TTM (TTMI) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 04, 2022	May 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 4, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Trading Symbol	TTMI
Entity Registrant Name	TTM TECHNOLOGIES, INC.
Entity Central Index Key	0001116942
Current Fiscal Year End Date	--01-02
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		101,012,236
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	0-31285
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	91-1033443
Entity Address, Address Line One	200 East Sandpointe
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Santa Ana
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92707
City Area Code	714
Local Phone Number	327-3000
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Current assets:
Cash and cash equivalents	$ 519,079	$ 537,678
Accounts receivable, net	412,432	386,347
Contract assets	318,713	324,862
Inventories	137,343	127,612
Prepaid expenses and other current assets	46,616	30,914
Total current assets	1,434,183	1,407,413
Property, plant and equipment, net	663,394	665,755
Operating lease right-of-use assets	19,503	20,802
Goodwill	637,324	637,324
Definite-lived intangibles, net	230,260	239,918
Deposits and other non-current assets	59,484	54,335
Total assets	3,044,148	3,025,547
Current liabilities:
Accounts payable	383,929	361,484
Contract liabilities	22,524	14,189
Accrued salaries, wages and benefits	88,992	89,446
Other current liabilities	91,121	93,029
Total current liabilities	586,566	558,148
Long-term debt, net of discount and issuance costs	928,210	927,818
Operating lease liabilities	13,917	15,252
Other long-term liabilities	67,626	68,912
Total long-term liabilities	1,009,753	1,011,982
Commitments and contingencies (Note 14)
Equity:
Common stock, $0.001 par value; 300,000 shares authorized; 108,383 and 108,194 shares issued as of April 4, 2022 and January 3, 2022, respectively; 101,387 and 103,533 shares outstanding as of April 4, 2022 and January 3, 2022, respectively	108	108
Treasury stock – common stock at cost; 6,996 and 4,661 shares as of April 4, 2022 and January 3, 2022, respectively	(93,467)	(63,807)
Additional paid-in capital	842,788	840,113
Retained earnings	723,504	706,258
Accumulated other comprehensive loss	(25,104)	(27,255)
Total stockholders’ equity	1,447,829	1,455,417
Total liabilities and stockholders' equity	$ 3,044,148	$ 3,025,547

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Apr. 04, 2022	Jan. 03, 2022
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	108,383,000	108,194,000
Common stock, shares outstanding	101,387,000	103,533,000
Treasury stock, common shares	6,996,000	4,661,000

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Income Statement [Abstract]
Net sales	$ 581,260	$ 526,432
Cost of goods sold	490,337	444,832
Gross profit	90,923	81,600
Operating expenses:
Selling and marketing	18,272	16,282
General and administrative	32,954	31,527
Research and development	5,555	4,470
Amortization of definite-lived intangibles	8,274	9,521
Total operating expenses	65,055	61,800
Operating income	25,868	19,800
Other (expense) income:
Interest expense	(11,361)	(11,389)
Loss on extinguishment of debt		(15,217)
Other, net	1,970	2,507
Total other expense, net	(9,391)	(24,099)
Income (loss) before income taxes	16,477	(4,299)
Income tax benefit	769	1,107
Net income (loss)	$ 17,246	$ (3,192)
Earnings (loss) per share:
Basic earnings (loss) per share	$ 0.17	$ (0.03)
Diluted earnings (loss) per share	$ 0.17	$ (0.03)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 17,246	$ (3,192)
Other comprehensive income, net of tax:
Foreign currency translation adjustments, net	(36)	(3)
Net unrealized gain on cash flow hedges:
Unrealized gain (loss) on effective cash flow hedges during the period, net	153	(263)
Loss realized in the statement of operations, net	2,034	2,052
Net	2,187	1,789
Other comprehensive income, net of tax	2,151	1,786
Comprehensive income (loss), net of tax	$ 19,397	$ (1,406)

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance at Dec. 28, 2020	$ 1,444,009	$ 107		$ 830,971	$ 651,844	$ (38,913)
Beginning balance (in shares) at Dec. 28, 2020		106,770
Net income (loss)	(3,192)				(3,192)
Other comprehensive income	1,786					1,786
Issuance of common stock for performance-based restricted stock units (in shares)		135
Issuance of common stock for restricted stock units (in shares)		203
Fair value of warrants reclassified to warrant liabilities	(4,345)			(4,345)
Issuance of common stock from warrant exercises (in shares)		5
Stock-based compensation	4,209			4,209
Ending balance at Mar. 29, 2021	1,442,467	$ 107		830,835	648,652	(37,127)
Ending balance (in shares) at Mar. 29, 2021		107,113
Beginning balance at Jan. 03, 2022	1,455,417	$ 108	$ (63,807)	840,113	706,258	(27,255)
Beginning balance (in shares) at Jan. 03, 2022		108,194	(4,661)
Net income (loss)	17,246				17,246
Other comprehensive income	2,151					2,151
Issuance of common stock for performance-based restricted stock units (in shares)		182
Issuance of common stock for restricted stock units (in shares)		7
Repurchases of common stock	$ (30,232)		$ (30,232)
Repurchases of common stock (in shares)	(2,373)		(2,373)
Fair value of warrants reclassified to warrant liabilities	$ (987)			(987)
Issuance of stock from warrant exercises			$ 572	(572)
Issuance of common stock from warrant exercises (in shares)			38
Stock-based compensation	4,234			4,234
Ending balance at Apr. 04, 2022	$ 1,447,829	$ 108	$ (93,467)	$ 842,788	$ 723,504	$ (25,104)
Ending balance (in shares) at Apr. 04, 2022		108,383	(6,996)

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Cash flows from operating activities:
Net income (loss)	$ 17,246	$ (3,192)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	21,500	21,476
Amortization of definite-lived intangible assets	9,658	10,905
Amortization of debt discount and issuance costs	533	537
Loss on extinguishment of debt		15,217
Deferred income taxes	(3,298)	683
Stock-based compensation	4,234	4,209
Other	(1,360)	(534)
Changes in operating assets and liabilities:
Accounts receivable, net	(26,085)	14,337
Contract assets	6,149	1,554
Inventories	(9,731)	(5,473)
Prepaid expenses and other current assets	(15,848)	(6,495)
Accounts payable	24,112	10,885
Contract liabilities	8,335	(768)
Accrued salaries, wages and benefits	(454)	(15,067)
Other current liabilities	1,000	(7,129)
Net cash provided by operating activities	35,991	41,145
Cash flows from investing activities:
Purchase of property, plant and equipment and other assets	(23,445)	(21,797)
Proceeds from sale of property, plant and equipment and other assets	25	831
Net cash used in investing activities	(23,420)	(20,966)
Cash flows from financing activities:
Repurchases of common stock	(30,232)
Cash used to settle warrants	(887)
Proceeds from long-term debt borrowing		500,000
Repayment of long-term debt borrowings		(425,838)
Payment of debt issuance costs		(4,773)
Other		(1,309)
Net cash (used in) provided by financing activities	(31,119)	68,080
Effect of foreign currency exchange rates on cash and cash equivalents	(51)	(176)
Net (decrease) increase in cash and cash equivalents	(18,599)	88,083
Cash and cash equivalents at beginning of period	537,678	451,565
Cash and cash equivalents at end of period	519,079	539,648
Supplemental cash flow information:
Cash paid, net for interest	17,563	15,244
Cash paid, net for income taxes	3,259	713
Supplemental disclosure of noncash investing and financing activities:
Property, plant and equipment recorded in accounts payable	31,656	28,960
Issuance of common stock for warrant settlement	$ 589	$ 68

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Apr. 04, 2022
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	(1) Nature of Operations and Basis of Presentation TTM Technologies, Inc. (the Company or TTM) is a leading global printed circuit board (PCB) manufacturer, focusing on quick-turn and volume production of technologically advanced PCBs and backplane assemblies as well as a global designer and manufacturer of high-frequency radio frequency (RF) and microwave/microelectronics components and assemblies. The Company provides time-to-market and volume production of advanced technology products and offers a one-stop design, engineering, and manufacturing solution to customers. This one-stop design, engineering, and manufacturing solution allows the Company to align technology developments with the diverse needs of the Company’s customers and to enable them to reduce the time required to develop new products and bring them to market. The Company serves a diversified customer base in various markets throughout the world, including aerospace and defense, data center computing, automotive components, medical, industrial and instrumentation related products, as well as networking/communications infrastructure products. The Company’s customers include both original equipment manufacturers (OEMs) and electronic manufacturing services (EMS) providers. The accompanying consolidated condensed financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. It is suggested that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s most recent Annual Report on Form 10-K. The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated condensed financial statements and accompanying notes. Due, in part, to the on-going coronavirus (COVID-19) global pandemic, the global economy and financial markets have been volatile, and the pandemic has contributed to disruptions in global supply chains and labor shortages and high inflation, and there is a significant amount of uncertainty about the length and severity of the consequences caused by the ongoing pandemic. The Company has considered information available to it as of the date of issuance of these financial statements and is not aware of any specific events or circumstances that would require an update to its estimates or judgments, or a revision to the carrying value of its assets or liabilities. Actual results could differ materially from those estimates. The Company uses a 52/53 week fiscal calendar with the fourth quarter ending on the Monday nearest December 31. Recently Adopted and Issued Accounting Standards Recently Adopted Accounting Standards In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue from Contracts with Customers Recently Issued Accounting Standards Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance

