Integer (ITGR) 10-Q 28 Oct 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Oct. 01, 2021	Oct. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 1, 2021
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 (in shares)		33,018,867
Entity Central Index Key	0001114483
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 01, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 25,472	$ 49,206
Accounts receivable, net of provision for credit losses of $0.1 million and $0.2 million, respectively	177,488	156,207
Inventories	149,235	149,323
Refundable income taxes	12,580	2,087
Contract assets	59,440	40,218
Prepaid expenses and other current assets	18,352	15,896
Total current assets	442,567	412,937
Property, plant and equipment, net	250,450	253,964
Goodwill	849,686	859,442
Other intangible assets, net	716,060	757,224
Deferred income taxes	4,364	4,398
Operating lease assets	46,871	45,153
Other long-term assets	38,132	38,739
Total assets	2,348,130	2,371,857
Current liabilities:
Current portion of long-term debt	20,250	37,500
Accounts payable	68,418	51,570
Income taxes payable	36	1,847
Operating lease liabilities	7,926	8,431
Accrued expenses and other current liabilities	59,780	56,843
Total current liabilities	156,410	156,191
Long-term debt	610,405	693,758
Deferred income taxes	180,597	182,304
Operating lease liabilities	41,382	37,861
Other long-term liabilities	27,083	30,688
Total liabilities	1,015,877	1,100,802
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 33,016,984 and 32,908,178 shares issued and outstanding, respectively	33	33
Additional paid-in capital	710,513	700,814
Retained earnings	590,535	517,516
Accumulated other comprehensive income	31,172	52,692
Total stockholders’ equity	1,332,253	1,271,055
Total liabilities and stockholders’ equity	$ 2,348,130	$ 2,371,857

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Oct. 01, 2021	Dec. 31, 2020
Current assets:
Allowance for doubtful accounts	$ 0.1	$ 0.2
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)	33,016,984	32,908,178
Common stock, shares outstanding (in shares)	33,016,984	32,908,178

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Income Statement [Abstract]
Sales	$ 305,574	$ 235,942	$ 908,064	$ 804,483
Cost of sales	223,702	178,009	652,960	591,985
Gross profit	81,872	57,933	255,104	212,498
Operating expenses:
Selling, general and administrative (Note 10)	34,269	3,609	105,150	73,969
Research, development and engineering	12,050	11,892	39,249	37,879
Other operating expenses	2,463	2,674	3,657	7,631
Total operating expenses	48,782	18,175	148,056	119,479
Operating income	33,090	39,758	107,048	93,019
Interest expense	10,053	9,368	26,117	29,002
(Gain) loss on equity investments	(152)	(2,234)	1,867	(3,954)
Other (income) loss, net	10	1,224	129	(233)
Income before taxes	23,179	31,400	78,935	68,204
Provision for income taxes	1,113	1,058	5,916	6,373
Net income	$ 22,066	$ 30,342	$ 73,019	$ 61,831
Earnings per share:
Basic (in dollars per share)	$ 0.67	$ 0.92	$ 2.21	$ 1.88
Diluted (in dollars per share)	$ 0.66	$ 0.92	$ 2.20	$ 1.87
Weighted average shares outstanding:
Basic (in shares)	33,008	32,859	32,982	32,833
Diluted (in shares)	33,309	33,076	33,250	33,107
Comprehensive Income
Net income	$ 22,066	$ 30,342	$ 73,019	$ 61,831
Other comprehensive income (loss):
Foreign currency translation gain (loss)	(7,836)	16,387	(21,716)	17,303
Change in fair value of cash flow hedges, net of tax	57	1,355	196	(5,070)
Other comprehensive income (loss), net of tax	(7,779)	17,742	(21,520)	12,233
Comprehensive income, net of tax	$ 14,287	$ 48,084	$ 51,499	$ 74,064

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Cash flows from operating activities:
Net income	$ 73,019	$ 61,831
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	60,479	59,005
Debt related charges included in interest expense	6,526	3,145
Stock-based compensation	12,235	6,229
Non-cash (gains) charges related to customer bankruptcy	(23)	562
Non-cash lease expense	5,918	5,824
Non-cash (gain) loss on equity investments	1,867	(3,954)
Contingent consideration fair value adjustment	0	(500)
Other non-cash losses	893	316
Deferred income taxes	(242)	42
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(21,638)	42,096
Inventories	(838)	10,272
Prepaid expenses and other assets	(599)	(32,736)
Contract assets	(19,528)	(14,614)
Accounts payable	16,044	(5,152)
Accrued expenses and other liabilities	(4,292)	(13,780)
Income taxes	(12,411)	(8,347)
Net cash provided by operating activities	117,410	110,239
Cash flows from investing activities:
Acquisition of property, plant and equipment	(29,711)	(35,182)
Purchase of intangible asset	0	(4,607)
Proceeds from sale of property, plant and equipment	81	76
Acquisitions, net	0	(5,219)
Net cash used in investing activities	(29,630)	(44,932)
Cash flows from financing activities:
Principal payments of term loans	(737,973)	(28,125)
Proceeds from issuance of term loans	598,250	0
Proceeds from revolving credit facility	82,300	185,000
Payments of revolving credit facility	(45,000)	(135,000)
Proceeds from the exercise of stock options	594	3,123
Payment of debt issuance costs	(5,436)	(431)
Tax withholdings related to net share settlements of restricted stock unit awards	(3,130)	(2,869)
Contingent consideration payments	(1,621)	0
Principal payments on finance leases	(51)	0
Net cash (used in) provided by financing activities	(112,067)	21,698
Effect of foreign currency exchange rates on cash and cash equivalents	553	(597)
Net increase (decrease) in cash and cash equivalents	(23,734)	86,408
Cash and cash equivalents, beginning of period	49,206	13,535
Cash and cash equivalents, end of period	$ 25,472	$ 99,943

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock and additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive income
Balance, beginning of period at Dec. 31, 2019	$ 1,152,488	$ 701,051	$ (8,809)	$ 440,258	$ 19,988
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(8,593)
Stock-based compensation		6,229
Treasury shares reissued			8,809
Net income	61,831			61,831
Other comprehensive income (loss)	12,233				12,233
Balance, ending balance at Oct. 02, 2020	1,232,997	698,687	0	502,089	32,221
Balance, beginning of period at Jul. 03, 2020	1,181,401	695,684	(509)	471,747	14,479
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		16
Stock-based compensation		2,987
Treasury shares reissued			509
Net income	30,342			30,342
Other comprehensive income (loss)	17,742				17,742
Balance, ending balance at Oct. 02, 2020	1,232,997	698,687	0	502,089	32,221
Balance, beginning of period at Dec. 31, 2020	1,271,055	700,847	0	517,516	52,692
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(2,536)
Stock-based compensation		12,235
Treasury shares reissued			0
Net income	73,019			73,019
Other comprehensive income (loss)	(21,520)				(21,520)
Balance, ending balance at Oct. 01, 2021	1,332,253	710,546	0	590,535	31,172
Balance, beginning of period at Jul. 02, 2021	1,314,572	707,152	0	568,469	38,951
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		112
Stock-based compensation		3,282
Treasury shares reissued			0
Net income	22,066			22,066
Other comprehensive income (loss)	(7,779)				(7,779)
Balance, ending balance at Oct. 01, 2021	$ 1,332,253	$ 710,546	$ 0	$ 590,535	$ 31,172

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 01, 2021
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. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) 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 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, 2020. The third quarter and first nine months of 2021 ended on October 1 and consisted of 91 days and 274 days, respectively. The third quarter and first nine months of 2020 ended on October 2 and consisted of 91 days and 276 days, respectively. Risks and Uncertainties Beginning in early March 2020, the global spread of the novel coronavirus (“COVID-19”) created significant uncertainty and worldwide economic disruption. Specific impacts to the Company’s business include labor shortages, disruptions in the supply chain, delayed or reduced customer orders and sales, restrictions on associates’ ability to travel or work, and delays in shipments to and from certain countries. The extent to which COVID-19 will continue to impact the Company’s operations depends on future developments, which remain highly uncertain and difficult to predict, including, among others, the duration of the outbreak, the effectiveness and utilization of vaccines for COVID-19 and its variants, 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 pandemic-related events continue to evolve, additional impacts may arise that the Company is not aware of currently. Any prolonged material disruption of the Company’s labor force, suppliers, manufacturing, or customers could materially impact its consolidated financial position, results of operations or cash flows. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standard Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). The Company evaluated all recent accounting pronouncements issued, including those that are currently effective, and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company. 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, 2020, that are of significance, or potential significance, to the Company.

Business Acquisition

Business Acquisition	9 Months Ended
	Oct. 01, 2021
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITION	BUSINESS ACQUISITION 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 four years following the acquisition based on specified conditions being met. Based on the final 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 from the date of acquisition. The amount allocated to goodwill for this acquisition 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. For segment reporting purposes, the results of operations and assets from this acquisition have been included in the Company’s Medical segment since the acquisition date. Sales and earnings related to the operations consisting of the assets and liabilities acquired from InoMec for the three and nine months ended October 1, 2021 and October 2, 2020 were not material. There were no direct costs incurred for this acquisition during 2021. During the three and nine months ended October 2, 2020, direct costs of this acquisition of $0.1 million and $0.9 million, respectively, were expensed as incurred and included in Other operating expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income. Pro forma financial information has not been presented for this acquisition as the net effects were not significant or material to the Company’s results of operations or financial position.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Oct. 01, 2021
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): Nine Months Ended October 1, October 2, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 4,311 $ 3,756 Debt issuance costs incurred but not yet paid 1,713 — Supplemental lease disclosures: Operating lease assets obtained in exchange for new or remeasured operating 7,772 8,139

Inventories

Inventories	9 Months Ended
	Oct. 01, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories comprise the following (in thousands): October 1, December 31, Raw materials $ 65,108 $ 72,477 Work-in-process 73,556 58,806 Finished goods 10,571 18,040 Total $ 149,235 $ 149,323

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	9 Months Ended
	Oct. 01, 2021
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 nine months ended October 1, 2021 were as follows (in thousands): Medical Non- Medical Total December 31, 2020 $ 842,442 $ 17,000 $ 859,442 Foreign currency translation (9,756) — (9,756) October 1, 2021 $ 832,686 $ 17,000 $ 849,686 Intangible Assets Intangible assets comprise the following (in thousands): Gross Accumulated Net October 1, 2021 Definite-lived: Purchased technology and patents $ 254,924 $ (161,375) $ 93,549 Customer lists 713,126 (181,009) 532,117 Other 4,140 (4,034) 106 Total amortizing intangible assets $ 972,190 $ (346,418) $ 625,772 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2020 Definite-lived: Purchased technology and patents $ 257,453 $ (152,798) $ 104,655 Customer lists 723,791 (161,856) 561,935 Other 4,142 (3,796) 346 Total amortizing intangible assets $ 985,386 $ (318,450) $ 666,936 Indefinite-lived: Trademarks and tradenames $ 90,288 Aggregate intangible asset amortization expense comprises the following (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Cost of sales $ 3,216 $ 3,219 $ 9,717 $ 9,660 Selling, general and administrative expenses 7,068 7,080 21,356 21,234 Total intangible asset amortization expense $ 10,284 $ 10,299 $ 31,073 $ 30,894 Estimated future intangible asset amortization expense based on the carrying value as of October 1, 2021 is as follows (in thousands): Remainder of 2021 2022 2023 2024 2025 After 2025 Amortization Expense $ 10,240 40,010 38,595 37,646 36,336 462,945

