0001159167-22-000009 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Current assets:
Cash and cash equivalents	$ 201,457	$ 432,635
Short term investments	33,044	51,081
Accounts receivable, net	160,642	170,526
Inventory	333,296	181,756
Other current assets	61,094	45,223
Total current assets	789,533	881,221
Property and equipment, net	78,887	76,584
Operating lease right-of-use assets	37,609	43,682
Deferred tax assets	37,945	33,404
Goodwill	173,292	125,872
Intangible assets, net	28,410	9,902
Other assets	38,753	19,063
Total assets	1,184,429	1,189,728
Current liabilities:
Accounts payable	251,298	165,779
Accrued expenses	132,618	131,388
Deferred revenue and customer advances	11,767	10,400
Total current liabilities	395,683	307,567
Operating lease liabilities	43,462	50,485
Deferred tax liabilities	3,250	705
Other long-term liabilities	25,311	26,537
Total long-term liabilities	72,023	77,727
Total liabilities	467,706	385,294
Commitments and contingencies (Note 13)
Preferred stock, 5,000 shares authorized and none outstanding	0	0
Common stock, $0.01 par value; 100,000 shares authorized; 27,006 and 28,184 shares issued and outstanding, respectively	270	282
Additional paid-in capital	222,653	205,256
Retained earnings	485,710	599,389
Accumulated other comprehensive income (loss)	8,090	(493)
Total stockholders’ equity	716,723	804,434
Total liabilities and stockholders’ equity	$ 1,184,429	$ 1,189,728

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 01, 2022	Jan. 02, 2021
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	27,006,000	28,184,000
Common stock, shares outstanding (in shares)	27,006,000	28,184,000

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Revenue	$ 1,564,987	$ 1,430,390	$ 1,214,010
Cost of product revenue	1,013,465	758,241	658,362
Amortization of acquired intangible assets	1,223	1,920	11,721
Total cost of revenue	1,014,688	760,161	670,083
Gross profit	550,299	670,229	543,927
Operating expenses:
Research and development	161,331	156,670	141,607
Selling and marketing	289,848	265,475	231,548
General and administrative	99,190	100,770	83,103
Amortization of acquired intangible assets	1,030	992	1,051
Total operating expenses	551,399	523,907	457,309
Operating (loss) income	(1,100)	146,322	86,618
Other income, net	29,384	41,593	12,215
Income before income taxes	28,284	187,915	98,833
Income tax (benefit) expense	(2,106)	40,847	13,533
Net income	$ 30,390	$ 147,068	$ 85,300
Net income per share:
Basic income per share (in usd per share)	$ 1.10	$ 5.23	$ 3.04
Diluted income per share (in usd per share)	$ 1.08	$ 5.14	$ 2.97
Number of shares used in per share calculations:
Basic	27,687	28,101	28,097
Diluted	28,162	28,618	28,735

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 30,390	$ 147,068	$ 85,300
Net unrealized gains (losses) on cash flow hedges, net of tax	23,715	(13,932)
Other comprehensive income (loss), net of tax:
Net foreign currency translation adjustments	(11,730)	14,045	(3,435)
Net unrealized gains (losses) on cash flow hedges, net of tax	23,715	(13,932)
Net unrealized gains (losses) on cash flow hedges, net of tax			12,363
Net gains on cash flow hedge reclassified into earnings, net of tax	(3,398)	(3,587)	(1,418)
Net unrealized (losses) gains on marketable securities, net of tax	(4)	(28)	247
Total comprehensive income	$ 38,973	$ 143,566	$ 93,057

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning balance, shares (in shares) at Dec. 29, 2018		27,788,000
Beginning balance at Dec. 29, 2018	$ 535,322	$ 278	$ 172,771	$ 367,021	$ (4,748)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		187,000
Issuance of common stock under employee stock plans	7,147	$ 2	7,145
Vesting of restricted stock units (in shares)		436,000
Vesting of restricted stock units	0	$ 5	(5)
Stock-based compensation	23,744		23,744
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(59,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(7,277)	$ (1)	(7,276)
Other comprehensive income	7,757				7,757
Directors' deferred compensation	76		76
Net income	85,300			85,300
Ending balance, shares (in shares) at Dec. 28, 2019		28,352,000
Ending balance at Dec. 28, 2019	652,069	$ 284	196,455	452,321	3,009
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		151,000
Issuance of common stock under employee stock plans	5,584	$ 1	5,583
Vesting of restricted stock units (in shares)		391,000
Vesting of restricted stock units	0	$ 4	(4)
Stock-based compensation	29,975		29,975
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(46,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(1,845)		(1,845)
Other comprehensive income	(3,502)				(3,502)
Directors' deferred compensation	$ 85		85
Stock repurchases (in shares)	(664,000)
Stock repurchases	$ (25,000)	$ (7)	(24,993)
Net income	$ 147,068			147,068
Ending balance, shares (in shares) at Jan. 02, 2021	28,184,000
Ending balance at Jan. 02, 2021	$ 804,434	$ 282	205,256	599,389	(493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		143,000
Issuance of common stock under employee stock plans	6,719	$ 1	6,718
Vesting of restricted stock units (in shares)		369,000
Vesting of restricted stock units	0	$ 3	(3)
Stock-based compensation	21,694		21,694
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(45,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(5,161)		(5,161)
Other comprehensive income	8,583				8,583
Directors' deferred compensation	64		64
Stock repurchases (in shares)		(1,645,000)
Stock repurchases	(150,000)	$ (16)	(5,915)	(144,069)
Net income	$ 30,390			30,390
Ending balance, shares (in shares) at Jan. 01, 2022	27,006,000
Ending balance at Jan. 01, 2022	$ 716,723	$ 270	$ 222,653	$ 485,710	$ 8,090

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Cash flows from operating activities:
Net income	$ 30,390	$ 147,068	$ 85,300
Adjustments to reconcile net income to net cash (used in) provided by operating activities, net of the effects of acquisitions:
Depreciation and amortization	33,309	34,762	37,159
Gain (Loss) on Investments	30,063	43,817	8,439
Stock-based compensation	21,694	29,975	23,744
Deferred income taxes, net	(6,934)	13,837	(11,118)
Other	5,940	6,467	7,267
Changes in operating assets and liabilities — (use) source
Accounts receivable	10,290	(21,893)	13,064
Inventory	(151,193)	(24,535)	7,307
Other assets	(19,868)	(15,804)	(3,310)
Accounts payable	82,289	48,699	(20,536)
Accrued expenses and other liabilities	(7,824)	57,289	(386)
Net cash (used in) provided by operating activities	(31,970)	232,048	130,052
Cash flows from investing activities:
Additions of property and equipment	(29,928)	(31,599)	(35,337)
Purchase of investments	(10,811)	(4,150)	(5,436)
Proceeds from sale of equity investments	0	0	9,787
Cash paid for business acquisition, net of cash acquired	(71,357)	0	(2,817)
Sales and maturities of investments	63,976	13,500	12,880
Net cash used in investing activities	(48,120)	(22,249)	(20,923)
Cash flows from financing activities:
Proceeds from employee stock plans	6,719	5,584	7,147
Income tax withholding payment associated with restricted stock vesting	(5,161)	(1,845)	(7,277)
Stock repurchases	(150,000)	(25,000)	0
Net cash used in financing activities	(148,442)	(21,261)	(130)
Effect of exchange rate changes on cash and cash equivalents	(2,646)	4,705	20
Net (decrease) increase in cash and cash equivalents	(231,178)	193,243	109,019
Cash and cash equivalents, at beginning of period	432,635	239,392	130,373
Cash and cash equivalents, at end of period	201,457	432,635	239,392
Supplemental disclosure of cash flow information
Cash paid for income taxes	$ 20,375	$ 19,929	$ 22,582

Nature of the Business

12 Months Ended

Jan. 01, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of the Business


1.			Nature of the Business

iRobot Corporation ("iRobot" or the "Company") designs, builds and sells robots and home innovations that make life better. The Company's portfolio of home robots and smart home devices features proprietary technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. iRobot's durable and high-performing robots are designed using the close integration of software, electronics and hardware. The Company’s revenue is primarily generated from product sales through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers and through value-added distributors and resellers worldwide.

Summary of Significant Accounting Policies

12 Months Ended

Jan. 01, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


2.			Summary of Significant Accounting Policies

Basis of Presentation and Foreign Currency Translation

The accompanying consolidated financial statements include those of iRobot and its subsidiaries, after elimination of all intercompany balances and transactions. iRobot has prepared the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP").

For the Company's subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated into U.S. dollars at period-end foreign exchange rates. Revenues and expenses are translated into U.S. dollars at the average foreign exchange rates for the period. Translation adjustments are excluded from the determination of net income and are recorded in accumulated other comprehensive income (loss), a separate component of stockholders' equity.

The Company operates and reports using a 52-53 week fiscal year ending on the Saturday closest to December 31. Accordingly, the Company’s fiscal quarters end on the Saturday that falls closest to the last day of the third month of each quarter. As used in the Annual Report on Form 10-K, "fiscal 2021" refers to the 52-week fiscal year ending January 1, 2022, "fiscal 2020" refers to the 53-week fiscal year ended January 2, 2021, and "fiscal 2019" refers to the 52-week fiscal year ended December 28, 2019.

Use of Estimates

The preparation of these financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses. These estimates and judgments, include but are not limited to, revenue recognition, including performance obligations, standalone selling price, variable consideration and other obligations such as sales incentives and product returns; allowance for credit losses; accounting for business combinations; impairment of goodwill and long-lived assets; valuation of non-marketable equity investments; product warranties; loss contingencies; accounting for stock-based compensation including performance-based assessments; and accounting for income taxes and related valuation allowances. The Company bases its estimates and assumptions on historical experience, market participant fair value considerations, projected future cash flows, current conditions, including estimated economic implications of the COVID-19 pandemic and various other factors that the Company believes are reasonable under the circumstances. Actual results and outcomes may differ from the Company’s estimates and assumptions.

Cash and Cash Equivalents

The Company considers all highly liquid investments with maturity of three months or less at the time of purchase to be cash and cash equivalents. The Company invests its excess cash primarily in money market funds or demand deposit accounts of major financial institutions. Accordingly, its cash and cash equivalents are subject to minimal credit and market risk. At January 1, 2022 and January 2, 2021, cash and cash equivalents totaled $201.5 million and $432.6 million, respectively. These cash and cash equivalents are carried at cost, which approximates fair value.

Short Term Investments

The Company's short term investments include marketable equity securities with readily determinable fair value and debt securities. The fair value of investments is determined based on quoted market prices at the reporting date for those instruments. The change in fair value of the Company's investments in marketable equity securities is recognized as unrealized gains and losses in other income, net at the end of each reporting period. The Company’s investments in debt securities were classified as available-for-sale and were recorded at fair value with any unrealized gain or loss recorded as an element of stockholders’ equity. Investments consisted of the following (in thousands):


	January 1, 2022				January 2, 2021
	Cost		Fair Market Value		Cost		Fair Market Value
Marketable equity securities	$	23,286	$	33,044	$	46,578	$	47,576
Corporate and government bonds	—		—		3,498		3,505
Total short term investments	$	23,286	$	33,044	$	50,076	$	51,081

On July 22, 2021, Matterport, Inc. ("Matterport"), of which the Company held non-marketable equity securities, completed a merger with a special purpose acquisition company and began trading on Nasdaq under the symbol "MTTR." Prior to the merger, the Company accounted for the shares in Matterport as equity securities without readily determinable fair value. Upon consummation of the merger, the Company received 1.6 million shares of MTTR. The post merger Matterport shares received are subject to time based contractual sales restrictions which expire in January 2022. These shares are accounted for as marketable equity securities and measured at fair value, less a temporary discount for lack of marketability, with unrealized gains and losses recognized in other income, net at the end of each reporting period. During the fiscal year ended January 1, 2022, the Company recorded gains of $30.2 million associated with the Matterport investment. As of January 1, 2022, the shares in MTTR were valued at $33.0 million and are recorded in short term investments on the consolidated balance sheet. Subsequent to fiscal 2021, the Company sold all MTTR shares and received a net proceed of $16.2 million and recognized a loss of $16.8 million.

On July 1, 2020, Teladoc Health, Inc. ("Teladoc") closed on its previously announced acquisition of InTouch Health, of which the Company held non-marketable equity securities. In exchange for its shares of InTouch Health, the Company received 0.2 million shares of Teladoc and recorded a gain of $38.6 million to other income, net during the fiscal year ended January 2, 2021. The Teladoc shares received were subject to time based contractual sales restrictions which expired in January 2021. These shares were accounted for as marketable equity securities and measured at fair value with unrealized gains and losses recognized in other income, net at the end of each reporting period. As a result, the Company entered into an economic hedge in July 2020 to reduce the Company's exposure to stock price fluctuations during the restricted period. During the first quarter of 2021, the Company received net proceeds of $51.5 million related to the sale of Teladoc shares with gross proceeds of $60.1 million, net of settlement payment of $8.6 million for the related economic hedge.

