Fox Factory Holding (FOXF) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended	6 Months Ended
	Jul. 03, 2020	Jul. 03, 2020	Aug. 03, 2020	Jan. 03, 2020
Cover [Abstract]
Document Type		10-Q
Document Quarterly Report		true
Document Period End Date		Jul. 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)	41,438	41,438		38,559
Amendment Flag		false
Document Fiscal Year Focus		2020
Document Fiscal Period Focus		Q2
Entity Central Index Key		0001424929
Current Fiscal Year End Date		--01-01
Entity Common Stock, Shares Outstanding			41,437,681

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Current assets:
Cash and cash equivalents	$ 217,965	$ 43,736
Accounts receivable (net of allowances of $1,212 and $810 at July 3, 2020 and January 3, 2020, respectively)	87,670	91,632
Inventory	148,464	128,505
Prepaids and other current assets	46,085	17,940
Total current assets	500,184	281,813
Property, plant and equipment, net	146,974	108,379
Lease right-of-use assets	19,221	17,472
Deferred tax assets	13,814	25,725
Goodwill	285,758	93,527
Intangibles, net	214,642	81,949
Other assets	4,611	451
Total assets	1,185,204	609,316
Current liabilities:
Accounts payable	64,939	55,144
Accrued expenses	42,298	35,744
Reserve for uncertain tax positions	992	925
Current portion of long-term debt	10,000	0
Total current liabilities	118,229	91,813
Line of credit	15,000	68,000
Long-term debt, less current portion	381,393	0
Other liabilities	12,543	11,584
Total liabilities	527,165	171,397
Commitments and contingencies (Refer to Note 9 - Commitments and Contingencies)
Redeemable non-controlling interest	24,975	15,719
Stockholders’ equity
Preferred stock, $0.001 par value — 10,000 authorized and no shares issued or outstanding as of July 3, 2020 and January 3, 2020	0	0
Common stock, $0.001 par value — 90,000 authorized; 42,327 shares issued and 41,438 outstanding as of July 3, 2020; 39,448 shares issued and 38,559 outstanding as of January 3, 2020	41	39
Additional paid-in capital	321,479	123,274
Treasury stock, at cost; 890 common shares as of July 3, 2020 and January 3, 2020	(13,754)	(13,754)
Accumulated other comprehensive income	133	150
Retained earnings	325,165	312,491
Total stockholders’ equity	633,064	422,200
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$ 1,185,204	$ 609,316

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,212	$ 810
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	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)	42,327	39,448
Common stock, shares outstanding (in shares)	41,438	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		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Sales	$ 183,102	$ 192,122	$ 367,463	$ 353,822
Cost of sales	123,116	129,902	250,862	240,545
Gross profit	59,986	62,220	116,601	113,277
Operating expenses:
Sales and marketing	12,561	11,264	24,624	20,526
Research and development	8,236	7,763	16,265	15,066
General and administrative	14,566	12,158	36,979	23,338
Amortization of purchased intangibles	5,264	1,564	7,807	3,057
Total operating expenses	40,627	32,749	85,675	61,987
Income from operations	19,359	29,471	30,926	51,290
Other expense, net:
Interest expense	2,892	1,005	4,739	1,834
Other expense	71	582	133	569
Other expense, net	2,963	1,587	4,872	2,403
Income before income taxes	16,396	27,884	26,054	48,887
Provision for income taxes	3,204	4,522	4,124	7,123
Net income	13,192	23,362	21,930	41,764
Less: net income attributable to non-controlling interest	584	441		740
Net income attributable to FOX stockholders	$ 12,608	$ 22,921	$ 20,858	$ 41,024
Earnings per share:
Basic (in dollars per share)	$ 0.32	$ 0.60	$ 0.54	$ 1.07
Diluted (in dollars per share)	$ 0.32	$ 0.59	$ 0.53	$ 1.05
Weighted-average shares used to compute earnings per share:
Basic (in shares)	38,991	38,286	38,781	38,164
Diluted (in shares)	39,584	39,181	39,368	39,140
Level 3
Other expense, net:
Less: net income attributable to non-controlling interest			$ 1,072

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 13,192	$ 23,362	$ 21,930	$ 41,764
Other comprehensive income (loss)
Foreign currency translation adjustments, net of tax effects	923	314	(17)	155
Other comprehensive income (loss)	923	314	(17)	155
Comprehensive income	14,115	23,676	21,913	41,919
Less: comprehensive income attributable to non-controlling interest	584	441	1,072	740
Comprehensive income attributable to FOX stockholders	$ 13,531	$ 23,235	$ 20,841	$ 41,179