Share Repurchase Program

Share Repurchase Program	3 Months Ended
	Apr. 04, 2022
Share Repurchase Program [Abstract]
Share Repurchase Program	(2) Share Repurchase Program On February 3, 2021, the Company’s Board of Directors authorized and approved a share repurchase program. Under the program, the Company may repurchase up to $100,000 in value of the Company’s outstanding shares of common stock from time to time through February 3, 2023. The Company may repurchase shares through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the Exchange Act) which sets certain restrictions on the method, timing, price, and volume of open market stock repurchases. In addition, the Company adopted a trading plan, which may be amended from time to time, in accordance with Rule 10b5-1 of the Exchange Act to facilitate certain purchases that may be effected under the share repurchase program. The timing, manner, price, and amount of any repurchases are determined at the Company’s discretion, and the share repurchase program may be suspended, terminated, or modified at any time for any reason. The repurchase program does not obligate the Company to acquire any specific number of shares. During the quarter ended April 4, 2022, the Company repurchased 2,373 shares of common stock for a total cost of $30,232 (including commissions). As of April 4, 2022, the remaining amount available to be repurchased under the Company’s share repurchase program was $5,184. Subsequent to April 4, 2022, the Company repurchased 374 shares of common stock for a total cost of $5,192 (including commissions) and there are no amounts available for repurchase as of May 4, 2022.

Leases

Leases	3 Months Ended
	Apr. 04, 2022
Leases [Abstract]
Leases	(3) Leases The Company leases some of its manufacturing and assembly plants, sales offices and equipment under non-cancellable operating leases and finance leases that expire at various dates through 2049. The majority of the Company’s lease arrangements are comprised of fixed payments, and certain leases consist of variable payments based on equipment usage. These variable payments are not included in the measurement of the right-of-use (ROU) asset or lease liability due to uncertainty of the payment amount and are recorded as lease expense in the period incurred. Certain leases contain renewal provisions at the Company’s option. Most of the leases require the Company to pay for certain other costs such as property taxes and maintenance. Certain leases also contain rent escalation clauses (step rents) that require additional rental amounts in the later years of the term. Rent expense for leases with step rents is recognized on a straight-line basis over the minimum lease term. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Operating lease cost $ 1,884 $ 2,208 Variable lease cost 246 234 Short-term lease cost 140 54 Finance lease costs: Amortization of right-of-use assets 344 — Interest on lease liabilities 98 — Supplemental cash flow information related to leases was as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,861 $ 2,159 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 421 284 Supplemental balance sheet information related to leases was as follows: As of Balance Sheet Location April 4, 2022 January 3, 2022 (In thousands) Assets: Operating leases Operating lease right-of-use assets $ 19,503 $ 20,802 Finance leases Property, plant and equipment, net 14,415 14,759 Total lease assets $ 33,918 $ 35,561 Liabilities: Current: Operating leases Other current liabilities $ 6,423 $ 6,362 Finance leases Other current liabilities 702 698 Long-term: Operating leases Operating lease liabilities 13,917 15,252 Finance leases Other long-term liabilities 14,139 14,317 Total lease liabilities $ 35,181 $ 36,629 As of April 4, 2022 January 3, 2022 Weighted average remaining lease term (years): Operating leases 3.7 3.9 Finance leases 14.3 14.6 Weighted average discount rate: Operating leases 2.60 % 2.56 % Finance leases 2.68 % 2.68 % Maturities of lease liabilities were as follows: Operating Leases (1) Finance Leases (In thousands) Less than one year $ 5,195 $ 817 1 - 2 years 6,196 1,110 2 - 3 years 5,014 1,135 3 - 4 years 2,639 1,146 4 - 5 years 1,474 1,175 Thereafter 904 12,656 Total lease payments 21,422 18,039 Less imputed interest (1,082 ) (3,198 ) Total $ 20,340 $ 14,841 (1) Excludes $851 of legally binding

Revenues

Revenues	3 Months Ended
	Apr. 04, 2022
Revenue From Contract With Customer [Abstract]
Revenues	(4) Revenues As of April 4, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations for long-term contracts was $11,877. The Company expects to recognize revenue on approximately 48% of the remaining performance obligations for the Company’s long-term contracts over the next twelve months. Revenue from products and services transferred to customers over time and at a point in time accounted for 97% and 3%, respectively, of the Company’s revenue for the quarter ended April 4, 2022, and 98% and 2%, respectively, of the Company’s revenue for the quarter ended March 29, 2021. The following tables represent a disaggregation of revenue by principal end markets with the reportable segments: Quarter Ended April 4, 2022 PCB RF&S Components Total End Markets (In thousands) Aerospace and Defense $ 172,180 $ — $ 172,180 Automotive 115,236 — 115,236 Data Center Computing 91,784 — 91,784 Medical/Industrial/Instrumentation 120,362 1,538 121,900 Networking/Communications 63,643 13,757 77,400 Other 2,865 (105 ) 2,760 Total $ 566,070 $ 15,190 $ 581,260 Quarter Ended March 29, 2021 PCB RF&S Components Other (1) Total End Markets (In thousands) Aerospace and Defense $ 186,539 $ 6 $ — $ 186,545 Automotive 91,792 — 3,642 95,434 Data Center Computing 71,759 432 — 72,191 Medical/Industrial/Instrumentation 90,770 1,081 25 91,876 Networking/Communications 66,938 10,653 1 77,592 Other 2,688 518 (412 ) 2,794 Total $ 510,486 $ 12,690 $ 3,256 $ 526,432 (1) Other represents results from the now closed Shanghai (SH E-MS) and Shenzhen (SZ) facilities previously utilized by the Company’s former E-M Solutions business unit.

Composition of Certain Consolid

Composition of Certain Consolidated Condensed Financial Statement Captions	3 Months Ended
	Apr. 04, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Composition of Certain Consolidated Condensed Financial Statement Captions	(5) Composition of Certain Consolidated Condensed Financial Statement Captions As of April 4, 2022 January 3, 2022 (In thousands) Inventories: Raw materials $ 123,322 $ 114,653 Work-in-process 9,424 9,620 Finished goods 4,597 3,339 $ 137,343 $ 127,612 Property, plant and equipment, net: Land and land use rights $ 62,080 $ 62,015 Buildings and improvements 434,308 429,344 Machinery and equipment 906,406 891,925 Furniture and fixtures and other 10,406 10,360 Construction-in-progress 23,277 25,554 1,436,477 1,419,198 Less: Accumulated depreciation (773,083 ) (753,443 ) $ 663,394 $ 665,755 Other current liabilities: Sales return and allowances $ 12,463 $ 12,853 Income taxes payable 10,531 7,162 Operating lease 6,423 6,362 Interest 1,948 8,741 Derivative liabilities 1,437 4,295 Finance leases 702 698 Other 57,617 52,918 $ 91,121 $ 93,029 Other long-term liabilities: Deferred income taxes $ 26,344 $ 28,361 Finance leases 14,139 14,317 Defined benefit pension plan liability 5,013 5,276 Other 22,130 20,958 $ 67,626 $ 68,912

Goodwill

Goodwill	3 Months Ended
	Apr. 04, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	(6) Goodwill As of April 4, 2022 and January 3, 2022, goodwill by reportable segment was as follows: PCB RF&S Components Total (In thousands) Balance as of January 3, 2022 and April 4, 2022 Goodwill $ 700,724 $ 177,200 $ 877,924 Accumulated impairment losses (171,400 ) (69,200 ) (240,600 ) $ 529,324 $ 108,000 $ 637,324

Definite-lived Intangibles

Definite-lived Intangibles	3 Months Ended
	Apr. 04, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Definite-lived Intangibles	(7) Definite-lived Intangibles As of April 4, 2022 and January 3, 2022, the components of definite-lived intangibles were as follows: Gross Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (In thousands) (In years) April 4, 2022 Customer relationships $ 366,071 $ (162,736 ) $ 203,335 11.3 Technology 47,650 (20,725 ) 26,925 9.5 $ 413,721 $ (183,461 ) $ 230,260 January 3, 2022 Customer relationships $ 366,071 $ (154,461 ) $ 211,610 11.3 Technology 47,650 (19,342 ) 28,308 9.5 $ 413,721 $ (173,803 ) $ 239,918 Definite-lived intangibles are amortized using the straight-line method of amortization over the useful life. Amortization expense was $9,658 Estimated aggregate amortization for definite-lived intangible assets for the next five years and thereafter is as follows: (In thousands) Remaining 2022 $ 28,973 2023 36,699 2024 29,516 2025 25,397 2026 25,397 Thereafter 84,278 $ 230,260

