The Middleby Corporation (MIDD) 10-Q 11 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 01, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 01, 2023
Document Transition Report	false
Entity File Number	1-9973
Entity Registrant Name	THE MIDDLEBY CORPORATION
Entity Central Index Key	0000769520
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3352497
Entity Address, Address Line One	1400 Toastmaster Drive,
Entity Address, City or Town	Elgin,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60120
City Area Code	(847)
Local Phone Number	741-3300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	MIDD
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		53,515,206
Entity Small Business	false
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 156,524	$ 162,001
Accounts receivable, net of reserve for doubtful accounts of $22,137 and $20,295	652,949	631,134
Inventories, net	1,116,364	1,077,729
Prepaid expenses and other	123,808	125,640
Prepaid Taxes	10,874	9,492
Total current assets	2,060,519	2,005,996
Property, plant and equipment, net of accumulated depreciation of $307,662 and $299,572	461,728	443,528
Goodwill	2,429,167	2,411,834
Other intangibles	1,791,062	1,794,232
Long-term deferred tax assets	7,042	6,738
Other assets	206,619	212,538
Total assets	6,956,137	6,874,866
Current liabilities:
Current maturities of long-term debt	44,247	45,583
Accounts payable	282,032	271,374
Accrued expenses	664,030	671,327
Total current liabilities	990,309	988,284
Long-term debt	2,688,417	2,676,741
Deferred Income Tax Liabilities, Net	218,377	220,204
Liability, Defined Benefit Pension Plan, Noncurrent	11,789	14,948
Other non-current liabilities	185,046	176,942
Stockholders' equity:
Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 63,840,330 and 63,508,855 shares issued in 2023 and 2022, respectively	147	147
Cumulative Effect Period of Adoption ASU 2020-06, Paid-in capital	425,781	408,376
Treasury stock, at cost; 10,288,676 and 9,814,480 shares in 2023 and 2022	(899,047)	(831,176)
Cumulative Effect Period of Adoptions ASU 2020-06, Retained earnings	3,597,961	3,498,872
Accumulated other comprehensive loss	(262,643)	(278,472)
Total stockholders' equity	2,862,199	2,797,747
Total liabilities and stockholders' equity	$ 6,956,137	$ 6,874,866

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Accounts receivable, reserve for doubtful accounts	$ 22,137	$ 20,295
Property, plant and equipment, accumulated depreciation	307,662	299,572
Finite-Lived Intangible Assets, Accumulated Amortization	$ 525,926	$ 503,034
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common stock, shares issued	63,840,330	63,508,855
Treasury stock, shares	10,288,676	9,814,480

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended
		Apr. 01, 2023	Apr. 02, 2022
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,007,396	$ 994,676
Cost of sales		628,661	664,166
Gross profit		378,735	330,510
Selling, General and Administrative Expense		215,407	206,071
Restructuring Charges		2,306	1,875
Income from operations	[1],[2]	161,022	122,564
Net interest expense and deferred financing amortization, net		29,462	17,654
Net periodic pension benefit (other than service costs)		(2,251)	(11,516)
Other (income) expense, net		1,896	4,061
Earnings before income taxes		131,915	112,365
Provision for income taxes		32,826	26,610
Net earnings		$ 99,089	$ 85,755
Net earnings per share:
Earnings Per Share, Basic		$ 1.85	$ 1.57
Earnings Per Share, Diluted		$ 1.82	$ 1.52
Weighted average number of shares
Basic (in shares)		53,594,000	54,669,000
Dilutive common stock equivalents (in shares)		783,000	1,694,000
Diluted (in shares)		54,377,000	56,363,000
Comprehensive income		$ 114,918	$ 97,272
[1]Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.[2]Restructuring expenses are allocated in operating income by segment. (4) Includes depreciation on right of use assets.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Statement - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Treasury Stock, Common	Retained Earnings	Accumulated Other Comprehensive Income (loss)
Balance, Beginning at Jan. 01, 2022	$ 2,494,276	$ 147	$ 357,309	$ (566,399)	$ 3,062,303	$ (359,084)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	85,755	0	0	0	85,755	0
Currency translation adjustment	(27,191)	0	0	0	0	(27,191)
Change in unrecognized pension benefit costs, net of tax	6,244	0	0	0	0	6,244
Unrealized gain (loss) on interest rate swamp, net of tax	31,116	0	0	0	0	31,116
Unrealized gain on certain investments, net of tax of $449	1,348	0	0	0	0	1,348
Stock compensation	13,723	0	13,723	0	0	0
Purchase of treasury stock	(170,013)	0	0	(170,013)	0	0
Purchase of capped calls	(7,291)	0	(7,291)	0	0	0
Balance, Ending at Apr. 02, 2022	2,427,967	147	363,741	(736,412)	3,148,058	(347,567)
Balance, Beginning at Dec. 31, 2022	2,797,747	147	408,376	(831,176)	3,498,872	(278,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	99,089	0	0	0	99,089	0
Currency translation adjustment	26,959	0	0	0	0	26,959
Change in unrecognized pension benefit costs, net of tax	(2,809)	0	0	0	0	(2,809)
Unrealized gain (loss) on interest rate swamp, net of tax	(8,321)	0	0	0	0	(8,321)
Unrealized gain on certain investments, net of tax of $449	0
Stock compensation	12,232	0	12,232	0	0	0
Stock issuance	5,173	0	5,173	0	0	0
Purchase of treasury stock	(67,871)	0	0	(67,871)	0	0
Balance, Ending at Apr. 01, 2023	$ 2,862,199	$ 147	$ 425,781	$ (899,047)	$ 3,597,961	$ (262,643)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	$ (76)	$ 987
Unrealized gain on interest rate swap, tax	$ (2,910)	10,892
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax		449
Adjustments to Additional Paid in Capital, Purchase of Capped Calls, Tax		$ (2,364)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Cash flows from operating activities--
Net earnings	$ 99,089	$ 85,755
Adjustments to reconcile net earnings to net cash provided by operating activities--
Depreciation and amortization expense	34,947	46,742
Non-cash share-based compensation	12,232	13,723
Deferred income taxes	(33)	8,586
Net periodic pension benefit (other than service costs)	(2,251)	(11,516)
Other Noncash Income (Expense)	6,918	(6,173)
Changes in assets and liabilities, net of acquisitions
Accounts receivable, net	(17,625)	(55,305)
Inventories, net	(30,825)	(88,474)
Prepaid expenses and other assets	4,555	(3,926)
Accounts payable	8,557	1,235
Accrued expenses and other liabilities	(23,562)	(5,991)
Net cash provided by operating activities	92,002	(15,344)
Cash flows from investing activities--
Additions to property and equipment	(25,485)	(14,497)
Payments to Acquire Intangible Assets	(1,625)	(240)
Acquisitions, net of cash acquired	(9,340)	(9,389)
Net cash (used in) investing activities	(36,450)	(24,126)
Cash flows from financing activities--
Proceeds under Credit Facility	195,000	365,000
Repayments under Credit Facility	190,875	177,250
Premiums paid for capped call	0	(9,655)
Net proceeds under international credit facilities	197	756
Repurchase of treasury stock	(67,648)	(170,013)
Other, net	(51)	(117)
Net cash (used in) provided by financing activities	(63,377)	8,721
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	2,348	(2,937)
Changes in cash and cash equivalents--
Net (decrease) increase in cash and cash equivalents	(5,477)	(33,686)
Cash and cash equivalents at beginning of year	162,001	180,362
Cash and cash equivalents at end of quarter	156,524	146,676
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Stock issuance related to acquisition and purchase of intangible assets	$ 5,173	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies a) Basis of Presentation The condensed consolidated financial statements have been prepared by The Middleby Corporation (the "company" or “Middleby”), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements are unaudited and certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the company believes that the disclosures are adequate to make the information not misleading. These financial statements should be read in conjunction with the financial statements and related notes contained in the company's 2022 Form 10-K. The company’s interim results are not necessarily indicative of future full year results for the fiscal year 2023. Certain reclassifications of prior year data have been made to conform with current year reporting. In the opinion of management, the financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of the company as of April 1, 2023 and December 31, 2022, the results of operations for the three months ended April 1, 2023 and April 2, 2022, cash flows for the three months ended April 1, 2023 and April 2, 2022 and statement of stockholders' equity for the three months ended April 1, 2023 and April 2, 2022. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not limited to, allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves, non-cash share-based compensation and post-retirement obligations. Actual results could differ from the company's estimates. b) Non-Cash Share-Based Compensation The company estimates the fair value of market-based stock awards and stock options at the time of grant and recognizes compensation cost over the vesting period of the awards and options. Non-cash share-based compensation expense was $12.2 million and $13.7 million for the three months period ended April 1, 2023 and April 2, 2022, respectively. c) Income Taxes A tax provision of $32.8 million, at an effective rate of 24.9%, was recorded during the three months period ended April 1, 2023, as compared to a $26.6 million tax provision at a 23.7% effective rate in the prior year period. The effective tax rate for the three months period ended April 1, 2023 is higher than the comparable year rate primarily due to an increase in the UK income tax from 19% in 2022 to a 23.5% blended rate in 2023 . On August 16, 2022, President Biden signed the Inflation Reduction Act ("IRA") into law. The IRA enacted a 15% corporate minimum tax effective in 2023, a 1% tax on share repurchases after December 31, 2022, and created and extended certain tax-related energy incentives. We currently do not expect the tax-related provisions of the IRA to have a material impact on our financial results. d) Fair Value Measures Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3 – Unobservable inputs based the company's own assumptions. The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands): Fair Value Fair Value Fair Value Total As of April 1, 2023 Financial Assets: Interest rate swaps $ — $ 53,754 $ — $ 53,754 Financial Liabilities: Contingent consideration $ — $ — $ 49,874 $ 49,874 Foreign exchange derivative contracts $ — $ 308 $ — $ 308 As of December 31, 2022 Financial Assets: Interest rate swaps $ — $ 64,985 $ — $ 64,985 Financial Liabilities: Contingent consideration $ — $ — $ 47,242 $ 47,242 Foreign exchange derivative contracts $ — $ 474 $ — $ 474 The contingent consideration as of April 1, 2023 and December 31, 2022, relates to the earnout provisions recorded in conjunction with various purchase agreements. The earnout provisions associated with these acquisitions are based upon performance measurements related to sales and earnings, as defined in the respective purchase agreement. On a quarterly basis, the company assesses the projected results for each of the acquisitions in comparison to the earnout targets and adjusts the liability accordingly. Discount rates for valuing contingent consideration are determined based on the company rates and specific acquisition risk considerations. Changes in fair value associated with the earnout provisions are recognized in Selling, general and administrative expenses within the Condensed Consolidated Statements of Comprehensive Income. The following table represents changes in the fair value of the contingent consideration liabilities: April 1, 2023 Beginning balance $ 47,242 New contingent consideration 1,316 Changes in fair value 1,316 Ending balance $ 49,874 e) Consolidated Statements of Cash Flows Cash paid for interest was $30.5 million and $18.1 million for the three months ended April 1, 2023 and April 2, 2022, respectively. Cash payments totaling $8.0 million and $7.9 million were made for income taxes for the three months ended April 1, 2023 and April 2, 2022, respectively. Other non-cash items in the adjustments to reconcile net earnings to net cash provided by operating activities consists primarily of unrealized foreign exchange on non-functional currency third party debt. f) Earnings Per Share “Basic earnings per share” is calculated based upon the weighted average number of common shares actually outstanding, and “diluted earnings per share” is calculated based upon the weighted average number of common shares outstanding and other dilutive securities. The company’s potentially dilutive securities consist of shares issuable on vesting of restricted stock grants computed using the treasury method and amounted to 2,000 and 6,000 for the three months ended April 1, 2023 and April 2, 2022, respectively. For the three months ended April 1, 2023 and April 2, 2022, the average market price of the company's common stock exceeded the exercise price of the Convertible Notes (as defined below) resulting in 781,000 and 1,688,000 diluted common stock equivalents to be included in the diluted net earnings per share, respectively. There have been no material conversions to date. See Note 12, Financing Arrangements for further details on the Convertible Notes. There were no anti-dilutive restricted stock grants excluded from common stock equivalents in any period presented.