Allowance for Credit Losses

The Company maintains an allowance for credit losses for accounts receivable using an expected loss model that requires the use of forward-looking information to calculate credit loss estimate. The expected loss methodology is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, customer concentrations, current and future economic and market conditions and age of the receivable. Although the Company historically has not experienced significant write-offs resulting from credit losses in accounts receivable, the COVID-19 pandemic has caused uncertainty in some customer accounts. As of January 1, 2022 and January 2, 2021, the Company had an allowance for credit losses of $4.6 million and $4.8 million, respectively. During fiscal 2021 and 2020, the Company recorded a bad debt recovery of $0.2 million and a bad debt expense of $3.6 million, respectively, and is included in general and administrative expenses in the accompanying consolidated statements of income.

Accounts receivable allowances

Allowance for product returns: The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns.

Allowance for other credits and incentives: The Company records an allowance related to customer incentives such as discounts, promotions, price protection and other support programs. The allowance is based on specific terms and conditions included in customer agreements, specific programs and historical experience.

Activity related to accounts receivable allowances was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Allowance for product returns
Balance at beginning of period	$	64,343	$	55,191	$	53,920
Provision	61,014		68,028		69,488
Deduction	(68,518)		(58,876)		(68,217)

Balance at end of period	$	56,839	$	64,343	$	55,191

Allowance for other credits and incentives
Balance at beginning of period	$	142,173	$	134,046	$	97,737
Provision	267,821		285,139		284,084
Deduction	(308,388)		(277,012)		(247,775)

Balance at end of period	$	101,606	$	142,173	$	134,046

Inventory

Inventory primarily consists of finished goods and, to a lesser extent, components, which are purchased from contract manufacturers. Inventory is stated at the lower of cost or net realizable value with cost being determined using the standard cost method, which approximates actual costs determined on the first-in, first-out basis. Inventory costs primarily consist of materials, inbound freight, import duties, tariffs, and other handling fees. The Company writes down its inventory for estimated obsolescence or excess inventory based upon assumptions around market conditions and estimates of future demand. Net realizable value is the estimated selling price less estimated costs of completion, disposal and transportation. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue and have not been significant for the periods presented.

Tariff Refunds

From September 2018 until April 2020, our Roomba products were subject to Section 301 tariffs. In April 2020, we were granted a temporary exclusion from Section 301 List 3 tariffs by the United States Trade Representative ("USTR"). This exclusion, as extended in August 2020, eliminated the 25% tariff on Roomba products imported from China until December 31, 2020 and entitled us to a refund of approximately $57.0 million in tariffs paid since the date the Section 301 List 3 tariffs were imposed. The Company recognized a benefit of $36.5 million from tariff refund during fiscal year 2020. Effective January 1, 2021, the 25% Section 301 tariff again applies to our Roomba products imported from China. For the fiscal year ended January 1, 2022, the incremental Section 301 tariff cost was $48.3 million.

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Expenditures for additions and improvements that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. As assets are retired or sold, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized.

Capitalization of Cloud Computing Arrangements

The Company incurs costs to implement cloud computing arrangements that are hosted by third-party vendors. Beginning in fiscal 2020, and continuing through fiscal 2021, the Company began investing and implementing various new direct-to-consumer and marketing technology and tools. Implementation costs incurred during the application development stage are capitalized until the software is ready for its intended use. The costs are then amortized on a straight-line basis over the term of the associated hosting arrangement and are recognized as an operating expense within the consolidated statements of income. Capitalized costs were $7.4 million and $0.7 million as of January 1, 2022 and January 2, 2021, respectively, and are reported as a component of other assets on the Company's consolidated balance sheets.

Business Combinations

The Company allocates the purchase price of each acquisition to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the date of acquisition. Goodwill is measured as the excess of the purchase price over the value of net identified assets acquired. While the Company uses its best estimates and assumptions to accurately value assets acquired, liabilities assumed, and contingent consideration, where applicable, at the acquisition date, its estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the measurement period, which is generally one year from the acquisition date, any adjustment to the assets acquired and liabilities assumed is recorded against goodwill in the period in which the amount is determined. Any adjustment identified subsequent to the measurement period or the Company's final determination of estimated fair value, whichever comes first, is included in operating results in the period in which the adjustment is determined.

Goodwill and Other Long-Lived Assets

Goodwill represents the excess of the purchase price in a business combination over the fair value of the net tangible and intangible assets acquired. Goodwill is not amortized but rather is assessed for impairment at the reporting unit level annually during the fourth quarter of each fiscal year or more frequently if the Company believes indicators of impairment exist. Goodwill impairment, if any, is determined by comparing the reporting unit's fair value to its carrying value. An impairment loss is recognized in an amount equal to the excess of the reporting unit's carrying value over its fair value, up to the amount of goodwill allocated to the reporting unit.

Other long-lived assets primarily consist of property and equipment, operating lease right-of-use assets and intangible assets. The Company periodically evaluates the recoverability of other long-lived assets whenever events and changes in circumstances, such as reductions in demand or significant economic slowdowns in the industry, indicate that the carrying amount of an asset may not be fully recoverable. When indicators of impairment are present, the carrying values of the asset group are evaluated in relation to the future undiscounted cash flows of the underlying business. The net book value of the underlying asset is adjusted to fair value if the sum of the expected discounted cash flows is less than book value. Fair values are based on estimates of market prices and assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates, reflecting varying degrees of perceived risk.

The impairment assessment of goodwill and other long-lived assets involves significant estimates and assumptions, which may be unpredictable and inherently uncertain. These estimates and assumptions include identification of reporting units and asset groups, long-term growth rates, profitability, estimated useful lives, comparable market multiples, and discount rates. Any changes in these assumptions could impact the result of the impairment assessment. There was no impairment of goodwill or other long-lived assets during fiscal 2021, 2020 and 2019.

Strategic Investments

The Company holds non-marketable equity securities as part of its strategic investments portfolio. The Company classifies the majority of these securities as equity securities without readily determinable fair values and measures these investments at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. These investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires the Company's judgment due to the absence of market prices and inherent lack of liquidity. The Company monitors non-marketable equity investments for impairment indicators, such as deterioration in the investee's financial condition and business forecasts and lower valuations in recent or proposed financings. The estimated fair value is based on quantitative and qualitative factors including, but not limited to, subsequent financing activities by the investee and projected discounted cash flows. Changes in fair value of non-marketable equity investments are recorded in other income, net on the consolidated statements of income. At January 1, 2022 and January 2, 2021, the Company's equity securities without readily determinable fair values totaled $16.3 million and $17.4 million, respectively, and are included in other assets on the consolidated balance sheets.

Warranty

The Company generally provides a one-year warranty on all of its products except in countries where a two-year warranty is required against defects in materials and workmanship. The Company's standard warranty provides for repair or replacement of the associated products during the warranty period. The Company records estimated warranty costs in the period the related revenue is recognized based on historical experience, expectations of future costs to repair or replace including freight and knowledge of specific product failures outside the Company's historical experience. Actual results could differ from these estimates, which could cause increases or decreases to the warranty reserves in future periods.

Financial Instruments and Hedging Activities

The Company utilizes derivative instruments to partially offset its financial risks to foreign exchange risk. The Company does not engage in speculative hedging activity. In order to account for a derivative instrument as a cash flow hedge, specific criteria must be met, including: (i) ensuring at the inception of the hedge that formal documentation exists for both the hedging relationship and the entity’s risk management objective and strategy for undertaking the hedge and (ii) at the inception of the hedge and on an ongoing basis, the hedging relationship is expected to be highly effective in achieving offsetting changes in fair value attributed to the hedged risk during the period that the hedge is designated. Cash flow hedge amounts that are included in the assessment of hedge effectiveness are deferred in accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges are recognized as a component of net sales in the same period as the related revenue is recognized. Absent meeting these criteria, changes in fair value are recognized in other income, net, in the consolidated statements of income. The Company may also enter into non-designated foreign currency contracts to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies. Changes in fair value are recognized in other income, net, in the consolidated statements of income.

Fair Value Measurements

The Company accounts for certain assets and liabilities at fair value. The fair value is established based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. These tiers include:

•Level 1 - observable inputs such as quoted prices for identical instruments in active markets;

•Level 2 - inputs other than quoted prices in active markets that are either directly or indirectly observable; and

•Level 3 - unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Stock-Based Compensation

The Company accounts for stock-based compensation through recognition of the fair value of the stock-based compensation as a charge against earnings. The fair value for restricted stock units is based on the closing share price of the Company's common stock on the date of grant. For performance-based restricted stock units, the compensation cost is recognized based on the number of units expected to vest upon the achievement of the performance conditions. The Company recognizes stock-based compensation as an expense on a straight-line basis, over the requisite service period. The Company accounts for forfeitures as they occur, rather than applying an estimated forfeiture rate.

Research and Development

Costs incurred in the research and development of the Company’s products are expensed as incurred.

Advertising Expense

Advertising costs are expensed as incurred and included in selling and marketing expenses. During the years ended January 1, 2022, January 2, 2021 and December 28, 2019 advertising expense totaled $147.2 million, $145.2 million and $125.0 million, respectively.

Income Taxes

Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis using enacted tax rates in effect in the years in which those temporary differences are expected to be recovered or settled in each jurisdiction. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that the related benefits will not be realized. The Company regularly reviews the deferred tax assets for recoverability considering historical profitability, projected future taxable income, future reversals of existing taxable temporary differences, as well as feasible tax planning strategies in each jurisdiction. As of January 1, 2022, January 2, 2021 and December 28, 2019, the Company had a valuation allowance of $13.1 million, $7.6 million and $3.8 million, respectively, for certain deferred tax assets for which the Company believes do not meet the "more likely than not" criteria for recognition.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in the income tax provision.

Concentration of Credit Risk and Significant Customers

Financial instruments which potentially expose the Company to concentrations of credit risk consist of accounts receivable and cash and cash equivalents. Management believes its credit policies are prudent and reflect normal industry terms and business risk. At January 1, 2022 and January 2, 2021, one customer accounted for 14.5% and 17.6% , respectively, of the Company's accounts receivable balance. For the fiscal years ended January 1, 2022, January 2, 2021, and December 28, 2019, there was one customer that accounted for 10% or more of total revenue, representing 21.8%, 22.7% and 21.3%, of the Company's total revenue, respectively.

The Company maintains its cash in bank deposit accounts and money market funds at high quality financial institutions. The individual balances, at times, may exceed federally insured limits. These deposits may be redeemed upon demand, and management believes that the financial institutions that hold the Company’s cash and cash equivalents are financially sound and, accordingly, minimal credit risk exists with respect to cash and cash equivalents.

Net income per share:

Basic income per share is calculated using the Company's weighted-average outstanding common shares. Diluted income per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method.

The following table presents the calculation of both basic and diluted net income per share (in thousands, except per share amounts):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Net income	$	30,390	$	147,068	$	85,300
Weighted-average shares outstanding	27,687		28,101		28,097
Dilutive effect of employee stock plans	475		517		638
Diluted weighted-average shares outstanding	28,162		28,618		28,735
Basic income per share	$	1.10	$	5.23	$	3.04
Diluted income per share	$	1.08	$	5.14	$	2.97

Employee stock awards representing approximately 0.1 million, 0.2 million and 0.2 million shares of common stock for the fiscal years ended January 1, 2022, January 2, 2021 and December 28, 2019, respectively, were excluded from the computation of diluted earnings per share as their effect would have been antidilutive.

Recently Adopted Accounting Standards

In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2019-12, "Income Taxes - Simplifying the Accounting for Income Taxes." The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles as well as clarifying and amending existing guidance to improve consistent application. The amendments to this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. Depending on the amendment, adoption may be applied on the retrospective, modified retrospective or prospective basis. The Company adopted the standard in the first quarter of 2021 and the adoption had no impact on the Company's consolidated financial statements.

Recently Issued Accounting Standards

In October 2021, the FASB issued ASU No. 2021-08, "Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." The ASU improves the accounting for acquired revenue

contracts with customers by providing specific guidance on recognition of contract asset and liability from revenue contracts in a business combination. The amendments to this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company intends to adopt the ASU effective January 1, 2023, and does not expect a material impact to its consolidated financial statements.

From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption.

