Integer (ITGR) 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 01, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 01, 2022
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)		33,122,853
Entity Central Index Key	0001114483
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 15,593	$ 17,885
Accounts receivable, net of provision for credit losses of $0.2 million and $0.1 million, respectively	221,939	182,310
Inventories	194,458	155,699
Refundable income taxes	4,627	4,735
Contract assets	70,408	64,743
Prepaid expenses and other current assets	25,988	27,610
Total current assets	533,013	452,982
Property, plant and equipment, net	280,461	277,099
Goodwill	978,559	924,704
Other intangible assets, net	841,122	807,810
Deferred income taxes	6,149	5,711
Operating lease assets	75,777	70,053
Other long-term assets	43,006	43,856
Total assets	2,758,087	2,582,215
Current liabilities:
Current portion of long-term debt	15,250	15,250
Accounts payable	103,111	76,859
Income taxes payable	259	725
Operating lease liabilities	10,762	9,862
Accrued expenses and other current liabilities	68,344	56,933
Total current liabilities	197,726	159,629
Long-term debt	931,889	812,876
Deferred income taxes	178,695	171,505
Operating lease liabilities	64,436	59,767
Other long-term liabilities	21,890	23,741
Total liabilities	1,394,636	1,227,518
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 33,121,833 and 33,063,336 shares issued and outstanding, respectively	33	33
Additional paid-in capital	722,175	713,150
Retained earnings	646,527	614,324
Accumulated other comprehensive income (loss)	(5,284)	27,190
Total stockholders’ equity	1,363,451	1,354,697
Total liabilities and stockholders’ equity	$ 2,758,087	$ 2,582,215

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jul. 01, 2022	Dec. 31, 2021
Current assets:
Allowance for doubtful accounts	$ 0.2	$ 0.1
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)	33,121,833	33,063,336
Common stock, shares outstanding (in shares)	33,121,833	33,063,336

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Income Statement [Abstract]
Sales	$ 350,081	$ 312,023	$ 660,993	$ 602,490
Cost of sales	257,184	223,277	486,621	429,258
Gross profit	92,897	88,746	174,372	173,232
Operating expenses:
Selling, general and administrative	41,786	35,379	81,346	70,881
Research, development and engineering	14,871	13,738	30,954	27,199
Restructuring and other charges	3,533	279	6,868	1,194
Total operating expenses	60,190	49,396	119,168	99,274
Operating income	32,707	39,350	55,204	73,958
Interest expense	7,773	7,532	13,741	16,064
Loss on equity investments	320	684	2,724	2,019
Other loss, net	191	356	368	119
Income before taxes	24,423	30,778	38,371	55,756
Provision for income taxes	3,587	1,345	6,168	4,803
Net income	$ 20,836	$ 29,433	$ 32,203	$ 50,953
Earnings per share:
Basic (in dollars per share)	$ 0.63	$ 0.89	$ 0.97	$ 1.55
Diluted (in dollars per share)	$ 0.62	$ 0.89	$ 0.97	$ 1.53
Weighted average shares outstanding:
Basic (in shares)	33,111	32,982	33,101	32,970
Diluted (in shares)	33,350	33,254	33,326	33,221
Comprehensive Income (Loss)
Net income	$ 20,836	$ 29,433	$ 32,203	$ 50,953
Other comprehensive income (loss):
Foreign currency translation gain (loss)	(27,274)	2,484	(35,161)	(13,880)
Change in fair value of cash flow hedges, net of tax	(47)	845	2,687	139
Other comprehensive income (loss), net of tax	(27,321)	3,329	(32,474)	(13,741)
Comprehensive income (loss), net of tax	$ (6,485)	$ 32,762	$ (271)	$ 37,212

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Cash flows from operating activities:
Net income	$ 32,203	$ 50,953
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	45,753	40,419
Debt related charges included in interest expense	962	2,446
Inventory step-up amortization	798	0
Stock-based compensation	10,951	8,953
Non-cash lease expense	5,344	3,947
Non-cash loss on equity investments	2,724	2,019
Other non-cash losses	7,510	29
Deferred income taxes	(969)	(242)
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(37,642)	(19,141)
Inventories	(41,471)	898
Prepaid expenses and other assets	(783)	(2,604)
Contract assets	(6,189)	(16,792)
Accounts payable	25,554	16,937
Accrued expenses and other liabilities	(7,295)	(13,737)
Income taxes	(439)	(5,298)
Net cash provided by operating activities	37,011	68,787
Cash flows from investing activities:
Acquisition of property, plant and equipment	(22,610)	(18,416)
Proceeds from sale of property, plant and equipment	587	15
Acquisitions, net	(126,636)	0
Net cash used in investing activities	(148,659)	(18,401)
Cash flows from financing activities:
Principal payments of term loans	(7,625)	(64,750)
Proceeds from revolving credit facility	160,000	0
Payments of revolving credit facility	(34,000)	0
Proceeds from the exercise of stock options	0	340
Payment of debt issuance costs	0	(141)
Tax withholdings related to net share settlements of restricted stock unit awards	(1,926)	(2,988)
Contingent consideration payments	(493)	(1,621)
Principal payments on finance leases	(353)	(24)
Net cash provided by (used in) financing activities	115,603	(69,184)
Effect of foreign currency exchange rates on cash and cash equivalents	(6,247)	173
Net decrease in cash and cash equivalents	(2,292)	(18,625)
Cash and cash equivalents, beginning of period	17,885	49,206
Cash and cash equivalents, end of period	$ 15,593	$ 30,581

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock and additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)
Balance, beginning of period at Dec. 31, 2020	$ 1,271,055	$ 700,847	$ 517,516	$ 52,692
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(2,648)
Stock-based compensation		8,953
Net income	50,953		50,953
Other comprehensive income (loss)	(13,741)			(13,741)
Balance, ending balance at Jul. 02, 2021	1,314,572	707,152	568,469	38,951
Balance, beginning of period at Apr. 02, 2021	1,277,724	703,066	539,036	35,622
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(163)
Stock-based compensation		4,249
Net income	29,433		29,433
Other comprehensive income (loss)	3,329			3,329
Balance, ending balance at Jul. 02, 2021	1,314,572	707,152	568,469	38,951
Balance, beginning of period at Dec. 31, 2021	1,354,697	713,183	614,324	27,190
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(1,926)
Stock-based compensation		10,951
Net income	32,203		32,203
Other comprehensive income (loss)	(32,474)			(32,474)
Balance, ending balance at Jul. 01, 2022	1,363,451	722,208	646,527	(5,284)
Balance, beginning of period at Apr. 01, 2022	1,364,350	716,622	625,691	22,037
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock awards exercised or vested		(370)
Stock-based compensation		5,956
Net income	20,836		20,836
Other comprehensive income (loss)	(27,321)			(27,321)
Balance, ending balance at Jul. 01, 2022	$ 1,363,451	$ 722,208	$ 646,527	$ (5,284)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 01, 2022
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 a medical device outsource manufacturer 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 accompanying condensed consolidated financial statements are presented in accordance with the rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") and do not include all of the disclosures normally required by U.S. generally accepted accounting principles (“U.S. GAAP”) as contained in the Company’s Annual Report on Form 10-K. Accordingly, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2021 . 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. The results for interim periods are not necessarily indicative of results or trends that may be expected for the fiscal year as a whole. The condensed consolidated financial statements were prepared using U.S. GAAP, which require 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. The second quarter and first six months of 2022 ended on July 1 and consisted of 91 days and 182 days, respectively. The second quarter and first six months of 2021 ended on July 2 and consisted of 91 days and 183 days, respectively. Reclassifications Certain prior period amounts have been reclassified to conform to current year presentation. Refer to Note 5, “Goodwill and Other Intangibles, Net,” for a description of the changes made to the Company’s prior period definite-lived asset classification to reflect the current year presentation. Refer to Note 14, “Segment Information,” for a description of the changes made to the Company’s prior period product line sales classification to reflect the current year presentation. Risks and Uncertainties Significant uncertainty remains as to the potential impact of the COVID-19 pandemic on the Company’s operations, and on the global economy. Specific impacts to the Company’s business included and continue to 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 Company is uncertain of the future impact of the ongoing COVID-19 pandemic or recovery of prior deterioration in economic conditions to its sales channels, supply chain, manufacturing, and distribution. Additionally, the current conflict between Russia and Ukraine and the related sanctions and other penalties imposed by countries across the globe against Russia are creating substantial uncertainty in the global economy. While the Company does not have operations in Russia or Ukraine and does not have significant direct exposure to customers and vendors in those countries, it is unable to predict the impact that these actions will have on the global economy or on the Company’s financial condition, results of operations, and cash flows as of the date of these financial statements. 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, 2021, that are of significance, or potential significance, to the Company.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jul. 01, 2022
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITIONS	BUSINESS ACQUISITIONS 2022 Acquisition On April 6, 2022, the Company acquired 100% of the equity interests of Connemara Biomedical Holdings Teoranta, including its operating subsidiaries Aran Biomedical and Proxy Biomedical (collectively “Aran”), a recognized leader in proprietary medical textiles, high precision biomaterial coverings and coatings as well as advanced metal and polymer braiding. Aran delivers development and manufacturing solutions for implantable medical devices. Consistent with the Company’s strategy, the combination with Aran further increases Integer’s ability to offer complete solutions for complex delivery and therapeutic devices in high growth cardiovascular markets such as structural heart, neurovascular, peripheral vascular, and endovascular as well as general surgery. The Company funded the purchase price with borrowings under its Revolving Credit Facility. Aran is included in the Company’s Medical segment. The total consideration transferred was $141.3 million, which includes an initial cash payment of $133.9 million ($129.3 million net of cash acquired) and $7.4 million in estimated fair value of contingent consideration. The contingent consideration represents the estimated fair value of the Company’s obligation, under the purchase agreement, to make additional payments of up to €10 million ($10.9 million at the exchange rate as of April 6, 2022) based on Aran’s achievement of 2022 revenue growth milestones. The contingent consideration will be paid after completion of the earn-out period ending December 31, 2022, in accordance with the terms of the share purchase agreement. See Note 13 “Financial Instruments and Fair Value Measurements” for additional information related to the fair value measurement of the contingent consideration. The Company has preliminarily estimated fair values for the assets purchased, liabilities assumed and purchase consideration as of the date of the acquisition. The determination of estimated fair value required management to make significant estimates and assumptions based on information that was available at the time the consolidated financial statements were prepared. The amounts reported are considered preliminary as the Company is completing the valuations that are required to allocate the purchase price in areas such as property and equipment, intangible assets, liabilities and goodwill. As a result, the allocation of the preliminary purchase price may change in the future, which could be material. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed (in thousands): Fair value of net assets acquired Current assets $ 9,319 Property, plant and equipment 4,151 Goodwill 68,460 Definite-lived intangible assets 71,485 Operating lease assets 3,505 Other noncurrent assets 1,354 Current liabilities (4,370) Operating lease liabilities (3,258) Other noncurrent liabilities (9,377) Fair value of net assets acquired $ 141,269 The goodwill resulting from the transaction is primarily attributable to future customer relationships and the assembled workforce of the acquired business. The goodwill acquired in connection with the Aran acquisition was allocated to the Medical segment and is not deductible for tax purposes. The breakout of definite-lived intangible assets acquired was as follows (dollars in thousands): Definite-lived Intangible Assets Fair Value Assigned Weighted Average Amortization Period Weighted Average Discount Rate Customer lists $ 53,395 26.0 9.5% Technology 17,435 12.0 9.5% Tradenames 655 1.5 9.5% $ 71,485 (2.) BUSINESS ACQUISITIONS (Continued) To determine the acquisition date estimated fair value of intangible assets acquired, the Company applied the income approach, specifically the multi-period excess earnings method for customer lists and the relief-from-royalty method for technology and tradenames. The significant assumptions used in these approaches include revenue growth rates and profit margins, terminal values, weighted-average cost of capital used to discount future cash flows, and a customer attrition rate for customer relationships and royalty rates for technology and tradenames. For additional information, see the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2021 for the methods and assumptions used to estimate the fair value of each class of net assets acquired. For segment reporting purposes, the results of operations from Aran have been included in the Company’s Medical segment since the acquisition date. Sales and earnings related to the operations of Aran for the three and six months ended July 1, 2022 were not material. 2021 Acquisition On December 1, 2021, the Company acquired 100% of the equity interests of Oscor Inc., Oscor Caribe, LLC and Oscor Europe GmbH (collectively “Oscor”), privately-held companies with operations in Florida, the Dominican Republic and Germany that design, develop, manufacture and market a comprehensive portfolio of highly specialized medical devices, venous access systems and diagnostic catheters and implantable devices. Serving the Company’s current markets, Oscor broadens the Company’s product portfolio, expands its research and development capabilities, and adds low-cost manufacturing capacity. The preliminary purchase price of Oscor is $215.2 million, including working capital and other closing adjustments of $5.2 million, which were settled in the second quarter of 2022. The Company used proceeds from its Senior Secured Credit Facilities to fund the acquisition. Oscor is included in the Company’s Medical segment. The goodwill is primarily associated with future customer relationships and an acquired assembled work force. The Company preliminarily estimated fair values for the assets purchased, liabilities assumed and purchase consideration as of the date of the acquisition. The determination of estimated fair value requires management to make significant estimates and assumptions based on information that is available at the time the consolidated financial statements are prepared. The Company recorded the preliminary purchase price allocation in the fourth quarter of 2021. During the first six months of 2022, the Company recorded measurement period adjustments, inclusive of working capital and other closing adjustments, resulting in increases to goodwill and current liabilities of $0.4 million and $2.3 million, respectively, and decreases to current assets (excluding inventory) and inventory of $2.5 million and $0.8 million, respectively. The preliminary purchase price allocation remains subject to measurement period adjustments. As a result, the allocation of the preliminary purchase price may change in the future. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed (in thousands): Fair value of net assets acquired Current assets (excluding inventory) $ 9,621 Inventory 11,360 Property, plant and equipment 17,977 Goodwill 78,302 Intangible assets 105,300 Operating lease assets 15,142 Other noncurrent assets 695 Current liabilities (11,143) Operating lease liabilities (12,044) Fair value of net assets acquired $ 215,210 (2.) BUSINESS ACQUISITIONS (Continued) Pro Forma (unaudited) disclosures The following table presents (in thousands) unaudited pro forma financial information as if Aran and Oscor had been included in the Company’s financial results as of the beginning of fiscal year 2021 and 2020, respectively, through the date of acquisition. The pro forma results include the historical results of operations of the Company, Aran and Oscor, as well as adjustments for additional amortization of the assets acquired, additional interest expense related to the financing of the transaction and other transactional adjustments. The pro forma results do not include efficiencies, cost reductions or synergies expected to result from the acquisition. These pro forma results do not purport to be indicative of the results that would have been obtained, or to be a projection of results that may be obtained in the future. Six Months Ended July 1, 2022 Three Months Ended July 2, 2021 Six Months Ended July 2, 2021 Sales $ 666,356 $ 332,360 $ 639,966 Net income 45,357 27,693 44,452 Acquisition costs During the three and six months ended July 1, 2022, direct costs of these acquisitions of $1.6 million and $2.8 million, respectively, were expensed as incurred and included in Restructuring and other charges in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jul. 01, 2022
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): Six Months Ended July 1, July 2, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 6,373 $ 4,364 Supplemental lease disclosures: Assets acquired under operating leases 11,265 7,435

