Fox Factory Holding (FOXF) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	2055 Sugarloaf Circle, Suite 300
Entity Address, City or Town	Duluth
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30097
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
Entity Common Stock, Shares Outstanding		42,302,991
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001424929
Current Fiscal Year End Date	--12-29

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Current assets:
Cash and cash equivalents	$ 91,892	$ 145,250
Accounts receivable (net of allowances of $789 and $443 at March 31, 2023 and December 30, 2022, respectively)	195,313	200,440
Inventory	379,892	350,620
Prepaids and other current assets	214,572	101,364
Total current assets	881,669	797,674
Property, plant and equipment, net	210,304	202,215
Lease right-of-use assets	58,029	48,096
Deferred tax assets	56,739	57,339
Goodwill	380,906	323,978
Intangibles, net	226,083	178,980
Other assets	10,702	10,054
Total assets	1,824,432	1,618,336
Current liabilities:
Accounts payable	135,331	131,160
Accrued expenses	118,305	127,729
Total current liabilities	253,636	258,889
Line of credit	360,000	200,000
Other liabilities	46,549	38,061
Total liabilities	660,185	496,950
Commitments and contingencies (Refer to Note 9 - Commitments and Contingencies)
Stockholders’ equity
Preferred stock, $0.001 par value — 10,000 authorized and no shares issued or outstanding as of March 31, 2023 and December 30, 2022	0	0
Common stock, $0.001 par value — 90,000 authorized; 43,193 shares issued and 42,303 outstanding as of March 31, 2023; 43,160 shares issued and 42,270 outstanding as of December 30, 2022	42	42
Additional paid-in capital	359,785	356,239
Treasury stock, at cost; 890 common shares as of March 31, 2023 and December 30, 2022	(13,754)	(13,754)
Accumulated other comprehensive income	12,330	14,782
Retained earnings	805,844	764,077
Total stockholders’ equity	1,164,247	1,121,386
Total liabilities and stockholders’ equity	$ 1,824,432	$ 1,618,336

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 789	$ 443
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)	43,193,000	43,160,000
Common stock, shares outstanding (in shares)	42,303,000	42,270,000
Treasury stock, shares (in shares)	890,000	890,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Income Statement [Abstract]
Sales	$ 399,851	$ 377,977
Cost of sales	266,553	257,717
Gross profit	133,298	120,260
Operating expenses:
Sales and marketing	23,669	22,589
Research and development	15,282	12,642
General and administrative	33,761	25,567
Amortization of purchased intangibles	5,896	5,307
Total operating expenses	78,608	66,105
Income from operations	54,690	54,155
Interest and other expense, net:
Interest expense	3,521	1,977
Other expense, net	24	1,692
Interest and other expense, net	3,545	3,669
Income before income taxes	51,145	50,486
Provision for income taxes	9,378	2,436
Net income	$ 41,767	$ 48,050
Earnings per share:
Basic (in dollars per share)	$ 0.99	$ 1.14
Diluted (in dollars per share)	$ 0.98	$ 1.13
Weighted-average shares used to compute earnings per share:
Basic (in shares)	42,298	42,144
Diluted (in shares)	42,496	42,381

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 41,767	$ 48,050
Other comprehensive (loss) income
Interest rate swap, net of tax effects	(3,063)	5,811
Foreign currency translation adjustments, net of tax effects	611	(1,068)
Other comprehensive (loss) income	(2,452)	4,743
Comprehensive income	$ 39,315	$ 52,793

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity and Redeemable Non-controlling Interest - 3 months ended Mar. 31, 2023 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury	Additional paid-in capital	Accumulated other comprehensive income	Retained earnings
Beginning Balance (in shares) at Dec. 30, 2022	42,270	43,160	890
Beginning balance at Dec. 30, 2022	$ 1,121,386	$ 42	$ (13,754)	$ 356,239	$ 14,782	$ 764,077
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive (loss) income	$ (2,452)
Ending Balance (in shares) at Mar. 31, 2023	42,303

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
OPERATING ACTIVITIES:
Net income	$ 41,767	$ 48,050
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	13,315	11,897
Stock-based compensation	5,701	3,029
Amortization of loan fees	226	402
Amortization of deferred gains on prior swap settlements	(1,063)	(22)
Amortization of inventory fair value step-up	3,064	0
Deferred taxes	51	(10,083)
Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	9,350	(37,781)
Inventory	(8,588)	(37,467)
Income taxes	(3,973)	(4,982)
Prepaids and other assets	(112,220)	(171,286)
Accounts payable	(6,684)	58,639
Accrued expenses and other liabilities	(7,781)	(3,521)
Net cash used in operating activities	(66,835)	(143,125)
INVESTING ACTIVITIES:
Acquisitions of businesses	(130,918)	0
Acquisition of other assets	(2,300)	0
Purchases of property and equipment	(11,118)	(8,191)
Net cash used in investing activities	(144,336)	(8,191)
FINANCING ACTIVITIES:
Proceeds from issuance of debt, net of origination fees	190,000	109,336
Repayment of term debt	(30,000)	(66,484)
Repayment of term debt	0	(2,500)
Repurchases from stock compensation program, net	0	(900)
Proceeds from termination of swap agreement	(2,156)	(820)
Net cash provided by financing activities	157,844	38,632
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(31)	1,770
CHANGE IN CASH AND CASH EQUIVALENTS	(53,358)	(110,914)
CASH AND CASH EQUIVALENTS—Beginning of period	145,250	179,686
CASH AND CASH EQUIVALENTS—End of period	91,892	68,772
Interest and Income Taxes Paid [Abstract]
Income taxes	13,460	17,441
Cash paid for interest, net of capitalized interest	5,145	1,619
Cash paid for amounts included in the measurement of lease liabilities	2,764	2,713
Cash Flow, Noncash Operating Activities Disclosure [Abstract]
Right-of-use assets obtained in exchange for lease obligations	12,743	7,619
Capital expenditures included in accounts payable	$ 2,388	$ 4,406