Long-term Debt and Letters of C

Long-term Debt and Letters of Credit	3 Months Ended
	Apr. 04, 2022
Debt Disclosure [Abstract]
Long-term Debt and Letters of Credit	(8) Long-term Debt and Letters of Credit The following table summarizes the long-term debt of the Company as of April 4, 2022 and January 3, 2022: Interest Rate as of April 4, 2022 Principal Outstanding as of April 4, 2022 Interest Rate as of January 3, 2022 Principal Outstanding as of January 3, 2022 (In thousands) Senior Notes due March 2029 4.00 % $ 500,000 4.00 % $ 500,000 Term Loan due September 2024 2.93 405,879 2.60 405,879 Asia ABL Revolving Loan due June 2024 1.83 30,000 1.50 30,000 935,879 935,879 Less: Long-term debt unamortized discount (555 ) (607 ) Long-term debt unamortized debt issuance costs (7,114 ) (7,454 ) 928,210 927,818 Less: current maturities — — Long-term debt, less current maturities $ 928,210 $ 927,818 Debt Covenants Borrowings under the Senior Notes due 2029 and Term Loan Facility are subject to certain affirmative and negative covenants, including limitations on indebtedness, corporate transactions, investments, dispositions, and share payments. Under the occurrence of certain events, the U.S. Asset-Based Lending Credit Agreement (U.S. ABL) and Asia Asset-Based Lending Credit Agreement (Asia ABL) (collectively, the ABL Revolving Loans), are subject to various financial covenants, including leverage and fixed charge coverage ratios. Debt Issuance and Debt Discount As of April 4 , 2022 As of April 4, 2022 As of January 3, 2022 Debt Issuance Costs Debt Discount Effective Interest Rate Debt Issuance Costs Debt Discount Effective Interest Rate (In thousands, except interest rates) Senior Notes due March 2029 $ 5,280 $ — 4.18 % $ 5,444 $ — 4.18 % Term Loan due September 2024 1,834 555 4.66 2,010 607 4.66 $ 7,114 $ 555 $ 7,454 $ 607 The above debt discount and debt issuance costs are recorded as a reduction of the debt and are amortized into interest expense using an effective interest rate over the duration of the debt. Remaining unamortized debt issuance costs for the ABL Revolving Loans of $1,214 and $1,355 as of April 4 , 2022 As of April 4 , 2022 Loss on Extinguishment of Debt During the quarter ended March 29, 2021, the Company recognized losses of $15,217 associated with the premium paid on extinguishment of debt and the write-off of the remaining unamortized debt issuance costs as a result of the repayment of the remaining outstanding balance of the Senior Notes due 2025.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2022
Income Tax Disclosure [Abstract]
Income Taxes	(9) Income Taxes The Company’s effective tax rate is impacted by tax rates in China and Hong Kong, the U.S. federal income tax rate, apportioned state income tax rates, generation of credits and deductions available to the Company as well as changes in valuation allowances and certain non-deductible items. Additionally, no tax benefit was recorded on the losses incurred in certain foreign jurisdictions as a result of corresponding increases in the valuation allowances in these jurisdictions. During the quarter ended April 4, 2022, the Company’s effective tax rate was impacted by a net discrete benefit of $2,047. This is mainly related to the approval of the Company’s renewal application for High and New Tax Enterprise status for two of the Company’s manufacturing subsidiaries in China, and windfall tax benefit of the stock-based compensation releases, which are offset by accrued interest expense on existing uncertain tax positions. The Company has various foreign subsidiaries formed or acquired to conduct or support its business outside the United States. The Company expects its earnings attributable to most foreign subsidiaries may be repatriated back to the U.S. and so a deferred tax liability has been recorded for foreign withholding and the estimated federal/state tax impact. For those other companies with earnings currently being reinvested outside of the U.S., no deferred tax liabilities on undistributed earnings are recorded.

Financial Instruments

Financial Instruments	3 Months Ended
	Apr. 04, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments	(10) Financial Instruments Derivatives Interest Rate Swaps The Company’s business is exposed to risk resulting from fluctuations in interest rates on certain LIBOR-based variable rate debt. Increases in interest rates would increase interest expenses relating to the outstanding variable rate borrowings and increase the cost of debt. Fluctuations in interest rates can also lead to significant fluctuations in the fair value of the debt obligations. On May 15, 2018, the Company entered into a four-year At inception, the Company designated the interest rate swap as a cash flow hedge and the fair value of the interest rate swap was zero. As of April 4, 2022, the fair value of the interest rate swap was recorded as a liability in the amount of $1,385 and included as a component of other current liabilities. The change in the fair value of the interest rate swap is recorded as a component of accumulated other comprehensive loss, net of tax, in the Company’s consolidated condensed balance sheets. No ineffectiveness was recognized for the quarters ended April 4, 2022 and March 29, 2021. The interest rate swap increased interest expense by $2,706 and $2,740 for the quarters ended April 4, 2022 and March 29, 2021, respectively. Foreign Exchange Contracts The Company’s foreign subsidiaries may at times purchase forward exchange contracts to manage their foreign currency risks in relation to certain purchases of machinery denominated in foreign currencies other than the Company’s functional currencies. The notional amount of the foreign exchange contracts as of April 4, 2022 was approximately $1,625 (Euro (EUR) 1.4 million). There were no foreign exchange contracts as of January 3, 2022. Commodity Price Risk Management The Company uses various raw materials in the manufacturing of PCBs. In particular, the Company has been experiencing increasing prices and lead times of copper clad laminates (CCLs), a key raw material for the manufacture of PCBs. CCLs are made from epoxy resin, glass cloth and copper foil, all of which are seeing limited supply and resulting increased prices. The Company only buys a small amount of copper directly. However, copper is a major driver of laminate cost. As such, the Company enters into commodity contracts to hedge copper as a proxy for hedging laminate. As of April 4, 2022, the Company has commodity contracts with a notional quantity of (i) 0.5 metric tonnes for the period beginning April 5, 2022 and ending on June 29, 2022, (ii) 0.6 metric tonnes for the period beginning June 30, 2022 and ending on October 3, 2022, (iii) 0.7 metric tonnes for the period beginning October 4, 2022 and ending on January 3, 2023, and (iv) 0.7 metric tonnes for the period beginning January 1, 2023 and ending on March 31, 2023. As of April 4, 2022, the fair value of the commodity contracts was recorded as an asset in the amount of $1,699 and included as a component of prepaid expenses and other current assets. The changes in the fair value of these commodity contracts are recorded in cost of goods sold in the consolidated condensed statements of operations. The commodity contracts decreased The fair values of derivative instruments in the consolidated condensed balance sheets are as follows: Asset/(Liability) Fair Value Balance Sheet Location April 4, 2022 January 3, 2022 (In thousands) Cash flow derivative instruments designated as hedges: Interest rate swap Other current liabilities $ (1,385 ) $ (4,295 ) Cash flow derivative instruments not designated as hedges: Commodity contracts Prepaid expenses and other current assets 1,699 297 Foreign exchange contracts Other current liabilities (52 ) — The following table provides information about the amounts recorded in accumulated other comprehensive loss related to derivatives designated as cash flow hedges, as well as the amounts recorded in each caption in the consolidated condensed statements of operations when derivative amounts are reclassified out of accumulated other comprehensive loss for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, 2022 Quarter Ended March 29, 2021 Financial Statement Caption Gain Recognized in Other Comprehensive Income Loss Reclassified into Income Loss Recognized in Other Comprehensive Loss Loss Reclassified into Income (In thousands) Cash flow hedge: Interest rate swap Interest expense $ 204 $ (2,706 ) $ (351 ) $ (2,740 ) The following table provides a summary of the activity associated with the designated cash flow hedges reflected in accumulated other comprehensive loss for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, March 29, 2022 2021 (In thousands) Beginning balance, net of tax $ (3,223 ) $ (11,231 ) Changes in fair value gain (loss), net of tax 153 (263 ) Reclassification to earnings 2,034 2,052 Ending balance, net of tax $ (1,036 ) $ (9,442 ) Based on the current yield curve, the Company expects that losses of approximately $1,087 of the accumulated other comprehensive loss will be reclassified into the statement of operations, net of tax, in the next quarter since the interest rate swap arrangement is expiring on June 1, 2022.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 04, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	(11) Accumulated Other Comprehensive Loss The following provides a summary of the components of accumulated other comprehensive loss, net of tax, as of April 4, 2022 and January 3, 2022: Foreign Currency Translation Pension Obligation (Losses) Gains on Cash Flow Hedges Total (In thousands) Ending balance as of January 3, 2022 $ (23,899 ) $ (133 ) $ (3,223 ) $ (27,255 ) Other comprehensive (loss) income before reclassifications (36 ) — 153 117 Amounts reclassified from accumulated other comprehensive loss — — 2,034 2,034 Other comprehensive (loss) income (36 ) — 2,187 2,151 Ending balance as of April 4, 2022 $ (23,935 ) $ (133 ) $ (1,036 ) $ (25,104 )

Significant Customers and Conce

Significant Customers and Concentration of Credit Risk	3 Months Ended
	Apr. 04, 2022
Risks And Uncertainties [Abstract]
Significant Customers and Concentration of Credit Risk	(12) Significant Customers and Concentration of Credit Risk In the normal course of business, the Company extends credit to its customers. Some customers to whom the Company extends credit are located outside the United States. The Company performs ongoing credit evaluations of customers, does not require collateral, and considers the credit risk profile of the entity from which the receivable is due in further evaluating collection risk. The Company’s customers include both OEMs and EMS companies. The Company’s OEM customers often direct a significant portion of their purchases through EMS companies. While the Company’s customers include both OEM and EMS providers, the Company measures customer concentration based on OEM companies, as they are the ultimate end customers. For the quarters ended April 4, 2022 and March 29, 2021, one customer accounted for approximately 10% and 13% of the Company’s net sales, respectively.