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 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]
Foreign currency translation adjustment	155
Net income	41,024
Ending Balance (in shares) at Jun. 28, 2019		39,274,000	890,000
Ending Balance at Jun. 28, 2019	369,180	$ 38	$ (13,754)	123,043	(629)	260,482
Beginning Balance at Dec. 28, 2018	14,282
Ending Balance at Jun. 28, 2019	15,022
Beginning Balance (in shares) at Mar. 29, 2019		39,061,000	890,000
Beginning Balance at Mar. 29, 2019	339,421	$ 38	$ (13,754)	116,519	(943)	237,561
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)		115,000
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	(2,264)			(2,264)
Issuance of stock for business acquisition (in shares)		98,000
Issuance of stock for business acquisition	7,167			7,167
Stock-based compensation expense	1,621			1,621
Foreign currency translation adjustment	314				314
Net income	22,921					22,921
Ending Balance (in shares) at Jun. 28, 2019		39,274,000	890,000
Ending Balance at Jun. 28, 2019	369,180	$ 38	$ (13,754)	123,043	(629)	260,482
Beginning Balance at Mar. 29, 2019	14,581
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income	441
Ending Balance at Jun. 28, 2019	$ 15,022
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		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
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]
Foreign currency translation adjustment	(17)
Net income	$ 20,858
Ending Balance (in shares) at Jul. 03, 2020	41,438	42,327,000	890,000
Ending Balance at Jul. 03, 2020	$ 633,064	$ 41	$ (13,754)	321,479	133	325,165
Beginning Balance at Jan. 03, 2020	15,719
Ending Balance at Jul. 03, 2020	24,975
Beginning Balance (in shares) at Apr. 03, 2020		39,493,000	890,000
Beginning Balance at Apr. 03, 2020	429,706	$ 39	$ (13,754)	123,470	(790)	320,741
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)		74,000
Issuance of common stock under equity compensation plans, net of shares repurchased for income tax withholding	(2,301)			(2,301)
Issuance of common stock, net (in shares)		2,760,000
Issuance of common stock, net	198,236	$ 2		198,234
Stock-based compensation expense	2,076			2,076
Foreign currency translation adjustment	923			923
Net income	$ 12,608					12,608
Ending Balance (in shares) at Jul. 03, 2020	41,438	42,327,000	890,000
Ending Balance at Jul. 03, 2020	$ 633,064	$ 41	$ (13,754)	$ 321,479	$ 133	325,165
Beginning Balance at Apr. 03, 2020	16,207
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income	584
Ending Balance at Jul. 03, 2020	24,975
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment to the fair value of non-controlling interest	(8,184)					$ (8,184)
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Adjustment to fair value of non-controlling interest	$ 8,184

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows $ in Thousands	6 Months Ended
	Jul. 03, 2020USD ($)	Jun. 28, 2019USD ($)
OPERATING ACTIVITIES:
Net income	$ 21,930	$ 41,764
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,019	8,184
Stock-based compensation	3,997	3,350
Deferred taxes and uncertain tax positions	(7,238)	(816)
Amortization of loan fees	713	120
Loss on extinguishment of debt	0	516
Changes in operating assets and liabilities, net of effects of acquisition of business:
Accounts receivable	13,133	(17,115)
Inventory	(13,583)	(24,977)
Income taxes	2,341	(3,411)
Prepaids and other assets	(30,707)	(379)
Accounts payable	2,728	15,671
Accrued expenses and other liabilities	(2,644)	(2,483)
Net cash provided by operating activities	5,689	20,424
INVESTING ACTIVITIES:
Purchases of property and equipment	(32,770)	(16,377)
Acquisition of businesses, net of cash acquired	(329,222)	(6,804)
Net cash used in investing activities	(361,992)	(23,181)
FINANCING ACTIVITIES:
Proceeds from line of credit	201,768	45,000
Payments on line of credit	(254,768)	(25,000)
Proceeds from issuance of debt, net of origination fees of $7,616	392,385	0
Capital Expenditures Incurred but Not yet Paid	4,784	1,770
Repayment of debt	(2,500)	(2,813)
Proceeds from sale of common stock, net	198,236	0
Repurchases from stock compensation program, net	(4,348)	(3,494)
Net cash provided by financing activities	530,773	13,693
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(241)	127
CHANGE IN CASH AND CASH EQUIVALENTS	174,229	11,063
CASH AND CASH EQUIVALENTS—Beginning of period	43,736	27,958
CASH AND CASH EQUIVALENTS—End of period	217,965	39,021
Interest and Income Taxes Paid [Abstract]
Income Taxes Paid	9,734	14,847
Interest Paid, Excluding Capitalized Interest, Operating Activities	3,953	1,442
Operating Lease, Payments	3,432	2,929
Cash Flow, Noncash Operating Activities Disclosure [Abstract]
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	4,336	6,131
Acquisition of business in exchange for equity	0	$ 7,167
Debt issuance costs	$ 7,616

Description of the Business, Ba

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jul. 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 and six month periods ended July 3, 2020 and June 28, 2019 each included 13 weeks and 26 weeks, respectively. 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. Revenues exclude sales tax. 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 July 3, 2020, the balance of deferred revenue related to pricing provisions was $0 as such arrangements containing these pricing provisions had expired. 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”) pandemic. 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 took actions to manage costs during this time by enacting temporary executive pay cuts and 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 First Amended and Restated 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 accounting standards update ("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 2016-15 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. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which modifies the disclosure requirements of fair value measurements in Topic 820. This standard is effective for fiscal years beginning after December 15, 2019. The Company adopted ASU 2018-13 effective in the first quarter of fiscal year 2020. The adoption of ASU 2018-13 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other: Internal-Use Software, which helps simplify how entities evaluate the accounting for costs paid by a customer in a cloud computing arrangement that is a service contract. This standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company adopted ASU 2018-15 effective in the first quarter of fiscal year 2020. The adoption of ASU 2018-15 did not have a material impact on the Company's consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which helps simplify how entities account for income taxes by removing various exceptions related to the recognition of deferred tax liabilities and updating other tax computation requirements. This standard is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements.