Inventories

Inventories	6 Months Ended
	Jul. 01, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories comprise the following (in thousands): July 1, December 31, Raw materials $ 91,328 $ 70,956 Work-in-process 90,886 74,152 Finished goods 12,244 10,591 Total $ 194,458 $ 155,699

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Jul. 01, 2022
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 six months ended July 1, 2022 were as follows (in thousands): Medical Non- Medical Total December 31, 2021 $ 907,704 $ 17,000 $ 924,704 Acquisition (Note 2) 68,460 — 68,460 Acquisition-related adjustments (Note 2) 414 414 Foreign currency translation (15,019) — (15,019) July 1, 2022 $ 961,559 $ 17,000 $ 978,559 Intangible Assets The Company reclassified purchased tradenames with a net carrying value of $16.2 million from Purchased technology and patents as of December 31, 2021 to Amortizing tradenames and other to conform to the current period presentation. The Company made this reclassification to better align with the classification of amortization expense for similar assets. See Note 2 “Business Acquisitions” for additional details regarding intangible assets acquired during 2022. Intangible assets comprise the following (in thousands): Gross Accumulated Net July 1, 2022 Definite-lived: Purchased technology and patents $ 283,022 $ (170,380) $ 112,642 Customer lists 822,121 (200,119) 622,002 Amortizing tradenames and other 21,021 (4,831) 16,190 Total amortizing intangible assets $ 1,126,164 $ (375,330) $ 750,834 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2021 Definite-lived: Purchased technology and patents $ 269,359 $ (164,298) $ 105,061 Customer lists 783,618 (187,412) 596,206 Amortizing tradenames and other 20,462 (4,207) 16,255 Total amortizing intangible assets $ 1,073,439 $ (355,917) $ 717,522 Indefinite-lived: Trademarks and tradenames $ 90,288 Aggregate intangible asset amortization expense comprises the following (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Cost of sales $ 4,037 $ 3,233 $ 7,682 $ 6,501 Selling, general and administrative expenses 8,248 7,106 16,207 14,288 Total intangible asset amortization expense $ 12,285 $ 10,339 $ 23,889 $ 20,789 (5.) GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Continued) Estimated future intangible asset amortization expense based on the carrying value as of July 1, 2022 is as follows (in thousands): Remainder of 2022 2023 2024 2025 2026 After 2026 Amortization Expense $ 24,618 51,982 51,352 50,542 48,709 523,631

Debt

Debt	6 Months Ended
	Jul. 01, 2022
Debt Disclosure [Abstract]
DEBT	DEBT The Company has 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. Long-term debt related to the Senior Secured Credit Facilities as of July 1, 2022 and December 31, 2021, respectively, comprises the following (in thousands): July 1, December 31, Senior secured term loan A $ 461,188 $ 467,062 Senior secured term loan B 347,375 349,125 Senior secured revolving credit facility 145,300 19,300 Unamortized discount on term loan B and deferred debt issuance costs (6,724) (7,361) Total debt 947,139 828,126 Current portion of long-term debt (15,250) (15,250) Total long-term debt $ 931,889 $ 812,876 Revolving Credit Facility The Revolving Credit Facility matures on September 2, 2026 and includes a $40 million sublimit for swingline loans and standby letters of credit. As of July 1, 2022, the Company had available borrowing capacity on the Revolving Credit Facility of $249.2 million after giving effect to $145.3 million of outstanding borrowings and $5.5 million of outstanding standby letters of credit. Interest rates on the Revolving Credit 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 (as defined in the Senior Secured Credit Facilities agreement), 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 Senior Secured Credit Facilities 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 July 1, 2022, the interest rate on outstanding borrowings under the Revolving Credit Facility was 3.21%. 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 of July 1, 2022, the commitment fee on the unused portion of the Revolving Credit Facility was 0.18%. Term Loan Facilities The TLA Facility and TLB Facility mature on September 2, 2026 and September 2, 2028, respectively, and require quarterly installments. The quarterly principal installments under the TLA Facility increase over the term of the loan. The interest rate terms for the TLA Facility are the same as those outlined above for the Revolving Credit Facility. 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 July 1, 2022, the interest rates on the TLA Facility and TLB Facility were 3.17% and 4.17%, respectively. (6.) DEBT (Continued) Covenants The Senior Secured Credit Facilities 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 shall not 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 July 1, 2022, the Company was in compliance with these financial covenants. Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2022 and through maturity, excluding any discounts or premiums, as of July 1, 2022 are as follows (in thousands): Remainder of 2022 2023 2024 2025 2026 After 2026 Future minimum principal payments $ 7,625 18,187 29,938 38,750 527,738 331,625

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 01, 2022
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. Stock-based Compensation Expense The components and classification of stock-based compensation expense were as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, RSUs and PRSUs $ 5,956 $ 4,249 $ 10,951 $ 8,953 Total stock-based compensation expense $ 5,956 $ 4,249 $ 10,951 $ 8,953 Cost of sales $ 837 $ 823 $ 1,606 $ 1,937 Selling, general and administrative 4,308 3,215 7,853 6,570 Research, development and engineering 338 211 663 446 Restructuring and other charges 473 — 829 — Total stock-based compensation expense $ 5,956 $ 4,249 $ 10,951 $ 8,953 Stock Options The following table summarizes the Company’s stock option activity for the six month period ended July 1, 2022: Number of Weighted Weighted Aggregate Outstanding at December 31, 2021 247,640 $ 38.03 No activity — — Outstanding and exercisable at July 1, 2022 247,640 $ 38.03 3.6 $ 8.4 (7.) STOCK-BASED COMPENSATION (Continued) Restricted Stock Units During the six months ended July 1, 2022, the Company awarded grants of either time-based RSUs or a mix of time-based RSUs and performance-based RSUs (“PRSUs”) to members of its Board of Directors and certain members of management. Most time-based RSUs granted during the six months ended July 1, 2022 vest over a period of three years from the grant date, subject to the recipient’s continuous service to the Company. RSUs are issued to members of the Board as a portion of their annual retainer and vest quarterly over a one-year vesting term. The grant-date fair value of all time-based RSUs is equal to the closing market price of Integer common stock on the date of grant. The following table summarizes time-vested RSU activity for the six month period ended July 1, 2022: Time-Vested Weighted Nonvested at December 31, 2021 248,131 $ 81.14 Granted 179,242 78.85 Vested (81,171) 79.60 Forfeited (10,997) 79.35 Nonvested at July 1, 2022 335,205 $ 80.35 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 performance conditions. The market-based performance 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, or contingent upon achieving specified stock price milestones over a five year performance period. The following table summarizes PRSU activity for the six month period ended July 1, 2022: Performance- Weighted Nonvested at December 31, 2021 198,869 $ 92.07 Granted 131,393 90.84 Forfeited (51,375) 99.62 Nonvested at July 1, 2022 278,887 $ 90.10 The Company uses a Monte Carlo simulation model to determine the grant-date fair value of awards with market-based performance conditions. The grant-date fair value of all other PRSUs 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 PRSU awards granted with market-based performance conditions are as follows: Six Months Ended July 1, July 2, Weighted average fair value $ 97.58 $ 85.16 Risk-free interest rate 1.58 % 0.19 % Expected volatility 42 % 41 % Expected life (in years) 3.9 3.0 Expected dividend yield — % — % The valuation of the market-based PRSUs granted during 2022 and 2021 also reflects a weighted average illiquidity discount of 9.25% and 8.19%, 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.

