Recently Issued Accounting Pronouncements

12 Months Ended

Jan. 02, 2021

Accounting Changes And Error Corrections [Abstract]

Recently Issued Accounting Pronouncements

21. Recently Issued Accounting Pronouncements

In December 2019, the FASB issued updated guidance simplifying the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 as well as by improving consistent application of GAAP by clarifying and amending existing guidance. The effective date of the new guidance for public companies is for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.