EMPLOYEE BENEFIT PLANS |
9 Months Ended |
|---|---|
Oct. 01, 2022 | |
| Retirement Benefits [Abstract] | |
| EMPLOYEE BENEFIT PLANS |
NOTE 7 — EMPLOYEE BENEFIT PLANS The Company sponsors a 401(k) plan that covers substantially all employees. The Company matches a certain portion of employee contributions using the safe harbor guidelines contained in the Internal Revenue Code. Expenses related to these matching contributions totaled $0.9 million and $3.1 million for the three and nine months ended October 1, 2022, respectively, and $0.9 million and $3.1 million for the three and nine months ended October 2, 2021, respectively. The Company plans to contribute approximately $0.9 million to the plan in matching employee contributions during the remainder of 2022. In addition, the Company provided supplemental discretionary contributions to the 401(k) plan totaling $1.5 million and $5.4 million for the three and nine months ended October 1, 2022, respectively, and $1.6 million and $5.6 million for the three and nine months ended October 2, 2021, respectively. The Company plans to contribute approximately $1.5 million in supplemental contributions to the plan during the remainder of 2022. |