Fox Factory Holding (FOXF) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 03, 2020	May 04, 2020	Jan. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 3, 2020
Document Transition Report	false
Entity File Number	001-36040
Entity Registrant Name	Fox Factory Holding Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1647258
Entity Address, Address Line One	6634 Hwy 53
Entity Address, City or Town	Braselton
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30517
City Area Code	831
Local Phone Number	274-6500
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	FOXF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Common stock, shares outstanding (in shares)	38,603		38,559
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001424929
Current Fiscal Year End Date	--01-01
Entity Common Stock, Shares Outstanding		38,602,757

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Current assets:
Cash and cash equivalents	$ 76,182	$ 43,736
Accounts receivable (net of allowances of $1,205 and $810 at April 3, 2020 and January 3, 2020, respectively)	85,652	91,632
Inventory	156,553	128,505
Prepaids and other current assets	75,799	17,940
Total current assets	394,186	281,813
Property, plant and equipment, net	127,633	108,379
Lease right-of-use assets	20,632	17,472
Deferred tax assets	15,161	25,725
Goodwill	285,723	93,527
Intangibles, net	219,906	81,949
Other assets	5,458	451
Total assets	1,068,699	609,316
Current liabilities:
Accounts payable	88,613	55,144
Accrued expenses	40,285	35,744
Reserve for uncertain tax positions	957	925
Current portion of long-term debt	8,818	0
Total current liabilities	138,673	91,813
Line of credit	85,000	68,000
Long-term debt, less current portion	385,404	0
Other liabilities	13,709	11,584
Total liabilities	622,786	171,397
Commitments and contingencies (Refer to Note 9 - Commitments and Contingencies)
Redeemable non-controlling interest	16,207	15,719
Stockholders’ equity
Preferred stock, $0.001 par value — 10,000 authorized and no shares issued or outstanding as of April 3, 2020 and January 3, 2020	0	0
Common stock, $0.001 par value — 90,000 authorized; 39,493 shares issued and 38,603 outstanding as of April 3, 2020; 39,448 shares issued and 38,559 outstanding as of January 3, 2020	39	39
Additional paid-in capital	123,470	123,274
Treasury stock, at cost; 890 common shares as of April 3, 2020 and January 3, 2020	(13,754)	(13,754)
Accumulated other comprehensive (loss) income	(790)	150
Retained earnings	320,741	312,491
Total stockholders’ equity	429,706	422,200
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 1,068,699	$ 609,316

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,205	$ 810
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	39,493	39,448
Common stock, shares outstanding (in shares)	38,603	38,559
Treasury stock, shares (in shares)	890	890

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Sales	$ 184,361	$ 161,700
Cost of sales	127,746	110,643
Gross profit	56,615	51,057
Operating expenses:
Sales and marketing	12,063	9,262
Research and development	8,029	7,303
General and administrative	22,413	11,180
Amortization of purchased intangibles	2,543	1,493
Total operating expenses	45,048	29,238
Income from operations	11,567	21,819
Other expense, net:
Interest expense	1,847	829
Other expense (income)	62	(13)
Other expense, net	1,909	816
Income before income taxes	9,658	21,003
Provision for income taxes	920	2,601
Net income	8,738	18,402
Less: net income attributable to non-controlling interest	488	299
Net income attributable to FOX stockholders	$ 8,250	$ 18,103
Earnings per share:
Basic (in dollars per share)	$ 0.21	$ 0.48
Diluted (in dollars per share)	$ 0.21	$ 0.46
Weighted average shares used to compute earnings per share:
Basic (in shares)	38,571	38,041
Diluted (in shares)	39,151	39,097

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 8,738	$ 18,402
Other comprehensive loss
Foreign currency translation adjustments, net of tax effects	(940)	(159)
Other comprehensive loss	(940)	(159)
Comprehensive income	7,798	18,243
Less: comprehensive income attributable to non-controlling interest	488	299
Comprehensive income attributable to FOX stockholders	$ 7,310	$ 17,944

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity and Redeemable Non-controlling Interest - USD ($) $ in Thousands	Total	Common Stock	Treasury	Additional paid-in capital	Accumulated other comprehensive (loss) income	Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard, net of taxes	$ (228)					$ (228)
Beginning Balance (in shares) at Dec. 28, 2018		38,881,000	890,000
Beginning Balance at Dec. 28, 2018	321,205	$ 38	$ (13,754)	$ 116,019	$ (784)	219,686
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding (in shares)		180,000
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	(1,229)			(1,229)
Stock-based compensation expense	1,729			1,729
Foreign currency translation adjustment	(159)				(159)
Net income	18,103					18,103
Ending Balance (in shares) at Mar. 29, 2019		39,061,000	890,000
Ending Balance at Mar. 29, 2019	339,421	$ 38	$ (13,754)	116,519	(943)	237,561
Beginning Balance at Dec. 28, 2018	14,282
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income	299
Ending Balance at Mar. 29, 2019	$ 14,581
Beginning Balance (in shares) at Jan. 03, 2020	38,559	39,448,000	890,000
Beginning Balance at Jan. 03, 2020	$ 422,200	$ 39	$ (13,754)	123,274	150	312,491
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding (in shares)		45,000
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	(2,047)			(2,047)
Stock-based compensation expense	1,921			1,921
Foreign currency translation adjustment	(940)				(940)
Net income	$ 8,250					8,250
Ending Balance (in shares) at Apr. 03, 2020	38,603	39,493,000	890,000
Ending Balance at Apr. 03, 2020	$ 429,706	$ 39	$ (13,754)	$ 123,470	$ (790)	$ 320,741
Beginning Balance at Jan. 03, 2020	15,719
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income	488
Ending Balance at Apr. 03, 2020	$ 16,207

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
OPERATING ACTIVITIES:
Net income	$ 8,738	$ 18,402
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	5,829	4,039
Stock-based compensation	1,921	1,729
Deferred taxes and uncertain tax positions	(8,649)	716
Amortization of loan fees	389	68
Changes in operating assets and liabilities, net of effects of acquisition of business:
Accounts receivable	14,391	(4,904)
Inventory	(22,479)	(17,030)
Income taxes	916	(878)
Prepaids and other assets	(61,695)	(7,293)
Accounts payable	30,345	20,660
Accrued expenses and other liabilities	(3,191)	(6,764)
Net cash (used in) provided by operating activities	(33,485)	8,745
INVESTING ACTIVITIES:
Purchases of property and equipment	(12,841)	(7,297)
Acquisition of businesses, net of cash acquired	(329,209)	0
Net cash used in investing activities	(342,050)	(7,297)
FINANCING ACTIVITIES:
Proceeds from line of credit	156,000	26,000
Payments on line of credit	(139,000)	(13,000)
Proceeds from issuance of debt, net of origination fees of $6,622	393,379	0
Repayment of debt	0	(2,813)
Repurchases from stock compensation program, net	(2,047)	(1,229)
Net cash provided by financing activities	408,332	8,958
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(351)	(76)
CHANGE IN CASH AND CASH EQUIVALENTS	32,446	10,330
CASH AND CASH EQUIVALENTS—Beginning of period	43,736	27,958
CASH AND CASH EQUIVALENTS—End of period	76,182	38,288
Cash paid during the period for:
Income taxes	9,280	6,243
Cash paid for interest, net of capitalized interest	729	702
Cash paid for amounts included in the measurement of lease liabilities	1,602	1,430
Non-cash operating activities:
Right-of-use assets obtained in exchange for lease obligations	4,336	2,543
Capital expenditures included in accounts payable	$ 2,088	$ 1,688