Restructuring and Other Charges

Restructuring and Other Charges	6 Months Ended
	Jul. 01, 2022
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES	RESTRUCTURING AND OTHER CHARGES The Company continuously evaluates the business and identifies opportunities to realign its resources to better serve its customers and markets, improve operational efficiency and capabilities, and lower its operating costs or improve profitability. To realize the benefits associated with these opportunities, the Company undertakes restructuring-type activities to transform its business. The Company incurs costs associated with these activities, which primarily include exit and disposal costs and other costs directly related to the restructuring initiative. The Company records exit and disposal costs (“restructuring charges”) as incurred in accordance with ASC 420, Exit or Disposal Cost Obligations , and are classified within Restructuring and other charges, while other costs directly related to the restructuring initiatives (“restructuring-related charges”) are classified within Cost of sales, Selling, general and administrative, and Research, development and engineering expenses in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). In addition, from time to time, the Company incurs costs associated with acquiring and integrating businesses, and certain other general expenses, including asset impairments. The Company classifies costs associated with these items within Restructuring and other charges in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Restructuring and other charges comprise the following (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Restructuring charges $ (5) $ 191 $ 1,098 $ 845 Acquisition and integration costs 3,333 26 5,269 110 Other general expenses 205 62 501 239 Total restructuring and other charges $ 3,533 $ 279 $ 6,868 $ 1,194 Restructuring programs The following table comprises restructuring and restructuring-related charges by income statement classification for the three and six month periods ended July 1, 2022 (in thousands): Three Months Ended Six Months Ended July 1, 2022 July 1, 2022 Restructuring charges: Restructuring and other charges $ (5) $ 1,098 Restructuring-related expenses (a) : Cost of sales 179 334 Selling, general and administrative 384 702 Research, development and engineering 326 503 Total restructuring and restructuring-related charges $ 884 $ 2,637 __________ (a) Restructuring-related expenses primarily include retention bonuses and consulting expenses. Restructuring related expense for the three and six months ended July 2, 2021 were not material. 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. 2022 OE Initiatives - Costs related to the Company’s 2022 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 2022 OE initiatives of between approximately $3 million to $5 million, the majority of which are expected to be cash expenditures. As of July 1, 2022, total restructuring and restructuring-related charges incurred since inception were $0.7 million. These actions are expected to be substantially complete by the end of 2023. (8.) RESTRUCTURING AND OTHER CHARGES (Continued) 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 $4 million to $5 million, the majority of which are expected to be cash expenditures. As of July 1, 2022, total restructuring and restructuring-related charges incurred since inception were $4.6 million. These actions are expected to be substantially complete by the end of 2022. Strategic reorganization and alignment The Company’s strategic reorganization and alignment (“SRA”) initiatives primarily include those that align resources with market conditions and the Company’s strategic direction in order to enhance the profitability of its portfolio of products. 2021 SRA Initiatives - During the fourth quarter of 2021, the Company initiated plans to exit certain markets served in our Medical segment to enhance profitability and reallocate manufacturing capacity needed to support our overall growth plans. The Company estimates that it will incur a range of pre-tax charges in connection with the 2021 SRA initiatives of approximately $5 million and $8 million, the majority of which are expected to be cash expenditures. Costs related to the Company’s 2021 SRA Initiatives are primarily recorded within the Medical segment and mainly include termination benefits. As of July 1, 2022, total restructuring and restructuring-related charges incurred since inception were $1.9 million. These actions are expected to be completed by the end of 2025. The following table summarizes the activity for restructuring reserves (in thousands): Operational Strategic reorganization and alignment Total December 31, 2021 $ 298 $ 134 $ 432 Charges incurred, net of reversals 704 394 1,098 Cash payments (825) (46) (871) July 1, 2022 $ 177 $ 482 $ 659 Acquisition and integration Acquisition and integration costs primarily consist of professional fees and other costs related to business acquisitions. During the six months ended July 1, 2022, acquisition and integration costs included $5.3 million of expenses primarily related to the acquisitions of Oscor and Aran. Other general expenses

Income Taxes

Income Taxes	6 Months Ended
	Jul. 01, 2022
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 second quarter of 2022 was 14.7% on $24.4 million of income before taxes compared to 4.4% on $30.8 million of income before taxes for the same period in 2021. The Company’s effective tax rate for the six months ended July 1, 2022 was 16.1% on $38.4 million of income before taxes compared to 8.6% on $55.8 million of income before taxes for the same period of 2021. The difference between the Company’s effective tax rates and the U.S. federal statutory income tax rate of 21% for the second quarter and first six months of 2022 and 2021 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 Foreign Derived Intangible Income (“FDII”) deduction, the availability of tax credits, and the recognition of certain discrete tax items. The Company did not record discrete tax expense for the second quarter of 2022 and recorded discrete tax expense of $0.5 million for the first six months of 2022, compared to discrete tax benefits of $3.8 million and $4.4 million, respectively, for the second quarter and first six months of 2021. The discrete tax expense for the first six months of 2022 is predominately related to excess tax benefits recognized upon vesting of RSUs during those periods and/or tax shortfalls recorded for the forfeiture of certain PRSUs. Approximately $3.5 million of the discrete tax benefits recognized for the second quarter and first six 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. 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 July 1, 2022, the Company had unrecognized tax benefits of approximately $6.0 million, predominately all of which would favorably impact the effective tax rate, net of federal benefit on state issues, if recognized. As of July 1, 2022, 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 provided for deferred payment of the employer portion of social security taxes through the end of 2020. As of July 1, 2022 and December 31, 2021, the Company had a remaining deferred amount of $4.8 million, which the Company will pay prior to December 31, 2022. The deferred payroll taxes are included within Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 01, 2022
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. 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, 2021 $ 509 Additions to warranty reserve, net of reversals (17) Adjustments to pre-existing warranties (15) July 1, 2022 $ 477

Earnings Per Share (_EPS_)

Earnings Per Share (“EPS”)	6 Months Ended
	Jul. 01, 2022
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 Six Months Ended July 1, July 2, July 1, July 2, Numerator for basic and diluted EPS: Net income $ 20,836 $ 29,433 $ 32,203 $ 50,953 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 33,111 32,982 33,101 32,970 Dilutive effect of share-based awards 239 272 225 251 Weighted average shares outstanding - Diluted 33,350 33,254 33,326 33,221 Basic EPS $ 0.63 $ 0.89 $ 0.97 $ 1.55 Diluted EPS $ 0.62 $ 0.89 $ 0.97 $ 1.53 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 Six Months Ended July 1, July 2, July 1, July 2, Time-vested RSUs 5 — 4 5 PRSUs 165 63 165 64