Acquisitions and Purchase Accou

Acquisitions and Purchase Accounting	3 Months Ended
	Apr. 01, 2023
Business Combinations [Abstract]
Business Combination Disclosure	Acquisitions and Purchase Accounting The company accounts for all business combinations using the acquisition method to record a new cost basis for the assets acquired and liabilities assumed. The difference between the purchase price and the fair value of the assets acquired and liabilities assumed has been recorded as goodwill in the financial statements. The company recognizes identifiable intangible assets, primarily trade names and customer relationships, at their fair value using a discounted cash flow model. The significant assumptions used to estimate the value of the intangible assets include revenue growth rates, projected profit margins, discount rates, royalty rates, and customer attrition rates. These significant assumptions are forward-looking and could be affected by future economic and market conditions. The results of operations are reflected in the consolidated financial statements of the company from the dates of acquisition. The company completed no material acquisitions during the three months ended April 1, 2023. Other 2022 Acquisitions During 2022, the company completed various acquisitions that were not individually material. The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2022 acquisitions and are summarized as follows (in thousands): Preliminary Opening Balance Sheet Preliminary Measurement Adjusted Opening Balance Sheet Cash $ 25,860 $ 159 $ 26,019 Current assets 115,264 (2,983) 112,281 Property, plant and equipment 44,598 709 45,307 Goodwill 139,633 5,527 145,160 Other intangibles 93,147 2,212 95,359 Long-term deferred tax asset 426 104 530 Other assets 1,420 3,039 4,459 Current portion of long-term debt (22,841) 2,154 (20,687) Current liabilities (57,158) (1,479) (58,637) Long term debt (5,646) (2,320) (7,966) Long-term deferred tax liability (23,137) 1,858 (21,279) Other non-current liabilities (19,061) (6,737) (25,798) Consideration paid at closing $ 292,505 292505000 $ 2,243 $ 294,748 Contingent consideration 19,105 3,969 23,074 Net assets acquired and liabilities assumed $ 311,610 $ 6,212 $ 317,822 The net long-term deferred tax liability amounted to $20.7 million. The net deferred tax liability is comprised of $19.6 million related to the difference between the book and tax basis of identifiable intangible assets and $1.1 million related to the difference between the book and tax basis on identifiable tangible asset and liability accounts. The goodwill and $42.9 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $37.7 million allocated to customer relationships, $6.3 million allocated to developed technology, and $8.4 million allocated to backlog, which are being amortized over periods of 7 years, 5 to 10 years, and 3 to 6 months, respectively. Goodwill of $112.0 million and other intangibles of $59.1 million are allocated to the Food Processing Equipment Group for segment reporting purposes. Goodwill of $30.9 million and other intangibles of $35.5 million are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. Goodwill of $2.3 million and other intangibles of $0.8 million are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Of these assets, goodwill of $20.7 million and intangibles of $11.8 million are expected to be deductible for tax purposes. Four purchase agreements include earnout provisions providing for a contingent payment due to the sellers for the achievement of certain targets. Three earnouts are payable to the extent certain EBITDA targets are met with measurement dates ending between 2022 and 2025. One earnout is payable yearly through 2026 based on product sales. One earnout is payable yearly through 2027 based on product sales. The contractual obligation associated with the contingent earnout provisions recognized on the acquisition date amount to $23.1 million. The company believes that information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the company is waiting for additional information necessary to finalize those fair values for all acquisitions completed during 2022. Certain intangible assets are preliminarily valued using historical information from the Commercial Foodservice Equipment Group, Food Processing Equipment Group and Residential Kitchen Equipment Group and qualitative assessments of the individual businesses at acquisition date. Specifically, the company estimated the fair values of the intangible assets based on the percentage of purchase price assigned to similar intangible assets in previous acquisitions. Thus, the provisional measurements of fair values set forth above are subject to change. The company expects to complete the purchase price allocation as soon as practicable but no later than one year from the acquisition date. Other 2023 Acquisitions During 2023, the company completed various acquisitions that were not individually material. The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2023 acquisitions and are summarized as follows (in thousands): Preliminary Opening Balance Sheet Cash $ 851 Current assets 2,668 Property, plant and equipment 955 Goodwill 3,149 Other intangibles 11,221 Current liabilities (644) Other non-current liabilities (741) Consideration paid at closing $ 17,459 Contingent consideration 741 Net assets acquired and liabilities assumed $ 18,200 The goodwill and $3.0 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $2.4 million allocated to customer relationships, and $5.8 million allocated to developed technology, which are being amortized over periods of 7 years and 7 years to 12 years, respectively. Goodwill of $3.1 million and other intangibles of $11.2 million are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. All of the goodwill and other intangibles are expected to be deductible for tax reporting purposes. One purchase agreement includes an earnout provision providing for a contingent payment due to the sellers for the achievement of certain targets. The earnout is payable during 2025 to the extent certain EBITDA targets are met. The contractual obligation associated with the contingent earnout provisions recognized on the acquisition date amount to $0.7 million. The company believes that information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the company is waiting for additional information necessary to finalize those fair values for all acquisitions completed during 2023. Certain intangible assets are preliminarily valued using historical information from the Commercial Foodservice Equipment Group and qualitative assessments of the individual businesses at acquisition date. Specifically, the company estimated the fair values of the intangible assets based on the percentage of purchase price assigned to similar intangible assets in previous acquisitions. Thus, the provisional measurements of fair values set forth above are subject to change. The company expects to complete the purchase price allocation as soon as practicable but no later than one year from the acquisition date. Pro Forma Financial Information In accordance with ASC 805 Business Combinations, the following unaudited pro forma results of operations for the three months ended April 1, 2023 and April 2, 2022, assumes the 2022 and 2023 acquisitions described above were completed on January 2, 2022 (first day of fiscal year 2022). The following pro forma results include adjustments to reflect amortization of intangibles associated with the acquisition and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data): Three Months Ended April 1, 2023 April 2, 2022 Net sales $ 1,007,624 $ 1,033,298 Net earnings 102,272 72,593 Net earnings per share: Basic $ 1.91 $ 1.33 Diluted $ 1.88 $ 1.29 The historical consolidated financial information of the company and the acquisitions have been adjusted in the pro forma information to give effect to events that are (1) directly attributable to the transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Pro forma data may not be indicative of the results that would have been obtained had these acquisitions occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. Additionally, the pro forma financial information does not reflect the costs which the company has incurred or may incur to integrate the acquired businesses.