Fair Value Measures

Fair Value Measures	3 Months Ended
	Apr. 04, 2022
Fair Value Disclosures [Abstract]
Fair Value Measures	(13) Fair Value Measures The Company measures at fair value its financial and non-financial assets by using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, essentially an exit price, based on the highest and best use of the asset or liability. The carrying amount and estimated fair value of the Company’s financial instruments as of April 4, 2022 and January 3, 2022 were as follows: As of As of April 4, 2022 January 3, 2022 Carrying Amount Fair Value Carrying Amount Fair Value (In thousands) Derivative assets, current $ 1,699 $ 1,699 $ 297 $ 297 Derivative liabilities, current 1,437 1,437 4,295 4,295 Senior Notes due March 2029 494,720 465,035 494,556 498,200 Term Loan due September 2024 403,490 404,357 403,262 406,135 ABL Revolving Loans 30,000 30,000 30,000 30,000 The fair value of the derivative instruments was determined using pricing models developed based on the LIBOR swap rate, foreign currency exchange rates, and other observable market data, including quoted market prices, as appropriate using Level 2 inputs. The values were adjusted to reflect non-performance risk of both the counterparty and the Company, as necessary. The fair value of the long-term debt was estimated based on quoted market prices or discounting the debt over its life using current market rates for similar debt as of April 4, 2022 and January 3, 2022, which are considered Level 2 inputs. As of April 4, 2022 and January 3, 2022, the Company’s other financial instruments included cash and cash equivalents, accounts receivable, contract assets, accounts payable, and contract liabilities. Due to short-term maturities, the carrying amount of these instruments approximates fair value. The Company’s cash and cash equivalents as of April 4, 2022 consisted of $332,757 held in the U.S., with the remaining $186,322 held by foreign subsidiaries. The majority of the Company’s non-financial assets and liabilities, which include goodwill, intangible assets, inventories, and property, plant and equipment, are not required to be carried at fair value on a recurring basis. However, if certain triggering events occur (or are tested at least annually in the case of goodwill) such that a non-financial instrument is required to be evaluated for impairment, based upon a comparison of the non-financial instrument’s fair value to its carrying value, an impairment is recorded to reduce the carrying value to the fair value, if the carrying value exceeds the fair value .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 04, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(14) Commitments and Contingencies Legal Matters The Company is subject to various legal matters, which it considers normal for its business activities. While the Company currently believes that the amount of any reasonably possible loss for known matters would not be material to the Company’s financial condition, the outcome of these actions is inherently difficult to predict. In the event of an adverse outcome, the ultimate potential loss could have a material adverse effect on the Company’s financial condition or results of operations in a particular period. The Company has accrued amounts for its loss contingencies which are probable and estimable as of April 4, 2022 and January 3, 2022. However, these amounts are not material to the consolidated condensed financial statements of the Company.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Apr. 04, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	(15) Earnings (Loss) Per Share The following is a reconciliation of the numerator and denominator used to calculate basic earnings (loss) per share and diluted earnings (loss) per share for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, 2022 March 29, 2021 (In thousands, except per share amounts) Net income (loss) $ 17,246 $ (3,192 ) Basic weighted average shares 102,613 106,825 Dilutive effect of performance-based restricted stock units, restricted stock units and stock options 1,685 — Dilutive effect of outstanding warrants 6 — Diluted shares 104,304 106,825 Earnings (loss) per share: Basic $ 0.17 $ (0.03 ) Diluted $ 0.17 $ (0.03 ) Performance-based restricted stock units (PRUs), restricted stock units (RSUs), and stock options to purchase 975 For the quarter ended March 29, 2021, potential shares of common stock, consisting of stock options to purchase approximately 60 shares of common stock at exercise prices ranging from $11.83 to $16.60 per share, 2,897 RSUs, and 289 PRUs were not included in the computation of diluted earnings per share because the Company incurred a net loss during that quarter and as a result, the impact would be anti-dilutive. Outstanding warrants for the quarter ended March 29, 2021 to purchase common stock were not included in the computation of dilutive earnings per share because the strike price of the warrants to purchase the Company’s common stock was greater than the average market price of common shares during the applicable quarter and because the Company incurred a net loss during that quarter, and therefore, the effect would be anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 04, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	(16) Stock-Based Compensation Stock-based compensation expense is recognized in the accompanying consolidated condensed statements of operations as follows: Quarter Ended April 4, March 29, 2022 2021 (In thousands) Cost of goods sold $ 1,276 $ 1,165 Selling and marketing 650 646 General and administrative 2,053 2,355 Research and development 255 43 Stock-based compensation expense recognized $ 4,234 $ 4,209 Summary of Unrecognized Compensation Costs The following is a summary of total unrecognized compensation costs as of April 4, 2022: Unrecognized Stock-Based Compensation Cost Remaining Weighted Average Recognition Period (In thousands) (In years) RSU awards $ 20,594 1.4 PRU awards 1,092 0.8 Stock options 25 0.5 $ 21,711

Segment Information

Segment Information	3 Months Ended
	Apr. 04, 2022
Segment Reporting [Abstract]
Segment Information	(17) Segment Information The reportable segments shown below are the Company’s segments for which separate financial information is available and upon which operating results are evaluated by the chief operating decision maker to assess performance and to allocate resources. The Company, including the chief operating decision maker, evaluates segment performance based on reportable segment income, which is operating income before amortization of intangibles. Interest expense and interest income are not presented by segment since they are not included in the measure of segment profitability reviewed by the chief operating decision maker. All inter-segment transactions have been eliminated. Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Net Sales: PCB $ 566,070 $ 510,486 RF&S Components 15,190 12,690 Other (1) — 3,256 Total net sales $ 581,260 $ 526,432 Operating Segment Income (Loss): PCB $ 56,540 $ 57,232 RF&S Components 5,750 3,862 Corporate and Other (1) (26,764 ) (30,389 ) Total operating segment income 35,526 30,705 Amortization of definite-lived intangibles (2) (9,658 ) (10,905 ) Total operating income 25,868 19,800 Total other expense (9,391 ) (24,099 ) Income (loss) before income taxes $ 16,477 $ (4,299 ) As of April 4, 2022 January 3, 2022 (In thousands) Segment Assets: PCB $ 1,634,299 $ 1,655,401 RF&S Components 213,139 216,737 Corporate and Other (1) 1,196,710 1,153,409 Total assets $ 3,044,148 $ 3,025,547 (1) Other represents results from the now closed SH E-MS and SZ facilities. (2) Amortization of definite-lived intangibles primarily relates to the PCB and RF&S Components reportable segments. For both the quarters ended April 4, 2022 and March 29, 2021, $1,384 of amortization expense is included in cost of goods sold. The Corporate category primarily includes operating expenses that are not included in the segment operating performance measures. Corporate consists primarily of corporate governance functions such as finance, accounting, information technology and human resources personnel, as well as global sales and marketing personnel, research and development costs, and acquisition and integration costs associated with acquisitions and divestitures. The Company markets and sells its products in approximately 50 countries. Other than in the United States and China, the Company does not conduct business in any country in which its net sales in that country exceed 10% of the Company’s total net sales. Net sales are as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Net Sales: United States $ 264,401 $ 268,467 China 77,205 81,709 Other 239,654 176,256 Total net sales $ 581,260 $ 526,432 Net sales are attributed to countries by country invoiced.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 04, 2022
Subsequent Events [Abstract]
Subsequent Events	(18) Subsequent Events On April 18, 2022, the Company entered into a definitive share purchase agreement to purchase all of the issued and outstanding capital stock of Telephonics Corporation and ISC Farmingdale Corp. for an aggregate purchase price of $330,000 in cash, subject to customary working capital and certain other adjustments. The transaction is expected to close in the second quarter of 2022.