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 01, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock The following is a summary of the number of shares of common stock issued, treasury stock and common stock outstanding for the six month periods ended July 1, 2022 and July 2, 2021: Six Months Ended July 1, July 2, Shares outstanding at beginning of period 33,063,336 32,908,178 Stock options exercised — 15,075 Vesting of RSUs, net of shares withheld to cover taxes 58,497 75,798 Shares outstanding at end of period 33,121,833 32,999,051 Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) comprises the following (in thousands): Defined Cash Foreign Total Tax Net-of-Tax April 1, 2022 $ (890) $ 1,170 $ 21,833 $ 22,113 $ (76) $ 22,037 Unrealized loss on cash flow hedges — (291) — (291) 61 (230) Realized gain on foreign currency hedges — (295) — (295) 62 (233) Realized loss on interest rate swap hedge — 526 — 526 (110) 416 Foreign currency translation loss — — (27,274) (27,274) — (27,274) July 1, 2022 $ (890) $ 1,110 $ (5,441) $ (5,221) $ (63) $ (5,284) December 31, 2021 $ (890) $ (2,291) $ 29,720 $ 26,539 $ 651 $ 27,190 Unrealized gain on cash flow hedges — 2,565 — 2,565 (539) 2,026 Realized gain on foreign currency hedges — (457) — (457) 96 (361) Realized loss on interest rate swap hedges — 1,293 — 1,293 (271) 1,022 Foreign currency translation loss — — (35,161) (35,161) — (35,161) July 1, 2022 $ (890) $ 1,110 $ (5,441) $ (5,221) $ (63) $ (5,284) April 2, 2021 $ (1,095) $ (5,850) $ 41,182 $ 34,237 $ 1,385 $ 35,622 Unrealized gain on cash flow hedges — 565 — 565 (118) 447 Realized gain on foreign currency hedges — (490) — (490) 102 (388) Realized loss on interest rate swap hedges — 995 — 995 (209) 786 Foreign currency translation gain — — 2,484 2,484 — 2,484 July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951 December 31, 2020 $ (1,095) $ (4,956) $ 57,546 $ 51,495 $ 1,197 $ 52,692 Unrealized loss on cash flow hedges — (704) — (704) 148 (556) Realized gain on foreign currency hedges — (1,149) — (1,149) 241 (908) Realized loss on interest rate swap hedges — 2,029 — 2,029 (426) 1,603 Foreign currency translation loss — — (13,880) (13,880) — (13,880) July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jul. 01, 2022
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 July 1, 2022 Assets: Interest rate swaps $ 841 $ — $ 841 $ — Assets: Foreign currency hedging contracts 1,395 — 1,395 — Liabilities: Foreign currency hedging contracts 1,126 — 1,126 — Liabilities: Contingent consideration 9,072 — — 9,072 December 31, 2021 Assets: Foreign currency hedging contracts $ 687 $ — $ 687 $ — Liabilities: Interest rate swap 2,978 — 2,978 — Liabilities: Contingent consideration 2,415 — — 2,415 Derivatives Designated as Hedging Instruments 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 July 1, 2022 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 % 1.6240 % $ 841 Prepaid expenses and other current assets Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of December 31, 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 % 0.1013 % $ (2,978) Other long-term liabilities (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) 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 July 1, 2022 is as follows (dollars in thousands): Notional Amount End $/Foreign Currency Fair Value Balance Sheet Location $ 10,923 Dec 2022 0.0455 MXN Peso $ 728 Prepaid expenses and other current assets 6,830 Dec 2022 1.1383 Euro (522) Accrued expenses and other current liabilities 4,106 Dec 2022 0.0216 UYU Peso 667 Prepaid expenses and other current assets 6,760 Dec 2022 1.1266 Euro (453) Accrued expenses and other current liabilities 3,833 Dec 2022 1.0952 Euro (151) Accrued expenses and other current liabilities Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2021 is as follows (dollars in thousands): Notional Amount End $/Foreign Currency Fair Value Balance Sheet Location $ 22,201 Dec 2022 0.0463 MXN Peso $ 408 Prepaid expenses and other current assets 17,017 Dec 2022 1.1344 Euro 130 Prepaid expenses and other current assets 9,020 Dec 2022 0.0220 UYU Peso 149 Prepaid expenses and other current assets 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 (Loss) for the three and six months ended July 1, 2022 and July 2, 2021 (in thousands): Three Months Ended July 1, 2022 July 2, 2021 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 350,081 $ (371) $ 312,023 $ 29 Cost of sales 257,184 554 223,277 450 Operating expenses 60,190 112 49,396 11 Interest expense 7,773 (526) 7,532 (995) Six Months Ended July 1, 2022 July 2, 2021 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 660,993 $ (425) $ 602,490 $ 37 Cost of sales 486,621 746 429,258 1,074 Operating expenses 119,168 136 99,274 38 Interest expense 13,741 (1,293) 16,064 (2,029) (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 (Loss) Three Months Ended July 1, July 2, July 1, July 2, Interest rate swap $ 702 $ (375) Interest expense $ (526) $ (995) Foreign exchange contracts (1,167) 148 Sales (371) 29 Foreign exchange contracts 96 725 Cost of sales 554 450 Foreign exchange contracts 78 67 Operating expenses 112 11 Six Months Ended Location in Statements of Operations and Comprehensive Income (Loss) Six Months Ended July 1, July 2, July 1, July 2, Interest rate swaps $ 2,526 $ (109) Interest expense $ (1,293) $ (2,029) Foreign exchange contracts (1,681) (738) Sales (425) 37 Foreign exchange contracts 1,365 166 Cost of sales 746 1,074 Foreign exchange contracts 355 (23) Operating expenses 136 38 The Company expects to reclassify net losses totaling $1.1 million related to its cash flow hedges from AOCI into earnings during the next twelve months. Derivatives Not Designated as Hedging Instruments The Company also has foreign currency exposure on balances, primarily intercompany, that are denominated in a foreign currency and are adjusted to current values using period-end exchange rates. To minimize foreign currency exposure, the Company enters into foreign currency contracts with a one month maturity. At July 1, 2022, the Company had two contracts outstanding, with a total notional amount of $13.9 million and a fair value of approximately $0.1 million. At December 31, 2021, the Company had one contract outstanding, with a notional amount of $15.0 million and a fair value of $(0.1) million. The Company recorded a net gain on foreign currency contracts not designated as hedging instruments of $0.4 million and $0.7 million, respectively, for the three and six months ended July 1, 2022, which is included in Other loss, net in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and generally offset the gains or losses from the foreign currency adjustments on the intercompany balances that are also included in Other loss, net. The Company did not have foreign currency contracts not designated as hedging instruments outstanding during the six months ended July 2, 2021. 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 six months ended July 1, 2022 and July 2, 2021 (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Fair value measurement at beginning of period $ 1,976 $ 2,281 $ 2,415 $ 3,900 Amount recorded for current year acquisitions 7,375 — 7,375 — Fair value measurement adjustment — — 54 — Payments — — (493) (1,621) Foreign currency translation (279) — (279) 2 Fair value measurement at end of period $ 9,072 $ 2,281 $ 9,072 $ 2,281 (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) On April 6, 2022, the Company acquired Aran. See Note 2 “Business Acquisitions” for additional information about the Aran acquisition and related contingent consideration. 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. On October 7, 2019, the Company acquired certain assets and liabilities of US BioDesign, LLC (“USB”), a privately-held developer and manufacturer of complex braided biomedical structures for disposable and implantable medical devices. The contingent consideration at July 1, 2022 is the estimated fair value of the Company’s obligations, under the asset purchase agreements for Aran, InoMec and USB, to make additional payments if certain revenue goals are met. During 2022, the Company made payments associated with the USB acquisition, resulting from achievement of revenue-based goals for the period from January 1, 2021 to December 31, 2021. During 2021, the Company made payments associated with the InoMec and USB acquisitions, 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. As of July 1, 2022 and December 31, 2021, the current portion of contingent consideration liabilities included in Accrued expenses and other current liabilities was $8.4 million and $0.9 million, respectively, and the non-current portion included in Other long-term liabilities on the Condensed Consolidated Balance Sheets was $0.7 million and $1.5 million, respectively. The following table provides quantitative information associated with the fair value measurement of the Company’s liabilities for contingent consideration: July 1, 2022 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments: InoMec and USB $ 5,375 $ 1,976 Monte Carlo Revenue volatility 26.7 % Discount rate 1.8 % Projected year(s) of payment 2022-2024 Aran $ 10,484 $ 7,096 Probability-weighted expected returns method Probability of occurrence 0% - 50% Discount rate 9.7 % Projected year(s) of payment 2023 December 31, 2021 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments: InoMec and USB $ 6,750 $ 2,415 Monte Carlo Revenue volatility 29.0 % Discount rate 1.8 % Projected year(s) of payment 2022-2024 (13.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) 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. Equity investments comprise the following (in thousands): July 1, December 31, Equity method investment $ 13,468 $ 16,192 Non-marketable equity securities 5,637 5,637 Total equity investments $ 19,105 $ 21,829 The components of Loss on equity investments for each period were as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Equity method investment loss $ 320 $ 684 $ 2,724 $ 2,019 The Company’s equity method investment is in a venture capital fund focused on investing in life sciences companies. As of July 1, 2022, the Company owned 6.8% of this fund.

Segment Information

Segment Information	6 Months Ended
	Jul. 01, 2022
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 Company has communicated to certain customers that it is exiting certain markets it serves in the Advanced Surgical, Orthopedics & Portable Medical product line. In order to align with the planned exit of those markets and better align to its end markets and product line strategies, the Company recast its product line sales within the Medical segment to reflect the reclassification of certain products from the historical product lines to the product lines associated with those revenues that will be utilized for future revenue reporting. The Company believes the revised presentation will provide improved reporting and better transparency into the operational results of its business and markets. The Company has reclassified the prior year information in the table below to conform to the current year presentation. For the three and six months ended July 2, 2021 , Cardio & Vascular sales of $7.9 million and $15.9 million, respectively, and Advanced Surgical, Orthopedics & Portable Medical sales of $6.0 million and $11.3 million, respectively, were reclassified to the Cardiac Rhythm Management & Neuromodulation product line. The following table presents sales by product line (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Segment sales by product line: Medical Cardio & Vascular $ 180,604 $ 144,683 $ 339,641 $ 285,889 Cardiac Rhythm Management & Neuromodulation 135,945 133,660 259,269 255,363 Advanced Surgical, Orthopedics & Portable Medical 23,285 23,283 42,951 43,339 Total Medical 339,834 301,626 641,861 584,591 Non-Medical 10,247 10,397 19,132 17,899 Total sales $ 350,081 $ 312,023 $ 660,993 $ 602,490 The following table presents income for the Company’s reportable segments (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Segment income: Medical $ 54,580 $ 56,439 $ 98,728 $ 111,964 Non-Medical 1,625 3,356 2,290 3,358 Total segment income 56,205 59,795 101,018 115,322 Unallocated operating expenses (23,498) (20,445) (45,814) (41,364) Operating income 32,707 39,350 55,204 73,958 Unallocated expenses, net (8,284) (8,572) (16,833) (18,202) Income before taxes $ 24,423 $ 30,778 $ 38,371 $ 55,756

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Jul. 01, 2022
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 32% and 31%, respectively, for the three and six months ended July 1, 2022, compared to 34% for the three and six months ended July 2, 2021. Substantially all of the 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 July 1, 2022 July 2, 2021 Customer Medical Non-Medical Medical Non-Medical Customer A 18% * 20% * Customer B 17% * 17% * Customer C 14% * 14% * Customer D * 42% * 36% All other customers 51% 58% 49% 64% Six Months Ended July 1, 2022 July 2, 2021 Customer Medical Non-Medical Medical Non-Medical Customer A 18% * 21% * Customer B 17% * 17% * Customer C 14% * 14% * Customer D * 37% * 32% All other customers 51% 63% 48% 68% __________ * Less than 10% of segment’s total revenues for the period. (15.) REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued) 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 July 1, 2022 July 2, 2021 Ship to Location Medical Non-Medical Medical Non-Medical United States 52% 71% 53% 70% Puerto Rico * * 10% * All other countries 48% 29% 37% 30% Six Months Ended July 1, 2022 July 2, 2021 Ship to Location Medical Non-Medical Medical Non-Medical United States 51% 67% 53% 69% Puerto Rico * * 10% * All other countries 49% 33% 37% 31% __________ * 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): July 1, December 31, Contract assets $ 70,408 $ 64,743 Contract liabilities 8,718 3,776 During the three and six months ended July 1, 2022, the Company recognized $0.8 million and $1.7 million, respectively, of revenue that was included in the contract liability balance as of December 31, 2021. During the three and six months ended July 2, 2021, the Company recognized $0.2 million and $1.1 million, respectively, of revenue that was included in the contract liability balance as of December 31, 2020.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jul. 01, 2022
Accounting Policies [Abstract]
Interim Basis of Accounting	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. The results for interim periods are not necessarily indicative of results or trends that may be expected for the fiscal year as a whole. The condensed consolidated financial statements were prepared using U.S. GAAP, which require 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.
Reclassifications	ReclassificationsCertain prior period amounts have been reclassified to conform to current year presentation.
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, 2021, 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.

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
	Jul. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Final Allocation of Purchase Consideration	The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed (in thousands): Fair value of net assets acquired Current assets $ 9,319 Property, plant and equipment 4,151 Goodwill 68,460 Definite-lived intangible assets 71,485 Operating lease assets 3,505 Other noncurrent assets 1,354 Current liabilities (4,370) Operating lease liabilities (3,258) Other noncurrent liabilities (9,377) Fair value of net assets acquired $ 141,269 The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed (in thousands): Fair value of net assets acquired Current assets (excluding inventory) $ 9,621 Inventory 11,360 Property, plant and equipment 17,977 Goodwill 78,302 Intangible assets 105,300 Operating lease assets 15,142 Other noncurrent assets 695 Current liabilities (11,143) Operating lease liabilities (12,044) Fair value of net assets acquired $ 215,210
Schedule of Definite-lived Intangible Assets Acquired	The breakout of definite-lived intangible assets acquired was as follows (dollars in thousands): Definite-lived Intangible Assets Fair Value Assigned Weighted Average Amortization Period Weighted Average Discount Rate Customer lists $ 53,395 26.0 9.5% Technology 17,435 12.0 9.5% Tradenames 655 1.5 9.5% $ 71,485
Schedule of Business Acquisition, Pro Forma Information	These pro forma results do not purport to be indicative of the results that would have been obtained, or to be a projection of results that may be obtained in the future. Six Months Ended July 1, 2022 Three Months Ended July 2, 2021 Six Months Ended July 2, 2021 Sales $ 666,356 $ 332,360 $ 639,966 Net income 45,357 27,693 44,452

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jul. 01, 2022
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): Six Months Ended July 1, July 2, Noncash investing and financing activities: Property, plant and equipment purchases included in accounts payable $ 6,373 $ 4,364 Supplemental lease disclosures: Assets acquired under operating leases 11,265 7,435

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 01, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories comprise the following (in thousands): July 1, December 31, Raw materials $ 91,328 $ 70,956 Work-in-process 90,886 74,152 Finished goods 12,244 10,591 Total $ 194,458 $ 155,699

