Quarterly report pursuant to Section 13 or 15(d)

Combined Balance Sheets (Unaudited)

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Combined Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 28, 2020
Dec. 28, 2019
Mar. 30, 2019
Current assets      
Cash and equivalents $ 479,366 $ 106,808 $ 102,945
Accounts receivable, net 213,080 228,459 299,328
Due from former parent, current 0 0 291,127
Notes receivable from former parent 0 0 517,940
Inventories 488,750 458,101 519,006
Prepaid expenses and other current assets 78,597 84,235 50,671
Total current assets 1,259,793 877,603 1,781,017
Due from former parent, noncurrent 0 0 370
Property, plant and equipment, net 129,884 132,192 138,972
Operating lease assets 83,022 86,582 77,305
Intangible assets, net 16,914 17,293 51,913
Goodwill 211,739 212,836 213,623
Other assets 200,443 190,650 122,210
TOTAL ASSETS 1,901,795 1,517,156 2,385,410
Current liabilities      
Short-term borrowings 3,487 1,070 8,368
Current portion of long-term debt 0 0  
Accounts payable 149,922 147,347 147,403
Due to former parent, current 0 0 3,865
Notes payable to former parent 0 0 241,867
Accrued liabilities 180,538 194,744 206,517
Operating lease liabilities, current 32,781 35,389 29,156
Total current liabilities 366,728 378,550 637,176
Operating lease liabilities, noncurrent 54,150 54,746 51,533
Other liabilities 110,666 101,334 117,719
Long-term debt, due beyond one year 1,388,736 913,269 0
Commitments and contingencies
Total liabilities 1,920,280 1,447,899 806,428
Equity      
Preferred Stock, no par value; shares authorized, 90,000,000; no shares outstanding at March 2020, December 2019 and March 2019 0 0 0
Common Stock, no par value; shares authorized, 600,000,000; shares outstanding of 56,930,737 at March 2020; 56,811,198 at December 2019 and no shares outstanding at March 2019 0 0 0
Additional paid-in capital 153,966 150,673 0
Former parent investment 0 0 1,723,406
Accumulated deficit (38,989) (1,718) 0
Accumulated other comprehensive loss (133,462) (79,698) (144,424)
Total (deficit) equity (18,485) 69,257 1,578,982
TOTAL LIABILITIES AND EQUITY $ 1,901,795 $ 1,517,156 $ 2,385,410