Revenues

Revenues	6 Months Ended
	Jul. 03, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table summarizes total sales by product category: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Powered Vehicles $ 98,524 $ 115,245 $ 219,050 $ 211,954 Specialty Sports 84,578 76,877 148,413 141,868 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822 The following table summarizes total sales by sales channel: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 OEM $ 87,860 $ 117,321 $ 191,608 $ 217,826 Aftermarket 95,242 74,801 175,855 135,996 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822 The following table summarizes total sales generated by geographic location of the customer: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 North America $ 116,970 $ 131,158 $ 247,592 $ 240,790 Asia 33,385 27,981 56,263 51,367 Europe 31,260 30,515 60,219 58,050 Rest of the world 1,487 2,468 3,389 3,615 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822

Inventory

Inventory	6 Months Ended
	Jul. 03, 2020
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following: July 3, January 3 2020 2020 Raw materials $ 102,313 $ 87,779 Work-in-process 14,021 7,075 Finished goods 32,130 33,651 Total inventory $ 148,464 $ 128,505

Prepaids and Other Assets

Prepaids and Other Assets	6 Months Ended
	Jul. 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: July 3, January 3 2020 2020 Prepaid chassis deposits $ 27,916 $ 6,701 Advanced payments and prepaid contracts 8,488 5,774 Current portion of acquisition-related compensation held in escrow 4,642 — Other current assets 5,039 5,465 Total $ 46,085 $ 17,940

Property, Plant and Equipment,

Property, Plant and Equipment, net	6 Months Ended
	Jul. 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: July 3, January 3 2020 2020 Building and building improvements $ 68,223 $ 42,343 Information systems, office equipment and furniture 12,524 10,102 Internal-use computer software 19,059 16,860 Land 6,039 5,414 Leasehold improvements 12,947 13,841 Machinery and manufacturing equipment 72,096 57,331 Transportation equipment 5,607 5,006 Total 196,495 150,897 Less: accumulated depreciation and amortization (49,521) (42,518) Property, plant and equipment, net $ 146,974 $ 108,379 The Company’s long-lived assets by geographic location are as follows: July 3, January 3 2020 2020 United States $ 135,005 $ 100,508 International 11,969 7,871 Total long-lived assets $ 146,974 $ 108,379

Leases

Leases	6 Months Ended
	Jul. 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 4.29 years and the weighted-average incremental borrowing rate was 3.54% as of July 3, 2020. Operating lease costs consisted of the following: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Operating lease cost $ 1,798 $ 1,549 $ 3,374 $ 2,969 Other lease costs (1) 245 242 519 425 Total $ 2,043 $ 1,791 $ 3,893 $ 3,394 (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 July 3, 2020 Operating lease right-of-use assets Lease right-of-use assets $ 19,221 Current lease liabilities Accrued expenses $ 6,485 Non-current lease liabilities Other liabilities $ 12,543 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 6 months ended July 3, 2020) $ 3,476 2021 5,427 2022 3,783 2023 3,392 2024 1,737 Thereafter 2,766 Total lease payments 20,581 Less: imputed interest (1,553) Present value of lease liabilities 19,028 Less: current portion (6,485) Lease liabilities less current portion $ 12,543

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jul. 03, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following: July 3, January 3 2020 2020 Payroll and related expenses $ 9,662 $ 14,595 Current portion of lease liabilities 6,485 6,242 Warranty 8,915 5,649 Income tax payable 8,523 4,295 Other accrued expenses 8,713 4,963 Total $ 42,298 $ 35,744 Activity related to warranties is as follows: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Beginning warranty liability $ 8,719 $ 5,740 $ 5,649 $ 6,433 Charge to cost of sales 1,690 1,558 2,806 2,133 Fair value of warranty assumed in acquisition — 100 3,158 100 Costs incurred (1,494) (1,190) (2,698) (2,458) Ending warranty liability $ 8,915 $ 6,208 $ 8,915 $ 6,208

Debt

Debt	6 Months Ended
	Jul. 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"). First 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 amended and restated on March 11, 2020 and June 19, 2020 (as most recently amended and restated as the "First Amended and Restated Credit Facility"). The First Amended and Restated 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 $7,616 in debt issuance costs, of which $6,458 were allocated to the term debt and $1,158 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 six months ended July 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 First Amended and Restated Credit Facility. The First Amended and Restated 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 2.25%, or based on the base rate offered by Bank of America plus a margin ranging from 0.00% to 1.25%. At July 3, 2020, the one-month LIBOR and prime rates were 0.17% and 3.25%, respectively. At July 3, 2020, our weighted-average interest rate on outstanding borrowing was 2.05%. The First Amended and Restated 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 July 3, 2020. The First Amended and Restated 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 July 3, 2020. The following table summarizes the line of credit under the First Amended and Restated Credit Facility: July 3, 2020 Amount outstanding $ 15,000 Standby letters of credit 15,000 Available borrowing capacity 220,000 Total borrowing capacity $ 250,000 Maturity date March 11, 2025

