Integer (ITGR) 10-Q 8 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 03, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2020
Document Transition Report	false
Entity File Number	1-16137
Entity Registrant Name	INTEGER HOLDINGS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1531026
Entity Address, Address Line One	5830 Granite Parkway,
Entity Address, Address Line Two	Suite 1150
Entity Address, City or Town	Plano,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	214
Local Phone Number	618-5243
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	ITGR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,833,992
Entity Central Index Key	0001114483
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - Unaudited - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 37,259	$ 13,535
Accounts receivable, net of provision for credit losses of $2.2 million and allowance for doubtful accounts of $2.4 million, respectively	199,785	191,985
Inventories	170,298	167,256
Contract assets	38,882	24,767
Prepaid expenses and other current assets	14,598	17,852
Total current assets	460,822	415,395
Property, plant and equipment, net	246,378	246,185
Goodwill	839,395	839,617
Other intangible assets, net	766,535	775,784
Deferred income taxes	5,045	4,438
Operating lease assets	49,039	42,379
Other long-term assets	30,813	29,295
Total assets	2,398,027	2,353,093
Current liabilities:
Current portion of long-term debt	37,500	37,500
Accounts payable	79,138	64,975
Income taxes payable	7,564	3,023
Operating lease liabilities	7,951	7,507
Accrued expenses and other current liabilities	53,976	66,073
Total current liabilities	186,129	179,078
Long-term debt	793,829	777,272
Deferred income taxes	185,814	187,978
Operating lease liabilities	42,482	37,114
Other long-term liabilities	25,572	19,163
Total liabilities	1,233,826	1,200,605
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 32,847,017 shares issued; 32,826,005 and 32,700,471 shares outstanding, respectively	33	33
Additional paid-in capital	694,746	701,018
Treasury stock, at cost, 21,012 and 146,546 shares, respectively	(1,263)	(8,809)
Retained earnings	471,358	440,258
Accumulated other comprehensive income (loss)	(673)	19,988
Total stockholders’ equity	1,164,201	1,152,488
Total liabilities and stockholders’ equity	$ 2,398,027	$ 2,353,093

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - Unaudited (Parenthetical) - USD ($) $ in Millions	Apr. 03, 2020	Dec. 31, 2019
Current assets:
Allowance for doubtful accounts	$ 2.2	$ 2.4
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	32,847,017	32,847,017
Common stock, shares outstanding (in shares)	32,826,005	32,700,471
Treasury stock, shares (in shares)	21,012	146,546

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations- Unaudited - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Income Statement [Abstract]
Sales	$ 328,426	$ 314,676
Cost of sales	231,724	226,066
Gross profit	96,702	88,610
Operating expenses:
Selling, general and administrative expenses	36,457	34,956
Research, development and engineering costs	13,241	11,595
Other operating expenses	2,928	2,890
Total operating expenses	52,626	49,441
Operating income	44,076	39,169
Interest expense	10,361	13,830
(Gain) loss on equity investments, net	(1,925)	41
Other (income) loss, net	(999)	166
Income from continuing operations before taxes	36,639	25,132
Provision for income taxes	5,539	3,766
Income from continuing operations	31,100	21,366
Discontinued operations:
Income from discontinued operations before taxes	0	386
Provision for income taxes	0	83
Income from discontinued operations	0	303
Net income	$ 31,100	$ 21,669
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 0.95	$ 0.66
Loss from discontinued operations (in dollars per share)	0	0.01
Basic (in dollars per share)	0.95	0.67
Diluted earnings per share:
Income from continuing operations (in dollars per share)	0.94	0.65
Loss from discontinued operations (in dollars per share)	0	0.01
Diluted (in dollars per share)	$ 0.94	$ 0.66
Weighted average shares outstanding:
Basic (in shares)	32,807	32,536
Diluted (in shares)	33,117	32,980

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 31,100	$ 21,669
Other comprehensive loss:
Foreign currency translation gain	(12,032)	(6,838)
Net change in cash flow hedges, net of tax	(8,629)	(702)
Other comprehensive income	(20,661)	(7,540)
Comprehensive income	$ 10,439	$ 14,129

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Cash flows from operating activities:
Net income (loss)	$ 31,100	$ 21,669
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,494	19,658
Debt related charges included in interest expense	1,023	1,774
Stock-based compensation	1,738	2,713
Non-cash charges related to customer bankruptcy	628	0
Non-cash lease expense	1,930	1,864
Non-cash (gain) loss on equity investments	(1,925)	41
Other non-cash gains	(1,085)	(1,075)
Deferred income taxes	61	96
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(8,165)	(30,924)
Inventories	(4,365)	8,612
Prepaid expenses and other assets	(13,350)	(14,266)
Accounts payable	18,458	15,411
Accrued expenses and other liabilities	(18,108)	(15,894)
Income taxes payable	4,963	1,555
Net cash provided by operating activities	32,397	11,234
Cash flows from investing activities:
Acquisition of property, plant and equipment	(14,925)	(7,447)
Purchase of intangible asset	(3,500)	0
Proceeds from sale of property, plant and equipment	52	2
Purchase of equity investments	0	(42)
Acquisitions, net	(5,219)	0
Net cash used in investing activities	(23,592)	(7,487)
Cash flows from financing activities:
Principal payments of long-term debt	(9,375)	(30,375)
Proceeds from senior secured revolving line of credit	25,000	15,000
Proceeds from the exercise of stock options	2,201	1,338
Tax withholdings related to net share settlements of restricted stock unit awards	(2,664)	(2,123)
Net cash provided by (used in) financing activities	15,162	(16,160)
Effect of foreign currency exchange rates on cash and cash equivalents	(243)	382
Net increase (decrease) in cash and cash equivalents	23,724	(12,031)
Cash and cash equivalents, beginning of period	13,535	25,569
Cash and cash equivalents, end of period	$ 37,259	$ 13,538

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders' Equity - Unaudited - USD ($) $ in Thousands	Total	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Treasury shares purchased			$ (2,123)
Treasury shares reissued			222
Balance at Dec. 28, 2018	$ 1,060,493	$ 691,116	(8,125)	$ 344,498	$ 33,004
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21,669			21,669
Other comprehensive loss, net	(7,540)				(7,540)
Net shares issued		1,114
Stock-based compensation		2,713
Balance at Mar. 29, 2019	1,075,972	694,943	(10,026)	365,591	25,464
Treasury shares purchased			0
Treasury shares reissued			7,546
Balance at Dec. 31, 2019	1,152,488	701,051	(8,809)	440,258	19,988
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	31,100			31,100
Other comprehensive loss, net	(20,661)				(20,661)
Net shares issued		(8,010)
Stock-based compensation		1,738
Balance at Apr. 03, 2020	$ 1,164,201	$ 694,779	$ (1,263)	$ 471,358	$ (673)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Integer Holdings Corporation (together with its consolidated subsidiaries, “Integer” or the “Company”) is a publicly-traded corporation listed on the New York Stock Exchange under the symbol “ITGR.” Integer is one of the largest medical device outsource manufacturers in the world serving the cardiac, neuromodulation, vascular, orthopedics, advanced surgical and portable medical markets. The Company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition, it develops batteries for high-end niche applications in the energy, military, and environmental markets. The Company’s reportable segments are: (1) Medical and (2) Non-Medical. The Company’s customers include large multi-national original equipment manufacturers (“OEMs”) and their affiliated subsidiaries. On July 2, 2018, the Company completed the sale of the Advanced Surgical and Orthopedic product lines (the “AS&O Product Line”). The results of operations of the AS&O Product Line are reported as discontinued operations in the Condensed Consolidated Statements of Operations for all periods presented. The cash flows related to discontinued operations have not been segregated, and are included in the Condensed Consolidated Statements of Cash Flows. Unless otherwise noted specifically as discontinued operations, discussion within these notes to the Company’s condensed consolidated financial statements relates to continuing operations. See Note 16 “Discontinued Operations” for additional information related to discontinued operations. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information (Accounting Standards Codification (“ASC”) 270, Interim Reporting ) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Intercompany transactions and balances have been fully eliminated in consolidation. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, certain components of equity, sales, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ materially from these estimates. For further information, refer to the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 . The first quarter of 2020 ended on April 3 and consisted of 94 days, and the first quarter of 2019 ended on March 29 and consisted of 91 days. Certain prior year amounts have been reclassified to conform to current year’s presentation, which management does not consider to be material. Supplier Financing Arrangements In the first quarter of 2020, the Company began utilizing supplier financing arrangements with financial institutions to sell certain accounts receivable on a non-recourse basis. These transactions are treated as a sale of, and are accounted for as a reduction to, accounts receivable. The agreements transfer control and risk related to the receivables to the financial institutions. The Company has no continuing involvement in the transferred receivables subsequent to the sale. In the first quarter of 2020, the Company sold and de-recognized accounts receivable and collected cash of $15.5 million . The costs associated with the supplier financing arrangements were not material for the three months ended April 3, 2020. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standard Updates (“ASU”) issued by the Financial Accounting Standards Board ("FASB"). ASUs not yet adopted that are not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated results of operations, financial position and cash flows. With the exception of the accounting pronouncements adopted as discussed below, there have been no new or material changes to the significant accounting policies discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, that are of significance, or potential significance, to the Company. (1.) BASIS OF PRESENTATION (Continued) Recently Adopted Accounting Guidance Adoption of Accounting Standards Codification Topic 326 The Company adopted ASC 326, Financial Instruments-Credit Losses , effective January 1, 2020. Under the current expected credit losses (“CECL”) model, the Company immediately recognizes an estimate of credit losses expected to occur over the life of the financial asset at the time the financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are recognized each period. The adoption of ASC 326 did not have a material impact to the Company’s Condensed Consolidated Financial Statements. Recent Accounting Pronouncements Not Yet Effective In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting , in response to concerns about structural risks of interbank offered rates (“IBORs”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The ASU applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is evaluating the impact of ASU 2020-04 on its Condensed Consolidated Financial Statements.