Litigation Matters

Litigation Matters	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Litigation Matters	Litigation MattersFrom time to time, the company is subject to proceedings, lawsuits and other claims related to products, suppliers, employees, customers and competitors. The company maintains insurance to partially cover product liability, workers compensation, property and casualty, and general liability matters. The company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after assessment of each matter and the related insurance coverage. The required accrual may change in the future due to new developments or changes in approach, such as a change in settlement strategy in dealing with these matters. The company does not believe that any pending litigation will have a material effect on its financial condition, results of operations or cash flows.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Accounting Pronouncements - Recently Adopted In October 2021, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” The new accounting rules require entities to apply “Revenue from Contracts with Customers (Topic 606)” to recognize and measure contract assets and contract liabilities in a business combination. The new accounting rules were effective for the Company in the first quarter of 2023. The company adopted this standard in the first quarter of 2023 and it did not have a material impact on its Consolidated Financial Statements and disclosures In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832), Disclosures by Business Entities About Government Assistance, which requires entities to provide disclosures on material government assistance transactions for annual reporting periods. The disclosures include information around the nature of the assistance, the related accounting policies used to account for government assistance, the effect of government assistance on the entity’s financial statements, and any significant terms and conditions of the agreements, including commitments and contingencies. The new standard is effective for the company as of January 1, 2023 and only impacts annual financial statement footnote disclosures. The company adopted this standard in the first quarter of 2023 and it did not have a material impact on its Consolidated Financial Statements and disclosures. In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for troubled debt restructurings by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing financial difficulty. The amendments also require disclosure of current-period gross write-offs by year of origination for financing receivables. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The standard should be applied prospectively, and it allows for a modified retrospective transition method resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The company adopted this standard in the first quarter of 2023 and it did not have a material impact on its Consolidated Financial Statements and disclosures. In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. The new standard expands and clarifies the use of the portfolio layer method for fair value hedges of interest rate risk. The new standard allows non-prepayable financial assets to also be included in a closed portfolio hedged using the portfolio layer method. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The new guidance on hedging multiple layers in a closed portfolio should be applied prospectively and the guidance on the accounting for fair value basis adjustments should be applied on a modified retrospective basis. The company adopted this standard in the first quarter of 2023 and it did not have a material impact on its Consolidated Financial Statements and disclosures. Accounting Pronouncements - To be adopted In March 2023, the FASB issued Accounting Standards Update ASU 2023-01, “Leases (Topic 842): Common Control Arrangements.” This ASU clarified the accounting for leasehold improvements for leases under common control. The guidance is effective for the Company beginning on January 1, 2024. The company is currently evaluating the impacts the adoption of this guidance will have on its Consolidated Financial Statements and disclosures.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition	3 Months Ended
	Apr. 01, 2023
Revenue Recognition [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition Disaggregation of Revenue The company disaggregates its net sales by reportable operating segment and geographical location as the company believes it best depicts how the nature, timing and uncertainty of its net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under the company's long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. The following table summarizes the company's net sales by reportable operating segment and geographical location (in thousands): Commercial Food Processing Residential Kitchen Total Three Months Ended April 1, 2023 United States and Canada $ 452,655 $ 116,900 $ 143,959 $ 713,514 Asia 56,526 8,587 3,189 68,302 Europe and Middle East 86,965 34,059 70,386 191,410 Latin America 17,789 13,957 2,424 34,170 Total $ 613,935 $ 173,503 $ 219,958 $ 1,007,396 Three Months Ended April 2, 2022 United States and Canada $ 390,776 $ 98,288 $ 229,599 $ 718,663 Asia 47,382 3,746 6,005 57,133 Europe and Middle East 88,570 14,207 93,583 196,360 Latin America 13,290 7,337 1,893 22,520 Total $ 540,018 $ 123,578 $ 331,080 $ 994,676 Contract Balances Contract assets primarily relate to the company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid expenses and other in the Condensed Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Accounts receivable are not considered contract assets under the revenue standard as contract assets are conditioned upon the company's future satisfaction of a performance obligation. Accounts receivable, in contracts, are unconditional rights to consideration. Contract liabilities relate to advance consideration received from customers for which revenue has not been recognized. Current contract liabilities are recorded in accrued expenses in the Condensed Consolidated Balance Sheet. Non-current contract liabilities are recorded in other non-current liabilities in the Condensed Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized. The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Apr 1, 2023 Dec 31, 2022 Contract assets $ 46,495 $ 40,438 Contract liabilities $ 177,190 $ 185,824 Non-current contract liabilities $ 13,195 $ 12,495 During the three months period ended April 1, 2023, the company reclassified $12.7 million to receivables, which was included in the contract asset balance at the beginning of the period. During the three months period ended April 1, 2023, the company recognized revenue of $43.1 million which was included in the contract liability balance at the beginning of the period. Additions to contract liabilities representing amounts billed to clients in excess of revenue recognized to date were $47.0 million during the three months period ended April 1, 2023. In addition, contract liabilities increased due to the acquisitions during the three months ended April 1, 2023. Substantially, all of the company's outstanding performance obligations will be satisfied within 12 to 36 months. There were no contract asset impairments during the three months period ended April 1, 2023.

Other Comprehensive Income

Other Comprehensive Income	3 Months Ended
	Apr. 01, 2023
Disclosure Other Comprehensive Income Additional Information [Abstract]
Other Comprehensive Income	Other Comprehensive Income Changes in accumulated other comprehensive income (1) were as follows (in thousands): Currency Translation Adjustment Pension Benefit Costs Unrealized Gain/(Loss) Interest Rate Swap Unrealized Gain Certain Investments Total Balance as of December 31, 2022 $ (205,345) $ (121,701) $ 48,574 $ — $ (278,472) Other comprehensive income before reclassification 26,959 (3,479) (1,312) — 22,168 Amounts reclassified from accumulated other comprehensive income — 670 (7,009) — (6,339) Net current-period other comprehensive income $ 26,959 $ (2,809) $ (8,321) — $ 15,829 Balance as of April 1, 2023 $ (178,386) $ (124,510) $ 40,253 — $ (262,643) Balance as of January 1, 2022 $ (97,654) $ (249,696) $ (13,064) $ 1,330 $ (359,084) Other comprehensive income before reclassification (27,191) 6,244 27,155 1,348 7,556 Amounts reclassified from accumulated other comprehensive income — — 3,961 — 3,961 Net current-period other comprehensive income $ (27,191) $ 6,244 $ 31,116 $ 1,348 $ 11,517 Balance as of April 2, 2022 $ (124,845) $ (243,452) $ 18,052 $ 2,678 $ (347,567) (1) As of April 1, 2023, pension and interest rate swap are net of tax of $(2.1) million and $13.9 million, respectively. During the three months ended April 1, 2023, the adjustments to pension and interest rate swap were net of tax of $(0.1) million and $(2.9) million, respectively. As of April 2, 2022, pension, interest rate swap, and gain on investment amounts are net of tax of $(38.5) million, $6.4 million, and $0.9 million, respectively. During the three months ended April 2, 2022, the adjustments to pension, unrealized gain/(loss) interest rate swap, and gain on investments were net of tax of $1.0 million, $10.9 million, and $0.5 million, respectively. Components of other comprehensive income were as follows (in thousands): Three Months Ended Apr 1, 2023 Apr 2, 2022 Net earnings $ 99,089 $ 85,755 Currency translation adjustment 26,959 (27,191) Pension liability adjustment, net of tax (2,809) 6,244 Unrealized (loss) gain on interest rate swaps, net of tax (8,321) 31,116 Unrealized gain on certain investments, net of tax — 1,348 Comprehensive income $ 114,918 $ 97,272

Inventories

Inventories	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Inventories	Inventories Inventories are composed of material, labor and overhead and are stated at the lower of cost or net realizable value. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at April 1, 2023 and December 31, 2022 are as follows (in thousands): Apr 1, 2023 Dec 31, 2022 Raw materials and parts $ 595,595 $ 595,325 Work-in-process 100,248 86,083 Finished goods 420,521 396,321 $ 1,116,364 $ 1,077,729

Goodwill

Goodwill	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill for the three months ended April 1, 2023 are as follows (in thousands): Commercial Food Residential Kitchen Total Balance as of December 31, 2022 $ 1,309,776 $ 350,303 $ 751,755 $ 2,411,834 Goodwill acquired during the year 3,149 — — 3,149 Measurement period adjustments to 782 (248) — 534 Exchange effect 2,180 2,734 8,736 13,650 Balance as of April 1, 2023 $ 1,315,887 $ 352,789 $ 760,491 $ 2,429,167 The annual impairment assessment for goodwill and indefinite-lived intangible assets is performed as of the first day of the fourth quarter and since that assessment, the company does not believe there are any indicators of impairment requiring subsequent analysis. This is supported by the review of order rates, backlog levels and financial performance across business segments.

Intangibles

Intangibles	3 Months Ended
	Apr. 01, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets Disclosure [Text Block]	Intangibles Intangible assets consist of the following (in thousands): April 1, 2023 December 31, 2022 Estimated Gross Accumulated Estimated Gross Accumulated Amortized intangible assets: Customer lists 7.4 $ 844,529 $ (479,402) 7.6 $ 839,811 $ (460,885) Backlog 0.0 8,899 (8,899) 0.1 8,301 (6,352) Developed technology 8.5 85,791 (37,625) 8.3 79,763 (35,797) $ 939,219 $ (525,926) $ 927,875 $ (503,034) Indefinite-lived assets: Trademarks and tradenames $ 1,377,769 $ 1,369,391 The aggregate intangible amortization expense was $21.2 million and $33.6 million for the three months period ended April 1, 2023 and April 2, 2022, respectively. The estimated future amortization expense of intangible assets is as follows (in thousands): Twelve Month Period coinciding with the end of the company's Fiscal First Quarter Amortization Expense 2024 $ 72,196 2025 60,078 2026 55,877 2027 51,348 2028 43,290 Thereafter 130,504 $ 413,293

Accrued Expenses

Accrued Expenses	3 Months Ended
	Apr. 01, 2023
Disclosure Accrued Expenses [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): Apr 1, 2023 Dec 31, 2022 Contract liabilities $ 177,190 $ 185,824 Accrued payroll and related expenses 121,869 122,861 Accrued warranty 84,878 82,096 Accrued customer rebates 47,154 70,706 Accrued short-term leases 25,882 25,250 Accrued sales and other tax 25,091 24,044 Accrued contingent consideration 21,178 20,529 Accrued agent commission 17,253 17,381 Accrued professional fees 16,966 19,541 Accrued product liability and workers compensation 11,308 11,326 Other accrued expenses 115,261 91,769 $ 664,030 $ 671,327

Warranty Costs

Warranty Costs	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Warranty Costs	Warranty Costs In the normal course of business, the company issues product warranties for specific product lines and provides for the estimated future warranty cost in the period in which the sale is recorded. The estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Because warranty estimates are forecasts that are based on the best available information, actual claims costs may differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable. A rollforward of the warranty reserve is as follows (in thousands): Three Months Ended Apr 1, 2023 Balance as of December 31, 2022 $ 82,096 Warranty expense 22,633 Warranty claims (19,851) Balance as of April 1, 2023 $ 84,878