Description of the Business, Ba

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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, and specialty vehicles and applications. 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 December 30, 2022 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 23, 2023. 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 Calendar - The Company operates on a 52-53 week fiscal year calendar. For 2023 and 2022, the Company's fiscal year will end or has ended on December 29, 2023 and December 30, 2022, respectively. The twelve month periods ended December 29, 2023 and December 30, 2022, will include or have included 52 weeks. The three month periods ended March 31, 2023 and April 1, 2022 each included 13 weeks. Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Summary of Significant Accounting Policies - There have been no changes to our significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended December 30, 2022, as filed with the SEC on February 23, 2023 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. Sales tax and other similar taxes are excluded from revenues. Revenues generated from upfit packages generally do not include the vehicle chassis, as the Company is not the principal in this arrangement and the automotive dealer purchases the chassis directly from the OEM. The Company is required to place a deposit on all vehicle chassis that the dealer purchases directly from the OEM, however that deposit is refunded when the chassis is sold through to the end customer. 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 revenues 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. Segments - The Company has determined that it has a single operating and reportable segment: manufacturing, sale and service of performance-defining products. The Company considers operating segments to be components of the Company in 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. Reclassifications - We have reclassified certain prior period amounts within our condensed consolidated statement of cash flows for the three months ended April 1, 2022 to conform to our current year presentation. 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 ongoing 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. 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 COVID-19 pandemic; government, social, business and other actions that have been and will be taken in response to the COVID-19 pandemic; and the effect of the COVID-19 pandemic on short- and long-term general economic conditions. In addition, heightened political tensions between China and Taiwan could negatively impact our business and operations. For example, our bike suspension manufacturing is located in Taiwan. We cannot assure you that any contentious situation between Taiwan and China will always resolve in maintaining the current status quo or remain peaceful. Relations between Taiwan and China, potential confrontations between the United States and China and other factors affecting military, political, social or economic conditions in Taiwan could have a material adverse effect on our business, our supply chain and our operations. Furthermore, during the first quarter of 2022, Russia commenced a military invasion of Ukraine, and the ensuing conflict has created disruption in the region and around the world. In addition, in response to this invasion, the United States and several European and Asian countries instated sanctions against Russia. The impact of the Russia invasion of Ukraine on the global economy, energy supplies and raw materials is uncertain but may prove to negatively impact the Company’s business and operations. Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board ("FASB") has issued Accounting Standards Codification ("ASC") 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, accrued liabilities and line of credit approximate their fair values due to their short-term nature. Amounts owed under the Company's Prior Credit Facility (as defined in Note 8 - Debt below) approximated fair value due to the variable interest rate features embedded in the term debt. Recent Accounting Pronouncements - In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. Under ASU 2021-08, an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The Company adopted this guidance in the first quarter of 2022. This adoption did not have a material impact on our financial statements. In September 2022, the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405): Disclosure of Supplier Finance Program Obligations. Under ASU 2022-04, the buyer in a supplier finance program is required to disclose sufficient information to allow a user of the financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. These amendments will be applied retrospectively to each period in which a balance sheet is presented, except for the disclosure of rollforward information, which will be applied prospectively. The Company adopted the interim disclosure requirements, as applicable, during the first quarter of 2023 and will adopt the annual disclosure requirements, except for the annual rollforward, in our 2023 Annual Report on Form 10-K. The Company expects to adopt the annual rollforward requirement in our 2024 Annual Report on Form 10-K. Refer to the "Bailment Pool Arrangements" section within Note 9 - Commitments and Contingencies for further details of this adoption.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table summarizes total sales by product category: For the three months ended March 31, 2023 April 1, 2022 Powered Vehicles $ 280,964 $ 208,107 Specialty Sports 118,887 169,870 Total sales $ 399,851 $ 377,977 The following table summarizes total sales by sales channel: For the three months ended March 31, 2023 April 1, 2022 OEM $ 217,661 $ 201,265 Aftermarket 182,190 176,712 Total sales $ 399,851 $ 377,977 The following table summarizes total sales generated by geographic location of the customer: For the three months ended March 31, 2023 April 1, 2022 North America $ 291,910 $ 233,959 Asia 42,128 60,017 Europe 61,197 78,534 Rest of the world 4,616 5,467 Total sales $ 399,851 $ 377,977

Inventory

Inventory	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following: March 31, December 30, 2023 2022 Raw materials $ 259,346 $ 247,441 Work-in-process 10,380 9,959 Finished goods 110,166 93,220 Total inventory $ 379,892 $ 350,620

Prepaids and Other Assets

Prepaids and Other Assets	3 Months Ended
	Mar. 31, 2023
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: March 31, December 30, 2023 2022 Prepaid chassis deposits $ 178,421 $ 74,013 Advanced payments and prepaid contracts 24,025 13,598 Other current assets 12,126 13,753 Total $ 214,572 $ 101,364

Property, Plant and Equipment,

Property, Plant and Equipment, net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consisted of the following: March 31, December 30, 2023 2022 Building and building improvements $ 74,061 $ 73,594 Information systems, office equipment and furniture 24,252 21,655 Internal-use computer software 31,491 30,290 Land and land improvements 14,499 14,493 Leasehold improvements 22,846 20,078 Machinery and manufacturing equipment 129,438 122,748 Transportation equipment 14,065 12,450 Total property, plant and equipment 310,652 295,308 Less: accumulated depreciation and amortization (100,348) (93,093) Total property, plant and equipment, net $ 210,304 $ 202,215 The Company’s long-lived assets by geographic location are as follows: March 31, December 30, 2023 2022 United States $ 174,901 $ 166,544 International 35,403 35,671 Total long-lived assets $ 210,304 $ 202,215

Leases

Leases	3 Months Ended
	Mar. 31, 2023
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 one 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 6 years and the weighted-average incremental borrowing rate was 2.67% as of March 31, 2023. Operating lease costs consisted of the following: For the three months ended March 31, 2023 April 1, 2022 Operating lease cost $ 3,098 $ 2,823 Other lease costs (1) 1,055 718 Total lease costs $ 4,153 $ 3,541 (1) Includes short-term leases and variable lease costs. The Company 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. Supplemental balance sheet information related to the Company's operating leases is as follows: Balance Sheet Classification March 31, 2023 Operating lease right-of-use assets Lease right-of-use assets $ 58,029 Current lease liabilities Accrued expenses $ 11,940 Non-current lease liabilities Other liabilities $ 45,798 Maturities of lease liabilities by fiscal year for the Company's operating leases are as follows: For fiscal year Total future payments 2023 (remaining nine months) $ 10,015 2024 13,078 2025 10,169 2026 8,522 2027 5,342 Thereafter 16,060 Total lease payments 63,186 Less: imputed interest (5,448) Present value of lease liabilities 57,738 Less: current portion (11,940) Lease liabilities less current portion $ 45,798