Revenue Recognition (Notes)

12 Months Ended

Jan. 01, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer


3.			Revenue Recognition

The Company primarily derives its revenue from the sale of consumer robots and accessories. The Company sells products directly to consumers through online stores and indirectly through resellers and distributors. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. Revenue is allocated to distinct performance obligations and is recognized net of allowances for returns and other credits and incentives. Revenue is recognized only to the extent that it is probable that a significant reversal of revenue will not occur and when collection is considered probable. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from revenue. Shipping and handling expenses are considered fulfillment activities and are expensed as incurred.

Frequently, the Company’s contracts with customers contain multiple promised goods or services. Such contracts may include any of the following, the consumer robot, downloadable app, cloud services, accessories on demand, potential future unspecified software upgrades, premium customer care and extended warranties. For these contracts, the Company accounts for the promises separately as individual performance obligations if they are distinct. Performance obligations are considered distinct if they are both capable of being distinct and distinct within the context of the contract. In determining whether performance obligations meet the criteria for being distinct, the Company considers a number of factors, such as the degree of interrelation and interdependence between obligations, and whether or not the good or service significantly modifies or transforms another good or service in the contract. The Company’s consumer robots are highly dependent on, and interrelated with, the embedded software and cannot function without the software. As such, the consumer robots are accounted for as a single performance obligation. The Company has determined that the app, cloud services and potential future unspecified software upgrades represent one performance obligation to the customer to enhance the functionality and interaction with the robot (referred to collectively as "Cloud Services"). Other services and support are considered distinct and therefore are treated as separate performance obligations.

The Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices ("SSPs"). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the facts and circumstances related to each performance obligation including, market data or the estimated cost of providing the products or services. The transaction price allocated to the robot is recognized as revenue at a point in time when control is transferred, generally as title and risk of loss pass, and when collection is considered probable. The transaction price allocated to the Cloud Services is deferred and recognized on a straight-line basis over the estimated term of the Cloud Services. Other services and support are recognized over their service periods. For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of January 1, 2022 and January 2, 2021 was $20.9 million and $11.5 million, respectively. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.

The Company’s products generally carry a one-year or two-year limited warranty that promises customers that delivered products are as specified. The Company does not consider these assurance-type warranties as a separate performance obligation and therefore, the Company accounts for such warranties under ASC 460, "Guarantees." For contracts with the right to upgrade to a new product after a specified period of time, the Company accounts for this trade-in right as a guarantee obligation under ASC 460. The total transaction price is reduced by the full amount of the trade-in right's fair value and the remaining transaction price is allocated between the performance obligations within the contract.

The Company provides limited rights of returns for direct-to-consumer sales generated through its online stores and certain resellers and distributors. The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns. In addition, the Company may provide other credits or incentives which are accounted for as variable consideration when estimating the amount of revenue to recognize. Where appropriate, these estimates take into consideration relevant factors such as the Company’s historical experience, current contractual requirements, specific known market events and forecasted inventory level in the channels. Overall, these reserves reflect the Company’s best estimates, and the actual amounts of consideration ultimately received may differ from the Company’s estimates. Returns and credits are estimated at the time of sale and updated at the end of each reporting period as additional information becomes available. As of January 1, 2022, the Company has reserves for product returns of $56.8 million and other credits and incentives of $101.6 million. As of January 2, 2021, the Company had reserves for product returns of $64.3 million and other credits and incentives of $142.2 million. The Company regularly evaluates the adequacy of its estimates for product returns and other credits and incentives. Future market conditions and product transitions may require the Company to take action to change such programs and related estimates. When the variables used to estimate these reserves change, or if actual results differ significantly from the estimates, the Company would be required to increase or reduce revenue to reflect the impact. During fiscal 2021 and 2020, changes to these estimates related to performance obligations satisfied in prior periods were not material.

Disaggregation of Revenue

The following table provides information about disaggregated revenue by geographical region (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
United States	$	754,173	$	744,648	$	603,618
EMEA	470,475		386,007		357,760
Japan	222,772		193,304		160,875
Other	117,567		106,431		91,757
Total revenue	$	1,564,987	$	1,430,390	$	1,214,010

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers (in thousands):


	January 1, 2022		January 2, 2021
Accounts receivable, net	$	155,659	$	170,526
Unbilled receivables	8,747		—
Contract liabilities	22,996		17,700

The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables represent revenue recognized in excess of billings. Contract liabilities include deferred revenue associated with the Cloud Services and extended warranty plans as well as prepayments received from customers in advance of product shipments. The change in the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. During fiscal 2021and 2020, the Company recognized $12.5 million and $5.5 million, respectively, of the contract liability balance as revenue upon transfer of the products or services to customers.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Leases (Notes)

12 Months Ended

Jan. 01, 2022

Leases [Abstract]

Lessee, Operating Leases [Text Block]


4.			Leases

The Company's leasing arrangements primarily consist of operating leases for its facilities which include corporate, sales and marketing and research and development offices and equipment under various non-cancelable lease arrangements. For leases with terms greater than 12 months, the Company records the related right-of-use asset and lease obligation at the present value of lease payments over the term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. The Company's leases typically include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. The Company does not separate lease and non-lease components of contracts and excludes all variable lease

payments from the measurement of right-of-use assets and lease liabilities. The Company's variable lease payments generally include usage based nonlease components. The Company's lease agreements do not contain any residual value guarantees or restrictive covenants.

The Company's existing leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments. At January 1, 2022, the Company's weighted average discount rate was 3.58%, while the weighted average remaining lease term was 7.61 years.

The components of lease expense were as follows (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Operating lease cost	$	8,510	$	9,363	$	8,777
Variable lease cost	3,633		3,583		4,096
Total lease cost	$	12,143	$	12,946	$	12,873

Supplemental cash flow information related to leases was as follows (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,762	$	9,862	$	9,540
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	—	$	2,310	$	53,227

Maturities of operating lease liabilities were as follows as of January 1, 2022 (in thousands):



2022	$	7,895
2023	7,623
2024	6,567
2025	6,599
2026	6,680
Thereafter	21,849
Total minimum lease payments	$	57,213
Less: imputed interest	7,531
Present value of future minimum lease payments	$	49,682
Less: current portion of operating lease liabilities (Note 7)	6,220
Long-term lease liabilities	$	43,462

Property and Equipment

12 Months Ended

Jan. 01, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment


5.			Property and Equipment

Property and equipment consists of the following (in thousands):


	January 1, 2022		January 2, 2021
Computer and equipment	$	12,723	$	13,617
Furniture and fixtures	9,329		8,394
Machinery and tooling	97,348		80,715
Leasehold improvements	32,207		36,459
Business applications software	16,048		19,185
Other	4,143		1,642
Subtotal	171,798		160,012
Less: accumulated depreciation	92,911		83,428
Property and equipment, net	$	78,887	$	76,584

As of January 1, 2022 and January 2, 2021, the net book value of capitalized internal-use software costs was $4.9 million and $6.5 million, respectively, which are included within business applications software.

Depreciation expense for the years ended January 1, 2022, January 2, 2021 and December 28, 2019 was $31.1 million, $31.9 million, and $24.4 million, respectively, which included amortization expense of $2.3 million, $2.1 million and $1.5 million, respectively, for capitalized internal-use software.

Goodwill and other intangible assets

12 Months Ended

Jan. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets


6.			Goodwill and other intangible assets

The following table summarizes the activity in the carrying amount of goodwill and intangible assets for fiscal years 2021 and 2020 (in thousands):


	Goodwill		Intangible assets
Balance as of December 28, 2019	$	118,732	$	12,352
Amortization	—		(2,912)
Effect of foreign currency translation	7,140		462
Balance as of January 2, 2021	125,872		9,902
Acquisition	52,662		21,000
Amortization	—		(2,253)
Effect of foreign currency translation	(5,242)		(239)
Balance as of January 1, 2022	$	173,292	$	28,410

On November 15, 2021, the Company closed its acquisition of Aeris Cleantec AG ("Aeris"), a fast-growing provider of premium air purifiers, for approximately $71.4 million in cash. The acquisition will advance the Company's vision and strategy by enabling it to diversify its product offerings and grow new and existing consumer relationships with enhanced solutions that complement the core products. The purchase price was allocated based on estimated fair value of acquired intangible assets of $21.0 million, including $15.5 million of developed technology and $5.5 million of customer relationships, with a weighted estimated useful life of 5 years, net tangible assets of $10.1 million and goodwill of $52.7 million, The acquisition was a stock purchase and the goodwill resulting from this acquisition is not deductible for tax purposes. Goodwill is primarily attributed to the value expected from synergies resulting from the combination. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions and may be subject to change as additional information is received. The Company expects to finalize the fair value measurements as soon as practicable, but not later than one year from the acquisition date.

The Company has included the financial results of the business in the consolidated financial statements since the acquisition date, which were not material. The Company has not furnished proforma financial information related to this acquisition because such information is not material to the financial results. Acquisition-related costs associated with the business combination were $2.1 million for fiscal year 2021 and are included in general and administrative expenses in the Company's consolidated statements of income.

Intangible assets consisted of the following (in thousands):


	January 1, 2022				January 2, 2021
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	$	43,727	$	27,752	$	15,975	$	28,100	$	26,525	$	1,575
Tradename	100		100		—		100		100		—
Customer relationships	16,628		4,193		12,435		11,728		3,401		8,327
Reacquired distribution rights	32,096		32,096		—		34,318		34,318		—
Non-competition agreements	260		260		—		280		280		—
Total	$	92,811	$	64,401	$	28,410	$	74,526	$	64,624	$	9,902

Amortization expense related to acquired intangible assets was $2.3 million, $2.9 million and $12.8 million for the fiscal years ended January 1, 2022, January 2, 2021 and December 28, 2019, respectively.

The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands):


	Cost of Revenue		Operating Expenses		Total
2022	$	3,279	$	2,162	$	5,441
2023	2,604		2,162		4,766
2024	2,604		2,162		4,766
2025	2,604		1,988		4,592
2026	2,604		775		3,379
Thereafter	2,280		3,186		5,466
Total	$	15,975	$	12,435	$	28,410

Accrued Expenses

12 Months Ended

Jan. 01, 2022

Accrued Liabilities, Current [Abstract]

Accrued Expenses


7.			Accrued Expenses

Accrued expenses consist of the following (in thousands):


	January 1, 2022		January 2, 2021
Accrued warranty	$	32,019	$	24,392
Accrued manufacturing and logistics cost	23,038		20,093
Accrued compensation and benefits	19,029		17,635
Accrued bonus	11,375		31,523
Accrued sales and other indirect taxes payable	9,599		15,480
Current portion of operating lease liabilities	6,220		6,315
Derivative liability	2,600		4,268
Accrued income taxes	1,788		3,806
Accrued other	26,950		7,876
	$	132,618	$	131,388

Working Capital Facilities

12 Months Ended

Jan. 01, 2022

Debt Disclosure [Abstract]

Revolving Line of Credit


8.			Working Capital Facility

Credit Facility

In June 2018, the Company entered into a new agreement with Bank of America, N.A., increasing the amount of the unsecured revolving line of credit from $75.0 million to $150.0 million and extending the term of the credit facility to June 2023. As of January 1, 2022, the Company had no outstanding borrowings under the revolving credit facility. The revolving line of credit is available to fund working capital and other corporate purposes. The interest on loans under the credit facility accrues, at the Company's election, at either (1) LIBOR plus a margin, currently equal to 1.0%, based on the Company's ratio of indebtedness to Adjusted EBITDA (the "Eurodollar Rate"), or (2) the lender’s base rate. The lender’s base rate is equal to the highest of (1) the federal funds rate plus 0.5%, (2) the lender’s prime rate and (3) the Eurodollar Rate plus 1.0%. In the event USD LIBOR is discontinued as expected in June 2023, the Company expects the interest rates for its debt following such event will be based on either alternate base rates or agreed upon replacement rates. While the Company does not expect a LIBOR discontinuation would affect its ability to borrow or maintain already outstanding borrowings, it could result in higher interest rates.

The credit facility contains customary terms and conditions for credit facilities of this type, including restrictions on the Company's ability to incur or guarantee additional indebtedness, create liens, enter into transactions with affiliates, make loans or investments, sell assets, pay dividends or make distributions on, or repurchase, its stock, and consolidate or merge with other entities. In addition, the Company is required to meet certain financial covenants customary with this type of agreement, including maintaining a maximum ratio of indebtedness to Adjusted EBITDA and a minimum specified interest coverage ratio.

The credit facility contains customary events of default, including for payment defaults, breaches of representations, breaches of affirmative or negative covenants, cross defaults to other material indebtedness, bankruptcy and failure to discharge certain judgments. If a default occurs and is not cured within any applicable cure period or is not waived, the Company's obligations under the credit facility may be accelerated.

As of January 1, 2022, the Company was in compliance with all covenants under the revolving credit facility.