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Apr. 04, 2022
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards Recently Adopted Accounting Standards In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue from Contracts with Customers Recently Issued Accounting Standards Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 04, 2022
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Operating lease cost $ 1,884 $ 2,208 Variable lease cost 246 234 Short-term lease cost 140 54 Finance lease costs: Amortization of right-of-use assets 344 — Interest on lease liabilities 98 —
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,861 $ 2,159 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 421 284
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: As of Balance Sheet Location April 4, 2022 January 3, 2022 (In thousands) Assets: Operating leases Operating lease right-of-use assets $ 19,503 $ 20,802 Finance leases Property, plant and equipment, net 14,415 14,759 Total lease assets $ 33,918 $ 35,561 Liabilities: Current: Operating leases Other current liabilities $ 6,423 $ 6,362 Finance leases Other current liabilities 702 698 Long-term: Operating leases Operating lease liabilities 13,917 15,252 Finance leases Other long-term liabilities 14,139 14,317 Total lease liabilities $ 35,181 $ 36,629 As of April 4, 2022 January 3, 2022 Weighted average remaining lease term (years): Operating leases 3.7 3.9 Finance leases 14.3 14.6 Weighted average discount rate: Operating leases 2.60 % 2.56 % Finance leases 2.68 % 2.68 %
Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: Operating Leases (1) Finance Leases (In thousands) Less than one year $ 5,195 $ 817 1 - 2 years 6,196 1,110 2 - 3 years 5,014 1,135 3 - 4 years 2,639 1,146 4 - 5 years 1,474 1,175 Thereafter 904 12,656 Total lease payments 21,422 18,039 Less imputed interest (1,082 ) (3,198 ) Total $ 20,340 $ 14,841 (1) Excludes $851 of legally binding

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Apr. 04, 2022
Revenue From Contract With Customer [Abstract]
Schedule of Disaggregation of Revenue by Principal End Markets with the Reportable Segment	The following tables represent a disaggregation of revenue by principal end markets with the reportable segments: Quarter Ended April 4, 2022 PCB RF&S Components Total End Markets (In thousands) Aerospace and Defense $ 172,180 $ — $ 172,180 Automotive 115,236 — 115,236 Data Center Computing 91,784 — 91,784 Medical/Industrial/Instrumentation 120,362 1,538 121,900 Networking/Communications 63,643 13,757 77,400 Other 2,865 (105 ) 2,760 Total $ 566,070 $ 15,190 $ 581,260 Quarter Ended March 29, 2021 PCB RF&S Components Other (1) Total End Markets (In thousands) Aerospace and Defense $ 186,539 $ 6 $ — $ 186,545 Automotive 91,792 — 3,642 95,434 Data Center Computing 71,759 432 — 72,191 Medical/Industrial/Instrumentation 90,770 1,081 25 91,876 Networking/Communications 66,938 10,653 1 77,592 Other 2,688 518 (412 ) 2,794 Total $ 510,486 $ 12,690 $ 3,256 $ 526,432 (1) Other represents results from the now closed Shanghai (SH E-MS) and Shenzhen (SZ) facilities previously utilized by the Company’s former E-M Solutions business unit.

Composition of Certain Consol_2

Composition of Certain Consolidated Condensed Financial Statement Captions (Tables)	3 Months Ended
	Apr. 04, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Composition of Certain Consolidated Condensed Financial Statement Captions	As of April 4, 2022 January 3, 2022 (In thousands) Inventories: Raw materials $ 123,322 $ 114,653 Work-in-process 9,424 9,620 Finished goods 4,597 3,339 $ 137,343 $ 127,612 Property, plant and equipment, net: Land and land use rights $ 62,080 $ 62,015 Buildings and improvements 434,308 429,344 Machinery and equipment 906,406 891,925 Furniture and fixtures and other 10,406 10,360 Construction-in-progress 23,277 25,554 1,436,477 1,419,198 Less: Accumulated depreciation (773,083 ) (753,443 ) $ 663,394 $ 665,755 Other current liabilities: Sales return and allowances $ 12,463 $ 12,853 Income taxes payable 10,531 7,162 Operating lease 6,423 6,362 Interest 1,948 8,741 Derivative liabilities 1,437 4,295 Finance leases 702 698 Other 57,617 52,918 $ 91,121 $ 93,029 Other long-term liabilities: Deferred income taxes $ 26,344 $ 28,361 Finance leases 14,139 14,317 Defined benefit pension plan liability 5,013 5,276 Other 22,130 20,958 $ 67,626 $ 68,912

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Apr. 04, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill by Reportable Segment	As of April 4, 2022 and January 3, 2022, goodwill by reportable segment was as follows: PCB RF&S Components Total (In thousands) Balance as of January 3, 2022 and April 4, 2022 Goodwill $ 700,724 $ 177,200 $ 877,924 Accumulated impairment losses (171,400 ) (69,200 ) (240,600 ) $ 529,324 $ 108,000 $ 637,324

Definite-lived Intangibles (Tab

Definite-lived Intangibles (Tables)	3 Months Ended
	Apr. 04, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Definite Lived Intangibles	As of April 4, 2022 and January 3, 2022, the components of definite-lived intangibles were as follows: Gross Amount Accumulated Amortization Net Carrying Amount Weighted Average Amortization Period (In thousands) (In years) April 4, 2022 Customer relationships $ 366,071 $ (162,736 ) $ 203,335 11.3 Technology 47,650 (20,725 ) 26,925 9.5 $ 413,721 $ (183,461 ) $ 230,260 January 3, 2022 Customer relationships $ 366,071 $ (154,461 ) $ 211,610 11.3 Technology 47,650 (19,342 ) 28,308 9.5 $ 413,721 $ (173,803 ) $ 239,918
Estimated Aggregate Amortization for Definite-Lived Intangible Assets	Estimated aggregate amortization for definite-lived intangible assets for the next five years and thereafter is as follows: (In thousands) Remaining 2022 $ 28,973 2023 36,699 2024 29,516 2025 25,397 2026 25,397 Thereafter 84,278 $ 230,260

Long-term Debt and Letters of_2

Long-term Debt and Letters of Credit (Tables)	3 Months Ended
	Apr. 04, 2022
Debt Disclosure [Abstract]
Long-term Debt	The following table summarizes the long-term debt of the Company as of April 4, 2022 and January 3, 2022: Interest Rate as of April 4, 2022 Principal Outstanding as of April 4, 2022 Interest Rate as of January 3, 2022 Principal Outstanding as of January 3, 2022 (In thousands) Senior Notes due March 2029 4.00 % $ 500,000 4.00 % $ 500,000 Term Loan due September 2024 2.93 405,879 2.60 405,879 Asia ABL Revolving Loan due June 2024 1.83 30,000 1.50 30,000 935,879 935,879 Less: Long-term debt unamortized discount (555 ) (607 ) Long-term debt unamortized debt issuance costs (7,114 ) (7,454 ) 928,210 927,818 Less: current maturities — — Long-term debt, less current maturities $ 928,210 $ 927,818
Schedule of Remaining Unamortized Debt Discount and Debt Issuance Costs	As of April 4 , 2022 As of April 4, 2022 As of January 3, 2022 Debt Issuance Costs Debt Discount Effective Interest Rate Debt Issuance Costs Debt Discount Effective Interest Rate (In thousands, except interest rates) Senior Notes due March 2029 $ 5,280 $ — 4.18 % $ 5,444 $ — 4.18 % Term Loan due September 2024 1,834 555 4.66 2,010 607 4.66 $ 7,114 $ 555 $ 7,454 $ 607

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Apr. 04, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Values of Derivative Instruments in Consolidated Condensed Balance Sheets	The fair values of derivative instruments in the consolidated condensed balance sheets are as follows: Asset/(Liability) Fair Value Balance Sheet Location April 4, 2022 January 3, 2022 (In thousands) Cash flow derivative instruments designated as hedges: Interest rate swap Other current liabilities $ (1,385 ) $ (4,295 ) Cash flow derivative instruments not designated as hedges: Commodity contracts Prepaid expenses and other current assets 1,699 297 Foreign exchange contracts Other current liabilities (52 ) —
Summary of Accumulated Other Comprehensive Loss Related to Derivatives Designated as Cash Flow Hedges	The following table provides information about the amounts recorded in accumulated other comprehensive loss related to derivatives designated as cash flow hedges, as well as the amounts recorded in each caption in the consolidated condensed statements of operations when derivative amounts are reclassified out of accumulated other comprehensive loss for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, 2022 Quarter Ended March 29, 2021 Financial Statement Caption Gain Recognized in Other Comprehensive Income Loss Reclassified into Income Loss Recognized in Other Comprehensive Loss Loss Reclassified into Income (In thousands) Cash flow hedge: Interest rate swap Interest expense $ 204 $ (2,706 ) $ (351 ) $ (2,740 )
Summary of Activity of Designated Cash Flow Hedges in Accumulated Other Comprehensive Loss	The following table provides a summary of the activity associated with the designated cash flow hedges reflected in accumulated other comprehensive loss for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, March 29, 2022 2021 (In thousands) Beginning balance, net of tax $ (3,223 ) $ (11,231 ) Changes in fair value gain (loss), net of tax 153 (263 ) Reclassification to earnings 2,034 2,052 Ending balance, net of tax $ (1,036 ) $ (9,442 )