Debt

Debt	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt related to the 2021 Credit Agreement and 2015 Credit Agreement (each as defined below) as of October 1, 2021 and December 31, 2020, respectively, comprises the following (in thousands): October 1, December 31, Senior secured term loan A $ 250,000 $ 229,687 Senior secured term loan B 350,000 508,286 Senior secured revolving credit facility 37,300 — Unamortized discount on term loan B and debt issuance costs (6,645) (6,715) Total debt 630,655 731,258 Current portion of long-term debt (20,250) (37,500) Total long-term debt $ 610,405 $ 693,758 On September 2, 2021, the Company entered into a new credit agreement (the “2021 Credit Agreement”) which permits borrowings and other extensions of credit in an initial aggregate principal amount of up to $1 billion (as may be increased from time to time in accordance with the terms). The 2021 Credit Agreement governs the Company’s senior secured credit facilities (the “Senior Secured Credit Facilities”), which consist of a five-year $400 million revolving credit facility (the “Revolving Credit Facility”), a five-year “term A” loan (the “TLA Facility”) and a seven-year “term B” loan (the “TLB Facility” and, together with the TLA Facility, the “Term Loan Facilities”). The TLB Facility was issued at a 0.50% discount. The 2021 Credit Agreement also includes an alternative benchmark rate as a replacement to the London Interbank Offered Rate (“LIBOR”) in the event LIBOR is no longer available. The obligations under the 2021 Credit Agreement are guaranteed by certain specified subsidiaries of the Company. Among other things, the 2021 Credit Agreement contains covenants that restrict the Company’s and certain of its subsidiaries’ ability to incur liens on certain assets, incur indebtedness, make material changes in corporate structure or materially alter the nature of its business, dispose of material assets, engage in mergers, consolidations and certain other fundamental changes, or engage in certain transactions with affiliates. The 2021 Credit Agreement contains customary default provisions, including, but not limited to, failure to pay interest or principal when due and failure to comply with covenants. Prior to September 2, 2021, the Company was party to an amended and restated credit agreement (the “2015 Credit Agreement”), dated as of October 27, 2015. The 2015 Credit Agreement provided for certain credit facilities to the Company in an aggregate principal amount not to initially exceed $1.6 billion. The 2015 Credit Agreement was terminated concurrently with entering into the 2021 Credit Agreement. Revolving Credit Facility The Revolving Credit Facility matures on September 2, 2026 and includes $40 million sublimits for swingline loans and for standby letters of credit. As of October 1, 2021, the Company had available borrowing capacity on the Revolving Credit Facility of $357.0 million after giving effect to $37.3 million of outstanding borrowings and $5.7 million of outstanding standby letters of credit. Interest rates on the Revolving Credit Facility, as well as the TLA Facility, are at the Company’s option, either at: (i) the applicable LIBOR (or an applicable benchmark replacement) plus the applicable margin, which will range between 1.25% and 2.25%, based on the Company’s Total Net Leverage Ratio, or (ii) the Base Rate (as defined below) plus the applicable margin, which will range between 0.25% and 1.25%, based on the Company’s Total Net Leverage Ratio. The Base Rate is defined, for any day, as the per annum rate equal to the highest of (i) the prime rate (as defined in the 2021 Credit Agreement), (ii) the Federal Funds Rate, as published by the Federal Reserve Bank of New York, plus 0.50%, and (iii) one-month LIBOR plus 1.00%. As of October 1, 2021, the weighted average interest rate on outstanding borrowings under the Revolving Credit Facility was 1.83%. The Company is required to pay a commitment fee on the unused portion of the Revolving Credit Facility, which will range between 0.15% and 0.25%, depending on the Company’s Total Net Leverage Ratio (as defined in the 2021 Credit Agreement). As of October 1, 2021, the commitment fee on the unused portion of the Revolving Credit Facility was 0.20%. (6.) DEBT (Continued) Term Loan Facilities The TLA Facility and TLB Facility mature on September 2, 2026 and September 2, 2028, respectively, and require quarterly installments which increase over the term of the loans. Interest rates on the TLB Facility are, at the Company’s option, either at: (i) the applicable LIBOR rate plus 2.50%, with LIBOR subject to a 0.50% floor, or (ii) the Base Rate plus 1.50%. As of October 1, 2021, the interest rates on the TLA Facility and TLB Facility were 1.83% and 3.00%, respectively. Covenants The 2021 Credit Agreement contains customary terms and conditions, including representations and warranties and affirmative and negative covenants, as well as financial covenants for the benefit of the lenders under the Revolving Credit Facility and the TLA Facility, which require that (i) the Company maintain a Total Net Leverage Ratio not to exceed 5.50:1.00 (stepping down to 5.00:1.00 for the third fiscal quarter of 2023 through maturity and subject to increase in certain circumstances following qualified acquisitions, but at no time shall exceed 5.50:1.00) and (ii) the Company maintain an interest coverage ratio of at least 2.50:1.00. The TLB Facility does not contain any financial maintenance covenants. As of October 1, 2021, the Company was in compliance with these financial covenants. Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2021 and through maturity, excluding any discounts or premiums, as of October 1, 2021 are as follows (in thousands): 2021 2022 2023 2024 2025 After 2025 Future minimum principal payments $ 5,063 20,250 21,812 28,063 32,750 529,362 Debt Issuance Costs and Discounts In connection with terminating the 2015 Credit Agreement and entering into the 2021 Credit Agreement, for each separate debt instrument on a lender by lender basis, in accordance with ASC 470-50, Debt Modifications and Extinguishment , the Company performed an assessment of whether the transaction was deemed to be new debt, a modification of existing debt, or an extinguishment of existing debt. Debt issuance costs are either deferred and amortized over the term of the associated debt or expensed as incurred. Based on this assessment, $1.2 million of unamortized debt issuance costs and discount related to the 2015 Credit Agreement were deemed to be related to the issuance of new debt, or the modification of existing debt, and therefore will continue to be deferred and amortized over the term of the associated debt. The remaining $3.3 million of unamortized debt issuance costs and discount related to the 2015 Credit Agreement were deemed to be related to the extinguishment of debt and were expensed and included in Interest Expense in the accompanying Consolidated Statements of Operations and Comprehensive Income. Additionally, during the nine month period ended October 1, 2021 , in connection with prepayments on TLB Facility under the 2015 Credit Agreement, $0.5 million of unamortized debt issuance costs and discount were treated as extinguishment of debt and were expensed and included in Interest Expense in the accompanying Consolidated Statements of Operations and Comprehensive Income. In connection with the 2021 Credit Agreement, the Company incurred and capitalized $8.8 million of issuance costs, including an original issue discount on the TLB Facility of $1.8 million. An aggregate of $6.0 million of original issue discount and debt issuance costs have been recorded as a reduction of the carrying value of the related debt and $2.8 million of debt issuance costs attributable to the Revolving Credit Facility have been recorded as a component of Other assets on the Condensed Consolidated Balance Sheets as of October 1, 2021.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 01, 2021
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 (the “Board”) 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. On March 25, 2021, the Company’s Board adopted, subject to stockholder approval, the Integer Holdings Corporation 2021 Omnibus Incentive Plan (the “2021 Plan”). The Company’s stockholders approved the 2021 Plan at the Company’s 2021 annual meeting of stockholders on May 19, 2021, at which time the 2021 Plan replaced the Company’s 2016 Stock Incentive Plan (the “2016 Plan”) and the Company ceased granting any new awards under the 2016 Plan. The number of shares initially reserved for issuance under the 2021 Plan is (i) 1,450,000 plus (ii) the total number of shares of common stock available for issuance under the 2016 Plan, plus (iii) any shares of common stock that are subject to awards forfeited, cancelled, expired, terminated or otherwise lapsed or settled in cash, in whole or in part, without the delivery of shares under the 2016 Plan. Each of the Company’s 2011 Stock Incentive Plan, the 2009 Stock Incentive Plan and the 2005 Stock Incentive Plan have expired, and no awards are available for issuance under these expired plans. The components and classification of stock-based compensation expense were as follows (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Stock options $ — $ 10 $ — $ 33 RSUs 3,282 2,977 12,235 6,196 Total stock-based compensation expense $ 3,282 $ 2,987 $ 12,235 $ 6,229 Cost of sales $ 649 $ 530 $ 2,586 $ 1,214 Selling, general and administrative 2,177 2,319 8,747 4,608 Research, development and engineering 302 138 748 407 Other operating expenses 154 — 154 — Total stock-based compensation expense $ 3,282 $ 2,987 $ 12,235 $ 6,229 Stock Options The following table summarizes the Company’s stock option activity for the nine month period ended October 1, 2021: Number of Weighted Weighted Aggregate Outstanding at December 31, 2020 281,873 $ 36.05 Exercised (27,002) 22.01 Outstanding and exercisable at October 1, 2021 254,871 $ 37.53 4.3 $ 13.9 (7.) STOCK-BASED COMPENSATION (Continued) Restricted Stock Units During the nine months ended October 1, 2021, the Company awarded grants of either time-based RSUs or a mix of time-based RSUs and performance-based RSUs (“PRSUs”) to certain members of its Board and management. New Board members appointed during the first quarter of 2021 received a pro-rated portion of the their annual equity retainer in the form of time-based RSUs that vest in accordance with the regularly scheduled vesting schedule applicable to existing members of the Board. All other time-based RSUs granted during the nine months ended October 1, 2021 vest over a period of three years from the grant date, subject to the recipient’s continuous service to the Company. For the Company’s PRSUs, in addition to service conditions, the ultimate number of shares to be earned depends on the achievement of market-based conditions. 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. The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows: Nine Months Ended October 1, October 2, Weighted average fair value $ 85.16 $ 107.42 Risk-free interest rate 0.19 % 1.53 % Expected volatility 41 % 30 % Expected life (in years) 3.0 2.9 Expected dividend yield — % — % The valuation of the TSR portion of the PRSUs granted during 2021 and 2020 also reflects a weighted average illiquidity discount of 8.19% and 8.00%, respectively, related to the six-month period that recipients are restricted from selling, transferring, pledging or assigning the underlying shares, in the event of vesting. The following table summarizes time-vested RSU activity for the nine month period ended October 1, 2021: Time-Vested Weighted Nonvested at December 31, 2020 207,923 $ 75.38 Granted 190,143 82.20 Vested (90,740) 66.97 Forfeited (15,912) 79.59 Nonvested at October 1, 2021 291,414 $ 82.22 The following table summarizes PRSU activity for the nine month period ended October 1, 2021: Performance- Weighted Nonvested at December 31, 2020 219,391 $ 72.33 Granted 92,345 85.16 Vested (38,882) 37.75 Forfeited (69,333) 51.16 Nonvested at October 1, 2021 203,521 $ 91.97