Description of the Business, Ba

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies - Fox Factory Holding Corp. (the "Company") designs, engineers, manufactures, and markets performance-defining products and systems for customers worldwide. Our premium brand, performance-defining products and systems are used primarily for bicycles ("bikes"), side-by-side vehicles ("Side-by-Sides"), on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles ("ATVs"), snowmobiles, specialty vehicles and applications, motorcycles and commercial trucks. Some of our products are specifically designed and marketed to the leading cycling and powered vehicle original equipment manufacturers ("OEMs"), while others are distributed to consumers through a global network of dealers and distributors. Throughout this Form 10-Q, unless stated otherwise or as the context otherwise requires, the "Company," "FOX," "Fox Factory," "we," "us," "our," and "ours" refer to Fox Factory Holding Corp. and its operating subsidiaries on a consolidated basis. Basis of Presentation - The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America ("U.S." or "United States") and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended January 3, 2020 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 3, 2020. In management’s opinion, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, that are necessary for a fair presentation of financial results for the interim periods presented. Operating results for any quarter are not necessarily indicative of the results for the full fiscal year. The Company operates on a 52-53 week fiscal calendar. For 2020 and 2019, the Company's fiscal year will end or has ended on January 1, 2021 and January 3, 2020, respectively. The twelve month periods ended January 1, 2021 and January 3, 2020, will include or have included 52 and 53 weeks, respectively. The three month periods ended April 3, 2020 and March 29, 2019 each included 13 weeks. Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Summary of Significant Accounting Policies - There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended January 3, 2020, as filed with the SEC on March 3, 2020 that have had a material impact on our condensed consolidated financial statements and related notes. Revenue Recognition - Revenues are generated from the sale of performance-defining products and systems to customers worldwide. The Company’s performance-defining products and systems are solutions that improve performance of powered vehicles and bikes. Powered vehicles include Side-by-Sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, and motorcycles. Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer, generally at the time of shipment. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, the Company may also enter into master agreements. Provisions for discounts, rebates, sales incentives, returns, and other adjustments are generally provided for in the period the related sales are recorded, based on management’s assessment of historical trends and projection of future results. Certain pricing provisions that provide the customer with future discounts are considered a material right. Such material rights result in the deferral of revenue that are recognized when the rights are exercised by the customer. Measuring the material rights requires judgments including forecasts of future sales and product mix. At April 3, 2020, the balance of deferred revenue related to pricing provisions was $191. These amounts are expected to be recognized over the next 12 months. Revenues exclude sales tax. Segments - The Company has determined that it has a single operating and reportable segment. The Company considers operating segments to be components of the Company for which separate financial information is available, that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Use of Estimates - The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from management’s estimates. Certain Significant Risks and Uncertainties - The Company is subject to those risks common in manufacturing-driven markets, including, but not limited to, competitive forces, dependence on key personnel, customer demand for its products, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. Additionally, the Company has been impacted by the recent coronavirus (“COVID-19”) outbreak. The global outbreak of COVID-19 has negatively affected the U.S. and global economy, disrupted global supply chains, resulted in significant travel and transport restrictions, including mandated closures and orders to “shelter-in-place,” and created significant disruption of the financial markets. The Company’s manufacturing facilities in North America have been affected by local and state “shelter-in-place” orders including the temporary suspension of non-essential operations in certain facilities. The Company is taking actions to manage costs during this time by enacting executive pay cuts and temporary furloughs, curtailing non-essential capital expenditures, and reducing expenses. Despite the Company’s efforts to manage and remedy these impacts to the Company, the ultimate impact and the extent to which the COVID-19 pandemic will continue to affect the business, results of operation and financial condition is difficult to predict and depends on numerous evolving factors outside of the Company’s control including: the duration and scope of the pandemic; government, social, business and other actions that have been and will be taken in response to the pandemic; and the effect of the pandemic on short and long-term general economic conditions. Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board ("FASB") has issued Accounting Standards Codification 820, Fair Value Measurements and Disclosures, that requires the valuation of assets and liabilities required or permitted to be either recorded or disclosed at fair value based on hierarchy of available inputs as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The carrying amounts of the Company's financial instruments, including cash, receivables, accounts payable, and accrued liabilities approximate their fair values due to their short-term nature. Amounts owed under the Company's Credit Facility (as defined in Note 8 - Debt below) approximate fair value due to the variable interest rate features embedded in both the line of credit and the term debt. Recent Accounting Pronouncements - In February 2016, the FASB issued ASU 2016-02, Leases, which supersedes the existing guidance for lease accounting. To meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases, this ASU requires lessees to recognize most leases on the balance sheet as right-of-use assets and lease liabilities. The Company adopted this guidance as of the beginning of the first quarter of fiscal year 2019, with a cumulative effect adjustment to the opening balance of retained earnings at December 28, 2018 with no restatement of comparative periods’ financial information ("current-period adjustment method"). Additionally, the Company adopted this guidance using practical expedients with respect to the assessment of embedded leases, lease classification, and initial indirect costs for expired and existing leases. The Company also elected the practical expedient related to treating lease and non-lease components as a single lease component for all of its leases and elected a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the right-of-use assets and lease liabilities. The Company did not use the hindsight practical expedient to adopt this guidance. The Company recorded a cumulative effect adjustment of $13,637 to operating lease right-of-use assets, $13,937 to operating lease liabilities, and $300 gross ($228 net of taxes) to the opening balance of the Company's retained earnings to reflect the cumulative effect of the adoption of the standard. This standard did not have a material impact on our consolidated income statements. In June 2016, the FASB issue ASU 2016-13, Financial Instruments: Credit Losses, which adds an impairment model that is based on expected losses rather than incurred losses. Under this standard, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The Company adopted ASU 2016-13 effective in the first quarter of fiscal year 2020 using the aging method, which calculates the allowance based on how long a receivable has been outstanding, taking into account the historical credit loss rate and adjusting for both current conditions and forecasts of economic conditions into that expected credit loss rate. The adoption of ASU 2016-13 did not have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which clarifies the presentation of certain transactions, including but not limited to contingent consideration payments made after a business combination and debt prepayment and extinguishment costs in the cash flow statement. The Company adopted ASU 2016-16 effective in the first quarter of fiscal year 2019. The adoption of ASU 2016-15 did not have a material impact on the Company's consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Apr. 03, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table summarizes total sales by product category: For the three months ended April 3, 2020 March 29, 2019 Powered Vehicles $ 120,526 $ 96,708 Specialty Sports 63,835 64,992 Total sales $ 184,361 $ 161,700 The following table summarizes total sales by sales channel: For the three months ended April 3, 2020 March 29, 2019 OEM $ 103,748 $ 100,505 Aftermarket 80,613 61,195 Total sales $ 184,361 $ 161,700 The following table summarizes total sales generated by geographic location of the customer: For the three months ended April 3, 2020 March 29, 2019 North America $ 130,622 $ 109,632 Asia 22,878 23,386 Europe 28,959 27,536 Rest of the world 1,902 1,146 Total sales $ 184,361 $ 161,700