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following: March 31, December 30, 2023 2022 Payroll and related expenses $ 26,037 $ 38,193 Current portion of lease liabilities 11,940 10,314 Warranty 18,224 17,071 Income tax payable 36,786 40,701 Accrued sales rebate 10,225 8,693 Other accrued expenses 15,093 12,757 Total $ 118,305 $ 127,729 Activity related to warranties is as follows: For the three months ended March 31, 2023 April 1, 2022 Beginning warranty liability $ 17,071 $ 15,510 Charge to cost of sales 3,626 3,127 Fair value of warranty assumed in acquisition 100 — Costs incurred (2,573) (2,644) Ending warranty liability $ 18,224 $ 15,993

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Prior Credit Facility In June 2019, the Company entered into a credit facility with Bank of America and other named lenders, which was periodically amended and restated and/or amended. The credit facility was amended and restated on March 11, 2020, and further amended on June 19, 2020, and June 11, 2021 (as amended, the "Prior Credit Facility"). The Prior Credit Facility (which was terminated on April 5, 2022 and replaced with the 2022 Credit Facility (as discussed below)), would have matured on March 11, 2025, and provided a senior secured revolving line of credit with a borrowing capacity of $250,000 and a term loan of $400,000. The term loan was subject to quarterly amortization payments. 2022 Credit Facility On April 5, 2022, the Company entered into a new credit agreement with Wells Fargo Bank, National Association, and other named lenders (the "2022 Credit Facility"), and concurrently repaid in full and terminated the Prior Credit Facility. The 2022 Credit Facility, which matures on April 5, 2027, provides for revolving loans, swingline loans and letters of credit up to an aggregate amount of $650,000 . On April 5, 2022, the Company borrowed $475,000 under the 2022 Credit Facility, which was used to repay all outstanding amounts owed under the Prior Credit Facility and for general corporate purposes. Future advances under the 2022 Credit Facility will be used to finance working capital, capital expenditures and other general corporate purposes of the Company. To the extent not previously paid, all then-outstanding amounts under the 2022 Credit Facility are due and payable on the maturity date. The Company paid $1,980 in debt issuance costs in connection with the 2022 Credit Facility, which were allocated to the line of credit and amortized on a straight-line basis over the term of the facility. Additionally, the Company had $4,473 of remaining unamortized debt issuance costs related to the Prior Credit Facility. The Company expensed $1,927 of the remaining unamortized debt issuance costs and allocated $2,546 to the 2022 Credit Facility. The Company may borrow, prepay and re-borrow principal under the 2022 Credit Facility during its term. Advances under the 2022 Credit Facility can be either Adjusted Term Secured Overnight Financing Rate ("SOFR") loans or base rate loans. SOFR rate revolving loans bear interest on the outstanding principal amount thereof for each interest period at a rate per annum equal to Term SOFR for such calculation plus 0.10% plus a margin ranging from 1.00% to 2.00%. Base rate revolving loans bear interest on the outstanding principal amount thereof at a rate per annum equal to the highest of (i) Federal Funds Rate plus 0.50%, (ii) the rate of interest in effect for such day as publicly announced from time to time by the lender as its “prime rate”, and (iii) Adjusted Term SOFR rate for a one-month tenor plus 1.00%, subject to the interest rate floors set forth therein, plus a margin ranging from 0.00% to 1.00%. At March 31, 2023, the one-month SOFR and three-month SOFR rates were 4.63% and 4.51%, respectively. At March 31, 2023, our weighted-average interest rate on outstanding borrowing was 5.38%. The 2022 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 March 31, 2023. The following table summarizes the line of credit under the 2022 Credit Facility: March 31, December 30, 2023 2022 Amount outstanding $ 360,000 $ 200,000 Available borrowing capacity 290,000 $ 450,000 Total borrowing capacity $ 650,000 $ 650,000 Maturity date April 5, 2027 On June 11, 2021, the Company entered into a swap agreement (the "2021 Swap Agreement") to obtain a more favorable interest rate and to manage interest rate risk exposure. On April 5, 2022, the Company terminated its 2021 Swap Agreement and entered into a new interest rate swap agreement (the "2022 Swap Agreement"). Through the 2022 Swap Agreement, the Company hedges the variability of cash flows in interest payments associated with $100,000 of its variable rate debt. Refer to Note 10 - Derivatives and Hedging for further details of the 2022 Swap Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 by reason of 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 - From time to time, the Company is involved in legal proceedings that arise in the ordinary course of business. Although the Company cannot assure the outcome of any such legal proceedings, based on information currently available, management does not believe that the ultimate resolution of any pending matters, either individually or in the aggregate, will have a material adverse effect on the Company's financial condition, results of operations or cash flows. Bailment Pool Arrangements - The Company has relationships with several OEM partners, including General Motors ("GM"), Ford Motor Company ("Ford"), and Chrysler to obtain truck chassis. For Chrysler chassis purchases, the Company pays a cash deposit upon transfer of the chassis to the Company’s premises, and records the chassis within prepaids and other current assets on the Consolidated Balance Sheet until the chassis is transferred to the dealer customer’s floorplan, at which time the cash deposit is returned to the Company. For GM and Ford, the Company has entered into floorplan financing agreements with the OEM. The Company receives an allocation of chassis and pays interest expense on the allocated value of trucks based on the duration of time they are on the Company’s premises. Bailment ends when the vehicle is sold to an authorized dealer, or upon authorized return of the vehicle to the manufacturer. The Company does not pay a cash deposit to obtain GM and Ford chassis, and accordingly it does not recognize an asset or a liability related to these chassis. Interest payments made to manufacturer-affiliated finance companies are classified as operating activities in the Consolidated Statements of Cash Flows. At March 31, 2023, the Company had utilized $10,470 out of a maximum of $26,200 of Ford allocation and $37,881 out of a maximum of $100,000 GM allocation. The company paid $1,401 of interest expense related to chassis on hand, and received interest credits from Chrysler of $426 resulting in net floorplan interest expense of $975. 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, the Company exercised the Call Option and, pursuant to a stock purchase agreement with Flagship, Inc., the Company purchased the remaining 20% interest for $24,975 payable in a combination of stock and cash. The cash portion was settled in quarterly installment payments beginning in July 2020 through July 2022, which amounted to $6,556, $4,550 and $2,700 in 2020, 2021 and 2022, respectively. The Company paid $900 during the three months ended April 1, 2022. The Company had no remaining liability as of March 31, 2023. The stock portion of 136 shares were released from escrow on a quarterly basis starting January 2021 through July 2022. The Company released 19 shares of stock during the three months ended April 1, 2022. The Company had no remaining shares to be released as of March 31, 2023. The exercise of the Call Option effectively canceled the put option held by Flagship, Inc.