Other Operating Expenses

Other Operating Expenses	9 Months Ended
	Oct. 01, 2021
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSES	OTHER OPERATING EXPENSES Other operating expenses comprise the following (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Operational excellence initiatives $ 1,727 $ 858 $ 2,572 $ 2,275 Strategic reorganization and alignment — — — 686 Manufacturing alignment to support growth — 36 — 224 Acquisition and integration 182 107 292 510 Other general expenses 554 1,673 793 3,936 Total other operating expenses $ 2,463 $ 2,674 $ 3,657 $ 7,631 Operational excellence initiatives The Company’s operational excellence (“OE”) initiatives mainly consist of costs associated with executing on its sales force, manufacturing, business process and performance excellence operational strategic 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. 2021 OE Initiatives - Costs related to the Company’s 2021 OE initiatives are primarily recorded within the Medical segment or unallocated operating expenses and mainly include termination benefits. The Company estimates that it will incur aggregate pre-tax charges in connection with the 2021 OE initiatives of between approximately $3 million to $4 million, the majority of which are expected to be cash expenditures. As of October 1, 2021, total restructuring and related charges incurred since inception was $2.3 million. These actions are expected to be substantially complete by the end of 2021. 2020 OE Initiatives - Costs related to the Company’s 2020 OE initiatives are primarily recorded within the Medical segment and mainly include termination benefits. As of October 1, 2021, total restructuring and related charges incurred since inception was $3.1 million. These actions were substantially complete at the end of 2020. Strategic reorganization and alignment These initiatives primarily included aligning resources with the Company’s strategic direction, improving profitability to invest in accelerated growth and the expansion of a facility. These actions began in 2017 and were completed during the second quarter of 2020. The Company recorded, primarily within the Medical segment, $23.0 million of restructuring and related charges since inception. Manufacturing alignment to support growth These initiatives were designed to reduce costs, increase manufacturing capacity to accommodate growth and improve operating efficiencies by relocating certain manufacturing operations and expanding certain facilities. These actions began in 2017 and were completed during the fourth quarter of 2020. The Company recorded, primarily within the Medical segment, $5.8 million of restructuring and related charges since inception. The following table summarizes the change in accrued liabilities, presented within Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets, related to the initiatives described above (in thousands): Operational December 31, 2020 $ 291 Charges incurred, net of reversals 1,927 Cash payments (928) October 1, 2021 $ 1,290 (8.) OTHER OPERATING EXPENSES (Continued) Acquisition and integration Acquisition and integration costs primarily consist of professional fees and other costs related to business acquisitions. During the nine months ended October 1, 2021 and October 2, 2020, acquisition and integration costs included $0.1 million and $1.0 million, respectively, of expenses related to the acquisition of certain assets and liabilities of InoMec, which was acquired in February 2020, and US BioDesign, LLC (“USB”), which was acquired in October 2019. Acquisition and integration costs for the nine months ended October 2, 2020, also includes a $0.5 million adjustment to reduce the fair value of acquisition-related contingent consideration liability associated with the Company’s acquisition of USB. See Note 13 “Financial Instruments and Fair Value Measurements” for additional information related to the fair value measurement of the contingent consideration. Other general expenses During the nine months ended October 1, 2021 and October 2, 2020, the Company recorded expenses related to other initiatives not described above, which relate primarily to integration and operational initiatives to reduce future costs and improve efficiencies. The 2021 and 2020 amounts primarily include termination benefits, information technology systems conversion expenses, and expenses related to the restructuring of certain legal entities of the Company.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2021
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 the third quarter of 2021 was 4.8% on $23.2 million of income before taxes compared to 3.4% on $31.4 million of income before taxes for the same period in 2020. The Company’s effective tax rate for the first nine months of 2021 was 7.5% on $78.9 million of income before taxes compared to 9.3% on $68.2 million of income before taxes for the same period in 2020. The difference between the Company’s effective tax rates and the U.S. federal statutory income tax rate of 21% for the third quarter and first nine months of 2021 and 2020 is due principally to the net impact of the Company’s earnings outside the U.S., which are generally taxed at rates that differ from the U.S federal rate, the Global Intangible Low-Taxed Income (“GILTI”) tax, the availability of tax credits, and the recognition of certain discrete tax benefits. The Company recorded discrete tax benefits of $1.6 million and $6.1 million, respectively, for the third quarter and first nine months of 2021, compared to discrete tax benefits of $4.9 million and $5.9 million, respectively, for the third quarter and first nine months of 2020. Approximately $3.5 million of the discrete tax benefits recognized for the first nine months of 2021 relate to the reversal of unrecognized tax benefits resulting from the effective settlement of tax audits during the second quarter of 2021. The remainder of the discrete tax benefits relate predominately to excess tax benefits recognized upon vesting of RSUs or exercise of stock options during those quarters and favorable return to provision adjustments related to the 2020 tax year. Unrecognized tax benefits reflect the difference between positions taken or expected to be taken on income tax returns and the amounts reflected in the financial statements. As of October 1, 2021, the Company had unrecognized tax benefits of approximately $4.4 million, of which approximately $4.4 million would favorably impact the effective tax rate, net of federal benefit on state issues, if recognized. As of October 1, 2021, the Company believes the reasonably possible total amount of unrecognized tax benefits that could increase or decrease in the next 12 months as a result of various statute expirations, audit closures, and/or tax settlements would not be material to its consolidated financial statements. 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. The CARES Act provides for deferred payment of the employer portion of social security taxes through the end of 2020, with 50% of the deferred amount due January 3, 2022 and the remaining 50% due January 3, 2023. As of October 1, 2021 and December 31, 2020, the Company had deferred a total of $9.7 million of payroll taxes. The deferred payroll taxes are included within Accrued expenses and other current liabilities and Other long-term liabilities on the Condensed Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contingent Consideration Arrangements The Company records contingent consideration liabilities related to the earn-out provisions for certain acquisitions. See Note 13 “Financial Instruments and Fair Value Measurements” for additional information. 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. Following four trials and an appeal, the United States Court of Appeals for the Federal Circuit affirmed, in all respects, a judgment in favor of the Company. The Company received the payment of $28.9 million in October 2020, and after recognizing certain related expenses, recognized a net gain of $28.2 million. Selling, general and administrative expenses The net gain on patent litigation of $28.2 million is recorded in Selling, g eneral and administrative expenses in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended October 2, 2020. 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 expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The change in product warranty liability comprised the following (in thousands): December 31, 2020 $ 163 Additions to warranty reserve, net of reversals (10) Adjustments to pre-existing warranties (71) October 1, 2021 $ 82

Earnings Per Share (_EPS_)

Earnings Per Share (“EPS”)	9 Months Ended
	Oct. 01, 2021
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 Nine Months Ended October 1, October 2, October 1, October 2, Numerator for basic and diluted EPS: Net income $ 22,066 $ 30,342 $ 73,019 $ 61,831 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 33,008 32,859 32,982 32,833 Dilutive effect of share-based awards 301 217 268 274 Weighted average shares outstanding - Diluted 33,309 33,076 33,250 33,107 Basic EPS $ 0.67 $ 0.92 $ 2.21 $ 1.88 Diluted EPS $ 0.66 $ 0.92 $ 2.20 $ 1.87 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 Nine Months Ended October 1, October 2, October 1, October 2, Time-vested RSUs 1 145 4 134 PRSUs 83 167 70 93

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Oct. 01, 2021
Equity [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 nine month periods ended October 1, 2021 and October 2, 2020: Issued Treasury Stock Outstanding Shares outstanding at December 31, 2020 32,908,178 — 32,908,178 Stock options exercised 27,002 — 27,002 Vesting of RSUs, net of shares withheld to cover taxes 81,804 — 81,804 Shares outstanding at October 1, 2021 33,016,984 — 33,016,984 Shares outstanding at December 31, 2019 32,847,017 (146,546) 32,700,471 Stock options exercised 21,327 74,596 95,923 Vesting of RSUs, net of shares withheld to cover taxes 6,822 71,950 78,772 Shares outstanding at October 2, 2020 32,875,166 — 32,875,166 Accumulated Other Comprehensive Income (“AOCI”) comprises the following (in thousands): Defined Cash Foreign Total Tax Net-of-Tax July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951 Unrealized loss on cash flow hedges — (306) — (306) 64 (242) Realized gain on foreign currency hedges — (206) — (206) 44 (162) Realized loss on interest rate swap hedge — 584 — 584 (123) 461 Foreign currency translation loss — — (7,836) (7,836) — (7,836) October 1, 2021 $ (1,095) $ (4,708) $ 35,830 $ 30,027 $ 1,145 $ 31,172 December 31, 2020 $ (1,095) $ (4,956) $ 57,546 $ 51,495 $ 1,197 $ 52,692 Unrealized loss on cash flow hedges — (1,010) — (1,010) 212 (798) Realized gain on foreign currency hedges — (1,355) — (1,355) 285 (1,070) Realized loss on interest rate swap hedges — 2,613 — 2,613 (549) 2,064 Foreign currency translation loss — — (21,716) (21,716) — (21,716) October 1, 2021 $ (1,095) $ (4,708) $ 35,830 $ 30,027 $ 1,145 $ 31,172 (12.) STOCKHOLDERS’ EQUITY (Continued) Defined Cash Foreign Total Tax Net-of-Tax July 3, 2020 $ (912) $ (10,491) $ 23,555 $ 12,152 $ 2,327 $ 14,479 Unrealized gain on cash flow hedges — 565 — 565 (118) 447 Realized loss on foreign currency hedges — 84 — 84 (18) 66 Realized loss on interest rate swap hedges — 1,066 — 1,066 (224) 842 Foreign currency translation gain — — 16,387 16,387 — 16,387 October 2, 2020 $ (912) $ (8,776) $ 39,942 $ 30,254 $ 1,967 $ 32,221 December 31, 2019 $ (912) $ (2,358) $ 22,639 $ 19,369 $ 619 $ 19,988 Unrealized loss on cash flow hedges — (9,416) — (9,416) 1,978 (7,438) Realized loss on foreign currency hedges — 567 — 567 (119) 448 Realized loss on interest rate swap hedges — 2,431 — 2,431 (511) 1,920 Foreign currency translation gain — — 17,303 17,303 — 17,303 October 2, 2020 $ (912) $ (8,776) $ 39,942 $ 30,254 $ 1,967 $ 32,221