Inventory

Inventory	3 Months Ended
	Apr. 03, 2020
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following: April 3, January 3 2020 2020 Raw materials $ 103,509 $ 87,779 Work-in-process 12,439 7,075 Finished goods 40,605 33,651 Total inventory $ 156,553 $ 128,505

Prepaids and Other Assets

Prepaids and Other Assets	3 Months Ended
	Apr. 03, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaids and Other Current Assets	Prepaids and Other Current Assets Prepaids and other current assets consisted of the following: April 3, January 3 2020 2020 Prepaid chassis deposits $ 52,445 $ 6,701 Advanced payments and prepaid contracts 9,686 5,774 Current portion of acquisition-related compensation held in escrow 4,642 — Other current assets 9,026 5,465 Total $ 75,799 $ 17,940

Property, Plant and Equipment,

Property, Plant and Equipment, net	3 Months Ended
	Apr. 03, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consisted of the following: April 3, January 3 2020 2020 Building and building improvements $ 50,779 $ 42,343 Information systems, office equipment and furniture 12,007 10,102 Internal-use computer software 17,708 16,860 Land 6,072 5,414 Leasehold improvements 12,457 13,841 Machinery and manufacturing equipment 68,839 57,331 Transportation equipment 5,422 5,006 Total 173,284 150,897 Less: accumulated depreciation and amortization (45,651) (42,518) Property, plant and equipment, net $ 127,633 $ 108,379 The Company’s long-lived assets by geographic location are as follows: April 3, January 3 2020 2020 United States $ 118,028 $ 100,508 International 9,605 7,871 Total long-lived assets $ 127,633 $ 108,379

Leases

Leases	3 Months Ended
	Apr. 03, 2020
Leases [Abstract]
Leases	Leases The Company has operating lease agreements for administrative, research and development, manufacturing, and sales and marketing facilities. These leases have remaining lease terms ranging from 1 to 8 years, some of which include options to extend the lease term for up to 5 years, and some of which include options to terminate the leases within 1 year. Certain leases are subject to annual escalations as specified in the lease agreements. The Company considered these options in determining the lease term used to establish its right-of-use assets and lease liabilities. These lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide an interest rate, the Company used the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The weighted-average remaining lease term for the Company's operating leases was 4.53 years and the weighted-average incremental borrowing rate was 3.54% as of April 3, 2020. Operating lease costs consisted of the following: For the three months ended April 3, 2020 March 29, 2019 Operating lease cost $ 1,576 $ 1,420 Other lease costs (1) 274 183 Total $ 1,850 $ 1,603 (1) Includes short-term leases and variable lease costs. The Company elected a policy permitting leases with an original lease term of less than one year to be excluded from the right-of-use assets and lease liabilities. Supplemental balance sheet information related to the Company's operating leases is as follows: Balance Sheet Classification April 3, 2020 Operating lease right-of-use assets Lease right-of-use assets $ 20,632 Current lease liabilities Accrued expenses $ 6,825 Non-current lease liabilities Other liabilities $ 13,709 Maturities of lease liabilities by fiscal year for the Company's operating leases are as follows: For fiscal year Total future payments 2020 (excluding the 3 months ended April 3, 2020) $ 5,276 2021 5,387 2022 3,766 2023 3,376 2024 1,722 Thereafter 2,722 Total lease payments 22,249 Less: imputed interest (1,715) Present value of lease liabilities 20,534 Less: current portion (6,825) Lease liabilities less current portion $ 13,709

Accrued Expenses

Accrued Expenses	3 Months Ended
	Apr. 03, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following: April 3, January 3 2020 2020 Payroll and related expenses $ 8,932 $ 14,595 Current portion of lease liabilities 6,825 6,242 Warranty 8,719 5,649 Income tax payable 6,976 4,295 Other accrued expenses 8,833 4,963 Total $ 40,285 $ 35,744 Activity related to warranties is as follows: For the three months ended April 3, 2020 March 29, 2019 Beginning warranty liability $ 5,649 $ 6,433 Charge to cost of sales 1,054 575 Fair value of warranty assumed in acquisition 3,158 — Costs incurred (1,142) (1,268) Ending warranty liability $ 8,719 $ 5,740

Debt

Debt	3 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
Debt	Debt Former Second Amended and Restated Credit Facility In August 2013, the Company entered into a credit facility with SunTrust Bank, N.A. and other named lenders, which was periodically amended and restated (the "Second Amended and Restated Credit Facility"). The Company paid off the Second Amended and Restated Credit Facility in June 2019 upon entering into the new Credit Facility with Bank of America, N.A. ("Bank of America"). Amended and Restated Credit Facility In June 2019, the Company entered into a credit facility with Bank of America and other named lenders, which was later amended and restated on March 11, 2020 (the "Credit Facility"). The Credit Facility, which matures on March 11, 2025, provides a senior secured revolving line of credit with a borrowing capacity of $250,000 and a maturing secured term loan of $400,000. The term loan is subject to quarterly amortization payments. The Company paid $6,622 in debt issuance costs, of which $5,858 were allocated to the term debt and $764 were allocated to the line of credit. Additionally, the Company had $434 of remaining unamortized debt issuance costs. The Company expensed $277 of the remaining unamortized debt issuance costs, which are included in other expense, net on the Condensed Consolidated Statements of Income for the three months ended April 3, 2020 and the remaining $157 were allocated to the line of credit. Loan fees allocated to the term debt will be amortized using the interest method and loan fees allocated to the line of credit will be amortized on a straight-line basis over the term of the Credit Facility. The Credit Facility provides for interest at a rate either based on the London Interbank Offered Rate, or LIBOR, plus a margin ranging from 1.00% to 1.75%, or based on the base rate offered by Bank of America plus a margin ranging from 0.00% to 0.75%. At April 3, 2020, the one-month LIBOR and prime rates were 0.99% and 3.25%, respectively. At April 3, 2020, our weighted average interest rate on outstanding borrowing was 2.33%. The Credit Facility is secured by substantially all of the Company’s assets, restricts the Company's ability to make certain payments and engage in certain transactions, and requires that the Company satisfy customary financial ratios. The Company was in compliance with the covenants as of April 3, 2020. The Credit Facility permits up to $25,000 of the aggregate revolving commitment to be used by the Company for issuance of letters of credit, of which $15,000 was outstanding at April 3, 2020. The following table summarizes the line of credit under the Credit Facility: April 3, 2020 Amount outstanding $ 85,000 Standby letters of credit 15,000 Available borrowing capacity 150,000 Total borrowing capacity $ 250,000 Maturity date March 11, 2025

