,961 shares of its common stock under the program for $249.0 million, including applicable commissions, which represented an average price of $160.27. As of December 31, 2022, 2,718,626 shares had been purchased under the 2017 stock repurchase program and 2,281,374 remain authorized for repurchase.

The company also treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. During 2021, the company repurchased 15,480 shares of its common stock that were surrendered to the company for withholding taxes related to restricted stock vestings for $2.7 million. During 2022, the company repurchased 90,243 shares of its common stock that were surrendered to the company for withholding taxes related to restricted stock vestings for $15.8 million.

The company maintains an incentive plan under which the company's Board of Directors grants share-based awards to key employees. On May 10, 2021, the 2021 Stock Incentive Plan (the "2021 Plan") was approved, which included a maximum amount of 1,350,000 shares allowed to be awarded plus the shares remaining for future grants under the 2011 Stock Incentive Plan (the "2011 Plan") as of the approval date and any shares outstanding that are subsequently forfeited or expired. Thus, no further shares are available to grant under the 2011 Plan and the maximum amount of shares available for future grants under the 2021 Plan as of December 31, 2022 is 1,367,271.

Non-cash share-based compensation of $58.4 million, $42.3 million and $19.6 million was recognized for fiscal 2022, 2021 and 2020, respectively, associated with restricted share grants and restricted stock units. The company recorded a related tax benefit of $1.3 million, $0.4 million and less than $2.7 million in fiscal 2022, 2021 and 2020, respectively.

Restricted share grants:

The company has issued restricted share grant awards, which are generally time and performance based and were not subject to market conditions. The fair value of restricted share grants represents the closing share price of the company's stock as of the date of the grant and is recognized over the vesting period of the awards. The weighted average grant date fair value was $188.31, $181.31 and $57.74 per share for restricted share grants in fiscal 2022, 2021 and 2020 respectively, which represents the closing share price of the company’s stock as of the date of grant. The approximate fair value of restricted shares vested were $29.1 million, $7.3 million, $44.8 million for fiscal 2022, 2021 and 2020, respectively.

A summary of the company’s nonvested restricted share grant activity and their corresponding fair value on the date of grant for fiscal year ended December 31, 2022 is as follows:


	Shares	Weighted Average Grant-Date Fair Value






Nonvested shares at January 1, 2022	180,306	$	113.31

Granted	4,000	188.31
Vested	(167,174)	123.13
Forfeited	(2,776)	126.71

Nonvested shares at December 31, 2022	14,356	$	134.43

As of December 31, 2022, there was $0.3 million of total unrecognized compensation cost related to nonvested restricted share grant compensation arrangements, if all performance conditions are fully achieved. The remaining weighted average life is 0.5 years.

Restricted stock units:

During 2020, the company began granting restricted stock units, which entitle the holder to shares of common stock subject to time vesting and the achievement of certain market and performance goals. The fair value for time-based units are valued at the closing share price of the company’s stock as of the date of the grant and the fair value for performance units are based upon valuations using the Monte Carlo Methodology. Compensation expense is recognized over the performance measurement period of the units in accordance with ASC 718 Stock Compensation for awards with market and performance vesting conditions.

Time vesting units vest equally over two or three years and performance units vest based on achievement of certain company performance criteria over the two or three year period, as set forth in the grant agreement ranging from 0 to 200% of the target shares granted. The weighted average grant date fair value was $150.07, $166.41 and $134.25 per share for restricted stock units in fiscal 2022, 2021 and 2020, respectively. The approximate fair value of restricted stock units vested were $9.1 million for fiscal 2022.

A summary of the company’s nonvested restricted stock unit activity at target shares and their corresponding fair value on the date of grant for fiscal year ended December 31, 2022 is as follows:


	Units	Weighted Average Grant-Date Fair Value






Nonvested shares at January 1, 2022	335,124	$	161.85

Granted	241,321	150.07
Vested	(52,211)	150.36
Forfeited	(2,779)	162.08

Nonvested shares at December 31, 2022	521,455	$	157.55

As of December 31, 2022, there was $70.8 million of total unrecognized compensation cost related to nonvested restricted stock unit compensation arrangements, if all performance conditions are fully achieved. The remaining weighted average life is 1.65 years.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

Financing Arrangements - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Oct. 21, 2021
Debt Instrument [Line Items]
Senior secured revolving credit line	$ 251,805	$ 683,175
Term loan facility	975,785	993,340	$ 1,000,000
Delayed draw term loan facility	750,000	0	$ 750,000
Convertible Senior Notes	737,918	734,417
Other debt arrangement	899	1,138
Total debt	2,722,324	2,414,294
Less: Current maturities of long-term debt	45,583	27,293
Long-term debt	2,676,741	2,387,001
Foreign loans [Member]
Debt Instrument [Line Items]
Foreign loans	$ 5,917	$ 2,224

Segment Information - Long-lived assets (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Jan. 01, 2022

Jan. 02, 2021

^[1]

$ 662,804

$ 557,667

$ 547,339

United States And Canada

471,375

379,431

332,854

Asia

35,965

17,818

19,646

Europe And Middle East

142,326

152,384

188,448

Latin America

13,138

8,034

6,391

Total International