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 04, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss, Net of Tax	The following provides a summary of the components of accumulated other comprehensive loss, net of tax, as of April 4, 2022 and January 3, 2022: Foreign Currency Translation Pension Obligation (Losses) Gains on Cash Flow Hedges Total (In thousands) Ending balance as of January 3, 2022 $ (23,899 ) $ (133 ) $ (3,223 ) $ (27,255 ) Other comprehensive (loss) income before reclassifications (36 ) — 153 117 Amounts reclassified from accumulated other comprehensive loss — — 2,034 2,034 Other comprehensive (loss) income (36 ) — 2,187 2,151 Ending balance as of April 4, 2022 $ (23,935 ) $ (133 ) $ (1,036 ) $ (25,104 )

Fair Value Measures (Tables)

Fair Value Measures (Tables)	3 Months Ended
	Apr. 04, 2022
Fair Value Disclosures [Abstract]
Carrying Amount and Estimated Fair Value of Financial Instruments	The carrying amount and estimated fair value of the Company’s financial instruments as of April 4, 2022 and January 3, 2022 were as follows: As of As of April 4, 2022 January 3, 2022 Carrying Amount Fair Value Carrying Amount Fair Value (In thousands) Derivative assets, current $ 1,699 $ 1,699 $ 297 $ 297 Derivative liabilities, current 1,437 1,437 4,295 4,295 Senior Notes due March 2029 494,720 465,035 494,556 498,200 Term Loan due September 2024 403,490 404,357 403,262 406,135 ABL Revolving Loans 30,000 30,000 30,000 30,000

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Apr. 04, 2022
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used to Calculate Basic Earnings (Loss) per Share and Diluted Earnings (Loss) per Share from Continuing Operations	The following is a reconciliation of the numerator and denominator used to calculate basic earnings (loss) per share and diluted earnings (loss) per share for the quarters ended April 4, 2022 and March 29, 2021: Quarter Ended April 4, 2022 March 29, 2021 (In thousands, except per share amounts) Net income (loss) $ 17,246 $ (3,192 ) Basic weighted average shares 102,613 106,825 Dilutive effect of performance-based restricted stock units, restricted stock units and stock options 1,685 — Dilutive effect of outstanding warrants 6 — Diluted shares 104,304 106,825 Earnings (loss) per share: Basic $ 0.17 $ (0.03 ) Diluted $ 0.17 $ (0.03 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 04, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Amounts Recognized in Consolidated Financial Statements of Operations with Respect to Stock Based Compensation Plan	Stock-based compensation expense is recognized in the accompanying consolidated condensed statements of operations as follows: Quarter Ended April 4, March 29, 2022 2021 (In thousands) Cost of goods sold $ 1,276 $ 1,165 Selling and marketing 650 646 General and administrative 2,053 2,355 Research and development 255 43 Stock-based compensation expense recognized $ 4,234 $ 4,209
Summary of Unrecognized Compensation Costs	The following is a summary of total unrecognized compensation costs as of April 4, 2022: Unrecognized Stock-Based Compensation Cost Remaining Weighted Average Recognition Period (In thousands) (In years) RSU awards $ 20,594 1.4 PRU awards 1,092 0.8 Stock options 25 0.5 $ 21,711

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 04, 2022
Segment Reporting [Abstract]
Reconciliation of Operating Income from Segments to Consolidated	Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Net Sales: PCB $ 566,070 $ 510,486 RF&S Components 15,190 12,690 Other (1) — 3,256 Total net sales $ 581,260 $ 526,432 Operating Segment Income (Loss): PCB $ 56,540 $ 57,232 RF&S Components 5,750 3,862 Corporate and Other (1) (26,764 ) (30,389 ) Total operating segment income 35,526 30,705 Amortization of definite-lived intangibles (2) (9,658 ) (10,905 ) Total operating income 25,868 19,800 Total other expense (9,391 ) (24,099 ) Income (loss) before income taxes $ 16,477 $ (4,299 ) As of April 4, 2022 January 3, 2022 (In thousands) Segment Assets: PCB $ 1,634,299 $ 1,655,401 RF&S Components 213,139 216,737 Corporate and Other (1) 1,196,710 1,153,409 Total assets $ 3,044,148 $ 3,025,547 (1) Other represents results from the now closed SH E-MS and SZ facilities. (2) Amortization of definite-lived intangibles primarily relates to the PCB and RF&S Components reportable segments. For both the quarters ended April 4, 2022 and March 29, 2021, $1,384 of amortization expense is included in cost of goods sold.
Net Sales	The Company markets and sells its products in approximately 50 countries. Other than in the United States and China, the Company does not conduct business in any country in which its net sales in that country exceed 10% of the Company’s total net sales. Net sales are as follows: Quarter Ended April 4, 2022 March 29, 2021 (In thousands) Net Sales: United States $ 264,401 $ 268,467 China 77,205 81,709 Other 239,654 176,256 Total net sales $ 581,260 $ 526,432

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation - Additional Information (Detail) - ASU 2021-08	Apr. 04, 2022
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Apr. 4, 2022

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($) shares in Thousands	Feb. 03, 2021	May 11, 2022	Apr. 04, 2022	May 04, 2022
Equity Class Of Treasury Stock [Line Items]
Share repurchase program, authorized amount	$ 100,000,000
Share repurchase program, expiration date	Feb. 3, 2023
Common stock shares, repurchased			2,373
Common stock value, repurchased			$ 30,232,000
Stock repurchase program, remaining authorized repurchase amount			$ 5,184,000
Subsequent Event
Equity Class Of Treasury Stock [Line Items]
Common stock shares, repurchased		374
Common stock value, repurchased		$ 5,192,000
Stock repurchase program, remaining authorized repurchase amount				$ 0

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	Apr. 04, 2022
Leases [Abstract]
Operating and finance leases expire	various dates through 2049

Components of Lease Expense (De

Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Leases [Abstract]
Operating lease cost	$ 1,884	$ 2,208
Variable lease cost	246	234
Short-term lease cost	140	$ 54
Finance lease costs:
Amortization of right-of-use assets	344
Interest on lease liabilities	$ 98

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 1,861	$ 2,159
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$ 421	$ 284

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Assets:
Operating lease right-of-use assets	$ 19,503	$ 20,802
Finance leases	$ 14,415	$ 14,759
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Total lease assets	$ 33,918	$ 35,561
Current:
Operating leases	$ 6,423	$ 6,362
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance leases	$ 702	$ 698
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Long-term:
Operating lease liabilities	$ 13,917	$ 15,252
Finance leases	$ 14,139	$ 14,317
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Total lease liabilities	$ 35,181	$ 36,629
Operating leases	3 years 8 months 12 days	3 years 10 months 24 days
Finance leases	14 years 3 months 18 days	14 years 7 months 6 days
Operating leases	2.60%	2.56%
Finance leases	2.68%	2.68%

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Detail) $ in Thousands	Apr. 04, 2022USD ($)
Leases [Abstract]
Operating leases Less than one year	$ 5,195
Operating leases 1 - 2 years	6,196
Operating leases 2 - 3 years	5,014
Operating leases 3 - 4 years	2,639
Operating leases 4 - 5 years	1,474
Operating leases Thereafter	904
Total operating lease payments	21,422
Less imputed interest	(1,082)
Total operating lease	20,340
Finance leases Less than one year	817
Finance leases 1 - 2 years	1,110
Finance leases 2 - 3 years	1,135
Finance leases 3 - 4 years	1,146
Finance leases 4 - 5 years	1,175
Finance leases Thereafter	12,656
Total finance lease payments	18,039
Less imputed interest	(3,198)
Total finance lease	$ 14,841

Maturities of Lease Liabiliti_2

Maturities of Lease Liabilities (Parenthetical) (Detail)	Apr. 04, 2022USD ($)
Leases [Abstract]
Legally binding lease payments for leases signed but not yet commenced	$ 851,000

Revenues - Additional Informati

Revenues - Additional Information (Detail 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-05 $ in Thousands	Apr. 04, 2022USD ($)
Revenue From Contract With Customer [Line Items]
Transaction price allocated to remaining performance obligations	$ 11,877
Remaining performance obligation period	12 months

Revenues - Additional Informa_2

Revenues - Additional Information (Detail)	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Revenue From Contract With Customer [Line Items]
Remaining revenue performance obligation, percentage	48.00%
Transferred over Time
Revenue From Contract With Customer [Line Items]
Revenue from products and services transferred to customers, percentage	97.00%	98.00%
Transferred at Point in Time
Revenue From Contract With Customer [Line Items]
Revenue from products and services transferred to customers, percentage	3.00%	2.00%