Financing Arrangements

Financing Arrangements	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Financing Arrangements	Financing Arrangements Apr 1, 2023 Dec 31, 2022 (in thousands) Senior secured revolving credit line $ 282,514 $ 251,805 Term loan facility 963,630 975,785 Delayed draw term loan facility 740,625 750,000 Convertible senior notes 738,816 737,918 Foreign loans 6,232 5,917 Other debt arrangement 847 899 Total debt 2,732,664 2,722,324 Less: Current maturities of long-term debt 44,247 45,583 Long-term debt $ 2,688,417 $ 2,676,741 Credit Facility As of April 1, 2023, the company had $2.0 billion of borrowings outstanding under its credit facility (the "Credit Facility"), including $968.8 million outstanding under the term loan ($963.6 million, net of unamortized issuance fees) and $740.6 million outstanding under the delayed draw term loan. The company also had $2.0 million in outstanding letters of credit as of April 1, 2023, which reduces the borrowing availability under the Credit Facility. Remaining borrowing capacity under this facility was $2.5 billion at April 1, 2023. On August 11, 2022, the company borrowed $750.0 million against the delayed draw term facility as provided under the Credit Agreement. The funds were used to reduce outstanding borrowings under the revolver. The delayed draw term loan amortizes in quarterly installments due on the last day of each fiscal quarter, and commenced on December 31, 2022, in an amount equal to 0.625% of the principal drawn, with the balance, plus any accrued interest payable by October 21, 2026. At April 1, 2023 through April 11, 2023, borrowings under the Credit Facility accrued interest at a rate of 1.625% above LIBOR per annum or 0.625% above the highest of the prime rate, the federal funds rate plus 0.50% and one month LIBOR plus 1.00%. Commencing April 11, 2023, new borrowings under the Credit Facility accrued interest at a rate of 1.625% above the daily simple Secured Overnight Financing Rate (“SOFR”) per annum or 0.625% above the highest of the prime rate, the federal funds rate plus 0.50% and one month Term SOFR plus 1.00%. The interest rates on borrowings under the Credit Facility may be adjusted quarterly based on the company’s Funded Debt less Unrestricted Cash to Pro Forma EBITDA (the “Leverage Ratio”) on a rolling four-quarter basis. Additionally, a commitment fee based upon the Leverage Ratio is charged on the unused portion of the commitments under the Credit Facility. As of April 1, 2023, borrowings under the Credit Facility accrued interest at a minimum of 1.625% above LIBOR and the variable unused commitment fee will be at a minimum of 0.25%. Commencing on April 11, 2023, new borrowings under the Credit Facility accrued interest at a minimum of 1.625% above the daily simple SOFR or term SOFR for the applicable interest period (each of which includes a spread adjustment of 0.10%). The average interest rate per annum, inclusive of hedging instruments, on the debt under the Credit Facility was equal to 4.66% at the end of the period and the variable commitment fee was equal to 0.25% per annum as of April 1, 2023. The term loan and delayed draw term loan facilities had an average interest rate per annum, inclusive of hedging instruments, of 4.63% as of April 1, 2023. In addition, the company has international credit facilities to fund working capital needs outside the United States. At April 1, 2023, these foreign credit facilities amounted to $6.2 million in U.S. Dollars with a weighted average per annum interest rate of approximately 1.04%. The company’s debt is reflected on the balance sheet at cost. The fair values of the Credit Facility, term debt and foreign and other debt is based on the amount of future cash flows associated with each instrument discounted using the company's incremental borrowing rate. The company believes its interest rate margins on its existing debt are consistent with current market conditions and therefore the carrying value of debt reflects the fair value. The interest rate margin is based on the company's Leverage Ratio. The carrying value and estimated aggregate fair value, a level 2 measurement, based primarily on market prices, of debt excluding the Convertible Notes is as follows (in thousands): Apr 1, 2023 Dec 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Total debt excluding convertible senior notes $ 1,993,848 $ 1,998,968 $ 1,984,406 $ 1,989,871 The company uses floating-to-fixed interest rate swap agreements to hedge variable interest rate risk associated with the Credit Facility. At April 1, 2023, the company had outstanding floating-to-fixed interest rate swaps totaling $308.0 million notional amount carrying an average interest rate of 1.95% maturing in less than 12 months and $740.0 million notional amount carrying an average interest rate of 1.73% that mature in more than 12 months but less than 59 months. At April 1, 2023, the company was in compliance with all covenants pursuant to its borrowing agreements. Convertible Notes The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes: Apr 1, 2023 Dec 31, 2022 (in thousands) Principal amounts: Principal $ 747,499 $ 747,499 Unamortized issuance costs (8,683) (9,581) Net carrying amount $ 738,816 $ 737,918 The following table summarizes total interest expense recognized related to the Convertible Notes: Three Months Ended Apr 1, 2023 Apr 2, 2022 Contractual interest expense $ 1,869 $ 1,890 Interest cost related to amortization of issuance costs 898 902 Total interest expense $ 2,767 $ 2,792 The estimated fair value of the Convertible Notes was $929.4 million as of April 1, 2023 and was determined through consideration of quoted market prices. The fair value is classified as Level 2, as defined in Note 1(d), Fair Value Measurements , in these Notes to the Condensed Consolidated Financial Statement . The if-converted value of the Convertible Notes exceeded their respective principal value by $104.5 million as of April 1, 2023. Capped Call Transactions In connection with the pricing of the Convertible Notes, the company entered into privately negotiated Capped Call Transactions (the "2020 Capped Call Transactions") and the company used the net proceeds of the offering of the Convertible Notes to pay the aggregate amount of $104.7 million for them. The company entered into two tranches of privately negotiated Capped Call Transactions in December 2021 (the "2021 Capped Call Transactions") in the aggregate amount of $54.6 million. On March 15, 2022 , the company entered into an additional tranche of privately negotiated Capped Call Transactions (the "2022 Capped Call Transactions") in the amount of $9.7 million. The 2020, 2021, and 2022 Capped Call Transactions (collectively, the "Capped Call Transactions") are expected generally to reduce the potential dilution and/or offset the cash payments the company is required to make in excess of the principal amount of the Convertible Notes upon conversion of the Convertible Notes in the event that the market price per share of the company's common stock is greater than the strike price of the Capped Call Transactions (which initially corresponds to the initial conversion price of the Convertible Notes and is subject to certain adjustments under the terms of the Capped Call Transactions), with such reduction and/or offset subject to a cap based on the cap price of the Capped Call Transactions. The 2020 Capped Call Transactions have an initial cap price of $207.93 per share of the company's common stock. The 2021 Capped Call Transactions have initial cap prices of $216.50 and $225.00 per share of the company's common stock. The 2022 Capped Call Transactions have an initial cap price of $229.00 per share. The Capped Call Transactions cover, initially, the number of shares of the company's common stock underlying the Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes. The Capped Call Transactions are separate transactions entered into by the company with the capped call counterparties, and are not part of the terms of the Convertible Notes and will not affect any holder's right under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Capped Call Transactions. The Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the company's stock. The premiums paid of the Capped Call Transactions have been included as a net reduction to additional paid-in capital with stockholders' equity.

Financial Instruments

Financial Instruments	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Financial Instruments	Financial Instruments Foreign Exchange : The company uses foreign currency forward, foreign exchange swaps and option purchase and sales contracts to hedge its exposure to changes in foreign currency exchange rates. The company’s primary hedging activities are to mitigate its exposure to changes in exchange rates on intercompany and third party trade receivables and payables. The company does not currently enter into derivative financial instruments for speculative purposes. In managing its foreign currency exposures, the company identifies and aggregates naturally occurring offsetting positions and then hedges residual balance sheet exposures. The notional amount of foreign currency contracts outstanding was $384.6 million and $562.5 million as of April 1, 2023 and December 31, 2022, respectively. The fair value of the forward and option contracts was a loss of $0.3 million at the end of the first quarter of 2023. Interest Rate: The company has entered into interest rate swaps to fix the interest rate applicable to certain of its variable-rate debt. The agreements swap one-month LIBOR for fixed rates. In February 2022, the company entered into an additional floating-to-fixed interest rate swap agreement that uses a daily SOFR in lieu of LIBOR. In April 2023, all outstanding LIBOR swap agreements were amended to one month term SOFR. The company has designated these swaps as cash flow hedges and all changes in fair value of the swaps are recognized in accumulated other comprehensive income. As of April 1, 2023, the fair value of these instruments was an asset of $53.8 million. The change in fair value of these swap agreements in the first three months of 2023 was a loss of $8.3 million, net of taxes. The following table summarizes the company’s fair value of interest rate swaps (in thousands): Condensed Consolidated Apr 1, 2023 Dec 31, 2022 Fair value Prepaid expense and other $ 7,034 $ 6,805 Fair value Other assets $ 46,720 $ 58,180 The impact on earnings from interest rate swaps was as follows (in thousands): Three Months Ended Presentation of Gain/(loss) Apr 1, 2023 Apr 2, 2022 Gain/(loss) recognized in accumulated other comprehensive income Other comprehensive income $ (4,222) $ 38,047 Gain/(loss) reclassified from accumulated other comprehensive income (effective portion) Interest expense $ 7,009 $ (3,961) Interest rate swaps are subject to default risk to the extent the counterparties are unable to satisfy their settlement obligations under the interest rate swap agreements. The company reviews the credit profile of the financial institutions that are counterparties to such swap agreements and assesses their creditworthiness prior to entering into the interest rate swap agreements and throughout the term. The interest rate swap agreements typically contain provisions that allow the counterparty to require early settlement in the event that the company becomes insolvent or is unable to maintain compliance with its covenants under its existing debt agreements.

Segment Information

Segment Information	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Segment Information	Segment Information The company operates in three reportable operating segments defined by management reporting structure and operating activities. The Commercial Foodservice Equipment Group has a broad portfolio of foodservice equipment, which enables it to serve virtually any cooking, warming, holding, refrigeration, freezing and beverage application within a commercial kitchen or foodservice operation. This equipment is used across all types of foodservice operations, including quick-service restaurants, full-service restaurants, ghost kitchens, convenience stores, supermarkets, retail outlets, hotels and other institutions. The products offered by this group include conveyor ovens, combi-ovens, convection ovens, baking ovens, proofing ovens, deck ovens, speed cooking ovens, hydrovection ovens, ranges, fryers, rethermalizers, steam cooking equipment, food warming equipment, catering equipment, heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, induction cooking equipment, countertop cooking equipment, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, coldrooms, ice machines, freezers, soft serve ice cream equipment, coffee and beverage dispensing equipment, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The Food Processing Equipment Group offers a broad portfolio of processing solutions for customers producing protein products, such as bacon, salami, hot dogs, dinner sausages, poultry and lunchmeats and baked goods such as muffins, cookies, crackers, pies, bread and buns. Through its broad line of products, the company is able to deliver a wide array of food preparation, thermal processing, slicing/packaging, facility automation and equipment sanitation solutions to service a variety of food processing requirements demanded by its customers. The company can offer highly integrated full processing line solutions that provide a food processing operation a uniquely integrated solution providing for the highest level of food quality, product consistency, and reduced operating costs resulting from increased product yields, increased capacity and greater throughput and reduced labor costs through automation. The products offered by this group include a wide array of cooking and baking solutions, including batch ovens, baking ovens, proofing ovens, conveyor belt ovens, continuous processing ovens, frying systems and automated thermal processing systems. The company also provides a comprehensive portfolio of complementary food preparation equipment such as tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, blenders, formers, battering equipment, breading equipment, seeding equipment, water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment, as well as a variety of automated loading and unloading systems, automated washing systems, auto-guided vehicles, food safety, food handling, freezing, defrosting and packaging equipment. This portfolio of equipment can be integrated to provide customers a highly efficient and customized solution. The Residential Kitchen Equipment Group has a broad portfolio of innovative and professional-style residential kitchen equipment. The products offered by this group include ranges, cookers, stoves, cooktops, microwaves, ovens, refrigerators, dishwashers, undercounter refrigeration, wine cellars, ice machines, beer dispensers, ventilation equipment, mixers, rotisseries and outdoor cooking equipment. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker evaluates individual segment performance based on operating income. Net Sales Summary (dollars in thousands) Three Months Ended Apr 1, 2023 Apr 2, 2022 Sales Percent Sales Percent Business Segments: Commercial Foodservice $ 613,935 61.0 % $ 540,018 54.3 % Food Processing 173,503 17.2 123,578 12.4 Residential Kitchen 219,958 21.8 331,080 33.3 Total $ 1,007,396 100.0 % $ 994,676 100.0 % The following table summarizes the results of operations for the company's business segments (in thousands): Commercial Food Processing Residential Kitchen Corporate and Other (1) Total Three Months Ended April 1, 2023 Net sales $ 613,935 $ 173,503 $ 219,958 $ — $ 1,007,396 Income (loss) from operations (2, 3) 136,562 34,687 21,186 (31,413) 161,022 Depreciation expense (4) 6,166 2,097 3,447 267 11,977 Amortization expense (5) 14,808 4,137 2,238 1,787 22,970 Net capital expenditures 16,906 2,203 6,214 162 25,485 Total assets $ 3,827,805 $ 1,007,569 $ 1,999,632 $ 121,131 $ 6,956,137 Three Months Ended April 2, 2022 Net sales $ 540,018 $ 123,578 $ 331,080 $ — $ 994,676 Income (loss) from operations (2, 3) 109,635 20,195 24,946 (32,212) 122,564 Depreciation expense (4) 5,839 1,358 3,985 190 11,372 Amortization expense (5) 13,491 1,945 18,129 1,805 35,370 Net capital expenditures 5,557 3,094 5,541 305 14,497 Total assets $ 3,594,208 $ 657,415 $ 2,127,119 $ 95,423 $ 6,474,165 (1) Includes corporate and other general company assets and operations. (2) Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations. (3) Restructuring expenses are allocated in operating income by segment. (4) Includes depreciation on right of use assets. (5) Includes amortization of deferred financing costs and Convertible Notes issuance costs. Geographic Information Long-lived assets, not including goodwill and other intangibles (in thousands): Apr 1, 2023 Apr 2, 2022 United States and Canada $ 476,073 $ 401,182 Asia 36,597 19,626 Europe and Middle East 149,031 147,005 Latin America 13,688 10,934 Total international $ 199,316 $ 177,565 $ 675,389 $ 578,747