Business Acquisitions

Business Acquisitions	3 Months Ended
	Apr. 03, 2020
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	BUSINESS ACQUISITIONS On February 19, 2020, the Company acquired certain assets and liabilities of InoMec Ltd. (“InoMec”), a privately-held company based in Israel that specializes in the research, development and manufacturing of medical devices, including minimally invasive tools, delivery systems, tubing and catheters, surgery tools, drug-device combination, laser combined devices, and tooling and production. The acquisition enables the Company to create a research and development center in Israel, closer to the customer base in the region. The fair value of the consideration transferred was $7.0 million , which included an initial cash payment of $5.3 million and $1.7 million in estimated fair value of contingent consideration. The contingent consideration represents the estimated fair value of the Company’s obligation, under the asset purchase agreement, to make additional payments of up to $3.5 million over the next four years based on specified conditions being met. Based on the preliminary purchase price allocation, the assets acquired principally comprise $2.0 million of intangible assets, $4.8 million of goodwill, $0.3 million of acquired property, plant and equipment, and a net liability for other working capital items of $0.1 million . Intangible assets included developed technology, customer relationships and non-compete provisions, which are being amortized over a weighted average period of 5.9 years . On October 7, 2019, the Company acquired certain assets and liabilities of US BioDesign, LLC (“USB”), a privately-held developer and manufacturer of complex braided biomedical structures for disposable and implantable medical devices. The acquisition added a differentiated capability related to the complex development and manufacture of braided and formed biomedical structures to the Company’s broad portfolio. The fair value of the consideration transferred was $19.1 million , which included a cash payment of $14.9 million , which reflects a $0.1 million favorable working capital adjustment finalized in the first quarter of 2020, and $4.2 million in estimated fair value of contingent consideration. The contingent consideration represents the estimated fair value of the Company’s obligation, under the asset purchase agreement, to make additional payments of up to $5.5 million if certain revenue goals are met through 2023. The assets acquired principally consist of $7.4 million of developed technology, $10.4 million of goodwill, $0.7 million of acquired property, plant and equipment, and $0.6 million of other working capital items. The developed technology intangible asset is being amortized over a useful life of 8 years . The $10.4 million of goodwill reflects a $0.1 million decrease resulting from the working capital adjustment. The amount allocated to goodwill for these acquisitions is deductible for income tax purposes. The fair value of the contingent consideration was estimated using the Monte Carlo valuation approach. See Note 13 “Financial Instruments and Fair Value Measurements” for additional information related to the fair value measurement of the contingent consideration. (2.) BUSINESS ACQUISITIONS (Continued) For segment reporting purposes, the results of operations and assets from these acquisitions have been included in the Company’s Medical segment since the respective acquisition dates. For the three months ended April 3, 2020, sales related to InoMec and USB were $1.4 million . Earnings related to the operations consisting of the assets and liabilities acquired from InoMec and USB for the three months ended April 3, 2020 were not material. Direct costs of these acquisitions of $0.8 million were expensed as incurred and included in Other Operating Expenses in the Condensed Consolidated Statement of Operations during the three months ended April 3, 2020. Pro forma financial information has not been presented for these acquisitions as the net effects were neither significant nor material to the Company’s results of operations or financial position.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Apr. 03, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The following is supplemental information relating to the Condensed Consolidated Statements of Cash Flows (in thousands): Three Months Ended April 3, March 29, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 4,481 $ 2,146 Purchase of intangible asset included in accrued expenses 1,000 — Supplemental lease disclosures: Operating lease assets obtained in exchange for new or remeasured operating lease liabilities 7,427 — Refer to Note 16 “Discontinued Operations” for additional supplemental cash flow information pertaining to discontinued operations.

Inventories

Inventories	3 Months Ended
	Apr. 03, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories comprise the following (in thousands): April 3, December 31, Raw materials $ 83,078 $ 79,742 Work-in-process 60,761 60,042 Finished goods 26,459 27,472 Total $ 170,298 $ 167,256

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	3 Months Ended
	Apr. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The changes in the carrying amount of goodwill by reportable segment for the three months ended April 3, 2020 were as follows (in thousands): Medical Non- Medical Total December 31, 2019 $ 822,617 $ 17,000 $ 839,617 Foreign currency translation (4,937 ) — (4,937 ) Acquisitions and related adjustments (Note 2) 4,715 — 4,715 April 3, 2020 $ 822,395 $ 17,000 $ 839,395 (5.) GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Continued) Intangible Assets Intangible assets at April 3, 2020 and December 31, 2019 were as follows (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Amount April 3, 2020 Definite-lived: Purchased technology and patents $ 252,216 $ (141,279 ) $ 110,937 Customer lists 702,422 (137,627 ) 564,795 Other 4,067 (3,552 ) 515 Total $ 958,705 $ (282,458 ) $ 676,247 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2019 Definite-lived: Purchased technology and patents $ 248,264 $ (138,435 ) $ 109,829 Customer lists 706,852 (131,185 ) 575,667 Other 3,503 (3,503 ) — Total $ 958,619 $ (273,123 ) $ 685,496 Indefinite-lived: Trademarks and tradenames $ 90,288 When acquiring certain assets, the Company assesses whether the acquired assets are a result of a business combination or a purchase of an asset. In the first quarter of 2020, the Company acquired a set of similar identifiable intangible assets relating to a license to use technology within its Non-Medical segment. The Company paid $3.5 million upon closing, and expects to pay $1.0 million in additional consideration subject to the completion of certain milestones. The $1.0 million of additional consideration is recorded within Accrued expenses and other current liabilities. The intangible asset is being amortized over 11 years , the remaining useful life of the patented technology. See Note 13 “Financial Instruments and Fair Value Measurements” for additional information related to the fair value measurement of the contingent consideration. Aggregate intangible asset amortization expense is comprised of the following (in thousands): Three Months Ended April 3, March 29, Cost of sales $ 3,269 $ 3,262 Selling, general and administrative expenses 7,175 6,592 Total intangible asset amortization expense $ 10,444 $ 9,854 Estimated future intangible asset amortization expense based on the carrying value as of April 3, 2020 is as follows (in thousands): Remainder of 2020 2021 2022 2023 2024 After 2024 Amortization Expense $ 30,296 40,399 39,383 37,984 37,051 491,134

Debt

Debt	3 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt is comprised of the following (in thousands): April 3, December 31, Senior secured term loan A $ 257,813 $ 267,188 Senior secured term loan B 558,286 558,286 Revolving line of credit 25,000 — Unamortized discount on term loan B and debt issuance costs (9,770 ) (10,702 ) Total debt 831,329 814,772 Current portion of long-term debt (37,500 ) (37,500 ) Total long-term debt $ 793,829 $ 777,272 The Company has senior secured credit facilities (the “Senior Secured Credit Facilities”) as of April 3, 2020 , consisting of (i) a $200 million revolving credit facility (the “Revolving Credit Facility”), (ii) a term loan A facility (the “TLA Facility”), and (iii) a term loan B facility (the “TLB Facility”). The TLA Facility and TLB Facility are collectively referred to as the “Term Loan Facilities.” The TLB Facility was issued at a 1% discount. Revolving Credit Facility The Revolving Credit Facility matures on October 27, 2022 . The Revolving Credit Facility includes a $15 million sublimit for swingline loans and a $25 million sublimit for standby letters of credit. The Company is required to pay a commitment fee on the unused portion of the Revolving Credit Facility, which will range between 0.175% and 0.25% , depending on the Company’s Total Net Leverage Ratio (as defined in the Senior Secured Credit Facilities agreement). As of April 3, 2020 , the commitment fee on the unused portion of the Revolving Credit Facility was 0.25% . Interest rates on the Revolving Credit Facility, as well as the TLA Facility, are at the Company’s option, either at: (i) the prime rate plus the applicable margin, which will range between 0.50% and 2.00% , based on the Company’s Total Net Leverage Ratio, or (ii) the applicable LIBOR rate plus the applicable margin, which will range between 1.50% and 3.00% , based on the Company’s Total Net Leverage Ratio. As of April 3, 2020 , the Company had available borrowing capacity on the Revolving Credit Facility of $168.3 million after giving effect to $25.0 million of outstanding borrowings and $6.7 million of outstanding standby letters of credit. As of April 3, 2020 , the weighted average interest rate on outstanding borrowings under the Revolving Credit Facility was 2.87% . Term Loan Facilities The TLA Facility and TLB Facility mature on October 27, 2022 . Interest rates on the TLB Facility are, at the Company’s option, either at: (i) the prime rate plus 1.50% or (ii) the applicable LIBOR rate plus 2.50% , with LIBOR subject to a 1.00% floor. As of April 3, 2020 , the interest rates on the TLA Facility and TLB Facility were 2.96% and 3.51% , respectively. Covenants The Revolving Credit Facility and TLA Facility contain covenants requiring (A) a maximum Total Net Leverage Ratio of 4.25 :1.00, subject to a step down of 25 basis points to 4.00 :1:00 beginning in the second quarter of 2020 and (B) a minimum interest coverage ratio of adjusted EBITDA (as defined in the Senior Secured Credit Facilities) to interest expense of not less than 3.00 :1.00. The TLB Facility does not contain any financial maintenance covenants. As of April 3, 2020 , the Company was in compliance with these financial covenants. Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2020 and the next two years (through maturity), excluding any discounts or premiums, as of April 3, 2020 are as follows (in thousands): 2020 2021 2022 Future minimum principal payments $ 28,125 37,500 775,474 The Company prepaid portions of its TLB Facility during 2019. The Company recognized losses from extinguishment of debt during the three months ended March 29, 2019 of $0.4 million . The loss from extinguishment of debt represents the portion of the unamortized discount and debt issuance costs related to the portion of the TLB Facility that was prepaid and is included in Interest Expense in the accompanying Condensed Consolidated Statements of Operations.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company maintains certain stock-based compensation plans that were approved by the Company’s stockholders and are administered by the Board of Directors, or the Compensation and Organization Committee of the Board. The stock-based compensation plans provide for the granting of stock options, restricted stock awards, restricted stock units (“RSUs”), stock appreciation rights and stock bonuses to employees, non-employee directors, consultants, and service providers. The components and classification of stock-based compensation expense were as follows (in thousands): Three Months Ended April 3, March 29, Stock options $ 13 $ 101 RSUs 1,725 2,612 Total stock-based compensation expense $ 1,738 $ 2,713 Cost of sales $ 454 $ 317 Selling, general and administrative expenses 1,136 2,330 Research, development and engineering costs 148 66 Total stock-based compensation expense $ 1,738 $ 2,713 The following table summarizes the Company’s stock option activity: Number of Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value (In Millions) Outstanding at December 31, 2019 384,013 $ 34.96 Exercised (58,658 ) 37.60 Outstanding at April 3, 2020 325,355 $ 34.48 5.0 $ 5.7 Exercisable at April 3, 2020 322,805 $ 34.40 5.0 $ 5.6 During the three months ended April 3, 2020 , the Company awarded grants to certain members of management, consisting of either time-based RSUs or a mix of time-based RSUs and performance-based RSUs (“PRSUs”). The time-based RSUs vest ratably, subject to the recipient’s continuous service to the Company over a period of generally three years from the grant date. For the Company’s PRSUs, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of financial performance or market-based conditions. The financial performance condition is based on the Company’s sales targets. The market-based conditions are based on the Company’s achievement of a relative total shareholder return (“TSR”) performance requirement, on a percentile basis, compared to a defined group of peer companies over three year performance periods. The Company uses a Monte Carlo simulation model to determine the grant-date fair value of awards with TSR-based performance conditions. The grant-date fair value of all other RSUs is equal to the closing market price of Integer common stock on the date of grant. (7.) STOCK-BASED COMPENSATION (Continued) The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows: Three Months Ended April 3, March 29, Weighted average fair value $ 107.42 $ 123.34 Risk-free interest rate 1.53 % 2.49 % Expected volatility 30 % 40 % Expected life (in years) 2.9 2.8 Expected dividend yield — % — % The following table summarizes time-vested RSU activity: Time-Vested Activity Weighted Average Grant Date Fair Value Nonvested at December 31, 2019 205,223 $ 64.75 Granted 107,030 85.58 Vested (64,334 ) 54.89 Forfeited (7,524 ) 70.37 Nonvested at April 3, 2020 240,395 $ 76.49 The following table summarizes PRSU activity: Performance- Vested Activity Weighted Average Grant Date Fair Value Nonvested at December 31, 2019 191,592 $ 56.30 Granted 66,690 95.15 Vested (35,363 ) 31.17 Forfeited (4,106 ) 51.54 Nonvested at April 3, 2020 218,813 $ 72.29