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 03, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Indemnification Agreements - In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by the Company or intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise due to their status or service as directors, officers or employees. While the outcome of these matters cannot be predicted with certainty, the Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on the Company’s results of operations, financial position or liquidity. Legal Proceedings - A lawsuit was filed on December 17, 2015 by SRAM Corporation (“SRAM”) in the U.S. District Court, Northern District of Illinois, against the Company’s wholly-owned subsidiary, RFE Canada Holding Corp. (“RFE Canada”). The lawsuit alleges patent infringement of U.S. Patent number 9,182,027 ("027 Patent") and violation of the Lanham Act. SRAM filed a second lawsuit in the same court against RFE Canada on May 16, 2016, alleging patent infringement of U.S Patent number 9,291,250 ("'250 Patent"). The Company believes that the lawsuits are without merit and intends vigorously to defend itself. As such, the Company has filed, before the U. S. Patent and Trademark Appeals Board ("PTAB"), for Interparties Reviews ("IPR") of the '027 Patent and separately the same for the '250 Patent. In April 2018, the PTAB issued opinions in the ‘027 Patent petition cases stating that the Company has not shown the claims of the ‘027 Patent to be obvious. Regarding the PTAB ‘027 opinions, the Company has filed an Appeal to the Court of Appeals for the Federal Circuit ("CAFC"). The CAFC found in favor of the Company and has vacated and remanded all of the PTAB findings with the exception of their finding that the ‘027 patent met the prima facia test for obviousness, which was affirmed. SRAM has appealed to the CAFC to rehear the case en banc. The CAFC has declined to rehear the case and has issued the final remand order sending the case back to the PTAB. The PTAB has issued an opinion in the ‘250 Patent petition case stating that the Company has not shown the claims of the ‘250 Patent to be obvious. The Company has appealed that PTAB opinion to the CAFC and the CAFC ruling is pending. In a separate action, the Company filed a lawsuit on January 29, 2016 in the U.S. District Court, Northern District of California against SRAM. That lawsuit alleges SRAM’s infringement of two separate Company owned patents, specifically U.S. Patent numbers 6,135,434 and 6,557,674. The Company filed a second lawsuit on July 1, 2016 in the U.S. District Court, Northern District of California against SRAM alleging infringement of the Company’s U.S. Patent numbers 8,226,172 and 8,974,009. These lawsuits have been moved to U.S. District Court, District of Colorado and are otherwise proceeding. The U.S. District Court, Northern District of Illinois, has again stayed the SRAM lawsuits against the Company pending outcome of the remanded ‘027 PTAB issue. Due to the inherent uncertainties of litigation, the Company is not able to predict either the outcome or a range of reasonably possible losses, if any, at this time. Accordingly, no amounts have been recorded in the consolidated financial statements for the settlement of these matters. Were an unfavorable ruling to occur, or if factors indicate that a loss is probable and reasonably estimable, the Company's business, financial condition or results of operations could be materially and adversely affected. The Company is involved in other legal matters that arise in the ordinary course of business. Based on information currently available, management does not believe that the ultimate resolution of these matters will have a material adverse effect on the Company's financial condition, results of operations or cash flows. Other Commitments - On November 30, 2017, the Company through FF US Holding Corp. acquired an 80% interest in the business of Flagship, Inc. ("Tuscany"). The stockholders' agreement provides the Company with a call option (the "Call Option") to acquire the remaining 20% of Tuscany any time from November 30, 2019 through November 30, 2024 at a value that approximates fair market value. In addition, if the Call Option has not been exercised as of November 30, 2024, the non-controlling owners shall be entitled to exercise a put option on November 30, 2024 and for a 180-day period thereafter, which would require the Company to purchase all of the remaining shares held by the non-controlling owners at a price that approximates fair market value. On July 24, 2019 the Company entered into a standard form of agreement between with design-builder Carroll Daniel Construction Company to provide design and construction services related to an approximately 336,000 square foot facility located in Gainesville, Georgia. The Company plans to use the facility for the manufacture of its products including vehicle shock absorbers. This agreement was amended on December 23, 2019. The agreement contains several design and construction milestone dates that began in June 2019. The Company expects to pay a total of approximately $36,500 under the terms of this agreement. Any additional costs will be addressed as they arise until the completion of the facility, which is currently expected to occur on or around August 31, 2020.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	3 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The following table presents the Company's hierarchy for its assets, liabilities and redeemable non-controlling interest measured at fair value on a recurring basis as of the following periods: April 3, 2020 January 3, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities: Credit Facility $ — $ 479,222 $ — $ 479,222 $ — $ 68,000 $ — $ 68,000 Non-controlling interest subject to put provisions — — 16,207 16,207 — — 15,719 15,719 Total liabilities measured at fair value $ — $ 479,222 $ 16,207 $ 495,429 $ — $ 68,000 $ 15,719 $ 83,719 There were no transfers of assets or liabilities between Level 1, Level 2, and Level 3 categories of the fair value hierarchy during the three month period ended April 3, 2020. The Company used Level 2 inputs to determine the fair value of its Credit Facility. As of April 3, 2020, the carrying amount of the principal under the Company’s Credit Facility approximated fair value because it had a variable interest rate that reflected market changes in interest rates and changes in the Company’s net leverage ratio. The Company has potential obligations to purchase the non-controlling interests held by third parties in the Tuscany subsidiary. These obligations are in the form of put provisions and are exercisable at the third-party owners' discretion within the specified periods outlined in the put provision within the Tuscany stockholders' agreement. If these put provisions were exercised, the Company would be required to purchase the third-party owners' non-controlling interests at the appraised fair value. The initial non-controlling interest value was implicit in the purchase price and is revalued each quarter, with the adjustment being recorded directly as a component of retained earnings. The methodology the Company uses to estimate the fair value of the non-controlling interests subject to these put provisions is based on an average multiple of earnings before income taxes, depreciation and amortization ("EBITDA"), taking into consideration historical earnings and other factors. The estimated fair value is then compared to the carrying value based on the initial valuation and the cumulative net earnings attributable to the non-controlling interest. At April 3, 2020, the estimated fair value was lower than the carrying value and, in accordance with applicable guidance, the non-controlling interest has been adjusted to the carrying value. The estimated fair values of the non-controlling interests subject to put provisions can fluctuate and the implicit multiple of earnings at which these non-controlling interest obligations may ultimately be settled could vary significantly from our future estimates depending upon market conditions. The following table provides a reconciliation of the beginning and ending balances for the Company's redeemable non-controlling interest measured at fair value using Level 3 inputs: Redeemable Non-Controlling Interest (level 3 measurement) Balance at January 3, 2020 $ 15,719 Net income attributable to non-controlling interest 488 Balance at April 3, 2020 $ 16,207