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is interest rate risk. The Company utilizes interest rate swaps to limit its exposure to interest rate risk by converting a portion of its floating-rate debt to a fixed-rate basis, thus reducing the impact of interest rate changes on future interest expense. Interest rate swaps involve the receipt of floating-rate amounts in exchange for fixed-rate interest payments based on the one-month London Interbank Offered Rate ("LIBOR") or SOFR over the lives of the agreements without an exchange of the underlying principal amounts. As of March 31, 2023 and December 30, 2022, the Company had the following interest rate swap contracts: March 31, 2023 December 30, 2022 Effective Date Termination Date Notional Amount Unrealized Gain in AOCI Unrealized Gain in AOCI September 2, 2020 June 11, 2021 $200,000 $ 168 $ 189 July 2, 2021 April 5, 2022 $200,000 8,138 9,180 April 5, 2022 April 5, 2027 $100,000 3,659 5,087 Total $ 11,965 $ 14,456 On June 11, 2021, the Company terminated its existing swap agreement (the "2020 Swap Agreement") and entered into an interest rate swap agreement (the "2021 Swap Agreement") with a notional amount of $200,000. On April 5, 2022, the Company terminated its 2021 Swap Agreement and entered into a new interest rate swap agreement (the "2022 Swap Agreement") with a notional amount of $100,000. The terminated 2020 and 2021 Swap Agreements resulted in unrealized gains of $324 and $12,270, respectively, at the termination dates that will continue to be accounted for in accumulated other comprehensive income and amortized into earnings over the term of the associated debt instrument. The 2022 Swap Agreement has a maturity date of April 5, 2027 and is indexed to a three-month Term SOFR (as defined in the 2022 Swap Agreement). The 2022 Swap Agreement met the criteria as a cash flow hedge under ASC 815, Derivatives and Hedging ("ASC 815"), and is recorded to other assets or other liabilities on the Condensed Consolidated Balance Sheets. Refer to Note 11 - Fair Value Measurements and Financial Instruments for additional information on determining the fair value. The unrealized gains or losses, after tax, will be recorded in accumulated other comprehensive income, a component of equity, and are expected to be reclassified into interest expense on the Condensed Consolidated Statements of Income when the forecasted transactions affect earnings. As required under ASC 815, the interest rate swap contracts’ effectiveness will be assessed on a quarterly basis using a quantitative regression analysis. The gains and losses, net of tax, related to the effective portion of derivative instruments designated as cash flow hedges recognized in accumulated other comprehensive income for the three months ended March 31, 2023 and April 1, 2022 were a loss of $3,063 and a gain of $5,811, respectively. Over the next twelve months, the Company expects to recognize $3,256 of the $11,965 of unrealized gains included in accumulated other comprehensive income related to the interest rate swap contracts.

Fair Value Measurements and Fin

Fair Value Measurements and Financial Instruments	3 Months Ended
	Mar. 31, 2023
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 and liabilities measured at fair value on a recurring basis as of the following periods: March 31, 2023 December 30, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Interest Rate Swap $ — $ 3,659 $ — $ 3,659 $ — $ 5,087 $ — $ 5,087 Total assets measured at fair value $ — $ 3,659 $ — $ 3,659 $ — $ 5,087 $ — $ 5,087 There were no transfers of assets or liabilities between Level 1, Level 2, and Level 3 categories of the fair value hierarchy during the three month period ended March 31, 2023. On June 11, 2021, the Company entered into the 2021 Swap Agreement to mitigate the cash flow risk associated with changes in interest rates on its variable rate debt. On April 5, 2022, the Company terminated its 2021 Swap Agreement and entered into the 2022 Swap Agreement. Refer to N ote 10 - Derivatives and Hedging for additional details of the agreement. In accordance with ASC 815, an interest rate swap contract is recognized as an asset or liability on the Condensed Consolidated Balance Sheets and is measured at fair value. The fair value was calculated utilizing Level 2 inputs.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plans The following table summarizes the allocation of stock-based compensation in the accompanying Condensed Consolidated Statements of Income: For the three months ended March 31, 2023 April 1, 2022 Cost of sales $ 242 $ 178 Sales and marketing 287 226 Research and development 240 228 General and administrative 4,932 2,397 Total $ 5,701 $ 3,029 The following table summarizes the activity for the Company's unvested RSUs for the three months ended March 31, 2023: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at December 30, 2022 297 $ 87.05 Granted 41 $ 119.13 Canceled (9) $ 88.24 Vested (26) $ 120.82 Unvested at March 31, 2023 304 $ 88.44 As of March 31, 2023, the Company had approximately $18,712 of unrecognized stock-based compensation expense related to RSUs, which will be recognized over the remaining weighted-average vesting period of approximately 1.91 years. During the three months ended March 31, 2023, the Company issued performance share units (“PSUs”) to certain executives that represent shares potentially issuable in the future. Issuance is based upon the Company's performance, over a 3 year performance period, on certain measures including return on invested capital and free cash flow. The PSUs vest only upon the achievement of the applicable performance goals for the performance period, and, depending on the actual achievement on the performance goals, the grantee may earn between 0% and 200% of the target PSUs. The Company considered it probable that the performance goals would be achieved, therefore the fair value of PSUs is calculated based on the stock price on the date of grant. The following table summarizes the activity for the Company's unvested PSUs for the three months ended March 31, 2023: Unvested PSUs Number of shares outstanding Weighted-average grant date fair value Unvested at December 30, 2022 48 $ 126.69 Granted 38 $ 119.02 Unvested at March 31, 2023 86 $ 123.29