Lines of Credit

The Company has an unsecured letter of credit facility with Bank of America, N.A., available to fund letters of credit up to an aggregate outstanding amount of $5.0 million. As of January 1, 2022, the Company had letters of credit outstanding of $0.7 million under the letter of credit facility and other lines of credit with Bank of America, N.A.

The Company has an unsecured guarantee line of credit with Mizuho, Bank Ltd., available to fund import tax payments up to an aggregate outstanding amount of 250.0 million Japanese Yen. As of January 1, 2022, the Company had no outstanding balance under the guarantee line of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Derivative Instruments and Hedging Activities (Notes)

12 Months Ended

Jan. 01, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities


9.			Derivative Instruments and Hedging Activities

The Company operates internationally and, in the normal course of business, is exposed to fluctuations in foreign currency exchange rates. The foreign currency exposures typically arise from transactions denominated in currencies other than the functional currency of the Company's operations, primarily the British Pound, Canadian Dollar, Euro and Japanese Yen. The Company uses derivative instruments that are designated in cash flow hedge relationships to reduce or eliminate the effects of foreign exchange rate change on sales. These contracts typically have maturities of three years or less. At January 1, 2022 and January 2, 2021, the Company had outstanding cash flow hedges with a total notional value of $423.3 million and $431.9 million, respectively.

The Company also enters into economic hedges that are not designated as hedges from an accounting standpoint to reduce or eliminate the effects of foreign exchange rate changes typically related to short term trade receivables and payables. These contracts typically have maturities of twelve months or less. As of January 1, 2022 and January 2, 2021, the Company had outstanding foreign currency economic hedges with a total notional value of $325.4 million and $192.2 million, respectively.

As described in Note 2, during July 2020, the Company entered into a forward sale contract as an economic hedge to

reduce the Company's exposure to stock price fluctuations on one of its marketable equity securities. The contract had a

maturity date of January 2021 and was settled during the first quarter of 2021. The total notional value of this economic hedge

was $51.5 million at January 2, 2021.

The fair values of derivative instruments are as follows (in thousands):


		Fair Value
	Classification		January 1, 2022		January 2, 2021
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets		$	8,362	$	261
Foreign currency forward contracts	Other assets		1,627		—
Foreign currency forward contracts	Accrued expenses		2,377		2,176
Forward sale contract	Other current assets		—		3,904
Derivatives designated as cash flow hedges:
Foreign currency forward contracts	Other current assets		$	4,110	$	362
Foreign currency forward contracts	Other assets		9,610		679
Foreign currency forward contracts	Accrued expenses		223		2,092
Foreign currency forward contracts	Long-term liabilities		407		8,554

Losses associated with derivative instruments not designated as hedging instruments are as follows (in thousands):


		Fiscal year ended
	Classification	January 1, 2022		January 2, 2021		December 28, 2019
Gain (loss) recognized in income	Other income, net	$	(9,779)	$	(188)	$	89

The following tables reflect the effect of derivatives designated as cash flow hedging for the years ended (in thousands):


	Gain (loss) recognized in OCI on Derivative (1)
	Fiscal year ended
	January 1, 2022		January 2, 2021		December 28, 2019
Foreign currency forward contracts	$	31,363	$	(18,504)	$	16,483

(1)The amount represents the change in fair value of derivative contracts due to changes in spot rates.


	Gain (loss) recognized in earnings on cash flow hedging instruments
	January 1, 2022		January 2, 2021		December 28, 2019
	Revenue		Revenue		Revenue
Consolidated statements of income in which the effects of cash flow hedging instruments are recorded	$	1,564,987	$	1,430,390	$	1,214,010

Gain (loss) on cash flow hedging relationships:
Foreign currency forward contracts:
Amount of gain reclassified from AOCI into earnings	$	4,493	$	4,783	$	1,889

Fair Value Measurements

12 Months Ended

Jan. 01, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements


10.			Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


	Fair Value Measurements as of
	January 1, 2022
	Level 1		Level 2 (1)		Level 3
Assets:
Money market funds	$	33,003	$	—	$	—
Marketable equity securities, $23,286 at cost (2)	33,044		—		—


Derivative instruments (Note 9)	—		23,709		—
Total assets measured at fair value	$	66,047	$	23,709	$	—

Liabilities:
Derivative instruments (Note 9)	$	—	$	3,007	$	—
Total liabilities measured at fair value	$	—	$	3,007	$	—


	Fair Value Measurements as of
	January 2, 2021
	Level 1		Level 2 (1)		Level 3
Assets:
Money market funds	$	47,529	$	—	$	—
Marketable equity securities, $46,578 at cost (2)	47,576		—		—
Corporate and government bonds, $3,498 at cost	—		3,505		—
Derivative instruments (Note 9)	—		5,206		—
Total assets measured at fair value	$	95,105	$	8,711	$	—

Liabilities:
Derivative instruments (Note 9)	$	—	$	12,822	$	—
Total liabilities measured at fair value	$	—	$	12,822	$	—

(1)Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

(2)The related unrealized gain recorded in other income, net was $9.8 million and $1.0 million for the fiscal year ended January 1, 2022 and January 2, 2021, respectively. Marketable equity securities are included in short term investments on the consolidated balance sheet.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders' Equity

12 Months Ended

Jan. 01, 2022

Equity [Abstract]

Stockholders' Equity


11.			Stockholders' Equity

Preferred Stock

The Company has authorized 5,000,000 shares of undesignated preferred stock with a par value of $0.01 per share. None of the preferred shares were issued and outstanding at January 1, 2022 and January 2, 2021.

Common Stock

Common stockholders are entitled to one vote for each share held and to receive dividends if and when declared by the Company's board of directors and subject to and qualified by the rights of holders of the preferred stock. Upon dissolution or liquidation of the Company, holders of common stock will be entitled to receive all available assets subject to any preferential rights of any then outstanding preferred stock.

Share Repurchase Activity

The Company's Board of Directors approved a stock repurchase program authorizing up to $200.0 million in share repurchases from time to time until September 2021, which was extended until March 31, 2022. As of January 1, 2022, $25.0 million remained available for further repurchase under the program.

On August 2, 2021, the Company entered into an accelerated share repurchase ("ASR") agreement with Wells Fargo Bank, National Association ("Wells Fargo"), under which the Company paid $100.0 million and received an aggregate initial share delivery of 943,285 shares of its common stock, which were immediately retired. In September 2021, Wells Fargo delivered an additional 254,933 shares of the Company's common stock to complete settlement of the ASR agreement. Under this agreement, the Company repurchased a total of 1,198,218 shares of its common stock at an average price of $83.46, totaling $100.0 million during the third quarter of 2021. The final number of shares repurchased was based on the volume-weighted average price of its common stock over the duration of the ASR agreement, less a discount.

On March 11, 2021, the Company entered into a Rule 10b5-1 plan to repurchase $50.0 million of common stock and the Company repurchased 446,954 shares of its common stock at an average price of $111.85, totaling $50.0 million during the second quarter of 2021.

In fiscal 2020, the repurchased 663,602 shares of its common stock at an average price of $37.65, totaling $25.0 million.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation

12 Months Ended

Jan. 01, 2022

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation


12.			Stock-Based Compensation

The Company has awards and options outstanding under three stock incentive plans: the 2005 Stock Option and Incentive Plan (the "2005 Plan"), the 2015 Stock Option and Incentive Plan (the "2015 Plan") and the 2018 Stock Option and Incentive Plan (the "2018 Plan" and together with the 2005 Plan and the 2015 Plan, the "Plans"). The 2018 Plan is the only one of the three plans under which new awards may currently be granted. Under the 2018 Plan, which became effective on May 23, 2018, 1,750,000 shares were initially reserved for issuance in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, unrestricted stock awards, cash-based awards, and dividend equivalent rights. On May 21, 2020, the stockholders approved an amendment to the 2018 Plan to increase the number of aggregate shares authorized for issuance to 2,495,000 shares, an increase of 745,000 shares. Stock awards returned to the Plans, with the exception of those issued under the 2005 Plan, as a result of their expiration, cancellation or termination are automatically made available for issuance under the 2018 Plan. As of January 1, 2022, there were 1,023,556 shares available for future grant under the 2018 Plan. The Company recognized $21.7 million, $30.0 million and $23.7 million of stock-based compensation expense during the fiscal years ended January 1, 2022, January 2, 2021, and December 28, 2019, respectively.

Stock-based compensation breaks down by expense classification as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Cost of revenue	$	1,321	$	1,511	$	1,486
Research and development	9,542		10,655		9,186
Selling and marketing	4,190		3,700		3,323
General and administrative	6,641		14,109		9,749
Total	$	21,694	$	29,975	$	23,744

Time-based Restricted Stock Units

Time-based restricted stock units entitle the holder to a specific number of shares of common stock upon vesting, typically over a four year period. As of January 1, 2022, the unamortized compensation costs associated with restricted stock units was $64.8 million with a weighted-average remaining recognition period of 2.78 years.

The following table summarizes the time-based restricted stock unit activity for fiscal years 2021, 2020 and 2019:


	Number of Shares Underlying Restricted Stock	Weighted Average Grant Date Fair Value
Outstanding at December 29, 2018	855,889	$	63.32
Granted	407,325	79.91
Vested	(358,119)	54.89
Forfeited	(85,863)	76.85
Outstanding at December 28, 2019	819,232	73.83
Granted	493,908	61.53
Vested	(318,079)	67.95
Forfeited	(101,028)	75.20
Outstanding at January 2, 2021	894,033	68.97
Granted	523,496	88.73
Vested	(314,427)	71.36
Forfeited	(99,886)	75.82
Outstanding at January 1, 2022	1,003,216	$	77.85

The aggregate intrinsic value of outstanding time-based restricted stock units at January 1, 2022 was $66.1 million based on the Company's closing stock price on January 1, 2022 of $65.88, with a weighted average remaining contractual term of 1.66 years.

Performance-Based Restricted Stock Units

The Company grants performance-based restricted stock units ("PSUs") to certain of its employees that vest on the satisfaction of service and performance conditions. The performance conditions are based on certain financial performance targets at the end of a three year performance period. The number of shares actually vested at the end of the three-year period may range from 0% to 200% of the target number of PSUs granted based on the actual achievement of the conditions.

The unamortized fair value as of January 1, 2022 associated with performance based restricted stock units was $4.2 million with a weighted-average remaining recognition period of 1.75 years.

The following table summarizes the performance-based restricted stock unit activity for fiscal years 2021, 2020 and 2019:


	Number of Shares Underlying PSU	Weighted Average Grant Date Fair Value
Outstanding at December 29, 2018	274,119	$	54.10
Granted	70,827	122.20
Vested	(78,943)	33.33
Forfeited	(49,772)	78.29
Outstanding at December 28, 2019	216,231	78.42
Granted	130,284	46.77
Vested	(71,734)	61.44
Forfeited	(45,129)	75.17
Outstanding at January 2, 2021	229,652	66.41
Granted	134,127	94.74
Vested	(55,503)	68.41
Forfeited	(23,154)	71.68
Outstanding at January 1, 2022	285,122	$	78.92

The aggregate intrinsic value of outstanding PSUs was $18.8 million based on the Company's closing stock price on January 1, 2022 of $65.88 with a weighted average remaining contractual term of 1.75 years.

Employee Stock Purchase Plan

In May 2017, the Company’s stockholders approved the 2017 Employee Stock Purchase Plan ("ESPP"). Eligible employees may purchase the Company’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods beginning November 15 and May 15 of each year. An employee’s payroll deductions under the ESPP are limited to 15% of the employee’s compensation, up to $4,000 each period, for the purchase of common stock not to exceed 1,000 shares per offering period. As of January 1, 2022, there were 465,465 shares reserved for future issuance under the ESPP. The Company recognized $1.2 million, $1.0 million, and $1.1 million of stock-based compensation expense during the fiscal years ended January 1, 2022, January 2, 2021, and December 28, 2019, respectively.

Commitments and Contingencies

12 Months Ended

Jan. 01, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies


13.			Commitments and Contingencies

Legal Proceedings

From time to time and in the ordinary course of business, the Company is subject to various claims, charges and litigation. The outcome of litigation cannot be predicted with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to us, which could materially affect our financial condition or results of operations.

Outstanding Purchase Orders

At January 1, 2022, we had outstanding purchase orders aggregating approximately $363.9 million. The purchase orders, the majority of which are with our contract manufacturers for the purchase of inventory in the normal course of business, are for manufacturing and non-manufacturing related goods and services, and are cancellable without penalty.

Guarantees and Indemnification Obligations

The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses incurred by the indemnified party, generally the Company’s customers, in connection with any patent, copyright, trade secret or other proprietary right infringement claim by any third party. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these agreements is minimal. Accordingly, the Company has no liabilities recorded for these agreements as of January 1, 2022 and January 2, 2021, respectively.