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 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. 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 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 has affirmed the PTAB opinion. 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 the assets of Flagship, Inc., d/b/a Tuscany and issued a 20% interest in FF US Holding Corp. to Flagship, Inc. A stockholders' agreement with Flagship, Inc. provided the Company with a call option (the "Call Option") to acquire the remaining 20% of FF US Holding Corp. at any time from November 30, 2019 through November 30, 2024 at a value that approximates fair market value. On July 22, 2020, subsequent to its second fiscal quarter, the Company exercised the Call Option and entered into a stock purchase agreement with Flagship, Inc. whereby the Company agreed to purchase the remaining 20% interest for $24,975 payable in a combination of stock and cash. The cash portion will be settled in quarterly installment payments through July 2022, which amount to $6,556, $4,550 and $2,700 in 2020, 2021 and 2022, respectively. The exercise of the Call Option effectively canceled the put option held by Flagship, Inc. On July 24, 2019, the Company entered into a standard form of agreement 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. Other Contingencies - On June 21, 2018, the U.S. Supreme Court (the “Court”) decided South Dakota v. Wayfair, Inc., et al., holding that internet retailers do not have to maintain a physical presence in a state in order to be required to collect the state’s sales and use tax. As a result of the Court’s decision, most states enacted legislation to require sellers who meet economic nexus thresholds to register, collect and remit sales and use taxes on transactions with out-of-state customers. The Company believes that it is possible that it will incur a liability for uncollected sales tax on some portion of its e-commerce sales through July 3, 2020. Based on information currently available, any retroactively imposed liability is not expected to be material to the Company’s results of operations or financial position because direct end-user sales in states where the Company is not registered comprise a small portion of total revenues.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	6 Months Ended
	Jul. 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: July 3, 2020 January 3, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities: Credit Facility $ — $ 406,393 $ — $ 406,393 $ — $ 68,000 $ — $ 68,000 Non-controlling interest subject to put provisions — — 24,975 24,975 — — 15,719 15,719 Total liabilities measured at fair value $ — $ 406,393 $ 24,975 $ 431,368 $ — $ 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 and six month period ended July 3, 2020. The Company used Level 2 inputs to determine the fair value of its First Amended and Restated Credit Facility. As of July 3, 2020, the carrying amount of the principal under the Company’s First Amended and Restated 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. As of July 3, 2020, the Company had potential obligations to purchase the non-controlling interests held by third parties in the Tuscany subsidiary. These obligations were in the form of put provisions and were 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 July 3, 2020, the estimated fair value was adjusted based on the agreement between the Company and the non-controlling interest holders executed on July 22, 2020. Refer to Note 9 - Commitments and Contingencies for additional details of this agreement. 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 1,072 Change in fair value 8,184 Balance at July 3, 2020 $ 24,975

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jul. 03, 2020
Share-based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Secondary Stock Offerings In June 2020, the Company closed a secondary offering whereby it sold 2,760 shares of its common stock at a price of $76.00 per share for gross proceeds of $209,760. The net proceeds to the Company after underwriters' discounts and commissions of $11,015 and $511 of offering costs was $198,234. The total shares sold included 360 shares that were sold in connection with the underwriters' option to purchase additional shares. This offering was made pursuant to the Company's registration statement on Form S-3. 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 For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Cost of sales $ 147 $ 114 $ 276 243 Sales and marketing 165 113 317 239 Research and development 218 155 419 320 General and administrative 1,546 1,239 2,985 2,548 Total $ 2,076 $ 1,621 $ 3,997 3,350 The following table summarizes the activity for the Company's unvested restricted stock units ("RSU") for the six months ended July 3, 2020: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at January 3, 2020 427 $ 44.98 Granted 245 $ 44.65 Canceled (8) $ 47.75 Vested (190) $ 36.37 Unvested at July 3, 2020 474 $ 48.20 As of July 3, 2020, the Company had approximately $20,523 of unrecognized stock-based compensation expense related to RSUs, which will be recognized over the remaining weighted-average vesting period of approximately 2.89 years. During the six months ended July 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 July 3, 2020, stock-based compensation expense related to stock options has been fully recognized.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 03, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Provision for income taxes $ 3,204 $ 4,522 $ 4,124 $ 7,123 Effective tax rates 19.5 % 16.2 % 15.8 % 14.6 % For the three and six months ended July 3, 2020, the difference between the Company's effective tax rate and the 21% federal statutory rate resulted primarily from a lower tax rate on foreign derived intangible income, research and development credits, and $646 and $686 in excess benefits related to stock-based compensation, respectively. For the three months ended April 3, 2020, the Company benefited from a negotiated reduction of Switzerland withholding tax on prior year earnings. These benefits were partially offset by state taxes, global low-tax intangible income tax and non-deductible expenses. For the three and six months ended June 28, 2019, the difference between the Company's effective tax rate and the 21% federal statutory rate resulted primarily from lower foreign tax rates, a lower tax rate on foreign derived intangible income, research and development credits, and $1,808 and $3,635 from excess benefits related to stock-based compensation, respectively. These benefits were partially offset by state taxes, foreign withholding taxes and the impact of non-deductible 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	6 Months Ended
	Jul. 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 and $96 for the three and six months ended July 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 $84 and $112 for the three and six months ended July 3, 2020. Refer to Note 14 - Acquisitions for further details of this acquisition.