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plans The following table summarizes the allocation of stock-based compensation in the accompanying consolidated statements of income: For the three months ended April 3, 2020 March 29, 2019 Cost of sales $ 129 $ 129 Sales and marketing 152 126 Research and development 201 165 General and administrative 1,439 1,309 Total $ 1,921 $ 1,729 The following table summarizes the activity for the Company's unvested restricted stock units ("RSU") for the three months ended April 3, 2020: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at January 3, 2020 427 $ 44.98 Granted 43 $ 54.94 Canceled (3) $ 42.29 Vested (81) $ 31.15 Unvested at April 3, 2020 386 $ 49.01 As of April 3, 2020, the Company had approximately $14,299 of unrecognized stock-based compensation expense related to RSUs, which will be recognized over the remaining weighted-average vesting period of approximately 2.62 years. During the three months ended April 3, 2020, no shares of common stock were issued due to the exercise of stock options and no options to purchase common stock expired or were forfeited. As of April 3, 2020, stock-based compensation expense related to stock options has been fully recognized.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended April 3, 2020 March 29, 2019 Provision for income taxes $ 920 $ 2,601 Effective tax rates 9.5 % 12.4 % For the three months ended April 3, 2020, the difference between the Company's effective tax rate of 9.5% and the 21% federal statutory rate resulted primarily from a lower tax rate on foreign derived intangible income, research and development credits, and a reduction of Switzerland withholding tax. These benefits were partially offset by state taxes, global low-tax intangible income tax and nondeductible expenses. There was a $40 excess benefit related to stock-based compensation. For the three months ended March 29, 2019, the difference between the Company's effective tax rate of 12.4% and the 21% federal statutory rate resulted primarily from lower foreign tax rates, lower effective federal rates on foreign derived intangible income, research and development credits, and $1,825 from excess benefits related to the exercise of stock options. These benefits were partially offset by state taxes, foreign withholding taxes and the impact of nondeductible expenses. We do not expect the results from any ongoing income tax audit to have a material impact on our consolidated financial condition, results of operations, or cash flows.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Apr. 03, 2020
Related Party Transactions [Abstract]
Related Party Agreements	Related Party Transactions On May 3, 2019, the Company acquired substantially all of the assets of Air Ride Technologies, Inc., d/b/a Ridetech, which has a building lease for its manufacturing and offices in Jasper, Indiana. The building is owned by a former owner of Ridetech, who is now an employee of the Company. The lease is effective through April 1, 2024, with monthly rent payments of $16. Rent expense under this lease was $48 for the three months ended April 3, 2020. On March 11, 2020, the Company acquired 100% of the issued and outstanding stock of SCA Performance Holdings, Inc. ("SCA"), which has a building lease for its manufacturing and offices in Trussville, Alabama. The building is owned by a former owner of SCA, who is now an employee of the Company. The lease is effective through April 13, 2028, with monthly rent payments of $28. Rent expense under this lease was $28 for the three months ended April 3, 2020. Refer to Note 14 - Acquisitions for further details of this acquisition.

Acquisitions

Acquisitions	3 Months Ended
	Apr. 03, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions On March 11, 2020, the Company, through Fox Factory, Inc., acquired 100% of the issued and outstanding stock of SCA Performance Holdings, Inc. ("SCA") from Southern Rocky Holdings, LLC for $329,531, net of cash acquired and exclusive of vehicle inventory. SCA is a leading OEM authorized specialty vehicle manufacturer for light duty trucks and SUVs with headquarters in Trussville, Alabama. SCA operates under three aftermarket brands: SCA Performance, Rocky Ridge Trucks, and Rocky Mountain Truckworks. The Company believes the acquisition will be complementary to FOX’s Tuscany business, expanding its North American geographic manufacturing footprint and broadening its product offering in a growing segment of the automotive industry. This transaction was accounted for as a business combination. The Company also agreed to an additional $10,589 of contingent retention incentives for key SCA management, of which $9,283 is cash and $1,306 is stock, to be held in escrow and payable over the next two years. The Company recognized $143 in costs associated with such retention incentives during the three months ended April 3, 2020. Additionally, the Company agreed to pay $1,750 in transaction compensation to key SCA management concurrently with the closing. The purchase price of SCA has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated respective fair values as of March 11, 2020 with the excess purchase price allocated to goodwill. The Company’s allocation of the purchase price to the net tangible and intangible assets acquired and liabilities assumed is as follows: Acquisition consideration Cash consideration $ 329,209 Non-cash consideration 322 Total consideration at closing $ 329,531 Fair market values Other current assets $ 15,556 Property, plant and equipment 9,953 Lease right-of-use assets 4,027 Customer relationships 129,000 Trademarks and brand 11,500 Goodwill 192,215 Total assets acquired $ 362,251 Accounts payable and accrued expenses $ 9,454 Lease liabilities 4,027 Deferred taxes 19,239 Total liabilities assumed 32,720 Purchase price allocation $ 329,531 The Company incurred $10,579 of acquisition costs in conjunction with the SCA acquisition, including $1,750 of transaction compensation during the three months ended April 3, 2020 and $602 of transaction costs during the three months ended January 3, 2020. These costs are classified as general and administrative expenses in the accompanying condensed consolidated statements of income. Additional debt issuance costs of $6,622 were incurred in association with financing the transaction and will be amortized over the term of the Credit Facility. Refer to Note 8 - Debt for further details. The primary areas of the preliminary purchase price allocations that have not been finalized relate to the finalization of working capital and the valuation of real estate, intangible assets and related deferred tax liabilities. Upon completion of the fair value assessment, the Company anticipates that the ultimate intangible assets may differ from the preliminary assessment outlined above. Any change in the finalization of working capital will reduce or increase the cash consideration. Any changes to the preliminary estimates of the fair value of the real estate and intangible assets will be adjusted to goodwill during the measurement period, with subsequent changes in estimates recorded in the statement of operations. The preliminarily values assigned to the identifiable intangible assets were determined by discounting the estimated future cash flows associated with these assets to their present value. The goodwill of $192,215 reflects the strategic fit of SCA with the Company’s operations. The Company will amortize the acquired customer relationships assets over their expected useful lives of 5-10 years. Trademarks, brand names and goodwill are expected to have an indefinite life, and will be subject to impairment testing. The goodwill is not deductible for income tax purposes. SCA previously purchased intangibles and goodwill in asset acquisitions with a remaining net tax basis approximating $77,989 which the Company may deduct for income tax purposes. The following unaudited pro forma financial information shows the combined results of operations of the Company and SCA, as if the acquisition had occurred as of the beginning of the periods presented. The pro forma results include the effects of the amortization of purchased intangible assets and acquired inventory valuation step-up, interest expense on the term debt secured to finance the acquisition, and the net tax benefit of the above adjustments calculated at the statutory federal tax rate of 21%. SCA was operated as a C Corporation for federal taxation purposes. A pro forma adjustment has been made to reflect the income taxes that would have been recorded at the federal statutory rate based on SCA’s net income. The pro forma results for the three months ended April 3, 2020 exclude transaction costs associated with the acquisition and the results for the three months ended March 29, 2019 have been adjusted to include these charges. This pro forma data is presented for informational purposes only and does not purport to be indicative of the results of future operations or of the results that would have occurred had the acquisition taken place in the periods noted below. For the three months ended April 3, 2020 March 29, 2019 Pro forma sales $ 203,709 $ 177,258 Pro forma net income attributable to FOX stockholders $ 15,570 $ 8,810 Pro forma basic earnings per share $ 0.40 $ 0.23 Pro forma diluted earnings per share $ 0.40 $ 0.23 Total SCA revenues included in the condensed consolidated statements of income $ 6,548 Total SCA pre-tax income included in the condensed consolidated statements of income $ 68