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Oct. 01, 2021
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 Condensed Consolidated Balance Sheets. The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Significant Significant October 1, 2021 Assets: Foreign currency contracts $ 115 $ — $ 115 $ — Liabilities: Foreign currency contracts 420 — 420 — Liabilities: Interest rate swap 4,403 — 4,403 — Liabilities: Contingent consideration 2,282 — — 2,282 December 31, 2020 Assets: Foreign currency contracts $ 2,070 $ — $ 2,070 $ — Liabilities: Interest rate swap 7,026 — 7,026 — Liabilities: Contingent consideration 3,900 — — 3,900 (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) 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 swap designated as cash flow hedges as of October 1, 2021 is as follows (dollars in thousands): Notional Amount Start Date End Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 150,000 Jun 2020 Jun 2023 2.1785 % 0.0860 % $ (4,403) Other long-term liabilities Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of December 31, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2020 Jun 2023 2.1785 % 0.1480 % $ (7,026) Other long-term liabilities 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 October 1, 2021 is as follows (dollars in thousands): Notional Amount Start End $/Foreign Currency Fair Value Balance Sheet Location $ 665 Oct 2021 Nov 2021 0.0222 UYU Peso $ 34 Prepaid expenses and other current assets 1,015 Oct 2021 Dec 2021 0.0226 UYU Peso 32 Prepaid expenses and other current assets 999 Oct 2021 Dec 2021 0.0222 UYU Peso 49 Prepaid expenses and other current assets 2,155 Oct 2021 Dec 2021 0.0479 MXN Peso 31 Accrued expenses and other current liabilities 3,669 Oct 2021 Dec 2021 1.2230 Euro (185) Accrued expenses and other current liabilities 3,648 Oct 2021 Dec 2021 0.0486 MXN Peso (5) Accrued expenses and other current liabilities 3,674 Oct 2021 Dec 2021 1.2245 Euro (190) Accrued expenses and other current liabilities 4,444 Oct 2021 Dec 2021 0.0494 MXN Peso (71) Accrued expenses and other current liabilities (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2020 is as follows (dollars in thousands): Notional Amount Start End $/Foreign Currency Fair Value Balance Sheet Location $ 16,132 Nov 2020 Sep 2021 1.1949 Euro $ 399 Prepaid expenses and other current assets 10,224 Jan 2021 Sep 2021 0.0454 MXN Peso 922 Prepaid expenses and other current assets 2,656 Jan 2021 Mar 2021 0.0443 MXN Peso 341 Prepaid expenses and other current assets 7,269 Apr 2021 Dec 2021 0.0485 MXN Peso 77 Prepaid expenses and other current assets 3,252 Jan 2021 Aug 2021 0.0232 UYU Peso 165 Prepaid expenses and other current assets 3,966 Jan 2021 Nov 2021 0.0227 UYU Peso 166 Prepaid expenses and other current assets Derivative Instruments with Hedge Accounting Designation The following tables present the effect of cash flow hedge derivative instruments on other comprehensive income (loss) (“OCI”), AOCI and the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the nine months ended October 1, 2021 and October 2, 2020 (in thousands): Three Months Ended October 1, 2021 October 2, 2020 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 305,574 $ (240) $ 235,942 $ 590 Cost of sales 223,702 434 178,009 (651) Operating expenses 48,782 12 18,175 (23) Interest expense 10,053 (584) 9,368 (1,066) Nine Months Ended October 1, 2021 October 2, 2020 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 908,064 $ (203) $ 804,483 $ 549 Cost of sales 652,960 1,508 591,985 (1,059) Operating expenses 148,056 50 119,479 (57) Interest expense 26,117 (2,613) 29,002 (2,431) (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) Unrealized Gain (Loss) Recognized in OCI Realized Gain (Loss) Reclassified from AOCI Three Months Ended Location in Statements of Operations and Comprehensive Income Three Months Ended October 1, October 2, October 1, October 2, Interest rate swap $ 119 $ (11) Interest expense $ (584) $ (1,066) Foreign exchange contracts (239) 68 Sales (240) 590 Foreign exchange contracts (235) 451 Cost of sales 434 (651) Foreign exchange contracts 49 57 Operating expenses 12 (23) Nine Months Ended Location in Statements of Operations and Comprehensive Income Nine Months Ended October 1, October 2, October 1, October 2, Interest rate swaps $ 10 $ (7,401) Interest expense $ (2,613) $ (2,431) Foreign exchange contracts (977) 277 Sales (203) 549 Foreign exchange contracts (69) (2,277) Cost of sales 1,508 (1,059) Foreign exchange contracts 26 (15) Operating expenses 50 (57) The Company expects to reclassify net losses totaling $3.4 million related to its cash flow hedges from AOCI into earnings during the next twelve months. Contingent Consideration The following table presents the changes in the estimated fair values of the Company’s liabilities for contingent consideration measured using significant unobservable inputs (Level 3) for the three and nine months ended October 1, 2021 and October 2, 2020 (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Fair value measurement at beginning of period $ 2,281 $ 5,887 $ 3,900 $ 4,200 Amount recorded for acquisitions — — — 2,700 Fair value measurement adjustment — — — (500) Payments (1) — (500) (1,621) (1,000) Foreign currency translation 1 14 3 1 Fair value measurement at end of period $ 2,282 $ 5,401 $ 2,282 $ 5,401 __________ (1) Amounts for 2021 periods consist of payments associated with the Company’s acquisitions of InoMec and USB, resulting from achievement of revenue-based goals for the period from March 1, 2020 to February 28, 2021 for InoMec and January 1, 2020 to December 31, 2020 for USB. Amounts for 2020 periods consist of a payment made to settle a portion of a contingent consideration arrangement relating to a license to use technology. On February 19, 2020, the Company acquired certain assets and liabilities of InoMec. See Note 2 “Business Acquisition” for additional information about the InoMec acquisition. On October 7, 2019, the Company acquired certain assets and liabilities of USB, a privately-held developer and manufacturer of complex braided biomedical structures for disposable and implantable medical devices. The contingent consideration at October 1, 2021 is the estimated fair value of the Company’s obligations, under the asset purchase agreements for InoMec and USB, to make additional payments if certain revenue goals are met. (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) As of October 1, 2021, the current portion of contingent consideration liabilities is $1.0 million and included in Accrued expenses and other current liabilities, and the non-current portion is $1.3 million and included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. As of December 31, 2020, the current portion of contingent consideration liabilities was $1.7 million and included in Accrued expenses and other current liabilities, and the non-current portion was $2.2 million and included in Other long-term liabilities on the Condensed Consolidated Balance Sheets. The following table provides quantitative information associated with the fair value measurement of the Company’s liabilities for contingent consideration: October 1, 2021 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments $ 6,750 $ 2,282 Monte Carlo Revenue volatility 35.0 % Discount rate 4.0 % Projected year(s) of payment 2022-2024 December 31, 2020 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments $ 9,000 $ 3,900 Monte Carlo Revenue volatility 35.0 % Discount rate 4.0 % Projected year(s) of payment 2021-2024 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. 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 comprise the following (in thousands): October 1, December 31, Equity method investment $ 17,627 $ 21,470 Non-marketable equity securities 5,723 5,723 Total equity investments $ 23,350 $ 27,193 (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) The components of (Gain) loss on equity investments for each period were as follows (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Equity method investment (gain) loss $ (152) $ (2,234) $ 1,867 $ (3,954) The Company’s equity method investment is in a venture capital fund focused on investing in life sciences companies. As of October 1, 2021, the Company owned 6.6% of this fund.

Segment Information

Segment Information	9 Months Ended
	Oct. 01, 2021
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 by product line (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Segment sales by product line: Medical Cardio & Vascular $ 160,858 $ 124,596 $ 462,632 $ 432,885 Cardiac & Neuromodulation 106,543 72,909 334,700 252,404 Advanced Surgical, Orthopedics & Portable Medical 28,720 30,179 83,380 92,041 Total Medical 296,121 227,684 880,712 777,330 Non-Medical 9,453 8,258 27,352 27,153 Total sales $ 305,574 $ 235,942 $ 908,064 $ 804,483 The following table presents income for the Company’s reportable segments (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Segment income: Medical $ 52,347 $ 28,777 $ 164,311 $ 120,903 Non-Medical 2,016 1,214 5,374 4,894 Total segment income 54,363 29,991 169,685 125,797 Unallocated operating income (expenses) (a) (21,273) 9,767 (62,637) (32,778) Operating income 33,090 39,758 107,048 93,019 Unallocated expenses, net (9,911) (8,358) (28,113) (24,815) Income before taxes $ 23,179 $ 31,400 $ 78,935 $ 68,204 __________ (a) Unallocated operating income (expenses) for the three and nine months ended October 2, 2020 includes a net gain of $28.2 million related to a patent litigation judgment.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	9 Months Ended
	Oct. 01, 2021
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 33% and 34%, respectively, of total revenue for the three and nine months ended October 1, 2021, compared to 30% and 29%, respectively, for the three and nine months ended October 2, 2020. All revenue recognized from products and services transferred to customers over time during the periods presented was within the Medical segment. The following tables present 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 October 1, 2021 October 2, 2020 Customer Medical Non-Medical Medical Non-Medical Customer A 17% * 16% * Customer B 17% * 17% * Customer C 14% * 17% * Customer D * 38% * 25% Customer F * * * 11% All other customers 52% 62% 50% 64% Nine Months Ended October 1, 2021 October 2, 2020 Customer Medical Non-Medical Medical Non-Medical Customer A 20% * 20% * Customer B 17% * 16% * Customer C 14% * 15% * Customer D * 34% * 22% Customer E * * * 11% All other customers 49% 66% 49% 67% __________ * Less than 10% of segment’s total revenues for the period. The following tables present 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 October 1, 2021 October 2, 2020 Ship to Location Medical Non-Medical Medical Non-Medical United States 56% 68% 58% 66% South Korea * * * 11% All other countries 44% 32% 42% 23% (15.) REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued) Nine Months Ended October 1, 2021 October 2, 2020 Ship to Location Medical Non-Medical Medical Non-Medical United States 54% 69% 56% 54% Canada * * * 11% United Kingdom * * * 10% All other countries 46% 31% 44% 25% __________ * 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): October 1, December 31, Contract assets $ 59,440 $ 40,218 Contract liabilities 2,865 2,498 Contract assets at October 1, 2021, increased $19.2 million from December 31, 2020, primarily due to a contract modification to add existing products and extend the contractual term. During the three and nine months ended October 1, 2021, the Company recognized $0.3 million and $1.4 million, respectively, of revenue that was included in the contract liability balance as of December 31, 2020. During the three and nine months ended October 2, 2020, the Company recognized $0.2 million and $1.3 million respectively, of revenue that was included in the contract liability balance as of December 31, 2019.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Oct. 01, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn October 27, 2021, the Company entered into a definitive securities purchase agreement to acquire Oscor, Inc., Oscor Caribe, LLC and Oscor Europe GmbH (collectively, “Oscor”) for a cash purchase price of $220.0 million. The Company will fund the purchase price with debt. Oscor is a privately held company with operations in Florida, the Dominican Republic and Germany that designs, develops, manufactures and markets a variety of highly specialized implantable cardiac pacing leads, venous access systems and diagnostic catheters, and will become part of the Company’s Medical segment. Upon closing, the acquisition will broaden the Company’s product portfolio, expand its R&D capabilities, and add low-cost manufacturing capacity. The Company anticipates the acquisition will be completed during the fourth quarter of 2021, subject to the satisfaction of certain customary closing conditions.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Oct. 01, 2021
Accounting Policies [Abstract]
Interim Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) 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 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.
Recent 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”). The Company evaluated all recent accounting pronouncements issued, including those that are currently effective, and determined that the adoption of these pronouncements would not have a material effect on the financial position, results of operations or cash flows of the Company. 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, 2020, that are of significance, or potential significance, to the Company.
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.
Equity Investments	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.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Oct. 01, 2021
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): Nine Months Ended October 1, October 2, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 4,311 $ 3,756 Debt issuance costs incurred but not yet paid 1,713 — Supplemental lease disclosures: Operating lease assets obtained in exchange for new or remeasured operating 7,772 8,139

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 01, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories comprise the following (in thousands): October 1, December 31, Raw materials $ 65,108 $ 72,477 Work-in-process 73,556 58,806 Finished goods 10,571 18,040 Total $ 149,235 $ 149,323