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2023 April 1, 2022 Provision for income taxes $ 9,378 $ 2,436 Effective tax rates 18.3 % 4.8 % For the three months ended March 31, 2023, the difference between the Company's effective tax rate of 18.3% and the 21% federal statutory rate resulted primarily due to a lower tax rate on foreign derived intangible income. This benefit was partially offset by state and foreign withholding taxes. For the three months ended April 1, 2022, the difference between the Company's effective tax rate of 4.8% and the 21% federal statutory rate resulted primarily from the impact of U.S. tax regulations published by the U.S. Treasury and Internal Revenue Service on January 4, 2022. These regulations limited the amount of newly generated foreign taxes that are creditable against U.S income taxes which resulted in a release of the Company’s valuation allowance against foreign tax credits due to the Company's ability to use foreign tax credit carryforwards that had previously been reserved against. This benefit was partially offset by state taxes and other nondeductible expenses. We do not expect the results from any ongoing income tax audits to have a material impact on our consolidated financial condition, results of operations, or cash flows.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Agreements	Related Party Transactions On March 11, 2020, the Company acquired 100% of the issued and outstanding stock of SCA Performance Holdings, Inc. ("SCA"). The Company has transactions with an automotive dealership owned by a former owner of SCA, who was an employee of the Company. The Company purchased approximately $211 and $281 of parts and vehicles and sold approximately $132 and $457 of upfit packages to the dealership during the three months ended March 31, 2023 and April 1, 2022, respectively. The Company had $54 and $17 in accounts payable and $78 and $27 in accounts receivable as of March 31, 2023 and April 1, 2022 respectively, related to this dealership. As of March 31, 2023, the employee is no longer employed with the Company. On July 22, 2020, the Company, pursuant to a stock purchase agreement with Flagship, Inc., purchased the remaining 20% interest of FF US Holding Corp. for $24,975 payable in a combination of stock and cash. The cash portion was settled in quarterly installment payments through July 2022. Refer to Note 9 - Commitments and Contingencies for additional details of this agreement.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On February 17, 2023 the Company entered into a Securities Purchase Agreement with CWH Holdco, LLC (“CWH”), CWH Blocker Corp., (“Blocker”), Thompson Street Capital Partners V, L.P., and each other member of CWH to purchase all of the outstanding equity of Blocker, and thereafter Blocker acquired all of the outstanding equity interest of CWH. CWH is the parent company of Custom Wheel House, LLC ("Custom Wheel House"). Custom Wheel House is a designer, marketer, and distributor of high-performance wheels, performance off-road tires, and accessories, including the premier flagship brand Method Race Wheels. The Company believes that this acquisition will be complementary to its upfitting businesses and will help to expand its product offerings. The total purchase price of $130,918, net of cash acquired, was allocated to net assets of $21,001, identified intangible assets of $53,000, and goodwill of $56,917. This acquisition was financed through a combination of cash on hand and the Company's existing 2022 Credit Facility. The Company's valuation is preliminary and subject to the Company's validation of the valuation of intangible assets, related deferred taxes, and finalization of working capital adjustments. The Company expects to amortize the acquired trade name, customer relationship and core technology assets over their expected useful lives that range between two seven The results of operations for Custom Wheel House have been included in the Company's Consolidated Statements of Income since the closing date of the acquisition on March 3, 2023. The total revenue and net loss from operations included since the date of acquisition through March 31, 2023 amounted to $6,937 and $2,039, respectively. This purchase was accounted for as a business combination.

Description of the Business, _2

Description of the Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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 December 30, 2022 included in the Company’s Annual Report on Form 10-K, as filed with the SEC on February 23, 2023. 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	Fiscal Year Calendar - The Company operates on a 52-53 week fiscal year calendar. For 2023 and 2022, the Company's fiscal year will end or has ended on December 29, 2023 and December 30, 2022, respectively. The twelve month periods ended December 29, 2023 and December 30, 2022, will include or have included 52 weeks. The three month periods ended March 31, 2023 and April 1, 2022 each included 13 weeks.
Principles of Consolidation	Principles of Consolidation - These condensed consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition - Revenues are generated from the sale of performance-defining products and systems to customers worldwide. The Company’s performance-defining products and systems are solutions that improve performance of powered vehicles and bikes. Powered vehicles include side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, and motorcycles. Revenue is measured based on the consideration specified in a contract with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer, generally at the time of shipment. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, the Company may also enter into master agreements. Sales tax and other similar taxes are excluded from revenues. Revenues generated from upfit packages generally do not include the vehicle chassis, as the Company is not the principal in this arrangement and the automotive dealer purchases the chassis directly from the OEM. The Company is required to place a deposit on all vehicle chassis that the dealer purchases directly from the OEM, however that deposit is refunded when the chassis is sold through to the end customer. 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 revenues 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.
Segments	Segments - The Company has determined that it has a single operating and reportable segment: manufacturing, sale and service of performance-defining products. The Company considers operating segments to be components of the Company in 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.
Reclassifications	Reclassifications - We have reclassified certain prior period amounts within our condensed consolidated statement of cash flows for the three months ended April 1, 2022 to conform to our current year presentation.
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 ongoing 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. 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 COVID-19 pandemic; government, social, business and other actions that have been and will be taken in response to the COVID-19 pandemic; and the effect of the COVID-19 pandemic on short- and long-term general economic conditions. In addition, heightened political tensions between China and Taiwan could negatively impact our business and operations. For example, our bike suspension manufacturing is located in Taiwan. We cannot assure you that any contentious situation between Taiwan and China will always resolve in maintaining the current status quo or remain peaceful. Relations between Taiwan and China, potential confrontations between the United States and China and other factors affecting military, political, social or economic conditions in Taiwan could have a material adverse effect on our business, our supply chain and our operations. Furthermore, during the first quarter of 2022, Russia commenced a military invasion of Ukraine, and the ensuing conflict has created disruption in the region and around the world. In addition, in response to this invasion, the United States and several European and Asian countries instated sanctions against Russia. The impact of the Russia invasion of Ukraine on the global economy, energy supplies and raw materials is uncertain but may prove to negatively impact the Company’s business and operations.
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments - The Financial Accounting Standards Board ("FASB") has issued Accounting Standards Codification ("ASC") 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 October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. Under ASU 2021-08, an acquirer must recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The Company adopted this guidance in the first quarter of 2022. This adoption did not have a material impact on our financial statements.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenues	The following table summarizes total sales by product category: For the three months ended March 31, 2023 April 1, 2022 Powered Vehicles $ 280,964 $ 208,107 Specialty Sports 118,887 169,870 Total sales $ 399,851 $ 377,977 The following table summarizes total sales by sales channel: For the three months ended March 31, 2023 April 1, 2022 OEM $ 217,661 $ 201,265 Aftermarket 182,190 176,712 Total sales $ 399,851 $ 377,977 The following table summarizes total sales generated by geographic location of the customer: For the three months ended March 31, 2023 April 1, 2022 North America $ 291,910 $ 233,959 Asia 42,128 60,017 Europe 61,197 78,534 Rest of the world 4,616 5,467 Total sales $ 399,851 $ 377,977