Warranty

The Company provides warranties on most products and has established a reserve for warranty obligations based on estimated warranty costs. The reserve is included as part of accrued expenses (Note 7) in the accompanying consolidated balance sheets.

Activity related to the warranty accrual was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Balance at beginning of period	$	24,392	$	13,856	$	11,964

Provision	42,430		28,884		14,091
Warranty claims	(34,803)		(18,348)		(12,199)
Balance at end of period	$	32,019	$	24,392	$	13,856

Employee Benefits (Notes)

12 Months Ended

Jan. 01, 2022

Retirement Benefits [Abstract]

Employee Benefits


14.			Employee Benefits

The Company sponsors a retirement plan under Section 401(k) of the Internal Revenue Code (the "Retirement Plan"). Eligible US employees may make tax-deferred contributions, and the Company, at its sole discretion, and subject to the limits prescribed by the IRS, may make either a nonelective contribution on behalf of all eligible employees or a matching contribution on behalf of all plan participants.

The Company elected to make a matching contribution of approximately $3.8 million, $3.0 million and $2.9 million for the plan years ended January 1, 2022, January 2, 2021 and December 28, 2019, respectively. The employer contribution represents a matching contribution at a rate of 50% of each employee’s first six percent contribution. Accordingly, each employee participating is entitled up to a maximum of three percent of his or her eligible annual payroll.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Income Taxes

12 Months Ended

Jan. 01, 2022

Income Tax Disclosure [Abstract]

Income Taxes


15.			Income Taxes

Income before provision for income taxes was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Domestic	$	8,880	$	166,973	$	84,225
Foreign	19,404		20,942		14,608
Income before income taxes	$	28,284	$	187,915	$	98,833

The components of income tax (benefit) provision were as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Current
Federal	$	1,045	$	13,593	$	13,366
State	441		2,724		5,004
Foreign	7,019		10,451		6,941
Total current income tax provision	$	8,505	$	26,768	$	25,311
Deferred
Federal	$	(8,286)	$	14,695	$	(9,345)
State	(690)		2,552		(1,783)
Foreign	(1,635)		(3,168)		(650)
Total deferred income tax (benefit) provision	(10,611)		14,079		(11,778)
Total income tax (benefit) provision	$	(2,106)	$	40,847	$	13,533

The reconciliation of statutory federal income tax to the income tax (benefit) provision is as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Statutory federal income tax	$	5,940	$	39,462	$	20,755

State taxes (net of federal benefit)	389		4,834		3,999
Federal and state credits	(7,620)		(6,702)		(8,152)


Excess tax (benefits) expenses from stock-based compensation	(4,160)		313		(6,468)

Foreign-derived intangible income	(3,253)		(3,360)		(4,180)


Executive compensation	1,706		718		2,081
Foreign tax rate differential	264		1,458		1,986
Change in valuation allowance	4,691		3,817		2,678
Other	(63)		307		834
	$	(2,106)	$	40,847	$	13,533

The components of net deferred tax assets were as follows (in thousands):


	January 1, 2022		January 2, 2021
Deferred tax assets







Revenue reserves	$	22,039	$	20,564
Accruals and other liabilities	14,518		14,357
Operating lease liabilities	11,428		12,429
Tax credits and net operating loss carryforwards	17,326		12,748

Stock-based compensation	3,463		4,868

Other	5,476		3,793
Gross deferred tax assets	74,250		68,759
Valuation allowance	(13,136)		(7,643)
Total deferred tax assets	61,114		61,116



Deferred tax liabilities
Intangible assets	5,469		3,341
Operating lease right-of-use assets	10,998		11,443
Marketable equity securities	7,370		10,676
Other	2,582		2,957
Total deferred tax liabilities	26,419		28,417
Net deferred tax assets	$	34,695	$	32,699

The Company intends to continue to invest all of its unremitted foreign earnings, as well as the capital in its foreign subsidiaries, indefinitely outside of the U.S. At January 1, 2022, the Company has unremitted foreign earnings and any unrecognized deferred tax liability on these unremitted earnings would be immaterial.

The Company has federal and foreign net operating loss carryforwards of $3.9 million and $12.7 million, respectively, as of January 1, 2022. The Company has a valuation allowance of $2.0 million in the U.S. and a valuation allowance of $5.7 million in certain foreign jurisdictions for net operating loss carryforwards due to statutory limitations as of January 1, 2022. The Company has state research and development credit carryforwards of $19.4 million and $16.3 million as of January 1, 2022 and January 2, 2021, respectively, which expire from 2029 to 2037. Under the Internal Revenue Code and state law, certain substantial changes in the Company’s ownership could result in an annual limitation on the amount of these tax carryforwards which can be utilized in future years. As of January 1, 2022, January 2, 2021 and December 28, 2019, the Company had a valuation allowance of $13.1 million, $7.6 million and $3.8 million, respectively, for state research and

development credit carryforwards and certain foreign deferred tax assets for which the Company believes do not meet the "more likely than not" criteria for recognition.

A summary of the Company’s adjustments to its gross unrecognized tax benefits in the current year is as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Balance at beginning of period	$	8,559	$	7,121	$	7,119
Increase for tax positions related to the current year	914		765		770

Increase (decrease) for tax positions related to prior years	369		1,231		(768)

Decrease for lapses of statute of limitations	—		(558)		—
Balance at end of period	$	9,842	$	8,559	$	7,121

The Company accrues interest and, if applicable, penalties for any uncertain tax positions as a component of income tax expense. As of January 1, 2022, January 2, 2021 and December 28, 2019 there were no material accrued interest or penalties. The Company does not expect a significant change in the amount of unrecognized tax benefits within the next 12 months. If all of the Company's unrecognized tax benefits as of January 1, 2022 were to become recognizable in the future, it would record a $11.2 million benefit, inclusive of interest, to the income tax provision.

The Company is subject to taxation in the United States (federal and state) and foreign jurisdictions. The statute of limitations for examinations by the Internal Revenue Service (the "IRS") and state tax authorities is closed for fiscal years prior to 2014 and fiscal 2016. Federal and state carryforward attributes that were generated prior to fiscal 2014 and during fiscal 2016 may still be adjusted upon examination by the federal or state tax authorities if they either have been or will be used in a period for which the statute of limitations is still open. The Company is currently under examination by the IRS for the years 2014 and 2015. The IRS notified the Company during the fourth quarter of fiscal 2020 that it intends to disallow the Company’s deductions related to domestic production activities for those tax years. We currently believe the ultimate disposition of this matter will not have a material adverse effect on our consolidated financial position, liquidity or results of operations. There are other ongoing audits in various other jurisdictions that are not material to the Company's financial statements. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. The Company continues to monitor the progress of ongoing discussions with tax authorities and the effect, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company's tax audits are resolved in a manner not consistent with management's expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. Although the timing of resolution, settlement, and closure of audits is not certain, it is reasonably possible that certain U.S. federal and non-U.S. tax audits may be concluded within the next 12 months, which could increase or decrease the balance of the Company's gross unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Industry Segment, Geographic Information and Significant Customers

12 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

Industry Segment, Geographic Information and Significant Customers


16.			Industry Segment, Geographic Information and Significant Customers

The Company operates as one operating segment. The Company's consumer robots are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers, and through value-added distributors and resellers worldwide.

Geographic Information

For the fiscal years ended January 1, 2022, January 2, 2021 and December 28, 2019, sales to non-U.S. customers accounted for 51.8%, 47.9% and 50.3% of total revenue, respectively.

The following table provides information about revenue by geographical region (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Domestic	$	754,173	$	744,648	$	603,618
International	810,814		685,742		610,392
Total	$	1,564,987	$	1,430,390	$	1,214,010

Significant Customers

For the fiscal years ended January 1, 2022, January 2, 2021, and December 28, 2019, there was one customer that accounted for 10% or more of total revenue, representing 21.8%, 22.7% and 21.3%, of total revenue, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 01, 2022

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation and Foreign Currency Translation

Fiscal Year-End

Use of Estimates

Cash and Cash Equivalents

Short Term Investments


	January 1, 2022				January 2, 2021
	Cost		Fair Market Value		Cost		Fair Market Value
Marketable equity securities	$	23,286	$	33,044	$	46,578	$	47,576
Corporate and government bonds	—		—		3,498		3,505
Total short term investments	$	23,286	$	33,044	$	50,076	$	51,081

Credit Losses

Allowance for Credit LossesThe Company maintains an allowance for credit losses for accounts receivable using an expected loss model that requires the use of forward-looking information to calculate credit loss estimate. The expected loss methodology is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, customer concentrations, current and future economic and market conditions and age of the receivable. Although the Company historically has not experienced significant write-offs resulting from credit losses in accounts receivable, the COVID-19 pandemic has caused uncertainty in some customer accounts.

Accounts receivable allowances

Inventory

Warranty

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Business Combinations

Goodwill and Other Long-Lived Assets

Other Assets

Strategic Investments

Financial Instruments and Hedging Activities

Fair Value Measurements

•Level 1 - observable inputs such as quoted prices for identical instruments in active markets;

•Level 2 - inputs other than quoted prices in active markets that are either directly or indirectly observable; and

•Level 3 - unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Stock-Based Compensation

Research and Development

Costs incurred in the research and development of the Company’s products are expensed as incurred.

Advertising Expense

Advertising ExpenseAdvertising costs are expensed as incurred and included in selling and marketing expenses. During the years ended January 1, 2022, January 2, 2021 and December 28, 2019 advertising expense totaled $147.2 million, $145.2 million and $125.0 million, respectively.

Income Taxes

Income TaxesDeferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis using enacted tax rates in effect in the years in which those temporary differences are expected to be recovered or settled in each jurisdiction. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that the related benefits will not be realized. The Company regularly reviews the deferred tax assets for recoverability considering historical profitability, projected future taxable income, future reversals of existing taxable temporary differences, as well as feasible tax planning strategies in each jurisdiction.

Concentration of Credit Risk and Significant Customers

Net Income Per Share

Net income per share:Basic income per share is calculated using the Company's weighted-average outstanding common shares. Diluted income per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method.

Recent Accounting Pronouncements

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Revenue Recognition

For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of January 1, 2022 and January 2, 2021 was $20.9 million and $11.5 million, respectively. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.The Company’s products generally carry a one-year or two-year limited warranty that promises customers that delivered products are as specified. The Company does not consider these assurance-type warranties as a separate performance obligation and therefore, the Company accounts for such warranties under ASC 460, "Guarantees." For contracts with the right to upgrade to a new product after a specified period of time, the Company accounts for this trade-in right as a guarantee obligation under ASC 460. The total transaction price is reduced by the full amount of the trade-in right's fair value and the remaining transaction price is allocated between the performance obligations within the contract. The Company provides limited rights of returns for direct-to-consumer sales generated through its online stores and certain resellers and distributors. The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns. In addition, the Company may provide other credits or incentives which are accounted for as variable consideration when estimating the amount of revenue to recognize. Where appropriate, these estimates take into consideration relevant factors such as the Company’s historical experience, current contractual requirements, specific known market events and forecasted inventory level in the channels. Overall, these reserves reflect the Company’s best estimates, and the actual amounts of consideration ultimately received may differ from the Company’s estimates. Returns and credits are estimated at the time of sale and updated at the end of each reporting period as additional information becomes available.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 01, 2022

Accounting Policies [Abstract]

Components of Short-term Investments


	January 1, 2022				January 2, 2021
	Cost		Fair Market Value		Cost		Fair Market Value
Marketable equity securities	$	23,286	$	33,044	$	46,578	$	47,576
Corporate and government bonds	—		—		3,498		3,505
Total short term investments	$	23,286	$	33,044	$	50,076	$	51,081

Activity related to accounts receivable allowances was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Allowance for product returns
Balance at beginning of period	$	64,343	$	55,191	$	53,920
Provision	61,014		68,028		69,488
Deduction	(68,518)		(58,876)		(68,217)

Balance at end of period	$	56,839	$	64,343	$	55,191

Allowance for other credits and incentives
Balance at beginning of period	$	142,173	$	134,046	$	97,737
Provision	267,821		285,139		284,084
Deduction	(308,388)		(277,012)		(247,775)

Balance at end of period	$	101,606	$	142,173	$	134,046

Property and equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Property and equipment consists of the following (in thousands):


	January 1, 2022		January 2, 2021
Computer and equipment	$	12,723	$	13,617
Furniture and fixtures	9,329		8,394
Machinery and tooling	97,348		80,715
Leasehold improvements	32,207		36,459
Business applications software	16,048		19,185
Other	4,143		1,642
Subtotal	171,798		160,012
Less: accumulated depreciation	92,911		83,428
Property and equipment, net	$	78,887	$	76,584