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Apr. 01, 2023
Employee Retirement Plans [Abstract]
Employee Retirement Plans	Employee Retirement Plans The following table summarizes the company's net periodic pension benefit related to the AGA Group pension plans (in thousands): Three Months Ended Apr 1, 2023 Apr 2, 2022 Net Periodic Pension Benefit: Interest cost $ 11,138 $ 6,705 Expected return on assets (14,219) (19,956) Amortization of net loss 7 965 Amortization of prior service cost 631 696 $ (2,443) $ (11,590)

Share Repurchases

Share Repurchases	3 Months Ended
	Apr. 01, 2023
Text Block [Abstract]
Treasury Stock [Text Block]	Share Repurchases In November 2017, the company's Board of Directors approved a stock repurchase program authorizing the company to repurchase in the aggregate up to 2,500,000 shares of its outstanding common stock. In May 2022, the company's Board of Directors approved the company to repurchase an additional 2,500,000 shares of its outstanding common stock under the current program. During the three months period ended April 1, 2023, the company repurchased 348,980 shares of its common stock under the program for $48.8 million, including applicable commissions and excise tax, which represented an average price of $139.80. As of April 1, 2023, 3,067,606 shares had been purchased under the stock repurchase program and 1,932,394 shares remained authorized for repurchase. The company also treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. During the three months period ended April 1, 2023, the company repurchased 125,216 shares of its common stock that were surrendered to the company for withholding taxes related to restricted stock vestings for $19.5 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared by The Middleby Corporation (the "company" or “Middleby”), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements are unaudited and certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the company believes that the disclosures are adequate to make the information not misleading. These financial statements should be read in conjunction with the financial statements and related notes contained in the company's 2022 Form 10-K. The company’s interim results are not necessarily indicative of future full year results for the fiscal year 2023. Certain reclassifications of prior year data have been made to conform with current year reporting. In the opinion of management, the financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of the company as of April 1, 2023 and December 31, 2022, the results of operations for the three months ended April 1, 2023 and April 2, 2022, cash flows for the three months ended April 1, 2023 and April 2, 2022 and statement of stockholders' equity for the three months ended April 1, 2023 and April 2, 2022.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not limited to, allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves, non-cash share-based compensation and post-retirement obligations. Actual results could differ from the company's estimates.
Non-Cash Share-Based Compensation	Non-Cash Share-Based CompensationThe company estimates the fair value of market-based stock awards and stock options at the time of grant and recognizes compensation cost over the vesting period of the awards and options.
Fair Value Measures	Fair Value Measures Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3 – Unobservable inputs based the company's own assumptions.
Earnings Per Share, Policy	Earnings Per Share“Basic earnings per share” is calculated based upon the weighted average number of common shares actually outstanding, and “diluted earnings per share” is calculated based upon the weighted average number of common shares outstanding and other dilutive securities.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Policies)	3 Months Ended
	Apr. 01, 2023
Revenue Recognition [Abstract]
Revenue [Policy Text Block]	The company disaggregates its net sales by reportable operating segment and geographical location as the company believes it best depicts how the nature, timing and uncertainty of its net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under the company's long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 01, 2023
Accounting Policies [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands): Fair Value Fair Value Fair Value Total As of April 1, 2023 Financial Assets: Interest rate swaps $ — $ 53,754 $ — $ 53,754 Financial Liabilities: Contingent consideration $ — $ — $ 49,874 $ 49,874 Foreign exchange derivative contracts $ — $ 308 $ — $ 308 As of December 31, 2022 Financial Assets: Interest rate swaps $ — $ 64,985 $ — $ 64,985 Financial Liabilities: Contingent consideration $ — $ — $ 47,242 $ 47,242 Foreign exchange derivative contracts $ — $ 474 $ — $ 474
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table represents changes in the fair value of the contingent consideration liabilities: April 1, 2023 Beginning balance $ 47,242 New contingent consideration 1,316 Changes in fair value 1,316 Ending balance $ 49,874

Acquisitions and Purchase Acc_2

Acquisitions and Purchase Accounting Acquisition and Purchase Accounting (Tables)	3 Months Ended
	Apr. 01, 2023
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information	The following pro forma results include adjustments to reflect amortization of intangibles associated with the acquisition and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data): Three Months Ended April 1, 2023 April 2, 2022 Net sales $ 1,007,624 $ 1,033,298 Net earnings 102,272 72,593 Net earnings per share: Basic $ 1.91 $ 1.33 Diluted $ 1.88 $ 1.29
2022 Acquisitions
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2022 acquisitions and are summarized as follows (in thousands): Preliminary Opening Balance Sheet Preliminary Measurement Adjusted Opening Balance Sheet Cash $ 25,860 $ 159 $ 26,019 Current assets 115,264 (2,983) 112,281 Property, plant and equipment 44,598 709 45,307 Goodwill 139,633 5,527 145,160 Other intangibles 93,147 2,212 95,359 Long-term deferred tax asset 426 104 530 Other assets 1,420 3,039 4,459 Current portion of long-term debt (22,841) 2,154 (20,687) Current liabilities (57,158) (1,479) (58,637) Long term debt (5,646) (2,320) (7,966) Long-term deferred tax liability (23,137) 1,858 (21,279) Other non-current liabilities (19,061) (6,737) (25,798) Consideration paid at closing $ 292,505 292505000 $ 2,243 $ 294,748 Contingent consideration 19,105 3,969 23,074 Net assets acquired and liabilities assumed $ 311,610 $ 6,212 $ 317,822
2023 Acquisitions
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2023 acquisitions and are summarized as follows (in thousands): Preliminary Opening Balance Sheet Cash $ 851 Current assets 2,668 Property, plant and equipment 955 Goodwill 3,149 Other intangibles 11,221 Current liabilities (644) Other non-current liabilities (741) Consideration paid at closing $ 17,459 Contingent consideration 741 Net assets acquired and liabilities assumed $ 18,200

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Tables)	3 Months Ended
	Apr. 01, 2023
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table summarizes the company's net sales by reportable operating segment and geographical location (in thousands): Commercial Food Processing Residential Kitchen Total Three Months Ended April 1, 2023 United States and Canada $ 452,655 $ 116,900 $ 143,959 $ 713,514 Asia 56,526 8,587 3,189 68,302 Europe and Middle East 86,965 34,059 70,386 191,410 Latin America 17,789 13,957 2,424 34,170 Total $ 613,935 $ 173,503 $ 219,958 $ 1,007,396 Three Months Ended April 2, 2022 United States and Canada $ 390,776 $ 98,288 $ 229,599 $ 718,663 Asia 47,382 3,746 6,005 57,133 Europe and Middle East 88,570 14,207 93,583 196,360 Latin America 13,290 7,337 1,893 22,520 Total $ 540,018 $ 123,578 $ 331,080 $ 994,676
Contract with Customer, Asset and Liability [Table Text Block]	The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Apr 1, 2023 Dec 31, 2022 Contract assets $ 46,495 $ 40,438 Contract liabilities $ 177,190 $ 185,824 Non-current contract liabilities $ 13,195 $ 12,495

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 01, 2023
Disclosure Other Comprehensive Income Additional Information [Abstract]
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Changes in accumulated other comprehensive income (1) were as follows (in thousands): Currency Translation Adjustment Pension Benefit Costs Unrealized Gain/(Loss) Interest Rate Swap Unrealized Gain Certain Investments Total Balance as of December 31, 2022 $ (205,345) $ (121,701) $ 48,574 $ — $ (278,472) Other comprehensive income before reclassification 26,959 (3,479) (1,312) — 22,168 Amounts reclassified from accumulated other comprehensive income — 670 (7,009) — (6,339) Net current-period other comprehensive income $ 26,959 $ (2,809) $ (8,321) — $ 15,829 Balance as of April 1, 2023 $ (178,386) $ (124,510) $ 40,253 — $ (262,643) Balance as of January 1, 2022 $ (97,654) $ (249,696) $ (13,064) $ 1,330 $ (359,084) Other comprehensive income before reclassification (27,191) 6,244 27,155 1,348 7,556 Amounts reclassified from accumulated other comprehensive income — — 3,961 — 3,961 Net current-period other comprehensive income $ (27,191) $ 6,244 $ 31,116 $ 1,348 $ 11,517 Balance as of April 2, 2022 $ (124,845) $ (243,452) $ 18,052 $ 2,678 $ (347,567)
Schedule of Comprehensive Income (Loss)	Components of other comprehensive income were as follows (in thousands): Three Months Ended Apr 1, 2023 Apr 2, 2022 Net earnings $ 99,089 $ 85,755 Currency translation adjustment 26,959 (27,191) Pension liability adjustment, net of tax (2,809) 6,244 Unrealized (loss) gain on interest rate swaps, net of tax (8,321) 31,116 Unrealized gain on certain investments, net of tax — 1,348 Comprehensive income $ 114,918 $ 97,272

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Schedule of Inventory, Current	Inventories at April 1, 2023 and December 31, 2022 are as follows (in thousands): Apr 1, 2023 Dec 31, 2022 Raw materials and parts $ 595,595 $ 595,325 Work-in-process 100,248 86,083 Finished goods 420,521 396,321 $ 1,116,364 $ 1,077,729

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the three months ended April 1, 2023 are as follows (in thousands): Commercial Food Residential Kitchen Total Balance as of December 31, 2022 $ 1,309,776 $ 350,303 $ 751,755 $ 2,411,834 Goodwill acquired during the year 3,149 — — 3,149 Measurement period adjustments to 782 (248) — 534 Exchange effect 2,180 2,734 8,736 13,650 Balance as of April 1, 2023 $ 1,315,887 $ 352,789 $ 760,491 $ 2,429,167 The annual impairment assessment for goodwill and indefinite-lived intangible assets is performed as of the first day of the fourth quarter and since that assessment, the company does not believe there are any indicators of impairment requiring subsequent analysis. This is supported by the review of order rates, backlog levels and financial performance across business segments.