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	9 Months Ended
	Oct. 01, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reportable segment for the nine months ended October 1, 2021 were as follows (in thousands): Medical Non- Medical Total December 31, 2020 $ 842,442 $ 17,000 $ 859,442 Foreign currency translation (9,756) — (9,756) October 1, 2021 $ 832,686 $ 17,000 $ 849,686
Schedule of Finite-Lived Intangible Assets, Major Class	Intangible assets comprise the following (in thousands): Gross Accumulated Net October 1, 2021 Definite-lived: Purchased technology and patents $ 254,924 $ (161,375) $ 93,549 Customer lists 713,126 (181,009) 532,117 Other 4,140 (4,034) 106 Total amortizing intangible assets $ 972,190 $ (346,418) $ 625,772 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2020 Definite-lived: Purchased technology and patents $ 257,453 $ (152,798) $ 104,655 Customer lists 723,791 (161,856) 561,935 Other 4,142 (3,796) 346 Total amortizing intangible assets $ 985,386 $ (318,450) $ 666,936 Indefinite-lived: Trademarks and tradenames $ 90,288
Schedule of Indefinite-Lived Intangible Assets	Intangible assets comprise the following (in thousands): Gross Accumulated Net October 1, 2021 Definite-lived: Purchased technology and patents $ 254,924 $ (161,375) $ 93,549 Customer lists 713,126 (181,009) 532,117 Other 4,140 (4,034) 106 Total amortizing intangible assets $ 972,190 $ (346,418) $ 625,772 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2020 Definite-lived: Purchased technology and patents $ 257,453 $ (152,798) $ 104,655 Customer lists 723,791 (161,856) 561,935 Other 4,142 (3,796) 346 Total amortizing intangible assets $ 985,386 $ (318,450) $ 666,936 Indefinite-lived: Trademarks and tradenames $ 90,288
Schedule of Finite-Lived Intangible Assets, Amortization Expense	Aggregate intangible asset amortization expense comprises the following (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Cost of sales $ 3,216 $ 3,219 $ 9,717 $ 9,660 Selling, general and administrative expenses 7,068 7,080 21,356 21,234 Total intangible asset amortization expense $ 10,284 $ 10,299 $ 31,073 $ 30,894
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated future intangible asset amortization expense based on the carrying value as of October 1, 2021 is as follows (in thousands): Remainder of 2021 2022 2023 2024 2025 After 2025 Amortization Expense $ 10,240 40,010 38,595 37,646 36,336 462,945

Debt (Tables)

Debt (Tables)	9 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt related to the 2021 Credit Agreement and 2015 Credit Agreement (each as defined below) as of October 1, 2021 and December 31, 2020, respectively, comprises the following (in thousands): October 1, December 31, Senior secured term loan A $ 250,000 $ 229,687 Senior secured term loan B 350,000 508,286 Senior secured revolving credit facility 37,300 — Unamortized discount on term loan B and debt issuance costs (6,645) (6,715) Total debt 630,655 731,258 Current portion of long-term debt (20,250) (37,500) Total long-term debt $ 610,405 $ 693,758
Schedule of Maturities of Long-term Debt	Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2021 and through maturity, excluding any discounts or premiums, as of October 1, 2021 are as follows (in thousands): 2021 2022 2023 2024 2025 After 2025 Future minimum principal payments $ 5,063 20,250 21,812 28,063 32,750 529,362

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 01, 2021
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 Nine Months Ended October 1, October 2, October 1, October 2, Stock options $ — $ 10 $ — $ 33 RSUs 3,282 2,977 12,235 6,196 Total stock-based compensation expense $ 3,282 $ 2,987 $ 12,235 $ 6,229 Cost of sales $ 649 $ 530 $ 2,586 $ 1,214 Selling, general and administrative 2,177 2,319 8,747 4,608 Research, development and engineering 302 138 748 407 Other operating expenses 154 — 154 — Total stock-based compensation expense $ 3,282 $ 2,987 $ 12,235 $ 6,229
Schedule of Share-based Compensation, Stock Options Activity	The following table summarizes the Company’s stock option activity for the nine month period ended October 1, 2021: Number of Weighted Weighted Aggregate Outstanding at December 31, 2020 281,873 $ 36.05 Exercised (27,002) 22.01 Outstanding and exercisable at October 1, 2021 254,871 $ 37.53 4.3 $ 13.9
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: Nine Months Ended October 1, October 2, Weighted average fair value $ 85.16 $ 107.42 Risk-free interest rate 0.19 % 1.53 % Expected volatility 41 % 30 % Expected life (in years) 3.0 2.9 Expected dividend yield — % — %
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes time-vested RSU activity for the nine month period ended October 1, 2021: Time-Vested Weighted Nonvested at December 31, 2020 207,923 $ 75.38 Granted 190,143 82.20 Vested (90,740) 66.97 Forfeited (15,912) 79.59 Nonvested at October 1, 2021 291,414 $ 82.22 The following table summarizes PRSU activity for the nine month period ended October 1, 2021: Performance- Weighted Nonvested at December 31, 2020 219,391 $ 72.33 Granted 92,345 85.16 Vested (38,882) 37.75 Forfeited (69,333) 51.16 Nonvested at October 1, 2021 203,521 $ 91.97

Other Operating Expenses (Table

Other Operating Expenses (Tables)	9 Months Ended
	Oct. 01, 2021
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense By Component	Other operating expenses comprise the following (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Operational excellence initiatives $ 1,727 $ 858 $ 2,572 $ 2,275 Strategic reorganization and alignment — — — 686 Manufacturing alignment to support growth — 36 — 224 Acquisition and integration 182 107 292 510 Other general expenses 554 1,673 793 3,936 Total other operating expenses $ 2,463 $ 2,674 $ 3,657 $ 7,631
Schedule of Changes in Accrued Liabilities	The following table summarizes the change in accrued liabilities, presented within Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets, related to the initiatives described above (in thousands): Operational December 31, 2020 $ 291 Charges incurred, net of reversals 1,927 Cash payments (928) October 1, 2021 $ 1,290

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The change in product warranty liability comprised the following (in thousands): December 31, 2020 $ 163 Additions to warranty reserve, net of reversals (10) Adjustments to pre-existing warranties (71) October 1, 2021 $ 82

Earnings Per Share (_EPS_) (Tab

Earnings Per Share (“EPS”) (Tables)	9 Months Ended
	Oct. 01, 2021
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 Nine Months Ended October 1, October 2, October 1, October 2, Numerator for basic and diluted EPS: Net income $ 22,066 $ 30,342 $ 73,019 $ 61,831 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 33,008 32,859 32,982 32,833 Dilutive effect of share-based awards 301 217 268 274 Weighted average shares outstanding - Diluted 33,309 33,076 33,250 33,107 Basic EPS $ 0.67 $ 0.92 $ 2.21 $ 1.88 Diluted EPS $ 0.66 $ 0.92 $ 2.20 $ 1.87
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 Nine Months Ended October 1, October 2, October 1, October 2, Time-vested RSUs 1 145 4 134 PRSUs 83 167 70 93

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Oct. 01, 2021
Equity [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 nine month periods ended October 1, 2021 and October 2, 2020: Issued Treasury Stock Outstanding Shares outstanding at December 31, 2020 32,908,178 — 32,908,178 Stock options exercised 27,002 — 27,002 Vesting of RSUs, net of shares withheld to cover taxes 81,804 — 81,804 Shares outstanding at October 1, 2021 33,016,984 — 33,016,984 Shares outstanding at December 31, 2019 32,847,017 (146,546) 32,700,471 Stock options exercised 21,327 74,596 95,923 Vesting of RSUs, net of shares withheld to cover taxes 6,822 71,950 78,772 Shares outstanding at October 2, 2020 32,875,166 — 32,875,166
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (“AOCI”) comprises the following (in thousands): Defined Cash Foreign Total Tax Net-of-Tax July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951 Unrealized loss on cash flow hedges — (306) — (306) 64 (242) Realized gain on foreign currency hedges — (206) — (206) 44 (162) Realized loss on interest rate swap hedge — 584 — 584 (123) 461 Foreign currency translation loss — — (7,836) (7,836) — (7,836) October 1, 2021 $ (1,095) $ (4,708) $ 35,830 $ 30,027 $ 1,145 $ 31,172 December 31, 2020 $ (1,095) $ (4,956) $ 57,546 $ 51,495 $ 1,197 $ 52,692 Unrealized loss on cash flow hedges — (1,010) — (1,010) 212 (798) Realized gain on foreign currency hedges — (1,355) — (1,355) 285 (1,070) Realized loss on interest rate swap hedges — 2,613 — 2,613 (549) 2,064 Foreign currency translation loss — — (21,716) (21,716) — (21,716) October 1, 2021 $ (1,095) $ (4,708) $ 35,830 $ 30,027 $ 1,145 $ 31,172 (12.) STOCKHOLDERS’ EQUITY (Continued) Defined Cash Foreign Total Tax Net-of-Tax July 3, 2020 $ (912) $ (10,491) $ 23,555 $ 12,152 $ 2,327 $ 14,479 Unrealized gain on cash flow hedges — 565 — 565 (118) 447 Realized loss on foreign currency hedges — 84 — 84 (18) 66 Realized loss on interest rate swap hedges — 1,066 — 1,066 (224) 842 Foreign currency translation gain — — 16,387 16,387 — 16,387 October 2, 2020 $ (912) $ (8,776) $ 39,942 $ 30,254 $ 1,967 $ 32,221 December 31, 2019 $ (912) $ (2,358) $ 22,639 $ 19,369 $ 619 $ 19,988 Unrealized loss on cash flow hedges — (9,416) — (9,416) 1,978 (7,438) Realized loss on foreign currency hedges — 567 — 567 (119) 448 Realized loss on interest rate swap hedges — 2,431 — 2,431 (511) 1,920 Foreign currency translation gain — — 17,303 17,303 — 17,303 October 2, 2020 $ (912) $ (8,776) $ 39,942 $ 30,254 $ 1,967 $ 32,221

