Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2023

Accounting Policies [Abstract]

Schedule of Accounts, Notes Receivable and Allowance for Doubtful Accounts

	December 30,			December 31,
	2023			2022
	(in thousands)
Accounts receivable	$	131,795		$	173,763
Less: Allowance for credit losses		(14,178	)		(13,656	)
Accounts receivable, net	$	117,617		$	160,107

Information Regarding Warranty Accrual

The following provides information with respect to our warranty accrual.

Accrued Warranty		Beginning of Period		Acquired (Acquisition Adjustment)			Charged to Expense		Adjustments			Settlements			End of Period
	(in thousands)
Year ended December 30, 2023		$	15,388	$	-		$	36,261	$	(285	)	$	(36,128	)	$	15,236
Year ended December 31, 2022		$	13,504	$	(2,537	)	$	31,223	$	698		$	(27,500	)	$	15,388
Year ended January 1, 2022		$	8,001	$	4,150		$	23,637	$	(1,440	)	$	(20,844	)	$	13,504

During the third quarter of 2022, we finalized our calculation of the reserve for warranty obligations assumed in the Anlin Acquisition. As a result, we recorded an acquisition adjustment to decrease Anlin's warranty reserve by $2.5 million from its initial estimate in our then preliminary allocation of the fair value of assets acquired and liabilities assumed, resulting in an equal decrease in goodwill. In 2021, we assumed warranty reserves totaling $4.2 million in our acquisitions of Anlin and ECO.

Inventories

Inventories consist of the following:

	December 30,		December 31,
	2023		2022
	(in thousands)
Raw materials	$	108,796	$	109,679
Work in progress		1,771		916
Finished goods		1,214		2,077
Inventories	$	111,781	$	112,672

Schedule of Property, Plant and Equipment

Property, plant and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets. Depreciable assets are assigned estimated lives as follows:

Building and improvements	5 to 40 years
Leasehold improvements	Shorter of lease term or estimated useful life
Furniture and equipment	3 to 10 years
Vehicles	5 to 10 years
Computer software	3 years

Calculation of EPS and Reconciliation of Weighted Average Common Shares Used in the Calculation of Basic and Diluted EPS

The table below presents the calculation of basic and diluted earnings per share, including a reconciliation of weighted average common shares:

	Year Ended
	December 30,			December 31,			January 1,
	2023			2022			2022
	(in thousands, except per share amounts)
Net income	$	110,139		$	98,405		$	35,196
Less: Net income attributable to RNCI		(1,101	)		(1,523	)		(2,318	)
Net income attributable to the Company		109,038			96,882			32,878
Change in redemption value of RNCI		(1,637	)		2,000			(6,081	)
Net income attributable to common shareholders	$	107,401		$	98,882		$	26,797
Weighted-average common shares - Basic		58,363			59,926			59,518
Add: Dilutive shares from equity plans		337			393			540
Weighted-average common shares - Diluted		58,700			60,319			60,058
Weighted average number of common shares outstanding:
Basic	$	1.84		$	1.65		$	0.45
Diluted	$	1.83		$	1.64		$	0.45

Schedule of Supplemental Cash Flow Information and Non-Cash Activity

The table below presents supplemental cash flow information and non-cash activity for the years ended December 30, 2023, December 31, 2022, and January 1, 2022:

	Year Ended
	December 30,			December 31,			January 1,
(in thousands)	2023			2022			2022
Supplemental cash flow information:
Interest paid (net of interest income)	$	30,246		$	27,948		$	32,636
Income tax payments, net of refunds	$	40,617		$	21,499		$	12,166
Non-cash activity:
Establish right-of-use asset	$	44,424		$	29,031		$	65,678
Establish operating lease liability	$	(44,424	)	$	(29,031	)	$	(65,678	)
Property, plant and equipment additions in accounts payable	$	387		$	565		$	772