Other Operating Expenses

Other Operating Expenses	3 Months Ended
	Apr. 03, 2020
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSES	OTHER OPERATING EXPENSES Other Operating Expenses is comprised of the following (in thousands): Three Months Ended April 3, March 29, Strategic reorganization and alignment $ 548 $ 1,734 Manufacturing alignment to support growth 128 585 2020 restructuring plan 974 — Acquisition and integration expenses 356 — Other general expenses 922 571 Total other operating expenses $ 2,928 $ 2,890 (8.) OTHER OPERATING EXPENSES (Continued) Strategic reorganization and alignment As a result of the strategic review of its customers, competitors and markets, the Company began taking steps in 2017 to better align its resources in order to enhance the profitability of its portfolio of products. These initiatives include improving its business processes and redirecting investments away from projects where the market does not justify the investment, as well as aligning resources with market conditions and the Company’s future strategic direction. The Company estimates that it will incur aggregate pre-tax charges in connection with the strategic reorganization and alignment plan, including projects reported in discontinued operations, of between approximately $22 million to $ 23 million , the majority of which are expected to be cash expenditures. During the three months ended April 3, 2020 , the Company incurred charges relating to this initiative, which primarily included severance recorded within the Medical segment. As of April 3, 2020 , total expense incurred for this initiative since inception, including amounts reported in discontinued operations, was $22.9 million . These actions were substantially completed at the end of 2019. Manufacturing alignment to support growth In 2017, the Company initiated several initiatives designed to reduce costs, increase manufacturing capacity to accommodate growth and improve operating efficiencies. The plan involves the relocation of certain manufacturing operations and expansion of certain of the Company’s facilities. The Company estimates that it will incur aggregate pre-tax restructuring related charges in connection with the realignment plan of between approximately $6 million to $7 million , the majority of which are expected to be cash expenditures. Costs related to the Company’s manufacturing alignment to support growth initiative were primarily recorded within the Medical segment. As of April 3, 2020 , total expense incurred for this initiative since inception was $5.7 million . These actions were substantially completed at the end of 2019. 2020 restructuring plan The Company’s 2020 restructuring plan mainly consists of costs associated with executing on its sales force excellence, manufacturing excellence and business process excellence imperatives. These projects focus on changing the Company’s organizational structure to match product line growth strategies and customer needs, transitioning its manufacturing process into a competitive advantage and standardizing and optimizing its business processes. The Company estimates that it will incur aggregate pre-tax restructuring related charges in connection with the 2020 restructuring plan of between approximately $2 million to $3 million , the majority of which are expected to be cash expenditures. Costs related to the Company’s 2020 restructuring plan are expected to be primarily recorded within the Medical segment. As of April 3, 2020, total expense incurred for this initiative since inception was $1.0 million , which was primarily severance. These actions are expected to be substantially complete by the end of 2020. The following table summarizes the change in accrued liabilities, presented within Accrued Expense and Other Current Liabilities on the Condensed Consolidated Balance Sheets, related to the initiatives described above (in thousands): Severance and Retention Other Total December 31, 2019 $ 1,389 $ 596 $ 1,985 Restructuring charges 1,309 341 1,650 Cash payments (1,927 ) (935 ) (2,862 ) April 3, 2020 $ 771 $ 2 $ 773 Acquisition and integration expenses During the three months ended April 3, 2020 , acquisition and integration expenses included $0.9 million of expenses related to the acquisition of certain assets and liabilities of InoMec and USB, and a $0.5 million adjustment to reduce the fair value of acquisition-related contingent consideration liabilities. Acquisition and integration costs primarily include direct acquisition costs incurred which consist of professional fees and other costs. Other general expenses During the three months ended April 3, 2020 and March 29, 2019 , the Company recorded expenses related to other initiatives not described above, which relate primarily to integration and operational initiatives to reduce future operating costs and improve operational efficiencies. The 2020 and 2019 amounts primarily include systems conversion expenses and expenses related to the restructuring of certain legal entities of the Company.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including discrete items, changes in the mix and amount of pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, business reorganizations, settlements with taxing authorities and foreign currency fluctuations. In addition, the Company continues to explore tax planning opportunities that may have a material impact on its effective tax rate. The Company’s effective tax rate for continuing operations for the first quarter of 2020 was 15.1% on $36.6 million of income from continuing operations before taxes compared to 15.0% on $25.1 million of income from continuing operations before taxes for the same period in 2019 . The difference between the Company’s effective tax rates and the U.S. federal statutory income tax rate of 21% for the first quarter of 2020 and 2019 is primarily attributable to the net impact of the Global Intangible Low-Taxed Income tax, the Company’s earnings outside the U.S., which are generally taxed at rates that differ from the U.S federal rate and discrete tax benefits of $1.0 million and $1.7 million , respectively. The discrete tax benefits for both periods are predominately related to excess tax benefits recognized upon vesting of RSUs or exercise of stock options. As of April 3, 2020 and December 31, 2019 , the Company had unrecognized tax benefits from continuing operations of approximately $4.6 million and $4.4 million , respectively. It is reasonably possible that a reduction of up to $0.6 million of the balance of unrecognized tax benefits may occur within the next twelve months as a result of potential audit settlements. As of April 3, 2020 and December 31, 2019 , approximately $4.6 million and $4.4 million , respectively, of the unrecognized tax benefits would favorably impact the effective tax rate, net of federal benefit on state issues, if recognized. In response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to their income and non-income-based tax laws. The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was enacted on March 27, 2020 in the U.S., includes measures to assist companies, including temporary changes to income and non-income-based tax laws. For the three months ended April 3, 2020, there were no material tax impacts to our Condensed Consolidated Financial Statements as it relates to COVID-19 measures. We continue to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation The Company is subject to litigation arising from time to time in the ordinary course of its business. The Company does not expect that the ultimate resolution of any pending legal actions will have a material effect on its consolidated results of operations, financial position, or cash flows. However, litigation is subject to inherent uncertainties. As such, there can be no assurance that any pending legal action, which the Company currently believes to be immaterial, will not become material in the future. In April 2013, the Company commenced an action against AVX Corporation and AVX Filters Corporation (collectively “AVX”) alleging that AVX had infringed on the Company’s patents by manufacturing and selling filtered feedthrough assemblies used in implantable pacemakers and cardioverter defibrillators that incorporate the Company’s patented technology. Two juries in the U.S. District Court for the District of Delaware have returned verdicts finding that AVX infringed on three of the Company’s patents and awarded the Company $37.5 million in damages. In March 2018, the U.S. District Court for the District of Delaware vacated the original damage award and ordered a retrial on damages. In the January 2019 retrial on damages, the jury awarded the Company $22.2 million in damages. On July 31, 2019, the U.S. District Court for the District of Delaware entered an order denying AVX’s post-trial motion to overturn the jury verdict in favor of the Company. On August 23, 2019, AVX filed its notice of appeal with the United States Court of Appeals for the Federal Circuit and on September 5, 2019, the Company filed its notice of cross-appeal with the United States Court of Appeals for the Federal Circuit. Briefs by both parties have been filed, but the United States Court of Appeals for the Federal Circuit has not yet set a date for oral argument. To date, the Company has recorded no gains in connection with this litigation. Product Warranties The Company generally warrants that its products will meet customer specifications and will be free from defects in materials and workmanship. The product warranty liability is presented within Accrued Expense and Other Current Liabilities on the Condensed Consolidated Balance Sheets. The change in product warranty liability was comprised of the following (in thousands): December 31, 2019 $ 1,933 Additions to warranty reserve, net of reversals 14 Adjustments to pre-existing warranties (66 ) Warranty claims settled (997 ) April 3, 2020 $ 884

Earnings Per Share (EPS)

Earnings Per Share (EPS)	3 Months Ended
	Apr. 03, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (“EPS”) The following table sets forth a reconciliation of the information used in computing basic and diluted EPS (in thousands, except per share amounts): Three Months Ended April 3, March 29, Numerator for basic and diluted EPS: Income from continuing operations $ 31,100 $ 21,366 Income from discontinued operations — 303 Net income $ 31,100 $ 21,669 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 32,807 32,536 Dilutive effect of share-based awards 310 444 Weighted average shares outstanding - Diluted 33,117 32,980 Basic earnings per share: Income from continuing operations $ 0.95 $ 0.66 Income from discontinued operations — 0.01 Basic earnings per share 0.95 0.67 Diluted earnings per share: Income from continuing operations $ 0.94 $ 0.65 Income from discontinued operations — 0.01 Diluted earnings per share 0.94 0.66 The diluted weighted average share calculations do not include the following securities, which are not dilutive to the EPS calculations or the performance criteria have not been met (in thousands): Three Months Ended April 3, March 29, Time-vested stock options, RSAs and RSUs 101 61 Performance-vested restricted stock and PRSUs 24 45

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 03, 2020
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY The following is a summary of the number of shares of common stock issued, treasury stock and common stock outstanding for the three month periods ended April 3, 2020 and March 29, 2019 : Three Months Ended April 3, 2020 Three Months Ended March 29, 2019 Issued Treasury Stock Outstanding Issued Treasury Stock Outstanding Balance, beginning of period 32,847,017 (146,546 ) 32,700,471 32,624,494 (151,327 ) 32,473,167 Stock options exercised — 58,658 58,658 87,424 — 87,424 RSAs issued, net of forfeitures, and vesting of RSUs — 66,876 66,876 76,144 (19,494 ) 56,650 Balance, end of period 32,847,017 (21,012 ) 32,826,005 32,788,062 (170,821 ) 32,617,241 Accumulated Other Comprehensive Income (Loss) (“AOCI”) is comprised of the following (in thousands): Defined Benefit Plan Liability Cash Flow Hedges Foreign Currency Translation Adjustment Total Pre-Tax Amount Tax Net-of-Tax Amount December 31, 2019 $ (912 ) $ (2,358 ) $ 22,639 $ 19,369 $ 619 $ 19,988 Unrealized loss on cash flow hedges — (11,474 ) — (11,474 ) 2,410 (9,064 ) Realized gain on foreign currency hedges — (197 ) — (197 ) 41 (156 ) Realized loss on interest rate swap hedges — 748 — 748 (157 ) 591 Foreign currency translation loss — — (12,032 ) (12,032 ) — (12,032 ) April 3, 2020 $ (912 ) $ (13,281 ) $ 10,607 $ (3,586 ) $ 2,913 $ (673 ) December 28, 2018 $ (295 ) $ 3,439 $ 30,539 $ 33,683 $ (679 ) $ 33,004 Unrealized loss on cash flow hedges — (154 ) — (154 ) 32 (122 ) Realized gain on foreign currency hedges — (45 ) — (45 ) 9 (36 ) Realized gain on interest rate swap hedge — (689 ) — (689 ) 145 (544 ) Foreign currency translation loss — — (6,838 ) (6,838 ) — (6,838 ) March 29, 2019 $ (295 ) $ 2,551 $ 23,701 $ 25,957 $ (493 ) $ 25,464