Acquisitions

Acquisitions	6 Months Ended
	Jul. 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 $1,350 and $1,493 in costs associated with such retention incentives during the three and six months ended July 3, 2020. Additionally, the Company paid $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 $10,582 of acquisition costs in conjunction with the SCA acquisition, including $1,750 of transaction compensation during the six months ended July 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 First Amended and Restated 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 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 six months ended July 3, 2020 exclude transaction costs associated with the acquisition and the results for the six months ended June 28, 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 six months ended July 3, 2020 June 28, 2019 Pro forma sales $ 386,811 $ 394,700 Pro forma net income attributable to FOX stockholders $ 28,664 $ 29,249 Pro forma basic earnings per share $ 0.74 $ 0.77 Pro forma diluted earnings per share $ 0.73 $ 0.75 Total SCA revenues included in the condensed consolidated statements of income $ 26,597 Total SCA pre-tax income included in the condensed consolidated statements of income $ 333

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 03, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 22, 2020 the Company entered into a stock purchase agreement with Flagship, Inc. whereby the Company agreed to purchase the remaining 20% interest of FF US Holding Corp. for $24,975 payable in a combination of stock and cash. The cash portion will be settled in quarterly installment payments through July 2022.

Description of the Business, _2

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 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 and six month periods ended July 3, 2020 and June 28, 2019 each included 13 weeks and 26 weeks, respectively.
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. Revenues exclude sales tax.
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”) pandemic. 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 took actions to manage costs during this time by enacting temporary executive pay cuts and 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 accounting standards update ("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 2016-15 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. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which modifies the disclosure requirements of fair value measurements in Topic 820. This standard is effective for fiscal years beginning after December 15, 2019. The Company adopted ASU 2018-13 effective in the first quarter of fiscal year 2020. The adoption of ASU 2018-13 did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other: Internal-Use Software, which helps simplify how entities evaluate the accounting for costs paid by a customer in a cloud computing arrangement that is a service contract. This standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company adopted ASU 2018-15 effective in the first quarter of fiscal year 2020. The adoption of ASU 2018-15 did not have a material impact on the Company's consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which helps simplify how entities account for income taxes by removing various exceptions related to the recognition of deferred tax liabilities and updating other tax computation requirements. This standard is effective for fiscal years beginning after December 15, 2020 and early adoption is permitted. The Company is currently assessing the impact this guidance will have on its consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jul. 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 For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Powered Vehicles $ 98,524 $ 115,245 $ 219,050 $ 211,954 Specialty Sports 84,578 76,877 148,413 141,868 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822 The following table summarizes total sales by sales channel: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 OEM $ 87,860 $ 117,321 $ 191,608 $ 217,826 Aftermarket 95,242 74,801 175,855 135,996 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822 The following table summarizes total sales generated by geographic location of the customer: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 North America $ 116,970 $ 131,158 $ 247,592 $ 240,790 Asia 33,385 27,981 56,263 51,367 Europe 31,260 30,515 60,219 58,050 Rest of the world 1,487 2,468 3,389 3,615 Total sales $ 183,102 $ 192,122 $ 367,463 $ 353,822

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jul. 03, 2020
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following: July 3, January 3 2020 2020 Raw materials $ 102,313 $ 87,779 Work-in-process 14,021 7,075 Finished goods 32,130 33,651 Total inventory $ 148,464 $ 128,505

Prepaids and Other Current Asse

Prepaids and Other Current Assets (Tables)	6 Months Ended
	Jul. 03, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: July 3, January 3 2020 2020 Payroll and related expenses $ 9,662 $ 14,595 Current portion of lease liabilities 6,485 6,242 Warranty 8,915 5,649 Income tax payable 8,523 4,295 Other accrued expenses 8,713 4,963 Total $ 42,298 $ 35,744
Schedule of Accrued Expenses	Prepaids and other current assets consisted of the following: July 3, January 3 2020 2020 Prepaid chassis deposits $ 27,916 $ 6,701 Advanced payments and prepaid contracts 8,488 5,774 Current portion of acquisition-related compensation held in escrow 4,642 — Other current assets 5,039 5,465 Total $ 46,085 $ 17,940

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	6 Months Ended
	Jul. 03, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, plant and equipment, net consisted of the following: July 3, January 3 2020 2020 Building and building improvements $ 68,223 $ 42,343 Information systems, office equipment and furniture 12,524 10,102 Internal-use computer software 19,059 16,860 Land 6,039 5,414 Leasehold improvements 12,947 13,841 Machinery and manufacturing equipment 72,096 57,331 Transportation equipment 5,607 5,006 Total 196,495 150,897 Less: accumulated depreciation and amortization (49,521) (42,518) Property, plant and equipment, net $ 146,974 $ 108,379
Long-lived Assets by Geographic Location	The Company’s long-lived assets by geographic location are as follows: July 3, January 3 2020 2020 United States $ 135,005 $ 100,508 International 11,969 7,871 Total long-lived assets $ 146,974 $ 108,379