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by reportable segment for the six months ended July 1, 2022 were as follows (in thousands): Medical Non- Medical Total December 31, 2021 $ 907,704 $ 17,000 $ 924,704 Acquisition (Note 2) 68,460 — 68,460 Acquisition-related adjustments (Note 2) 414 414 Foreign currency translation (15,019) — (15,019) July 1, 2022 $ 961,559 $ 17,000 $ 978,559
Schedule of Finite-Lived Intangible Assets, Major Class	Intangible assets comprise the following (in thousands): Gross Accumulated Net July 1, 2022 Definite-lived: Purchased technology and patents $ 283,022 $ (170,380) $ 112,642 Customer lists 822,121 (200,119) 622,002 Amortizing tradenames and other 21,021 (4,831) 16,190 Total amortizing intangible assets $ 1,126,164 $ (375,330) $ 750,834 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2021 Definite-lived: Purchased technology and patents $ 269,359 $ (164,298) $ 105,061 Customer lists 783,618 (187,412) 596,206 Amortizing tradenames and other 20,462 (4,207) 16,255 Total amortizing intangible assets $ 1,073,439 $ (355,917) $ 717,522 Indefinite-lived: Trademarks and tradenames $ 90,288
Schedule of Indefinite-Lived Intangible Assets	Intangible assets comprise the following (in thousands): Gross Accumulated Net July 1, 2022 Definite-lived: Purchased technology and patents $ 283,022 $ (170,380) $ 112,642 Customer lists 822,121 (200,119) 622,002 Amortizing tradenames and other 21,021 (4,831) 16,190 Total amortizing intangible assets $ 1,126,164 $ (375,330) $ 750,834 Indefinite-lived: Trademarks and tradenames $ 90,288 December 31, 2021 Definite-lived: Purchased technology and patents $ 269,359 $ (164,298) $ 105,061 Customer lists 783,618 (187,412) 596,206 Amortizing tradenames and other 20,462 (4,207) 16,255 Total amortizing intangible assets $ 1,073,439 $ (355,917) $ 717,522 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 Six Months Ended July 1, July 2, July 1, July 2, Cost of sales $ 4,037 $ 3,233 $ 7,682 $ 6,501 Selling, general and administrative expenses 8,248 7,106 16,207 14,288 Total intangible asset amortization expense $ 12,285 $ 10,339 $ 23,889 $ 20,789
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated future intangible asset amortization expense based on the carrying value as of July 1, 2022 is as follows (in thousands): Remainder of 2022 2023 2024 2025 2026 After 2026 Amortization Expense $ 24,618 51,982 51,352 50,542 48,709 523,631

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 01, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt related to the Senior Secured Credit Facilities as of July 1, 2022 and December 31, 2021, respectively, comprises the following (in thousands): July 1, December 31, Senior secured term loan A $ 461,188 $ 467,062 Senior secured term loan B 347,375 349,125 Senior secured revolving credit facility 145,300 19,300 Unamortized discount on term loan B and deferred debt issuance costs (6,724) (7,361) Total debt 947,139 828,126 Current portion of long-term debt (15,250) (15,250) Total long-term debt $ 931,889 $ 812,876
Schedule of Maturities of Long-term Debt	Contractual maturities under the Senior Secured Credit Facilities for the remainder of 2022 and through maturity, excluding any discounts or premiums, as of July 1, 2022 are as follows (in thousands): Remainder of 2022 2023 2024 2025 2026 After 2026 Future minimum principal payments $ 7,625 18,187 29,938 38,750 527,738 331,625

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 01, 2022
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 Six Months Ended July 1, July 2, July 1, July 2, RSUs and PRSUs $ 5,956 $ 4,249 $ 10,951 $ 8,953 Total stock-based compensation expense $ 5,956 $ 4,249 $ 10,951 $ 8,953 Cost of sales $ 837 $ 823 $ 1,606 $ 1,937 Selling, general and administrative 4,308 3,215 7,853 6,570 Research, development and engineering 338 211 663 446 Restructuring and other charges 473 — 829 — Total stock-based compensation expense $ 5,956 $ 4,249 $ 10,951 $ 8,953
Schedule of Share-based Compensation, Stock Options Activity	The following table summarizes the Company’s stock option activity for the six month period ended July 1, 2022: Number of Weighted Weighted Aggregate Outstanding at December 31, 2021 247,640 $ 38.03 No activity — — Outstanding and exercisable at July 1, 2022 247,640 $ 38.03 3.6 $ 8.4
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes time-vested RSU activity for the six month period ended July 1, 2022: Time-Vested Weighted Nonvested at December 31, 2021 248,131 $ 81.14 Granted 179,242 78.85 Vested (81,171) 79.60 Forfeited (10,997) 79.35 Nonvested at July 1, 2022 335,205 $ 80.35 The following table summarizes PRSU activity for the six month period ended July 1, 2022: Performance- Weighted Nonvested at December 31, 2021 198,869 $ 92.07 Granted 131,393 90.84 Forfeited (51,375) 99.62 Nonvested at July 1, 2022 278,887 $ 90.10
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The weighted average fair value and assumptions used to value the PRSU awards granted with market-based performance conditions are as follows: Six Months Ended July 1, July 2, Weighted average fair value $ 97.58 $ 85.16 Risk-free interest rate 1.58 % 0.19 % Expected volatility 42 % 41 % Expected life (in years) 3.9 3.0 Expected dividend yield — % — %

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	6 Months Ended
	Jul. 01, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Charges	Restructuring and other charges comprise the following (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Restructuring charges $ (5) $ 191 $ 1,098 $ 845 Acquisition and integration costs 3,333 26 5,269 110 Other general expenses 205 62 501 239 Total restructuring and other charges $ 3,533 $ 279 $ 6,868 $ 1,194 The following table comprises restructuring and restructuring-related charges by income statement classification for the three and six month periods ended July 1, 2022 (in thousands): Three Months Ended Six Months Ended July 1, 2022 July 1, 2022 Restructuring charges: Restructuring and other charges $ (5) $ 1,098 Restructuring-related expenses (a) : Cost of sales 179 334 Selling, general and administrative 384 702 Research, development and engineering 326 503 Total restructuring and restructuring-related charges $ 884 $ 2,637 __________ (a) Restructuring-related expenses primarily include retention bonuses and consulting expenses. Restructuring related expense for the three and six months ended July 2, 2021 were not material.
Schedule of Changes in Restructuring Reserves	The following table summarizes the activity for restructuring reserves (in thousands): Operational Strategic reorganization and alignment Total December 31, 2021 $ 298 $ 134 $ 432 Charges incurred, net of reversals 704 394 1,098 Cash payments (825) (46) (871) July 1, 2022 $ 177 $ 482 $ 659

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The change in product warranty liability comprised the following (in thousands): December 31, 2021 $ 509 Additions to warranty reserve, net of reversals (17) Adjustments to pre-existing warranties (15) July 1, 2022 $ 477

Earnings Per Share (_EPS_) (Tab

Earnings Per Share (“EPS”) (Tables)	6 Months Ended
	Jul. 01, 2022
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 Six Months Ended July 1, July 2, July 1, July 2, Numerator for basic and diluted EPS: Net income $ 20,836 $ 29,433 $ 32,203 $ 50,953 Denominator for basic and diluted EPS: Weighted average shares outstanding - Basic 33,111 32,982 33,101 32,970 Dilutive effect of share-based awards 239 272 225 251 Weighted average shares outstanding - Diluted 33,350 33,254 33,326 33,221 Basic EPS $ 0.63 $ 0.89 $ 0.97 $ 1.55 Diluted EPS $ 0.62 $ 0.89 $ 0.97 $ 1.53
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 Six Months Ended July 1, July 2, July 1, July 2, Time-vested RSUs 5 — 4 5 PRSUs 165 63 165 64

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 01, 2022
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 six month periods ended July 1, 2022 and July 2, 2021: Six Months Ended July 1, July 2, Shares outstanding at beginning of period 33,063,336 32,908,178 Stock options exercised — 15,075 Vesting of RSUs, net of shares withheld to cover taxes 58,497 75,798 Shares outstanding at end of period 33,121,833 32,999,051
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) comprises the following (in thousands): Defined Cash Foreign Total Tax Net-of-Tax April 1, 2022 $ (890) $ 1,170 $ 21,833 $ 22,113 $ (76) $ 22,037 Unrealized loss on cash flow hedges — (291) — (291) 61 (230) Realized gain on foreign currency hedges — (295) — (295) 62 (233) Realized loss on interest rate swap hedge — 526 — 526 (110) 416 Foreign currency translation loss — — (27,274) (27,274) — (27,274) July 1, 2022 $ (890) $ 1,110 $ (5,441) $ (5,221) $ (63) $ (5,284) December 31, 2021 $ (890) $ (2,291) $ 29,720 $ 26,539 $ 651 $ 27,190 Unrealized gain on cash flow hedges — 2,565 — 2,565 (539) 2,026 Realized gain on foreign currency hedges — (457) — (457) 96 (361) Realized loss on interest rate swap hedges — 1,293 — 1,293 (271) 1,022 Foreign currency translation loss — — (35,161) (35,161) — (35,161) July 1, 2022 $ (890) $ 1,110 $ (5,441) $ (5,221) $ (63) $ (5,284) April 2, 2021 $ (1,095) $ (5,850) $ 41,182 $ 34,237 $ 1,385 $ 35,622 Unrealized gain on cash flow hedges — 565 — 565 (118) 447 Realized gain on foreign currency hedges — (490) — (490) 102 (388) Realized loss on interest rate swap hedges — 995 — 995 (209) 786 Foreign currency translation gain — — 2,484 2,484 — 2,484 July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951 December 31, 2020 $ (1,095) $ (4,956) $ 57,546 $ 51,495 $ 1,197 $ 52,692 Unrealized loss on cash flow hedges — (704) — (704) 148 (556) Realized gain on foreign currency hedges — (1,149) — (1,149) 241 (908) Realized loss on interest rate swap hedges — 2,029 — 2,029 (426) 1,603 Foreign currency translation loss — — (13,880) (13,880) — (13,880) July 2, 2021 $ (1,095) $ (4,780) $ 43,666 $ 37,791 $ 1,160 $ 38,951