Disaggregation of Revenue by Pr

Disaggregation of Revenue by Principal End Markets with the Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Disaggregation Of Revenue [Line Items]
Total Revenue	$ 581,260	$ 526,432
Aerospace and Defense
Disaggregation Of Revenue [Line Items]
Total Revenue	172,180	186,545
Automotive
Disaggregation Of Revenue [Line Items]
Total Revenue	115,236	95,434
Data Center Computing
Disaggregation Of Revenue [Line Items]
Total Revenue	91,784	72,191
Medical/Industrial/Instrumentation
Disaggregation Of Revenue [Line Items]
Total Revenue	121,900	91,876
Networking/Communications
Disaggregation Of Revenue [Line Items]
Total Revenue	77,400	77,592
Other
Disaggregation Of Revenue [Line Items]
Total Revenue	2,760	2,794
Printed Circuit Board
Disaggregation Of Revenue [Line Items]
Total Revenue	566,070	510,486
Printed Circuit Board | Aerospace and Defense
Disaggregation Of Revenue [Line Items]
Total Revenue	172,180	186,539
Printed Circuit Board | Automotive
Disaggregation Of Revenue [Line Items]
Total Revenue	115,236	91,792
Printed Circuit Board | Data Center Computing
Disaggregation Of Revenue [Line Items]
Total Revenue	91,784	71,759
Printed Circuit Board | Medical/Industrial/Instrumentation
Disaggregation Of Revenue [Line Items]
Total Revenue	120,362	90,770
Printed Circuit Board | Networking/Communications
Disaggregation Of Revenue [Line Items]
Total Revenue	63,643	66,938
Printed Circuit Board | Other
Disaggregation Of Revenue [Line Items]
Total Revenue	2,865	2,688
RF&S Components
Disaggregation Of Revenue [Line Items]
Total Revenue	15,190	12,690
RF&S Components | Aerospace and Defense
Disaggregation Of Revenue [Line Items]
Total Revenue		6
RF&S Components | Data Center Computing
Disaggregation Of Revenue [Line Items]
Total Revenue		432
RF&S Components | Medical/Industrial/Instrumentation
Disaggregation Of Revenue [Line Items]
Total Revenue	1,538	1,081
RF&S Components | Networking/Communications
Disaggregation Of Revenue [Line Items]
Total Revenue	13,757	10,653
RF&S Components | Other
Disaggregation Of Revenue [Line Items]
Total Revenue	$ (105)	518
Other
Disaggregation Of Revenue [Line Items]
Total Revenue		3,256
Other | Automotive
Disaggregation Of Revenue [Line Items]
Total Revenue		3,642
Other | Medical/Industrial/Instrumentation
Disaggregation Of Revenue [Line Items]
Total Revenue		25
Other | Networking/Communications
Disaggregation Of Revenue [Line Items]
Total Revenue		1
Other | Other
Disaggregation Of Revenue [Line Items]
Total Revenue		$ (412)

Schedule of Composition of Cert

Schedule of Composition of Certain Consolidated Condensed Financial Statement Captions (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Inventories:
Raw materials	$ 123,322	$ 114,653
Work-in-process	9,424	9,620
Finished goods	4,597	3,339
Inventories	137,343	127,612
Property, plant and equipment, net:
Land and land use rights	62,080	62,015
Buildings and improvements	434,308	429,344
Machinery and equipment	906,406	891,925
Furniture and fixtures and other	10,406	10,360
Construction-in-progress	23,277	25,554
Property, plant and equipment, gross	1,436,477	1,419,198
Less: Accumulated depreciation	(773,083)	(753,443)
Property, plant and equipment, net	663,394	665,755
Other current liabilities:
Sales return and allowances	12,463	12,853
Income taxes payable	10,531	7,162
Operating lease	6,423	6,362
Interest	1,948	8,741
Derivative liabilities	1,437	4,295
Finance leases	702	698
Other	57,617	52,918
Other current liabilities	91,121	93,029
Other long-term liabilities:
Deferred income taxes	26,344	28,361
Finance leases	14,139	14,317
Defined benefit pension plan liability	5,013	5,276
Other	22,130	20,958
Other long-term liabilities	$ 67,626	$ 68,912

Goodwill by Reportable Segment

Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Goodwill [Line Items]
Goodwill	$ 877,924
Accumulated impairment losses	(240,600)
Goodwill, net	637,324	$ 637,324
Printed Circuit Board
Goodwill [Line Items]
Goodwill	700,724
Accumulated impairment losses	(171,400)
Goodwill, net	529,324
RF&S Components
Goodwill [Line Items]
Goodwill	177,200
Accumulated impairment losses	(69,200)
Goodwill, net	$ 108,000

Definite-lived Intangibles (Det

Definite-lived Intangibles (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 04, 2022	Dec. 28, 2020	Jan. 03, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 413,721		$ 413,721
Accumulated Amortization	(183,461)		(173,803)
Net Carrying Amount	230,260		239,918
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	366,071		366,071
Accumulated Amortization	(162,736)		(154,461)
Net Carrying Amount	$ 203,335		211,610
Weighted Average Amortization Period	11 years 3 months 18 days	11 years 3 months 18 days
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 47,650		47,650
Accumulated Amortization	(20,725)		(19,342)
Net Carrying Amount	$ 26,925		$ 28,308
Weighted Average Amortization Period	9 years 6 months	9 years 6 months

Definite-lived Intangibles - Ad

Definite-lived Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization of definite-lived intangibles	$ 9,658	$ 10,905
Amortization of definite-lived intangibles included in cost of goods sold	$ 1,384	$ 1,384

Estimated Aggregate Amortizatio

Estimated Aggregate Amortization for Definite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Remaining 2022	$ 28,973
2023	36,699
2024	29,516
2025	25,397
2026	25,397
Thereafter	84,278
Net Carrying Amount	$ 230,260	$ 239,918

Long-term Debt (Detail)

Long-term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 04, 2022	Jan. 03, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 935,879	$ 935,879
Less: Long-term debt unamortized discount	(555)	(607)
Long-term debt unamortized debt issuance costs	(7,114)	(7,454)
Long-term debt, Carrying Amount	928,210	927,818
Long-term debt, less current maturities	928,210	927,818
Senior Notes Due March 2029
Debt Instrument [Line Items]
Long-term debt, gross	$ 500,000	$ 500,000
Debt instrument, interest rate	4.00%	4.00%
Term Loan Due September 2024
Debt Instrument [Line Items]
Long-term debt, gross	$ 405,879	$ 405,879
Less: Long-term debt unamortized discount	$ (555)	$ (607)
Interest rate at period end	2.93%	2.60%
Asia Asset Based Lending Revolving Loan Due June 2024
Debt Instrument [Line Items]
Revolving loan	$ 30,000	$ 30,000
Interest rate at period end	1.83%	1.50%

Long-term Debt and Letters of_3

Long-term Debt and Letters of Credit - Schedule of Remaining Unamortized Debt Discount and Debt Issuance Costs (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Debt Instrument [Line Items]
Debt Issuance Costs	$ 7,114	$ 7,454
Debt Discount	555	607
Senior Notes Due March 2029
Debt Instrument [Line Items]
Debt Issuance Costs	$ 5,280	$ 5,444
Effective Interest Rate	4.18%	4.18%
Term Loan Due September 2024
Debt Instrument [Line Items]
Debt Issuance Costs	$ 1,834	$ 2,010
Debt Discount	$ 555	$ 607
Effective Interest Rate	4.66%	4.66%

Long-term Debt and Letters of_4

Long-term Debt and Letters of Credit - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021	Jan. 03, 2022
Debt Instrument [Line Items]
Remaining unamortized debt issuance costs	$ 7,114		$ 7,454
Loss on extinguishment of debt		$ 15,217
Weighted Average
Debt Instrument [Line Items]
Unamortized debt discount and debt issuance costs, amortization period	5 years 1 month 6 days
U.S. Asset Based Lending Revolving Loan Due June 2024
Debt Instrument [Line Items]
Remaining unamortized debt issuance costs	$ 1,214		$ 1,355
Senior Notes Due 2025
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 15,217

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Apr. 04, 2022USD ($)
Income Tax Disclosure [Abstract]
Change in valuation allowance	$ 0
Effective tax rate impacted by net discrete tax expense (benefit)	2,047,000
Tax on undistributed earnings	$ 0

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail)	May 15, 2018USD ($)	Mar. 31, 2023t	Jan. 03, 2023t	Oct. 03, 2022t	Jun. 29, 2022t	Apr. 04, 2022USD ($)	Mar. 29, 2021USD ($)	Apr. 04, 2022EUR (€)	Jan. 03, 2022USD ($)
Derivative [Line Items]
Accumulated other comprehensive income (loss) will be reclassified into the statement of operations, net of tax, in the next quarter						$ (1,087,000)
Interest Rate Swap
Derivative [Line Items]
Interest rate derivatives, at fair value, net	$ 0
Derivative, ineffectiveness						0	$ 0
Interest Rate Swap | Other Current Liabilities
Derivative [Line Items]
Interest rate derivative liability, at fair value						1,385,000
Interest Rate Swap | Interest expense
Derivative [Line Items]
Derivative instrument, increased interest expense						2,706,000	$ 2,740,000
Foreign Exchange Contracts
Derivative [Line Items]
Derivative, notional amount						1,625,000		€ 1,400,000	$ 0
Commodity Contracts | Scenario Forecast
Derivative [Line Items]
Commodity contracts number of notional quantity | t		0.7	0.7	0.6	0.5
Commodity contracts with notional quantity beginning date		Jan. 1, 2023	Oct. 4, 2022	Jun. 30, 2022	Apr. 5, 2022
Commodity contracts with notional quantity ending date		Mar. 31, 2023	Jan. 3, 2023	Oct. 3, 2022	Jun. 29, 2022
Commodity Contracts | Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Commodity contracts, asset fair value						1,699,000			$ 297,000
Commodity Contracts | Cost of Goods Sold
Derivative [Line Items]
Change in fair value of commodity contracts						$ 1,402,000
1-Month LIBOR | Interest Rate Swap
Derivative [Line Items]
Derivative, maturity period	4 years
Derivative, notional amount	$ 400,000,000
Derivative, expiration date	Jun. 1, 2022
Derivative, fixed rate	2.84%