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair value measurement standards apply to certain financial assets and liabilities that are measured at fair value on a recurring basis (each reporting period). For the Company, these financial assets and liabilities include its derivative instruments and contingent consideration. The Company does not have any nonfinancial assets or liabilities that are measured at fair value on a recurring basis. The Company is exposed to global market risks, including the effect of changes in interest rates and foreign currency exchange rates, and uses derivatives to manage these exposures that occur in the normal course of business. The Company does not hold or issue derivatives for trading or speculative purposes. All derivatives are recorded at fair value on the balance sheet. The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) April 3, 2020 Liabilities: Foreign currency contracts $ 4,574 $ — $ 4,574 $ — Liabilities: Interest rate swaps 8,707 — 8,707 — Liabilities: Contingent consideration (Note 2) 5,400 — — 5,400 Liabilities: Contingent consideration (Note 5) 1,000 — — 1,000 December 31, 2019 Assets: Foreign currency contracts $ 710 $ — $ 710 $ — Liabilities: Interest rate swaps 3,068 — 3,068 — Liabilities: Contingent consideration (Note 2) 4,200 — — 4,200 Interest Rate Swaps The Company periodically enters into interest rate swap agreements in order to reduce the cash flow risk caused by interest rate changes on its outstanding floating rate borrowings. Under these swap agreements, the Company pays a fixed rate of interest and receives a floating rate equal to one-month LIBOR. The variable rate received from the swap agreements and the variable rate paid on the outstanding debt will have the same rate of interest, excluding the credit spread, and will reset and pay interest on the same date. The Company has designated these swap agreements as cash flow hedges based on concluding the hedged forecasted transaction is probable of occurring within the period the cash flow hedge is anticipated to affect earnings. Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of April 3, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Date Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2017 Jun 2020 1.1325 % 0.9591 % $ (48 ) Accrued expenses and other current liabilities 55,000 Jul 2019 Jul 2020 1.8900 0.9591 (171 ) Accrued expenses and other current liabilities 400,000 Apr 2019 Apr 2020 2.4150 1.0051 (78 ) Accrued expenses and other current liabilities 200,000 Jun 2020 Jun 2023 2.1785 (a) (8,410 ) Other long-term liabilities __________ (a) The interest rate swap is not in effect until June 2020. (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands): Notional Amount Start Date End Date Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2017 Jun 2020 1.1325 % 1.7920 % $ 543 Accrued expenses and other current liabilities 65,000 Jul 2019 Jul 2020 1.8900 1.7920 (72 ) Accrued expenses and other current liabilities 400,000 Apr 2019 Apr 2020 2.4150 1.7101 (730 ) Accrued expenses and other current liabilities 200,000 Jun 2020 Jun 2023 2.1785 (a) (2,809 ) Other long-term liabilities __________ (a) The interest rate swap is not in effect until June 2020. Foreign Currency Contracts The Company periodically enters into foreign currency forward contracts to hedge its exposure to foreign currency exchange rate fluctuations in its international operations. The Company has designated these foreign currency forward contracts as cash flow hedges. Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of April 3, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Date $/Foreign Currency Fair Value Balance Sheet Location $ 5,583 Apr 2020 Jun 2020 0.0490 MXN Peso $ (1,013 ) Accrued expenses and other current liabilities 17,512 Apr 2020 Sep 2020 1.0945 MXN Peso (146 ) Accrued expenses and other current liabilities 15,332 Jul 2020 Dec 2020 0.0491 Euro (3,035 ) Accrued expenses and other current liabilities 6,394 Mar 2020 Dec 2020 0.0241 UYU Peso (380 ) Accrued expenses and other current liabilities Information regarding outstanding foreign currency contracts designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands): Notional Amount Start Date End Date $/Foreign Currency Fair Value Balance Sheet Location $ 11,166 Jan 2020 Jun 2020 0.0490 MXN Peso $ 710 Prepaid expenses and other current assets Contingent Consideration In periods subsequent to the initial measurement, contingent consideration liabilities are remeasured to fair value each reporting period until the contingent consideration is settled using various assumptions including estimated revenues (based on internal operational budgets and long-range strategic plans), discount rates, revenue volatility and projected payment dates. The assumptions used in the determination of fair value of contingent consideration liabilities are not observable in the market, thus representing a Level 3 measurement within the fair value hierarchy. The contingent liabilities are included in Accrued expenses and other current liabilities and Other long-term liabilities in the Condensed Consolidated Balance Sheets. Adjustments to the fair value of contingent consideration liabilities are included in Other operating expenses in the Company’s Condensed Consolidated Statements of Operations. For the three months ended April 3, 2020, the Company recorded additional business acquisition related contingent consideration liabilities totaling $1.7 million for the initial measurement of a business acquisition. For the three months ended April 3, 2020, the Company reduced the contingent consideration liability recorded for a previous acquisition by $0.5 million , due to a change in the timing of the projected future revenues, rise in the estimated revenue volatility, and increase in the discount rate used to calculate the present value of the contingent consideration liability. (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Derivative Instruments with Hedge Accounting Designation The following table presents the impact of cash flow hedge derivative instruments on other comprehensive income (“OCI”), AOCI and the Company’s Condensed Consolidated Statement of Operations for the three months ended April 3, 2020 and March 29, 2019 (in thousands): Three Months Ended April 3, 2020 March 29, 2019 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 328,426 $ (128 ) $ 314,676 $ (321 ) Cost of sales 231,724 325 226,066 366 Interest expense 10,361 (748 ) 13,830 689 The following tables present the amounts affecting the Condensed Consolidated Statements of Operations for the three months ended April 3, 2020 and March 29, 2019 (in thousands): Gain (Loss) Recognized in OCI Gain (Loss) Reclassified from AOCI Three Months Ended Location in Statement of Operations Three Months Ended April 3, March 29, April 3, March 29, Interest rate swaps $ (6,387 ) $ (448 ) Interest expense $ (748 ) $ 689 Foreign exchange contracts (274 ) (700 ) Sales (128 ) (321 ) Foreign exchange contracts (4,813 ) 994 Cost of sales 325 366 The Company expects to reclassify net losses totaling $8.3 million related to its cash flow hedges from AOCI into earnings during the next twelve months. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value standards also apply to certain assets and liabilities that are measured at fair value on a nonrecurring basis. The carrying amounts of cash, accounts receivable, accounts payable, and accrued expenses approximate fair value because of the short-term nature of these items. Borrowings under the Company’s Revolving Credit Facility, TLA Facility and TLB Facility accrue interest at a floating rate tied to a standard short-term borrowing index, selected at the Company’s option, plus an applicable margin. The carrying amount of this floating rate debt approximates fair value based upon the respective interest rates adjusting with market rate adjustments. (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Equity Investments The Company holds long-term, strategic investments in companies to promote business and strategic objectives. These investments are included in Other Long-Term Assets on the Condensed Consolidated Balance Sheets. Non-marketable equity securities are equity securities without readily determinable fair value. The Company has elected the practicability exception to use an alternative approach that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. If an impairment is recognized on the Company’s non-marketable equity securities during the period, these assets are classified as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. Equity investments are comprised of the following (in thousands): April 3, December 31, Equity method investment $ 18,092 $ 16,167 Non-marketable equity securities 6,092 6,092 Total equity investments $ 24,184 $ 22,259 The components of (Gain) Loss on Equity Investments, Net for each period were as follows (in thousands): Three Months Ended April 3, March 29, Equity method investment (income) loss $ (1,925 ) $ 41 The Company’s equity method investment is in a Chinese venture capital fund focused on investing in life sciences companies. As of April 3, 2020 , the Company owned 6.6% of this fund.

Segment Information

Segment Information	3 Months Ended
	Apr. 03, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company organizes its business into two reportable segments: (1) Medical and (2) Non-Medical. This segment structure reflects the financial information and reports used by the Company’s management, specifically its Chief Operating Decision Maker, to make decisions regarding the Company’s business, including resource allocations and performance assessments. This segment structure reflects the Company’s current operating focus in compliance with ASC 280, Segment Reporting . For purposes of segment reporting, intercompany sales between segments are not material. The following table presents sales from continuing operations by product line (in thousands). Three Months Ended April 3, March 29, Segment sales from continuing operations by product line: Medical Cardio & Vascular $ 179,205 $ 152,574 Cardiac & Neuromodulation 107,820 116,911 Advanced Surgical, Orthopedics & Portable Medical 31,237 31,588 Total Medical 318,262 301,073 Non-Medical 10,164 13,603 Total sales from continuing operations $ 328,426 $ 314,676 The following table presents income from continuing operations for the Company’s reportable segments (in thousands). Three Months Ended April 3, March 29, Segment income from continuing operations: Medical $ 65,216 $ 56,380 Non-Medical 1,213 4,311 Total segment income 66,429 60,691 Unallocated operating expenses (22,353 ) (21,522 ) Operating income 44,076 39,169 Unallocated expenses, net (7,437 ) (14,037 ) Income from continuing operations before taxes $ 36,639 $ 25,132

Revenue From Contracts With Cus

Revenue From Contracts With Customers	3 Months Ended
	Apr. 03, 2020
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregated Revenue In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of its products and customer relationships and provides meaningful disaggregation of each business segment’s results of operations. For a summary by disaggregated product line sales for each segment, refer to Note 14, “Segment Information.” Revenue recognized from products and services transferred to customers over time represented 30% and 14% , respectively, of total revenue for the three months ended April 3, 2020 and March 29, 2019 , all of which was within the Medical segment. The following table presents revenues by significant customers, which are defined as any customer who individually represents 10% or more of a segment’s total revenues. Three Months Ended April 3, 2020 March 29, 2019 Customer Medical Non-Medical Medical Non-Medical Customer A 20 % * 25 % * Customer B 18 % * 12 % * Customer C 16 % * 19 % * Customer D * 19 % * 24 % All other customers 46 % 81 % 44 % 76 % __________ * Less than 10% of segment’s total revenues for the period. The following table presents revenues by significant ship to location, which is defined as any country where 10% or more of a segment’s total revenues are shipped. Three Months Ended April 3, 2020 March 29, 2019 Ship to Location Medical Non-Medical Medical Non-Medical United States 55% 44% 56% 57% Puerto Rico 12% * 15% * United Kingdom * 15% Singapore * 14% Canada * 12% * 13% All other countries 33% 15% 29% 30% __________ * Less than 10% of segment’s total revenues for the period. Contract Balances The opening and closing balances of the Company’s contract assets and contract liabilities are as follows (in thousands): April 3, December 31, Contract liabilities included in accrued expenses and other current liabilities $ 3,155 $ 1,975 During the three months ended April 3, 2020 , the Company recognized $0.1 million of revenue that was included in the contract liability balance as of December 31, 2019. During the three months ended March 29, 2019 , the Company recognized $0.3 million of revenue that was included in the contract liability balance as of December 28, 2018.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Apr. 03, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS On July 2, 2018, the Company completed the sale of its AS&O Product Line to Viant. In connection with the sale, the parties executed a transition services agreement whereby the Company would provide certain corporate services (including accounting, payroll, and information technology services) to Viant for a period of up to one year from the date of the closing to facilitate an orderly transfer of business operations. Viant paid Integer for these services as specified in the transition services agreement, which were complete as of June 28, 2019. The Company recognized $1.7 million of income under the transition services agreement for the performance of services during the three months ended March 29, 2019 , of which $0.1 million is within Cost of sales and $1.6 million is within Selling, general and administrative expenses. The operating results of the AS&O Product Line have been classified as discontinued operations in the Condensed Consolidated Statements of Operations for all periods presented. The discontinued operations of the AS&O Product Line are reported in the Medical segment. Income from discontinued operations net of taxes, were as follows (in thousands): Three Months Ended April 3, March 29, Other income, net — (386 ) Provision for income taxes — 83 Income from discontinued operations $ — $ 303 Cash flow information from discontinued operations was as follows (in thousands): Three Months Ended April 3, March 29, Cash used in operating activities $ — $ (58 )