Basic and diluted net income per share

The following table presents the calculation of both basic and diluted net income per share (in thousands, except per share amounts):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Net income	$	30,390	$	147,068	$	85,300
Weighted-average shares outstanding	27,687		28,101		28,097
Dilutive effect of employee stock plans	475		517		638
Diluted weighted-average shares outstanding	28,162		28,618		28,735
Basic income per share	$	1.10	$	5.23	$	3.04
Diluted income per share	$	1.08	$	5.14	$	2.97

Revenue Recognition (Tables)

12 Months Ended

Jan. 01, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

The following table provides information about disaggregated revenue by geographical region (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
United States	$	754,173	$	744,648	$	603,618
EMEA	470,475		386,007		357,760
Japan	222,772		193,304		160,875
Other	117,567		106,431		91,757
Total revenue	$	1,564,987	$	1,430,390	$	1,214,010

Contract with Customer, Asset and Liability [Table Text Block]

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers (in thousands):


	January 1, 2022		January 2, 2021
Accounts receivable, net	$	155,659	$	170,526
Unbilled receivables	8,747		—
Contract liabilities	22,996		17,700

Leases (Tables)

12 Months Ended

Jan. 01, 2022

Leases [Abstract]

Lease, Cost [Table Text Block]

The components of lease expense were as follows (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Operating lease cost	$	8,510	$	9,363	$	8,777
Variable lease cost	3,633		3,583		4,096
Total lease cost	$	12,143	$	12,946	$	12,873

Schedule of Leases, Supplemental Cash Flow [Table Text Block]

Supplemental cash flow information related to leases was as follows (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,762	$	9,862	$	9,540
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	—	$	2,310	$	53,227

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturities of operating lease liabilities were as follows as of January 1, 2022 (in thousands):



2022	$	7,895
2023	7,623
2024	6,567
2025	6,599
2026	6,680
Thereafter	21,849
Total minimum lease payments	$	57,213
Less: imputed interest	7,531
Present value of future minimum lease payments	$	49,682
Less: current portion of operating lease liabilities (Note 7)	6,220
Long-term lease liabilities	$	43,462

Property and Equipment (Tables)

12 Months Ended

Jan. 01, 2022

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Property and equipment consists of the following (in thousands):


	January 1, 2022		January 2, 2021
Computer and equipment	$	12,723	$	13,617
Furniture and fixtures	9,329		8,394
Machinery and tooling	97,348		80,715
Leasehold improvements	32,207		36,459
Business applications software	16,048		19,185
Other	4,143		1,642
Subtotal	171,798		160,012
Less: accumulated depreciation	92,911		83,428
Property and equipment, net	$	78,887	$	76,584

Goodwill and other intangible assets (Tables)

12 Months Ended

Jan. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The following table summarizes the activity in the carrying amount of goodwill and intangible assets for fiscal years 2021 and 2020 (in thousands):


	Goodwill		Intangible assets
Balance as of December 28, 2019	$	118,732	$	12,352
Amortization	—		(2,912)
Effect of foreign currency translation	7,140		462
Balance as of January 2, 2021	125,872		9,902
Acquisition	52,662		21,000
Amortization	—		(2,253)
Effect of foreign currency translation	(5,242)		(239)
Balance as of January 1, 2022	$	173,292	$	28,410

Other intangible assets

Intangible assets consisted of the following (in thousands):


	January 1, 2022				January 2, 2021
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	$	43,727	$	27,752	$	15,975	$	28,100	$	26,525	$	1,575
Tradename	100		100		—		100		100		—
Customer relationships	16,628		4,193		12,435		11,728		3,401		8,327
Reacquired distribution rights	32,096		32,096		—		34,318		34,318		—
Non-competition agreements	260		260		—		280		280		—
Total	$	92,811	$	64,401	$	28,410	$	74,526	$	64,624	$	9,902

Estimated future amortization expense related to current intangible assets

The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands):


	Cost of Revenue		Operating Expenses		Total
2022	$	3,279	$	2,162	$	5,441
2023	2,604		2,162		4,766
2024	2,604		2,162		4,766
2025	2,604		1,988		4,592
2026	2,604		775		3,379
Thereafter	2,280		3,186		5,466
Total	$	15,975	$	12,435	$	28,410

Accrued Expenses (Tables)

12 Months Ended

Jan. 01, 2022

Accrued Liabilities, Current [Abstract]

Components of accrued expenses

Accrued expenses consist of the following (in thousands):


	January 1, 2022		January 2, 2021
Accrued warranty	$	32,019	$	24,392
Accrued manufacturing and logistics cost	23,038		20,093
Accrued compensation and benefits	19,029		17,635
Accrued bonus	11,375		31,523
Accrued sales and other indirect taxes payable	9,599		15,480
Current portion of operating lease liabilities	6,220		6,315
Derivative liability	2,600		4,268
Accrued income taxes	1,788		3,806
Accrued other	26,950		7,876
	$	132,618	$	131,388

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Jan. 01, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of derivative instruments

The fair values of derivative instruments are as follows (in thousands):


		Fair Value
	Classification		January 1, 2022		January 2, 2021
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets		$	8,362	$	261
Foreign currency forward contracts	Other assets		1,627		—
Foreign currency forward contracts	Accrued expenses		2,377		2,176
Forward sale contract	Other current assets		—		3,904
Derivatives designated as cash flow hedges:
Foreign currency forward contracts	Other current assets		$	4,110	$	362
Foreign currency forward contracts	Other assets		9,610		679
Foreign currency forward contracts	Accrued expenses		223		2,092
Foreign currency forward contracts	Long-term liabilities		407		8,554

Schedule of derivative instruments gain (loss)

Losses associated with derivative instruments not designated as hedging instruments are as follows (in thousands):


		Fiscal year ended
	Classification	January 1, 2022		January 2, 2021		December 28, 2019
Gain (loss) recognized in income	Other income, net	$	(9,779)	$	(188)	$	89

The following tables reflect the effect of derivatives designated as cash flow hedging for the years ended (in thousands):


	Gain (loss) recognized in OCI on Derivative (1)
	Fiscal year ended
	January 1, 2022		January 2, 2021		December 28, 2019
Foreign currency forward contracts	$	31,363	$	(18,504)	$	16,483

(1)The amount represents the change in fair value of derivative contracts due to changes in spot rates.


	Gain (loss) recognized in earnings on cash flow hedging instruments
	January 1, 2022		January 2, 2021		December 28, 2019
	Revenue		Revenue		Revenue
Consolidated statements of income in which the effects of cash flow hedging instruments are recorded	$	1,564,987	$	1,430,390	$	1,214,010

Gain (loss) on cash flow hedging relationships:
Foreign currency forward contracts:
Amount of gain reclassified from AOCI into earnings	$	4,493	$	4,783	$	1,889

Fair Value Measurements (Tables)

12 Months Ended

Jan. 01, 2022

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


	Fair Value Measurements as of
	January 1, 2022
	Level 1		Level 2 (1)		Level 3
Assets:
Money market funds	$	33,003	$	—	$	—
Marketable equity securities, $23,286 at cost (2)	33,044		—		—


Derivative instruments (Note 9)	—		23,709		—
Total assets measured at fair value	$	66,047	$	23,709	$	—

Liabilities:
Derivative instruments (Note 9)	$	—	$	3,007	$	—
Total liabilities measured at fair value	$	—	$	3,007	$	—


	Fair Value Measurements as of
	January 2, 2021
	Level 1		Level 2 (1)		Level 3
Assets:
Money market funds	$	47,529	$	—	$	—
Marketable equity securities, $46,578 at cost (2)	47,576		—		—
Corporate and government bonds, $3,498 at cost	—		3,505		—
Derivative instruments (Note 9)	—		5,206		—
Total assets measured at fair value	$	95,105	$	8,711	$	—

Liabilities:
Derivative instruments (Note 9)	$	—	$	12,822	$	—
Total liabilities measured at fair value	$	—	$	12,822	$	—

Stock-Based Compensation (Tables)

12 Months Ended

Jan. 01, 2022

Share-based Payment Arrangement [Abstract]

Share based compensation expense by classification

Stock-based compensation breaks down by expense classification as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Cost of revenue	$	1,321	$	1,511	$	1,486
Research and development	9,542		10,655		9,186
Selling and marketing	4,190		3,700		3,323
General and administrative	6,641		14,109		9,749
Total	$	21,694	$	29,975	$	23,744

Summary of stock option plan activity

Activities relating to time based restricted stock units

The following table summarizes the time-based restricted stock unit activity for fiscal years 2021, 2020 and 2019:


	Number of Shares Underlying Restricted Stock	Weighted Average Grant Date Fair Value
Outstanding at December 29, 2018	855,889	$	63.32
Granted	407,325	79.91
Vested	(358,119)	54.89
Forfeited	(85,863)	76.85
Outstanding at December 28, 2019	819,232	73.83
Granted	493,908	61.53
Vested	(318,079)	67.95
Forfeited	(101,028)	75.20
Outstanding at January 2, 2021	894,033	68.97
Granted	523,496	88.73
Vested	(314,427)	71.36
Forfeited	(99,886)	75.82
Outstanding at January 1, 2022	1,003,216	$	77.85

Activities relating to performance based restricted stock units

The following table summarizes the performance-based restricted stock unit activity for fiscal years 2021, 2020 and 2019:


	Number of Shares Underlying PSU	Weighted Average Grant Date Fair Value
Outstanding at December 29, 2018	274,119	$	54.10
Granted	70,827	122.20
Vested	(78,943)	33.33
Forfeited	(49,772)	78.29
Outstanding at December 28, 2019	216,231	78.42
Granted	130,284	46.77
Vested	(71,734)	61.44
Forfeited	(45,129)	75.17
Outstanding at January 2, 2021	229,652	66.41
Granted	134,127	94.74
Vested	(55,503)	68.41
Forfeited	(23,154)	71.68
Outstanding at January 1, 2022	285,122	$	78.92

Commitments and Contingencies (Tables)

12 Months Ended

Jan. 01, 2022

Commitments and Contingencies Disclosure [Abstract]

Activity related to the warranty accrual was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Balance at beginning of period	$	24,392	$	13,856	$	11,964

Provision	42,430		28,884		14,091
Warranty claims	(34,803)		(18,348)		(12,199)
Balance at end of period	$	32,019	$	24,392	$	13,856

Income Taxes (Tables)

12 Months Ended

Jan. 01, 2022

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision for income taxes

Income before provision for income taxes was as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Domestic	$	8,880	$	166,973	$	84,225
Foreign	19,404		20,942		14,608
Income before income taxes	$	28,284	$	187,915	$	98,833

Components of income tax expense

The components of income tax (benefit) provision were as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Current
Federal	$	1,045	$	13,593	$	13,366
State	441		2,724		5,004
Foreign	7,019		10,451		6,941
Total current income tax provision	$	8,505	$	26,768	$	25,311
Deferred
Federal	$	(8,286)	$	14,695	$	(9,345)
State	(690)		2,552		(1,783)
Foreign	(1,635)		(3,168)		(650)
Total deferred income tax (benefit) provision	(10,611)		14,079		(11,778)
Total income tax (benefit) provision	$	(2,106)	$	40,847	$	13,533

Reconciliation of the expected tax (benefit) expense

The reconciliation of statutory federal income tax to the income tax (benefit) provision is as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Statutory federal income tax	$	5,940	$	39,462	$	20,755

State taxes (net of federal benefit)	389		4,834		3,999
Federal and state credits	(7,620)		(6,702)		(8,152)


Excess tax (benefits) expenses from stock-based compensation	(4,160)		313		(6,468)

Foreign-derived intangible income	(3,253)		(3,360)		(4,180)


Executive compensation	1,706		718		2,081
Foreign tax rate differential	264		1,458		1,986
Change in valuation allowance	4,691		3,817		2,678
Other	(63)		307		834
	$	(2,106)	$	40,847	$	13,533

Components of net deferred tax assets

The components of net deferred tax assets were as follows (in thousands):


	January 1, 2022		January 2, 2021
Deferred tax assets







Revenue reserves	$	22,039	$	20,564
Accruals and other liabilities	14,518		14,357
Operating lease liabilities	11,428		12,429
Tax credits and net operating loss carryforwards	17,326		12,748

Stock-based compensation	3,463		4,868

Other	5,476		3,793
Gross deferred tax assets	74,250		68,759
Valuation allowance	(13,136)		(7,643)
Total deferred tax assets	61,114		61,116



Deferred tax liabilities
Intangible assets	5,469		3,341
Operating lease right-of-use assets	10,998		11,443
Marketable equity securities	7,370		10,676
Other	2,582		2,957
Total deferred tax liabilities	26,419		28,417
Net deferred tax assets	$	34,695	$	32,699