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following: March 31, December 30, 2023 2022 Raw materials $ 259,346 $ 247,441 Work-in-process 10,380 9,959 Finished goods 110,166 93,220 Total inventory $ 379,892 $ 350,620

Prepaids and Other Current Asse

Prepaids and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Prepaids and other current assets consisted of the following: March 31, December 30, 2023 2022 Prepaid chassis deposits $ 178,421 $ 74,013 Advanced payments and prepaid contracts 24,025 13,598 Other current assets 12,126 13,753 Total $ 214,572 $ 101,364

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, plant and equipment, net consisted of the following: March 31, December 30, 2023 2022 Building and building improvements $ 74,061 $ 73,594 Information systems, office equipment and furniture 24,252 21,655 Internal-use computer software 31,491 30,290 Land and land improvements 14,499 14,493 Leasehold improvements 22,846 20,078 Machinery and manufacturing equipment 129,438 122,748 Transportation equipment 14,065 12,450 Total property, plant and equipment 310,652 295,308 Less: accumulated depreciation and amortization (100,348) (93,093) Total property, plant and equipment, net $ 210,304 $ 202,215
Long-lived Assets by Geographic Location	The Company’s long-lived assets by geographic location are as follows: March 31, December 30, 2023 2022 United States $ 174,901 $ 166,544 International 35,403 35,671 Total long-lived assets $ 210,304 $ 202,215

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Lease Costs	Operating lease costs consisted of the following: For the three months ended March 31, 2023 April 1, 2022 Operating lease cost $ 3,098 $ 2,823 Other lease costs (1) 1,055 718 Total lease costs $ 4,153 $ 3,541 (1) Includes short-term leases and variable lease costs. The Company 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.
Supplemental Balance Sheet Disclosure	Supplemental balance sheet information related to the Company's operating leases is as follows: Balance Sheet Classification March 31, 2023 Operating lease right-of-use assets Lease right-of-use assets $ 58,029 Current lease liabilities Accrued expenses $ 11,940 Non-current lease liabilities Other liabilities $ 45,798
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 2023 (remaining nine months) $ 10,015 2024 13,078 2025 10,169 2026 8,522 2027 5,342 Thereafter 16,060 Total lease payments 63,186 Less: imputed interest (5,448) Present value of lease liabilities 57,738 Less: current portion (11,940) Lease liabilities less current portion $ 45,798

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: March 31, December 30, 2023 2022 Payroll and related expenses $ 26,037 $ 38,193 Current portion of lease liabilities 11,940 10,314 Warranty 18,224 17,071 Income tax payable 36,786 40,701 Accrued sales rebate 10,225 8,693 Other accrued expenses 15,093 12,757 Total $ 118,305 $ 127,729
Activity Related to Warranties	Activity related to warranties is as follows: For the three months ended March 31, 2023 April 1, 2022 Beginning warranty liability $ 17,071 $ 15,510 Charge to cost of sales 3,626 3,127 Fair value of warranty assumed in acquisition 100 — Costs incurred (2,573) (2,644) Ending warranty liability $ 18,224 $ 15,993

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Summary of line of credit under 2022 Credit Facility	The following table summarizes the line of credit under the 2022 Credit Facility: March 31, December 30, 2023 2022 Amount outstanding $ 360,000 $ 200,000 Available borrowing capacity 290,000 $ 450,000 Total borrowing capacity $ 650,000 $ 650,000 Maturity date April 5, 2027

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	As of March 31, 2023 and December 30, 2022, the Company had the following interest rate swap contracts: March 31, 2023 December 30, 2022 Effective Date Termination Date Notional Amount Unrealized Gain in AOCI Unrealized Gain in AOCI September 2, 2020 June 11, 2021 $200,000 $ 168 $ 189 July 2, 2021 April 5, 2022 $200,000 8,138 9,180 April 5, 2022 April 5, 2027 $100,000 3,659 5,087 Total $ 11,965 $ 14,456

Fair Value Measurements and F_2

Fair Value Measurements and Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Liabilities Measured at Fair Value on Recurring Basis	The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the following periods: March 31, 2023 December 30, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Interest Rate Swap $ — $ 3,659 $ — $ 3,659 $ — $ 5,087 $ — $ 5,087 Total assets measured at fair value $ — $ 3,659 $ — $ 3,659 $ — $ 5,087 $ — $ 5,087

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Allocation	The following table summarizes the allocation of stock-based compensation in the accompanying Condensed Consolidated Statements of Income: For the three months ended March 31, 2023 April 1, 2022 Cost of sales $ 242 $ 178 Sales and marketing 287 226 Research and development 240 228 General and administrative 4,932 2,397 Total $ 5,701 $ 3,029
Summary of Unvested Restricted Stock Units (RSU) Activity	The following table summarizes the activity for the Company's unvested RSUs for the three months ended March 31, 2023: Unvested RSUs Number of shares outstanding Weighted-average grant date fair value Unvested at December 30, 2022 297 $ 87.05 Granted 41 $ 119.13 Canceled (9) $ 88.24 Vested (26) $ 120.82 Unvested at March 31, 2023 304 $ 88.44
Summary of Unvested PSUs Activity	The following table summarizes the activity for the Company's unvested PSUs for the three months ended March 31, 2023: Unvested PSUs Number of shares outstanding Weighted-average grant date fair value Unvested at December 30, 2022 48 $ 126.69 Granted 38 $ 119.02 Unvested at March 31, 2023 86 $ 123.29