Recent Developments

Recent Developments	3 Months Ended
	Apr. 03, 2020
Subsequent Events [Abstract]
RECENT DEVELOPMENTS	RECENT DEVELOPMENTS Beginning in early March 2020, the global spread of the novel coronavirus (“COVID-19”), has created significant uncertainty and worldwide economic disruption. Specific impacts to the Company’s business potentially include delayed or reduced customer orders, restrictions on its associates’ ability to travel or work, delays in shipments to and from certain countries, and disruptions in its supply chain. Further, the collapse in the demand for oil caused by this unprecedented global health and economic crisis, coupled with oil oversupply, has adversely impacted the demand for products in the Company’s Non-Medical reportable segment. Considering these events and circumstances, the Company elected to bypass a qualitative analysis of its Non-Medical reporting unit’s goodwill and performed a quantitative analysis. The fair value of the Non-Medical reporting unit exceeded its carrying amount as of April 3, 2020. In response to COVID-19 and the related uncertainty, the Company is taking prudent measures to improve its liquidity and strengthen its financial position. On April 10, 2020, the Company drew a $160 million portion of its Revolving Credit Facility to protect against a prolonged pandemic coupled with financial market illiquidity. The extent to which COVID-19 impacts the Company’s operations will depend on future developments, which are highly uncertain, including, among others, the duration of the outbreak, new information that may emerge concerning the severity of COVID-19 and the actions, especially those taken by governmental authorities, to contain the pandemic or treat its impact. As events are rapidly changing, additional impacts may arise that the Company is not aware of currently. Any prolonged material disruption of the Company’s associates, suppliers, manufacturing, or customers could materially impact its consolidated financial position, results of operations or cash flows.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
Interim Basis of Accounting	For further information, refer to the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 . The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information (Accounting Standards Codification (“ASC”) 270, Interim Reporting ) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all of the information necessary for a full presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). In the opinion of management, the condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of the Company for the periods presented. Intercompany transactions and balances have been fully eliminated in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, certain components of equity, sales, expenses, and related disclosures at the date of the financial statements and during the reporting period. Actual results could differ materially from these estimates.
New Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standard Updates (“ASU”) issued by the Financial Accounting Standards Board ("FASB"). ASUs not yet adopted that are not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated results of operations, financial position and cash flows. With the exception of the accounting pronouncements adopted as discussed below, there have been no new or material changes to the significant accounting policies discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, that are of significance, or potential significance, to the Company. (1.) BASIS OF PRESENTATION (Continued) Recently Adopted Accounting Guidance Adoption of Accounting Standards Codification Topic 326 The Company adopted ASC 326, Financial Instruments-Credit Losses , effective January 1, 2020. Under the current expected credit losses (“CECL”) model, the Company immediately recognizes an estimate of credit losses expected to occur over the life of the financial asset at the time the financial asset is originated or acquired. Estimated credit losses are determined by taking into consideration historical loss conditions, current conditions and reasonable and supportable forecasts. Changes to the expected lifetime credit losses are recognized each period. The adoption of ASC 326 did not have a material impact to the Company’s Condensed Consolidated Financial Statements. Recent Accounting Pronouncements Not Yet Effective In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting , in response to concerns about structural risks of interbank offered rates (“IBORs”). ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The ASU applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in ASU 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is evaluating the impact of ASU 2020-04 on its Condensed Consolidated Financial Statements.
Income Taxes	The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. There is a potential for volatility of the effective tax rate due to several factors, including discrete items, changes in the mix and amount of pre-tax income and the jurisdictions to which it relates, changes in tax laws and foreign tax holidays, business reorganizations, settlements with taxing authorities and foreign currency fluctuations. In addition, the Company continues to explore tax planning opportunities that may have a material impact on its effective tax rate.
Cost And Equity Method Investments	The Company holds long-term, strategic investments in companies to promote business and strategic objectives. These investments are included in Other Long-Term Assets on the Condensed Consolidated Balance Sheets. Non-marketable equity securities

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Apr. 03, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following is supplemental information relating to the Condensed Consolidated Statements of Cash Flows (in thousands): Three Months Ended April 3, March 29, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 4,481 $ 2,146 Purchase of intangible asset included in accrued expenses 1,000 — Supplemental lease disclosures: Operating lease assets obtained in exchange for new or remeasured operating lease liabilities 7,427 —

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 03, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories comprise the following (in thousands): April 3, December 31, Raw materials $ 83,078 $ 79,742 Work-in-process 60,761 60,042 Finished goods 26,459 27,472 Total $ 170,298 $ 167,256

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	3 Months Ended
	Apr. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reportable segment for the three months ended April 3, 2020 were as follows (in thousands): Medical Non- Medical Total December 31, 2019 $ 822,617 $ 17,000 $ 839,617 Foreign currency translation (4,937 ) — (4,937 ) Acquisitions and related adjustments (Note 2) 4,715 — 4,715 April 3, 2020 $ 822,395 $ 17,000 $ 839,395
Schedule of Finite-Lived Intangible Assets, Major Class	Intangible assets at April 3, 2020 and December 31, 2019 were as follows (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Amount April 3, 2020 Definite-lived: Purchased technology and patents $ 252,216 $ (141,279 ) $ 110,937 Customer lists 702,422 (137,627 ) 564,795 Other 4,067 (3,552 ) 515 Total $ 958,705 $ (282,458 ) $ 676,247 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2019 Definite-lived: Purchased technology and patents $ 248,264 $ (138,435 ) $ 109,829 Customer lists 706,852 (131,185 ) 575,667 Other 3,503 (3,503 ) — Total $ 958,619 $ (273,123 ) $ 685,496 Indefinite-lived: Trademarks and tradenames $ 90,288
Schedule of Indefinite-Lived Intangible Assets	Intangible assets at April 3, 2020 and December 31, 2019 were as follows (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Amount April 3, 2020 Definite-lived: Purchased technology and patents $ 252,216 $ (141,279 ) $ 110,937 Customer lists 702,422 (137,627 ) 564,795 Other 4,067 (3,552 ) 515 Total $ 958,705 $ (282,458 ) $ 676,247 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2019 Definite-lived: Purchased technology and patents $ 248,264 $ (138,435 ) $ 109,829 Customer lists 706,852 (131,185 ) 575,667 Other 3,503 (3,503 ) — Total $ 958,619 $ (273,123 ) $ 685,496 Indefinite-lived: Trademarks and tradenames $ 90,288
Schedule of Finite-Lived Intangible Assets, Amortization Expense	Aggregate intangible asset amortization expense is comprised of the following (in thousands): Three Months Ended April 3, March 29, Cost of sales $ 3,269 $ 3,262 Selling, general and administrative expenses 7,175 6,592 Total intangible asset amortization expense $ 10,444 $ 9,854
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated future intangible asset amortization expense based on the carrying value as of April 3, 2020 is as follows (in thousands): Remainder of 2020 2021 2022 2023 2024 After 2024 Amortization Expense $ 30,296 40,399 39,383 37,984 37,051 491,134

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt is comprised of the following (in thousands): April 3, December 31, Senior secured term loan A $ 257,813 $ 267,188 Senior secured term loan B 558,286 558,286 Revolving line of credit 25,000 — Unamortized discount on term loan B and debt issuance costs (9,770 ) (10,702 ) Total debt 831,329 814,772 Current portion of long-term debt (37,500 ) (37,500 ) Total long-term debt $ 793,829 $ 777,272
Schedule of Maturities of Long-term Debt	Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2020 and the next two years (through maturity), excluding any discounts or premiums, as of April 3, 2020 are as follows (in thousands): 2020 2021 2022 Future minimum principal payments $ 28,125 37,500 775,474

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The components and classification of stock-based compensation expense were as follows (in thousands): Three Months Ended April 3, March 29, Stock options $ 13 $ 101 RSUs 1,725 2,612 Total stock-based compensation expense $ 1,738 $ 2,713 Cost of sales $ 454 $ 317 Selling, general and administrative expenses 1,136 2,330 Research, development and engineering costs 148 66 Total stock-based compensation expense $ 1,738 $ 2,713
Schedule of Share-based Compensation, Stock Options Activity	The following table summarizes the Company’s stock option activity: Number of Stock Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value (In Millions) Outstanding at December 31, 2019 384,013 $ 34.96 Exercised (58,658 ) 37.60 Outstanding at April 3, 2020 325,355 $ 34.48 5.0 $ 5.7 Exercisable at April 3, 2020 322,805 $ 34.40 5.0 $ 5.6
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows: Three Months Ended April 3, March 29, Weighted average fair value $ 107.42 $ 123.34 Risk-free interest rate 1.53 % 2.49 % Expected volatility 30 % 40 % Expected life (in years) 2.9 2.8 Expected dividend yield — % — %
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes time-vested RSU activity: Time-Vested Activity Weighted Average Grant Date Fair Value Nonvested at December 31, 2019 205,223 $ 64.75 Granted 107,030 85.58 Vested (64,334 ) 54.89 Forfeited (7,524 ) 70.37 Nonvested at April 3, 2020 240,395 $ 76.49 The following table summarizes PRSU activity: Performance- Vested Activity Weighted Average Grant Date Fair Value Nonvested at December 31, 2019 191,592 $ 56.30 Granted 66,690 95.15 Vested (35,363 ) 31.17 Forfeited (4,106 ) 51.54 Nonvested at April 3, 2020 218,813 $ 72.29

Other Operating Expenses (Table

Other Operating Expenses (Tables)	3 Months Ended
	Apr. 03, 2020
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense By Component	Other Operating Expenses is comprised of the following (in thousands): Three Months Ended April 3, March 29, Strategic reorganization and alignment $ 548 $ 1,734 Manufacturing alignment to support growth 128 585 2020 restructuring plan 974 — Acquisition and integration expenses 356 — Other general expenses 922 571 Total other operating expenses $ 2,928 $ 2,890
Schedule of Changes in Accrued Liabilities	The following table summarizes the change in accrued liabilities, presented within Accrued Expense and Other Current Liabilities on the Condensed Consolidated Balance Sheets, related to the initiatives described above (in thousands): Severance and Retention Other Total December 31, 2019 $ 1,389 $ 596 $ 1,985 Restructuring charges 1,309 341 1,650 Cash payments (1,927 ) (935 ) (2,862 ) April 3, 2020 $ 771 $ 2 $ 773

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The change in product warranty liability was comprised of the following (in thousands): December 31, 2019 $ 1,933 Additions to warranty reserve, net of reversals 14 Adjustments to pre-existing warranties (66 ) Warranty claims settled (997 ) April 3, 2020 $ 884

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	3 Months Ended
	Apr. 03, 2020
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table sets forth a reconciliation of the information used in computing basic and diluted EPS (in thousands, except per share amounts): Three Months Ended April 3, March 29, Numerator for basic and diluted EPS: Income from continuing operations $ 31,100 $ 21,366 Income from discontinued operations — 303 Net income $ 31,100 $ 21,669 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 32,807 32,536 Dilutive effect of share-based awards 310 444 Weighted average shares outstanding - Diluted 33,117 32,980 Basic earnings per share: Income from continuing operations $ 0.95 $ 0.66 Income from discontinued operations — 0.01 Basic earnings per share 0.95 0.67 Diluted earnings per share: Income from continuing operations $ 0.94 $ 0.65 Income from discontinued operations — 0.01 Diluted earnings per share 0.94 0.66
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The diluted weighted average share calculations do not include the following securities, which are not dilutive to the EPS calculations or the performance criteria have not been met (in thousands): Three Months Ended April 3, March 29, Time-vested stock options, RSAs and RSUs 101 61 Performance-vested restricted stock and PRSUs 24 45