Description of the Business, _2

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 03, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America ("U.S." or "United States") and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended January 3, 2020 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on March 3, 2020. In management’s opinion, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, that are necessary for a fair presentation of financial results for the interim periods presented. Operating results for any quarter are not necessarily indicative of the results for the full fiscal year.
Fiscal Year	The Company operates on a 52-53 week fiscal calendar. For 2020 and 2019, the Company's fiscal year will end or has ended on January 1, 2021 and January 3, 2020, respectively. The twelve month periods ended January 1, 2021 and January 3, 2020, will include or have included 52 and 53 weeks, respectively. The three month periods ended April 3, 2020 and March 29, 2019 each included 13 weeks
Principles of Consolidation	Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition - Revenues are generated from the sale of performance-defining products and systems to customers worldwide. The Company’s performance-defining products and systems are solutions that improve performance of powered vehicles and bikes. Powered vehicles include Side-by-Sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, and motorcycles. Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer, generally at the time of shipment. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, the Company may also enter into master agreements.
Segments	Segments - The Company has determined that it has a single operating and reportable segment. The Company considers operating segments to be components of the Company for which separate financial information is available, that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance.
Use of Estimates	Use of Estimates - The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from management’s estimates.
Certain Significant Risks and Uncertainties	Certain Significant Risks and Uncertainties - The Company is subject to those risks common in manufacturing-driven markets, including, but not limited to, competitive forces, dependence on key personnel, customer demand for its products, the successful protection of its proprietary technologies, compliance with government regulations, and the possibility of not being able to obtain additional financing when needed. Additionally, the Company has been impacted by the recent coronavirus (“COVID-19”) outbreak. The global outbreak of COVID-19 has negatively affected the U.S. and global economy, disrupted global supply chains, resulted in significant travel and transport restrictions, including mandated closures and orders to “shelter-in-place,” and created significant disruption of the financial markets. The Company’s manufacturing facilities in North America have been affected by local and state “shelter-in-place” orders including the temporary suspension of non-essential operations in certain facilities. The Company is taking actions to manage costs during this time by enacting executive pay cuts and temporary furloughs, curtailing non-essential capital expenditures, and reducing expenses. Despite the Company’s efforts to manage and remedy these impacts to the Company, the ultimate impact and the extent to which the COVID-19 pandemic will continue to affect the business, results of operation and financial condition is difficult to predict and depends on numerous evolving factors outside of the Company’s control including: the duration and scope of the pandemic; government, social, business and other actions that have been and will be taken in response to the pandemic; and the effect of the pandemic on short and long-term general economic conditions.
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board ("FASB") has issued Accounting Standards Codification 820, Fair Value Measurements and Disclosures, that requires the valuation of assets and liabilities required or permitted to be either recorded or disclosed at fair value based on hierarchy of available inputs as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
Recent Accounting Pronouncements	Recent Accounting Pronouncements - In February 2016, the FASB issued ASU 2016-02, Leases, which supersedes the existing guidance for lease accounting. To meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases, this ASU requires lessees to recognize most leases on the balance sheet as right-of-use assets and lease liabilities. The Company adopted this guidance as of the beginning of the first quarter of fiscal year 2019, with a cumulative effect adjustment to the opening balance of retained earnings at December 28, 2018 with no restatement of comparative periods’ financial information ("current-period adjustment method"). Additionally, the Company adopted this guidance using practical expedients with respect to the assessment of embedded leases, lease classification, and initial indirect costs for expired and existing leases. The Company also elected the practical expedient related to treating lease and non-lease components as a single lease component for all of its leases and elected a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the right-of-use assets and lease liabilities. The Company did not use the hindsight practical expedient to adopt this guidance. The Company recorded a cumulative effect adjustment of $13,637 to operating lease right-of-use assets, $13,937 to operating lease liabilities, and $300 gross ($228 net of taxes) to the opening balance of the Company's retained earnings to reflect the cumulative effect of the adoption of the standard. This standard did not have a material impact on our consolidated income statements. In June 2016, the FASB issue ASU 2016-13, Financial Instruments: Credit Losses, which adds an impairment model that is based on expected losses rather than incurred losses. Under this standard, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The Company adopted ASU 2016-13 effective in the first quarter of fiscal year 2020 using the aging method, which calculates the allowance based on how long a receivable has been outstanding, taking into account the historical credit loss rate and adjusting for both current conditions and forecasts of economic conditions into that expected credit loss rate. The adoption of ASU 2016-13 did not have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which clarifies the presentation of certain transactions, including but not limited to contingent consideration payments made after a business combination and debt prepayment and extinguishment costs in the cash flow statement. The Company adopted ASU 2016-16 effective in the first quarter of fiscal year 2019. The adoption of ASU 2016-15 did not have a material impact on the Company's consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Apr. 03, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenues	The following table summarizes total sales by product category: For the three months ended April 3, 2020 March 29, 2019 Powered Vehicles $ 120,526 $ 96,708 Specialty Sports 63,835 64,992 Total sales $ 184,361 $ 161,700 The following table summarizes total sales by sales channel: For the three months ended April 3, 2020 March 29, 2019 OEM $ 103,748 $ 100,505 Aftermarket 80,613 61,195 Total sales $ 184,361 $ 161,700 The following table summarizes total sales generated by geographic location of the customer: For the three months ended April 3, 2020 March 29, 2019 North America $ 130,622 $ 109,632 Asia 22,878 23,386 Europe 28,959 27,536 Rest of the world 1,902 1,146 Total sales $ 184,361 $ 161,700

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Apr. 03, 2020
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following: April 3, January 3 2020 2020 Raw materials $ 103,509 $ 87,779 Work-in-process 12,439 7,075 Finished goods 40,605 33,651 Total inventory $ 156,553 $ 128,505

Prepaids and Other Current Asse

Prepaids and Other Current Assets (Tables)	3 Months Ended
	Apr. 03, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: April 3, January 3 2020 2020 Payroll and related expenses $ 8,932 $ 14,595 Current portion of lease liabilities 6,825 6,242 Warranty 8,719 5,649 Income tax payable 6,976 4,295 Other accrued expenses 8,833 4,963 Total $ 40,285 $ 35,744
Schedule of Accrued Expenses	Prepaids and other current assets consisted of the following: April 3, January 3 2020 2020 Prepaid chassis deposits $ 52,445 $ 6,701 Advanced payments and prepaid contracts 9,686 5,774 Current portion of acquisition-related compensation held in escrow 4,642 — Other current assets 9,026 5,465 Total $ 75,799 $ 17,940

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	3 Months Ended
	Apr. 03, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, plant and equipment, net consisted of the following: April 3, January 3 2020 2020 Building and building improvements $ 50,779 $ 42,343 Information systems, office equipment and furniture 12,007 10,102 Internal-use computer software 17,708 16,860 Land 6,072 5,414 Leasehold improvements 12,457 13,841 Machinery and manufacturing equipment 68,839 57,331 Transportation equipment 5,422 5,006 Total 173,284 150,897 Less: accumulated depreciation and amortization (45,651) (42,518) Property, plant and equipment, net $ 127,633 $ 108,379
Long-lived Assets by Geographic Location	The Company’s long-lived assets by geographic location are as follows: April 3, January 3 2020 2020 United States $ 118,028 $ 100,508 International 9,605 7,871 Total long-lived assets $ 127,633 $ 108,379

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 03, 2020
Leases [Abstract]
Lease Costs	Operating lease costs consisted of the following: For the three months ended April 3, 2020 March 29, 2019 Operating lease cost $ 1,576 $ 1,420 Other lease costs (1) 274 183 Total $ 1,850 $ 1,603 (1) Includes short-term leases and variable lease costs. The Company elected a policy permitting leases with an original lease term of less than one year to be excluded from the right-of-use assets and lease liabilities.
Supplemental Balance Sheet Disclosure	Supplemental balance sheet information related to the Company's operating leases is as follows: Balance Sheet Classification April 3, 2020 Operating lease right-of-use assets Lease right-of-use assets $ 20,632 Current lease liabilities Accrued expenses $ 6,825 Non-current lease liabilities Other liabilities $ 13,709
Maturity of Lease Liabilities	Maturities of lease liabilities by fiscal year for the Company's operating leases are as follows: For fiscal year Total future payments 2020 (excluding the 3 months ended April 3, 2020) $ 5,276 2021 5,387 2022 3,766 2023 3,376 2024 1,722 Thereafter 2,722 Total lease payments 22,249 Less: imputed interest (1,715) Present value of lease liabilities 20,534 Less: current portion (6,825) Lease liabilities less current portion $ 13,709