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 03, 2020
Leases [Abstract]
Lease Costs	Operating lease costs consisted of the following: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Operating lease cost $ 1,798 $ 1,549 $ 3,374 $ 2,969 Other lease costs (1) 245 242 519 425 Total $ 2,043 $ 1,791 $ 3,893 $ 3,394 (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 July 3, 2020 Operating lease right-of-use assets Lease right-of-use assets $ 19,221 Current lease liabilities Accrued expenses $ 6,485 Non-current lease liabilities Other liabilities $ 12,543
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 6 months ended July 3, 2020) $ 3,476 2021 5,427 2022 3,783 2023 3,392 2024 1,737 Thereafter 2,766 Total lease payments 20,581 Less: imputed interest (1,553) Present value of lease liabilities 19,028 Less: current portion (6,485) Lease liabilities less current portion $ 12,543

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jul. 03, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: July 3, January 3 2020 2020 Payroll and related expenses $ 9,662 $ 14,595 Current portion of lease liabilities 6,485 6,242 Warranty 8,915 5,649 Income tax payable 8,523 4,295 Other accrued expenses 8,713 4,963 Total $ 42,298 $ 35,744
Activity Related to Warranties	Activity related to warranties is as follows: For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Beginning warranty liability $ 8,719 $ 5,740 $ 5,649 $ 6,433 Charge to cost of sales 1,690 1,558 2,806 2,133 Fair value of warranty assumed in acquisition — 100 3,158 100 Costs incurred (1,494) (1,190) (2,698) (2,458) Ending warranty liability $ 8,915 $ 6,208 $ 8,915 $ 6,208

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 03, 2020
Debt Disclosure [Abstract]
Summary of Second Amended and Restated Credit Facility	The following table summarizes the line of credit under the First Amended and Restated Credit Facility: July 3, 2020 Amount outstanding $ 15,000 Standby letters of credit 15,000 Available borrowing capacity 220,000 Total borrowing capacity $ 250,000 Maturity date March 11, 2025
Schedule of Future Principal Payments	As of July 3, 2020, future principal payments for long-term debt, including the current portion, as summarized as follows: July 3, 2020 For fiscal year 2020 (remaining six months) $ 5,000 2021 10,000 2022 17,500 2023 20,000 2024 20,000 Thereafter 325,000 Total 397,500 Debt issuance cost (6,107) Long-term debt, net of issuance cost 391,393 Less: current portion (10,000) Long-term debt less current portion $ 381,393

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	6 Months Ended
	Jul. 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: July 3, 2020 January 3, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Liabilities: Credit Facility $ — $ 406,393 $ — $ 406,393 $ — $ 68,000 $ — $ 68,000 Non-controlling interest subject to put provisions — — 24,975 24,975 — — 15,719 15,719 Total liabilities measured at fair value $ — $ 406,393 $ 24,975 $ 431,368 $ — $ 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 1,072 Change in fair value 8,184 Balance at July 3, 2020 $ 24,975

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jul. 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 For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Cost of sales $ 147 $ 114 $ 276 243 Sales and marketing 165 113 317 239 Research and development 218 155 419 320 General and administrative 1,546 1,239 2,985 2,548 Total $ 2,076 $ 1,621 $ 3,997 3,350
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activity for the Company's unvested restricted stock units ("RSU") for the six months ended July 3, 2020: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at January 3, 2020 427 $ 44.98 Granted 245 $ 44.65 Canceled (8) $ 47.75 Vested (190) $ 36.37 Unvested at July 3, 2020 474 $ 48.20

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jul. 03, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	For the three months ended For the six months ended July 3, 2020 June 28, 2019 July 3, 2020 June 28, 2019 Provision for income taxes $ 3,204 $ 4,522 $ 4,124 $ 7,123 Effective tax rates 19.5 % 16.2 % 15.8 % 14.6 %

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jul. 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	Jul. 03, 2020USD ($)
Accounting Policies [Abstract]
Deferred revenue	$ 0

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	Jul. 03, 2020	Jan. 03, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 19,221	$ 17,472
Operating lease liabilities		$ 19,028
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		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 183,102	$ 192,122	$ 367,463	$ 353,822
Powered Vehicles
Disaggregation of Revenue [Line Items]
Total sales	98,524	115,245	219,050	211,954
Specialty Sports
Disaggregation of Revenue [Line Items]
Total sales	$ 84,578	$ 76,877	$ 148,413	$ 141,868

Revenues - Sales by Sales Chann

Revenues - Sales by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 183,102	$ 192,122	$ 367,463	$ 353,822
OEM
Disaggregation of Revenue [Line Items]
Total sales	87,860	117,321	191,608	217,826
Aftermarket
Disaggregation of Revenue [Line Items]
Total sales	$ 95,242	$ 74,801	$ 175,855	$ 135,996

Revenues - Sales by Geographic

Revenues - Sales by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Disaggregation of Revenue [Line Items]
Total sales	$ 183,102	$ 192,122	$ 367,463	$ 353,822
North America
Disaggregation of Revenue [Line Items]
Total sales	116,970	131,158	247,592	240,790
Asia
Disaggregation of Revenue [Line Items]
Total sales	33,385	27,981	56,263	51,367
Europe
Disaggregation of Revenue [Line Items]
Total sales	31,260	30,515	60,219	58,050
Rest of the world
Disaggregation of Revenue [Line Items]
Total sales	$ 1,487	$ 2,468	$ 3,389	$ 3,615