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	For the three months ended March 31, 2023 April 1, 2022 Provision for income taxes $ 9,378 $ 2,436 Effective tax rates 18.3 % 4.8 %

Revenues - Sales by Product Cat

Revenues - Sales by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Disaggregation of Revenue [Line Items]
Total sales	$ 399,851	$ 377,977
Powered Vehicles
Disaggregation of Revenue [Line Items]
Total sales	280,964	208,107
Specialty Sports
Disaggregation of Revenue [Line Items]
Total sales	$ 118,887	$ 169,870

Revenues - Sales by Sales Chann

Revenues - Sales by Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Disaggregation of Revenue [Line Items]
Total sales	$ 399,851	$ 377,977
OEM
Disaggregation of Revenue [Line Items]
Total sales	217,661	201,265
Aftermarket
Disaggregation of Revenue [Line Items]
Total sales	$ 182,190	$ 176,712

Revenues - Sales by Geographic

Revenues - Sales by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Disaggregation of Revenue [Line Items]
Total sales	$ 399,851	$ 377,977
North America
Disaggregation of Revenue [Line Items]
Total sales	291,910	233,959
Asia
Disaggregation of Revenue [Line Items]
Total sales	42,128	60,017
Europe
Disaggregation of Revenue [Line Items]
Total sales	61,197	78,534
Rest of the world
Disaggregation of Revenue [Line Items]
Total sales	$ 4,616	$ 5,467

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 259,346	$ 247,441
Work-in-process	10,380	9,959
Finished goods	110,166	93,220
Total inventory	$ 379,892	$ 350,620

Prepaids and Other Current As_2

Prepaids and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid chassis deposits	$ 178,421	$ 74,013
Advanced payments and prepaid contracts	24,025	13,598
Other current assets	12,126	13,753
Total	$ 214,572	$ 101,364

Property, Plant and Equipment_3

Property, Plant and Equipment, net - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 310,652	$ 295,308
Less: accumulated depreciation and amortization	(100,348)	(93,093)
Total property, plant and equipment, net	210,304	202,215
Building and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	74,061	73,594
Information systems, office equipment and furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	24,252	21,655
Internal-use computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	31,491	30,290
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	14,499	14,493
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	22,846	20,078
Machinery and manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	129,438	122,748
Transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 14,065	$ 12,450

Property, Plant and Equipment_4

Property, Plant and Equipment, net - Long-lived Assets by Geographic Location (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 210,304	$ 202,215
United States
Property, Plant and Equipment [Line Items]
Total long-lived assets	174,901	166,544
International
Property, Plant and Equipment [Line Items]
Total long-lived assets	$ 35,403	$ 35,671

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Renewal term	11 years
Option to terminate, term	1 year
Weighted-average remaining lease term	6 years
Weighted-average incremental borrowing rate	2.67%
Minimum
Lessee, Lease, Description [Line Items]
Contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Contract term	11 years

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Leases [Abstract]
Operating lease cost	$ 3,098	$ 2,823
Other lease costs	1,055	718
Total lease costs	$ 4,153	$ 3,541

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 58,029	$ 48,096
Current lease liabilities	11,940	$ 10,314
Non-current lease liabilities	$ 45,798

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Leases [Abstract]
2023 (remaining nine months)	$ 10,015
2024	13,078
2025	10,169
2026	8,522
2027	5,342
Thereafter	16,060
Total lease payments	63,186
Less: imputed interest	(5,448)
Present value of lease liabilities	57,738
Less: current portion	(11,940)	$ (10,314)
Lease liabilities less current portion	$ 45,798

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expense Components (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022	Apr. 01, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll and related expenses	$ 26,037	$ 38,193
Current portion of lease liabilities	11,940	10,314
Warranty	18,224	17,071	$ 15,993	$ 15,510
Income tax payable	36,786	40,701
Accrued sales rebate	10,225	8,693
Other accrued expenses	15,093	12,757
Accrued expenses	$ 118,305	$ 127,729

Accrued Expenses - Activity Rel

Accrued Expenses - Activity Related to Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning warranty liability	$ 17,071	$ 15,510
Charge to cost of sales	3,626	3,127
Fair value of warranty assumed in acquisition	100	0
Costs incurred	(2,573)	(2,644)
Ending warranty liability	$ 18,224	$ 15,993

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 05, 2022	Mar. 31, 2023	Dec. 30, 2022	Jun. 30, 2019
Debt Instrument [Line Items]
Credit facility				$ 250,000
Debt issuance costs	$ 1,980
Unamortized debt issuance costs	4,473	$ 1,927
Weighted average interest rate on outstanding borrowings		5.38%
Interest rate swap
Debt Instrument [Line Items]
Amount of interest rate swap	$ 100,000
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		4.63%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2%
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Secured Overnight Financing Rate (SOFR) | Three-Month Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		4.51%
Term Loan
Debt Instrument [Line Items]
Term loan amount				$ 400,000
Line of Credit
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 475,000
Unamortized debt issuance costs		$ 2,546
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility		$ 650,000	$ 650,000
Revolving Credit Facility | Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1%
Revolving Credit Facility | Line of Credit | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0%
Revolving Credit Facility | Line of Credit | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1%
Letter of Credit
Debt Instrument [Line Items]
Credit facility	$ 650,000

Debt - Summary of Amended and R

Debt - Summary of Amended and Restated Credit Facility (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022	Jun. 30, 2019
Debt Instrument [Line Items]
Amount outstanding	$ 360,000	$ 200,000
Total borrowing capacity			$ 250,000
Revolving Credit Facility
Debt Instrument [Line Items]
Amount outstanding	360,000	200,000
Available borrowing capacity	290,000	450,000
Total borrowing capacity	$ 650,000	$ 650,000