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Apr. 03, 2020
Stockholders' Equity Note [Abstract]
Schedule of Common Stock Outstanding Roll Forward	The following is a summary of the number of shares of common stock issued, treasury stock and common stock outstanding for the three month periods ended April 3, 2020 and March 29, 2019 : Three Months Ended April 3, 2020 Three Months Ended March 29, 2019 Issued Treasury Stock Outstanding Issued Treasury Stock Outstanding Balance, beginning of period 32,847,017 (146,546 ) 32,700,471 32,624,494 (151,327 ) 32,473,167 Stock options exercised — 58,658 58,658 87,424 — 87,424 RSAs issued, net of forfeitures, and vesting of RSUs — 66,876 66,876 76,144 (19,494 ) 56,650 Balance, end of period 32,847,017 (21,012 ) 32,826,005 32,788,062 (170,821 ) 32,617,241
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) (“AOCI”) is comprised of the following (in thousands): Defined Benefit Plan Liability Cash Flow Hedges Foreign Currency Translation Adjustment Total Pre-Tax Amount Tax Net-of-Tax Amount December 31, 2019 $ (912 ) $ (2,358 ) $ 22,639 $ 19,369 $ 619 $ 19,988 Unrealized loss on cash flow hedges — (11,474 ) — (11,474 ) 2,410 (9,064 ) Realized gain on foreign currency hedges — (197 ) — (197 ) 41 (156 ) Realized loss on interest rate swap hedges — 748 — 748 (157 ) 591 Foreign currency translation loss — — (12,032 ) (12,032 ) — (12,032 ) April 3, 2020 $ (912 ) $ (13,281 ) $ 10,607 $ (3,586 ) $ 2,913 $ (673 ) December 28, 2018 $ (295 ) $ 3,439 $ 30,539 $ 33,683 $ (679 ) $ 33,004 Unrealized loss on cash flow hedges — (154 ) — (154 ) 32 (122 ) Realized gain on foreign currency hedges — (45 ) — (45 ) 9 (36 ) Realized gain on interest rate swap hedge — (689 ) — (689 ) 145 (544 ) Foreign currency translation loss — — (6,838 ) (6,838 ) — (6,838 ) March 29, 2019 $ (295 ) $ 2,551 $ 23,701 $ 25,957 $ (493 ) $ 25,464

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of April 3, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Date Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2017 Jun 2020 1.1325 % 0.9591 % $ (48 ) Accrued expenses and other current liabilities 55,000 Jul 2019 Jul 2020 1.8900 0.9591 (171 ) Accrued expenses and other current liabilities 400,000 Apr 2019 Apr 2020 2.4150 1.0051 (78 ) Accrued expenses and other current liabilities 200,000 Jun 2020 Jun 2023 2.1785 (a) (8,410 ) Other long-term liabilities __________ (a) The interest rate swap is not in effect until June 2020. (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Information regarding the Company’s outstanding interest rate swaps designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands): Notional Amount Start Date End Date Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2017 Jun 2020 1.1325 % 1.7920 % $ 543 Accrued expenses and other current liabilities 65,000 Jul 2019 Jul 2020 1.8900 1.7920 (72 ) Accrued expenses and other current liabilities 400,000 Apr 2019 Apr 2020 2.4150 1.7101 (730 ) Accrued expenses and other current liabilities 200,000 Jun 2020 Jun 2023 2.1785 (a) (2,809 ) Other long-term liabilities __________ (a) The interest rate swap is not in effect until June 2020. Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of April 3, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Date $/Foreign Currency Fair Value Balance Sheet Location $ 5,583 Apr 2020 Jun 2020 0.0490 MXN Peso $ (1,013 ) Accrued expenses and other current liabilities 17,512 Apr 2020 Sep 2020 1.0945 MXN Peso (146 ) Accrued expenses and other current liabilities 15,332 Jul 2020 Dec 2020 0.0491 Euro (3,035 ) Accrued expenses and other current liabilities 6,394 Mar 2020 Dec 2020 0.0241 UYU Peso (380 ) Accrued expenses and other current liabilities Information regarding outstanding foreign currency contracts designated as cash flow hedges as of December 31, 2019 is as follows (dollars in thousands): Notional Amount Start Date End Date $/Foreign Currency Fair Value Balance Sheet Location $ 11,166 Jan 2020 Jun 2020 0.0490 MXN Peso $ 710 Prepaid expenses and other current assets The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) April 3, 2020 Liabilities: Foreign currency contracts $ 4,574 $ — $ 4,574 $ — Liabilities: Interest rate swaps 8,707 — 8,707 — Liabilities: Contingent consideration (Note 2) 5,400 — — 5,400 Liabilities: Contingent consideration (Note 5) 1,000 — — 1,000 December 31, 2019 Assets: Foreign currency contracts $ 710 $ — $ 710 $ — Liabilities: Interest rate swaps 3,068 — 3,068 — Liabilities: Contingent consideration (Note 2) 4,200 — — 4,200
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables present the amounts affecting the Condensed Consolidated Statements of Operations for the three months ended April 3, 2020 and March 29, 2019 (in thousands): Gain (Loss) Recognized in OCI Gain (Loss) Reclassified from AOCI Three Months Ended Location in Statement of Operations Three Months Ended April 3, March 29, April 3, March 29, Interest rate swaps $ (6,387 ) $ (448 ) Interest expense $ (748 ) $ 689 Foreign exchange contracts (274 ) (700 ) Sales (128 ) (321 ) Foreign exchange contracts (4,813 ) 994 Cost of sales 325 366 The following table presents the impact of cash flow hedge derivative instruments on other comprehensive income (“OCI”), AOCI and the Company’s Condensed Consolidated Statement of Operations for the three months ended April 3, 2020 and March 29, 2019 (in thousands): Three Months Ended April 3, 2020 March 29, 2019 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 328,426 $ (128 ) $ 314,676 $ (321 ) Cost of sales 231,724 325 226,066 366 Interest expense 10,361 (748 ) 13,830 689
Equity Method Investments	Equity investments are comprised of the following (in thousands): April 3, December 31, Equity method investment $ 18,092 $ 16,167 Non-marketable equity securities 6,092 6,092 Total equity investments $ 24,184 $ 22,259 The components of (Gain) Loss on Equity Investments, Net for each period were as follows (in thousands): Three Months Ended April 3, March 29, Equity method investment (income) loss $ (1,925 ) $ 41

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 03, 2020
Segment Reconciliation [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table presents sales from continuing operations by product line (in thousands). Three Months Ended April 3, March 29, Segment sales from continuing operations by product line: Medical Cardio & Vascular $ 179,205 $ 152,574 Cardiac & Neuromodulation 107,820 116,911 Advanced Surgical, Orthopedics & Portable Medical 31,237 31,588 Total Medical 318,262 301,073 Non-Medical 10,164 13,603 Total sales from continuing operations $ 328,426 $ 314,676
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents income from continuing operations for the Company’s reportable segments (in thousands). Three Months Ended April 3, March 29, Segment income from continuing operations: Medical $ 65,216 $ 56,380 Non-Medical 1,213 4,311 Total segment income 66,429 60,691 Unallocated operating expenses (22,353 ) (21,522 ) Operating income 44,076 39,169 Unallocated expenses, net (7,437 ) (14,037 ) Income from continuing operations before taxes $ 36,639 $ 25,132

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	3 Months Ended
	Apr. 03, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The following table presents revenues by significant customers, which are defined as any customer who individually represents 10% or more of a segment’s total revenues. Three Months Ended April 3, 2020 March 29, 2019 Customer Medical Non-Medical Medical Non-Medical Customer A 20 % * 25 % * Customer B 18 % * 12 % * Customer C 16 % * 19 % * Customer D * 19 % * 24 % All other customers 46 % 81 % 44 % 76 % __________ * Less than 10% of segment’s total revenues for the period.
Schedule of Revenue by Ship To Location	The following table presents revenues by significant customers, which are defined as any customer who individually represents 10% or more of a segment’s total revenues. Three Months Ended April 3, 2020 March 29, 2019 Customer Medical Non-Medical Medical Non-Medical Customer A 20 % * 25 % * Customer B 18 % * 12 % * Customer C 16 % * 19 % * Customer D * 19 % * 24 % All other customers 46 % 81 % 44 % 76 % __________ * Less than 10% of segment’s total revenues for the period. The following table presents revenues by significant ship to location, which is defined as any country where 10% or more of a segment’s total revenues are shipped. Three Months Ended April 3, 2020 March 29, 2019 Ship to Location Medical Non-Medical Medical Non-Medical United States 55% 44% 56% 57% Puerto Rico 12% * 15% * United Kingdom * 15% Singapore * 14% Canada * 12% * 13% All other countries 33% 15% 29% 30% __________ * Less than 10% of segment’s total revenues for the period.
Schedule of Contract with Customer, Asset and Liability	April 3, December 31, Contract liabilities included in accrued expenses and other current liabilities $ 3,155 $ 1,975

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Apr. 03, 2020
Discontinued Operations and Disposal Groups [Abstract]
Summary of discontinued operations	Cash flow information from discontinued operations was as follows (in thousands): Three Months Ended April 3, March 29, Cash used in operating activities $ — $ (58 ) Three Months Ended April 3, March 29, Other income, net — (386 ) Provision for income taxes — 83 Income from discontinued operations $ — $ 303

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 03, 2020USD ($)
Accounting Policies [Abstract]
Accounts receivable sold	$ 15.5

Business Acquisitions - Acquisi

Business Acquisitions - Acquisition of Assets from InoMec Narrative (Details) - USD ($) $ in Thousands	Feb. 19, 2020	Apr. 03, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 839,395	$ 839,617
InoMec Ltd
Business Acquisition [Line Items]
Consideration transferred	$ 7,000
Payments to acquire business	5,300
Fair value of contingent consideration recognized	1,700
Contingent consideration, range of outcomes, value, high	$ 3,500
Contingent consideration payment period	4 years
Intangible assets acquired	$ 2,000
Goodwill	4,800
Property, plant and equipment acquired	300
Other working capital items acquired	$ 100
Acquired finite-lived intangible assets, weighted average useful life	5 years 10 months 24 days

Business Acquisitions - Acqui_2

Business Acquisitions - Acquisition of Assets from US BioDesign Narrative (Details) - USD ($) $ in Thousands	Oct. 07, 2019	Apr. 03, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 839,395	$ 839,617
Goodwill, working capital adjustment	$ 100
US BioDesign LLC
Business Acquisition [Line Items]
Consideration transferred	19,100
Payments to acquire business	14,900
Consideration transferred working capital adjustment		$ 100
Liabilities incurred	4,200
Contingent consideration, range of outcomes, value, high	5,500
Goodwill	10,400
Property, plant and equipment acquired	700
Other working capital items acquired	600
Technology | US BioDesign LLC
Business Acquisition [Line Items]
Finite-lived intangibles acquired	$ 7,400
Useful life of acquired intangible asset	8 years

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Business Acquisition [Line Items]
Sales	$ 328,426	$ 314,676
Acquisition related costs	900
InoMec Ltd And US BioDesign LLC
Business Acquisition [Line Items]
Sales	1,400
Acquisition related costs	$ 800

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Noncash investing and financing activities:
Property, plant and equipment purchases included in accounts payable	$ 4,481	$ 2,146
Purchase of intangible asset included in accrued expenses	1,000	0
Operating lease assets obtained in exchange for new or remeasured operating lease liabilities	$ 7,427	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 83,078	$ 79,742
Work-in-process	60,761	60,042
Finished goods	26,459	27,472
Total	$ 170,298	$ 167,256

