Cash, Cash Equivalents and Restricted Cash

6 Months Ended

Jul. 02, 2022

Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]

Restricted Assets Disclosure

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet that sum to the total of the same amounts shown in the condensed consolidated statement of cash flows.

(In thousands)	July 2, 2022		December 31, 2021
Cash and cash equivalents	$	252,950	$	402,565
Restricted cash	2,490,281		—
Total cash, cash equivalents and restricted cash	$	2,743,231	$	402,565

The restricted cash represents cash held in an escrow account designated to fund the CMC Materials acquisition, further described in footnote 3. The Company deposited the net proceeds from the offerings of the Senior Unsecured Notes due 2030 and Senior Secured Notes due 2029, further described in footnote 7, along with certain additional funds, into an escrow account designated for the purchase. The restricted cash is not available to the Company for general corporate purposes.