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022	Jul. 22, 2020	Nov. 30, 2017
Loss Contingencies [Line Items]
Bailment pool arrangement, interest expense	$ 1,401
Bailment pool arrangement, interest credit	426
Bailment pool arrangement, net interest expense	975
Installment payment, 2020	6,556
Installment payment, 2021	4,550
Installment payment, 2022	2,700
Payments for Repurchase of Redeemable Noncontrolling Interest	$ 0	$ 900
Shares held in escrow (in shares)	136,000
Ford
Loss Contingencies [Line Items]
Bailment pool arrangement, allocation	$ 10,470
Bailment pool arrangement, maximum allocation	26,200
General Motors
Loss Contingencies [Line Items]
Bailment pool arrangement, allocation	37,881
Bailment pool arrangement, maximum allocation	$ 100,000
SCA
Loss Contingencies [Line Items]
Call option to acquire remaining interest			20%	20%

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Interest Rate Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022	Jun. 11, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain in AOCI	$ 11,965	$ 14,456
Interest Rate Swap September 2020 To June 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	200,000
Unrealized Gain in AOCI	168	189	$ 324
Interest Rate Swap July 2021 To March 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	200,000
Unrealized Gain in AOCI	8,138	9,180	$ 12,270
Interest Rate Swap April 2022 to April 2027
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount	100,000
Unrealized Gain in AOCI	$ 3,659	$ 5,087

Derivatives and Hedging (Detail

Derivatives and Hedging (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022	Dec. 30, 2022	Apr. 05, 2022	Jun. 11, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gain in AOCI on terminated swap	$ 11,965		$ 14,456
Other comprehensive income (loss), derivatives gain (loss)	3,063	$ (5,811)
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other comprehensive income (loss), derivatives gain (loss)	(3,063)	$ (5,811)
Losses to be reclassified over the next twelve months	3,256
Amount of interest rate swap				$ 100,000
Interest Rate Swap July 2021 To March 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount terminated					$ 200,000
Unrealized gain in AOCI on terminated swap	8,138		9,180		12,270
Interest Rate Swap September 2020 To June 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized gain in AOCI on terminated swap	$ 168		$ 189		$ 324

Fair Value Measurements and F_3

Fair Value Measurements and Financial Instruments - Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets measured at fair value	$ 3,659	$ 5,087
Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap, asset	3,659	5,087
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets measured at fair value	0	0
Level 1 | Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap, asset	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets measured at fair value	3,659	5,087
Level 2 | Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap, asset	3,659	5,087
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets measured at fair value	0	0
Level 3 | Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap, asset	$ 0	$ 0

Stockholders' Equity - Narrtive

Stockholders' Equity - Narrtive (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 5,701	$ 3,029
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs	$ 18,712
Period for recognition of unrecognized stock-based compensation expense	1 year 10 months 28 days
PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense related to RSUs	$ 14,891
Period for recognition of unrecognized stock-based compensation expense	2 years 29 days
PSU | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance goal, percentage	0%
PSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3
Performance goal, percentage	200%

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 5,701	$ 3,029
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	242	178
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	287	226
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	240	228
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 4,932	$ 2,397

Stockholders' Equity - Unvested

Stockholders' Equity - Unvested RSU Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of shares outstanding
Granted (in shares) | shares	41,000
Canceled (in shares) | shares	(9,000)
Vested (in shares) | shares	(26,000)
Unvested at end of period (in shares) | shares	304,000
Weighted-average grant date fair value
Granted (in usd per share) | $ / shares	$ 119.13
Forfeited (in usd per share) | $ / shares	88.24
Vested (in usd per share) | $ / shares	120.82
Unvested at end of period (in usd per share) | $ / shares	$ 88.44
RSUs
Number of shares outstanding
Unvested at beginning of period (in shares) | shares	297,000
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) | $ / shares	$ 87.05

Stockholders' Equity - Unvest_2

Stockholders' Equity - Unvested PSU Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of shares outstanding
Granted (in shares) | shares	41,000
Unvested at end of period (in shares) | shares	304,000
Weighted-average grant date fair value
Granted (in usd per share) | $ / shares	$ 119.13
Unvested at end of period (in usd per share) | $ / shares	$ 88.44
PSU
Number of shares outstanding
Unvested at beginning of period (in shares) | shares	48,000
Granted (in shares) | shares	38,000
Unvested at end of period (in shares) | shares	86,000
Weighted-average grant date fair value
Unvested at beginning of period (in usd per share) | $ / shares	$ 126.69
Granted (in usd per share) | $ / shares	119.02
Unvested at end of period (in usd per share) | $ / shares	$ 123.29

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 9,378	$ 2,436
Effective tax rates	18.30%	4.80%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Income Tax Disclosure [Abstract]
Effective tax rates	18.30%	4.80%
Federal statutory rate	21%

Related Party Transactions (Det

Related Party Transactions (Details) - SCA - USD ($) $ in Thousands		3 Months Ended
	Jul. 22, 2020	Mar. 31, 2023	Apr. 01, 2022
Related Party Transaction [Line Items]
Purchase of vehicle parts		$ 211	$ 281
Sale of unfit packages		132	457
Related parties, accounts payable		54	17
Related parties, accounts receivable		$ 78	$ 27
Call option to acquire remaining interest	20%
Business combination, consideration transferred	$ 24,975

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Feb. 17, 2023	Mar. 31, 2023	Apr. 01, 2022	Dec. 30, 2022
Business Acquisition [Line Items]
Purchase price, net of cash		$ 130,918	$ 0
Goodwill		380,906		$ 323,978
CWH Blocker Corp
Business Acquisition [Line Items]
Purchase price, net of cash	$ 130,918
Net assets	21,001
Identifiable intangible assets	53,000
Goodwill	$ 56,917
Revenue		6,937
Net loss		$ (2,039)
CWH Blocker Corp | Minimum
Business Acquisition [Line Items]
Useful life	2 years
CWH Blocker Corp | Maximum
Business Acquisition [Line Items]
Useful life	7 years

Uncategorized Items - foxf-2023

Label	Element	Value
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 1,164,247,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	894,082,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	949,084,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	41,767,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	48,050,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	(820,000)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	(2,155,000)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	5,701,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3,029,000
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	42,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	42,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 42,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	43,010,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	43,193,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	43,039,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	33,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	29,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 4,876,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	12,330,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	9,619,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	4,743,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	(2,452,000)
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	359,785,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	346,328,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	344,119,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	(2,155,000)
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	(820,000)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	5,701,000
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3,029,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	558,799,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	606,849,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	805,844,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	48,050,000
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	41,767,000
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	(13,754,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	(13,754,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ (13,754,000)
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	890,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	890,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	890,000