Intangibles (Tables)

Intangibles (Tables)	3 Months Ended
	Apr. 01, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Intangible assets consist of the following (in thousands): April 1, 2023 December 31, 2022 Estimated Gross Accumulated Estimated Gross Accumulated Amortized intangible assets: Customer lists 7.4 $ 844,529 $ (479,402) 7.6 $ 839,811 $ (460,885) Backlog 0.0 8,899 (8,899) 0.1 8,301 (6,352) Developed technology 8.5 85,791 (37,625) 8.3 79,763 (35,797) $ 939,219 $ (525,926) $ 927,875 $ (503,034) Indefinite-lived assets: Trademarks and tradenames $ 1,377,769 $ 1,369,391
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The estimated future amortization expense of intangible assets is as follows (in thousands): Twelve Month Period coinciding with the end of the company's Fiscal First Quarter Amortization Expense 2024 $ 72,196 2025 60,078 2026 55,877 2027 51,348 2028 43,290 Thereafter 130,504 $ 413,293

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 01, 2023
Disclosure Accrued Expenses [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consist of the following (in thousands): Apr 1, 2023 Dec 31, 2022 Contract liabilities $ 177,190 $ 185,824 Accrued payroll and related expenses 121,869 122,861 Accrued warranty 84,878 82,096 Accrued customer rebates 47,154 70,706 Accrued short-term leases 25,882 25,250 Accrued sales and other tax 25,091 24,044 Accrued contingent consideration 21,178 20,529 Accrued agent commission 17,253 17,381 Accrued professional fees 16,966 19,541 Accrued product liability and workers compensation 11,308 11,326 Other accrued expenses 115,261 91,769 $ 664,030 $ 671,327

Warranty Costs (Tables)

Warranty Costs (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Product Warranty Table Disclosure	A rollforward of the warranty reserve is as follows (in thousands): Three Months Ended Apr 1, 2023 Balance as of December 31, 2022 $ 82,096 Warranty expense 22,633 Warranty claims (19,851) Balance as of April 1, 2023 $ 84,878

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Schedule of Long-term Debt Instruments	Apr 1, 2023 Dec 31, 2022 (in thousands) Senior secured revolving credit line $ 282,514 $ 251,805 Term loan facility 963,630 975,785 Delayed draw term loan facility 740,625 750,000 Convertible senior notes 738,816 737,918 Foreign loans 6,232 5,917 Other debt arrangement 847 899 Total debt 2,732,664 2,722,324 Less: Current maturities of long-term debt 44,247 45,583 Long-term debt $ 2,688,417 $ 2,676,741
Carrying Value And Fair Value Of Long Term Debt, Disclosure	Apr 1, 2023 Dec 31, 2022 Carrying Value Fair Value Carrying Value Fair Value Total debt excluding convertible senior notes $ 1,993,848 $ 1,998,968 $ 1,984,406 $ 1,989,871
Convertible Debt	The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes: Apr 1, 2023 Dec 31, 2022 (in thousands) Principal amounts: Principal $ 747,499 $ 747,499 Unamortized issuance costs (8,683) (9,581) Net carrying amount $ 738,816 $ 737,918
Schedule of Debt Instruments, Interest Expense	The following table summarizes total interest expense recognized related to the Convertible Notes: Three Months Ended Apr 1, 2023 Apr 2, 2022 Contractual interest expense $ 1,869 $ 1,890 Interest cost related to amortization of issuance costs 898 902 Total interest expense $ 2,767 $ 2,792

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the company’s fair value of interest rate swaps (in thousands): Condensed Consolidated Apr 1, 2023 Dec 31, 2022 Fair value Prepaid expense and other $ 7,034 $ 6,805 Fair value Other assets $ 46,720 $ 58,180
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The impact on earnings from interest rate swaps was as follows (in thousands): Three Months Ended Presentation of Gain/(loss) Apr 1, 2023 Apr 2, 2022 Gain/(loss) recognized in accumulated other comprehensive income Other comprehensive income $ (4,222) $ 38,047 Gain/(loss) reclassified from accumulated other comprehensive income (effective portion) Interest expense $ 7,009 $ (3,961)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 01, 2023
Notes To Financial Statements [Abstract]
Net Sales Summary By Segment	Net Sales Summary (dollars in thousands) Three Months Ended Apr 1, 2023 Apr 2, 2022 Sales Percent Sales Percent Business Segments: Commercial Foodservice $ 613,935 61.0 % $ 540,018 54.3 % Food Processing 173,503 17.2 123,578 12.4 Residential Kitchen 219,958 21.8 331,080 33.3 Total $ 1,007,396 100.0 % $ 994,676 100.0 %
Schedule of Segment Reporting Information, by Segment	The following table summarizes the results of operations for the company's business segments (in thousands): Commercial Food Processing Residential Kitchen Corporate and Other (1) Total Three Months Ended April 1, 2023 Net sales $ 613,935 $ 173,503 $ 219,958 $ — $ 1,007,396 Income (loss) from operations (2, 3) 136,562 34,687 21,186 (31,413) 161,022 Depreciation expense (4) 6,166 2,097 3,447 267 11,977 Amortization expense (5) 14,808 4,137 2,238 1,787 22,970 Net capital expenditures 16,906 2,203 6,214 162 25,485 Total assets $ 3,827,805 $ 1,007,569 $ 1,999,632 $ 121,131 $ 6,956,137 Three Months Ended April 2, 2022 Net sales $ 540,018 $ 123,578 $ 331,080 $ — $ 994,676 Income (loss) from operations (2, 3) 109,635 20,195 24,946 (32,212) 122,564 Depreciation expense (4) 5,839 1,358 3,985 190 11,372 Amortization expense (5) 13,491 1,945 18,129 1,805 35,370 Net capital expenditures 5,557 3,094 5,541 305 14,497 Total assets $ 3,594,208 $ 657,415 $ 2,127,119 $ 95,423 $ 6,474,165 (1) Includes corporate and other general company assets and operations. (2) Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations. (3) Restructuring expenses are allocated in operating income by segment. (4) Includes depreciation on right of use assets. (5) Includes amortization of deferred financing costs and Convertible Notes issuance costs.
Schedule of Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country	Long-lived assets, not including goodwill and other intangibles (in thousands): Apr 1, 2023 Apr 2, 2022 United States and Canada $ 476,073 $ 401,182 Asia 36,597 19,626 Europe and Middle East 149,031 147,005 Latin America 13,688 10,934 Total international $ 199,316 $ 177,565 $ 675,389 $ 578,747

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Apr. 01, 2023
Employee Retirement Plans [Abstract]
Schedule of Costs of Retirement Plans [Table Text Block]	The following table summarizes the company's net periodic pension benefit related to the AGA Group pension plans (in thousands): Three Months Ended Apr 1, 2023 Apr 2, 2022 Net Periodic Pension Benefit: Interest cost $ 11,138 $ 6,705 Expected return on assets (14,219) (19,956) Amortization of net loss 7 965 Amortization of prior service cost 631 696 $ (2,443) $ (11,590)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Accounting Policies [Abstract]
Non-cash share-based compensation expense	$ 12,232	$ 13,723
Provision for income taxes	$ 32,826	$ 26,610
Effective Income Tax Rate Reconciliation, Percent	24.90%	23.70%
Interest paid	$ 30,500	$ 18,100
Income tax payments	$ 8,000	$ 7,900
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2,000	6,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	781,000	1,688,000
Tax rate on share repurchases	1%
Corporate alternative minimum tax	15%

Financial Assets and Liabilitie

Financial Assets and Liabilities that are Measured At Fair Value and are Categorized Using Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 49,874	$ 47,242
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	1,316
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	1,316
Fair Value, Measurements, Recurring | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets	53,754	64,985
Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	49,874	47,242
Fair Value, Measurements, Recurring | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	308	474
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets	0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets	53,754	64,985
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	308	474
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	49,874	47,242
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	$ 0	$ 0