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables provide information regarding assets and liabilities recorded at fair value on a recurring basis (in thousands): Fair Value Quoted Significant Significant October 1, 2021 Assets: Foreign currency contracts $ 115 $ — $ 115 $ — Liabilities: Foreign currency contracts 420 — 420 — Liabilities: Interest rate swap 4,403 — 4,403 — Liabilities: Contingent consideration 2,282 — — 2,282 December 31, 2020 Assets: Foreign currency contracts $ 2,070 $ — $ 2,070 $ — Liabilities: Interest rate swap 7,026 — 7,026 — Liabilities: Contingent consideration 3,900 — — 3,900 Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of October 1, 2021 is as follows (dollars in thousands): Notional Amount Start Date End Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 150,000 Jun 2020 Jun 2023 2.1785 % 0.0860 % $ (4,403) Other long-term liabilities Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of December 31, 2020 is as follows (dollars in thousands): Notional Amount Start Date End Pay Fixed Rate Receive Current Floating Rate Fair Value Balance Sheet Location $ 200,000 Jun 2020 Jun 2023 2.1785 % 0.1480 % $ (7,026) Other long-term liabilities Notional Amount Start End $/Foreign Currency Fair Value Balance Sheet Location $ 665 Oct 2021 Nov 2021 0.0222 UYU Peso $ 34 Prepaid expenses and other current assets 1,015 Oct 2021 Dec 2021 0.0226 UYU Peso 32 Prepaid expenses and other current assets 999 Oct 2021 Dec 2021 0.0222 UYU Peso 49 Prepaid expenses and other current assets 2,155 Oct 2021 Dec 2021 0.0479 MXN Peso 31 Accrued expenses and other current liabilities 3,669 Oct 2021 Dec 2021 1.2230 Euro (185) Accrued expenses and other current liabilities 3,648 Oct 2021 Dec 2021 0.0486 MXN Peso (5) Accrued expenses and other current liabilities 3,674 Oct 2021 Dec 2021 1.2245 Euro (190) Accrued expenses and other current liabilities 4,444 Oct 2021 Dec 2021 0.0494 MXN Peso (71) Accrued expenses and other current liabilities Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2020 is as follows (dollars in thousands): Notional Amount Start End $/Foreign Currency Fair Value Balance Sheet Location $ 16,132 Nov 2020 Sep 2021 1.1949 Euro $ 399 Prepaid expenses and other current assets 10,224 Jan 2021 Sep 2021 0.0454 MXN Peso 922 Prepaid expenses and other current assets 2,656 Jan 2021 Mar 2021 0.0443 MXN Peso 341 Prepaid expenses and other current assets 7,269 Apr 2021 Dec 2021 0.0485 MXN Peso 77 Prepaid expenses and other current assets 3,252 Jan 2021 Aug 2021 0.0232 UYU Peso 165 Prepaid expenses and other current assets 3,966 Jan 2021 Nov 2021 0.0227 UYU Peso 166 Prepaid expenses and other current assets
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables present the effect of cash flow hedge derivative instruments on other comprehensive income (loss) (“OCI”), AOCI and the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income for the nine months ended October 1, 2021 and October 2, 2020 (in thousands): Three Months Ended October 1, 2021 October 2, 2020 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 305,574 $ (240) $ 235,942 $ 590 Cost of sales 223,702 434 178,009 (651) Operating expenses 48,782 12 18,175 (23) Interest expense 10,053 (584) 9,368 (1,066) Nine Months Ended October 1, 2021 October 2, 2020 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 908,064 $ (203) $ 804,483 $ 549 Cost of sales 652,960 1,508 591,985 (1,059) Operating expenses 148,056 50 119,479 (57) Interest expense 26,117 (2,613) 29,002 (2,431) Unrealized Gain (Loss) Recognized in OCI Realized Gain (Loss) Reclassified from AOCI Three Months Ended Location in Statements of Operations and Comprehensive Income Three Months Ended October 1, October 2, October 1, October 2, Interest rate swap $ 119 $ (11) Interest expense $ (584) $ (1,066) Foreign exchange contracts (239) 68 Sales (240) 590 Foreign exchange contracts (235) 451 Cost of sales 434 (651) Foreign exchange contracts 49 57 Operating expenses 12 (23) Nine Months Ended Location in Statements of Operations and Comprehensive Income Nine Months Ended October 1, October 2, October 1, October 2, Interest rate swaps $ 10 $ (7,401) Interest expense $ (2,613) $ (2,431) Foreign exchange contracts (977) 277 Sales (203) 549 Foreign exchange contracts (69) (2,277) Cost of sales 1,508 (1,059) Foreign exchange contracts 26 (15) Operating expenses 50 (57)
Schedule of Estimated Fair Values for Contingent Consideration	The following table presents the changes in the estimated fair values of the Company’s liabilities for contingent consideration measured using significant unobservable inputs (Level 3) for the three and nine months ended October 1, 2021 and October 2, 2020 (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Fair value measurement at beginning of period $ 2,281 $ 5,887 $ 3,900 $ 4,200 Amount recorded for acquisitions — — — 2,700 Fair value measurement adjustment — — — (500) Payments (1) — (500) (1,621) (1,000) Foreign currency translation 1 14 3 1 Fair value measurement at end of period $ 2,282 $ 5,401 $ 2,282 $ 5,401 __________ (1) Amounts for 2021 periods consist of payments associated with the Company’s acquisitions of InoMec and USB, resulting from achievement of revenue-based goals for the period from March 1, 2020 to February 28, 2021 for InoMec and January 1, 2020 to December 31, 2020 for USB. Amounts for 2020 periods consist of a payment made to settle a portion of a contingent consideration arrangement relating to a license to use technology.
Schedule of Contingent Consideration Measurement Inputs	The following table provides quantitative information associated with the fair value measurement of the Company’s liabilities for contingent consideration: October 1, 2021 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments $ 6,750 $ 2,282 Monte Carlo Revenue volatility 35.0 % Discount rate 4.0 % Projected year(s) of payment 2022-2024 December 31, 2020 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments $ 9,000 $ 3,900 Monte Carlo Revenue volatility 35.0 % Discount rate 4.0 % Projected year(s) of payment 2021-2024
Schedule of Equity Method Investments	Equity investments comprise the following (in thousands): October 1, December 31, Equity method investment $ 17,627 $ 21,470 Non-marketable equity securities 5,723 5,723 Total equity investments $ 23,350 $ 27,193 (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) The components of (Gain) loss on equity investments for each period were as follows (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Equity method investment (gain) loss $ (152) $ (2,234) $ 1,867 $ (3,954)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following table presents sales by product line (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Segment sales by product line: Medical Cardio & Vascular $ 160,858 $ 124,596 $ 462,632 $ 432,885 Cardiac & Neuromodulation 106,543 72,909 334,700 252,404 Advanced Surgical, Orthopedics & Portable Medical 28,720 30,179 83,380 92,041 Total Medical 296,121 227,684 880,712 777,330 Non-Medical 9,453 8,258 27,352 27,153 Total sales $ 305,574 $ 235,942 $ 908,064 $ 804,483
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents income for the Company’s reportable segments (in thousands): Three Months Ended Nine Months Ended October 1, October 2, October 1, October 2, Segment income: Medical $ 52,347 $ 28,777 $ 164,311 $ 120,903 Non-Medical 2,016 1,214 5,374 4,894 Total segment income 54,363 29,991 169,685 125,797 Unallocated operating income (expenses) (a) (21,273) 9,767 (62,637) (32,778) Operating income 33,090 39,758 107,048 93,019 Unallocated expenses, net (9,911) (8,358) (28,113) (24,815) Income before taxes $ 23,179 $ 31,400 $ 78,935 $ 68,204 __________ (a) Unallocated operating income (expenses) for the three and nine months ended October 2, 2020 includes a net gain of $28.2 million related to a patent litigation judgment.

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	9 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The following tables present 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 October 1, 2021 October 2, 2020 Customer Medical Non-Medical Medical Non-Medical Customer A 17% * 16% * Customer B 17% * 17% * Customer C 14% * 17% * Customer D * 38% * 25% Customer F * * * 11% All other customers 52% 62% 50% 64% Nine Months Ended October 1, 2021 October 2, 2020 Customer Medical Non-Medical Medical Non-Medical Customer A 20% * 20% * Customer B 17% * 16% * Customer C 14% * 15% * Customer D * 34% * 22% Customer E * * * 11% All other customers 49% 66% 49% 67% __________ * Less than 10% of segment’s total revenues for the period.
Schedule of Revenue by Ship To Location	The following tables present 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 October 1, 2021 October 2, 2020 Ship to Location Medical Non-Medical Medical Non-Medical United States 56% 68% 58% 66% South Korea * * * 11% All other countries 44% 32% 42% 23% (15.) REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued) Nine Months Ended October 1, 2021 October 2, 2020 Ship to Location Medical Non-Medical Medical Non-Medical United States 54% 69% 56% 54% Canada * * * 11% United Kingdom * * * 10% All other countries 46% 31% 44% 25% __________ * Less than 10% of segment’s total revenues for the period.
Schedule of Contract with Customer, Asset and Liability	The opening and closing balances of the Company’s contract assets and contract liabilities are as follows (in thousands): October 1, December 31, Contract assets $ 59,440 $ 40,218 Contract liabilities 2,865 2,498

Business Acquisition (Acquisiti

Business Acquisition (Acquisition of Assets from InoMec Narrative) (Details) - USD ($)	Feb. 19, 2020	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill			$ 849,686,000		$ 859,442,000
InoMec Ltd
Business Acquisition [Line Items]
Consideration transferred	$ 7,000,000
Payments to acquire business	5,300,000
Fair value of contingent consideration recognized	1,700,000
Contingent consideration, range of outcomes, value, high	$ 3,500,000		6,750,000		$ 9,000,000
Contingent consideration payment period	4 years
Intangible assets acquired	$ 2,000,000
Goodwill	4,800,000
Property, plant and equipment acquired	300,000
Other working capital items acquired	$ 100,000
Acquired finite-lived intangible assets, weighted average useful life	5 years 10 months 24 days
InoMec Ltd | Other operating expenses
Business Acquisition [Line Items]
Acquisition related costs		$ 100,000	$ 0	$ 900,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Noncash investing and financing activities:
Property, plant and equipment purchases included in accounts payable	$ 4,311	$ 3,756
Debt issuance costs incurred but not yet paid	1,713	0
Supplemental lease disclosures:
Operating lease assets obtained in exchange for new or remeasured operating lease liabilities	$ 7,772	$ 8,139

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 65,108	$ 72,477
Work-in-process	73,556	58,806
Finished goods	10,571	18,040
Total	$ 149,235	$ 149,323

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net (Schedule of Goodwill) (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2021USD ($)
Goodwill [Roll Forward]
Opening goodwill	$ 859,442
Foreign currency translation	(9,756)
Closing goodwill	849,686
Medical
Goodwill [Roll Forward]
Opening goodwill	842,442
Foreign currency translation	(9,756)
Closing goodwill	832,686
Non-Medical
Goodwill [Roll Forward]
Opening goodwill	17,000
Foreign currency translation	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	Oct. 01, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 972,190	$ 985,386
Accumulated Amortization	(346,418)	(318,450)
Net Carrying Amount	625,772	666,936
Trademarks and tradenames
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived	90,288	90,288
Purchased technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	254,924	257,453
Accumulated Amortization	(161,375)	(152,798)
Net Carrying Amount	93,549	104,655
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	713,126	723,791
Accumulated Amortization	(181,009)	(161,856)
Net Carrying Amount	532,117	561,935
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,140	4,142
Accumulated Amortization	(4,034)	(3,796)
Net Carrying Amount	$ 106	$ 346

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 10,284	$ 10,299	$ 31,073	$ 30,894
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	3,216	3,219	9,717	9,660
Selling, general and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 7,068	$ 7,080	$ 21,356	$ 21,234

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Oct. 01, 2021USD ($)
Amortization Expense
Remainder of 2021	$ 10,240
2022	40,010
2023	38,595
2024	37,646
2025	36,336
After 2025	$ 462,945

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Unamortized discount on term loan B and debt issuance costs	$ (6,645)	$ (6,715)
Total debt	630,655	731,258
Current portion of long-term debt	(20,250)	(37,500)
Total long-term debt	610,405	693,758
Secured Debt | Senior secured term loan A
Debt Instrument [Line Items]
Long-term debt, gross	250,000	229,687
Secured Debt | Senior secured term loan B
Debt Instrument [Line Items]
Long-term debt, gross	350,000	508,286
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	37,300	$ 0
Unamortized discount on term loan B and debt issuance costs	$ (1,200)