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jul. 01, 2022
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 July 1, 2022 Assets: Interest rate swaps $ 841 $ — $ 841 $ — Assets: Foreign currency hedging contracts 1,395 — 1,395 — Liabilities: Foreign currency hedging contracts 1,126 — 1,126 — Liabilities: Contingent consideration 9,072 — — 9,072 December 31, 2021 Assets: Foreign currency hedging contracts $ 687 $ — $ 687 $ — Liabilities: Interest rate swap 2,978 — 2,978 — Liabilities: Contingent consideration 2,415 — — 2,415 Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of July 1, 2022 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 % 1.6240 % $ 841 Prepaid expenses and other current assets Information regarding the Company’s outstanding interest rate swap designated as cash flow hedges as of December 31, 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 % 0.1013 % $ (2,978) Other long-term liabilities Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of July 1, 2022 is as follows (dollars in thousands): Notional Amount End $/Foreign Currency Fair Value Balance Sheet Location $ 10,923 Dec 2022 0.0455 MXN Peso $ 728 Prepaid expenses and other current assets 6,830 Dec 2022 1.1383 Euro (522) Accrued expenses and other current liabilities 4,106 Dec 2022 0.0216 UYU Peso 667 Prepaid expenses and other current assets 6,760 Dec 2022 1.1266 Euro (453) Accrued expenses and other current liabilities 3,833 Dec 2022 1.0952 Euro (151) Accrued expenses and other current liabilities Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of December 31, 2021 is as follows (dollars in thousands): Notional Amount End $/Foreign Currency Fair Value Balance Sheet Location $ 22,201 Dec 2022 0.0463 MXN Peso $ 408 Prepaid expenses and other current assets 17,017 Dec 2022 1.1344 Euro 130 Prepaid expenses and other current assets 9,020 Dec 2022 0.0220 UYU Peso 149 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 (Loss) for the three and six months ended July 1, 2022 and July 2, 2021 (in thousands): Three Months Ended July 1, 2022 July 2, 2021 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 350,081 $ (371) $ 312,023 $ 29 Cost of sales 257,184 554 223,277 450 Operating expenses 60,190 112 49,396 11 Interest expense 7,773 (526) 7,532 (995) Six Months Ended July 1, 2022 July 2, 2021 Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Sales $ 660,993 $ (425) $ 602,490 $ 37 Cost of sales 486,621 746 429,258 1,074 Operating expenses 119,168 136 99,274 38 Interest expense 13,741 (1,293) 16,064 (2,029) Unrealized Gain (Loss) Recognized in OCI Realized Gain (Loss) Reclassified from AOCI Three Months Ended Location in Statements of Operations and Comprehensive Income (Loss) Three Months Ended July 1, July 2, July 1, July 2, Interest rate swap $ 702 $ (375) Interest expense $ (526) $ (995) Foreign exchange contracts (1,167) 148 Sales (371) 29 Foreign exchange contracts 96 725 Cost of sales 554 450 Foreign exchange contracts 78 67 Operating expenses 112 11 Six Months Ended Location in Statements of Operations and Comprehensive Income (Loss) Six Months Ended July 1, July 2, July 1, July 2, Interest rate swaps $ 2,526 $ (109) Interest expense $ (1,293) $ (2,029) Foreign exchange contracts (1,681) (738) Sales (425) 37 Foreign exchange contracts 1,365 166 Cost of sales 746 1,074 Foreign exchange contracts 355 (23) Operating expenses 136 38
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 six months ended July 1, 2022 and July 2, 2021 (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Fair value measurement at beginning of period $ 1,976 $ 2,281 $ 2,415 $ 3,900 Amount recorded for current year acquisitions 7,375 — 7,375 — Fair value measurement adjustment — — 54 — Payments — — (493) (1,621) Foreign currency translation (279) — (279) 2 Fair value measurement at end of period $ 9,072 $ 2,281 $ 9,072 $ 2,281
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: July 1, 2022 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments: InoMec and USB $ 5,375 $ 1,976 Monte Carlo Revenue volatility 26.7 % Discount rate 1.8 % Projected year(s) of payment 2022-2024 Aran $ 10,484 $ 7,096 Probability-weighted expected returns method Probability of occurrence 0% - 50% Discount rate 9.7 % Projected year(s) of payment 2023 December 31, 2021 Contingency Type Maximum Payout (undiscounted) Fair Value Valuation Technique Unobservable Inputs Weighted Average or Range Revenue-based payments: InoMec and USB $ 6,750 $ 2,415 Monte Carlo Revenue volatility 29.0 % Discount rate 1.8 % Projected year(s) of payment 2022-2024
Schedule of Equity Method Investments	Equity investments comprise the following (in thousands): July 1, December 31, Equity method investment $ 13,468 $ 16,192 Non-marketable equity securities 5,637 5,637 Total equity investments $ 19,105 $ 21,829 The components of Loss on equity investments for each period were as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Equity method investment loss $ 320 $ 684 $ 2,724 $ 2,019

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 01, 2022
Segment Reporting [Abstract]
Schedule of Reconciliation of Revenue from Segments to Consolidated	The following table presents sales by product line (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Segment sales by product line: Medical Cardio & Vascular $ 180,604 $ 144,683 $ 339,641 $ 285,889 Cardiac Rhythm Management & Neuromodulation 135,945 133,660 259,269 255,363 Advanced Surgical, Orthopedics & Portable Medical 23,285 23,283 42,951 43,339 Total Medical 339,834 301,626 641,861 584,591 Non-Medical 10,247 10,397 19,132 17,899 Total sales $ 350,081 $ 312,023 $ 660,993 $ 602,490
Schedule of 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 Six Months Ended July 1, July 2, July 1, July 2, Segment income: Medical $ 54,580 $ 56,439 $ 98,728 $ 111,964 Non-Medical 1,625 3,356 2,290 3,358 Total segment income 56,205 59,795 101,018 115,322 Unallocated operating expenses (23,498) (20,445) (45,814) (41,364) Operating income 32,707 39,350 55,204 73,958 Unallocated expenses, net (8,284) (8,572) (16,833) (18,202) Income before taxes $ 24,423 $ 30,778 $ 38,371 $ 55,756

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jul. 01, 2022
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 July 1, 2022 July 2, 2021 Customer Medical Non-Medical Medical Non-Medical Customer A 18% * 20% * Customer B 17% * 17% * Customer C 14% * 14% * Customer D * 42% * 36% All other customers 51% 58% 49% 64% Six Months Ended July 1, 2022 July 2, 2021 Customer Medical Non-Medical Medical Non-Medical Customer A 18% * 21% * Customer B 17% * 17% * Customer C 14% * 14% * Customer D * 37% * 32% All other customers 51% 63% 48% 68% __________ * 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 July 1, 2022 July 2, 2021 Ship to Location Medical Non-Medical Medical Non-Medical United States 52% 71% 53% 70% Puerto Rico * * 10% * All other countries 48% 29% 37% 30% Six Months Ended July 1, 2022 July 2, 2021 Ship to Location Medical Non-Medical Medical Non-Medical United States 51% 67% 53% 69% Puerto Rico * * 10% * All other countries 49% 33% 37% 31% __________ * 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): July 1, December 31, Contract assets $ 70,408 $ 64,743 Contract liabilities 8,718 3,776

Business Acquisitions (Narrativ

Business Acquisitions (Narrative) (Details) $ in Thousands, € in Millions			3 Months Ended	6 Months Ended
	Apr. 06, 2022 USD ($)	Dec. 01, 2021 USD ($)	Jul. 01, 2022 USD ($)	Jul. 01, 2022 USD ($)	Jul. 02, 2021 USD ($)	Apr. 06, 2022 EUR (€)
Business Acquisition [Line Items]
Net of cash acquired				$ 126,636	$ 0
Goodwill accounting adjustment				414
Aran Acquisition
Business Acquisition [Line Items]
Percentage of voting interests acquired	100%					100%
Consideration transferred	$ 141,300
Payments to acquire business	133,900
Net of cash acquired	129,300
Fair value of contingent consideration	7,400
Contingent consideration liability, current	$ 10,900					€ 10
Oscor Inc
Business Acquisition [Line Items]
Percentage of voting interests acquired		100%
Consideration transferred		$ 215,200
Goodwill accounting adjustment			$ 5,200	400
Adjustment in current liabilities				2,300
Adjustment in current assets				2,500
Decrease in inventory				800
Acquisition related costs			$ 1,600	$ 2,800

Business Acquisitions (Allocati

Business Acquisitions (Allocation Of The Provisional Purchase Price) (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Apr. 06, 2022	Dec. 31, 2021	Dec. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 978,559		$ 924,704
Aran Acquisition
Business Acquisition [Line Items]
Current assets (excluding inventory)		$ 9,319
Property, plant and equipment		4,151
Goodwill		68,460
Definite-lived intangible assets		71,485
Operating lease assets		3,505
Other noncurrent assets		1,354
Current liabilities		(4,370)
Operating lease liabilities		(3,258)
Other noncurrent liabilities		(9,377)
Fair value of net assets acquired		$ 141,269
Oscor Inc
Business Acquisition [Line Items]
Current assets (excluding inventory)				$ 9,621
Inventory				11,360
Property, plant and equipment				17,977
Goodwill				78,302
Definite-lived intangible assets				105,300
Operating lease assets				15,142
Other noncurrent assets				695
Current liabilities				(11,143)
Operating lease liabilities				(12,044)
Fair value of net assets acquired				$ 215,210

Business Acquisitions (Definite

Business Acquisitions (Definite-lived Intangible Assets Acquired) (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Fair Value Assigned	$ 71,485
Customer lists
Finite-Lived Intangible Assets [Line Items]
Fair Value Assigned	$ 53,395
Weighted Average Amortization Period (Years)	26 years
Weighted Average Discount Rate	9.50%
Technology
Finite-Lived Intangible Assets [Line Items]
Fair Value Assigned	$ 17,435
Weighted Average Amortization Period (Years)	12 years
Weighted Average Discount Rate	9.50%
Tradenames
Finite-Lived Intangible Assets [Line Items]
Fair Value Assigned	$ 655
Weighted Average Amortization Period (Years)	1 year 6 months
Weighted Average Discount Rate	9.50%

Business Acquisitions (Pro Form

Business Acquisitions (Pro Forma Information) (Details) - Oscor Inc - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Business Combination, Separately Recognized Transactions [Line Items]
Sales	$ 332,360	$ 666,356	$ 639,966
Net income	$ 27,693	$ 45,357	$ 44,452

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Noncash investing and financing activities:
Property, plant and equipment purchases included in accounts payable	$ 6,373	$ 4,364
Supplemental lease disclosures:
Assets acquired under operating leases	$ 11,265	$ 7,435

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 91,328	$ 70,956
Work-in-process	90,886	74,152
Finished goods	12,244	10,591
Total	$ 194,458	$ 155,699

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2022 USD ($)
Goodwill [Roll Forward]
Opening goodwill	$ 924,704
Acquisition (Note 2)	68,460
Acquisition-related adjustments (Note 2)	414
Foreign currency translation	(15,019)
Closing goodwill	978,559
Medical
Goodwill [Roll Forward]
Opening goodwill	907,704
Acquisition (Note 2)	68,460
Acquisition-related adjustments (Note 2)	414
Foreign currency translation	(15,019)
Closing goodwill	961,559
Non-Medical
Goodwill [Roll Forward]
Opening goodwill	17,000
Acquisition (Note 2)	0
Acquisition-related adjustments (Note 2)
Foreign currency translation	0
Closing goodwill	$ 17,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net (Intangible Assets Narrative) (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible asset	$ 750,834	$ 717,522
Purchased technology and patents | Revision of Prior Period, Adjustment
Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible asset		(16,200)
Amortizing tradenames and other | Revision of Prior Period, Adjustment
Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible asset		$ 16,200

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net (Schedule of Definite-Lived and Indefinite-Lived Intangible Assets, Major Class) (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,126,164	$ 1,073,439
Accumulated Amortization	(375,330)	(355,917)
Net Carrying Amount	750,834	717,522
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	283,022	269,359
Accumulated Amortization	(170,380)	(164,298)
Net Carrying Amount	112,642	105,061
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	822,121	783,618
Accumulated Amortization	(200,119)	(187,412)
Net Carrying Amount	622,002	596,206
Amortizing tradenames and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,021	20,462
Accumulated Amortization	(4,831)	(4,207)
Net Carrying Amount	$ 16,190	$ 16,255

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 12,285	$ 10,339	$ 23,889	$ 20,789
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	4,037	3,233	7,682	6,501
Selling, general and administrative expenses
Finite-Lived Intangible Assets [Line Items]
Total intangible asset amortization expense	$ 8,248	$ 7,106	$ 16,207	$ 14,288

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets, Net (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	Jul. 01, 2022 USD ($)
Amortization Expense
Remainder of 2022	$ 24,618
2023	51,982
2024	51,352
2025	50,542
2026	48,709
After 2026	$ 523,631

Debt (Narrative) (Details)