Acquisitions and Purchase Acc_3

Acquisitions and Purchase Accounting Estimated Fair Value of Assets Acquired and Liabilities Assumed - 2022 Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 2,429,167	$ 2,411,834
Business Combination, Contingent Consideration, Liability	21,178	20,529
Food Processing Group
Business Acquisition [Line Items]
Goodwill	352,789	350,303
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	1,315,887	1,309,776
Residential Kitchen
Business Acquisition [Line Items]
Goodwill	760,491	$ 751,755
2022 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	26,019
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	112,281
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	45,307
Goodwill	145,160
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	95,359
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	530
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	4,459
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-Term Debt	(20,687)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(58,637)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt	(7,966)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	21,279
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(25,798)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	294,748
Business Combination, Contingent Consideration, Liability	23,074
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	317,822
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(20,700)
Business Acquisition, Goodwill, Expected Tax Deductible Amount	20,700
Business Combination, Intangible Assets, Other than Goodwill, Expected Tax Deductible Amount	11,800
2022 Acquisitions | Tradenames And Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	42,900
2022 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 37,700
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2022 Acquisitions | Developed Technology Rights
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 6,300
2022 Acquisitions | Backlog
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	8,400
2022 Acquisitions | Book and tax difference, identifiable intangible assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	19,600
2022 Acquisitions | Book and tax difference, identifiable tangible assets and liabilities
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	1,100
2022 Acquisitions | Food Processing Group
Business Acquisition [Line Items]
Goodwill	112,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	59,100
2022 Acquisitions | Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	30,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	35,500
2022 Acquisitions | Residential Kitchen
Business Acquisition [Line Items]
Goodwill	2,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 800
2022 Acquisitions | Minimum | Developed Technology Rights
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
2022 Acquisitions | Minimum | Backlog
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 months
2022 Acquisitions | Maximum | Developed Technology Rights
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
2022 Acquisitions | Maximum | Backlog
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 months
2023 Acquisitions
Business Acquisition [Line Items]
Business Combination, Contingent Consideration, Liability	$ 700
2023 Acquisitions | Tradenames And Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	3,000
2023 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 2,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2023 Acquisitions | Developed Technology Rights
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 5,800
2023 Acquisitions | Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	3,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 11,200
2023 Acquisitions | Minimum | Developed Technology Rights
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2023 Acquisitions | Maximum | Developed Technology Rights
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Initial accounting | 2022 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 25,860
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	115,264
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	44,598
Goodwill	139,633
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	93,147
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	426
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1,420
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-Term Debt	(22,841)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(57,158)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt	(5,646)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	23,137
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(19,061)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	292,505
Business Combination, Contingent Consideration, Liability	19,105
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	311,610
Initial accounting | 2023 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	851
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	2,668
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	955
Goodwill	3,149
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,221
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(644)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(741)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	17,459
Business Combination, Contingent Consideration, Liability	741
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	18,200
Measurement period adjustment | 2022 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	159
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	(2,983)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	709
Goodwill	5,527
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	2,212
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	104
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	3,039
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-Term Debt	2,154
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(1,479)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt	(2,320)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(1,858)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(6,737)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	2,243
Business Combination, Contingent Consideration, Liability	3,969
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 6,212

Acquisitions and Purchase Acc_4

Acquisitions and Purchase Accounting Estimated Fair Value of Assets Acquired and Liabilities Assumed - 2023 Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 2,429,167	$ 2,411,834
Business Combination, Contingent Consideration, Liability	21,178	20,529
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	1,315,887	$ 1,309,776
2023 Acquisitions
Business Acquisition [Line Items]
Business Combination, Contingent Consideration, Liability	700
2023 Acquisitions | Commercial Foodservice Equipment Group
Text Block [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,200
Business Acquisition [Line Items]
Goodwill	3,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,200
2023 Acquisitions | Customer Relationships
Text Block [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	2,400
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 2,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2023 Acquisitions | Developed Technology Rights
Text Block [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 5,800
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 5,800
2023 Acquisitions | Developed Technology Rights | Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
2023 Acquisitions | Developed Technology Rights | Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Initial accounting | 2023 Acquisitions
Text Block [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 11,221
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	851
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	2,668
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	955
Goodwill	3,149
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,221
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(644)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(741)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	17,459
Business Combination, Contingent Consideration, Liability	741
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 18,200

Acquisitions and Purchase Acc_5

Acquisitions and Purchase Accounting Acquisitions and Purchase Accounting - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue	$ 1,007,624	$ 1,033,298
Business Acquisition, Pro Forma Net Income (Loss)	$ 102,272	$ 72,593
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 1.91	$ 1.33
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 1.88	$ 1.29

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,007,396	$ 994,676
United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	713,514	718,663
Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	68,302	57,133
Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	191,410	196,360
Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	34,170	22,520
Commercial Foodservice Equipment Group
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	613,935	540,018
Commercial Foodservice Equipment Group | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	452,655	390,776
Commercial Foodservice Equipment Group | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	56,526	47,382
Commercial Foodservice Equipment Group | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	86,965	88,570
Commercial Foodservice Equipment Group | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	17,789	13,290
Food Processing Group
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	173,503	123,578
Food Processing Group | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	116,900	98,288
Food Processing Group | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	8,587	3,746
Food Processing Group | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	34,059	14,207
Food Processing Group | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	13,957	7,337
Residential Kitchen
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	219,958	331,080
Residential Kitchen | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	143,959	229,599
Residential Kitchen | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,189	6,005
Residential Kitchen | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	70,386	93,583
Residential Kitchen | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,424	$ 1,893

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Revenue Recognition [Abstract]
Contract with Customer, Asset, Net, Current	$ 46,495	$ 40,438
Contract liabilities	177,190	185,824
Contract with Customer, Liability, Noncurrent	13,195	$ 12,495
Contract with Customer, Asset, Reclassified to Receivable	12,700
Contract with Customer, Liability, Revenue Recognized	43,100
Contract with Customer, Liability, Increase for Contract Acquired during the Period	47,000
Capitalized Contract Cost, Impairment Loss	$ 0

Changes in accumulated other co

Changes in accumulated other comprehensive income (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period	$ (278,472)	$ (359,084)
Other comprehensive income before reclassification	22,168	7,556
Amounts reclassified from accumulated other comprehensive income	(6,339)	3,961
Net current-period other comprehensive income	15,829	11,517
End of Period	(262,643)	(347,567)
Accumulated Other Comprehensive (income) Loss, Defined Benefit Plan, Tax	(2,100)	(38,500)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax	13,900	6,400
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	(100)	1,000
Unrealized gain on interest rate swap, tax	(2,910)	10,892
Other Comprehensive Income (Loss), Unrealized Gain (loss) Certain Investments, Tax		500
Accumulated Other Comprehensive Income (Loss), Unrealized Gain (Loss) Certain Investments, tax		900
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period	(205,345)	(97,654)
Other comprehensive income before reclassification	26,959	(27,191)
Amounts reclassified from accumulated other comprehensive income	0	0
Net current-period other comprehensive income	26,959	(27,191)
End of Period	(178,386)	(124,845)
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period	(121,701)	(249,696)
Other comprehensive income before reclassification	3,479	(6,244)
Amounts reclassified from accumulated other comprehensive income	670	0
Net current-period other comprehensive income	(2,809)	6,244
End of Period	(124,510)	(243,452)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Interest Rate Swap
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period	48,574	(13,064)
Other comprehensive income before reclassification	(1,312)	27,155
Amounts reclassified from accumulated other comprehensive income	(7,009)	3,961
Net current-period other comprehensive income	(8,321)	31,116
End of Period	40,253	18,052
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period	0	1,330
Other comprehensive income before reclassification	0	1,348
Amounts reclassified from accumulated other comprehensive income	0	0
Net current-period other comprehensive income	0	1,348
End of Period	$ 0	$ 2,678

Components of Other Comprehensi

Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Disclosure Other Comprehensive Income Additional Information [Abstract]
Net earnings	$ 99,089	$ 85,755
Currency Translation Adjustment	26,959	(27,191)
Change in unrecognized pension benefit costs, net of tax	(2,809)	6,244
Unrealized gain (loss) on interest rate swamp, net of tax	(8,321)	31,116
Comprehensive income	114,918	97,272
Unrealized gain on certain investments, net of tax of $449	$ 0	$ 1,348

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Inventory, Raw Materials, Net of Reserves	$ 595,595	$ 595,325
Inventory, Work in Process, Net of Reserves	100,248	86,083
Inventory, Finished Goods, Net of Reserves	420,521	396,321
Inventories, net	$ 1,116,364	$ 1,077,729

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2023 USD ($)
Goodwill [Line Items]
Balance beginning of period	$ 2,411,834
Goodwill acquired during the year	3,149
Measurement period adjustments to goodwill acquired in prior year	534
Goodwill, Foreign Currency Translation Gain (Loss)	13,650
Balance end of period	2,429,167
Commercial Foodservice Equipment Group
Goodwill [Line Items]
Balance beginning of period	1,309,776
Goodwill acquired during the year	3,149
Measurement period adjustments to goodwill acquired in prior year	782
Goodwill, Foreign Currency Translation Gain (Loss)	2,180
Balance end of period	1,315,887
Food Processing Group
Goodwill [Line Items]
Balance beginning of period	350,303
Goodwill acquired during the year	0
Measurement period adjustments to goodwill acquired in prior year	(248)
Goodwill, Foreign Currency Translation Gain (Loss)	2,734
Balance end of period	352,789
Residential Kitchen
Goodwill [Line Items]
Balance beginning of period	751,755
Goodwill acquired during the year	0
Measurement period adjustments to goodwill acquired in prior year	0
Goodwill, Foreign Currency Translation Gain (Loss)	8,736
Balance end of period	$ 760,491

Intangibles (Details)

Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 939,219		$ 927,875
Finite-Lived Intangible Assets, Accumulated Amortization	(525,926)		$ (503,034)
Amortization of Intangible Assets	21,200	$ 33,600
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	72,196
Finite-Lived Intangible Assets, Amortization Expense, Year Two	60,078
Finite-Lived Intangible Assets, Amortization Expense, Year Three	55,877
Finite-Lived Intangible Assets, Amortization Expense, Year Four	51,348
Finite-Lived Intangible Assets, Amortization Expense, Year Five	43,290
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	130,504
Finite-Lived Intangible Assets, Net	$ 413,293
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years 4 months 24 days		7 years 7 months 6 days
Finite-Lived Intangible Assets, Gross	$ 844,529		$ 839,811
Finite-Lived Intangible Assets, Accumulated Amortization	$ (479,402)		$ (460,885)
Backlog
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	0 years		1 month 6 days
Finite-Lived Intangible Assets, Gross	$ 8,899		$ 8,301
Finite-Lived Intangible Assets, Accumulated Amortization	$ (8,899)		$ (6,352)
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years 6 months		8 years 3 months 18 days
Finite-Lived Intangible Assets, Gross	$ 85,791		$ 79,763
Finite-Lived Intangible Assets, Accumulated Amortization	(37,625)		(35,797)
Tradenames And Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 1,377,769		$ 1,369,391

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Disclosure Accrued Expenses [Abstract]
Contract liabilities	$ 177,190	$ 185,824
Accrued payroll and related expenses	121,869	122,861
Accrued warranty	84,878	82,096
Accrued customer rebates	47,154	70,706
Accrued short-term leases	25,882	25,250
Accrued sales and other tax	25,091	24,044
Accrued professional services	16,966	19,541
Accrued agent commission	17,253	17,381
Accrued Product Liability And Workers Compensation Liability Current	11,308	11,326
Business Combination, Contingent Consideration, Liability	21,178	20,529
Other accrued expenses	115,261	91,769
Accrued expenses	$ 664,030	$ 671,327

