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Revenue Recognition Revenue Recognition
 6 Months Ended
Jul. 04, 2026
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 Group recognizes revenue at the point in time control transfers to its customers based on contractual shipping terms. Revenue from equipment sold under 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 FoodserviceFood ProcessingTotal
Three Months Ended July 4, 2026
United States and Canada$436,825 $125,985 $562,810 
Asia56,626 6,854 63,480 
Europe and Middle East108,386 98,205 206,591 
Latin America28,776 13,892 42,668 
Total$630,613 $244,936 $875,549 
Six Months Ended July 4, 2026
United States and Canada$885,105 $241,027 $1,126,132 
Asia103,353 17,724 121,077 
Europe and Middle East206,002 170,073 376,075 
Latin America51,689 40,484 92,173 
Total$1,246,149 $469,308 $1,715,457 
Three Months Ended June 28, 2025
United States and Canada$412,575 $124,949 $537,524 
Asia51,835 7,456 59,291 
Europe and Middle East96,244 65,223 161,467 
Latin America19,951 18,566 38,517 
Total$580,605 $216,194 $796,799 
Six Months Ended June 28, 2025
United States and Canada$826,435 $218,112 $1,044,547 
Asia100,550 11,160 111,710 
Europe and Middle East178,295 119,911 298,206 
Latin America38,042 34,917 72,959 
Total$1,143,322 $384,100 $1,527,422 
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):
Jul 4, 2026Jan 3, 2026
Contract assets$51,877 $57,039 
Contract liabilities173,023 168,381 
Non-current contract liabilities21,259 20,987 
During the six month period ended July 4, 2026, the company reclassified $26.1 million to receivables, which was included in the contract asset balance at the beginning of the period. During the six month period ended July 4, 2026, the company
recognized revenue of $84.7 million, which was included in the contract liability balance at the beginning of the period. Additions to contract liabilities representing amounts billed to customers in excess of revenue recognized to date were $105.6 million during the six month period ended July 4, 2026.
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 six month period ended July 4, 2026.