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Sep. 02, 2021USD ($)	Dec. 31, 2021	Oct. 01, 2021USD ($)	Oct. 01, 2021USD ($)	Sep. 01, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 1,000,000,000
Unamortized debt issuance costs			$ 6,645,000	$ 6,645,000		$ 6,715,000
Secured Debt | Senior secured term loan A
Debt Instrument [Line Items]
Debt instrument term	5 years
Debt weighted average interest rate			1.83%	1.83%
Secured Debt | Senior secured term loan B
Debt Instrument [Line Items]
Debt instrument term	7 years
Discount percentage	0.50%
Debt weighted average interest rate			3.00%	3.00%
Write off of debt issuance cost				$ 500,000
Original issue discount	$ 1,800,000
Secured Debt | Senior secured term loan B | Base rate
Debt Instrument [Line Items]
Variable rate basis spread				1.50%
Secured Debt | Senior secured term loan B | London Interbank Offered Rate One- Month (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread				2.50%
Interest rate floor				0.50%
Loans Payable
Debt Instrument [Line Items]
Debt issuance costs	8,800,000
Loans Payable | Long-term Debt
Debt Instrument [Line Items]
Debt issuance costs	6,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt weighted average interest rate			1.83%	1.83%
Revolving Credit Facility | Other Assets
Debt Instrument [Line Items]
Debt issuance costs	2,800,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 400,000,000				$ 1,600,000,000
Debt instrument term	5 years
Remaining borrowing capacity			$ 357,000,000	$ 357,000,000
Outstanding amount			37,300,000	$ 37,300,000
Commitment fee on unused portion				0.20%
Unamortized debt issuance costs			$ 1,200,000	$ 1,200,000
Write off of debt issuance cost				$ 3,300,000
Revolving Credit Facility | Line of Credit | Senior secured term loan A | London Interbank Offered Rate One- Month (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread				1.00%
Revolving Credit Facility | Line of Credit | Senior secured term loan A | Federal funds rate
Debt Instrument [Line Items]
Variable rate basis spread				0.50%
Revolving Credit Facility | Secured Debt | Senior secured term loan A
Debt Instrument [Line Items]
Net leverage ratio incremental increase option			5.50	5.50
Interest expense ratio				2.50
Revolving Credit Facility | Secured Debt | Senior secured term loan A | Forecast
Debt Instrument [Line Items]
Net leverage ratio incremental increase option		5
Swingline loans | Line of Credit
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 40,000,000	$ 40,000,000
Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit outstanding amount			$ 5,700,000	$ 5,700,000
Minimum | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Commitment fee on unused portion				0.15%
Minimum | Revolving Credit Facility | Line of Credit | London Interbank Offered Rate One- Month (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread				1.25%
Minimum | Revolving Credit Facility | Line of Credit | Senior secured term loan A | Base rate
Debt Instrument [Line Items]
Variable rate basis spread				0.25%
Maximum | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Commitment fee on unused portion				0.25%
Maximum | Revolving Credit Facility | Line of Credit | London Interbank Offered Rate One- Month (LIBOR)
Debt Instrument [Line Items]
Variable rate basis spread				2.25%
Maximum | Revolving Credit Facility | Line of Credit | Senior secured term loan A | Base rate
Debt Instrument [Line Items]
Variable rate basis spread				1.25%

Debt (Long-term Debt Maturity S

Debt (Long-term Debt Maturity Schedule) (Details) $ in Thousands	Oct. 01, 2021USD ($)
Debt Disclosure [Abstract]
2021	$ 5,063
2022	20,250
2023	21,812
2024	28,063
2025	32,750
After 2025	$ 529,362

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	9 Months Ended
	Oct. 01, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance (in shares)	1,450,000
Time-vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years

Stock-Based Compensation (Alloc

Stock-Based Compensation (Allocation of Recognized Period Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 3,282	$ 2,987	$ 12,235	$ 6,229
Cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	649	530	2,586	1,214
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	2,177	2,319	8,747	4,608
Research, development and engineering
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	302	138	748	407
Other operating expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	154	0	154	0
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	0	10	0	33
RSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 3,282	$ 2,977	$ 12,235	$ 6,196

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options Activity) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Oct. 01, 2021USD ($)$ / sharesshares
Number of Stock Options
Options outstanding, beginning balance (in shares) | shares	281,873
Exercised (in shares) | shares	(27,002)
Options outstanding, ending balance (in shares) | shares	254,871
Options exercisable at period end (in shares) | shares	254,871
Weighted Average Exercise Price
Options outstanding, beginning (in dollars per share) | $ / shares	$ 36.05
Exercised (in dollars per share) | $ / shares	22.01
Options outstanding, ending (in dollars per share) | $ / shares	37.53
Options exercisable at period end (in dollars per share) | $ / shares	$ 37.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average remaining contractual life	4 years 3 months 18 days
Options exercisable, weighted average remaining contractual life	4 years 3 months 18 days
Options outstanding, intrinsic value | $	$ 13.9
Options exercisable, intrinsic value | $	$ 13.9

Stock-Based Compensation (Valua

Stock-Based Compensation (Valuation Assumptions) (Details) - PRSUs - $ / shares	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 85.16	$ 107.42
Risk-free interest rate	0.19%	1.53%
Expected volatility	41.00%	30.00%
Expected life (in years)	3 years	2 years 10 months 24 days
Expected dividend yield	0.00%	0.00%
Weighted average illiquidity discount	8.19%	8.00%

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock and Restricted Stock Units Activity) (Details)	9 Months Ended
	Oct. 01, 2021$ / sharesshares
Time-vested RSUs
Restricted Stock and Restricted Stock Unit Activity
Nonvested, beginning (in shares) | shares	207,923
Granted (in shares) | shares	190,143
Vested (in shares) | shares	(90,740)
Forfeited (in shares) | shares	(15,912)
Nonvested, ending (in shares) | shares	291,414
Restricted Stock and Restricted Stock Unit Weighted Average Fair Value
Nonvested, beginning (in dollars per share) | $ / shares	$ 75.38
Granted (in dollars per share) | $ / shares	82.20
Vested (in dollars per share) | $ / shares	66.97
Forfeited (in dollars per share) | $ / shares	79.59
Nonvested, ending (in dollars per share) | $ / shares	$ 82.22
PRSUs
Restricted Stock and Restricted Stock Unit Activity
Nonvested, beginning (in shares) | shares	219,391
Granted (in shares) | shares	92,345
Vested (in shares) | shares	(38,882)
Forfeited (in shares) | shares	(69,333)
Nonvested, ending (in shares) | shares	203,521
Restricted Stock and Restricted Stock Unit Weighted Average Fair Value
Nonvested, beginning (in dollars per share) | $ / shares	$ 72.33
Granted (in dollars per share) | $ / shares	85.16
Vested (in dollars per share) | $ / shares	37.75
Forfeited (in dollars per share) | $ / shares	51.16
Nonvested, ending (in dollars per share) | $ / shares	$ 91.97

Other Operating Expenses (Sched

Other Operating Expenses (Schedule of Other Operating Cost and Expense By Component) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Restructuring Cost and Reserve [Line Items]
Acquisition and integration	$ 182	$ 107	$ 292	$ 510
Other general expenses	554	1,673	793	3,936
Other operating expenses	2,463	2,674	3,657	7,631
Operational excellence initiatives
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,727	858	2,572	2,275
Strategic reorganization and alignment
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0	0	0	686
Manufacturing alignment to support growth
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 36	$ 0	$ 224

Other Operating Expenses (Narra

Other Operating Expenses (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Strategic reorganization and alignment | Medical
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	$ 23
Manufacturing alignment to support growth
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	5.8
Employee Severance | Operational Excellence Initiatives, 2021 Initiatives
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	2.3
Employee Severance | Operational Excellence Initiatives, 2020 Initiatives
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	3.1
Minimum | Employee Severance | Operational Excellence Initiatives, 2021 Initiatives
Restructuring Cost and Reserve [Line Items]
Expected costs	3
Maximum | Employee Severance | Operational Excellence Initiatives, 2021 Initiatives
Restructuring Cost and Reserve [Line Items]
Expected costs	4
InoMec Ltd And US BioDesign LLC
Restructuring Cost and Reserve [Line Items]
Acquisition related costs	$ 0.1	$ 1
US BioDesign LLC
Restructuring Cost and Reserve [Line Items]
Acquisition-related contingent consideration, fair value reduction		$ 0.5

Other Operating Expenses (Sch_2

Other Operating Expenses (Schedule of Restructuring Reserve By Type of Cost) (Details) - Operational excellence initiatives $ in Thousands	9 Months Ended
	Oct. 01, 2021USD ($)
Operational excellence initiatives
Beginning balance	$ 291
Charges incurred, net of reversals	1,927
Cash payments	(928)
Ending balance	$ 1,290

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	4.80%	3.40%	7.50%	9.30%
Income before provision for income taxes	$ 23,179	$ 31,400	$ 78,935	$ 68,204
Discrete tax benefits	1,600	$ 4,900	6,100	$ 5,900
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit	3,500		3,500
Unrecognized tax benefits	4,400		4,400
Unrecognized tax benefits that would impact effective tax rate	4,400		4,400
Accrued payroll taxes	$ 9,700		$ 9,700		$ 9,700

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2020	Dec. 31, 2020	Oct. 02, 2020	Oct. 02, 2020
Commitments and Contingencies Disclosure [Abstract]
Proceeds from legal settlements	$ 28.9
Gain on litigation settlement		$ 28.2	$ 28.2	$ 28.2

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Product Warranty Liability) (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2021USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 163
Additions to warranty reserve, net of reversals	(10)
Adjustments to pre-existing warranties	(71)
Balance at end of period	$ 82

Earnings Per Share (_EPS_) (Det

Earnings Per Share (“EPS”) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Numerator for basic and diluted EPS:
Net income	$ 22,066	$ 30,342	$ 73,019	$ 61,831
Denominator for basic and diluted EPS:
Weighted average shares outstanding - Basic (in shares)	33,008	32,859	32,982	32,833
Dilutive effect of share-based awards (in shares)	301	217	268	274
Weighted average shares outstanding - Diluted (in shares)	33,309	33,076	33,250	33,107
Basic EPS (in dollars per share)	$ 0.67	$ 0.92	$ 2.21	$ 1.88
Diluted EPS (in dollars per share)	$ 0.66	$ 0.92	$ 2.20	$ 1.87
Time-vested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)	1	145	4	134
PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)	83	167	70	93

Stockholders' Equity (Shares Is

Stockholders' Equity (Shares Issued and Outstanding) (Details) - shares	9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Class Of Stock [Roll Forward]
Balance, beginning of period (in shares)	32,908,178
Shares outstanding beginning balance (in shares)	32,908,178	32,700,471
Stock options exercised (in shares)	27,002	95,923
Balance, end of period (in shares)	33,016,984
Shares outstanding ending balance (in shares)	33,016,984	32,875,166
Issued
Class Of Stock [Roll Forward]
Balance, beginning of period (in shares)	32,908,178	32,847,017
Stock options exercised (in shares)	27,002	21,327
Balance, end of period (in shares)	33,016,984	32,875,166
Treasury Stock
Class Of Stock [Roll Forward]
Balance, beginning of period (in shares)	0	146,546
Stock options exercised (in shares)	0	74,596
Balance, end of period (in shares)	0	0
Restricted Stock
Class Of Stock [Roll Forward]
Vesting of RSUs, net of shares withheld to cover taxes (in shares)	81,804	78,772
Restricted Stock | Issued
Class Of Stock [Roll Forward]
Vesting of RSUs, net of shares withheld to cover taxes (in shares)	81,804	6,822
Restricted Stock | Treasury Stock
Class Of Stock [Roll Forward]
Vesting of RSUs, net of shares withheld to cover taxes (in shares)	0	71,950