Schedule of adjustments to uncertain tax position

A summary of the Company’s adjustments to its gross unrecognized tax benefits in the current year is as follows (in thousands):


	Fiscal Year Ended
	January 1, 2022		January 2, 2021		December 28, 2019
Balance at beginning of period	$	8,559	$	7,121	$	7,119
Increase for tax positions related to the current year	914		765		770

Increase (decrease) for tax positions related to prior years	369		1,231		(768)

Decrease for lapses of statute of limitations	—		(558)		—
Balance at end of period	$	9,842	$	8,559	$	7,121

Industry Segment, Geographic Information and Significant Customers Revenue by geography (Tables)

12 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

Schedule of revenue by geography

The following table provides information about revenue by geographical region (in thousands):


	January 1, 2022		January 2, 2021		December 28, 2019
Domestic	$	754,173	$	744,648	$	603,618
International	810,814		685,742		610,392
Total	$	1,564,987	$	1,430,390	$	1,214,010

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands, shares in Millions				2 Months Ended	3 Months Ended	12 Months Ended
	Jul. 22, 2021	Jul. 01, 2020	Apr. 24, 2020	Feb. 15, 2022	Apr. 03, 2021	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Accounting Policies [Line Items]
Cash and cash equivalents						$ 201,457	$ 432,635
Short-term investments, fair value						33,044	51,081
Allowance for credit loss						4,600	4,800
Allowance for credit loss, period increase (decrease)						200	3,600
Refund on tariffs paid			$ 57,000
Benefit from tariff refund							36,500
Incremental tariff cost						48,300
Capitalized cost						7,400	700
Equity securities without readily determinable fair values						16,300	17,400
Advertising Expense						147,200	145,200	$ 125,000
Valuation allowance						$ 13,136	$ 7,643	$ 3,800
Antidilutive securities excluded from computation of earnings per share (in shares)						0.1	0.2	0.2
Matterport, Inc.
Accounting Policies [Line Items]
Equity securities received, restricted	1.6
Gain from equity securities						$ 30,200
Short-term investments, fair value						$ 33,000
Teladoc Health, Inc.
Accounting Policies [Line Items]
Proceeds from short-term investments					$ 51,500
Number of shares (in shares)		0.2
Gain on sale of equity investments		$ 38,600
Proceeds from sale of short-term investments					60,100
Payments to acquire short-term investments					$ 8,600
Subsequent Event \| Matterport, Inc.
Accounting Policies [Line Items]
Proceeds from short-term investments				$ 16,200
Loss on sale of investments				$ 16,800
Customer Concentration Risk \| Accounts Receivable \| One Customer
Accounting Policies [Line Items]
Concentration risk percentage						14.50%	17.60%
Customer Concentration Risk \| Revenue \| Amazon
Accounting Policies [Line Items]
Concentration risk percentage						21.80%	22.70%	21.30%

Summary of Significant Accounting Policies - Short Term Investments (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Components of available for sale securities
Short-term investments, cost	$ 23,286	$ 50,076
Short-term investments, fair value	33,044	51,081
Marketable equity securities
Components of available for sale securities
Equity securities, cost	23,286	46,578
Equity securities, fair value	33,044	47,576
Corporate and government bonds
Components of available for sale securities
Debt securities, cost	0	3,498
Debt securities, fair value	$ 0	$ 3,505

Summary of Significant Accounting Policies - Accounts Receivable Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Allowance for product returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 64,343	$ 55,191	$ 53,920
Provision	61,014	68,028	69,488
Deduction	(68,518)	(58,876)	(68,217)
Balance at end of period	56,839	64,343	55,191
Allowance for other credits and incentives
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	142,173	134,046	97,737
Provision	267,821	285,139	284,084
Deduction	(308,388)	(277,012)	(247,775)
Balance at end of period	$ 101,606	$ 142,173	$ 134,046

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Jan. 01, 2022
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Capital Leases and Leasehold Improvements Terms	Lesser of economic benefit period or term of lease
Minimum \| Computer and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Minimum \| Machinery and tooling
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Minimum \| Business applications software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Maximum \| Computer and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum \| Machinery and tooling
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum \| Business applications software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years

Summary of Significant Accounting Policies - Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Basic and Diluted Net Income Per Share
Net income	$ 30,390	$ 147,068	$ 85,300
Weighted-average shares outstanding (in shares)	27,687	28,101	28,097
Weighted Average Number Diluted Shares Outstanding Adjustment	475	517	638
Diluted weighted-average shares outstanding (in shares)	28,162	28,618	28,735
Basic income per share (in usd per share)	$ 1.10	$ 5.23	$ 3.04
Diluted income per share (in usd per share)	$ 1.08	$ 5.14	$ 2.97

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Revenue Recognition - Performance Obligations (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jan. 02, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount		$ 11.5
Expected timing of satisfaction, period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount	$ 20.9
Expected timing of satisfaction, period	1 year

Revenue Recognition Significant Judgments (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jan. 02, 2021
Revenue from Contract with Customer [Abstract]
Refund liability, product returns	$ 56.8	$ 64.3
Refund liability, other credits and incentives	$ 101.6	$ 142.2

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 1,564,987	$ 1,430,390	$ 1,214,010
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	754,173	744,648	603,618
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	470,475	386,007	357,760
All Other Regions [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	117,567	106,431	91,757
JAPAN
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 222,772	$ 193,304	$ 160,875

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Revenue Recognition Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 8,747	$ 0
Contract liabilities	22,996	17,700
Revenue recognized	12,500	5,500
Contract with Customer, Receivable, after Allowance for Credit Loss	$ 155,659	$ 170,526

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Leases [Abstract]
Operating Lease, Weighted Average Discount Rate, Percent	3.58%
Operating Lease, Weighted Average Remaining Lease Term	7 years 7 months 9 days
Operating lease cost	$ 8,510	$ 9,363	$ 8,777
Variable lease cost	3,633	3,583	4,096
Total lease cost	12,143	12,946	12,873
Operating Lease, Payments	8,762	9,862	9,540
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0	$ 2,310	$ 53,227
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]

Leases Maturity of Operating Lease Liability (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Leases [Abstract]
2022	$ 7,895
2023	7,623
2024	6,567
2025	6,599
2026	6,680
Thereafter	21,849
Total minimum lease payments	57,213
Less: imputed interest	7,531
Present value of future minimum lease payments	49,682
Current portion of operating lease liabilities	6,220	$ 6,315
Operating lease liabilities	$ 43,462	$ 50,485

Property and Equipment 1 (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment 1 (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Property, Plant and Equipment [Line Items]
Subtotal	$ 171,798	$ 160,012
Less: accumulated depreciation	92,911	83,428
Property and equipment, net	78,887	76,584
Capitalized Computer Software, Net	4,900	6,500
Depreciation	31,100	31,900	$ 24,400
Capitalized Computer Software, Amortization	2,300	2,100	$ 1,500
Computer and equipment
Property, Plant and Equipment [Line Items]
Subtotal	12,723	13,617
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	9,329	8,394
Machinery and tooling
Property, Plant and Equipment [Line Items]
Subtotal	97,348	80,715
Leasehold improvements
Property, Plant and Equipment [Line Items]
Subtotal	32,207	36,459
Business applications software
Property, Plant and Equipment [Line Items]
Subtotal	16,048	19,185
Other
Property, Plant and Equipment [Line Items]
Subtotal	$ 4,143	$ 1,642

Goodwill and other intangible assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Goodwill [Roll Forward]
Goodwill beginning balance	$ 125,872	$ 118,732
Acquisition	52,662
Effect of foreign currency translation	(5,242)	7,140
Goodwill ending balance	173,292	125,872	$ 118,732
Finite-lived Intangible Assets [Roll Forward]
Intangible assets beginning balance	9,902	12,352
Acquisition	21,000
Amortization	(2,253)	(2,912)	(12,800)
Effect of foreign currency translation	(239)	462
Intangible assets ending balance	$ 28,410	$ 9,902	$ 12,352

Goodwill and other intangible assets - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 15, 2021	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 173,292	$ 125,872	$ 118,732
Acquisition related costs		$ 2,100
Aeris Cleantec AG
Finite-Lived Intangible Assets [Line Items]
Consideration transferred	$ 71,400
Intangible assets acquired, fair value	$ 21,000
Intangible assets, useful life	5 years
Tangible assets acquired	$ 10,100
Goodwill	52,700
Aeris Cleantec AG \| Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Acquisition	15,500
Aeris Cleantec AG \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquisition	$ 5,500

Goodwill and other intangible assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 92,811	$ 74,526
Accumulated Amortization	64,401	64,624
Net	28,410	9,902
Amortization	2,253	2,912	$ 12,800
Completed technology
Finite-Lived Intangible Assets, Net [Abstract]
Cost	43,727	28,100
Accumulated Amortization	27,752	26,525
Net	15,975	1,575
Tradename
Finite-Lived Intangible Assets, Net [Abstract]
Cost	100	100
Accumulated Amortization	100	100
Net	0	0
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Cost	16,628	11,728
Accumulated Amortization	4,193	3,401
Net	12,435	8,327
Reacquired distribution rights
Finite-Lived Intangible Assets, Net [Abstract]
Cost	32,096	34,318
Accumulated Amortization	32,096	34,318
Net	0	0
Non-competition agreements
Finite-Lived Intangible Assets, Net [Abstract]
Cost	260	280
Accumulated Amortization	260	280
Net	$ 0	$ 0

Goodwill and other intangible assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 5,441
Finite-Lived Intangible Assets, Amortization Expense, Year Two	4,766
Finite-Lived Intangible Assets, Amortization Expense, Year Three	4,766
Finite-Lived Intangible Assets, Amortization Expense, Year Four	4,592
Finite-Lived Intangible Assets, Amortization Expense, Year Five	3,379
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	5,466
Net	28,410	$ 9,902
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	3,279
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,604
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,604
Finite-Lived Intangible Assets, Amortization Expense, Year Four	2,604
Finite-Lived Intangible Assets, Amortization Expense, Year Five	2,604
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	2,280
Net	15,975
Operating Expense [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	2,162
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,162
Finite-Lived Intangible Assets, Amortization Expense, Year Three	2,162
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,988
Finite-Lived Intangible Assets, Amortization Expense, Year Five	775
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	3,186
Net	$ 12,435

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Components of accrued expenses
Accrued warranty	$ 32,019	$ 24,392
Accrued manufacturing and logistics cost	23,038	20,093
Accrued compensation and benefits	19,029	17,635
Accrued bonus	11,375	31,523
Accrued sales and other indirect taxes payable	9,599	15,480
Current portion of operating lease liabilities	6,220	6,315
Derivative liability	2,600	4,268
Accrued income taxes	1,788	3,806
Accrued other	26,950	7,876
Accrued expenses, total	$ 132,618	$ 131,388

Working Capital Facilities (Details) $ in Thousands, ¥ in Millions	12 Months Ended
	Jan. 01, 2022 USD ($)	Jan. 01, 2022 JPY (¥)	Dec. 29, 2018 USD ($)
Debt Disclosure [Abstract]
Maximum amount available for borrowing under credit facility	$ 150,000		$ 75,000
Interest on loans under the credit facility	at either (1) LIBOR plus a margin, currently equal to 1.0%, based on the Company's ratio of indebtedness to Adjusted EBITDA (the "Eurodollar Rate"), or (2) the lender's base rate.
Interest rate above the LIBOR Daily Floating Rate or the Prime Rate of Lender under condition one	1.00%	1.00%
Interest Rate Above the Federal Fund Rate Under Condition Two	0.50%	0.50%
Interest rate above the LIBOR rate plus under condition two	1.00%	1.00%
Letters of credit outstanding	$ 700
Amount outstanding	0
Letter of credit facility, maximum borrowing	$ 5,000
Line of credit, maximum amount \| ¥		¥ 250.0

Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021
Derivative, Fair Value, Net [Abstract]
Derivative liability	$ 2,600	$ 4,268
Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	325,400	192,200
Foreign currency forward contracts \| Derivatives not designated as hedging instruments: \| Other current assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset	8,362	261
Foreign currency forward contracts \| Derivatives not designated as hedging instruments: \| Other assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset	1,627	0
Foreign currency forward contracts \| Derivatives not designated as hedging instruments: \| Accrued expenses
Derivative, Fair Value, Net [Abstract]
Derivative liability	2,377	2,176
Forward sale contract \| Derivatives not designated as hedging instruments: \| Other current assets
Derivative, Fair Value, Net [Abstract]
Derivative liability	0	3,904
Derivatives not designated as hedging instruments: \| Marketable equity securities
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	51,500
Cash flow hedge \| Derivatives designated as cash flow hedges:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	423,300	431,900
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Other current assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset	4,110	362
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Other assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset	9,610	679
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Accrued expenses
Derivative, Fair Value, Net [Abstract]
Derivative liability	223	2,092
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Long-term liabilities
Derivative, Fair Value, Net [Abstract]
Derivative liability	$ 407	$ 8,554
Maximum \| Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Derivative, Term of Contract	12 months
Maximum \| Cash flow hedge \| Derivatives designated as cash flow hedges:
Derivatives, Fair Value [Line Items]
Derivative, Term of Contract	3 years