Summary of Fair Values of Deriv

Summary of Fair Values of Derivative Instruments in Consolidated Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Interest Rate Swap | Other Current Liabilities
Cash flow derivative instruments designated as hedges:
Cash flow derivative instruments designated as hedges, liability fair value	$ (1,385)	$ (4,295)
Foreign Exchange Contracts | Other Current Liabilities
Cash flow derivative instruments not designated as hedges:
Cash flow derivative instruments not designated as hedges, liability fair value	(52)
Commodity Contracts | Prepaid Expenses and Other Current Assets
Cash flow derivative instruments not designated as hedges:
Cash flow derivative instruments not designated as hedges, asset fair value	$ 1,699	$ 297

Summary of Accumulated Other Co

Summary of Accumulated Other Comprehensive Loss Related to Derivatives Designated as Cash Flow Hedges (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income	$ 153	$ (263)
Interest Rate Swap | Interest expense
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income	204	(351)
Loss Reclassified into Income	$ (2,706)	$ (2,740)

Summary of Activity of Designat

Summary of Activity of Designated Cash Flow Hedges in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Derivative [Line Items]
Beginning balance	$ 1,455,417	$ 1,444,009
Ending balance	1,447,829	1,442,467
Gains (Losses) on Cash Flow Hedges
Derivative [Line Items]
Beginning balance	(3,223)	(11,231)
Changes in fair value gain (loss), net of tax	153	(263)
Reclassification to earnings	2,034	2,052
Ending balance	$ (1,036)	$ (9,442)

Schedule of Accumulated Other C

Schedule of Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,455,417	$ 1,444,009
Other comprehensive (loss) income	2,151	1,786
Ending balance	1,447,829	1,442,467
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(23,899)
Other comprehensive (loss) income before reclassifications	(36)
Other comprehensive (loss) income	(36)
Ending balance	(23,935)
Pension Obligation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(133)
Ending balance	(133)
(Losses) Gains on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,223)	(11,231)
Other comprehensive (loss) income before reclassifications	153	(263)
Reclassification to earnings	2,034	2,052
Other comprehensive (loss) income	2,187
Ending balance	(1,036)	(9,442)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(27,255)	(38,913)
Other comprehensive (loss) income before reclassifications	117
Reclassification to earnings	2,034
Other comprehensive (loss) income	2,151	1,786
Ending balance	$ (25,104)	$ (37,127)

Significant Customers and Con_2

Significant Customers and Concentration of Credit Risk - Additional Information (Detail) - Net Sales - Customer	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Concentration Risk [Line Items]
Number of customers contributing to more than ten percent of revenue	1	1
PCB | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of net sales, accounted by one customer	10.00%	13.00%

Carrying Amount and Estimated F

Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities, current	$ 1,437	$ 4,295
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets, current	1,699	297
Derivative liabilities, current	1,437	4,295
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets, current	1,699	297
Derivative liabilities, current	1,437	4,295
Term Loan Due September 2024 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	403,490	403,262
Term Loan Due September 2024 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	404,357	406,135
ABL Revolving Loans | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	30,000	30,000
ABL Revolving Loans | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	30,000	30,000
Senior Notes Due March 2029 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	494,720	494,556
Senior Notes Due March 2029 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 465,035	$ 498,200

Fair Value Measures - Additiona

Fair Value Measures - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 519,079	$ 537,678
Domestic Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	332,757
Foreign Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 186,322

Reconciliation of Numerator and

Reconciliation of Numerator and Denominator Used to Calculate Basic Earnings (Loss) per Share and Diluted Earnings (Loss) per Share from Continuing Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ 17,246	$ (3,192)
Basic weighted average shares	102,613	106,825
Dilutive effect of performance-based restricted stock units, restricted stock units and stock options	1,685
Dilutive effect of outstanding warrants	6
Diluted shares	104,304	106,825
Earnings (loss) per share:
Basic	$ 0.17	$ (0.03)
Diluted	$ 0.17	$ (0.03)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Detail) shares in Thousands	3 Months Ended
	Apr. 04, 2022$ / sharesshares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share-based payment arrangement, option, exercise price range, lower range limit | $ / shares	$ 11.83
Share-based payment arrangement, option, exercise price range, upper range limit | $ / shares	$ 16.60
PRUs, RSUs and Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculating diluted earnings per share	975
Stock Options | Exercise Prices Ranging from $11.83 to $16.60 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculating diluted earnings per share	60
PRUs | Exercise Prices Ranging from $11.83 to $16.60 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculating diluted earnings per share	289
RSUs | Exercise Prices Ranging from $11.83 to $16.60 Per Share
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculating diluted earnings per share	2,897

Amounts Recognized in Consolida

Amounts Recognized in Consolidated Financial Statements of Operations with Respect to Stock Based Compensation Plan (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 4,234	$ 4,209
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	1,276	1,165
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	650	646
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	2,053	2,355
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 255	$ 43

Summary of Unrecognized Compens

Summary of Unrecognized Compensation Costs (Detail) $ in Thousands	3 Months Ended
	Apr. 04, 2022USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Cost	$ 21,711
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Cost	$ 20,594
Remaining Weighted Average Recognition Period (years)	1 year 4 months 24 days
Performance-Based Restricted Stock Units (PRUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Cost	$ 1,092
Remaining Weighted Average Recognition Period (years)	9 months 18 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Cost	$ 25
Remaining Weighted Average Recognition Period (years)	6 months

Reconciliation of Operating Inc

Reconciliation of Operating Income from Segments to Consolidated By Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Segment Reporting Information [Line Items]
Net sales	$ 581,260	$ 526,432
Operating income	25,868	19,800
Amortization of definite-lived intangibles	(9,658)	(10,905)
Total other expense	(9,391)	(24,099)
Income (loss) before income taxes	16,477	(4,299)
Printed Circuit Board
Segment Reporting Information [Line Items]
Net sales	566,070	510,486
RF&S Components
Segment Reporting Information [Line Items]
Net sales	15,190	12,690
Other
Segment Reporting Information [Line Items]
Net sales		3,256
Operating Segment
Segment Reporting Information [Line Items]
Operating income	35,526	30,705
Operating Segment | Printed Circuit Board
Segment Reporting Information [Line Items]
Net sales	566,070	510,486
Operating income	56,540	57,232
Operating Segment | RF&S Components
Segment Reporting Information [Line Items]
Net sales	15,190	12,690
Operating income	5,750	3,862
Operating Segment | Other
Segment Reporting Information [Line Items]
Net sales		3,256
Corporate and Other
Segment Reporting Information [Line Items]
Operating income	$ (26,764)	$ (30,389)

Reconciliation of Assets from S

Reconciliation of Assets from Segment to Consolidated (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Jan. 03, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 3,044,148	$ 3,025,547
Operating Segment | Printed Circuit Board
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,634,299	1,655,401
Operating Segment | RF&S Components
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	213,139	216,737
Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,196,710	$ 1,153,409

Reconciliation of Operating I_2

Reconciliation of Operating Income from Segments to Consolidated By Reportable Segments (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Segment Reporting Information [Line Items]
Amortization of definite-lived intangibles	$ 1,384	$ 1,384
Printed Circuit Board and RF&S Components
Segment Reporting Information [Line Items]
Amortization of definite-lived intangibles	$ 1,384	$ 1,384

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Apr. 04, 2022Country
Segment Reporting [Abstract]
Number of countries the parent company markets and sells its products	50
Percentage of total net sales, if exceed, the company does not conduct business	10.00%

Net Sales (Detail)

Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2022	Mar. 29, 2021
Segment Reporting Information [Line Items]
Net sales	$ 581,260	$ 526,432
United States
Segment Reporting Information [Line Items]
Net sales	264,401	268,467
China
Segment Reporting Information [Line Items]
Net sales	77,205	81,709
Other
Segment Reporting Information [Line Items]
Net sales	$ 239,654	$ 176,256

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Telephonics Corporation and ISC Farmingdale Corp. - Subsequent Event $ in Thousands	Apr. 18, 2022USD ($)
Subsequent Event [Line Items]
Business combination, agreement date	Apr. 18, 2022
Business combination, aggregate purchase price in cash	$ 330,000