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 102,313	$ 87,779
Work-in-process	14,021	7,075
Finished goods	32,130	33,651
Total inventory	$ 148,464	$ 128,505

Prepaids and Other Current As_2

Prepaids and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid chassis deposits	$ 27,916	$ 6,701
Advanced payments and prepaid contracts	8,488	5,774
Current portion of acquisition-related compensation held in escrow	4,642	0
Other current assets	5,039	5,465
Total	$ 46,085	$ 17,940

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 196,495	$ 150,897
Less: accumulated depreciation and amortization	(49,521)	(42,518)
Property, plant and equipment, net	146,974	108,379
Building and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	68,223	42,343
Information systems, office equipment and furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	12,524	10,102
Internal-use computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	19,059	16,860
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	6,039	5,414
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	12,947	13,841
Machinery and manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	72,096	57,331
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 5,607	$ 5,006

Property, Plant and Equipment_4

Property, Plant and Equipment, net (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 146,974	$ 108,379
United States
Property, Plant and Equipment [Line Items]
Total long-lived assets	135,005	100,508
International
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 11,969	$ 7,871

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jul. 03, 2020
Lessee, Lease, Description [Line Items]
Renewal term	5 years
Option to terminate, term	1 year
Weighted-average remaining lease term	4 years 3 months 14 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		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Leases [Abstract]
Operating lease cost	$ 1,798	$ 1,549	$ 3,374	$ 2,969
Other lease costs	245	242	519	425
Total	$ 2,043	$ 1,791	$ 3,893	$ 3,394

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 19,221	$ 17,472
Current lease liabilities	6,485	$ 6,242
Non-current lease liabilities	$ 12,543

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Leases [Abstract]
2020 (excluding the 6 months ended July 3, 2020)	$ 3,476
2021	5,427
2022	3,783
2023	3,392
2024	1,737
Thereafter	2,766
Total lease payments	20,581
Less: imputed interest	(1,553)
Present value of lease liabilities	19,028
Less: current portion	(6,485)	$ (6,242)
Lease liabilities less current portion	$ 12,543

Accrued Expenses (Components) (

Accrued Expenses (Components) (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Apr. 03, 2020	Jan. 03, 2020	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018
Payables and Accruals [Abstract]
Payroll and related expenses	$ 9,662		$ 14,595
Current portion of lease liabilities	6,485		6,242
Warranty	8,915	$ 8,719	5,649	$ 6,208	$ 5,740	$ 6,433
Income tax payable	8,523		4,295
Other accrued expenses	8,713		4,963
Total	$ 42,298		$ 35,744

Accrued Expenses (Activity Rela

Accrued Expenses (Activity Related to Warranties) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	$ 8,719	$ 5,740	$ 5,649	$ 6,433
Charge to cost of sales	1,690	1,558	2,806	2,133
Fair value of warranty assumed in acquisition	0	100	3,158	100
Costs incurred	(1,494)	(1,190)	(2,698)	(2,458)
Ending warranty liability	$ 8,915	$ 6,208	$ 8,915	$ 6,208

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	May 11, 2016	Jul. 03, 2020
Debt Instrument [Line Items]
Credit facility		$ 250,000
Debt issuance costs		7,616
Unamortized debt issuance costs		$ 434
Weighted average interest rate on outstanding borrowings		2.05%
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		1,158
Unamortized debt issuance costs		157
Standby letters of credit		$ 15,000
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.17%
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)	2.25%
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)	1.25%
Term Loan
Debt Instrument [Line Items]
Term loan amount		$ 400,000
Debt issuance costs		$ 6,458

Debt - Summary of Amended and R

Debt - Summary of Amended and Restated Credit Facility (Details) $ in Thousands	Jul. 03, 2020USD ($)
Debt Disclosure [Abstract]
Amount outstanding	$ 15,000
Available borrowing capacity	220,000
Total borrowing capacity	$ 250,000

Debt - Future Payments for Long

Debt - Future Payments for Long-term Debt (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Jan. 03, 2020
Debt Disclosure [Abstract]
2020 (remaining six months)	$ 5,000
2021	10,000
2022	17,500
2023	20,000
2024	20,000
Thereafter	325,000
Total	397,500
Debt issuance cost	(6,107)
Long-term debt, net of issuance cost	391,393
Less: current portion	(10,000)	$ 0
Long-term debt less current portion	$ 381,393	$ 0

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Thousands	Jul. 22, 2020USD ($)	Mar. 11, 2020USD ($)	Jul. 24, 2019USD ($)ft²	Jul. 03, 2020USD ($)	Nov. 30, 2017
Loss Contingencies [Line Items]
Ownership interest acquired (as a percent)		100.00%
Installment payment, 2020				$ 6,556
Installment payment, 2021				4,550
Installment payment, 2022				$ 2,700
Carroll Daniel Construction Company
Loss Contingencies [Line Items]
Area of provided design and construction services | ft²			336,000
Payments under terms of agreement			$ 36,500
SCA
Loss Contingencies [Line Items]
Call option to acquire remaining interest					20.00%
Total consideration at closing		$ 329,531
SCA | Subsequent Event
Loss Contingencies [Line Items]
Call option to acquire remaining interest	20.00%
Total consideration at closing	$ 24,975