Rollforward of Warranty Reserve

Rollforward of Warranty Reserve (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2023 USD ($)
Disclosure Rollforward Of Warranty Reserve [Abstract]
Beginning balance	$ 82,096
Warranty expense	22,633
Warranty claims	(19,851)
Ending balance	$ 84,878

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Debt Disclosure [Line Items]
Senior secured revolving credit line	$ 282,514	$ 251,805
Term loan facility	963,630	975,785
Delayed draw term loan facility	740,625	750,000
Convertible senior notes	738,816	737,918
Other Long-term Debt	847	899
Total debt	2,732,664	2,722,324
Less: Current maturities of long-term debt	44,247	45,583
Long-term debt	2,688,417	2,676,741
Foreign
Debt Disclosure [Line Items]
Foreign loans	$ 6,232	$ 5,917

Financing Arrangements Addition

Financing Arrangements Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Debt Disclosure [Line Items]
Term loan facility	$ 963,630	$ 975,785
Credit facility, outstanding	2,000,000
Letters of Credit Outstanding, Amount	$ 2,000
Credit facility, additional interest rate above LIBOR	1.625%
Debt Instrument Interest Additional Interest Above LIBOR Rate Alternative	0.625%
Debt Instrument Interest Additional Interest Above Fed Funds Rate	0.50%
Debt Instrument, Interest Rate, Increase (Decrease)	1%
Credit facility, average interest rate	4.66%
Variable commitment fee	0.25%
Term loan facility average interest rate	4.63%
Line of credit, Current and Noncurrent, Foreign	$ 6,200
Line of Credit Facility, Interest Rate at Period End	1.04%
Derivative Notional Amount, Current	$ 308,000
Derivative Notional Amount, NonCurrent	$ 740,000
Derivative Fixed Interest Rate, Current	1.95%
Term loan facility, gross	$ 968,800
Line of Credit Facility, Remaining Borrowing Capacity	$ 2,500,000
Debt Instrument Interest Additional Interest Above LIBOR Rate, elevated covenants	1.625%
Line Of Credit Facility Commitment Fee Percentage, elevated covenants	0.25%
Delayed draw term loan facility, amortization quarter percent	0.625%
Debt Instrument Interest Additional Interest Above SOFR Rate	1.625%
Debt Instrument Interest Additional Interest Above SOFR Rate Alternative	0.625%
Debt Instrument Interest Additional Interest Above SOFR Rate, elevated covenants	1.625%
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Face Amount	$ 747,499	$ 747,499
Revolving Credit Facility
Debt Disclosure [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%

Carrying Value and Estimated Ag

Carrying Value and Estimated Aggregate Fair Value of Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Debt Disclosure [Line Items]
Carrying Value	$ 2,732,664	$ 2,722,324
Derivative Fixed Interest Rate, Noncurrent	1.73%
Debt excluding convertible senior notes
Debt Disclosure [Line Items]
Carrying Value	$ 1,993,848	1,984,406
Fair Value	$ 1,998,968	$ 1,989,871

Convertible Debt (Details)

Convertible Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Debt Disclosure [Line Items]
Convertible senior notes	$ 738,816	$ 737,918
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Face Amount	747,499	747,499
Unamortized Debt Issuance Expense	$ (8,683)	$ (9,581)

Convertible Debt Interest Expen

Convertible Debt Interest Expense (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Debt Disclosure [Line Items]
Interest Expense, Debt, Excluding Amortization	$ 1,869	$ 1,890
Amortization of Debt Discount (Premium)	898	902
Interest Expense	$ 2,767	$ 2,792

Convertible Debt Additional Inf

Convertible Debt Additional Information (Details) $ in Millions	3 Months Ended
	Apr. 01, 2023 USD ($)
Debt Disclosure [Line Items]
Debt Instrument, Convertible, If-converted Value in Excess of Principal	$ 104.5
Convertible Debt
Debt Disclosure [Line Items]
Notes Payable, Fair Value Disclosure	$ 929.4

Capped Call Information (Detail

Capped Call Information (Details) - USD ($)	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Mar. 22, 2022	Dec. 22, 2021	Dec. 16, 2021	Aug. 21, 2020
Debt Disclosure [Line Items]
Premiums paid for capped call	$ 0	$ 9,655,000
2021 Capped Call Transaction One
Debt Disclosure [Line Items]
Premiums paid for capped call	54,600,000
2022 Capped Call Transaction
Debt Disclosure [Line Items]
Premiums paid for capped call	$ 9,700,000
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Capped Call Transaction, Net Cost						$ 104,700,000
Debt Instrument, Capped Call Transaction Cap Price, Per Share						$ 207.93
Convertible Debt | 2021 Capped Call Transaction One
Debt Disclosure [Line Items]
Debt Instrument, Capped Call Transaction Cap Price, Per Share					$ 216.50
Convertible Debt | 2022 Capped Call Transaction
Debt Disclosure [Line Items]
Debt Instrument, Capped Call Transaction Cap Price, Per Share			$ 229
Convertible Debt | 2021 Capped Call Transaction Two
Debt Disclosure [Line Items]
Debt Instrument, Capped Call Transaction Cap Price, Per Share				$ 225

Summary of Fair Value of Intere

Summary of Fair Value of Interest Rate Swaps (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 384,600	$ 562,500
Prepaid Expenses and Other Current Assets | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	7,034	6,805
Other Noncurrent Assets | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	$ 46,720	$ 58,180

Impact on Earnings from Interes

Impact on Earnings from Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income	$ (6,339)	$ 3,961
Interest Rate Swap | Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(4,222)	38,047
Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income	$ 7,009	$ (3,961)

Financial Instruments Additiona

Financial Instruments Additional Information (Details) $ in Millions	3 Months Ended
	Apr. 01, 2023 USD ($)
Derivative [Line Items]
Fair value of interest rate swaps liability	$ 53.8
Loss in fair value of interest rate swaps	8.3
Foreign Exchange Forward
Derivative [Line Items]
Derivative, Fair Value, Net	$ (0.3)

Net Sales Summary (Details)

Net Sales Summary (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 01, 2023	Apr. 02, 2022
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,007,396	$ 994,676
Percent		100%	100%
Income from operations	[1],[2]	$ 161,022	$ 122,564
Depreciation and amortization expense		34,947	46,742
Capital Expenditures Net		25,485	14,497
Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 613,935	$ 540,018
Percent		61%	54.30%
Income from operations	[1],[2]	$ 136,562	$ 109,635
Capital Expenditures Net		16,906	5,557
Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 173,503	$ 123,578
Percent		17.20%	12.40%
Income from operations	[1],[2]	$ 34,687	$ 20,195
Capital Expenditures Net		2,203	3,094
Corporate and Other
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		0	0
Income from operations	[1],[2],[3]	(31,413)	(32,212)
Capital Expenditures Net	[3]	162	305
Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 219,958	$ 331,080
Percent		21.80%	33.30%
Income from operations	[1],[2]	$ 21,186	$ 24,946
Capital Expenditures Net		6,214	5,541
United States and Canada
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		713,514	718,663
United States and Canada | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		452,655	390,776
United States and Canada | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		116,900	98,288
United States and Canada | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		143,959	229,599
Asia
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		68,302	57,133
Asia | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		56,526	47,382
Asia | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		8,587	3,746
Asia | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		3,189	6,005
Europe and Middle East
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		191,410	196,360
Europe and Middle East | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		86,965	88,570
Europe and Middle East | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		34,059	14,207
Europe and Middle East | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		70,386	93,583
Latin America
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		34,170	22,520
Latin America | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		17,789	13,290
Latin America | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		13,957	7,337
Latin America | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 2,424	$ 1,893
[1]Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.[2]Restructuring expenses are allocated in operating income by segment. (4) Includes depreciation on right of use assets.

Summary of Results of Operation

Summary of Results of Operations for Business Segments (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 01, 2023	Apr. 02, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,007,396	$ 994,676
Income from operations	[1],[2]	161,022	122,564
Depreciation	[3]	11,977	11,372
Amortization of Intangible Assets and Debt Issuance Costs	[4]	22,970	35,370
Capital Expenditures Net		25,485	14,497
Total assets		6,956,137	6,474,165	$ 6,874,866
Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		613,935	540,018
Income from operations	[1],[2]	136,562	109,635
Depreciation	[3]	6,166	5,839
Amortization of Intangible Assets and Debt Issuance Costs		14,808	13,491
Capital Expenditures Net		16,906	5,557
Total assets		3,827,805	3,594,208
Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		173,503	123,578
Income from operations	[1],[2]	34,687	20,195
Depreciation	[3]	2,097	1,358
Amortization of Intangible Assets and Debt Issuance Costs		4,137	1,945
Capital Expenditures Net		2,203	3,094
Total assets		1,007,569	657,415
Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		219,958	331,080
Income from operations	[1],[2]	21,186	24,946
Depreciation	[3]	3,447	3,985
Amortization of Intangible Assets and Debt Issuance Costs		2,238	18,129
Capital Expenditures Net		6,214	5,541
Total assets		1,999,632	2,127,119
Corporate and Other
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		0	0
Income from operations	[1],[2],[5]	(31,413)	(32,212)
Depreciation	[3],[5]	267	190
Amortization of Intangible Assets and Debt Issuance Costs	[4],[5]	1,787	1,805
Capital Expenditures Net	[5]	162	305
Total assets	[5]	$ 121,131	$ 95,423
[1]Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.[2]Restructuring expenses are allocated in operating income by segment. (4) Includes depreciation on right of use assets.

Long-Lived Assets by Major Geog

Long-Lived Assets by Major Geographic Region (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Apr. 02, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 675,389	$ 578,747
United States and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	476,073	401,182
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	36,597	19,626
Europe and Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	149,031	147,005
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	13,688	10,934
Total International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 199,316	$ 177,565

Employee Retirement Plans Addit

Employee Retirement Plans Additional Information (Details) - Non-US Plans - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 11,138	$ 6,705
Expected return on assets	(14,219)	(19,956)
Amortization of net loss	7	965
Amortization of prior service cost	631	696
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (2,443)	$ (11,590)

Share Repurchases (Details)

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	May 13, 2022	Nov. 07, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Shares	348,980
Stock Repurchased During Period, Value	$ 48,800
Treasury Stock Acquired, Average Cost Per Share	$ 139.80
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	1,932,394
Treasury Stock, Value, Acquired, Cost Method	$ 67,871	$ 170,013
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired	125,216
Treasury Stock, Value, Acquired, Cost Method	$ 19,500
2017 Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			2,500,000	2,500,000
Share Repurchase Program, Number of Shares Repurchased	3,067,606