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)
Goodwill [Roll Forward]
Opening goodwill	$ 839,617
Foreign currency translation	(4,937)
Goodwill, acquired during period	4,715
Closing goodwill	839,395
Medical
Goodwill [Roll Forward]
Opening goodwill	822,617
Foreign currency translation	(4,937)
Goodwill, acquired during period	4,715
Closing goodwill	822,395
Non-Medical
Goodwill [Roll Forward]
Opening goodwill	17,000
Foreign currency translation	0
Goodwill, acquired during period	0
Closing goodwill	$ 17,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net (Schedule of Definite-Lived and Indefinite-Lived Intangible Assets, Major Class) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 958,705	$ 958,619
Accumulated Amortization	(282,458)	(273,123)
Total estimated amortization expense	676,247	685,496
Trademarks And Tradenames
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	90,288	90,288
Purchased technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	252,216	248,264
Accumulated Amortization	(141,279)	(138,435)
Total estimated amortization expense	110,937	109,829
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	702,422	706,852
Accumulated Amortization	(137,627)	(131,185)
Total estimated amortization expense	564,795	575,667
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,067	3,503
Accumulated Amortization	(3,552)	(3,503)
Total estimated amortization expense	$ 515	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net (Narrative) (Details) - Purchased technology and patents - Non-Medical $ in Millions	3 Months Ended
	Apr. 03, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 3.5
Asset acquisition contingent consideration	$ 1
Intangible asset acquired, remaining amortization period	11 years

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 10,444	$ 9,854
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	3,269	3,262
Selling, general and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 7,175	$ 6,592

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Apr. 03, 2020USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020	$ 30,296
2021	40,399
2022	39,383
2023	37,984
2024	37,051
After 2024	$ 491,134

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Unamortized discount on term loan B and debt issuance costs	$ (9,770)	$ (10,702)
Total debt	831,329	814,772
Current portion of long-term debt	(37,500)	(37,500)
Total long-term debt	793,829	777,272
Secured Debt | Loans Payable | Term Loan A (TLA) Facility
Debt Instrument [Line Items]
Long-term debt, gross	257,813	267,188
Secured Debt | Loans Payable | Term Loan B (TLB) Facility
Debt Instrument [Line Items]
Long-term debt, gross	558,286	558,286
Secured Debt | Revolving Credit Facility | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Long-term debt, gross	$ 25,000	$ 0

Debt (Credit Facility) (Details

Debt (Credit Facility) (Details)	Oct. 27, 2015USD ($)	Jul. 03, 2020	Apr. 03, 2020USD ($)	Mar. 29, 2019USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt				$ (400,000)
Secured Debt | Revolving Credit Facility | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 200,000,000
Line of credit facility, remaining borrowing capacity			$ 168,300,000
Letters of credit outstanding, amount			$ 25,000,000
Interest rate during period			2.87%
Secured Debt | Loans Payable | Term Loan A (TLA) Facility
Debt Instrument [Line Items]
Debt weighted average interest rate			2.96%
Debt instrument, covenant compliance, maximum leverage ratio	4.25
Debt instrument, covenant compliance, adjusted EBITDA to interest expense ratio	3
Secured Debt | Loans Payable | Term Loan B (TLB) Facility
Debt Instrument [Line Items]
Debt instrument, discount, percentage	1.00%
Reduction to the variable rate basis spread			0.25%
Debt weighted average interest rate			3.51%
Secured Debt | Loans Payable | Term Loan B (TLB) Facility | Prime Rate
Debt Instrument [Line Items]
Variable rate basis spread	1.50%
Secured Debt | Loans Payable | Term Loan B (TLB) Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread	2.50%
Debt instrument, interest rate, floor	1.00%
Secured Debt | Swingline Loans | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 15,000,000
Secured Debt | Standby Letters of Credit | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 25,000,000
Secured Debt | Minimum | Revolving Credit Facility | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.175%
Secured Debt | Minimum | Revolving Credit Facility | New Revolving Credit Facility 2015 | Prime Rate
Debt Instrument [Line Items]
Variable rate basis spread	0.75%
Secured Debt | Minimum | Revolving Credit Facility | New Revolving Credit Facility 2015 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread	1.75%
Secured Debt | Minimum | Loans Payable | Term Loan A (TLA) Facility | Prime Rate
Debt Instrument [Line Items]
Variable rate basis spread			0.50%
Secured Debt | Minimum | Loans Payable | Term Loan A (TLA) Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread			1.50%
Secured Debt | Maximum | Revolving Credit Facility | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Secured Debt | Maximum | Revolving Credit Facility | New Revolving Credit Facility 2015 | Prime Rate
Debt Instrument [Line Items]
Variable rate basis spread	2.25%
Secured Debt | Maximum | Revolving Credit Facility | New Revolving Credit Facility 2015 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread	3.25%
Secured Debt | Maximum | Loans Payable | Term Loan A (TLA) Facility | Prime Rate
Debt Instrument [Line Items]
Variable rate basis spread			2.00%
Secured Debt | Maximum | Loans Payable | Term Loan A (TLA) Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread			3.00%
Standby Letters of Credit | Revolving Credit Facility | New Revolving Credit Facility 2015
Debt Instrument [Line Items]
Letters of credit outstanding, amount			$ 6,700,000
Subsequent Event | Secured Debt | Loans Payable | Term Loan A (TLA) Facility
Debt Instrument [Line Items]
Debt instrument, covenant compliance, maximum leverage ratio		4

Debt (Long-term Debt Maturity S

Debt (Long-term Debt Maturity Schedule) (Details) $ in Thousands	Apr. 03, 2020USD ($)
Debt Disclosure [Abstract]
2020	$ 28,125
2021	37,500
2022	$ 775,474

Stock-Based Compensation (Alloc

Stock-Based Compensation (Allocation of Recognized Period Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 1,738	$ 2,713
Cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	454	317
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	1,136	2,330
Research, development and engineering costs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	148	66
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	13	101
RSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 1,725	$ 2,612

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options Activity) (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 03, 2020USD ($)$ / sharesshares
Stock Option Activity (in shares)
Options Outstanding, Beginning | shares	384,013
Exercised | shares	(58,658)
Options Outstanding, Ending | shares	325,355
Options Exercisable | shares	322,805
Weighted Average Exercise Price (in dollars per share)
Options outstanding, beginning | $ / shares	$ 34.96
Exercised | $ / shares	37.60
Options outstanding, ending | $ / shares	34.48
Options exercisable | $ / shares	$ 34.40
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average remaining contractual term	5 years
Options exercisable, weighted average remaining contractual term	5 years
Options outstanding, intrinsic value | $	$ 5.7
Options exercisable, intrinsic value | $	$ 5.6

Stock-Based Compensation (Valua

Stock-Based Compensation (Valuation Assumptions) (Details) - Share-based Payment Arrangement, Option - $ / shares	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value	$ 107.42	$ 123.34
Risk-free interest rate	1.53%	2.49%
Expected volatility	30.00%	40.00%
Expected life (in years)	2 years 10 months 24 days	2 years 9 months 18 days
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock and Restricted Stock Units Activity) (Details)	3 Months Ended
	Apr. 03, 2020$ / sharesshares
Restricted Stock And Restricted Stock Units Time Based
Restricted Stock and Restricted Stock Unit Activity (in shares)
Nonvested, beginning | shares	205,223
Granted | shares	107,030
Vested | shares	(64,334)
Forfeited | shares	(7,524)
Nonvested, ending | shares	240,395
Restricted Stock and Restricted Stock Unit Weighted Average Fair Value (in dollars per share)
Nonvested, beginning | $ / shares	$ 64.75
Granted | $ / shares	85.58
Vested | $ / shares	54.89
Forfeited | $ / shares	70.37
Nonvested, ending | $ / shares	$ 76.49
Performance-based RSUs (PSUs)
Restricted Stock and Restricted Stock Unit Activity (in shares)
Nonvested, beginning | shares	191,592
Granted | shares	66,690
Vested | shares	(35,363)
Forfeited | shares	(4,106)
Nonvested, ending | shares	218,813
Restricted Stock and Restricted Stock Unit Weighted Average Fair Value (in dollars per share)
Nonvested, beginning | $ / shares	$ 56.30
Granted | $ / shares	95.15
Vested | $ / shares	31.17
Forfeited | $ / shares	51.54
Nonvested, ending | $ / shares	$ 72.29

Other Operating Expenses (Sched

Other Operating Expenses (Schedule of Other Operating Cost and Expense By Component) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Other Operating Income Expense Detail [Line Items]
Total other operating expenses	$ 2,928	$ 2,890
Strategic reorganization and alignment
Other Operating Income Expense Detail [Line Items]
Other operating expenses - continuing operations	548	1,734
Manufacturing alignment to support growth
Other Operating Income Expense Detail [Line Items]
Other operating expenses - continuing operations	128	585
2020 restructuring plan
Other Operating Income Expense Detail [Line Items]
Other operating expenses - continuing operations	974	0
Acquisition and integration expenses
Other Operating Income Expense Detail [Line Items]
Other operating expenses - continuing operations	356	0
Other general expenses
Other Operating Income Expense Detail [Line Items]
Other operating expenses - continuing operations	$ 922	$ 571

Other Operating Expenses (Narra

Other Operating Expenses (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 03, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 0.9
Change in contingent consideration liability during period	0.5
Strategic Reorganization And Alignment
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	22.9
Strategic Reorganization And Alignment | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	22
Strategic Reorganization And Alignment | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	23
Manufacturing Alignment To Support Growth
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	5.7
Manufacturing Alignment To Support Growth | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	6
Manufacturing Alignment To Support Growth | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	7
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	1
2020 Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	2
2020 Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	3
US BioDesign LLC
Restructuring Cost and Reserve [Line Items]
Change in contingent consideration liability during period	$ 0.5

Other Operating Expenses (Sch_2

Other Operating Expenses (Schedule of Restructuring Reserve By Type of Cost) (Details) - Consolidation And Optimization Initiatives $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 1,985
Restructuring charges	1,650
Cash payments	(2,862)
Ending balance	773
Severance and Retention
Restructuring Reserve [Roll Forward]
Beginning balance	1,389
Restructuring charges	1,309
Cash payments	(1,927)
Ending balance	771
Other
Restructuring Reserve [Roll Forward]
Beginning balance	596
Restructuring charges	341
Cash payments	(935)
Ending balance	$ 2

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	15.10%	15.00%
Income (loss) before provision for income taxes	$ 36,639	$ 25,132
Discrete Tax Benefits	1,000	$ 1,700
Unrecognized Tax Benefits	4,600		$ 4,400
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	600
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 4,600		$ 4,400

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details)	Jan. 14, 2019USD ($)	Jan. 26, 2016USD ($)patent	Apr. 03, 2020
Gain Contingencies [Line Items]
Gain (loss) related to litigation settlement		$ 0
Product warranty description			The Company generally warrants that its products will meet customer specifications and will be free from defects in materials and workmanship.
Positive Outcome of Litigation
Gain Contingencies [Line Items]
Gain contingency, patents found infringed | patent		3
Amount awarded from other party	$ 22,200,000	$ 37,500,000

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Product Warranty Liability) (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
beginning balance	$ 1,933
Additions to warranty reserve, net of reversals	14
Adjustments to pre-existing warranties	(66)
Warranty claims settled	(997)
Closing balance	$ 884