Debt (Narrative) (Details)	6 Months Ended
	Jul. 01, 2022 USD ($)
Secured Debt | Senior secured term loan A
Debt Instrument [Line Items]
Debt instrument term	5 years
Debt weighted average interest rate	3.17%
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	4.17%
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%
Secured Debt | Senior secured term loan B | Base rate
Debt Instrument [Line Items]
Variable rate basis spread	1.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt weighted average interest rate	3.21%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt instrument term	5 years
Remaining borrowing capacity	$ 249,200,000
Commitment fee on unused portion	0.18%
Revolving Credit Facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Commitment fee on unused portion	0.15%
Revolving Credit Facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Commitment fee on unused portion	0.25%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate One- Month (LIBOR) | Minimum
Debt Instrument [Line Items]
Variable rate basis spread	1.25%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate One- Month (LIBOR) | Maximum
Debt Instrument [Line Items]
Variable rate basis spread	2.25%
Revolving Credit Facility | Line of Credit | Senior secured term loan A
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 400,000,000
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%
Revolving Credit Facility | Line of Credit | Senior secured term loan A | Base rate | Minimum
Debt Instrument [Line Items]
Variable rate basis spread	0.25%
Revolving Credit Facility | Line of Credit | Senior secured term loan A | Base rate | Maximum
Debt Instrument [Line Items]
Variable rate basis spread	1.25%
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]
Interest expense ratio	2.50
Revolving Credit Facility | Secured Debt | Senior secured term loan A | Through Maturity
Debt Instrument [Line Items]
Net leverage ratio incremental increase option	5.50
Revolving Credit Facility | Secured Debt | Senior secured term loan A | Third Fiscal Quarter of 2023
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
Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit outstanding amount	$ 5,500,000

Debt (Schedule of Long-Term Deb

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized discount on term loan B and deferred debt issuance costs	$ (6,724)	$ (7,361)
Total debt	947,139	828,126
Current portion of long-term debt	(15,250)	(15,250)
Total long-term debt	931,889	812,876
Secured Debt | Senior secured term loan A
Debt Instrument [Line Items]
Long-term debt, gross	461,188	467,062
Secured Debt | Senior secured term loan B
Debt Instrument [Line Items]
Long-term debt, gross	347,375	349,125
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 145,300	$ 19,300

Debt (Long-term Debt Maturity S

Debt (Long-term Debt Maturity Schedule) (Details) $ in Thousands	Jul. 01, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 7,625
2023	18,187
2024	29,938
2025	38,750
2026	527,738
After 2026	$ 331,625

Stock-Based Compensation (Alloc

Stock-Based Compensation (Allocation of Recognized Period Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 5,956	$ 4,249	$ 10,951	$ 8,953
Cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	837	823	1,606	1,937
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	4,308	3,215	7,853	6,570
Research, development and engineering
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	338	211	663	446
Restructuring and other charges
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	473	0	829	0
RSUs and PRSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based payment arrangement, expense	$ 5,956	$ 4,249	$ 10,951	$ 8,953

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options Activity) (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jul. 01, 2022 USD ($) $ / shares shares
Number of Stock Options
Options outstanding, beginning balance (in shares) | shares	247,640
Options outstanding, ending balance (in shares) | shares	247,640
Options exercisable at period end (in dollars per share) | shares	247,640
Weighted Average Exercise Price
Options outstanding, beginning (in dollars per share) | $ / shares	$ 38.03
Options outstanding, ending (in dollars per share) | $ / shares	38.03
Options exercisable at period end (in dollars per share) | $ / shares	$ 38.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average remaining contractual life	3 years 7 months 6 days
Options exercisable, weighted average remaining contractual life	3 years 7 months 6 days
Options outstanding, intrinsic value | $	$ 8.4
Options exercisable, intrinsic value | $	$ 8.4

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	6 Months Ended
	Jul. 01, 2022
Time-vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Award vesting period	1 year
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Performance period	5 years

Stock-Based Compensation (Restr

Stock-Based Compensation (Restricted Stock and Restricted Stock Units Activity) (Details)	6 Months Ended
	Jul. 01, 2022 $ / shares shares
Time-vested RSUs
Time-Vested and Performance-Vested Activity
Nonvested, beginning (in shares) | shares	248,131
Granted (in shares) | shares	179,242
Vested (in shares) | shares	(81,171)
Forfeited (in shares) | shares	(10,997)
Nonvested, ending (in shares) | shares	335,205
Weighted Average Grant Date Fair Value
Nonvested, beginning (in dollars per share) | $ / shares	$ 81.14
Granted (in dollars per share) | $ / shares	78.85
Vested (in dollars per share) | $ / shares	79.60
Forfeited (in dollars per share) | $ / shares	79.35
Nonvested, ending (in dollars per share) | $ / shares	$ 80.35
PRSUs
Time-Vested and Performance-Vested Activity
Nonvested, beginning (in shares) | shares	198,869
Granted (in shares) | shares	131,393
Forfeited (in shares) | shares	(51,375)
Nonvested, ending (in shares) | shares	278,887
Weighted Average Grant Date Fair Value
Nonvested, beginning (in dollars per share) | $ / shares	$ 92.07
Granted (in dollars per share) | $ / shares	90.84
Forfeited (in dollars per share) | $ / shares	99.62
Nonvested, ending (in dollars per share) | $ / shares	$ 90.10

Stock-Based Compensation (Valua

Stock-Based Compensation (Valuation Assumptions) (Details) - PRSUs - $ / shares	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 97.58	$ 85.16
Risk-free interest rate	1.58%	0.19%
Expected volatility	42%	41%
Expected life (in years)	3 years 10 months 24 days	3 years
Expected dividend yield	0%	0%
Weighted average illiquidity discount	9.25%	8.19%
Restriction period	6 months	6 months

Restructuring and Other Charg_3

Restructuring and Other Charges (Schedule of Restructuring And Other Charges Components) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Restructuring and Related Activities [Abstract]
Restructuring and other charges	$ (5)	$ 191	$ 1,098	$ 845
Acquisition and integration costs	3,333	26	5,269	110
Other general expenses	205	62	501	239
Restructuring and other charges	$ 3,533	$ 279	$ 6,868	$ 1,194

Restructuring and Other Charg_4

Restructuring and Other Charges (Schedule of Restructuring Restructuring-Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Restructuring charges:
Restructuring and other charges	$ (5)	$ 191	$ 1,098	$ 845
Total restructuring and restructuring-related charges	884		2,637
Cost of sales
Restructuring charges:
Total restructuring and restructuring-related charges	179		334
Selling, general and administrative expenses
Restructuring charges:
Total restructuring and restructuring-related charges	384		702
Research, development and engineering
Restructuring charges:
Total restructuring and restructuring-related charges	$ 326		$ 503

Restructuring and Other Charg_5

Restructuring and Other Charges (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Restructuring Cost and Reserve [Line Items]
Acquisition and integration costs	$ 3,333	$ 26	$ 5,269	$ 110
Oscor And Aran Acquisitions
Restructuring Cost and Reserve [Line Items]
Acquisition and integration costs			5,300
Strategic Reorganization And Alignment Initiatives 2021
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	1,900		1,900
Strategic Reorganization And Alignment Initiatives 2021 | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	5,000		5,000
Strategic Reorganization And Alignment Initiatives 2021 | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	8,000		8,000
Employee Severance | Operational Excellence Initiatives, 2022 Initiatives
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	700		700
Employee Severance | Operational Excellence Initiatives, 2022 Initiatives | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	3,000		3,000
Employee Severance | Operational Excellence Initiatives, 2022 Initiatives | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	5,000		5,000
Employee Severance | Operational Excellence Initiatives, 2021 Initiatives
Restructuring Cost and Reserve [Line Items]
Costs incurred since inception	4,600		4,600
Employee Severance | Operational Excellence Initiatives, 2021 Initiatives | Minimum
Restructuring Cost and Reserve [Line Items]
Expected costs	4,000		4,000
Employee Severance | Operational Excellence Initiatives, 2021 Initiatives | Maximum
Restructuring Cost and Reserve [Line Items]
Expected costs	$ 5,000		$ 5,000

Restructuring and Other Charg_6

Restructuring and Other Charges (Schedule of Restructuring Reserve By Type of Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Restructuring Reserve [Roll Forward]
Beginning balance			$ 432
Charges incurred, net of reversals	$ (5)	$ 191	1,098	$ 845
Cash payments			(871)
Ending balance	659		659
Operational excellence initiatives
Restructuring Reserve [Roll Forward]
Beginning balance			298
Charges incurred, net of reversals			704
Cash payments			(825)
Ending balance	177		177
Strategic reorganization and alignment
Restructuring Reserve [Roll Forward]
Beginning balance			134
Charges incurred, net of reversals			394
Cash payments			(46)
Ending balance	$ 482		$ 482

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	14.70%	4.40%	16.10%	8.60%
Income before provision for income taxes	$ 24,423,000	$ 30,778,000	$ 38,371,000	$ 55,756,000
Discrete tax benefits	0	3,800,000	500,000	4,400,000
Significant change in unrecognized tax benefits is reasonably possible, amount of unrecorded benefit		$ 3,500,000		$ 3,500,000
Unrecognized tax benefits	6,000,000		6,000,000
Accrued payroll taxes	$ 4,800,000		$ 4,800,000		$ 4,800,000

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Product Warranty Liability) (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2022 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 509
Additions to warranty reserve, net of reversals	(17)
Adjustments to pre-existing warranties	(15)
Balance at end of period	$ 477

Earnings Per Share (_EPS_) (Det

Earnings Per Share (“EPS”) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Numerator for basic and diluted EPS:
Net income	$ 20,836	$ 29,433	$ 32,203	$ 50,953
Denominator for basic and diluted EPS:
Weighted average shares outstanding - Basic (in shares)	33,111	32,982	33,101	32,970
Dilutive effect of share-based awards (in shares)	239	272	225	251
Weighted average shares outstanding - Diluted (in shares)	33,350	33,254	33,326	33,221
Basic EPS (in dollars per share)	$ 0.63	$ 0.89	$ 0.97	$ 1.55
Diluted EPS (in dollars per share)	$ 0.62	$ 0.89	$ 0.97	$ 1.53
Time-vested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)	5	0	4	5
PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)	165	63	165	64

Stockholders' Equity (Shares Is

Stockholders' Equity (Shares Issued and Outstanding) (Details) - shares	6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021
Class Of Stock [Roll Forward]
Shares outstanding beginning balance (in shares)	33,063,336
Shares outstanding ending balance (in shares)	33,121,833
Common Stock
Class Of Stock [Roll Forward]
Shares outstanding beginning balance (in shares)	33,063,336	32,908,178
Stock options exercised (in shares)	0	15,075
Shares outstanding ending balance (in shares)	33,121,833	32,999,051
Restricted Stock | Common Stock
Class Of Stock [Roll Forward]
Vesting of RSUs, net of shares withheld to cover taxes (in shares)	58,497	75,798