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 03, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: April 3, January 3 2020 2020 Payroll and related expenses $ 8,932 $ 14,595 Current portion of lease liabilities 6,825 6,242 Warranty 8,719 5,649 Income tax payable 6,976 4,295 Other accrued expenses 8,833 4,963 Total $ 40,285 $ 35,744
Activity Related to Warranties	Activity related to warranties is as follows: For the three months ended April 3, 2020 March 29, 2019 Beginning warranty liability $ 5,649 $ 6,433 Charge to cost of sales 1,054 575 Fair value of warranty assumed in acquisition 3,158 — Costs incurred (1,142) (1,268) Ending warranty liability $ 8,719 $ 5,740

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 03, 2020
Debt Disclosure [Abstract]
Summary of Second Amended and Restated Credit Facility	The following table summarizes the line of credit under the Credit Facility: April 3, 2020 Amount outstanding $ 85,000 Standby letters of credit 15,000 Available borrowing capacity 150,000 Total borrowing capacity $ 250,000 Maturity date March 11, 2025

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	3 Months Ended
	Apr. 03, 2020
Fair Value Disclosures [Abstract]
Liabilities Measured at Fair Value on Recurring Basis	The following table presents the Company's hierarchy for its assets, liabilities and redeemable non-controlling interest measured at fair value on a recurring basis as of the following periods: April 3, 2020 January 3, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities: Credit Facility $ — $ 479,222 $ — $ 479,222 $ — $ 68,000 $ — $ 68,000 Non-controlling interest subject to put provisions — — 16,207 16,207 — — 15,719 15,719 Total liabilities measured at fair value $ — $ 479,222 $ 16,207 $ 495,429 $ — $ 68,000 $ 15,719 $ 83,719
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a reconciliation of the beginning and ending balances for the Company's redeemable non-controlling interest measured at fair value using Level 3 inputs: Redeemable Non-Controlling Interest (level 3 measurement) Balance at January 3, 2020 $ 15,719 Net income attributable to non-controlling interest 488 Balance at April 3, 2020 $ 16,207

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Apr. 03, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The following table summarizes the allocation of stock-based compensation in the accompanying consolidated statements of income: For the three months ended April 3, 2020 March 29, 2019 Cost of sales $ 129 $ 129 Sales and marketing 152 126 Research and development 201 165 General and administrative 1,439 1,309 Total $ 1,921 $ 1,729
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activity for the Company's unvested restricted stock units ("RSU") for the three months ended April 3, 2020: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at January 3, 2020 427 $ 44.98 Granted 43 $ 54.94 Canceled (3) $ 42.29 Vested (81) $ 31.15 Unvested at April 3, 2020 386 $ 49.01

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Apr. 03, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	For the three months ended April 3, 2020 March 29, 2019 Provision for income taxes $ 920 $ 2,601 Effective tax rates 9.5 % 12.4 %

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Apr. 03, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The Company’s allocation of the purchase price to the net tangible and intangible assets acquired and liabilities assumed is as follows: Acquisition consideration Cash consideration $ 329,209 Non-cash consideration 322 Total consideration at closing $ 329,531 Fair market values Other current assets $ 15,556 Property, plant and equipment 9,953 Lease right-of-use assets 4,027 Customer relationships 129,000 Trademarks and brand 11,500 Goodwill 192,215 Total assets acquired $ 362,251 Accounts payable and accrued expenses $ 9,454 Lease liabilities 4,027 Deferred taxes 19,239 Total liabilities assumed 32,720 Purchase price allocation $ 329,531

Description of the Business, _3

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies - Revenue Recognition (Details) $ in Thousands	Apr. 03, 2020USD ($)
Accounting Policies [Abstract]
Deferred revenue	$ 191

Description of the Business, _4

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Apr. 03, 2020	Jan. 03, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 20,632	$ 17,472
Operating lease liabilities		$ 20,534
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings, before tax	$ 300
Cumulative effect on retained earnings, net of taxes	228
Operating lease right-of-use assets	13,637
Operating lease liabilities	$ 13,937

Revenues - Sales by Product Cat

Revenues - Sales by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 184,361	$ 161,700
Powered Vehicles
Disaggregation of Revenue [Line Items]
Total sales	120,526	96,708
Specialty Sports
Disaggregation of Revenue [Line Items]
Total sales	$ 63,835	$ 64,992

Revenues - Sales by Sales Chann

Revenues - Sales by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 184,361	$ 161,700
OEM
Disaggregation of Revenue [Line Items]
Total sales	103,748	100,505
Aftermarket
Disaggregation of Revenue [Line Items]
Total sales	$ 80,613	$ 61,195

Revenues - Sales by Geographic

Revenues - Sales by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 184,361	$ 161,700
North America
Disaggregation of Revenue [Line Items]
Total sales	130,622	109,632
Asia
Disaggregation of Revenue [Line Items]
Total sales	22,878	23,386
Europe
Disaggregation of Revenue [Line Items]
Total sales	28,959	27,536
Rest of the world
Disaggregation of Revenue [Line Items]
Total sales	$ 1,902	$ 1,146

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 103,509	$ 87,779
Work-in-process	12,439	7,075
Finished goods	40,605	33,651
Total inventory	$ 156,553	$ 128,505

Prepaids and Other Current As_2

Prepaids and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid chassis deposits	$ 52,445	$ 6,701
Advanced payments and prepaid contracts	9,686	5,774
Current portion of acquisition-related compensation held in escrow	4,642	0
Other current assets	9,026	5,465
Total	$ 75,799	$ 17,940

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 173,284	$ 150,897
Less: accumulated depreciation and amortization	(45,651)	(42,518)
Property, plant and equipment, net	127,633	108,379
Building and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	50,779	42,343
Information systems, office equipment and furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	12,007	10,102
Internal-use computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	17,708	16,860
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	6,072	5,414
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	12,457	13,841
Machinery and manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	68,839	57,331
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 5,422	$ 5,006

Property, Plant and Equipment_4

Property, Plant and Equipment, net (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 127,633	$ 108,379
United States
Property, Plant and Equipment [Line Items]
Total long-lived assets	118,028	100,508
International
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 9,605	$ 7,871

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended
	Apr. 03, 2020
Lessee, Lease, Description [Line Items]
Renewal term	5 years
Option to terminate, term	1 year
Weighted-average remaining lease term	4 years 6 months 10 days
Weighted-average incremental borrowing rate	3.54%
Minimum
Lessee, Lease, Description [Line Items]
Contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Contract term	8 years

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Leases [Abstract]
Operating lease cost	$ 1,576	$ 1,420
Other lease costs	274	183
Total	$ 1,850	$ 1,603

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 20,632	$ 17,472
Current lease liabilities	6,825	$ 6,242
Non-current lease liabilities	$ 13,709

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Leases [Abstract]
2020 (excluding the 3 months ended April 3, 2020)	$ 5,276
2021	5,387
2022	3,766
2023	3,376
2024	1,722
Thereafter	2,722
Total lease payments	22,249
Less: imputed interest	(1,715)
Present value of lease liabilities	20,534
Less: current portion	(6,825)	$ (6,242)
Lease liabilities less current portion	$ 13,709