Earnings Per Share (EPS) (Detai

Earnings Per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Earnings Per Share [Abstract]
Income from continuing operations	$ 31,100	$ 21,366
Income from discontinued operations	0	303
Net income	$ 31,100	$ 21,669
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic (in shares)	32,807,000	32,536,000
Stock options, restricted stock and restricted stock units (in shares)	310,000	444,000
Denominator for diluted EPS (in shares)	33,117,000	32,980,000
Basic earnings per share:
Income from continuing operations (in dollars per share)	$ 0.95	$ 0.66
Loss from discontinued operations (in dollars per share)	0	0.01
Basic (in dollars per share)	0.95	0.67
Diluted earnings per share:
Income from continuing operations (in dollars per share)	0.94	0.65
Loss from discontinued operations (in dollars per share)	0	0.01
Diluted (in dollars per share)	$ 0.94	$ 0.66
Anitdilutive Securities Excluded From Earnings Per Share [Abstract]
Time-vested stock options, RSAs and RSUs	101,000	61,000
Performance-vested restricted stock and PRSUs	24,000	45,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Realized gain on foreign currency hedges	$ 197	$ 45
Balance, beginning of period (in shares)	32,847,017
Shares outstanding beginning balance (in shares)	32,700,471	32,473,167
Stock options exercised (in shares)	58,658	87,424
Balance, end of period (in shares)	32,847,017
Shares outstanding ending balance (in shares)	32,826,005	32,617,241
Common Stock
Balance, beginning of period (in shares)	32,847,017	32,624,494
Stock options exercised (in shares)	0	87,424
Balance, end of period (in shares)	32,847,017	32,788,062
Treasury Stock, Common
Balance, beginning of period (in shares)	(146,546)	(151,327)
Stock options exercised (in shares)	58,658	0
Balance, end of period (in shares)	(21,012)	(170,821)
Restricted Stock
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	66,876	56,650
Restricted Stock | Common Stock
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	0	76,144
Restricted Stock | Treasury Stock, Common
RSAs issued, net of forfeitures, and vesting of RSUs (in shares)	66,876	(19,494)

Stockholders' Equity Accumulate

Stockholders' Equity Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Defined Benefit Plan Liability
Defined benefit plan liability, beginning	$ (912)	$ (295)
Defined benefit plan liability, ending	(912)	(295)
Cash Flow Hedges
Cash flow hedges, beginning	(2,358)	3,439
Unrealized loss on cash flow hedges	(11,474)	(154)
Realized gain on foreign currency hedges	197	45
Realized gain on interest rate swap hedges	(748)	689
Cash flow hedges, ending	(13,281)	2,551
Foreign Currency Translation Adjustment
Foreign currency translation adjustment, beginning	22,639	30,539
Foreign currency translation loss	(12,032)	(6,838)
Foreign currency translation adjustment,ending	10,607	23,701
Total Pre-Tax Amount
Pre-tax amount, beginning	19,369	33,683
Unrealized loss on cash flow hedges	(11,474)	(154)
Realized gain on foreign currency hedges	197	45
Realized loss on interest rate swap hedges	(748)	689
Foreign currency translation loss	(12,032)	(6,838)
Pre-tax amount, ending	(3,586)	25,957
Tax
Tax, beginning	619	(679)
Unrealized loss on cash flow hedges	(2,410)	(32)
Realized gain on foreign currency hedges	41	9
Realized loss on interest rate swap hedges	(157)	145
Foreign currency translation loss	0	0
Tax, ending	2,913	(493)
Net-of-Tax Amount
Net of tax, beginning	19,988	33,004
Unrealized loss on cash flow hedges	(9,064)	(122)
Realized gain on foreign currency hedges	(156)	(36)
Realized gain on interest rate swap hedge	591	(544)
Foreign currency translation loss	(12,032)	(6,838)
Net of tax, ending	$ (673)	$ 25,464

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities: Contingent consideration (Note 2)	$ 1,700
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities: Foreign currency contracts	4,574
Assets: Foreign currency contracts		$ 710
Liabilities: Interest rate swaps	8,707	3,068
Liabilities: Contingent consideration (Note 2)	5,400	4,200
Liabilities: Contingent consideration (Note 5)	1,000
Fair Value, Inputs, Level 1 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities: Foreign currency contracts	0
Assets: Foreign currency contracts		0
Liabilities: Interest rate swaps	0	0
Liabilities: Contingent consideration (Note 2)	0	0
Liabilities: Contingent consideration (Note 5)	0
Fair Value, Inputs, Level 2 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities: Foreign currency contracts	4,574
Assets: Foreign currency contracts		710
Liabilities: Interest rate swaps	8,707	3,068
Liabilities: Contingent consideration (Note 2)	0	0
Liabilities: Contingent consideration (Note 5)	0
Fair Value, Inputs, Level 3 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities: Foreign currency contracts	0
Assets: Foreign currency contracts		0
Liabilities: Interest rate swaps	0	0
Liabilities: Contingent consideration (Note 2)	5,400	$ 4,200
Liabilities: Contingent consideration (Note 5)	$ 1,000

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements (Schedule of Interest Rate Swaps) (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Interest Rate Swap Maturing June 2020 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 200,000	$ 200,000
Pay Fixed Rate	1.1325%	1.1325%
Receive Current Floating Rate	0.9591%	1.792%
Fair Value	$ (48)	$ 543
Interest Rate Swap Maturing July 2020 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 55,000	$ 65,000
Pay Fixed Rate	1.89%	1.89%
Receive Current Floating Rate	0.9591%	1.792%
Fair Value	$ (171)	$ (72)
Interest Rate Swap Maturing April 2020 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 400,000	$ 400,000
Pay Fixed Rate	2.415%	2.415%
Receive Current Floating Rate	1.0051%	1.7101%
Fair Value	$ (78)	$ (730)
Interest Rate Swap Maturing June 2023 | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 200,000	$ 200,000
Pay Fixed Rate	2.1785%	2.1785%
Fair Value	$ (8,410)	$ (2,809)

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements (Schedule of Foreign Currency Contracts) (Details) - Designated as Hedging Instrument $ in Thousands	Apr. 03, 2020USD ($)$ / $$ / €$ / $	Dec. 31, 2019USD ($)$ / $
Foreign Exchange Contract Maturing June 2020 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 5,583
$/Foreign Currency | $ / $	0.0490
Fair Value	$ (1,013)
Foreign Exchange Contract Maturing June 2020 | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount		$ 11,166
$/Foreign Currency | $ / $		0.0490
Fair Value		$ 710
Foreign Exchange Contract Maturing September 2020 | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 17,512
$/Foreign Currency | $ / $	1.0945
Fair Value	$ (146)
Foreign Exchange Contract Maturing December 2020, Contract One | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 15,332
$/Foreign Currency | $ / €	0.0491
Fair Value	$ (3,035)
Foreign Exchange Contract Maturing December 2020, Contract Two | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 6,394
$/Foreign Currency | $ / $	0.0241
Fair Value	$ (380)

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements (Narrative) (Details) $ in Millions	3 Months Ended
	Apr. 03, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business acquisition contingent liability	$ 1.7
Change in contingent consideration liability during period	0.5
Derivative instruments, gain (loss) reclassified from accumulated OCI into income	$ 8.3
Chinese Venture Capital Fund
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity method investment ownership (percent)	6.60%

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements (Impact of Cash Flow Hedges on Other Comprehensive Income, AOCI and the Condensed Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Sales	$ 328,426	$ 314,676
Cost of sales	231,724	226,066
Interest expense	10,361	13,830
Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from AOCI	(748)	689
Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from AOCI	(128)	(321)
Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Reclassified from AOCI	325	366
Interest rate swap | Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(6,387)	(448)
Foreign exchange forwards | Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(274)	(700)
Foreign exchange forwards | Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	$ (4,813)	$ 994

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 03, 2020	Mar. 29, 2019	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Equity method investment	$ 18,092		$ 16,167
Non-marketable equity securities	6,092		6,092
Total equity investments	24,184		$ 22,259
Equity method investment (income) loss	$ (1,925)	$ 41

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Apr. 03, 2020Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Reconcilia

Segment Information (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	$ 328,426	$ 314,676
Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	318,262	301,073
Operating Segments | Medical | Cardio & Vascular
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	179,205	152,574
Operating Segments | Medical | Cardiac & Neuromodulation
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	107,820	116,911
Operating Segments | Medical | Advanced Surgical, Orthopedics & Portable Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	31,237	31,588
Operating Segments | Non-Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales from continuing operations	$ 10,164	$ 13,603

Segment Information (Reconcil_2

Segment Information (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Segment Reporting Information [Line Items]
Operating income	$ 44,076	$ 39,169
Unallocated expenses, net	(7,437)	(14,037)
Income from continuing operations before taxes	36,639	25,132
Operating Segments
Segment Reporting Information [Line Items]
Operating income	66,429	60,691
Operating Segments | Medical
Segment Reporting Information [Line Items]
Operating income	65,216	56,380
Operating Segments | Non-Medical
Segment Reporting Information [Line Items]
Operating income	1,213	4,311
Segment Reconciling Items
Segment Reporting Information [Line Items]
Operating income	$ (22,353)	$ (21,522)

Revenue From Contracts With C_3

Revenue From Contracts With Customers Revenue From Contracts With Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Revenue from Contract with Customer [Abstract]
Percent of revenue from contract with customer compared to total revenue	30.00%	14.00%
Revenue recognized that was included in contract liability balance at beginning of period	$ 0.1	$ 0.3

Revenue From Contracts With C_4

Revenue From Contracts With Customers (Disaggregated Revenue) (Details) - Revenue from contract with customer benchmark - Customer Concentration Risk	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Medical | Customer A
Disaggregation of Revenue [Line Items]
Concentration risk percentage	20.00%	25.00%
Medical | Customer B
Disaggregation of Revenue [Line Items]
Concentration risk percentage	18.00%	12.00%
Medical | Customer C
Disaggregation of Revenue [Line Items]
Concentration risk percentage	16.00%	19.00%
Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	46.00%	44.00%
Non-Medical | Customer D
Disaggregation of Revenue [Line Items]
Concentration risk percentage	19.00%	24.00%
Non-Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	81.00%	76.00%

Revenue From Contracts With C_5

Revenue From Contracts With Customers Schedule of Revenue by Ship To Location (Details) - Geographic Concentration Risk - Revenue from contract with customer benchmark	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Medical Segment | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	55.00%	56.00%
Medical Segment | Puerto Rico
Disaggregation of Revenue [Line Items]
Concentration risk percentage	12.00%	15.00%
Medical Segment | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	33.00%	29.00%
Non-Medical Segment | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	44.00%	57.00%
Non-Medical Segment | United Kingdom
Disaggregation of Revenue [Line Items]
Concentration risk percentage	15.00%
Non-Medical Segment | Singapore
Disaggregation of Revenue [Line Items]
Concentration risk percentage	14.00%
Non-Medical Segment | Canada
Disaggregation of Revenue [Line Items]
Concentration risk percentage	12.00%	13.00%
Non-Medical Segment | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	15.00%	30.00%

Revenue From Contracts With C_6

Revenue From Contracts With Customers Contract with Customer, Assets and Liability (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract liabilities included in accrued expenses and other current liabilities	$ 3,155	$ 1,975

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities of AS&O Business) (Details) $ in Millions	3 Months Ended
	Mar. 29, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from transition services	$ 1.7
Transition services, cost of sales	0.1
Transition services, selling, general and administrative	$ 1.6

Discontinued Operations (Loss f

Discontinued Operations (Loss from Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Provision for income taxes	$ 0	$ 83
Income from discontinued operations	0	303
AS&O Business | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other income, net	0	(386)
Provision for income taxes	0	83
Income from discontinued operations	0	303
Cash used in operating activities	$ 0	$ (58)

Recent Developments (Narrative)

Recent Developments (Narrative) (Details) $ in Millions	Apr. 10, 2020USD ($)
Subsequent Event | New Revolving Credit Facility 2015 | Revolving Credit Facility | Secured Debt
Subsequent Event [Line Items]
Line of credit facility, amount drawn	$ 160