Stockholders' Equity (Accumulat

Stockholders' Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 1,364,350	$ 1,277,724	$ 1,354,697	$ 1,271,055
Unrealized loss on cash flow hedges	(230)	447	2,026	(556)
Balance, ending balance	1,363,451	1,314,572	1,363,451	1,314,572
Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Unrealized loss on cash flow hedges	(233)	(388)	(361)	(908)
Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Unrealized loss on cash flow hedges	416	786	1,022	1,603
Defined Benefit Plan Liability
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(890)	(1,095)	(890)	(1,095)
Balance, ending balance	(890)	(1,095)	(890)	(1,095)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	1,170	(5,850)	(2,291)	(4,956)
Reclassification from AOCI, before tax	(291)	565	2,565	(704)
Reclassification from AOCI, tax	61	(118)	(539)	148
Balance, ending balance	1,110	(4,780)	1,110	(4,780)
Cash Flow Hedges | Foreign exchange contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax	(295)	(490)	(457)	(1,149)
Reclassification from AOCI, tax	62	102	96	241
Cash Flow Hedges | Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification from AOCI, before tax	526	995	1,293	2,029
Reclassification from AOCI, tax	(110)	(209)	(271)	(426)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	21,833	41,182	29,720	57,546
Reclassification from AOCI, before tax	(27,274)	2,484	(35,161)	(13,880)
Reclassification from AOCI, tax	0	0	0	0
Unrealized loss on cash flow hedges	(27,274)	2,484	(35,161)	(13,880)
Balance, ending balance	(5,441)	43,666	(5,441)	43,666
Total Pre-Tax Amount
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	22,113	34,237	26,539	51,495
Balance, ending balance	(5,221)	37,791	(5,221)	37,791
Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(76)	1,385	651	1,197
Balance, ending balance	(63)	1,160	(63)	1,160
Net-of-Tax Amount
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	22,037	35,622	27,190	52,692
Balance, ending balance	$ (5,284)	$ 38,951	$ (5,284)	$ 38,951

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 - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Interest rate swaps	$ 841
Assets: Foreign currency hedging contracts	1,395	$ 687
Liabilities: Foreign currency hedging contracts	1,126
Liabilities: Interest rate swap		2,978
Liabilities: Contingent consideration	9,072	2,415
Quoted Prices in Active Markets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Interest rate swaps	0
Assets: Foreign currency hedging contracts	0	0
Liabilities: Foreign currency hedging contracts	0
Liabilities: Interest rate swap		0
Liabilities: Contingent consideration	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Interest rate swaps	841
Assets: Foreign currency hedging contracts	1,395	687
Liabilities: Foreign currency hedging contracts	1,126
Liabilities: Interest rate swap		2,978
Liabilities: Contingent consideration	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets: Interest rate swaps	0
Assets: Foreign currency hedging contracts	0	0
Liabilities: Foreign currency hedging contracts	0
Liabilities: Interest rate swap		0
Liabilities: Contingent consideration	$ 9,072	$ 2,415

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements (Schedule of Interest Rate Swaps) (Details) - Interest Rate Swap Maturing June 2023 - Designated as Hedging Instrument - USD ($)	Jul. 01, 2022	Dec. 31, 2021
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000,000
Pay Fixed Rate	2.1785%
Receive Current Floating Rate	1.624%
Fair Value	$ 841,000
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Notional Amount		$ 150,000,000
Pay Fixed Rate		2.1785%
Receive Current Floating Rate		0.1013%
Fair Value		$ (2,978,000)

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements (Schedule of Foreign Currency Contracts) (Details) - Foreign Exchange Contract Maturing December 2022 - Designated as Hedging Instrument $ in Thousands	Jul. 01, 2022 USD ($) $ / € $ / $ $ / $	Dec. 31, 2021 USD ($) $ / € $ / $ $ / $
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount	$ 10,923
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0455
Fair Value	$ 728
Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 6,830
$/Foreign currency (in dollars per foreign currency) | $ / €	1.1383
Fair Value	$ (522)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount	$ 4,106
$/Foreign currency (in dollars per foreign currency) | $ / $	0.0216
Fair Value	$ 667
Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 6,760
$/Foreign currency (in dollars per foreign currency) | $ / €	1.1266
Fair Value	$ (453)
Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Notional Amount	$ 3,833
$/Foreign currency (in dollars per foreign currency) | $ / €	1.0952
Fair Value	$ (151)
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount		$ 22,201
$/Foreign currency (in dollars per foreign currency) | $ / $		0.0463
Fair Value		$ 408
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount		$ 17,017
$/Foreign currency (in dollars per foreign currency) | $ / €		1.1344
Fair Value		$ 130
Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Notional Amount		$ 9,020
$/Foreign currency (in dollars per foreign currency) | $ / $		0.0220
Fair Value		$ 149

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements (Impact of Cash Flow Hedges on Other Comprehensive Income (Loss), AOCI and the Condensed Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total sales	$ 350,081	$ 312,023	$ 660,993	$ 602,490
Cost of sales	257,184	223,277	486,621	429,258
Operating expenses	60,190	49,396	119,168	99,274
Interest expense	7,773	7,532	13,741	16,064
Sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(371)	29	(425)	37
Sales | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	(1,167)	148	(1,681)	(738)
Cost of sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	554	450	746	1,074
Cost of sales | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	96	725	1,365	166
Operating expenses
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	112	11	136	38
Operating expenses | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	78	67	355	(23)
Interest expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(526)	(995)	(1,293)	(2,029)
Interest expense | Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) Recognized in OCI	$ 702	$ (375)	$ 2,526	$ (109)

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 01, 2022 USD ($) contract	Jul. 01, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative instruments net loss to be reclassified to net income during next twelve months		$ 1.1
Chinese Venture Capital Fund
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity method investment ownership	6.80%	6.80%
Accrued expenses and other current liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, current	$ 8.4	$ 8.4	$ 0.9
Other long-term liabilities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration liability, noncurrent	$ 0.7	$ 0.7	$ 1.5
Not Designated as Hedging Instrument | Foreign exchange contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Number of contract outstanding | contract	2	2	1
National amount	$ 13.9	$ 13.9	$ 15
Derivative asset, fair value	0.1	0.1
Fair Value			$ 0.1
Unrealized gain on cash flow hedges, pretax	$ 0.4	$ 0.7

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements (Estimated Fair Values for Contingent Consideration) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 1,976	$ 2,281	$ 2,415	$ 3,900
Amount recorded for current year acquisitions	7,375	0	7,375	0
Fair value measurement adjustment	0	0	54	0
Payments	0	0	(493)	(1,621)
Foreign currency translation	(279)	0	(279)	2
Balance at end of period	$ 9,072	$ 2,281	$ 9,072	$ 2,281

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements (Contingent Consideration Measurement Inputs) (Details) $ in Thousands	Jul. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
InoMec Ltd
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, maximum payout (undiscounted)	$ 5,375	$ 6,750
Aran
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, maximum payout (undiscounted)	10,484
Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, fair value	9,072	2,415
Fair Value | InoMec Ltd
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, fair value	1,976	$ 2,415
Fair Value | Aran
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Revenue-based payments, fair value	$ 7,096
Fair Value | Revenue volatility | Weighted Average | InoMec Ltd
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.267	0.290
Fair Value | Discount rate | Weighted Average | InoMec Ltd
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.018	0.018
Fair Value | Discount rate | Weighted Average | Aran
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.097
Fair Value | Probability Of Occurrence Measurement Input | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0
Fair Value | Probability Of Occurrence Measurement Input | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	0.50

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements (Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Equity method investment	$ 13,468		$ 13,468		$ 16,192
Non-marketable equity securities	5,637		5,637		5,637
Total equity investments	19,105		19,105		$ 21,829
Equity method investment loss	$ 320	$ 684	$ 2,724	$ 2,019

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022 USD ($)	Jul. 02, 2021 USD ($)	Jul. 01, 2022 USD ($) segment	Jul. 02, 2021 USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment			2
Total sales	$ 350,081	$ 312,023	$ 660,993	$ 602,490
Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	339,834	301,626	641,861	584,591
Cardio & Vascular | Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	180,604	144,683	339,641	285,889
Cardio & Vascular | Operating Segments | Medical | Revision of Prior Period, Adjustment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales		(7,900)		(15,900)
Advanced Surgical, Orthopedics & Portable Medical | Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 23,285	23,283	$ 42,951	43,339
Advanced Surgical, Orthopedics & Portable Medical | Operating Segments | Medical | Revision of Prior Period, Adjustment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales		$ (6,000)		$ (11,300)

Segment Information (Reconcilia

Segment Information (Reconciliation of Revenue from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 350,081	$ 312,023	$ 660,993	$ 602,490
Operating Segments | Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	339,834	301,626	641,861	584,591
Operating Segments | Medical | Cardio & Vascular
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	180,604	144,683	339,641	285,889
Operating Segments | Medical | Cardiac Rhythm Management & Neuromodulation
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	135,945	133,660	259,269	255,363
Operating Segments | Medical | Advanced Surgical, Orthopedics & Portable Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	23,285	23,283	42,951	43,339
Operating Segments | Non-Medical
Segment Reporting, Revenue Reconciling Item [Line Items]
Total sales	$ 10,247	$ 10,397	$ 19,132	$ 17,899

Segment Information (Reconcil_2

Segment Information (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Segment Reporting Information [Line Items]
Operating income	$ 32,707	$ 39,350	$ 55,204	$ 73,958
Unallocated expenses, net	(8,284)	(8,572)	(16,833)	(18,202)
Income before taxes	24,423	30,778	38,371	55,756
Operating Segments
Segment Reporting Information [Line Items]
Operating income	56,205	59,795	101,018	115,322
Operating Segments | Medical
Segment Reporting Information [Line Items]
Operating income	54,580	56,439	98,728	111,964
Operating Segments | Non-Medical
Segment Reporting Information [Line Items]
Operating income	1,625	3,356	2,290	3,358
Segment Reconciling Items
Segment Reporting Information [Line Items]
Operating income	$ (23,498)	$ (20,445)	$ (45,814)	$ (41,364)

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Concentration Risk [Line Items]
Revenue recognized that was included in contract liability balance at beginning of period	$ 0.8	$ 0.2	$ 1.7	$ 1.1
Revenue Benchmark | Product Concentration Risk | Transferred over Time
Concentration Risk [Line Items]
Concentration risk percentage	32%	34%	31%	34%

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		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Medical | Customer A
Disaggregation of Revenue [Line Items]
Concentration risk percentage	18%	20%	18%	21%
Medical | Customer B
Disaggregation of Revenue [Line Items]
Concentration risk percentage	17%	17%	17%	17%
Medical | Customer C
Disaggregation of Revenue [Line Items]
Concentration risk percentage	14%	14%	14%	14%
Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	51%	49%	51%	48%
Non-Medical | Customer D
Disaggregation of Revenue [Line Items]
Concentration risk percentage	42%	36%	37%	32%
Non-Medical | All other customers
Disaggregation of Revenue [Line Items]
Concentration risk percentage	58%	64%	63%	68%

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		6 Months Ended
	Jul. 01, 2022	Jul. 02, 2021	Jul. 01, 2022	Jul. 02, 2021
Medical | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	52%	53%	51%	53%
Medical | Puerto Rico
Disaggregation of Revenue [Line Items]
Concentration risk percentage		10%		10%
Medical | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	48%	37%	49%	37%
Non-Medical | United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage	71%	70%	67%	69%
Non-Medical | All other countries
Disaggregation of Revenue [Line Items]
Concentration risk percentage	29%	30%	33%	31%

Revenue From Contracts With C_6

Revenue From Contracts With Customers Contract with Customer (Assets and Liability) (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 70,408	$ 64,743
Contract liabilities	$ 8,718	$ 3,776