v3.22.2
ACQUISITIONS - Narrative (Details)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 26, 2022
USD ($)
acquisition
Jun. 27, 2021
USD ($)
acquisition
Jun. 26, 2022
USD ($)
acquisition
Jun. 27, 2021
USD ($)
acquisition
Dec. 31, 2021
USD ($)
acquisition
facility
Business Acquisition [Line Items]          
Total sales $ 1,475,693 $ 1,019,953 $ 2,817,868 $ 1,870,436  
Operating income 174,027 95,266 335,782 163,747  
Selling, general and administrative 90,485 60,365 166,045 111,597  
Cash payments related to contingent consideration liabilities     4,780 1,000  
Cash, net of cash acquired     150,389 252,660  
Operating lease right-of-use assets 165,631   165,631   $ 158,183
Goodwill 605,086   605,086   551,377
Identifiable intangible assets 77,890   77,890   245,924
Pro forma amortization expense 100 4,600 1,100 10,800  
Trademarks          
Business Acquisition [Line Items]          
Identifiable intangible assets 16,949   16,949   52,049
Customer relationships          
Business Acquisition [Line Items]          
Identifiable intangible assets 48,490   $ 48,490   161,652
Estimated Useful Life (in years)     10 years    
Non-compete agreements          
Business Acquisition [Line Items]          
Identifiable intangible assets 2,410   $ 2,410   4,913
Estimated Useful Life (in years)     5 years    
Patents          
Business Acquisition [Line Items]          
Identifiable intangible assets $ 10,041   $ 10,041   $ 27,310
Minimum | Patents          
Business Acquisition [Line Items]          
Estimated Useful Life (in years)     10 years    
Maximum | Patents          
Business Acquisition [Line Items]          
Estimated Useful Life (in years)     18 years    
2022 Acquisitions          
Business Acquisition [Line Items]          
Number of acquisitions | acquisition 2   3    
Total sales $ 40,800   $ 49,200    
Operating income 7,600 $ 6,000 $ 9,000 $ 6,000  
Number of immaterial acquisitions | acquisition     2    
Cash, net of cash acquired     $ 149,736    
Cash consideration     154,275    
Trade receivables 21,472   21,472    
Inventory 34,690   34,690    
Prepaid expense 1,395   1,395    
Fixed assets 6,813   6,813    
Operating lease right-of-use assets 3,516   3,516    
Identifiable intangible assets 77,890   77,890    
Accounts payable & accrued liabilities (25,282)   (25,282)    
Operating lease obligations (2,731)   (2,731)    
Deferred tax liabilities and other long-term liabilities (16,675)   (16,675)    
Goodwill 53,972   53,972    
2021 Acquisitions          
Business Acquisition [Line Items]          
Number of acquisitions | acquisition   3   7 13
Total sales   $ 56,700   $ 62,100  
Number of immaterial acquisitions | acquisition         7
Cash, net of cash acquired     509,339    
Cash consideration     524,001    
Trade receivables 26,218   26,218    
Inventory 69,343   69,343    
Prepaid expense 13,740   13,740    
Fixed assets 55,470   55,470    
Operating lease right-of-use assets 25,530   25,530    
Identifiable intangible assets 245,924   245,924    
Accounts payable & accrued liabilities (32,326)   (32,326)    
Operating lease obligations (20,012)   (20,012)    
Deferred tax liabilities and other long-term liabilities (1,996)   (1,996)    
Goodwill 147,628   $ 147,628    
2021 Acquisitions | Minimum          
Business Acquisition [Line Items]          
Contingent consideration, performance period     1 year    
2021 Acquisitions | Maximum          
Business Acquisition [Line Items]          
Contingent consideration, performance period     3 years    
Certain Acquisitions          
Business Acquisition [Line Items]          
Number of acquisitions | acquisition     1   6
Fair value of estimated contingent consideration payments 10,700   $ 10,700   $ 12,300
Contingent consideration arrangements maximum payments amount 15,000   15,000    
Selling, general and administrative 1,900   3,000    
Cash payments related to contingent consideration liabilities 1,000   6,400    
Certain Acquisitions | Accrued liabilities          
Business Acquisition [Line Items]          
Fair value of estimated contingent consideration payments 7,200   7,200   7,000
Certain Acquisitions | Other Noncurrent Liabilities          
Business Acquisition [Line Items]          
Fair value of estimated contingent consideration payments 3,500   3,500   $ 5,300
Rockford Corporation          
Business Acquisition [Line Items]          
Cash consideration     132,600    
Trade receivables 20,600   20,600    
Inventory 32,700   32,700    
Prepaid expense 1,400   1,400    
Fixed assets 5,300   5,300    
Operating lease right-of-use assets 2,900   2,900    
Identifiable intangible assets 70,000   70,000    
Accounts payable & accrued liabilities (24,300)   (24,300)    
Operating lease obligations (2,900)   (2,900)    
Deferred tax liabilities and other long-term liabilities (16,700)   (16,700)    
Goodwill 43,500   43,500    
Rockford Corporation | Trademarks          
Business Acquisition [Line Items]          
Identifiable intangible assets 15,400   15,400    
Rockford Corporation | Customer relationships          
Business Acquisition [Line Items]          
Identifiable intangible assets 42,000   42,000    
Rockford Corporation | Non-compete agreements          
Business Acquisition [Line Items]          
Identifiable intangible assets 2,100   2,100    
Rockford Corporation | Patents          
Business Acquisition [Line Items]          
Identifiable intangible assets $ 10,500   $ 10,500    
Estimated Useful Life (in years)     15 years    
Alpha Systems LLC          
Business Acquisition [Line Items]          
Number of facilities acquired | facility         9