Accrued Expenses (Components) (

Accrued Expenses (Components) (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020	Mar. 29, 2019	Dec. 28, 2018
Payables and Accruals [Abstract]
Payroll and related expenses	$ 8,932	$ 14,595
Current portion of lease liabilities	6,825	6,242
Warranty	8,719	5,649	$ 5,740	$ 6,433
Income tax payable	6,976	4,295
Other accrued expenses	8,833	4,963
Total	$ 40,285	$ 35,744

Accrued Expenses (Activity Rela

Accrued Expenses (Activity Related to Warranties) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	$ 5,649	$ 6,433
Charge to cost of sales	1,054	575
Fair value of warranty assumed in acquisition	3,158	0
Costs incurred	(1,142)	(1,268)
Ending warranty liability	$ 8,719	$ 5,740

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	May 11, 2016	Apr. 03, 2020
Debt Instrument [Line Items]
Credit facility		$ 250,000
Debt issuance costs		6,622
Unamortized debt issuance costs		$ 434
Weighted average interest rate on outstanding borrowings		2.33%
Other Expense
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 277
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility		25,000
Debt issuance costs		764
Unamortized debt issuance costs		157
Standby letters of credit		$ 15,000
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.99%
LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.00%
LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.75%
Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.25%
Prime Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.00%
Prime Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.75%
Term Loan
Debt Instrument [Line Items]
Term loan amount		$ 400,000
Debt issuance costs		$ 5,858

Debt - Summary of Amended and R

Debt - Summary of Amended and Restated Credit Facility (Details) $ in Thousands	Apr. 03, 2020USD ($)
Debt Disclosure [Abstract]
Amount outstanding	$ 85,000
Available borrowing capacity	150,000
Total borrowing capacity	$ 250,000

Debt - Future Payments for Long

Debt - Future Payments for Long-term Debt (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020
Debt Disclosure [Abstract]
2020 (remaining nine months)	$ 7,500
2021	10,000
2022	17,500
2023	20,000
2024	20,000
Thereafter	325,000
Total	400,000
Debt issuance cost	5,778
Long-term debt, net of issuance cost	394,222
Less: current portion	(8,818)	$ 0
Long-term debt less current portion	$ 385,404	$ 0

Commitment and Contingencies (D

Commitment and Contingencies (Details)	Nov. 30, 2017	Mar. 11, 2020
Loss Contingencies [Line Items]
Ownership interest acquired (as a percent)		100.00%
SCA
Loss Contingencies [Line Items]
Ownership interest acquired (as a percent)	80.00%
Call option to acquire remaining interest (as a percent)	20.00%
Period to exercise put option	180 days

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 03, 2020	Jan. 03, 2020	Mar. 29, 2019	Dec. 28, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility	$ 479,222	$ 68,000
Non-controlling interest subject to put provisions	16,207	15,719	$ 14,581	$ 14,282
Total liabilities measured at fair value	495,429	83,719
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility	0	0
Non-controlling interest subject to put provisions	0	0
Total liabilities measured at fair value	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility	479,222	68,000
Non-controlling interest subject to put provisions	0	0
Total liabilities measured at fair value	479,222	68,000
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility	0	0
Non-controlling interest subject to put provisions	16,207	15,719
Total liabilities measured at fair value	$ 16,207	$ 15,719

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Reconciliation of Contingent Consideration (Details) - Level 3 $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 3, 2020	$ 15,719
Net income attributable to non-controlling interest	488
Balance at April 3, 2020	$ 16,207

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 1,921	$ 1,729
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	129	129
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	152	126
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	201	165
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 1,439	$ 1,309

Stockholders' Equity - Unvested

Stockholders' Equity - Unvested RSU Activity (Details) shares in Thousands	3 Months Ended
	Apr. 03, 2020$ / sharesshares
Number of shares outstanding
Granted (in shares) | shares	43
Forfeited (in shares) | shares	3
Vested (in shares) | shares	81
Unvested at end of period (in shares) | shares	386
Weighted-average grant date fair value
Granted (in usd per share) | $ / shares	$ 54.94
Forfeited (in usd per share) | $ / shares	42.29
Vested (in usd per share) | $ / shares	31.15
Unvested at end of period (in usd per share) | $ / shares	$ 49.01
RSUs
Number of shares outstanding
Unvested at beginning of period (in shares) | shares	427
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) | $ / shares	$ 44.98

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options exercised (in shares) | shares	0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs | $	$ 14,299
Period for recognition of unrecognized stock-based compensation expense	2 years 7 months 13 days

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 920	$ 2,601
Effective tax rates	9.50%	12.40%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Income Tax Contingency [Line Items]
Effective tax rates	9.50%	12.40%
Federal statutory rate	21.00%
Excess benefits related to exercise of awards	$ 40,000
Excess tax benefit, exercise of stock options	$ 1,825

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	3 Months Ended
	Apr. 03, 2020USD ($)
Purchase of Properties | Employees
Related Party Transaction [Line Items]
Payments made under lease	$ 28
Rental of Buildings
Related Party Transaction [Line Items]
Payments made under lease	16
Founder and Minority Stockholder
Related Party Transaction [Line Items]
Payments made under lease	$ 48

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Mar. 11, 2020	Nov. 30, 2017
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)	100.00%
Business acquisition, executive compensation of acquiree management	$ 1,750
Minimum
Business Acquisition [Line Items]
Useful life	5 years
Maximum
Business Acquisition [Line Items]
Useful life	10 years
SCA
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)		80.00%
Total consideration at closing	$ 329,531
Goodwill	192,215
Performance-based retention incentives	10,589
Transaction costs	10,579
Costs associated with performance-based incentives	143
Business acquisition, additional financing costs	$ 6,622

Acquisitions - Allocation of Pu

Acquisitions - Allocation of Purchase Price (Details) - SCA $ in Thousands	Mar. 11, 2020USD ($)
Acquisition consideration
Cash consideration	$ 329,209
Non-cash consideration	322
Total consideration at closing	329,531
Fair market values
Other current assets	15,556
Property, plant and equipment	9,953
Lease right-of-use assets	4,027
Goodwill	192,215
Total assets acquired	362,251
Accounts payable and accrued expenses	9,454
Lease liabilities	4,027
Deferred taxes	19,239
Total liabilities assumed	32,720
Purchase price allocation	329,531
Customer relationships
Fair market values
Finite-lived intangible assets	129,000
Trademarks and brand
Fair market values
Finite-lived intangible assets	$ 11,500

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 03, 2020	Mar. 29, 2019
Business Acquisition [Line Items]
Pro forma sales	$ 203,709	$ 177,258
Pro forma net income attributable to FOX stockholders	$ 15,570	$ 8,810
Pro forma basic earnings per share (in USD per share)	$ 0.40	$ 0.23
Pro forma diluted earnings per share (in USD per share)	$ 0.40	$ 0.23
Total SCA pre-tax income included in the condensed consolidated statements of income	$ 68
SCA
Business Acquisition [Line Items]
Pro forma sales	$ 6,548

Uncategorized Items - foxf-2020

Label	Element	Value
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	us-gaap_BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned	$ 322,000
Additional Paid-in Capital [Member]
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	us-gaap_BusinessAcquisitionEquityInterestIssuedOrIssuableValueAssigned	$ 322,000