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jul. 03, 2020	Apr. 03, 2020	Jan. 03, 2020	Jun. 28, 2019	Mar. 29, 2019	Dec. 28, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Credit Facility	$ 406,393		$ 68,000
Non-controlling interest subject to put provisions	24,975	$ 16,207	15,719	$ 15,022	$ 14,581	$ 14,282
Total liabilities measured at fair value	431,368		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	406,393		68,000
Non-controlling interest subject to put provisions	0		0
Total liabilities measured at fair value	406,393		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	24,975		15,719
Total liabilities measured at fair value	$ 24,975		$ 15,719

Fair Value Measurements and F_4

Fair Value Measurements and Financial Instruments - Reconciliation of Contingent Consideration (Details) $ in Thousands	6 Months Ended
	Jul. 03, 2020USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net income attributable to non-controlling interest	$ 1,072
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 3, 2020	15,719
Change in fair value	8,184
Balance at July 3, 2020	$ 24,975

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2020	Jul. 03, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underwriters commission	$ 511
Number of stock options exercised (in shares)		0
Secondary Stock Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	2,760,000
Purchase price (in dollars per share)	$ 76
Proceeds from issuance of common stock	$ 209,760
Underwriters discounts	$ 11,015
Over-Allotment Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	360,000
Net proceeds from issuance of common stock	$ 198,234
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs		$ 20,523
Period for recognition of unrecognized stock-based compensation expense		2 years 10 months 20 days

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 2,076	$ 1,621	$ 3,997	$ 3,350
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	147	114	276	243
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	165	113	317	239
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	218	155	419	320
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 1,546	$ 1,239	$ 2,985	$ 2,548

Stockholders' Equity - Unvested

Stockholders' Equity - Unvested RSU Activity (Details) shares in Thousands	6 Months Ended
	Jul. 03, 2020$ / sharesshares
Number of shares outstanding
Granted (in shares) | shares	245
Forfeited (in shares) | shares	(8)
Vested (in shares) | shares	(190)
Unvested at end of period (in shares) | shares	474
Weighted-average grant date fair value
Granted (in usd per share) | $ / shares	$ 44.65
Forfeited (in usd per share) | $ / shares	47.75
Vested (in usd per share) | $ / shares	36.37
Unvested at end of period (in usd per share) | $ / shares	$ 48.20
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

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 3,204	$ 4,522	$ 4,124	$ 7,123
Effective tax rates	19.50%	16.20%	15.80%	14.60%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Income Tax Contingency [Line Items]
Federal statutory rate	21.00%	21.00%	21.00%	21.00%
Excess benefits related to exercise of awards	$ 646	$ 1,808	$ 686	$ 3,635

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 03, 2020	Jul. 03, 2020
Rental of Buildings
Related Party Transaction [Line Items]
Payments made under lease		$ 16
Purchase of Properties | Employees
Related Party Transaction [Line Items]
Payments made under lease		28
Founder and Minority Stockholder
Related Party Transaction [Line Items]
Payments made under lease	$ 48	96
SCA | Employees
Related Party Transaction [Line Items]
Payments made under lease	$ 112	$ 84

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Mar. 11, 2020	Jul. 03, 2020	Jun. 28, 2019	Jul. 03, 2020	Jun. 28, 2019
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)	100.00%
Federal statutory rate		21.00%	21.00%	21.00%	21.00%
Minimum
Business Acquisition [Line Items]
Useful life	5 years
Maximum
Business Acquisition [Line Items]
Useful life	10 years
SCA
Business Acquisition [Line Items]
Total consideration at closing	$ 329,531
Performance-based retention incentives	10,589
Cash performance-based retention incentive	9,283
Stock performance-based retention incentives	1,306
Business acquisition, executive compensation of acquiree management	1,750
Costs associated with performance-based incentives	1,493	$ 1,350
Acquisition cost	10,582
Transaction cost		$ 602		$ 602
Business acquisition, additional financing costs	6,622
Goodwill	192,215
Remaining net tax basis	$ 77,989

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	6 Months Ended
	Jul. 03, 2020	Jun. 28, 2019
Business Acquisition [Line Items]
Pro forma sales	$ 386,811	$ 394,700
Pro forma net income attributable to FOX stockholders	$ 28,664	$ 29,249
Pro forma basic earnings per share (in USD per share)	$ 0.74	$ 0.77
Pro forma diluted earnings per share (in USD per share)	$ 0.73	$ 0.75
Total SCA pre-tax income included in the condensed consolidated statements of income	$ 333
SCA
Business Acquisition [Line Items]
Pro forma sales	$ 26,597

Subsequent Events (Details)

Subsequent Events (Details) - SCA - USD ($) $ in Thousands	Jul. 22, 2020	Mar. 11, 2020	Nov. 30, 2017
Subsequent Event [Line Items]
Total consideration at closing		$ 329,531
Call option to acquire remaining interest			20.00%
Subsequent Event
Subsequent Event [Line Items]
Total consideration at closing	$ 24,975
Call option to acquire remaining interest	20.00%

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