Derivative Instruments and Hedging Activities - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	$ 1,564,987	$ 1,430,390	$ 1,214,010
Other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income	(9,779)	(188)	89
Foreign currency forward contracts \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency forward contracts	31,363	(18,504)
Foreign currency forward contracts			16,483
Foreign currency forward contracts \| Revenue \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain reclassified from AOCI into earnings	$ 4,493	$ 4,783	$ 1,889

Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021
Liabilities:
Derivative instruments (Note 9)	$ 2,600	$ 4,268
Equity securities, unrealized gain	9,800	1,000
Marketable equity securities
Assets:
Marketable securities, cost	23,286	46,578
Corporate and government bonds
Assets:
Corporate and government bonds, cost	0	3,498
Recurring \| Level 1
Assets:
Marketable equity securities		47,576
Debt Securities, Available-for-sale		0
Derivative instruments (Note 9)	0	0
Total assets measured at fair value	66,047	95,105
Liabilities:
Derivative instruments (Note 9)	0	0
Total liabilities measured at fair value	0	0
Recurring \| Level 1 \| Marketable equity securities
Assets:
Marketable equity securities	33,044
Recurring \| Level 1 \| Money market funds
Assets:
Money market funds	33,003	47,529
Recurring \| Level 2
Assets:
Marketable equity securities	0	0
Debt Securities, Available-for-sale		3,505
Derivative instruments (Note 9)	23,709	5,206
Total assets measured at fair value	23,709	8,711
Liabilities:
Derivative instruments (Note 9)	3,007	12,822
Total liabilities measured at fair value	3,007	12,822
Recurring \| Level 2 \| Money market funds
Assets:
Money market funds	0	0
Recurring \| Level 3
Assets:
Marketable equity securities	0
Debt Securities, Available-for-sale		0
Derivative instruments (Note 9)	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative instruments (Note 9)	0	0
Total liabilities measured at fair value	0	0
Recurring \| Level 3 \| Money market funds
Assets:
Money market funds	$ 0	$ 0

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	Aug. 02, 2021 USD ($) shares	Mar. 11, 2021 USD ($) $ / shares shares	Sep. 30, 2021 shares	Oct. 02, 2021 USD ($) $ / shares shares	Jul. 03, 2021 USD ($) $ / shares shares	Jul. 03, 2021 USD ($)	Jan. 01, 2022 USD ($) vote $ / shares shares	Jan. 02, 2021 USD ($) $ / shares shares	Feb. 27, 2018 USD ($)
Equity [Abstract]
Preferred stock, shares authorized (in shares)							5,000,000	5,000,000
Preferred stock, par value (in dollars per share) \| $ / shares							$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)							0	0
Preferred stock, shares outstanding (in shares)							0	0
Common stock, votes per share \| vote							1
Stock repurchase program, authorized amount \| $	$ 100,000	$ 50,000							$ 200,000
Remaining authorized amount \| $							$ 25,000
Stock repurchases (in shares)	943,285	446,954		1,198,218	663,602			664,000
Additional shares delivered (in shares)			254,933
Average cost per share (in dollars per share) \| $ / shares		$ 111.85		$ 83.46	$ 37.65
Stock repurchases \| $				$ 100,000	$ 25,000	$ 50,000	$ 150,000	$ 25,000

Stock-Based Compensation - Narrative (Details)		1 Months Ended	12 Months Ended
Stock-Based Compensation - Narrative (Details)	May 21, 2020 shares	May 31, 2017 USD ($) shares	Jan. 01, 2022 USD ($) plan $ / shares shares	Jan. 02, 2021 USD ($)	Dec. 28, 2019 USD ($)	May 23, 2018 shares
Number of plans \| plan			3
Number of shares authorized (in shares) \| shares	2,495,000					1,750,000
Number of additional shares authorized (in shares) \| shares	745,000
Number of shares available for grant \| shares			1,023,556
Stock based compensation expense			$ 21,694,000	$ 29,975,000	$ 23,744,000
Share price (in dollars per share) \| $ / shares			$ 65.88
Purchase price of common stock percent		85.00%
Maximum percentage of salary		15.00%
Maximum dollar amount		$ 4,000
Maximum number of shares per employee \| shares		1,000
Restricted Stock Units (RSUs)
Vesting term			four year
Compensation cost not yet recognized			$ 64,800,000
Remaining recognition period			2 years 9 months 10 days
Outstanding, aggregate intrinsic value			$ 66,100,000
Outstanding, weighted average remaining contractual term			1 year 7 months 28 days
Performance Based Restricted Stock Units
Compensation cost not yet recognized			$ 4,200,000
Remaining recognition period			1 year 9 months
Outstanding, aggregate intrinsic value			$ 18,800,000
Outstanding, weighted average remaining contractual term			1 year 9 months
Performance Based Restricted Stock Units \| Minimum
Award vesting rights percentage			0.00%
Performance Based Restricted Stock Units \| Maximum
Award vesting rights percentage			200.00%
Employee Stock
Number of shares available for grant \| shares			465,465
Stock-based compensation expense recognized			$ 1,200,000	$ 1,000,000	$ 1,100,000

Stock-Based Compensation Stock comp expense classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Stock based compensation expense	$ 21,694	$ 29,975	$ 23,744
Cost of revenue
Stock based compensation expense	1,321	1,511	1,486
Research and development
Stock based compensation expense	9,542	10,655	9,186
Selling and marketing
Stock based compensation expense	4,190	3,700	3,323
General and administrative
Stock based compensation expense	$ 6,641	$ 14,109	$ 9,749

Stock-Based Compensation - RSUs and PSUs (Details) - $ / shares	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Restricted Stock Units (RSUs)
Activities relating to restricted stock awards
Number of Shares Underlying Restricted Stock, Beginning Balance	894,033	819,232	855,889
Number of Shares Underlying Restricted Stock, Granted	523,496	493,908	407,325
Number of Shares Underlying Restricted Stock, Vested	(314,427)	(318,079)	(358,119)
Number of Shares Underlying Restricted Stock, Forfeited	(99,886)	(101,028)	(85,863)
Number of Shares Underlying Restricted Stock, Ending Balance	1,003,216	894,033	819,232
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 68.97	$ 73.83	$ 63.32
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	88.73	61.53	79.91
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	71.36	67.95	54.89
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share)	75.82	75.20	76.85
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 77.85	$ 68.97	$ 73.83
Performance Based Restricted Stock Units
Activities relating to restricted stock awards
Number of Shares Underlying Restricted Stock, Beginning Balance	229,652	216,231	274,119
Number of Shares Underlying Restricted Stock, Granted	134,127	130,284	70,827
Number of Shares Underlying Restricted Stock, Vested	(55,503)	(71,734)	(78,943)
Number of Shares Underlying Restricted Stock, Forfeited	(23,154)	(45,129)	(49,772)
Number of Shares Underlying Restricted Stock, Ending Balance	285,122	229,652	216,231
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 66.41	$ 78.42	$ 54.10
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	94.74	46.77	122.20
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	68.41	61.44	33.33
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share)	71.68	75.17	78.29
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 78.92	$ 66.41	$ 78.42

Stock-Based Compensation - ESPP (Details) - USD ($)	1 Months Ended	12 Months Ended
Stock-Based Compensation - ESPP (Details) - USD ($)	May 31, 2017	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock percent	85.00%
Maximum percentage of salary	15.00%
Maximum dollar amount	$ 4,000
Maximum number of shares per employee	1,000
Number of shares available for grant		1,023,556
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant		465,465
Stock-based compensation expense recognized		$ 1,200,000	$ 1,000,000	$ 1,100,000

Commitments and Contingencies - Narrative (Details) $ in Millions	Jan. 01, 2022 USD ($)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Contractual Obligation	$ 363.9

Commitments and Contingencies - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Activity related to the warranty accrual
Balance at beginning of period	$ 24,392	$ 13,856	$ 11,964
Provision	42,430	28,884	14,091
Warranty usage	(34,803)	(18,348)	(12,199)
Balance at end of period	$ 32,019	$ 24,392	$ 13,856

Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefits (Details) - USD ($) $ in Millions	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Retirement Benefits [Abstract]
Employee benefits, matching contribution	$ 3.8	$ 3.0	$ 2.9
Employer matching contribution percent	50.00%
Percent of employees fist contribution	6.00%
Maximum employee contribution percent	3.00%

Income Taxes - Income (Loss) Before Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 8,880	$ 166,973	$ 84,225
Foreign	19,404	20,942	14,608
Income before income taxes	$ 28,284	$ 187,915	$ 98,833

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Current
Federal	$ 1,045	$ 13,593	$ 13,366
State	441	2,724	5,004
Foreign	7,019	10,451	6,941
Total current income tax provision	8,505	26,768	25,311
Deferred
Federal	(8,286)	14,695	(9,345)
State	(690)	2,552	(1,783)
Foreign	(1,635)	(3,168)	(650)
Total deferred income tax (benefit) provision	(10,611)	14,079	(11,778)
Total income tax (benefit) provision	$ (2,106)	$ 40,847	$ 13,533

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Reconciliation of the expected tax (benefit) expense
Statutory federal income tax	$ 5,940	$ 39,462	$ 20,755
State taxes (net of federal benefit)	389	4,834	3,999
Federal and state credits	(7,620)	(6,702)	(8,152)
Excess tax (benefits) expenses from stock-based compensation	(4,160)	313	(6,468)
Foreign-derived intangible income	(3,253)	(3,360)	(4,180)
Executive compensation	1,706	718	2,081
Foreign tax rate differential	264	1,458	1,986
Change in valuation allowance	4,691	3,817	2,678
Other	(63)	307	834
Total income tax (benefit) provision	$ (2,106)	$ 40,847	$ 13,533

Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Deferred tax assets
Revenue reserves	$ 22,039	$ 20,564
Accruals and other liabilities	14,518	14,357
Operating lease liabilities	11,428	12,429
Tax credits and net operating loss carryforwards	17,326	12,748
Stock-based compensation	3,463	4,868
Other	5,476	3,793
Gross deferred tax assets	74,250	68,759
Valuation allowance	(13,136)	(7,643)	$ (3,800)
Total deferred tax assets	61,114	61,116
Deferred tax liabilities
Intangible assets	5,469	3,341
Operating lease right-of-use assets	10,998	11,443
Marketable equity securities	7,370	10,676
Other	2,582	2,957
Total deferred tax liabilities	26,419	28,417
Net deferred tax assets	$ 34,695	$ 32,699

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Company's adjustments to its uncertain tax position
Balance at beginning of period	$ 8,559	$ 7,121	$ 7,119
Increase for tax positions related to the current year	914	765	770
Increase (decrease) for tax positions related to prior years	369	1,231
Increase (decrease) for tax positions related to prior years			(768)
Decrease for lapses of statute of limitations	0	(558)	0
Balance at end of period	$ 9,842	$ 8,559	$ 7,121

Income Taxes - Narrative (Details) - USD ($)	Jan. 01, 2022	Jan. 02, 2021	Dec. 28, 2019
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	$ 3,900,000	$ 12,700,000
Valuation allowance	13,136,000	7,643,000	$ 3,800,000
Income tax penalties and interest accrued	0	0	$ 0
Unrecognized tax benefits that would impact effective tax rate	11,200,000
Federal
Tax Credit Carryforward [Line Items]
Valuation allowance	2,000,000
Foreign Tax Authority
Tax Credit Carryforward [Line Items]
Valuation allowance	5,700,000
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 19,400,000	$ 16,300,000

Industry Segment, Geographic Information and Significant Customers (Details Textual) $ in Thousands	12 Months Ended
	Jan. 01, 2022 USD ($) segment	Jan. 02, 2021 USD ($)	Dec. 28, 2019 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments \| segment	1
Revenue	$ 1,564,987	$ 1,430,390	$ 1,214,010
Customer Concentration Risk \| Revenue \| Amazon
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	21.80%	22.70%	21.30%
Non-US \| Geographic Concentration Risk \| Revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	51.80%	47.90%	50.30%
Domestic
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 754,173	$ 744,648	$ 603,618
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 810,814	$ 685,742	$ 610,392

Maturity of Operating Lease Liability (Details) (Details) $ in Thousands	Jan. 01, 2022 USD ($)
Leases [Abstract]
2022	$ 7,895