Stockholders' Equity (Accumulat

Stockholders' Equity (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 1,314,572	$ 1,181,401	$ 1,271,055	$ 1,152,488
Unrealized gain (loss) on cash flow hedges, net of tax	(242)	447	(798)	(7,438)
Foreign currency translation gain (loss), net of tax	(7,836)	16,387	(21,716)	17,303
Balance, ending balance	1,332,253	1,232,997	1,332,253	1,232,997
Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, net of tax	(162)	66	(1,070)	448
Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, net of tax	461	842	2,064	1,920
Defined Benefit Plan Liability
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(1,095)	(912)	(1,095)	(912)
Balance, ending balance	(1,095)	(912)	(1,095)	(912)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(4,780)	(10,491)	(4,956)	(2,358)
Unrealized gain (loss) on cash flow hedges, pretax	(306)	565	(1,010)	(9,416)
Balance, ending balance	(4,708)	(8,776)	(4,708)	(8,776)
Cash Flow Hedges | Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, pretax	(206)	84	(1,355)	567
Cash Flow Hedges | Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, pretax	584	1,066	2,613	2,431
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	43,666	23,555	57,546	22,639
Foreign currency translation gain (loss), pretax	(7,836)	16,387	(21,716)	17,303
Foreign currency translation gain (loss), tax	0	0	0	0
Balance, ending balance	35,830	39,942	35,830	39,942
Total Pre-Tax Amount
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	37,791	12,152	51,495	19,369
Unrealized gain (loss) on cash flow hedges, pretax	(306)	565	(1,010)	(9,416)
Balance, ending balance	30,027	30,254	30,027	30,254
Total Pre-Tax Amount | Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, pretax	(206)	84	(1,355)	567
Total Pre-Tax Amount | Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, pretax	584	1,066	2,613	2,431
Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	1,160	2,327	1,197	619
Unrealized gain (loss) on cash flow hedges, tax	64	(118)	212	1,978
Balance, ending balance	1,145	1,967	1,145	1,967
Tax | Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, tax	44	(18)	285	(119)
Tax | Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Realized gain (loss) hedges, tax	(123)	(224)	(549)	(511)
Net-of-Tax Amount
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	38,951	14,479	52,692	19,988
Balance, ending balance	$ 31,172	$ 32,221	$ 31,172	$ 32,221

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Assets and Liabilities Recorded at Fair Value on a Recurring Basis) (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Oct. 01, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Foreign currency contracts	$ 115	$ 2,070
Liabilities: Foreign currency contracts	420
Liabilities: Interest rate swap	4,403	7,026
Liabilities: Contingent consideration	2,282	3,900
Quoted Prices in Active Markets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Foreign currency contracts	0	0
Liabilities: Foreign currency contracts	0
Liabilities: Interest rate swap	0	0
Liabilities: Contingent consideration	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Foreign currency contracts	115	2,070
Liabilities: Foreign currency contracts	420
Liabilities: Interest rate swap	4,403	7,026
Liabilities: Contingent consideration	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Foreign currency contracts	0	0
Liabilities: Foreign currency contracts	0
Liabilities: Interest rate swap	0	0
Liabilities: Contingent consideration	$ 2,282	$ 3,900

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements (Schedule of Interest Rate Swaps) (Details) - Interest Rate Swap Maturing June 2023 - Other long-term liabilities - Designated as Hedging Instrument - USD ($)	Oct. 01, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000,000	$ 200,000,000
Pay Fixed Rate	2.1785%	2.1785%
Receive Current Floating Rate	0.086%	0.148%
Fair Value	$ (4,403,000)	$ (7,026,000)

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements (Schedule of Foreign Currency Contracts) (Details) - Prepaid expenses and other current assets - Designated as Hedging Instrument $ in Thousands	Oct. 01, 2021USD ($)$ / $$ / $$ / €	Dec. 31, 2020USD ($)$ / $$ / $$ / €
Foreign Exchange Contract Maturing November 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 665	$ 3,966
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0222	0.0227
Fair Value	$ 34	$ 166
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 1,015	$ 7,269
$/Foreign currency (in dollars per foreign currency)	0.0226	0.0485
Fair Value	$ 32	$ 77
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 999
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0222
Fair Value	$ 49
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 2,155
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0479
Fair Value	$ 31
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 3,669
$/Foreign currency (in dollars per foreign currency) | $ / €	1.2230
Fair Value	$ (185)
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 3,648
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0486
Fair Value	$ (5)
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 3,674
$/Foreign currency (in dollars per foreign currency) | $ / €	1.2245
Fair Value	$ (190)
Foreign Exchange Contract Maturing December 2021
Derivatives, Fair Value [Line Items]
Notional Amount	$ 4,444
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0494
Fair Value	$ (71)
Foreign Exchange Contract Maturing September 2021
Derivatives, Fair Value [Line Items]
Notional Amount		$ 16,132
$/Foreign currency (in dollars per foreign currency) | $ / €		1.1949
Fair Value		$ 399
Foreign Exchange Contract Maturing September 2021
Derivatives, Fair Value [Line Items]
Notional Amount		$ 10,224
$/Foreign currency (in dollars per foreign currency) | $ / $		0.0454
Fair Value		$ 922
Foreign Exchange Contract Maturing March 2021
Derivatives, Fair Value [Line Items]
Notional Amount		$ 2,656
$/Foreign currency (in dollars per foreign currency) | $ / $		0.0443
Fair Value		$ 341
Foreign Exchange Contract Maturing August 2021
Derivatives, Fair Value [Line Items]
Notional Amount		$ 3,252
$/Foreign currency (in dollars per foreign currency) | $ / $		0.0232
Fair Value		$ 165

Financial Instruments and Fai_6

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		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total sales	$ 305,574	$ 235,942	$ 908,064	$ 804,483
Cost of sales	223,702	178,009	652,960	591,985
Operating expenses	48,782	18,175	148,056	119,479
Interest expense	10,053	9,368	26,117	29,002
Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(240)	590	(203)	549
Sales | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	(239)	68	(977)	277
Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	434	(651)	1,508	(1,059)
Cost of sales | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	(235)	451	(69)	(2,277)
Operating expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	12	(23)	50	(57)
Operating expenses | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	49	57	26	(15)
Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(584)	(1,066)	(2,613)	(2,431)
Interest expense | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	$ 119	$ (11)	$ 10	$ (7,401)

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2021	Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative instruments net loss to be reclassified to net income during next twelve months	$ 3.4
Accrued expenses and other current liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, current	1	$ 1.7
Other long-term liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, noncurrent	$ 1.3	$ 2.2
Chinese Venture Capital Fund
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity method investment ownership	6.60%

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements (Estimated Fair Values for Contingent Consideration) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 2,281	$ 5,887	$ 3,900	$ 4,200
Amount recorded for acquisitions	0	0	0	2,700
Fair value measurement adjustment	0	0	0	(500)
Payments	0	(500)	(1,621)	(1,000)
Foreign currency translation	1	14	3	1
Balance at end of period	$ 2,282	$ 5,401	$ 2,282	$ 5,401

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements (Contingent Consideration Measurement Inputs) (Details) $ in Thousands	Oct. 01, 2021USD ($)	Dec. 31, 2020USD ($)	Feb. 19, 2020USD ($)
InoMec Ltd
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, maximum payout (undiscounted)	$ 6,750	$ 9,000	$ 3,500
Fair Value, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, fair value	$ 2,282	$ 3,900
Fair Value, Recurring | Revenue volatility | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.350	0.350
Fair Value, Recurring | Discount rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.040	0.040

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements (Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Equity method investment	$ 17,627		$ 17,627		$ 21,470
Non-marketable equity securities	5,723		5,723		5,723
Total equity investments	23,350		23,350		$ 27,193
Equity method investment (gain) loss	$ (152)	$ (2,234)	$ 1,867	$ (3,954)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	9 Months Ended
	Oct. 01, 2021segment
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		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 305,574	$ 235,942	$ 908,064	$ 804,483
Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	296,121	227,684	880,712	777,330
Operating Segments | Medical | Cardio & Vascular
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	160,858	124,596	462,632	432,885
Operating Segments | Medical | Cardiac & Neuromodulation
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	106,543	72,909	334,700	252,404
Operating Segments | Medical | Advanced Surgical, Orthopedics & Portable Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	28,720	30,179	83,380	92,041
Operating Segments | Non-Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 9,453	$ 8,258	$ 27,352	$ 27,153

Segment Information (Reconcil_2

Segment Information (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 01, 2021	Dec. 31, 2020	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Segment Reporting Information [Line Items]
Operating income	$ 33,090		$ 39,758	$ 107,048	$ 93,019
Unallocated expenses, net	(9,911)		(8,358)	(28,113)	(24,815)
Income before taxes	23,179		31,400	78,935	68,204
Gain related to litigation settlement		$ 28,200	28,200		28,200
Operating Segments
Segment Reporting Information [Line Items]
Operating income	54,363		29,991	169,685	125,797
Operating Segments | Medical
Segment Reporting Information [Line Items]
Operating income	52,347		28,777	164,311	120,903
Operating Segments | Non-Medical
Segment Reporting Information [Line Items]
Operating income	2,016		1,214	5,374	4,894
Segment Reconciling Items
Segment Reporting Information [Line Items]
Operating income	$ (21,273)		$ 9,767	$ (62,637)	$ (32,778)

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Revenue from Contract with Customer [Abstract]
Percent of revenue from contract with customer compared to total revenue	33.00%	30.00%	34.00%	29.00%
Contract with customer, asset, cumulative catch-up adjustment to revenue, modification of contract			$ 19.2
Revenue recognized that was included in contract liability balance at beginning of period	$ 0.3	$ 0.2	$ 1.4	$ 1.3

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		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Medical | Customer A
Disaggregation of Revenue [Line Items]
Concentration risk percentage	17.00%	16.00%	20.00%	20.00%
Medical | Customer B
Disaggregation of Revenue [Line Items]
Concentration risk percentage	17.00%	17.00%	17.00%	16.00%
Medical | Customer C
Disaggregation of Revenue [Line Items]
Concentration risk percentage	14.00%	17.00%	14.00%	15.00%
Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	52.00%	50.00%	49.00%	49.00%
Non-Medical | Customer D
Disaggregation of Revenue [Line Items]
Concentration risk percentage	38.00%	25.00%	34.00%	22.00%
Non-Medical | Customer E
Disaggregation of Revenue [Line Items]
Concentration risk percentage				11.00%
Non-Medical | Customer F
Disaggregation of Revenue [Line Items]
Concentration risk percentage				11.00%
Non-Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	62.00%	64.00%	66.00%	67.00%

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		9 Months Ended
	Oct. 01, 2021	Oct. 02, 2020	Oct. 01, 2021	Oct. 02, 2020
Medical Segment | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	56.00%	58.00%	54.00%	56.00%
Medical Segment | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	44.00%	42.00%	46.00%	44.00%
Non-Medical Segment | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	68.00%	66.00%	69.00%	54.00%
Non-Medical Segment | South Korea
Disaggregation of Revenue [Line Items]
Concentration risk percentage		11.00%
Non-Medical Segment | Canada
Disaggregation of Revenue [Line Items]
Concentration risk percentage				11.00%
Non-Medical Segment | United Kingdom
Disaggregation of Revenue [Line Items]
Concentration risk percentage				10.00%
Non-Medical Segment | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	32.00%	23.00%	31.00%	25.00%

Revenue From Contracts With C_6

Revenue From Contracts With Customers Contract with Customer (Assets and Liability) (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 59,440	$ 40,218
Contract liabilities	$ 2,865	$ 2,498

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Millions	Oct. 27, 2021USD ($)
Subsequent Event | Oscor
Subsequent Event [Line Items]
Payments to acquire business	$ 220